v3.25.4
Trade receivables
 12 Months Ended
Dec. 31, 2024
Trade receivables [Abstract]  
Trade receivables

7. Trade receivables

 

   As of December 31, 
   2023   2024 
   RMB’000   RMB’000 
Trade receivables   133,657    148,057 
Loss allowance   (60,513)   (69,137)
    73,144    78,920 
Included in trade receivables per balance sheet   73,144    44,506 
Included in assets classified as held for sale   —    34,414 

 

The following is an aging analysis of trade receivables presented based on the invoice date at the end of each reporting period, which approximated the respective revenue recognition date.

 

   As of December 31, 
   2023   2024 
   RMB’000   RMB’000 
0 – 90 days   29,865    21,479 
91 – 180 days   17,331    905 
181 – 365 days   26,216    45,459 
1 – 2 years   52,100    25,604 
2 – 3 years   7,843    47,720 
Over 3 years   302    6,890 
    133,657    148,057 

 

The Group uses a provision matrix to calculate ECLs for trade receivables that result from transactions within the scope of IFRS 15. The provision rates are based on aging for groupings of various customer segments with similar loss patterns. The provision matrix is based on the historical default rates taking into consideration forward-looking information that is reasonable, supportable and available without undue costs and effort.

The movement in ECL allowance for trade receivables during the years indicated is as follows:

 

   Year ended December 31, 
   2023   2024 
   RMB’000   RMB’000 
Opening loss allowance   22,252    60,513 
Arising from business combination   105    — 
Provision for loss allowance, net   38,156    10,341 
Disposal of subsidiaries   —    (1,717)
Closing loss allowance   60,513    69,137 
Included in trade receivables per balance sheet   60,513    63,865 
Included in assets classified as held for sale   —    5,272 

 

The ECL allowance as of December 31, 2023 and 2024 was determined based on aging as follows:

 

   Within 1   1-2   2-3   Over 3 
   year   years   years   years 
At December 31, 2023                
Expected loss rate   9.6%   20.8%   55.3%   — 
Gross carrying amount (RMB’000)   71,938    9,994    371    — 
Loss allowance (RMB’000)   6,879    2,076    205    — 
                     
At December 31, 2024                    
Expected loss rate   11.1%   28.0%   49.2%   — 
Gross carrying amount (RMB’000)   67,843    21,615    5,992    329 
Loss allowance (RMB’000)   7,536    6,047    2,947    329 

 

Besides from the above ECL allowance calculated using provision matrix, as of December 31, 2023 and 2024, loss allowance was fully made for specific trade receivables with gross amount of RMB51.4 million and RMB52.3 million, respectively, which were considered to be in default due to conditions indicating that the Group was unlikely to receive the outstanding contractual amounts.