| Trade and other receivables |
17Trade and other receivables | | | | | | | | | | | | | | | | | | As at December 31, | | | Notes | | 2024 | | 2025 | | | | | RMB’000 | | RMB’000 | Non-current | | | | | | | Trade receivables | | | | 14,653 | | 3,263 | Less: loss allowance | | 30(a) | | (18) | | (4) | | | | | | | | Trade receivables, net of loss allowance (iii) | | | | 14,635 | | 3,259 | Amounts due from related parties | | 33(c) | | 16,708 | | 15,575 | Deposits | | | | 193,810 | | 171,039 | Prepayments for lease | | | | 72,000 | | — | Value-added tax (“VAT”) recoverable | | | | 44,135 | | 57,638 | | | | | 341,288 | | 247,511 | | | | | | | | Current | | | | | | | Trade receivables | | | | 742,622 | | 1,228,178 | Less: loss allowance | | 30(a) | | (67,699) | | (77,678) | | | | | | | | Trade receivables, net of loss allowance | | | | 674,923 | | 1,150,500 | Amounts due from related parties | | 33(c) | | 45,424 | | 78,052 | Miscellaneous expenses paid on behalf of franchisees | | | | 642,073 | | 737,986 | VAT recoverable | | | | 208,221 | | 361,691 | Rental deposits | | | | 71,001 | | 159,224 | Receivables due from online payment platforms and banks (i) | | | | 77,990 | | 113,841 | Prepayments for inventories | | | | 73,538 | | 99,738 | Prepayments for licensing expenses | | | | 65,040 | | 91,934 | Prepayments for promotion and advertising expenses | | | | 30,349 | | 32,970 | Prepayments for repurchase of shares | | | | 70,518 | | 56,530 | Prepayment for rental | | | | 47,665 | | 78,764 | Prepaid income tax | | | | 82,304 | | 69,270 | Others | | | | 117,967 | | 276,629 | | | | | 2,207,013 | | 3,307,129 |
Notes: | (i) | Receivables due from online payment platforms and banks mainly represented the proceeds of online sales through e-commerce platforms collected by and retained in third-party online payment platforms. Withdrawal of the balances retained in online payment platforms could be made anytime upon the Group’s instructions. The amounts also included those due from banks for offline sales made through customer credit/debit cards and other online payment platforms that require overnight processing by the collection banks. |
| (ii) | All of trade and other receivables classified as current portion are expected to be recovered or recognized as expense within one year. |
| (iii) | Trade receivables relating to certain sales of fixtures to franchisees are collected by installments within the periods ranging from 18 to 38 months and the portion which is expected to be recovered after one year are classified as non - current. All other trade debtors are due within 30 to 180 days from the date of revenue recognition for domestic and overseas customers respectively. |
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