Financial risk management objectives and policies (Tables)

12 Months Ended

Dec. 31, 2019

Set out below is the information about the credit risk exposure on the Group’s trade receivables using a provision matrix:


				Trade receivables
						Days past due
As at December 31, 2018	Total			Current		0 – 90 days			91-180 days			181-365 days			>365 days
	RMB’000			RMB’000		RMB’000			RMB’000			RMB’000			RMB’000

Expected credit loss rate		6.3	%		—		0.1	%		—			6.3	%		75.1	%
Estimated total gross carrying amount at default		438,586			281,250		47,561			25,862			47,209			36,704
Expected credit loss		30,586			—		30			—			2,990			27,566


				Trade receivables
						Days past due
As at December 31, 2019	Total			Current		0 – 90 days			91-180 days			181-365 days			>365 days
	RMB’000			RMB’000		RMB’000			RMB’000			RMB’000			RMB’000

Expected credit loss rate		7. 2	%		—		6.9	%		6.2	%		10.9	%		70.7	%
Estimated total gross carrying amount at default		7 94 , 678			601,094		61,917			24,409			40,213			67,045
Expected credit loss		57,611			—		4,283			1,513			4,386			47,429

The table below summarizes the maturity profile of the Group’s financial assets and liabilities based on contractual undiscounted payments.


	1 year or less		2 to 5 years		Total
As at December 31, 2018	RMB’000		RMB’000		RMB’000

Financial assets
Trade and bills receivables		7,389,106		—		7,389,106
Other receivables, excluding tax recoverable		140,505		—		140,505
Cash and bank balances		6,128,522		—		6,128,522
Quoted equity securities		21,876		—		21,876
Derivative not designated as hedges – foreign exchange forward contract		4,529		—		4,529

		13,684,538		—		13,684,538


Financial liabilities
Loans and borrowings		2,033,519		15,196		2,048,715
Trade and other payables (Note 24)		7,008,592		160,091		7,168,683
Other liabilities		14		34		48

		9,042,125		175,321		9,217,446


	1 year or less		2 to 5 years		Total		Total
As at December 31, 2019	RMB’000		RMB’000		RMB’000		US$’000

Financial assets
Trade and bills receivables		7,7 4 2, 301		—		7,7 4 2, 301		1,09 2 , 758
Other receivables, excluding tax recoverable		1 61 , 292		—		1 61 , 292		2 2 , 765
Cash and bank balances		6,390,918		—		6,390,918		902,023
Quoted equity securities		9,235		—		9,235		1,304

		14,303,746		—		14,303,746		2,018,850


Financial liabilities
Loans and borrowings		2,085,456		—		2,085,456		294,344
Trade and other payables (Note 24)		8,447,756		176,302		8,624,058		1,217,210
Lease liabilities		29,838		35,263		65,101		9,188
Derivative not designated as hedges – foreign exchange forward contract		999		—		999		141

		10,564,049		211,565		10,775,614		1,520,883

The Group’s exposures to foreign currency are as follows:

A 10% increase/(decrease) in the underlying prices at the reporting date would increase/(decrease) Group’s profit before tax by the following amount: