View Filing Data

Long-term bank deposits, current

422,960

59,697

361,207

50,000

7,057

70,000

Right-of-use assets

415,384

58,628

Capitalized contract cost

136,457

19,260

44,434

Trade and other receivables

6,471,887

913,450

5,237,073

Current assets

Inventories

2,824,137

398,602

2,517,864

8,190,293

1,155,988

7,785,287

Prepaid operating leases

12,546

Other current assets

^[1]

26,956

3,805

46,672

Cash and cash equivalents

5,753,268

812,024

5,559,890

Long-term bank deposits

70,000

9,880

70,000

Short-term bank deposits

286,543

40,443

356,926

Restricted cash

231,107

32,619

71,706

Current assets

17,382,304

2,453,361

16,420,891

Other components of equity

23,854,191

3,366,811

21,657,964

Equity

Issued capital

2,081,138

293,734

2,081,138

Statutory reserves

304,307

42,950

302,404

Capital reserves

30,704

4,334

30,704

Retained earnings

6,456,802

911,321

6,092,549

(105,422)

(14,879)

(110,946)

Equity attributable to equity holders of the parent

8,767,529

1,237,460

8,395,849

Non-controlling interests

2,805,856

396,022

2,751,705

Total equity

11,573,385

1,633,482

11,147,554

Non-current liabilities

15,078

Other liabilities

Lease liabilities

31,374

4,428

Contract liabilities

53,813

7,596

53,703

153,486

21,663

136,728

Deferred grants

656,776

92,698

585,526

Other payables

176,302

24,883

160,091

1,071,751

151,268

951,160

Current liabilities

Trade and other payables

8,468,091

1,195,198

7,031,043

2,055,046

290,052

2,001,014

Other liabilities

999

141

Lease liabilities

28,633

4,041

Contract liabilities

382,809

54,030

286,786

Provision for taxation

55,446

7,826

73,480

Provision

218,031

30,773

166,913

Current liabilities

11,209,055

1,582,061

9,559,250

Total equity and liabilities

12,280,806

1,733,329

10,510,410

¥ 23,854,191

$ 3,366,811

¥ 21,657,964

[1]

On September 19, 2018, Yuchai entered into a non-deliverable forward foreign exchange contract (“NDF”) with China Construction Bank to purchase US$73.0 million at the forward exchange rate (RMB/US$) of 6.8599 on September 13, 2019. The Group accounted for this NDF at fair value through profit or loss.

Consolidated Statement of Changes in Equity ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)	Issued capital [Member] CNY (¥)	Issued capital [Member] USD ($)	Preference share [member] CNY (¥)	Statutory reserves [Member] CNY (¥)	Statutory reserves [Member] USD ($)	Capital reserves [Member] CNY (¥)	Capital reserves [Member] USD ($)	Retained earnings [member] CNY (¥)	Retained earnings [member] USD ($)	Foreign currency translation reserve [member] CNY (¥)	Foreign currency translation reserve [member] USD ($)	Performance shares reserves [member] CNY (¥)	Performance shares reserves [member] USD ($)	Reserve of asset classified as held for sale [Member] CNY (¥)	Premium paid for acquisition of non-controlling interests [member] CNY (¥)	Premium paid for acquisition of non-controlling interests [member] USD ($)	Attributable to the equity holders of the parent [Member] CNY (¥)	Attributable to the equity holders of the parent [Member] USD ($)	Non-controlling interests [member] CNY (¥)	Non-controlling interests [member] USD ($)	Fair Value [member] CNY (¥)	Fair Value [member] USD ($)
Balance at Dec. 31, 2016	¥ 10,053,654		¥ 2,059,076		¥ 21	¥ 299,144		¥ 30,954		¥ 5,358,037		¥ (43,959)		¥ 20,839		¥ 22,720	¥ (11,160)		¥ 7,735,672		¥ 2,317,982
Statement [LineItems]
Profit for the year	1,319,856									888,809									888,809		431,047
Other comprehensive income for the year, net of tax	(76,523)											(38,980)				(22,720)			(61,700)		(14,823)
Total comprehensive income for the year	1,243,333									888,809		(38,980)				¥ (22,720)			827,109		416,224
Transactions with owners, recorded directly in equity
Shares issued during the year	22,062		22,062																22,062
Dividends declared to non-controlling interests	(98,941)																				(98,941)
Dividends declared and paid	(248,844)									(248,844)									(248,844)
Cost of share-based payments	1,592													1,592					1,592
Exercise of share option	(2,673)													(2,673)					(2,673)
Acquisition of non-controlling interests	(8,279)							(250)									(381)		(631)		(7,648)
Transfer to statutory reserves						1,882				(1,882)
Balance at Dec. 31, 2017	10,961,904		2,081,138		21	301,026		30,704		5,996,120		(82,939)		19,758			(11,541)		8,334,287		2,627,617
Statement [LineItems]
Effect of adoption of IFRS 9	(137,277)																		(104,893)		(32,384)		¥ (104,893)
Profit for the year	974,400									695,266									695,266		279,134
Other comprehensive income for the year, net of tax	81,891											43,724							68,669		13,222		24,945
Total comprehensive income for the year	1,056,291									695,266		43,724							763,935		292,356		24,945
Transactions with owners, recorded directly in equity
Dividends declared to non-controlling interests	(135,905)																				(135,905)
Dividends declared and paid	(597,459)									(597,459)									(597,459)
Transfer to statutory reserves						1,378				(1,378)
Conversion of preference shares					¥ (21)														(21)		21
Balance at Dec. 31, 2018	11,147,554		2,081,138			302,404		30,704		6,092,549		(39,215)		19,758			(11,541)		8,395,849		2,751,705		(79,948)
Statement [LineItems]
Profit for the year	860,700	$ 121,480								604,914		0							604,914		255,786
Other comprehensive income for the year, net of tax	11,517	1,626										3,124							5,455		6,062		2,331
Total comprehensive income for the year	872,217	123,106								604,914		3,124							610,369		261,848		2,331
Transactions with owners, recorded directly in equity
Dividends declared to non-controlling interests	(207,514)																				(207,514)
Dividends declared and paid	(238,758)	(33,699)								(238,758)									(238,758)
Acquisition of non-controlling interests	(114)																69		69		(183)
Transfer to statutory reserves						1,903				(1,903)
Balance at Dec. 31, 2019	¥ 11,573,385	$ 1,633,482	¥ 2,081,138	$ 293,734		¥ 304,307	$ 42,950	¥ 30,704	$ 4,334	¥ 6,456,802	$ 911,321	¥ (36,091)	$ (5,094)	¥ 19,758	$ 2,789		¥ (11,472)	$ (1,619)	¥ 8,767,529	$ 1,237,460	¥ 2,805,856	$ 396,022	¥ (77,617)	$ (10,955)

Consolidated Statement of Changes in Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Restatement [abstract]
Dividends declared and paid, per share	$ 0.85	$ 2.21	$ 0.90

Consolidated Statement of Cash Flows
¥ in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2019

CNY (¥)

Dec. 31, 2019

USD ($)

Dec. 31, 2018

CNY (¥)

Dec. 31, 2017

CNY (¥)

Operating activities

Profit before tax

¥ 1,033,319

$ 145,844

¥ 1,181,067

¥ 1,514,028

Adjustments:

Amortization of intangible asset

1,012

143

Amortization of prepaid operating leases

12,724

12,366

Bad debt written off/(recovered)

(108)

Cost of share-based payments

1,592

Depreciation of investment property

380

884

248

Depreciation of property, plant and equipment

422,859

59,683

420,277

431,567

Depreciation of right-of-use assets

40,958

5,781

Dividend income from quoted equity securities

(959)

(135)

(1,992)

(2,532)

Exchange (gain)/loss

(4,679)

(660)

4,235

(8,319)

Fair value (gain)/loss on foreign exchange forward contract

5,529

780

(4,529)

Fair value (gain)/loss on quoted equity securities

(1,118)

(158)

3,433

(12,768)

Finance costs

131,796

18,602

113,088

100,439

(Gain)/loss on disposal of:

- associate

(199)

- joint venture

^[1]

(107,976)

- property, plant and equipment

645

(8,835)

(11,668)

- quoted equity securities

(11,528)

(1,627)

- right-of-use assets

(9,237)

(1,304)

- subsidiaries

(216,115)

Government grants

(122,371)

(17,272)

(32,237)

(28,035)

Impairment losses on development property

(177,261)

(25,019)

(147,244)

(105,421)

3,039

429

Impairment losses on intangible asset

40,000

Impairment losses on property, plant and equipment

3,950

558

30,173

20,845

(Reversal of impairment losses)/impairment losses on trade receivables

32,340

4,565

(11,052)

(10,854)

Property, plant and equipment written off

4,137

584

1,265

5,682

Provision for onerous contract

2,316

327

(Reversal of write-down)/ impairment losses of inventories, net

17,022

2,403

(8,468)

(19,901)

Share of profit of associates and joint ventures, net of tax

(19,034)

(2,686)

(11,634)

(10,054)

Write-back of trade and other payables

(2,087)

(295)

(29)

Profit before tax after adjustments

1,351,028

190,688

1,541,047

1,592,906

Changes in working capital

(Increase)/decrease in inventories

(314,904)

(44,446)

47,533

(897,437)

Decrease/(increase) in trade and other receivables and capitalized contract cost

(514,163)

(72,570)

(502,069)

81,121

Increase/(decrease) in trade and other payables and contract liabilities

1,294,214

182,667

(229,457)

846,175

Decrease/(increase) in development properties

(71)

(10)

4,205

377

Cash flows from operating activities

1,816,104

256,329

861,259

1,623,142

Income taxes paid

(233,088)

(32,898)

(190,658)

(202,975)

Net cash flows from operating activities

1,583,016

223,431

670,601

1,420,167

Investing activities

Payment for trademark usage fee

(169,811)

(23,967)

Additional investment in subsidiaries

(114)

(16)

(8,279)

Additional investment in associates and joint ventures

(41,160)

(5,809)

(75,000)

Development costs

(345,128)

(48,712)

(180,626)

Dividend received from:

- joint ventures

821

116

801

754

- quoted equity securities

959

135

1,992

2,532

Interest received

173,745

24,523

143,768

108,481

Proceeds from disposal of:

- associate

1,832

- joint venture

182,679

- property, plant and equipment

1,178

166

6,669

15,640

- quoted equity securities

16,429

2,319

- right-of-use assets

11,008

1,554

- subsidiaries, net of cash disposed

341,602

Proceeds from government grants

191,491

27,027

286,198

50,095

Purchase of property, plant and equipment

(749,087)

(105,727)

(407,747)

(289,472)

Tax and relevant expenses in relation to disposal of subsidiary

(38,887)

(5,489)

(Withdrawal)/placement of fixed deposits with banks, net

138,079

19,489

68,953

(254,294)

Net cash flows from/(used in) investing activities

(810,477)

(114,391)

(79,992)

76,570

Dividends paid to:

- equity holders of the parent

(238,758)

(33,699)

(597,459)

(235,947)

- non-controlling interests

(203,167)

(28,675)

(132,558)

(97,009)

Interest paid and discounting on bills receivable

(139,118)

(19,635)

(108,039)

(107,246)

Payment of finance lease liabilities

(33)

(38)

Payment of principal portion of lease liabilities

(48,365)

(6,826)

Proceeds from:

- borrowings

2,040,752

288,034

2,000,320

1,814,618

- issue of shares

6,617

Repayment of borrowings

(2,000,773)

(282,392)

(1,611,756)

(1,100,133)

Net cash flows from/(used in) financing activities

(589,429)

(83,193)

(449,525)

280,862

Net increase in cash and cash equivalents

183,110

25,847

141,084

1,777,599

Cash and cash equivalents at January 1

5,559,890

784,729

5,390,324

3,653,914

Effect of exchange rate changes on balances in foreign currencies

10,268

1,448

28,482

(41,189)

Cash and cash equivalents at December 31

¥ 5,753,268

$ 812,024

¥ 5,559,890

¥ 5,390,324

[1]	On October 19, 2017, the Group completed the disposal of its joint venture investment in Copthorne Qingdao and recognized gain on disposal in the Group’s profit or loss for the year ended December 31, 2017.

Corporate information

12 Months Ended

Dec. 31, 2019

Corporate information

1.	Corporate information

1.1	Incorporation

The consolidated financial statements of China Yuchai International Limited (the “Company”) and its subsidiaries (collectively, the “Group”) for the year ended December 31, 2019 were authorized for issue in accordance with a resolution of the directors on April 30, 2020.

China Yuchai International Limited is a limited company incorporated under the laws of Bermuda on April 29, 1993 whose shares are publicly traded. The registered office of the Company is located at 2 Clarendon House, Church Street, Hamilton HM11, Bermuda. On March 7, 2008, the Company registered a branch office in Singapore, located at 16 Raffles Quay

#26-00,

Hong Leong Building, Singapore 048581. The principal operating office is located at 16 Raffles Quay

#39-01A,

Hong Leong Building, Singapore 048581.

1.2	Investment in Guangxi Yuchai Machinery Company Limited

The Company was established to acquire a controlling financial interest in Guangxi Yuchai Machinery Company Limited (“Yuchai”), a Sino-foreign joint stock company which manufactures, assembles and sells diesel engines in the People’s Republic of China (the “PRC”).

The Company owns, through six wholly-owned subsidiaries, 361,420,150 shares or 76.41% of the issued share capital of Yuchai. Guangxi Yuchai Machinery Group Company Limited (“

Group

”), a state-owned enterprise, owns 22.09% of the issued share capital of Yuchai.

As at December 31, 2019, Yuchai has nine

(2018: nine) direct and

(2018: 32) indirectly owned subsidiaries, four (2018:

four

)

joint ventures and one

(2018

one)

associate. Guangxi Yuchai Machinery Monopoly Development Co., Ltd. (“YMMC”) and Guangxi Yuchai Accessories Manufacturing Company Limited (“GYAMC”) are the two most significant subsidiaries of Yuchai. YMMC has

29 (2018: 28)

wholly-owned subsidiaries (collectively “YMMC Group”) located at various provinces in the PRC. The principal business of YMMC Group are trading and distribution of components of diesel engines and automobiles. GYAMC has two wholly-owned subsidiar

ies

(collectively “GYAMC Group”). The principal business of GYAMC Group are sales and manufacturing of components of diesel engines. The detailed information of Yuchai’s significant subsidiaries, joint ventures and associate are disclosed in Notes 4, 5 and 6.

As used in this Consolidated Financial Statements, the term “Yuchai” refer to Guangxi Yuchai Machinery Company Limited and its subsidiaries.

1.3	Investment in HL Global Enterprises Limited

In February 2006, the Group acquired debt and equity securities interest in HL Global Enterprises Limited (“HLGE”) through the Group’s wholly-owned subsidiaries, Grace Star Limited (“Grace Star”) and Venture Lewis Limited (“Venture Lewis’). HLGE is a public company listed on the Main Board of the Singapore Exchange Securities Trading Limited (“Singapore Exchange”) and primarily engaged in investment holding, and through its group companies, invests in rental property, hospitality and property developments in Asia.

The Group’s

shareholding has changed through various transactions, the Group’s equity interest in HLGE was 49.4% as at December 31, 2011.

On January 13, 2012, Grace Star transferred 24,189,170 Series B redeemable convertible preference shares (“RCPS”), representing 100% of remaining unconverted Series B RCPS, in the capital of HLGE (the “Trust Preference Shares”) to the Trustee pursuant to a trust deed entered into between HLGE and the Trustee. On January 16, 2012, the Trust Preference Shares were mandatorily converted into 24,189,170 new ordinary shares in the capital of HLGE (the “Trust Shares”) resulting in the Group’s shareholding interest in HLGE decreased from 49.4% to 48.1%. On April 4, 2012, as a result of the conversion of all the outstanding Series A redeemable convertible preference shares held by Venture Delta Limited and Grace Star, into new ordinary shares in the capital of HLGE, the Group’s shareholding interest in HLGE increased from 48.1% to 48.9%. The Trust Shares are accounted for as treasury shares by HLGE, issued by HLGE and held by the Trust, which is considered as part of HLGE. As a result, the Group’s shareholding interest in HLGE is stated as 50.1%, based on the total outstanding ordinary shares of HLGE, net of the ordinary shares held by the Trustee under the Trust.

As of December 31, 2013, the Group’s interest in HLGE remained at 50.1%, based on the total outstanding ordinary shares of HLGE, net of the ordinary shares held by the Trustee under the Trust.

In 2014, the Group purchased in the open market an aggregate of 465,000 ordinary shares in the capital of HLGE. As of December 31, 2014, the Group’s interest in HLGE increased from 50.1% to 50.2%, net of the ordinary shares held by the Trustee under the Trust.

In 2015, HLGE undertook a share consolidation exercise to consolidate every 10 ordinary shares in the capital of HLGE into one ordinary share. Upon completion of the share consolidation exercise, the Group held 47,107,707 ordinary shares of HLGE. As at December 31, 2015, the Group’s interest in HLGE was 50.2%, net of the ordinary shares held by the Trustee under the Trust.

As of December 31, 2018 and 2019, the Group’s shareholding interest in HLGE remains at 50.2%, net of the ordinary shares held by the Trustee under the Trust.

The Group considers HLGE as a subsidiary as it has power to exercise effective control and direct the activities of HLGE that most significantly affect its economic performance and has the exposure or rights to receive benefits from HLGE from its involvement.

Basis of preparation and accounting policies

12 Months Ended

Dec. 31, 2019

Basis of preparation and accounting policies

2.	Basis of preparation and accounting policies

2.1	Basis of preparation

The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”).

The consolidated financial statements have been prepared on a historical cost basis except as disclosed in the accounting policies below.

The consolidated financial statements are presented in Renminbi (“RMB”) and all values are rounded to the nearest thousand (“RMB’000”), except when otherwise indicated.

Translation of amounts from Renminbi to the United States Dollar (“US Dollar”) is solely for the convenience of the reader. Translation of amounts from Renminbi to US Dollar has been made at the rate of RMB 7.0851 = US$1.00, the rate quoted by the People’s Bank of China at the close of business on March 31, 2020 and all values are rounded to the nearest thousand (“US$’000”), except when otherwise indicated.

The consolidated financial statements provide comparative information in respect of the previous period.

2.2	Basis of consolidation

The consolidated financial statements comprise the financial statements of the Company and its subsidiaries as at December 31, 2019. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Specifically, the Group controls an investee if and only if the Group has:

•

Power over the investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee)

•

Exposure, or rights, to variable returns from its involvement with the investee

•

The ability to use its power over the investee to affect its returns

Generally, there is a presumption that a majority of voting rights results in control. To support this presumption and when the Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over an investee, including:

•

The contractual arrangement with the other vote holders of the investee

•

Rights arising from other contractual arrangements

•

The Group’s voting rights and potential voting rights

The Group

re-assesses

whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the Group gains control until the date the Group ceases to control the subsidiary.

Profit or loss and each component of other comprehensive income (“OCI”) are attributed to the equity holders of the parent of the Group and to the

non-controlling

interests, even if this results in the

non-controlling

interests having a deficit balance. When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with the Group’s accounting policies. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation.

A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.

If the Group loses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities,

non-controlling

interest and other components of equity, while any resultant gain or loss is recognized in profit or loss. Any investment retained is recognized at fair value.

2.3	Summary of significant accounting policies

(a)

Business combinations and goodwill

Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at acquisition date fair value and the amount of any

non-controlling

interests in the acquiree. For each business combination, the Group elects whether to measure the

non-controlling

interests in the acquiree at fair value or at the proportionate share of the acquiree’s identifiable net assets. Acquisition-related costs are expensed as incurred and included in administrative expenses.

When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date. This includes the separation of embedded derivatives in host contracts by the acquiree.

Any contingent consideration to be transferred by the acquirer will be recognized at fair value at the acquisition date. Contingent consideration classified as equity is not remeasured and its subsequent settlement is accounted for within equity. Contingent consideration classified as an asset or liability that is a financial instrument and within the scope of IFRS 9

Financial Instruments

, is measured at fair value with the changes in fair value recognized in the statement of profit or loss in accordance with IFRS 9. Other contingent consideration that is not within the scope of IFRS 9 is measured at fair value at each reporting date with changes in fair value recognized in profit or loss.

Goodwill is initially measured at cost (being the excess of the aggregate of the consideration transferred and the amount recognized for

non-controlling

interests and any previous interest held over the net identifiable assets acquired and liabilities assumed). If the fair value of the net assets acquired is in excess of the aggregate consideration transferred, the Group

re-assesses

whether it has correctly identified all of the assets acquired and all of the liabilities assumed and reviews the procedures used to measure the amounts to be recognized at the acquisition date. If the reassessment still results in an excess of the fair value of net assets acquired over the aggregate consideration transferred, then the gain is recognized in profit or loss.

After initial recognition, goodwill is measured at cost less any accumulated impairment losses. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group’s cash-generating units that are expected to benefit from the combination, irrespective of whether other assets or liabilities of the acquiree are assigned to those units.

Where goodwill has been allocated to a cash-generating unit (“CGU”) and part of the operation within that unit is disposed of, the goodwill associated with the disposed operation is included in the carrying amount of the operation when determining the gain or loss on disposal. Goodwill disposed in these circumstances is measured based on the relative values of the disposed operation and the portion of the cash-generating unit retained.

(b)

Investments in associates and joint ventures

An associate is an entity over which the Group has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee, but is not control or joint control over those policies.

A joint venture is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the joint venture. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require unanimous consent of the parties sharing control.

The considerations made in determining significant influence or joint control are similar to those necessary to determine control over subsidiaries. The Group’s investments in its associates and joint ventures are accounted for using the equity method.

Under the equity method, the investment in an associate or a joint venture is initially recognized at cost. The carrying amount of the investment is adjusted to recognize changes in the Group’s share of net assets of the associate or joint venture since the acquisition date. Goodwill relating to the associate or joint venture is included in the carrying amount of the investment and is not tested for impairment separately.

The statement of profit or loss reflects the Group’s share of the results of operations of the associate or joint venture. Any change in OCI of those investees is presented as part of the Group’s OCI. In addition, when there has been a change recognized directly in the equity of the associate or joint venture, the Group recognizes its share of any changes, when applicable, in the statement of changes in equity. Unrealized gains and losses resulting from transactions between the Group and the associate or joint venture are eliminated to the extent of the interest in the associate or joint venture.

The aggregate of the Group’s share of profit or loss of an associate and a joint venture is shown on the face of the statement of profit or loss outside operating profit and represents profit or loss after tax and

non-controlling

interests in the subsidiaries of the associate or joint venture.

The financial statements of the associate or joint venture are prepared for the same reporting period as the Group. When necessary, adjustments are made to bring the accounting policies in line with those of the Group.

After application of the equity method, the Group determines whether it is necessary to recognize an impairment loss on its investment in its associate or joint venture. At each reporting date, the Group determines whether there is objective evidence that the investment in the associate or joint venture is impaired. If there is such evidence, the Group calculates the amount of impairment as the difference between the recoverable amount of the associate or joint venture and its carrying value, then recognizes the loss within “Share of profit/(loss) of associates and joint ventures, net of tax” in the statement of profit or loss.

Upon loss of significant influence over the associate or joint control over the joint venture, the Group measures and recognizes any retained investment at its fair value. Any difference between the carrying amount of the associate or joint venture upon loss of significant influence or joint control and the fair value of the retained investment and proceeds from disposal is recognized in profit or loss.

(c)

Current versus

non-current

classification

The Group presents assets and liabilities in the statement of financial position based on

current/non-current

classification. An asset is current when it is:

•

Expected to be realized or intended to be sold or consumed in normal operating cycle;

•

Held primarily for the purpose of trading;

•

Expected to be realized within twelve months after the reporting period; or

•

Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.

All other assets are classified as

non-current.

A liability is current when:

•

It is expected to be settled in normal operating cycle;

•

It is held primarily for the purpose of trading;

•

It is due to be settled within twelve months after the reporting period; or

•

There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.

The terms of the liability that could, at the option of the counterparty, result in its settlement by the issue of equity instruments do not affect its classification.

The Group classifies all other liabilities as

non-current.

Deferred tax assets and liabilities are classified as

non-current

assets and liabilities.

(d)

Fair value measurement

The Group measures financial instruments, such as quoted equity securities, bills receivable and a foreign exchange forward contract, at fair value at each balance sheet date.

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either:

•

In the principal market for the asset or liability, or

•

In the absence of a principal market, in the most advantageous market for the asset or liability

The principal or the most advantageous market must be accessible by the Group.

The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.

A fair value measurement of a

non-financial

asset takes into account a market participant’s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.

The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs.

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

•

Level 1 – Quoted (unadjusted) market prices in active markets for identical assets or liabilities

•

Level 2 – Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable

•

Level 3 – Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable

For assets and liabilities that are recognized in the financial statements at fair value on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy by

re-assessing

categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.

For the purpose of fair value disclosures, the Group has determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.

Fair value related disclosures for financial instruments that are measured at fair value are summarized in the following notes:

(e)

Foreign currency translation

The Company’s functional currency is US Dollar. The Group’s consolidated financial statements are presented in Renminbi, which is also the functional currency of Yuchai, the largest operating segment of the Group.

Each entity in the Group determines its own functional currency, and items included in the financial statements of each entity are measured using that functional currency.

Transactions and balances

Transactions in foreign currencies are initially recorded by the Group’s entities at their respective functional currency spot rates at the date the transaction first qualifies for recognition.

Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rate of exchange at the reporting date.

Differences arising on settlement or translation of monetary items are recognized in profit or loss with the exception of monetary items that are designated as part of the hedge of the Group’s net investment of a foreign operation. These are recognized in OCI until the net investment is disposed of, at which time, the cumulative amount is reclassified to profit or loss. Tax charges and credits attributable to exchange differences on those monetary items are also recorded in OCI.

Non-monetary

items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions.

Non-monetary

items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined. The gain or loss arising on translation of

non-monetary

items measured at fair value is treated in line with the recognition of gain or loss on change in fair value of the item (i.e., translation differences on items whose fair value gain or loss is recognized in OCI or profit or loss are also recognized in OCI or profit or loss, respectively).

In determining the spot exchange rate to use on initial recognition of the related asset, expense or income (or part of it) on the derecognition of a

non-monetary

asset or

non-monetary

liabilities relating to advance consideration, the date of the transaction is the date on which the Group initially recognizes the

non-monetary

asset or

non-monetary

liability arising from advance consideration. If there are multiple payments or receipts in advance, the Group determines the transaction date for each payment or receipt of advance consideration.

Group companies

On consolidation, the assets and liabilities of foreign operations are translated into RMB at the rate of exchange prevailing at the reporting date and their statements of profit or loss are translated at average exchange rates during the reporting period. The exchange differences arising on translation for consolidation are recognized in OCI. On disposal of a foreign operation, the component of OCI relating to that particular foreign operation is reclassified to profit or loss.

Any goodwill arising on the acquisition of a foreign operation and any fair value adjustments to the carrying amounts of assets and liabilities arising on the acquisition are treated as assets and liabilities of the foreign operation and translated at the spot rate of exchange at the reporting date.

(f)

Revenue from Contracts with Customers

Revenue from contracts with customers is recognized when control of the goods or services are transferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods or services. The Group has generally concluded that it is the principal in its revenue arrangements because it typically controls the goods or services before transferring them to the customer.

The disclosures of significant accounting judgements, estimates and assumptions relating to revenue from contracts with customers are provided in Note 3.

Sale of engines

Revenue from sale of engines is recognized at the point in time when control of the engine is transferred to the customer, generally on delivery of the engines, or, in some cases, when the engines are installed by the customers.

The Group considers whether there are other promises in the contract that are separate performance obligations to which a portion of the transaction price needs to be allocated (e.g. warranties). In determining the transaction price for the sale of engines, the Group considers the effects of variable consideration and the existence of significant financing components.

(i) Variable consideration

If the consideration in a contract includes a variable amount, the Group estimates the amount of consideration to which it will be entitled in exchange for transferring the goods to the customer. The variable consideration is estimated at contract inception and constrained until it is highly probably that a significant revenue reversal in the amount of cumulative revenue recognized will not occur when the associated uncertainty with the variable consideration is subsequently resolved. Some contracts for the sale of engines provide customers with volume rebates. The volume rebates give rise to variable consideration.

Volume rebates

The Group provides certain customers with retrospective volume rebates when the quantity of products purchased during the period exceeds a threshold specified in the contract. To estimate the variable considerations for the expected future rebates, the Group applies the most likely amount method for each individual contract. The Group then applies the requirements on constraining estimates of variable consideration in order to determine the amount of variable consideration that can be included in the transaction price and recognized as revenue. A refund liability is recognized in “Trade and other payables” for the expected future rebates (i.e., the amount not included in the transaction price).

(ii) Significant financing component

The Group receives advance payments from customers for the sale of engines. The Group applies the practical expedient for short-term advances received from customers. That is, the promised amount of consideration is not adjusted for the effects of a significant financing component if the period between the transfer of the promised good or service and the payment is one year or less.

Warranty obligations

The Group typically provides warranties for general repairs of defects as part of the sale of engines. These assurance-type warranties are accounted for as warranty provisions. Refer to the accounting policy on warranty provisions in Section (s)

Provisions

Certain contracts provide a customer with maintenance service, i.e. a distinct service to the customer in addition to the assurance that the product complies with agreed upon specification. These service-type warranties are bundled together with the sale of engines. Contracts for bundled sale of engines and a service-type warranty comprise two performance obligations because the promises to transfer the engines and to provide the service-type warranty are capable of being distinct. Using a combination of expected cost-plus margin and residual approaches, the transaction price is allocated to the service-type warranty and engines with the former performance obligation recognizing a corresponding contract liability. Revenue for service-type warranties is recognized at the point in time when the service-type warranty is provided.

Consignment arrangements

In some consignment arrangements, although the good has been delivered to the customer, the Group retains control of the good and satisfies its performance obligation only upon the utilization of the good by the customer.

Sale of completed development properties

Revenue is recognized when control of the property has been transferred to the customer, either over time or at a point in time, depending on the contractual terms and the practices in the legal jurisdictions.

For development properties whereby the Group is restricted contractually from directing the properties for another use as they are being developed and has an enforceable right to payment for performance completed to date, revenue is recognized over time, based on the construction and other costs incurred to-date as a proportion of the estimated total construction and other costs to be incurred.

For development properties whereby the Group does not have an enforceable right to payment for performance completed to date, revenue is recognized when the customer obtains control of the asset.

Rendering of services

Revenue from rendering services relates to project management contracts, and hotel room and restaurant operations. Revenue is recognized over the period in which the services are rendered, by reference to completion of the specific transaction assessed on the basis of the actual service provided as a proportion of the total services to be performed.

Contract balances

Trade receivables

A receivable is recognized if an amount of consideration that is unconditional is due from the customer (i.e. only the passage of time is required before payment of the consideration is due). Refer to accounting policies of financial assets in Section (m)

Financial instruments – Initial recognition and subsequent measurement

Contract liabilities

A contract liability is recognized if a payment is received or a payment is due (whichever is earlier) from a customer before the Group transfers the related goods or services. Contract liabilities are recognized as revenue when the Group performs under the contract (i.e., transfers control of the related goods or services to the customer).

Refund liabilities

A refund liability is recognized for the obligation to refund some or all of the consideration received (or receivable) from a customer. The liability is measured at the amount the Group ultimately expects it will have to return to the customer. The Group updates its estimates of refund liabilities (and the corresponding change in the transaction price) at the end of each reporting period.

Costs to fulfil a contract

Costs to fulfil a contract are capitalized if the costs relate directly to the contract, generate or enhance resources used in satisfying the contract and are expected to be recovered. Other contract costs are expensed as incurred.

Capitalized contract costs are subsequently recognized in profit or loss as the Group recognizes the related revenue. An impairment loss is recognized in profit or loss to the extent that the carrying amount of the capitalized contract costs exceeds the remaining amount of consideration that the Group expects to receive in exchange for the goods or services to which the contract costs relates less the costs that relate directly to providing the goods and that have not been recognized as expenses.

(g)

Government grants

Government grants are recognized where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. When the grant relates to an asset, it is recognized as income in equal amounts over the expected useful life of the related asset.

(h)

Taxes

Current income tax

Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted at the reporting date in the countries where the Group operates and generates taxable income.

Current income tax relating to items recognized directly in equity is recognized in equity and not in the statement of profit or loss. Management periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions where appropriate.

Deferred tax

Deferred tax is provided using the liability method on temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.

Deferred tax liabilities are recognized for all taxable temporary differences, except:

•

When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss

•

In respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint ventures, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future

Deferred tax assets are recognized for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and the carry forward of unused tax credits and unused tax losses can be utilized, except:

•

When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss

•

In respect of deductible temporary differences associated with investments in subsidiaries, associates and interests in joint ventures, deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilized

The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Unrecognized deferred tax assets are

re-assessed

at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.

Deferred tax relating to items recognized outside profit or loss is recognized outside profit or loss. Deferred tax items are recognized in correlation to the underlying transaction either in OCI or directly in equity.

Tax benefits acquired as part of a business combination, but not satisfying the criteria for separate recognition at that date, are recognized subsequently if new information about facts and circumstances change. The adjustment is either treated as a reduction to goodwill (as long as it does not exceed goodwill) if it was incurred during the measurement period or recognized in profit or loss.

The Group offsets deferred tax assets and deferred tax liabilities if and only if it has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered.

Sales tax

Expenses and assets are recognized net of the amount of sales tax, except:

•

When the sales tax incurred on a purchase of assets or services is not recoverable from the taxation authority, in which case, the sales tax is recognized as part of the cost of acquisition of the asset or as part of the expense item, as applicable

•

When receivables and payables are stated with the amount of sales tax included

The net amount of sales tax recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the statement of financial position.

(i)

Cash dividend and

non-cash

distribution to equity holders of the parent

The Company recognizes a liability to make cash or

non-cash

distributions to equity holders of the parent when the distribution is authorized and the distribution is no longer at the discretion of the Company. A distribution is authorized when it is approved by the shareholders. A corresponding amount is recognized directly in equity.

Non-cash

distributions are measured at the fair value of the assets to be distributed with fair value measurement recognized directly in equity.

Upon distribution of

non-cash

asset, any difference between the carrying amount of the liabilities and the carrying amount of the assets distributed is recognized in the statement of profit or loss.

(j)

Property, plant and equipment

Construction in progress is stated at cost, net of accumulated impairment losses, if any. Property, plant and equipment are stated at cost, net of accumulated depreciation and accumulated impairment losses, if any. Such cost includes the cost of replacing part of the property, plant and equipment and borrowing costs for long-term construction projects if the recognition criteria are met. When significant parts of property, plant and equipment are required to be replaced at intervals, the Group depreciates them separately based on their specific useful lives. Likewise, when a major inspection is performed, its cost is recognized in the carrying amount of the plant and equipment as a replacement if the recognition criteria are satisfied. All other repair and maintenance costs are recognized in profit or loss as incurred.

Freehold land has an unlimited useful life and therefore is not depreciated. Asset under construction included in property, plant and equipment are not depreciated as these assets are not yet ready for intended use. Depreciation is calculated on a straight-line basis over the estimated useful life of the assets as follows:


Freehold buildings	:	50 years
Leasehold land, buildings and improvements	:	Shorter of 15 to 50 years or lease term
Plant and machinery	:	3 to 20 years
Office furniture, fittings and equipment	:	3 to 20 years
Motor and transport vehicles	:	3.5 to 15 years

An item of property, plant and equipment and any significant part initially recognized is derecognized upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the statement of profit or loss when the asset is derecognized.

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate.

The Group capitalizes interest with respect to major assets under installation or construction based on the weighted average cost of the Group’s general borrowings and actual interest incurred for specific borrowings. Repairs and maintenance of a routine nature are expensed while those that extend the life of assets are capitalized.

Construction in progress represents factories under construction and machinery and equipment pending installation. All direct costs relating to the acquisition or construction of buildings and machinery and equipment, including interest charges on borrowings, are capitalized as construction in progress.

(k)

Investment properties

Investment properties are properties owned by the Group that are held to lease to third parties and earn rentals rather than for use in the production or supply of goods or services, or for administrative purposes, or in the ordinary course of business. Investment properties comprise completed investment properties and properties that are being constructed or developed for future use as investment properties.

Investment properties are initially recognized at cost, including transaction costs. Subsequent to initial recognition, investment properties are carried at cost less accumulated depreciation and impairment losses. Depreciation is recognized in profit or loss on a straight-line basis over the estimated useful lives of the investment properties. The estimated useful life is 30 years. Depreciation methods, useful lives and residual values of investment properties are reassessed at each reporting date.

Investment properties are derecognized either when they have been disposed of (i.e., at the date recipient obtains control) or when they are permanently withdrawn from use and no future economic benefit is expected from its disposal. The difference between the net disposal proceeds and the carrying amount of the asset is recognized in profit or loss in the period of derecognition. In determining the amount of consideration from the derecognition of investment property the Group considers the effects of variable consideration, existence of a significant financing component, non-cash consideration, and consideration payable to the buyer (if any).

Transfers are made to (or from) investment property only when there is a change in use. Under cost model, the transfer does not change the carrying amount of the property transferred.

(l)

Intangible assets

Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses. Internally generated intangibles, excluding capitalized development costs, are not capitalized and the related expenditure is reflected in profit or loss in the period in which the expenditure is incurred.

The useful lives of intangible assets are assessed as either finite or indefinite.

Intangible assets with finite lives are amortized over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at the end of each reporting period. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are considered to modify the amortization period or method, as appropriate, and are treated as changes in accounting estimates. The amortization expense on intangible assets with finite lives is recognized in the statement of profit or loss in the expense category that is consistent with the function of the intangible assets.

Intangible assets with indefinite useful lives are not amortized, but are tested for impairment annually, either individually or at the cash-generating unit level. The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made on a prospective basis.

An intangible asset is derecognized upon disposal (i.e., at the date the recipient obtains control) or when no future economic benefits are expected from its use or disposal. Any gain or loss arising upon derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in the statement of profit or loss.

Research and development costs

Research costs are expensed as incurred.

Development expenditures on an individual project are recognized as an intangible asset when the Group can demonstrate:

•

The technical feasibility of completing the intangible asset so that the asset will be available for use or sale

•

Its intention to complete and its ability to use or sell the asset

•

How the asset will generate future economic benefits

•

The availability of resources to complete the asset

•

The ability to measure reliably the expenditure during development

Following initial recognition of the development expenditure as an asset, the asset is carried at cost less any accumulated amortization and accumulated impairment losses. Amortization of the asset begins when development is complete and the asset is available for use. Development costs are amortized over the period of expected future benefit. During the period of development, the asset is tested for impairment annually.

Goodwill

Accounting policy for goodwill is separately discussed in Note 2.3(a).

A summary of the policies applied to the Group’s intangible assets is as follows:


	Trademarks	Technology know-how	Development costs
Useful lives	Indefinite	10 years	*
Amortization method used	No amortization	Amortized on a straight-line basis over the period of the technology know-how	*
Internally generated or acquired	Acquired	Internally generated	Internally generated

Development costs relate to on-going development projects that have not been completed and are not available for use.

(m)

Financial instruments – Initial recognition and subsequent measurement

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

Financial assets

Initial recognition and measurement

Financial assets are classified, at initial recognition, as subsequently measured at amortized cost, fair value through other comprehensive income (“OCI”), and fair value through profit or loss.

The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Group’s business model for managing them. With the exception of trade receivables that do not contain a significant financing component or which the Group has applied the practical expedient, the Group initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. Trade receivables that do not contain a significant financing component or which the Group has applied the practical expedient are measured at the transaction price as disclosed in Section (f)

Revenue from contracts with customers

In order for a financial asset to be classified and measured at amortized cost or fair value through OCI, it needs to give rise to cash flows that are “solely payments of principal and interest (“SPPI”)” on the principal amount outstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. Financial assets with cash flows that are not SPPI are classified and measured at fair value through profit or loss, irrespective of the business model.

The Group’s business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. Financial assets classified and measured at amortized cost are held within a business model with the objective to hold financial assets in order to collect contractual cash flows while financial assets classified and measured at fair value through OCI are held within a business model with the objective of both holding to collect contractual cash flows and selling.

Purchases or sales of financial assets that require delivery of assets within a time frame established by regulation or convention in the market place (regular way trades) are recognized on the trade date, i.e., the date that the Group commits to purchase or sell the asset.

Subsequent measurement

For purposes of subsequent measurement, financial assets are classified in four categories:

•

Financial assets at amortized cost (debt instruments)

•

Financial assets at fair value through OCI with recycling of cumulative gains and losses (debt instruments)

•

Financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon derecognition (equity instruments)

•

Financial assets at fair value through profit or loss

Financial assets at amortized cost (debt instruments)

Financial assets at amortized cost are subsequently measured using the effective interest (“EIR”) method and are subject to impairment. Gains and losses are recognized in profit or loss when the asset is derecognized, modified or impaired.

The Group’s financial assets at amortized cost includes trade and other receivables (excluding bills receivable).

Financial assets at fair value through OCI (debt instruments)

For debt instruments at fair value through OCI, interest income, foreign exchange revaluation and impairment losses or reversals are recognized in the statement of profit or loss and computed in the same manner as for financial assets measured at amortized cost. The remaining fair value changes are recognized in OCI. Upon derecognition, the cumulative fair value change recognized in OCI is recycled to profit or loss.

The Group’s debt instruments at fair value through OCI includes bills receivable.

Financial assets designated at fair value through OCI (equity instruments)

Upon initial recognition, the Group can elect to classify irrevocably its equity investments as equity instruments designated at fair value through OCI when they meet the definition of equity under

IAS 32 Financial Instruments: Presentation

and are not held for trading. The classification is determined on an

instrument-by-instrument

basis.

Gains and losses on these financial assets are never recycled to profit or loss. Dividends are recognized as other income in the statement of profit or loss when the right of payment has been established, except when the Group benefits from such proceeds as a recovery of part of the cost of the financial asset, in which case, such gains are recorded in OCI. Equity instruments designated at fair value through OCI are not subject to impairment assessment.

The Group does not have equity instruments measured under this category.

Financial assets at fair value through profit or loss

Financial assets at fair value through profit or loss are carried in the statement of financial position at fair value with net changes in fair value recognized in statement of profit or loss.

This category includes derivative instruments and listed equity investments which the Group had not irrevocably elected to classify at fair value through OCI. Dividends on listed equity investments are also recognized as other income in the statement of profit or loss when the right of payment has been established.

A derivative embedded in a hybrid contract, with a financial liability or

non-financial

host, is separated from the host and accounted for as a separate derivative if: the economic characteristics and risks are not closely related to the host; a separate instrument with the same terms as the embedded derivative would meet the definition of a derivative; and the hybrid contract is not measured at fair value through profit or loss. Embedded derivatives are measured at fair value with changes in fair value recognized in profit or loss. Reassessment only occurs if there is either a change in the terms of the contract that significantly modifies the cash flows that would otherwise be required or a reclassification of a financial asset out of the fair value through profit or loss category.

Derecognition

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognized (i.e., removed from the Group’s consolidated statement of financial position) when:

•

The rights to receive cash flows from the asset has expired; or

•

The Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a “pass-through” arrangement; and either (a) the Group has transferred substantially all the risks and rewards of the asset, or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset

When the Group has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if, and to what extent, it has retained the risks and rewards of ownership. When it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the Group continues to recognize the transferred asset to the extent of its continuing involvement. In that case, the Group also recognizes an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained.

Continuing involvement that takes the form a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Group could be required to repay.

Impairment

Further disclosures relating to impairment of financial assets are also provided in the following notes:

•

Debt instruments at fair value through OCI represented by bills receivable (Note 17)

•

Trade receivables (Note 17)

The Group recognizes an allowance for expected credit losses (“ECLs”) for all debt instruments not held at fair value through profit or loss and financial guarantee contracts. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms.

ECLs are recognized in two stages. For credit exposure for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12 months (a

“12-month

ECL”). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is recognized for credit losses expected over the remaining life of the exposure irrespective of timing of the default (a “life time ECL”).

For trade receivable, the Group applies a simplified approach in calculating ECLs. Therefore, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. The Group has established a provision matrix that is based on its historical credit loss experience adjusted for forward-looking factors specific to the debtors and the economic environment.

For debt instruments at fair value through OCI, the Group applies the low credit risk simplifications. At every reporting date, the Group evaluate whether the debt instrument is considered to have low credit risk using all reasonable and supportable information that is available without undue cost or effort. In making the evaluation, the Group reassesses the external credit rating of the debt instrument. In addition, the Group considers that there has been a significant increase in credit risk when contractual payments are more than 30 days past due.

The Group’s debt instruments at fair value through OCI comprise solely of bills receivable. It is the Group’s policy to measure ECLs on such instruments on a 12-month basis. However, when there has been a significant increase in credit risk since origination, the allowance will be based on the lifetime ECL.

The Group considers a financial asset in default when contractual payments are more than 360 days from the invoice date. However, in certain cases the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Group. A financial asset is written off when there is no reasonable expectation of recovering contractual cash flow.

Financial liabilities

Initial recognition and measurement

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, payables, or as derivatives designated as hedging instruments in an effective hedge, as appropriate.

All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.

The Group’s financial liabilities include trade and other payables, loans and borrowings, lease liabilities, other liabilities and derivative financial instruments.

Subsequent measurement

For purposes of subsequent measurement, financial liabilities are classified in two categories:

•

Financial liabilities at fair value through profit or loss

•

Financial liabilities at amortized cost

Financial liabilities at fair value through profit or loss

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss.

Financial liabilities are classified as held for trading if they are incurred for the purpose of repurchasing in the near term. This category also includes derivative financial instruments entered into by the Group that are not designated as hedging instruments in hedge relationships as defined by IFRS 9. Separated embedded derivatives are also classified as held for trading unless they are designated as effective hedging instruments.

Gains or losses on liabilities held for trading are recognized in the statement of profit or loss.

Financial liabilities designated upon initial recognition at fair value through profit or loss are designated at the initial date of recognition, and only if the criteria in IFRS 9 are satisfied. The Group has not designated any financial liability as at fair value through profit or loss.

Financial liabilities at amortized cost

This is the category most relevant to the Group. After initial recognition, financial liabilities that are not carried at fair value through profit or loss are subsequently measured at amortized cost using the EIR method. Gains and losses are recognized in profit or loss when the liabilities are derecognized as well as through the EIR amortization process.

Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included as finance costs in the statement of profit or loss.

This category generally applies to loans and borrowings, lease liabilities, other liabilities and payables. For more information refer to Note 24 and 28.

Derecognition

A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the statement of profit or loss.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statement of financial position if there is a currently enforceable legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets and settle the liabilities simultaneously.

(n)

Inventories

Inventories are valued at the lower of cost and net realizable value.

Costs incurred in bringing each product to its present location and condition are accounted for as follows:

•

Raw materials: purchase cost on a weighted average basis

•

Finished goods and work in progress: cost of direct materials and labor and a proportion of manufacturing overheads based on the normal operating capacity, but excluding borrowing costs

Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale.

(o)

Impairment of

non-financial

assets

Further disclosures relating to impairment of

non-financial

assets are also provided in the following notes:

•

Disclosures for significant assumptions (Note 3)

•

Property, plant and equipment (Note 11)

•

Intangible assets (Note 14)

•

Investment property (Note 12)

•

Right-of-use assets (Note 19)

•

Investment in associates & joint ventures (Note 5 & 6)

The Group assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, or when annual impairment testing for an asset is required, the Group estimates the asset’s recoverable amount. An asset’s recoverable amount is the higher of an asset’s or CGU’s fair value less costs of disposal and its value in use. The recoverable amount is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. When the carrying amount of an asset or CGU exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount.

In assessing value in use, the estimated future cash flows are discounted to their present value using a

pre-tax

discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs of disposal, recent market transactions are taken into account. If no such transactions can be identified, an appropriate valuation model is used. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded companies or other available fair value indicators.

The Group bases its impairment calculation on detailed budgets and forecast calculations, which are prepared separately for each of the Group’s CGUs to which the individual assets are allocated. These budgets and forecast calculations generally cover a period of ten years. A long-term growth rate is calculated and applied to project future cash flows after the tenth year.

Impairment losses are recognized in the statement of profit or loss in expense categories consistent with the function of the impaired asset.

For assets excluding goodwill, an assessment is made at each reporting date to determine whether there is an indication that previously recognized impairment losses no longer exist or have decreased. If such indication exists, the Group estimates the asset’s or CGU’s recoverable amount. A previously recognized impairment loss is reversed only if there has been a change in the assumptions used to determine the asset’s recoverable amount since the last impairment loss was recognized. The reversal is limited so that the carrying amount of the asset does not exceed its recoverable amount, nor exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior years. Such reversal is recognized in the statement of profit or loss.

Goodwill is tested for impairment annually and when circumstances indicate that the carrying value may be impaired.

Impairment is determined for goodwill by assessing the recoverable amount of each CGU (or group of CGUs) to which the goodwill relates. When the recoverable amount of the CGU is less than its carrying amount, an impairment loss is recognized. Impairment losses relating to goodwill cannot be reversed in future periods.

Intangible assets with indefinite useful lives are tested for impairment annually at the CGU level, as appropriate, and when circumstances indicate that the carrying value may be impaired.

(p)

Cash and cash equivalents

For the purpose of the consolidated statement of cash flows, cash and cash equivalents in the statement of financial position comprise cash at banks and on hand, short-term highly liquid deposits with a maturity of three months or less, that are readily convertible to a known amount of cash and subject to an insignificant risk of changes in value.

(q)

Leases

Accounting policy beginning January 1, 2019

The Group assess at contract inception whether a contract is, or contains, a lease. That is, if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

Group as a lessee

The Group applies a single recognition and measurement approach for all leases, expect for short-term leases and leases of

low-value

assets. The Group recognizes lease liabilities to make lease payments and

right-of-use

assets representing the right to use the underlying assets.

(i)

Right-of-use

assets

The Group recognizes

right-of-use

assets at the commencement date of the lease (i.e., the date the underlying asset is available for use).

Right-of-use

assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of

right-of-use

assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received.

Right-of-use

assets are depreciated on a straight-line basis over the shorter of the lease term and estimated useful lives of the assets, as follows:


• Leasehold land		Shorter of 3 years to 50 years
• Building and office space		1 to 6 years
• Office furniture, fittings and equipment		5 years

If ownership of the leased asset transfers to the Group at the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset.

The

right-of-use

assets are also subjected to impairment. Refer to the accounting policies in Section (o)

Impairment of

non-financial

assets

(ii) Lease liabilities

At the commencement date of the lease, the Group recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including

in-substances

fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for terminating the lease, if the lease term reflects the Group exercising the option to terminate. Variable lease payments that do not depend on an index or a rate are recognized as expenses (unless they are incurred to produce inventories) in the period in which the event or condition that triggers the payment occurs.

In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the lease payments (e.g., changes to future payments resulting from a change in an index or rate used to determine such lease payments) or a change in the assessment of an option to purchase the underlying assets.

(iii) Short-term leases

The Group applies the short-term lease recognition exemption to its short-term leases of land and building (i.e., those leases that have a lease term of 12 months of less from the commencement date and do not contain a purchase option). Lease payments on short-term leases are recognized as expense on a straight-line basis over the lease term.

Group as a lessor

Leases in which the Group does not transfer substantially all the risks and rewards of ownership of an asset are classified as operating leases. Rental income arising is accounted for on straight-line basis over the lease terms and is included in revenue in the statement of profit or loss due to its operating nature. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognized over the lease term on the same basis as rental income.

Accounting policy prior to January 1, 2019

The determination of whether an arrangement is, or contains, a lease is based on the substance of the arrangement at the inception of the lease. The arrangement is, or contains, a lease if fulfilment of the arrangement is dependent on the use of a specific asset or assets and the arrangement conveys a right to use the asset or assets, even if that asset is or those assets are not explicitly specified in an arrangement.

Prepaid operating lease

Prepaid operating lease represents payments made to the PRC land bureau for land use rights, which are charged to expense on a straight-line basis over the respective periods of the rights which are in the range of 15 to 50 years.

Group as a lessee

A lease is classified at the inception date as a finance lease or an operating lease. A lease that transfers substantially all the risks and rewards incidental to ownership to the Group is classified as a finance lease.

Finance leases are capitalized at the commencement of the lease at the inception date fair value of the leased property or, if lower, at the present value of the minimum lease payments. Lease payments are apportioned between finance charges and reduction of the lease liability so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are recognized in finance costs in the statement of profit or loss.

A leased asset is depreciated over the useful life of the asset. However, if there is no reasonable certainty that the Group will obtain ownership by the end of the lease term, the asset is depreciated over the shorter of the estimated useful life of the asset and the lease term.

An operating lease is a lease other than a finance lease. Operating lease payments are recognized as an operating expense in the statement of profit or loss on a straight-line basis over the lease term.

Group as a lessor

Leases in which the Group does not transfer substantially all the risks and rewards of ownership of an asset are classified as operating leases. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognized over the lease term on the same basis as rental income.

(r)

Borrowing costs

Borrowing costs directly attributable to the acquisition, construction or production of an asset that necessarily takes a substantial period of time to get ready for its intended use or sale are capitalized as part of the cost of the asset. All other borrowing costs are expensed in the period in which they occur. Borrowing costs consist of interest and other costs that an entity incurs in connection with the borrowing of funds.

(s)

Provisions

General

Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. When the Group expects some or all of a provision to be reimbursed, the reimbursement is recognized as a separate asset, but only when the reimbursement is virtually certain. The expense relating to a provision is presented in the statement of profit or loss net of any reimbursement.

If the effect of the time value of money is material, provisions are discounted using a current

pre-tax

rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost.

Product warranty

The Group recognizes a liability at the time the product is sold, for the estimated future costs relating to the assurance-type warranties, to be incurred under the lower of a warranty period or warranty mileage on various engine models, on which the Group provides free repair and replacement. For

on-road

applications engines, warranties extend for a duration (generally 12 to 60 months) or mileage (generally 50,000 to 360,000 kilometers), whichever materializes first. For other applications engines, warranties extend for a duration of generally 12 to 28 months or running hours of 1,000 to 3,500 hours, whichever materializes first. Provisions for warranty are primarily determined based on historical warranty cost per unit of engines sold adjusted for specific conditions that may arise and the number of engines under warranty at each financial year. If the nature, frequency and average cost of warranty claims change, the accrued liability for product warranty will be adjusted accordingly.

Onerous contract

A provision for onerous contracts is recognized when the unavoidable costs of meeting the obligations under a contract exceed the economic benefits expected to be received under it.

(t)

Pensions and other post-employment benefits

Defined contribution plans

The Group participates in and makes contributions to the national pension schemes as defined by the laws of the countries in which it has operations. The contributions are at a fixed proportion of the basic salary of the staff. Contributions to defined contribution pension schemes are recognized as an expense in the period in which the related services are performed.

Employee leave entitlement

Employee entitlements to annual leave are recognized as a liability when they are accrued to the employees. The undiscounted liability for leave expected to be settled wholly before twelve months after the end of the reporting period is recognized for services rendered by employees up to the end of the reporting period.

(u)

Share-based payments

Employees (including senior executives) of the Group receive remuneration in the form of share-based payments, whereby employees render services as consideration for equity instruments (“equity-settled transactions”).

Equity-settled transactions

The cost of equity-settled transactions is determined by the fair value at the date when the grant is made using an appropriate valuation model, further details of which are given in Note 23.

That cost is recognized in “Staff costs” (Note 8.4), together with a corresponding increase in performance share reserve in equity, over the period in which the performance and/or service conditions are fulfilled (the vesting period). The cumulative expense recognized for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Group’s best estimate of the number of equity instruments that will ultimately vest. The expense or credit in the statement of profit or loss for a period represents the movement in cumulative expense recognized as at the beginning and end of that period.

No expense is recognized for awards that do not ultimately vest, except for equity-settled transactions for which vesting is conditional upon a market or

non-vesting

condition. These are treated as vested irrespective of whether the market or

non-vesting

condition is satisfied, provided that all other performance and/or service conditions are satisfied.

When the terms of an equity-settled award are modified, the minimum expense recognized is the expense had the terms not been modified, provided the original terms of the award are met. An additional expense, measured as at the date of modification, is recognized for any modification that increases the total fair value of the share-based payment transaction, or is otherwise beneficial to the employee. Where an award is cancelled by the entity or by the counterparty, any remaining element of the fair value of the award is expensed immediately through profit or loss.

The dilutive effect of outstanding options is reflected as additional share dilution in the computation of diluted earnings per share (further details are given in Note 10).

(v)

Development properties

Development properties are properties acquired or being constructed for sale in the ordinary course of business, rather than to be held for the Group’s own use, rental or capital appreciation.

Development properties are held as other asset and are measured at the lower of cost and net realizable value.

Costs to complete development include cost of land and other direct and related development expenditure, including borrowing costs incurred in developing the properties.

Net realizable value of development properties is the estimated selling price in the ordinary course of business, based on market prices at the reporting date and discounted for the time value of money if material, less the estimated costs of completion and the estimated costs necessary to make the sale.

The costs of development properties recognized in profit or loss on disposal are determined with reference to the specific costs incurred on the property sold and an allocation of any

non-specific

costs based on the relative size of the property sold.

(w)

Derivative financial instruments

Initial recognition and subsequent measurement

The Group uses derivative financial instruments, such as forward currency contracts, to hedge its foreign currency risks. Such derivative financial instruments are initially recognized at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at fair value through profit or loss. Derivatives are carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative.

2.4	Changes in accounting policies and disclosures

New and amended standards and interpretations

The Group applied IFRS 16

Leases

for the first time. The nature and effect of the changes as a result of adoption of this new accounting standard is described below.

Several other amendments and interpretations apply for the first time in 2019, but do not have an material impact on the consolidated financial statements of the Group. The Group has not early adopted any standards, interpretations or amendments that have been issued but are not yet effective.

IFRS 16

Leases

IFRS 16 supersedes IAS 17

Leases

, IFRIC 4

Determining whether an Arrangement contains a Lease

SIC-15

Operating Leases-Incentives

and

SIC-27

Evaluating the Substance of Transactions Involving the Legal Form of a Lease

. The standard set out the principles for the recognition, measurement, presentation and disclosure of leases and requires lessees to recognize most leases on the balance sheet.

Lessor accounting under IFRS 16 is substantially unchanged from IAS 17. Lessors will continue to classify leases as either operating or finance leases using similar principles as in IAS 17. Therefore, IFRS 16 does not have an impact for leases where the Group is the lessor.

The Group adopted IFRS 16 using the modified retrospective method of adoption with the date of initial application of January 1, 2019. Under this method, the standard is applied retrospectively with the cumulative effect of initially applying the standard recognized at the date of initial application. The Group elected to use the transition practical expedient to not reassess whether a contract is, or contains a lease at January 1, 2019. Instead, the Group applied the standard only to contracts that were previously identified as leases applying IAS 17 and IFRIC 4 at the date of initial application.

The effect of adoption IFRS 16 as at January 1, 2019 (increase/(decrease)) is, as follows:


	RMB’000			US$’000
Assets
Prepaid operating leases		(367,092	)		(51,812	)
Property, plant and equipment		(39	)		(6	)
Right-of-use assets		446,608			63,035
Trade and other receivables - Prepayment		(1,770	)		(250	)

Total assets		77,707			10,967

Current Liabilities
Lease liabilities		42,457			5,992
Other liabilities		(14	)		(2	)
Trade and other payables - Accruals		(19,097	)		(2,695	)

Total current liabilities		23,346			3,295

Non-current Liabilities
Lease liabilities		54,395			7,677
Other liabilities		(34	)		(5	)

Total non-current liabilities		54,361			7,672

The Group has lease contracts for various items of land, motor vehicle, office space and other equipment. Before the adoption of IFRS 16, the Group classified each of its leases (as lessee) at the inception date as either a finance lease or an operating lease. Refer to Note 2.3 (q)

Leases

for the accounting policy prior to January 1, 2019.

Upon adoption of IFRS 16, the Group applied a single recognition and measurement approach for all leases except for short-term leases and leases of

low-value

assets. Refer to Note 2.3 (q)

Leases

for the accounting policy beginning January 1, 2019. The standard provides specific transition requirements and practical expedients, which have been applied by the Group.

(i)

Leases previously classified as finance leases

The Group did not change the initial carrying amounts of recognized assets and liabilities at the date of initial application for leases previously classified as finance leases. The requirements of IFRS 16 were applied to these leases from January 1, 2019.

(ii)

Leases previously accounted for as operating leases

The Group recognized

right-of-use

assets and lease liabilities for those leases previously classified as operating leases, except for short-term leases and leases of

low-value

assets. The

right-of-use

assets for most leases were recognized based on the carrying amount as if the standard had always been applied, apart from the use of incremental borrowing rate at the date of initial application. In all leases, the

right-of-use

assets were recognized based on the amount equal to the lease liabilities, adjusted for any related prepaid and accrued lease payments previously recognized. Lease liabilities were recognized based on the present value of the remaining lease payments, discounted using the incremental borrowing rate at the date of initial application.

The Group also applied the available practical expedients wherein it:

•

Used a single discount rate to a portfolio of leases with reasonably similar characteristics

•

Relied on its assessment of whether leases are onerous immediately before the date of initial application

•

Applied the short-term leases exemptions to leases with lease term that ends within 12 months of the date of initial application

•

Excluded the initial direct costs from the measurement of the

right-of-use

asset at the date of initial application

•

Used hindsight in determining the lease term where the contract contained options to extend or terminate the lease

Based on the above, as at January 1, 2019:

•

Right-of-use

assets of RMB 446.6 million (US$63.0 million) were recognized and presented separately in the statement of financial position. This includes the lease assets recognized previously under finance leases of RMB 0.04 million (US$0.01 million) that were reclassified from property, plant and equipment, prepaid operating leases of RMB 367.1 million (US$51.8 million) were reclassified from prepaid operating leases and prepayment for rental of RMB 1.8 million (US$0.3 million) were reclassified from trade and other receivables.

•

Additional lease liabilities of RMB 96.9 million (US$13.7 million) were recognized.

•

Prepaid operating leases of RMB 367.1 million (US$51.8 million), trade and other receivables - prepayment RMB 1.8 million (US$0.3 million) and trade and other payables - accrual of RMB 19.1 million (US$2.7 million) related to previous operating leases were derecognized.

•

Other liabilities of RMB 0.05 million (US$0.01 million) related to previous finance leases were derecognized.

The lease liabilities as at January 1, 2019 can be reconciled to the operating lease commitments as of December 31, 2018, as follows:


	RMB’000			US$’000
Assets
Operating lease commitments as at December 31, 2018		101,700			14,354
Less:
Commitments relating to short-term leases		(2,140	)		(302	)
Revised rental		(13,878	)		(1,959	)

Adjusted operating lease commitments		85,682			12,093
Weighted average incremental borrowing rate as at January 1, 2019		4.34	%		4.34	%

Discounted operating lease commitments as at January 1, 2019		79,477			11,218
Less:
Prepayment adjusted to lease liabilities		(1,770	)		(250	)
Add:
Commitments relating to leases previously classified as finance leases		48			7
Accrual adjusted to lease liabilities		19,097			2,695

Lease liabilities as at January 1, 2019 (Note 19)		96,852			13,670

IFRIC Interpretation 23

Uncertainty over Income Tax Treatments

The Interpretation addresses the accounting for income taxes when tax treatments involve uncertainty that affects the application of IAS 12. The Interpretation does not apply to taxes or levies outside the scope of IAS 12, nor does it specifically include requirements relating to interest and penalties associated with uncertain tax treatments. The Interpretation specifically addresses the following:

•

Whether an entity considers uncertain tax treatments separately

•

The assumptions an entity makes about the examination of tax treatments by taxation authorities

•

How an entity determines taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates

•

How an entity considers changes in facts and circumstances

The Group determines whether to consider each uncertain tax treatment separately or together with one or more other uncertain tax treatments and uses the approach that better predicts the resolution of the uncertainty.

The Group applies significant judgement in identifying uncertainties over income tax treatments. Since the Group operates in a complex multinational environment, it assessed whether the Interpretation had an impact on its consolidated financial statements.

The Interpretation did not have material impact on the consolidated financial statements of the Group.

Amendments to IFRS 9 Prepayment Features with Negative Compensation

Under IFRS 9, a debt instrument can be measured at amortized cost or at fair value through other comprehensive income, provided that the contractual cash flows are ‘solely payments of principal and interest on the principal amount outstanding’ (the SPPI criterion) and the instrument is held within the appropriate business model for that classification. The amendments to IFRS 9 clarify that a financial asset passes the SPPI criterion regardless of an event or circumstance that causes the early termination of the contract and irrespective of which party pays or receives reasonable compensation for the early termination of the contract. These amendments had no impact on the consolidated financial statements of the Group.

Amendments to IAS 19

Plan Amendment, Curtailment or Settlement

The amendments to IAS 19 address the accounting when a plan amendment, curtailment or settlement occurs during a reporting period. The amendments specify that when a plan amendment, curtailment or settlement occurs during the annual reporting period, an entity is required to determine the current service cost for the remainder of the period after the plan amendment, curtailment or settlement, using the actuarial assumptions used to remeasure the net defined benefit liability (asset) reflecting the benefits offered under the plan and the plan assets after that event. An entity is also required to determine the net interest for the remainder of the period after the plan amendment, curtailment or settlement using the net defined benefit liability (asset) reflecting the benefits offered under the plan and the plan assets after that event, and the discount rate used to remeasure that net defined benefit liability (asset).

The amendments had no impact on the consolidated financial statements of the Group as it did not have defined benefit plans.

Amendments to IAS 28

Long-term interests in associates and joint ventures

The amendments clarify that an entity applies IFRS 9 to long-term interests in an associate or joint venture to which the equity method is not applied but that, in substance, form part of the net investment in the associate or joint venture (long-term interests). This clarification is relevant because it implies that the expected credit loss model in IFRS 9 applies to such long-term interests.

The amendments also clarified that, in applying IFRS 9, an entity does not take account of any losses of the associate or joint venture, or any impairment losses on the net investment, recognized as adjustments to the net investment in the associate or joint venture that arise from applying IAS 28

Investments in Associates and Joint Ventures

These amendments had no impact on the consolidated financial statements as the Group does not have long-term interests in its associate and joint venture.

Annual improvements 2015-2017 cycle

IFRS 3

Business Combinations

The amendments clarify that, when an entity obtains control of a business that is a joint operation, it applies the requirements for a business combination achieved in stages, including remeasuring previously held interests in the assets and liabilities of the joint operation at fair value. In doing so, the acquirer remeasures its entire previously held interest in the joint operation.

An entity applies those amendments to business combinations for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after January 1, 2019, with early application permitted.

These amendments had no impact on the consolidated financial statements of the Group as there is no transaction where the Group obtains control of a business that is joint operation.

IFRS 11

Joint Arrangements

An entity that participates in, but does not have joint control of, a joint operation might obtain joint control of the joint operation in which the activity of the joint operation constitutes a business as defined in IFRS 3. The amendments clarify that the previously held interests in that joint operation are not remeasured.

An entity applies those amendments to transactions in which it obtains joint control on or after the beginning of the first annual reporting period beginning on or after January 1, 2019, with early application permitted.

These amendments had no impact on the consolidated financial statements of the Group as there is no transaction where a joint control is obtained.

IAS 12

Income Taxes

The amendments clarify that the income tax consequences of dividends are linked more directly to past transactions or events that generated distributable profits than to distributions to owners. Therefore, an entity recognizes the income tax consequences of dividends in profit or loss, other comprehensive income or equity according to where it originally recognized those past transactions or events.

An entity applies the amendments for annual reporting periods beginning on or after January 1, 2019, with early application permitted. When the entity first applies those amendments, it applies them to the income tax consequences of dividends recognized on or after the beginning of the earliest comparative period.

Since the Group’s current practice is in line with these amendments, they had no impact on the consolidated financial statements of the Group.

IAS 23

Borrowing Costs

The amendments clarify that an entity treats as part of general borrowings any borrowing originally made to develop a qualifying asset when substantially all of the activities necessary to prepare that asset for its intended use or sale are complete.

The entity applies the amendments to borrowing costs incurred on or after the beginning of the annual reporting period in which the entity first applies those amendments. An entity applies those amendments for annual reporting periods beginning on or after January 1, 2019, with early application permitted.

Since the Group’s current practice is in line with these amendments, they had no impact on the consolidated financial statements of the Group.

2.5	Standards issued but not yet effective

The new and amended standards and interpretations that are issued, but not yet effective, up to the date of issuance of the Group’s financial statements are disclosed below. The Group intends to adopt these new and amended standards and interpretations, if applicable, when they become effective.

IFRS 17

Insurance Contracts

In May 2017, the IASB issued IFRS 17

Insurance Contracts

(“IFRS 17”), a comprehensive new accounting standard for insurance contracts covering recognition and measurement, presentation and disclosure. Once effective, IFRS 17 will replace IFRS 4

Insurance Contracts

(“IFRS 4”) that was issued in 2005. IFRS 17 applies to all types of insurance contracts (i.e., life,

non-life,

direct insurance and

re-insurance),

regardless of the type of entities that issue them, as well as to certain guarantees and financial instruments with discretionary participation features. A few scope exceptions will apply. The overall objective of IFRS 17 is to provide an accounting model for insurance contracts that is more useful and consistent for insurers. In contrast to the requirements in IFRS 4, which are largely based on grandfathering previous local accounting policies, IFRS 17 provides a comprehensive model for insurance contracts, covering all relevant accounting aspects. The core of IFRS 17 is the general model, supplemented by:

•

A specific adaptation for contracts with direct participation features (the variable fee approach)

•

A simplified approach (the premium allocation approach) mainly for short-duration contracts

IFRS 17 is effective for reporting periods beginning on or after January 1, 2021, with comparative figures required. Early application is permitted, provided the entity also applies IFRS 9 and IFRS 15 on or before the date it first applies IFRS 17. This standard is not applicable to the Group.

Amendments to IFRS 3

Definition of a Business

In October 2018, the IASB issued amendments to the definition of a business in IFRS 3

Business Combinations

to help entities determine whether an acquired set of activities and assets is a business or not. They clarify the minimum requirements for a business, remove the assessment of whether market participants are capable of replacing any missing elements, add guidance to help entities assess whether an acquired process is substantive, narrow the definitions of a business and of outputs, and introduce an optional fair value concentration test. New illustrative examples were provided along with the amendments.

Since the amendments apply prospectively to transactions or other events that occur on or after the date of first application, the Group will not be affected by these amendments on the date of transition.

Amendments to IAS 1 and IAS 8

Definition of Material

In October 2018, the IASB issued amendments to IAS 1

Presentation of Financial Statements

and IAS 8

Accounting Policies, Changes in Accounting Estimates and Errors

to align the definition of ‘material’ across the standards and to clarify certain aspects of the definition. The new definition states that, ‘Information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity.’

The amendments to the definition of material is not expected to have a significant impact on the Group’s consolidated financial statements.

Significant accounting judgments, estimates and assumptions

12 Months Ended

Dec. 31, 2019

Significant accounting judgments, estimates and assumptions

3.	Significant accounting judgments, estimates and assumptions

The preparation of the Group’s consolidated financial statements requires management to make judgments, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, the accompanying disclosures, and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods.

Other disclosures relating to the Group’s exposure to risks and uncertainties includes:

•

Capital management (Note 31)

•

Financial risk management objectives and policies (Note 33)

•

Sensitivity analyses disclosures (Note 13, 14 and 33)

3.1

Judgments

In the process of applying the Group’s accounting policies, management has made the following judgments, which have the most significant effect on the amounts recognized in the consolidated financial statements:

Revenue from contracts with customers

The Group applied the following judgments that significantly affect the determination of the amount and timing of revenue from contracts with customers:

•

Identifying contract price and performance obligations in sales of engines

The Group provides certain warranties for both general repairs and maintenance service as part of the sales of engines. For general repairs, such warranties will be assurance-type warranty that will continue to be accounted for under IAS 37

Provisions, Contingent Liabilities and Contingent Assets

. For maintenance services, it will be accounted for as a service-type warranties that are capable of being distinct and customers can benefit from the service on its own. Hence, the Group identified two separate performance obligation, one is the promise to transfer the engine and the other one is to provide maintenance services after reaching certain

on-road

mileage or running hours. Consequently, the Group allocated a portion of the transaction price to the engines and the maintenance services based on a combination of expected cost plus a margin and residual approaches.

Derecognition of bills receivable

The Group sell bills receivable to banks on an ongoing basis depending on funding needs and money market conditions. While the buyer is responsible for servicing the receivables upon maturity of the bills receivable, Chinese law governing bills allows recourse to be traced to all the parties in the discounting process. In relation to the derecognition of bills receivable when discounted, the management believes that the contractual right to receive the cash flows from the asset have terminated with the Group, but transferred to the banks. Accordingly, bills receivable are derecognized, and a discount equal to the difference between the carrying value of the bills receivable and cash received is recorded in the statement of profit or loss. Please refer to Note 17.

Deferred tax assets

Deferred tax assets are recognized for unused tax losses to the extent that it is probable that taxable profit will be available against which the losses can be utilized. Significant management judgment is required to determine the amount of deferred tax assets that can be recognized, based upon the likely timing and the level of future taxable profits together with future tax planning strategies. The carrying amounts of deferred tax assets as of December 31, 2018 and 2019 are RMB 361.2 million and RMB 423.0 million (US$59.7 million) respectively, and primarily relate to unutilized capital allowances and investment allowances, as well as other unrecognized temporary differences relating to asset impairment and deferred grants. If the Group was able to recognize all unrecognized deferred tax assets, profit would increase by RMB 162.0 million (US$22.9 million) for year ended December 31, 2019 (2018: RMB 160.0 million).

Development costs

Development costs are capitalized in accordance with the accounting policy in Note 2.3(l). Initial capitalization of costs is based on management’s judgment that technological and economic feasibility is confirmed, usually when a product development project has reached a defined milestone according to an established project management model.

3.2	Estimates and assumptions

The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Group based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Group. Such changes are reflected in the assumptions when they occur.

Impairment of

non-financial

assets

Impairment exists when the carrying value of an asset or cash-generating unit exceeds its recoverable amount, which is the higher of its fair value less costs of disposal and its value in use. The fair value less costs of disposal calculation is based on available data from binding sales transactions, conducted at arm’s length, for similar assets or observable market prices less incremental costs for disposing of the asset. The value in use calculation is based on a discounted cash flow (“DCF”) model. The cash flows are derived from the forecasts for the next ten years and do not include restructuring activities that the Group is not yet committed to or significant future investments that will enhance the asset’s performance of the CGU being tested. The Group, based on its history of operations, believes that the adoption of forecast for more than five years is reasonable. The recoverable amount is sensitive to the discount rate used for the DCF model as well as the expected future cash-inflows and the growth rate used for extrapolation purposes. These estimates are most relevant to goodwill, development costs and trademarks recognized by the Group. The key assumptions used to determine the recoverable amount for the different CGUs and assets, including a sensitivity analysis, are disclosed and further explained in Note 14.

Allowance for inventory obsolescence

Management reviews the inventory listing on a periodic basis. This review involves comparison of the carrying value of the inventory items with the respective net realizable value. The purpose is to ascertain whether an allowance is required to be made in the financial statements for any obsolete and slow-moving items. The carrying amounts of allowance for inventory obsolescence as at December 31, 2018 and 2019 were RMB 93.6 million and RMB 108.7 million (US$15.3 million) respectively.

Investments in subsidiaries

12 Months Ended

Dec. 31, 2019

Investments accounted for using equity method [abstract]

Investments in subsidiaries

4.	Investments in subsidiaries

Details of significant subsidiaries of the Group are as follows:


Name of significant subsidiary	Place of incorporation/ business	Group’s effective equity interest
		31.12.2018		31.12.2019
		%		%

Guangxi Yuchai Machinery Company Limited	People’s Republic of China		76.4		76.4
Guangxi Yuchai Machinery Monopoly Development Co., Ltd	People’s Republic of China		54.9		54.9
Guangxi Yuchai Accessories Manufacturing Company Limited	People’s Republic of China		76.4		76.4
Guangxi Yuchai Equipment Mould Company Limited	People’s Republic of China		76.4		76.4
Guangxi Yulin Hotel Company Limited	People’s Republic of China		76.4		76.4
Jining Yuchai Engine Company Limited	People’s Republic of China		76.4		76.4
Yuchai Remanufacturing Services (Suzhou) Co., Ltd.	People’s Republic of China		76.4		76.4
HL Global Enterprises Limited	Singapore		50.2		50.2

The Group has the following subsidiary that has

non-controlling

interests (“NCI”) that are material to the Group.


	31.12.2017			31.12.2018			31.12.2019
Proportion of equity interest held by NCI
Yuchai		23.6	%		23.6	%		23.6	%


	31.12.2017 RMB’000		31.12.2018 RMB’000		31.12.2019 RMB’000		31.12.2019 US$’000
Accumulated balances of material NCI
Yuchai				2,556,644		2,603,227		367,423

Profit allocated to material NCI
Yuchai		270,452		252,394		254,284		35,890

Dividends paid to material NCI
Yuchai		98,941		135,905		207,514		29,289

Summarized financial information including goodwill on acquisition and consolidation adjustments but before intercompany eliminations of subsidiaries with material

non-controlling

interests are as follows:


	31.12.2017
	Yuchai RMB’000
Summarized statement of comprehensive income
Revenue		16,140,621

Profit for the year, representing total comprehensive income for the year		960,359

Attributable to NCI		270,452

Summarized statement of cash flows
Operating		1,435,156
Investing		(215,817	)
Financing		221,660

Net increase in cash and cash equivalents		1,440,999


	31.12.2018
	Yuchai
	RMB’000
Summarized statement of financial position
Current assets		15,498,171
Non-current assets, excluding goodwill		4,925,347
Goodwill		212,636
Current liabilities		(9,489,499	)
Non-current liabilities		(828,993	)

Net assets		10,317,662

Total equity		10,317,662

Attributable to NCI		2,556,644

Summarized statement of comprehensive income
Revenue		16,210,467

Profit for the year		972,010

Total comprehensive income for the year		867,438

Attributable to NCI		252,394

Summarized statement of cash flows
Operating		701,716
Investing		(331,416	)
Financing		(66,975	)

Net increase in cash and cash equivalents		303,325


	31.12.2019
	Yuchai
	RMB’000			US$’000
Summarized statement of financial position
Current assets		16,444,627			2,321,015
Non-current assets, excluding goodwill		6,160,217			869,461
Goodwill		212,636			30,012
Current liabilities		(11,162,938	)		(1,575,551	)
Non-current liabilities		(964,084	)		(136,072	)

Net assets		10,690,458			1,508,865

Total equity		10,690,458			1,508,865

Attributable to NCI		2,603,227			367,423

Summarized statement of comprehensive income
Revenue		17,980,304			2,537,763

Profit for the year		825,807			116,555

Total comprehensive income for the year		828,861			116,987

Attributable to NCI		254,284			35,890

Summarized statement of cash flows
Operating		1,632,557			230,421
Investing		(858,904	)		(121,227	)
Financing		(656,576	)		(92,670	)

Net increase in cash and cash equivalents		117,077			16,524

Significant restrictions

The nature and extent of significant restrictions on the Group’s ability to use or access assets and settle liabilities of subsidiaries with material

non-controlling

interests are:

At the end of the reporting period, cash and cash equivalents of RMB 5,112.8 million (US$721.6 million) (2018: RMB 5,015.2 million) held in the PRC are subject to local exchange control regulations. These regulations places restriction on the amount of currency being exported other than through dividends, trade and service related transactions.

Acquisition of ownership in subsidiaries, without change in control in 2017

(i)

In June 2017, GYAMC acquired 25% of equity interest in Guangxi Yuchai Crankshaft Co., Limited (“Crankshaft”) from

non-controlling

interest for a cash consideration of RMB 1.3 million. As a result, Crankshaft became wholly owned subsidiary of GYAMC.

(ii)

In October 2017, YMMC acquired 49% of equity interest in Hunan Yuchai Machinery Industry Company Limited (“YMMC Hunan”) from

non-controlling

interest for a cash consideration of RMB 6.7 million. As a result, YMMC Hunan became wholly owned subsidiary of YMMC.

(iii)

In November 2017, Yuchai acquired 100% issued shares in Jining Yuchai for a cash consideration of RMB 0.3 million. As a result, Jining Yuchai became wholly owned subsidiary of Yuchai.

Prior to the acquisition, Yuchai control 100% of Jining Yuchai through various contractual agreements and consolidated Jining Yuchai’s financial results in the Group’s consolidated financial statements.

Disposal of subsidiaries in 2017

On November 22, 2017, HLGE disposed its entire shareholding in its wholly owned subsidiary, LKN Investment International Pte. Ltd (“LKNII”) together with LKNII’s wholly owned subsidiary, Shanghai Hutai Real Estate Development Co., Ltd to a third party for a cash consideration of RMB 395.0 million.

The value of assets and liabilities of the disposal recorded in the consolidated financial statements and the cash flow effect of the disposals were:


	31.12.2017
	RMB’000
Property, plant and equipment		104,844
Trade receivables and other receivables		3,257
Cash and bank balances		9,153

		117,254
Trade and other payables		(3,737	)
Provision for taxation		(44	)
Deferred taxation		(588	)

Carrying value of net assets		112,885

Gain on disposal:
Total consideration		395,000
Less: Cost of disposal		(47,532	)

Total consideration less cost of disposal		347,468
Net assets derecognized		(112,885	)
Realization of foreign translation reserves upon disposal		(18,468	)

Gain on disposal of the subsidiaries (Note 8.2(a))		216,115

Total consideration less cost of disposal		347,468
Add: Transaction cost unpaid		33,287
Less: Retention sum receivables		(30,000	)
Cash and bank balances of the subsidiaries		(9,153	)

Net cash inflow on disposal of the subsidiaries		341,602

Acquisition of ownership in subsidiaries,

without change in control in 2019

In February 2019, Yuchai acquired 7.5% of equity interest in YC Europe Co., Ltd. (“YC Europe”) from non-controlling interest for a cash consideration of RMB 0.1 million (less than US$0.1 million). As a result, Yuchai’s shareholding in YC Europe increased from 67.5% to 75.0%.

Investment in associates

12 Months Ended

Dec. 31, 2019

Investments accounted for using equity method [abstract]

Investment in associates

5.	Investment in associates

The Group’s investment in associates are summarized as below:


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Share of loss of associates, net of tax		28		59		181		26


			31.12.2018		31.12.2019		31.12.2019
			RMB’000		RMB’000		US$’000
Carrying amount of investment				2,130		1,955		276

Details of the associates are as follows:


Name of company	Principal activities	Place of incorporation/ business		Group’s effective equity interest
				31.12.2018		31.12.2019
				%		%
Held by subsidiaries
Sinjori Sdn. Bhd.	Property investment and development		Malaysia		14.0		14.0
Guangxi Yuchai Quan Xing Machinery Co., Ltd. (“Quan Xing”)	Manufacture spare part and sales of auto spare part, diesel engine & spare part, metallic materials, generator & spare part, chemical products (exclude dangerous goods), lubricating oil		People’s Republic of China		15.3		15.3

Investment in joint ventures

12 Months Ended

Dec. 31, 2019

Investments accounted for using equity method [abstract]

6.	Investment in joint ventures


	31.12.2017			31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			RMB’000			US$’000
Share of profit/(loss) of joint ventures, net of tax:
Y & C Engine Co., Ltd		17,755			17,612			28,484			4,020
MTU Yuchai Power Co., Ltd.		(8,487	)		(6,882	)		594			84
Eberspaecher Yuchai Exhaust Technology Co., Ltd		—			—			(9,366	)		(1,322	)
Other joint ventures.		814			963			(497	)		(70	)

		10,082			11,693			19,215			2,712


				31.12.2018			31.12.2019			31.12.2019
				RMB’000			RMB’000			US$’000
Carrying amount of investments:
Y & C Engine Co., Ltd					155,681			176,082			24,852
MTU Yuchai Power Co., Ltd					59,632			59,931			8,459
Eberspaecher Yuchai Exhaust Technology Co., Ltd (1)					—			31,794			4,487
Other joint ventures					7,499			6,184			873

					222,812			273,991			38,671

Note:

(i)

Eberspaecher Yuchai was incorporated on December 5, 2018. In March 2019 and December 2019, the Group injected RMB 17.6 million (US$2.5 million) and RMB 23.5 million (US$3.3 million) respectively into Eberspaecher Yuchai as payment of its investment.

The Group has interests in the following joint ventures:


Name of company	Principal activities	Place of incorporation/ business		Group’s effective equity interest
				31.12.2018		31.12.2019
				%		%
Held by subsidiaries

HL Heritage Sdn. Bhd.	Property development and property investment holdings		Malaysia		30.1		30.1

Shanghai Hengshan Equatorial Hotel Management Co., Ltd.	Hotel and property management		People’s Republic of China		24.6		24.6

Y & C Engine Co., Ltd (“Y&C”)	Manufacture and sale of heavy duty diesel engines, spare parts and after-sales services		People’s Republic of China		34.4		34.4

Guangxi Yineng IOT Science & Technology Co., Ltd.	Design, development, management and marketing of an electronic operations management platform		People’s Republic of China		15.3		15.3

MTU Yuchai Power Co., Ltd (“MTU Yuchai Power”)	Manufacture off-road diesel engines		People’s Republic of China		38.2		38.2

Eberspaecher Yuchai Exhaust Technology Co. Ltd (“Eberspaecher Yuchai”)	Application development, production, sales and service on engine exhaust control systems		People’s Republic of China		37.4		37.4

The Group assess impairment of investments when adverse events or changes in circumstances indicate that the carrying amounts may not be recoverable. If the recoverable amount of investment is below its carrying amount, an impairment charge is recognized. The Group performs evaluation of the value of its investment using a discounted cash flows projection or fair value less cost of disposal where appropriate. The projection will be performed using historical trends as a reference and certain assumptions to project the future streams of cash flows.

In 2018 and 2019, the Group has performed an impairment evaluation of its investments in joint ventures and no impairment was required.


	31.12.2017
	Y & C			MTU Yuchai Power			Total
	RMB’000			RMB’000			RMB’000
Revenue		1,331,823			—			1,331,823
Depreciation and amortization		(20,831	)		(227	)		(21,058	)
Interest expense		(28,663	)		(343	)		(29,006	)
Profit/(loss) for the year, representing total comprehensive income for the year		55,982			(16,973	)		39,009

Proportion of the Group’s ownership		45	%		50	%

Group’s share of profit/(loss)		25,192			(8,487	)
Unrealized profit on transactions with joint venture		(7,437	)		—

Group’s share of profit/(loss) of significant joint ventures		17,755			(8,487	)		9,268

Group’s share of profit of other joint ventures, representing the Group’s share of total comprehensive income of other joint ventures								814

Group’s share of profit for the year, representing the Group’s share of total comprehensive income for the year								10,082


	31.12.2018
	Y & C			MTU Yuchai Power			Total
	RMB’000			RMB’000			RMB’000
Non-current assets		755,671			72,342			828,013
Current assets
- Cash and bank balances		113,061			21,707			134,768
- Others		646,751			209,022			855,773

Total assets		1,515,483			303,071			1,818,554

Non-current liabilities		(46,603	)		—			(46,603	)
Current liabilities
- Loans and borrowings		(51,534	)		—			(51,534	)
- Others		(942,306	)		(174,242	)		(1,116,548	)

Total liabilities		(1,040,443	)		(174,242	)		(1,214,685	)

Equity		475,040			128,829			603,869

Proportion of the Group’s ownership		45	%		50	%

Group’s share of net assets		213,768			64,415
Unrealized profit on transactions with joint venture		(58,087	)		(4,783	)

Carrying amount of significant joint ventures		155,681			59,632			215,313

Carrying amount of other joint ventures								7,499

Carrying amount of the investment in joint ventures								222,812


	31.12.2018
	Y & C			MTU Yuchai Power			Total
	RMB’000			RMB’000			RMB’000
Revenue		1,443,238			160,580			1,603,818
Depreciation and amortization		(45,254	)		(3,744	)		(48,998	)
Interest expense		(24,605	)		(1,689	)		(26,294	)
Profit/(loss) for the year, representing total comprehensive income for the year		43,359			(4,197	)		39,162

Proportion of the Group’s ownership		45	%		50	%

Group’s share of profit/(loss)		19,512			(2,099	)
Unrealized profit on transactions with joint venture		(1,900	)		(4,783	)

Group’s share of profit/(loss) of significant joint ventures		17,612			(6,882	)		10,730

Group’s share of profit of other joint ventures, representing the Group’s share of total comprehensive income of other joint ventures								963

Group’s share of profit for the year, representing the Group’s share of total comprehensive income for the year								11,693


	31.12.2019
	Y & C			MTU Yuchai Power			Eberspaecher Yuchai			Total			Total
	RMB’000			RMB’000			RMB’000			RMB’000			US$’000
Non-current assets		774,046			78,362			24,001			876,409			123,697
Current assets
- Cash and bank balances		164,942			9,265			54,567			228,774			32,289
- Others		1,060,805			221,482			7,970			1,290,257			182,109

Total assets		1,999,793			309,109			86,538			2,395,440			338,095

Non-current liabilities		(84,154	)		—			—			(84,154	)		(11,878	)
Current liabilities
- Others		(1,396,116	)		(179,680	)		(21,651	)		(1,597,447	)		(225,466	)

Total liabilities		(1,480,270	)		(179,680	)		(21,651	)		(1,681,601	)		(237,344	)

Equity		519,523			129,429			64,887			713,839			100,751

Proportion of the Group’s ownership		45	%		50	%		49	%

Group’s share of net assets		233,786			64,714			31,794
Unrealized profit on transactions with joint venture		(57,704	)		(4,783	)		—

Carrying amount of significant joint ventures		176,082			59,931			31,794			267,807			37,798

Carrying amount of other joint ventures											6,184			873

Carrying amount of the investment in joint ventures											273,991			38,671


	31.12.2019
	Y & C			MTU Yuchai Power			Eberspaecher Yuchai			Total			Total
	RMB’000			RMB’000			RMB’000			RMB’000			US$’000
Revenue		2,404,244			178,796			3,509			2,586,549			365,069
Depreciation and amortization		(26,099	)		(6,379	)		(25	)		(32,503	)		(4,588	)
Interest expense		(29,606	)		(5,017	)		—			(34,623	)		(4,887	)
Profit/(loss) for the year, representing total comprehensive income for the year		44,484			600			(19,114	)		25,970			3,665

Proportion of the Group’s ownership		45	%		50	%		49	%

Group’s share of profit/(loss)		20,018			300			(9,366	)
Unrealized profit on transactions with joint venture		8,466			294			—

Group’s share of profit/(loss) of significant joint ventures		28,484			594			(9,366	)		19,712			2,782

Group’s share of loss of other joint ventures, representing the Group’s share of total comprehensive loss of other joint ventures											(497	)		(70	)

Group’s share of profit for the year, representing the Group’s share of total comprehensive income for the year											19,215			2,712

Note:

As of December 31, 2019, the Group’s share of joint ventures’ capital commitment that are contracted but not paid was RMB 81.0 million (US$11.4 million) (2018: RMB 38.0 million).

As of December 31, 2019, the Group’s share of outstanding bills receivables discounted with banks for which Y & C retained a recourse obligation totaled RMB 45.0 million (US$6.3 million) (2018: RMB 98.0 million).

As of December 31, 2019, the Group’s share of outstanding bills receivables endorsed to suppliers for which Y & C retained a recourse obligation were RMB 11.4 million (US$1.6 million) (2018: RMB 1.7 million).

Significant restrictions

The nature and extent of significant restrictions on the Group’s ability to use or access assets and settle liabilities of joint ventures are:

The Group’s share of cash and cash equivalents of RMB 44.8 million (US$6.3 million) (2018: RMB 27.3 million) held in the PRC are subject to local exchange control regulations. These regulations places restriction on the amount of currency being exported other than through dividends, trade and service related transactions.

As at December 31, 2019, the Group’s share of restricted cash of RMB Nil (US$ Nil) (2018: RMB 0.7 million) which was used as collateral by the banks for letter of credit facilities granted.

As at December 31, 2019, the Group’s share of restricted cash of RMB 60.8 million (US$8.6 million) (2018: RMB 33.8 million) which was used as collateral by the banks for the issuance of bills to suppliers.

As at December 31, 2019, the Group’s share of bills receivables of RMB 50.8 million (US$7.2 million) (2018: RMB Nil) which was used as collateral by banks for the issuance of bills to suppliers.

Revenue from contracts with customers

12 Months Ended

Dec. 31, 2019

Revenue from contracts with customers

7.	Revenue from contracts with customers

7.1	Disaggregated revenue information

Set out below is the disaggregation of the Group’s revenue from contracts with customers:


	31.12.2017
	Yuchai		HLGE		Total
Segments	RMB’000		RMB’000		RMB’000
Type of goods or services
Heavy-duty engines		5,182,930		—		5,182,930
Medium-duty engines		5,620,202		—		5,620,202
Light-duty engines		2,147,728		—		2,147,728
Other products and services (i)		3,148,016		—		3,148,016
Revenue from hospitality operations		41,746		57,197		98,943

Total revenue from contracts with customers		16,140,622		57,197		16,197,819

Geographical markets
People’s Republic of China		16,073,461		17,265		16,090,726
Other countries		67,161		39,932		107,093

Total revenue from contracts with customers		16,140,622		57,197		16,197,819

Timing of revenue recognition
At a point in time		16,098,876		—		16,098,876
Over time		41,746		57,197		98,943

Total revenue from contracts with customers		16,140,622		57,197		16,197,819


			31.12.2018
			Yuchai		HLGE		Total
Segments			RMB’000		RMB’000		RMB’000
Type of goods or services
Heavy-duty engines				4,934,435		—		4,934,435
Medium-duty engines				5,537,164		—		5,537,164
Light-duty engines				2,481,554		—		2,481,554
Other products and services (i)				3,213,237		—		3,213,237
Revenue from hospitality operations				44,077		52,781		96,858

Total revenue from contracts with customers				16,210,467		52,781		16,263,248

Geographical markets
People’s Republic of China				16,119,896		—		16,119,896
Other countries				90,571		52,781		143,352

Total revenue from contracts with customers				16,210,467		52,781		16,263,248

Timing of revenue recognition
At a point in time				16,166,390		—		16,166,390
Over time				44,077		52,781		96,858

Total revenue from contracts with customers				16,210,467		52,781		16,263,248


	31.12.2019
	Yuchai		HLGE		Total		Total
Segments	RMB’000		RMB’000		RMB’000		US$’000
Type of goods or services
Heavy-duty engines		6,189,934		—		6,189,934		873,655
Medium-duty engines		5,583,982		—		5,583,982		788,130
Light-duty engines		2,429,248		—		2,429,248		342,867
Other products and services (i)		3,732,436		—		3,732,436		526,801
Revenue from hospitality operations		44,704		35,781		80,485		11,360

Total revenue from contracts with customers		17,980,304		35,781		18,016,085		2,542,813

Geographical markets
People’s Republic of China		17,913,615		—		17,913,615		2,528,350
Other countries		66,689		35,781		102,470		14,463

Total revenue from contracts with customers		17,980,304		35,781		18,016,085		2,542,813

Timing of revenue recognition
At a point in time		17,935,600		—		17,935,600		2,531,453
Over time		44,704		35,781		80,485		11,360

Total revenue from contracts with customers		17,980,304		35,781		18,016,085		2,542,813

Note:

(i)

included sales of power generator sets, engine components, service-type maintenance services and others.

7.2	Contract balances


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000
Trade receivables (Note 17)		408,000		738,929		104,293
Capitalized contract cost		44,434		136,457		19,260
Contract liabilities (Note 26)		340,489		436,622		61,626

Trade receivables are

non-interest

bearing and are generally on terms of 60 days.

The contract liabilities comprise short-term advance received from customers and unfulfilled maintenance service. The advance received from customers is recognized as revenue upon the delivery of goods, and the contract liability arising from unfulfilled service-type warranty is recognized upon the completion of the maintenance services. According to the business customary practice, the remaining performance obligations (unfulfilled maintenance service) at the

year-end

is expected to be satisfied within

1-3

years.

The significant increase in contract liabilities in 2019 was mainly due to increase in advance payment from customers as at December 31, 2019 for future product deliveries.

(a)

Set out below is the amount of revenue recognized from:


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000
Amounts include in contract liabilities at the beginning of the year		55,604		72,321		10,207

(b)

Capitalized contract costs


	31.12.2018		31.12.2019			31.12.2019
	RMB’000		RMB’000			US$’000
Capitalized contract costs relating to service fee charges on development of technology know-how
At January 1		—		44,434			6,271
Addition		44,434		93,549			13,204
Utilization		—		(1,526	)		(215	)

At December 31		44,434		136,457			19,260

7.3	Performance obligations

The transaction price allocated to the remaining unsatisfied performance obligations as at 31 December are, as follows:


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000
Within one year		138,025		127,326		17,971
More than one year		53,703		53,813		7,595

The remaining performance obligations expected to be recognized in more than one year relate to the unfulfilled maintenance service that is to be satisfied within 3 years.

Other income and expenses recognized in statement of profit and loss

12 Months Ended

Dec. 31, 2019

Other income and expenses recognized in statement of profit and loss

8.1	Depreciation, amortization, shipping and handling expenses

(a)

Depreciation and amortization expenses


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Amortization of intangible assets		—		—		1,012		143
Amortization of prepaid operating lease		12,366		12,724		—		—
Depreciation of investment property		248		884		380		54
Depreciation of property, plant and equipment		431,567		420,277		422,859		59,683
Depreciation of right-of-use assets		—		—		40,958		5,781

		444,181		433,885		465,209		65,661

Depreciation and amortization expenses are included in the following captions:


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Cost of sales		307,102		312,769		315,445		44,523
Research and development expenses		48,291		26,751		16,470		2,325
Selling, general and administrative expenses		88,788		94,365		133,294		18,813

		444,181		433,885		465,209		65,661

(b)

Shipping and handling expenses

Sales related shipping and handling expenses not separately billed to customers are included in the following caption:


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Selling, general and administrative expenses		208,197		211,971		221,255		31,228

8.2	(a) Other operating income


	31.12.2017		31.12.2018			31.12.2019		31.12.2019
	RMB’000		RMB’000			RMB’000		US$’000
Interest income		105,421		147,244			177,261		25,019
Dividend income from quoted equity securities		2,532		1,992			959		135
Gain on disposal of:
- associate		199		—			—		—
- joint venture (i)		107,976		—			—		—
- property, plant and equipment		11,668		8,835			—		—
- quoted equity securities		—		—			11,528		1,627
- right-of-use assets		—		—			9,237		1,304
- subsidiaries (Note 4)		216,115		—			—		—
Government grants		34,337		32,237			122,371		17,272
Fair value gain on quoted equity securities		12,768		—			1,118		158
Fair value gain on foreign exchange forward contract		—		4,529			—		—
Write-back of trade and other payables		29		—			10		1
Realised foreign exchange gain, net		22,624		5,306			3,604		509
Unrealised foreign exchange gain, net		8,319		(4,235	)		4,679		660
Others		10,129		9,235			16,394		2,314

		532,117		205,143			347,161		48,999

Note:

(i)

On October 19, 2017, the Group completed the disposal of its joint venture investment in Copthorne Qingdao and recognized gain on disposal in the Group’s profit or loss for the year ended December 31, 2017.

8.2	(b) Other operating expenses


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Fair value loss on quoted equity securities		—		3,433		—		—
Fair value loss on foreign exchange forward contract		—		—		5,529		780
Loss on disposal of property, plant and equipment		—		—		645		91
Others		22,719		9,030		2,501		353

		22,719		12,463		8,675		1,224

8.3	Finance costs


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Bank term loans		53,888		71,513		76,721		10,828
Bills discounting		42,179		36,826		47,212		6,664
Bank charges		4,367		4,749		4,945		698
Interest on finance lease		5		—		—		—
Interest on lease liabilities (Note 19)		—		—		2,918		412

		100,439		113,088		131,796		18,602

8.4	Staff costs


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Wages and salaries		1,158,320		1,176,465		1,122,712		158,461
Contribution to defined contribution plans		258,190		296,073		324,623		45,818
Executive bonuses		59,908		57,674		59,791		8,439
Staff welfare		76,392		76,689		82,692		11,671
Staff severance cost		107,732		28,018		15,454		2,181
Cost of share-based payment		1,592		—		—		—
Others		1,870		8,441		6,012		849

		1,664,004		1,643,360		1,611,284		227,419

Staff costs are included in the following captions:


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Cost of sales		850,580		822,570		808,763		114,150
Research and development expenses		197,991		213,826		243,049		34,304
Selling, general and administrative expenses		615,433		606,964		559,472		78,965

		1,664,004		1,643,360		1,611,284		227,419

Income tax expense

12 Months Ended

Dec. 31, 2019

9.	Income tax expense

The major components of income tax expense for the years ended December 31, 2017, 2018 and 2019 are as follows:


	31.12.2017			31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			RMB’000			US$’000

Current income tax
- Current year		197,264			209,448			193,878			27,364
- Over provision in respect of prior years		(2,867	)		(729	)		(6,985	)		(986	)
Deferred tax
- Movement in temporary differences		(225	)		(2,052	)		(14,274	)		(2,014	)

Consolidated income tax expense reported in the statement of profit or loss		194,172			206,667			172,619			24,364

Income tax expense reported in the consolidated statement of profit or loss differs from the amount computed by applying the PRC income tax rate of 15% (being tax rate of Yuchai) for the years ended December 31, 2019, 2018 and 2017 for the following reasons:


	31.12.2017			31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			RMB’000			US$’000

Accounting profit before tax		1,514,028			1,181,067			1,033,319			145,844
Computed tax expense at 15% (2018: 15%, 2017: 15%)		227,104			177,160			154,998			21,877
Adjustments resulting from:
Non-deductible expenses		21,982			5,146			3,982			562
Tax-exempt income		(58,324	)		(3,634	)		(6,171	)		(871	)
Utilization of deferred tax benefits previously not recognized		(16,687	)		(5,518	)		(5,076	)		(716	)
Deferred tax benefits not recognized		8,084			2,183			6,613			933
Tax credits for research and development expense		(34,428	)		(22,407	)		(31,863	)		(4,497	)
Tax rate differential		21,061			24,437			26,223			3,701
Over provision in respect of previous years current tax		(2,867	)		(729	)		(6,985	)		(986	)
Withholding tax expense		29,447			30,029			30,898			4,361
Others		(1,200	)		—			—			—

Total		194,172			206,667			172,619			24,364

Deferred tax

Deferred tax relates to the following:


	Consolidated statement of financial position									Consolidated statement of profit or loss
	31.12.2018			31.12.2019			31.12.2019			31.12.2017			31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			US$’000			RMB’000			RMB’000			RMB’000			US$’000

Deferred tax liabilities
Accelerated tax depreciation		(27,554	)		(44,920	)		(6,340	)		(4,601	)		(12,432	)		(17,366	)		(2,451	)
Interest receivable		(2,252	)		(1,644	)		(232	)		679			(1,478	)		608			86
PRC withholding tax on dividend income (i)		(106,922	)		(106,922	)		(15,091	)		(29,031	)		(29,842	)		(30,721	)		(4,336	)

		(136,728	)		(153,486	)		(21,663	)		(32,953	)		(43,752	)		(47,479	)		(6,701	)

Deferred tax assets
Impairment of property, plant and equipment		15,943			6,648			938			9,443			3,624			(9,295	)		(1,312	)
Write-down of inventories		16,060			18,403			2,598			(3,716	)		(1,433	)		2,343			331
Allowance for doubtful account receivables		5,177			10,077			1,422			(1,964	)		(2,199	)		4,900			692
Accruals		204,554			250,662			35,379			18,778			(186	)		46,108			6,508
Deferred income		95,499			107,731			15,205			6,743			43,820			12,232			1,726
Others		23,974			29,439			4,155			3,894			2,178			5,465			770

		361,207			422,960			59,697			33,178			45,804			61,753			8,715

											225			2,052			14,274			2,014

Note:

(i)

The movement of PRC withholding tax on dividend income is as follows:


	31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			US$’000

At January 1		(100,572	)		(106,922	)		(15,091	)
Provision made to consolidated statement of profit or loss		(29,842	)		(30,721	)		(4,336	)
Utilization		23,492			30,721			4,336

December 31		(106,922	)		(106,922	)		(15,091	)

The Corporate Income Tax (“CIT”) law provides for a tax of 10% to be withheld from dividends paid to foreign investors of PRC enterprises. This withholding tax provision does not apply to dividends paid out of profit earned prior to January 1, 2008. Beginning on January 1, 2008, a 10% withholding tax is imposed on dividends paid to the Company, as a

non-resident

enterprise, unless an applicable tax treaty provides for a lower tax rate. The Company recognizes a deferred tax liability for withholding tax payable for profits accumulated after December 31, 2007 for the earnings that the Company does not plan to indefinitely reinvest in the PRC enterprises. As of December 31, 2019, the deferred tax liability for withholding tax payable was RMB 106.9 million (US$15.1 million) (2018: RMB 106.9 million). The amount of unrecognized deferred tax liability relating to undistributed earnings of the PRC enterprises is estimated to be RMB 253.5 million (US$35.8 million) (2018: RMB 249.2 million).

The following table represents the classification of the Group’s net deferred tax assets:


	31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			US$’000
Deferred tax assets		361,207			422,960			59,697
Deferred tax liabilities		(136,728	)		(153,486	)		(21,663	)

		224,479			269,474			38,034

Deferred tax assets have not been recognized in respect of the following items:


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000
Unutilized tax losses		396,232		414,226		55,925
Unutilized capital allowances and investment allowances		107,588		107,613		15,185
Other unrecognized temporary differences relating to asset impairment and deferred grants		222,868		215,296		31,456

		726,688		737,135		102,566

Unrecognized tax losses for the Group are subject to agreement with the tax authorities and compliance with tax regulations in the respective countries in which the Group operates. The unutilized tax losses for PRC subsidiaries and Malaysia subsidiaries expire within the next 5 years and 7 years, respectively. These losses may not be used to offset taxable income elsewhere in the Group. Deferred tax assets have not been recognized in respect of these items because it is not probable that future taxable profits will be available against which the Group can utilize the benefits.

Earnings per share

12 Months Ended

Dec. 31, 2019

Earnings per share

10.	Earnings per share

Basic earnings per share is calculated by dividing the profit for the year attributable to ordinary equity holders of the parent by the weighted average number of ordinary shares outstanding during the year.

Diluted earnings per share is calculated by dividing the profit attributable to ordinary equity holders of the parent by the weighted average number of ordinary shares outstanding during the year plus the weighted average number of ordinary shares that would be issued on conversion of all the dilutive potential ordinary shares into ordinary shares.

Basic earnings per share

The calculation of basic earnings per share is based on:


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Profit attributable to ordinary equity holders of the parent		888,809		695,266		604,914		85,378

Weighted average number of ordinary shares		40,764,569		40,858,290		40,858,290		40,858,290

Diluted earnings per share

The weighted average number of ordinary shares adjusted for the effect of unissued ordinary shares under the Share Option Scheme is determined as follows:


	31.12.2017		31.12.2018		31.12.2019
Weighted average number of shares issued, used in the calculation of basic earnings per share		40,764,569		40,858,290		40,858,290
Diluted effect of share options		—		—		—

Weighted average number of ordinary shares adjusted for effect of dilution		40,764,569		40,858,290		40,858,290

In 2019, 470,000 (2018: 470,000; 2017: 470,000) share options granted to employees under the existing employee share option plan have not been included in the calculation of diluted earnings per share because they are anti-dilutive.

Property, plant and equipment

12 Months Ended

Dec. 31, 2019

Property, plant and equipment

11.	Property, plant and equipment


	Freehold land RMB’000		Leasehold land, buildings and improvements RMB’000			Construction in progress RMB’000			Plant and machinery RMB’000			Office furniture, fittings and equipment RMB’000			Motor and transport vehicles RMB’000			Total RMB’000
Cost
At January 1, 2018		13,993		2,322,868			281,096			5,156,834			179,954			117,136			8,071,881
Additions		—		2,971			359,574			12,465			20,671			10,214			405,895
Disposals		—		(2,203	)		(2,258	)		(26,142	)		(4,510	)		(4,917	)		(40,030	)
Transfers		—		16,845			(167,900	)		151,055			—			—			—
Write-off		—		(185	)		(1,056	)		(55,709	)		(3,512	)		(4,843	)		(65,305	)
Translation difference		437		2,249			732			199			485			93			4,195

At December 31, 2018		14,430		2,342,545			470,188			5,238,702			193,088			117,683			8,376,636
Effects of adopting IFRS 16 (i)		—		—			—			—			(69	)		—			(69	)

At January 1, 2019		14,430		2,342,545			470,188			5,238,702			193,019			117,683			8,376,567
Additions		—		14,851			884,145			4,260			6,763			8,261			918,280
Disposals		—		(762	)		—			(15,468	)		(902	)		(12,035	)		(29,167	)
Transfers		—		45,412			(317,294	)		268,896			2,986			—			—
Write-off		—		(27,911	)		—			(211,589	)		(7,126	)		(1,442	)		(248,068	)
Translation difference		406		1,955			(4	)		221			414			34			3,026

At December 31, 2019		14,836		2,376,090			1,037,035			5,285,022			195,154			112,501			9,020,638


Accumulated depreciation and impairment
At January 1, 2018		484		691,450			1,055			3,358,712			121,526			74,636			4,247,863
Charge for the year		—		77,783			—			338,132			18,832			6,218			440,965	*
Disposals		—		(1,005	)		—			(26,471	)		(3,582	)		(4,555	)		(35,613	)
Write-off		—		(183	)		(1,055	)		(54,686	)		(3,512	)		(4,604	)		(64,040	)
Impairment loss		—		—			—			30,173			—			—			30,173
Translation difference		15		275			—			124			287			45			746

At December 31, 2018		499		768,320			—			3,645,984			133,551			71,740			4,620,094
Effects of adopting IFRS 16 (i)		—		—			—			—			(27	)		—			(27	)

At January 1, 2019		499		768,320			—			3,645,984			133,524			71,740			4,620,067
Charge for the year		—		105,818			—			311,402			25,324			10,675			453,219
Disposals		—		(284	)		—			(11,467	)		(547	)		(11,597	)		(23,895	)
Write-off		—		(25,376	)		—			(210,253	)		(6,883	)		(1,419	)		(243,931	)
Impairment loss		—		—			—			3,950			—			—			3,950
Translation difference		14		325			—			134			292			19			784

At December 31, 2019		513		848,803			—			3,739,750			151,710			69,418			4,810,194


Net book value
At December 31, 2018		13,931		1,574,225			470,188			1,592,718			59,537			45,943			3,756,542

At December 31, 2019		14,323		1,527,287			1,037,035			1,545,272			43,444			43,083			4,210,444

US$’000		2,021		215,563			146,368			218,102			6,132			6,081			594,267

In 2019, RMB 21.6 million (US$3.0 million) (2018: RMB 15.3 million) and RMB 8.8 million (US$1.2 million) (2018: RMB 5.4 million) were capitalized as intangible assets and capitalized contract cost, respectively.

An impairment loss of RMB 4.0 million (US$0.6 million) (2018: RMB 30.2 million; 2017: RMB 20.8 million) was charged to the consolidated statement of profit or loss under “Cost of sales” for the Group’s property, plant and equipment within the Yuchai segment. The impairment loss for 2017, 2018 and 2019 was due to assets that were not in use.

As of December 31, 2018 and 2019, there was no property, plant and equipment pledged to secure bank facilities.

Note:

(i)

Finance leases

The carrying amount of property, plant and equipment held under finance leases at December 31, 2018 was less than RMB 0.1 million. Upon the adoption of IFRS 16 on January 1, 2019, the Group has reclassified the carrying amount of this asset to

“Right-of-use

assets”.

Investment property

12 Months Ended

Dec. 31, 2019

Investment property

12.	Investment property


	31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			US$’000

Cost
At January 1		32,944			33,972			4,795
Translation difference		1,028			968			137

At December 31		33,972			34,940			4,932


Accumulated depreciation
At January 1		25,510			27,207			3,840
Charge for the year		884			380			54
Translation difference		813			801			113

At December 31		27,207			28,388			4,007


Net carrying amount		6,765			6,552			925

Fair value		10,886			11,419			1,612

Consolidated statements of profit or loss:
Rental income from an investment property		437			375			53
Direct operating expenses (including repairs, maintenance and depreciation expense) arising from the rental generating property		(314	)		(294	)		(41	)

The Group has no restrictions on the realizability of its investment property and no contractual obligations to purchase, construct or develop investment property or for repairs, maintenance or enhancement.

The fair value is determined by independent professional qualified valuer. The fair value of investment property is determined by the market comparison and cost methods. In valuing the investment property, due consideration is given to factors such as location and size of building, building infrastructure, market knowledge and historical comparable transactions to arrive at their opinion of value.

The following table shows information about fair value measurement of the investment property using significant unobservable inputs (Level 3):

Prepaid operating leases

12 Months Ended

Dec. 31, 2019

Prepaid operating leases

13.	Prepaid operating leases

Yuchai is granted land use rights of 15 to 50 years in respect of such land. Prepaid operating leases represent those amounts paid for land use rights to the PRC government.


	31.12.2018
	RMB’000

Current		12,546
Non-current		354,546

Total		367,092


	31.12.2018
	RMB’000

Cost
At January 1 and December 31		529,577


Accumulated amortization
At January 1		149,761
Charge for the year		12,724

At December 31		162,485


Net carrying amount		367,092

With adoption of IFRS 16 on January 1, 2019, the Group has reclassified the carrying amount of prepaid operating lease as at December 31, 2018 to

“Right-of-use

assets”. See Note 2.4 for further information about the change in accounting policy for leases.

Intangible assets

12 Months Ended

Dec. 31, 2019

Intangible assets

14.	Intangible assets


	Technology Know-how		Development costs			Goodwill		Trademarks		Total
	RMB’000		RMB’000			RMB’000		RMB’000		RMB’000

Cost
At January 1, 2018		—		136,822			218,311		—		355,133
Addition – internally generated		—		195,879			—		—		195,879
Reclassification		136,822		(136,822	)		—		—		—

At December 31, 2018 and January 1, 2019		136,822		195,879			218,311		—		551,012
Addition		—		366,708			—		169,811		536,519

At December 31, 2019		136,822		562,587			218,311		169,811		1,087,531


Accumulated amortization and impairment
At January 1, 2018		—		126,700			5,675		—		132,375
Reclassification		126,700		(126,700	)		—		—		—

At December 31, 2018 and January 1, 2019		126,700		—			5,675		—		132,375
Amortization		1,012		—			—		—		1,012

At December 31, 2019		127,712		—			5,675		—		133,387


Net carrying amount
At December 31, 2018		10,122		195,879			212,636		—		418,637

At December 31, 2019		9,110		562,587			212,636		169,811		954,144

US$’000		1,286		79,404			30,012		23,967		134,669

Goodwill

Goodwill represents the excess of purchase consideration over fair value of net assets of businesses acquired.

Goodwill acquired through business combinations have been allocated to two cash-generating units for impairment testing as follows:

•

Yuchai

•

Yulin Hotel. Goodwill allocated to Yulin Hotel was fully impaired in 2008.

Carrying amount of goodwill allocated to the cash-generating unit:


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000

Yuchai		212,636		212,636		30,012

Yuchai unit

The Group performs its impairment test annually. The recoverable amount of the unit was determined based on a value in use calculation using cash flow projections from financial budgets approved by senior management covering a ten-year period. The business of Yuchai is stable since the Group has control in 1994 and the business model of Yuchai is unlikely to change in the foreseeable future. The

pre-tax

discount rate applied to the cash flow projections was 13.32% (2018: 13.96%). No impairment was identified for this unit.

Key assumptions used in value in use calculations

The calculation of value in use for the cash-generating unit is most sensitive to the following assumptions:

•

Profit from operation

•

Discount rate

•

Growth rate used to extrapolate cash flows beyond the forecast period

Profit from operation – Profit from operation is based on management’s estimate with reference to historical performance and future business outlook of Yuchai unit.

Discount rate – Discount rate reflects management’s estimate of the risks specific to the cash-generating unit and is estimated based on weighted average cost of capital (“WACC”). The WACC takes into account both debt and equity. The cost of equity is derived from the expected return on investment by the Group’s investors. The cost of debt is based on the interest-bearing borrowings the cash-generating unit is obliged to service. This rate is weighted according to the optimal debt/equity structure arrived on the basis of the capitalization structure of the peer group.

Growth rate estimate – Growth rate is based on management’s estimate with reference to general available indication of long-term gross domestic product growth rate of China. The long-term rates used to extrapolate the budget for Yuchai are 5.7% and 6.3% for 2019 and 2018 respectively.

Sensitivity to changes in assumptions

The implications of the key assumptions for the recoverable amount are discussed below:

Profit from operation – A decreased demand can lead to a decline in profit from operation. A decrease in demand by 17.57% (2018: 1.00%) would result in impairment.

Discount rate – A rise in

pre-tax

discount rate to 14.79% (2018: 14.28%) in the Yuchai unit would result in impairment.

Growth rate assumptions – Management recognizes that the speed of technological change and the possibility of new entrants can have a significant impact on growth rate assumptions. A reduction to 2.40% (2018: 5.77%) in the long-term growth rate in Yuchai unit would result in impairment.

With regard to the assessment of value in use of the Yuchai unit, management believes that no reasonably possible change in any of the above key assumptions would cause the recoverable amount to materially fall below the carrying value of the unit.

Technology

know-how

held by Jining Yuchai

At December 31, 2017, the Group has an intangible asset representing technology development costs held by Jining Yuchai with carrying amount of RMB 10.1 million.

In 2018, the development for 4Y20 engine platform was completed and the technical development costs with carrying amount of RMB 10.1 million as at December 31, 2017 was reclassified as the Group’s technology

know-how.

In late 2018, the Group has commenced the production of 4Y20 engine. In 2019 the production volume has gradually ramped up to meet market demand. As such, management believe that there is no indicator for further impairment. In addition, this model of engines is in the process of penetrating the market, management is currently accessing the future market demand and concludes that there is no reversal of impairment to be recognized in 2019.

Development costs

During 2018 and 2019, the Group has capitalized development costs of RMB 195.9 million and RMB 366.7 million (US$51.8 million), respectively, for new engines that comply with National VI and Tier 4 emission standards. As of December 31, 2019, the total capitalized development costs is RMB 562.6 million (US$79.4 million). These development costs relate to

on-going

development efforts and, accordingly, have not yet been brought into use, and therefore no amortization charges were recorded. The National VI for

on-road

vehicles is expected to be implemented after

mid-2020,

and the Tier 4 emission standard for

off-road

vehicles is expected to be implemented within the next 2 years.

In 2018 and 2019, the Group performs an impairment test on the development costs that have not yet been brought into use. No impairment has been identified. The recoverable amount was determined based on its value in use using the discounted cash flow approach. Cash flows were projected based on historical growth, past experience and management best estimation of future business outlook. In 2018, the Group used a 11 years forecast which is based on the financial budgets approved by the senior management covering 8 years’ period from 2019 to 2026, and a further 3 years of forecast with no terminal value. In 2019, the Group used 10 years forecast which is based on the financial budgets approved by the senior management covering 6 years’ period from 2020 to 2025, and a further 4 years of forecast with no terminal value.

The calculation of value in use is most sensitive to the following assumptions:

•

Profit from operation – Profit from operation is based on management’s estimate with reference to historical revenue generated, growth rate and estimation of future business outlook. The revenue is estimated to grow significantly from 2020 to 2022 due to enforcement of implementation of new emission standard. From 2023 to 2025, the growth is estimated to slow down which is in the range of 10% to 15%. It is expected to remain constant at growth rate of 0% from 2026 to 2029 after the expected commercial deployment of technology. In 2018 the revenue growth rate was estimated to be 5% year on year.

•

pre-tax

discount rate of 13.32% (2018: 13.96%).

Sensitivity to changes in assumptions

The implications of the key assumptions for the recoverable amount are discussed below:

Profit from operation – A decreased demand can lead to a decline in profit from operation. A decrease in demand by 4.53% (2018: 3.30%) would result in impairment.

Discount rate – A rise in

pre-tax

discount rate to 14.13% (2018: 26.30%) would result in impairment.

With regard to the assessment of value in use, management believes that no reasonably possible change in any of the above key assumptions would cause the recoverable amount to materially fall below the carrying value.

Trademarks

In 2019, Yuchai entered into a trademark license agreement with GY Group under which Yuchai was granted the exclusive and perpetual use of the trademarks listed in the trademark license agreement for a one-time usage fee of RMB 169.8 million (US$24.0 million).

Management has assessed and concluded that the right granted by the trademark license, according to the terms and conditions of the trademark license agreement, is indefinite.

In 2019, the Group performed an annual impairment review by taking Yuchai as a cash-generating unit. Using the same cash flow projection and assumptions for goodwill impairment test disclosed above, management concluded that no impairment charge is to be recognized in 2019.

Inventories

12 Months Ended

Dec. 31, 2019

Inventories

15.	Inventories


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000
Raw materials		1,243,955		1,500,034		211,717
Work in progress		30,038		35,688		5,037
Finished goods		1,243,871		1,288,415		181,848

Total inventories at the lower of cost and net realizable value		2,517,864		2,824,137		398,602


	31.12.2017			31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			RMB’000			US$’000
Inventories recognized as an expense in cost of sales		11,021,960			11,471,988			13,167,181			1,858,433
Inclusive of the following charge/(credit):
- Inventories written down		17,492			25,194			31,810			4,490
- Reversal of write-down of inventories		(37,393	)		(33,662	)		(14,788	)		(2,087	)

The reversal of write-down of inventory was made when the related inventories were sold above their carrying value.

Other assets

12 Months Ended

Dec. 31, 2019

Other assets

16.	Other assets


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000
Current
Development properties (i)		20,267		17,721		2,501
Quoted equity securities (ii)		21,876		9,235		1,304
Derivative not designated as hedges – foreign exchange forward contract (iii)		4,529		—		—

		46,672		26,956		3,805

Note:

(i)

An impairment loss of RMB 3.0 million (US$0.4 million) on development properties (2018: RMB Nil) was charged to the consolidated statement of profit or loss under “Cost of sales”.

(ii)

The quoted equity securities are listed on the Singapore Exchange. In 2019, the Group has disposed some of the quoted equity securities for consideration of RMB 16.4 million (US$2.3 million) and gain on disposal of RMB 11.5 million (US$1.6 million) was recognized in consolidated statement of profit or loss under “other operating income”.

(iii)

On September 19, 2018, Yuchai entered into a

non-deliverable

forward foreign exchange contract (“NDF”) with China Construction Bank to purchase US$73.0 million at the forward exchange rate (RMB/US$) of 6.8599 on September 13, 2019. The Group accounted for this NDF at fair value through profit or loss.

Trade and other receivables

12 Months Ended

Dec. 31, 2019

Trade and other receivables

17.	Trade and other receivables


	31.12.2018 RMB’000			31.12.2019 RMB’000			31.12.2019 US$’000
Trade receivables, gross		438,586			794,678			112,161
Less: Allowance for expected credit losses		(30,586	)		(57,611	)		(8,131	)

Net trade receivables		408,000			737,067			104,030
Bills receivable (i)		6,981,106			7,005,234			988,728

Total (Note 7.2, Note 36)		7,389,106			7,742,301			1,092,758

Amounts receivable:
- associates and joint ventures (trade)		174			609			86
- associates and joint ventures (non-trade)		56,405			11,185			1,579
- related parties (trade)		32,702			73,243			10,338
- related parties (non-trade)		2,156			2,092			295
Staff advances		5,513			7,133			1,007
Interest receivables		8,220			12,224			1,725
Bills receivable in transit		8,850			8,700			1,228
Refundable deposits		3,029			2,131			301
Others		23,456			49,218			6,946
Less: Impairment losses – other receivables (ii )		—			(5,243	)		(740	)

Other receivables carried at amortized cost (Note 36)		140,505			161,292			22,765
Tax recoverable		140,316			223,652			31,566
Prepayments		115,360			63,048			8,899

Net other receivables		396,181			447,992			63,230

Total trade and other receivables		7,785,287			8,190,293			1,155,988

Note:

(i)

As of December 31, 2019, bills receivable include bills received from joint venture and related parties amounted to RMB Nil (US$ Nil) (2018: RMB 18.1 million) and RMB 1,050.7 million (US$148.3 million) (2018: RMB 17.0 million) respectively.

As of December 31, 2019, there was no bills receivable pledged to secure bank facilities. As of December 31, 2018, bills receivable of RMB 558.6 million were pledged to secure bank facilities.

(ii)

This comprised of impairment loss on bills receivable in transit of RMB 5.0 million (US$0.7 million) as of December 31, 2019 (2018: RMB Nil). This impairment loss was charged to the consolidated statement of profit or loss under “selling, general and administrative expenses”.

Trade receivables are

non-interest

bearing and are generally on 60 days’ term. They are recognized at their original invoice amounts which represent their fair values on initial recognition.

As of December 31, 2018, the

non-trade

receivable due from joint ventures comprised of a loan of RMB 50.0 million that was unsecured and bore interest at 4.35% per annum. The amount was fully repaid in 2019. Other than that,

non-trade

balance from associates, joint ventures and other related parties are unsecured, interest-free, and repayable on demand.

Movement in the allowance for expected credit losses of trade and other receivables is as follows:


	31.12.2018 RMB’000			31.12.2019 RMB’000			31.12.2019 US$’000

At January 1		43,775			30,586			4,316
(Credit)/debit to consolidated statement of profit or loss (under “selling, general and administrative expenses”)		(11,052	)		32,340			4,565
Written off		(2,137	)		(62	)		(9	)
Translation difference		—			(10	)		(1	)

At December 31 (Note 33)		30,586			62,854			8,871

As of December 31, 2018 and 2019, outstanding bills receivable discounted with banks for which the Group retained a recourse obligation totaled RMB 1,272.4 million and RMB 2,268.4 million (US$320.2 million) respectively. All bills receivable discounted have contractual maturities within 12 months at time of discounting.

As of December 31, 2018 and 2019, outstanding bills receivable endorsed to suppliers with recourse obligation were RMB 1,627.5 million and RMB 1,120.3 million (US$158.1 million) respectively.

As of December 31, 2018 and 2019, gross trade receivables due from a major customer group, Dongfeng Automobile Co., Ltd. and its affiliates (the “Dongfeng companies”) were RMB 54.1 million and RMB 136.4 million (US$19.2 million), respectively. See Note 33 for further discussion of customer concentration risk.

For terms and conditions relating to related parties, refer to Note 30.

Cash and cash equivalents

12 Months Ended

Dec. 31, 2019

Cash and cash equivalents

18.	Cash and cash equivalents

Long-term bank deposits

Short-term bank deposits

Restricted cash


	31.12.2018 RMB’000		31.12.2019 RMB’000		31.12.2019 US$’000
Non-current
Long-term bank deposits (i)		70,000		50,000		7,057

Current
Cash and cash equivalents		5,559,890		5,753,268		812,024
Long-term bank deposits (i)		70,000		70,000		9,880
Short-term bank deposits (ii)		356,926		286,543		40,443
Restricted cash		71,706		231,107		32,619

		6,058,522		6,340,918		894,966

Cash and bank balances		6,128,522		6,390,918		902,023

Note:

(i)

In 2019, YMMC has placed new

two-year

time deposits of RMB 50.0 million (US$7.1 million) (2018: RMB 70.0 million) at annual interest rate range from 3.99% to 4.13% (2018: 2.94% to 3.15%) with certain banks. These long-term deposits are not considered to be cash equivalents.

As at December 31, 2019, the

two-year

time deposits placed in 2018 has remaining maturity period of less than 12 months. Accordingly, this balance has been classified to current assets in 2019.

(ii)

Short-term bank deposits relate to bank deposits with initial maturities of more than three months and subject to more than insignificant risk of changes in value upon withdrawal before maturity. The interest rate of these bank deposits as of December 31, 2019 for the Group ranged from 1.78% to 3.65% (2018: 1.40% to 3.90%). These short-term bank deposits are not considered as cash equivalents.

Cash at banks earns interest at floating rates based on daily bank deposit rates. Short-term deposits are made for varying periods, depending on the immediate cash requirements of the Group, and earn interests at the respective short-term deposit rates. The interest rate of the bank deposits (excluding long-term and short-term bank deposits) as at December 31, 2019 for the Group ranged from 1.50% to 3.15% (2018: 1.30% to 3.28%).

As of December 31, 2019, the Group’s restricted cash of RMB 231.1 million (US$32.6 million) was used as collateral by the banks for the issuance of bills to suppliers. As at December 31, 2018, the Group’s restricted cash comprised of RMB 31.6 million which was used as collateral by the banks for the issuance of bills to suppliers and RMB 40.1 million related to retention money deposited in a joint signatory account with the buyer of LKNII for payment of tax payable for the disposal of LKNII, the tax was settled in 2019. The Group’s share of joint ventures’ restricted cash is disclosed in Note 6.

As of December 31, 2018 and 2019, the Group had RMB 492.8 million and RMB 295.0 million (US$41.6 million) respectively, of undrawn committed borrowing facilities in respect of which all conditions precedent had been met. The commitment fees incurred for 2017, 2018 and 2019 were RMB 0.2 million, RMB 0.2 million and RMB 0.2 million (less than US$0.1 million) respectively.

For the purpose of the statement of cash flows, cash and cash equivalents comprise the following at December 31:


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000

Cash at banks and on hand		5,110,520		5,205,605		734,726
Short-term bank deposits (i)		449,370		547,663		77,298

Cash and cash equivalents		5,559,890		5,753,268		812,024

Note:

(i)

This relates to other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

Leases

12 Months Ended

Dec. 31, 2019

leases

19.

Leases

Group as a lessee

The Group has lease contracts for land, motor vehicles, office space and staff accommodations used in its operations. These leases generally with lease term of between 1 and 6 years. The Group’s obligations under its leases are secured by the lessor’s title to the leased assets.

The Group also has certain leases of office space and staff accommodations with lease terms of 12 months or less. The Group has applied the “short-term leases” recognition exemptions for these leases

Set out below are the carrying amounts of

right-of-use

assets recognized and the movements during the year.


	Leasehold land RMB’000			Building and office space RMB’000			Office furniture, fittings and equipment RMB’000			Total RMB’000			Total US$’000

At January 1, 2019		—			—			—			—			—
Effect of adopting of IFRS 16 (i)		369,925			76,644			39			446,608			63,035

At January 1, 2019 (Restated)		369,925			76,644			39			446,608			63,035
Addition		—			11,473			—			11,473			1,619
Depreciation expenses		(14,347	)		(26,597	)		(14	)		(40,958	)		(5,781	)
Disposal		(1,771	)		—			—			(1,771	)		(250	)
Translation difference		—			36			(4	)		32			5

At December, 31, 2019		353,807			61,556			21			415,384			58,628

Note:

(i)

Upon the adoption of IFRS 16 on January 1, 2019, the Group has reclassified the carrying amount of prepaid operating lease and office furniture, fittings and equipment held under finance leases at December 31, 2018 to right-of-use assets.

Set out below are the carrying amounts of lease liabilities and the movements during the year:


	2019			2019
	RMB’000			US$’000

At January 1		—			—
Effect of adopting of IFRS 16 (Note 2.4)		96,852			13,670

At January 1 (Restated)		96,852			13,670
Additions		11,473			1,619
Accretion of interest (Note 8.3)		2,918			412
Payments		(51,283	)		(7,238	)
Translation difference		47			6

At December 31		60,007			8,469

Current (Note 27)		28,633			4,041
Non-current (Note 27)		31,374			4,428

Total		60,007			8,469

The maturity analysis of lease liabilities is disclosed in Note 27.

The following are the amounts recognized in profit of loss:


	2019 RMB’000		2019 US$’000

Depreciation charge for right-of-use assets		40,958		5,781
Interest expenses on lease liabilities (Note 8.3)		2,918		412
Expenses relating to short-term leases (included in selling, general and administrative costs and research and development cost)		14,341		2,024

Total amount recognized in profit or loss		58,217		8,217

The Group had total cash outflows for leases of RMB 65.6 million (US$9.3 million) in 2019. The Group also had non-cash additions to right-of-use assets and lease liabilities of RMB 11.5 million (US$1.6 million) in 2019. The future cash outflows relating to leases that have not yet commenced are disclosed in Note 31.

Group as a lessor

The Group has entered into operating leases on some of its assets, including surplus office and warehouse. Theses leases have terms between 1 to 12 years. Rental income recognized by the Group during the year is RMB 11.9 million (US$ 1.7 million) (2018: RMB 11.0 million).

Future minimum rental receivables under

non-cancellable

operating leases as at 31 December are as follows:


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000
Within 1 year
- related parties		1,248		1,787		252
- joint venture		2,308		2,691		380
- third parties		1,391		892		126
After 1 year but within 5 years
- related parties		1,030		660		93
- joint venture		9,087		10,526		1,486
- third parties		1,463		1,504		212
After than 5 years
- related parties		455		—		—
- joint venture		9,272		5,643		796
- third parties		—		889		125

		26,254		24,592		3,470

Issued capital

12 Months Ended

Dec. 31, 2019

Issued capital

20.	Issued capital

31.12.2018
thousands

31.12.2019
thousands

Issued capital

Authorized shares

Ordinary share of par value US$0.10 each

100,000

Number of

RMB’000

Ordinary shares issued and fully paid

At January 1, 2018, December 31, 2018 and December 31, 2019

40,858,290

2,081,138

US$’000

293,734

31.12.2018
RMB’000

31.12.2019
RMB’000

31.12.2019
US$’000

Special share issued and fully paid

One special share issued and fully paid at US$0.10 per share

Less than RMB 1 (US$1)

The holders of ordinary shares are entitled to such dividends as the Board of Directors of the Company may declare from time to time. All ordinary shares are entitled to one vote on a show of hands and carry one vote per share on a poll.

The holder of special share is entitled to elect a majority of directors of the Company. In addition, no shareholders’ resolution may be passed without the affirmative vote of the special share, including any resolution to amend the Memorandum of Association or

Bye-laws

of the Company. The special share is not transferable except to Hong Leong Asia Ltd. (“HLA”), Hong Leong (China) Limited (“HLC”) or any of its affiliates. The

Bye-Laws

of the Company provides that the special share shall cease to carry any rights in the event that HLA and its affiliates cease to own, directly or indirectly, at least 7,290,000 ordinary shares in the capital of the Company.

Dividends declared and paid

12 Months Ended

Dec. 31, 2019

Dividends declared and paid

21.	Dividends declared and paid


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000

Declared and paid during the year
Dividends on ordinary shares:
Final dividend paid in 2019: US$0.85 per share (2018: US$0.73 per share)		197,353		238,758		33,699
Special dividend paid in 2019: US$ Nil per share (2018: US$1.48 per share)		400,106		—		—

		597,459		238,758		33,699

Dividend paid in cash		597,459		238,758		33,699

Reserves

12 Months Ended

Dec. 31, 2019

Reserves

22.

Reserves


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000

Statutory reserve
Statutory general reserve (i)
At January 1		275,320		276,698		39,053
Transfer from retained earnings		1,378		1,903		269

At December 31		276,698		278,601		39,322


General surplus reserve (ii)
At January 1 and December 31		25,706		25,706		3,628

Total		302,404		304,307		42,950


Capital reserves (iii)
At January 1 and December 31		30,704		30,704		4,334

Note:

(i)

In accordance with the relevant regulations in the PRC, a 10% appropriation to the statutory general reserve based on the net income reported in the PRC financial statements is required until the balance reaches 50% of the authorized share capital of Yuchai and its subsidiaries. Statutory general reserve can be used to make good previous years’ losses, if any, and may be converted into share capital by the issue of new shares to shareholders in proportion to their existing shareholdings, or by increasing the par value of the shares currently held by them, provided that the reserve balance after such issue is not less than 25% of the authorized share capital.

(ii)

General surplus reserve is appropriated in accordance with Yuchai’s Articles and resolution of the board of directors. General surplus reserve may be used to offset accumulated losses or increase the registered capital.

(iii)

Capital reserves pertain to a capital transaction in 2015.


	31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			US$’000

Other components of equity
Foreign currency translation reserve (i)		(39,215	)		(36,091	)		(5,094	)
Performance shares reserve (ii)		19,758			19,758			2,789
Premium paid for acquisition of non-controlling interests		(11,541	)		(11,472	)		(1,619	)
Fair value reserve of financial assets at FVOCI (iii)		(79,948	)		(77,617	)		(10,955	)

Total		(110,946	)		(105,422	)		(14,879	)

Note:

(i)

Foreign currency translation reserve represents exchange differences arising from the translation of the financial statements of foreign operations whose functional currencies are different from that of the Group’s presentation currency.

(ii)

Performance shares reserve comprises the cumulative value of employee services received in return for share-based compensation. The amount in the reserve is retained when the option is expired.

(iii)

Fair value reserve of financial assets at FVOCI relates to the subsequent measurement of the Group’s bills receivable at fair value through OCI.

Share-based payment

12 Months Ended

Dec. 31, 2019

Share-based payment

23.	Share-based payment

The Company’s Equity Incentive Plan (“Equity Plan”) was approved by the shareholders at the Annual General Meeting of the Company held on July 4, 2014 for duration of 10 years (from July 29, 2014 to July 28, 2024).

All options granted under the Equity Plan are subject to a vesting schedule as follows:

(1)

one year after the date of grant for up to 33% of the shares over which the options are exercisable;

(2)

two years after the date of grant for up to 66% (including (1) above) of the shares over which the options are exercisable; and

(3)

three years after the date of grant for up to 100% (including (1) and (2) above) of the shares over which the options are exercisable.

The expense recognized for employee services received during the year is shown in the following table:


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000

Expense arising from equity-settled share-based payment transactions		1,592		—		—		—

Total expense arising from share-based payment transactions		1,592		—		—		—

Movements during the year

The following table illustrates the number and weighted average exercise prices (“WAEP”) of, and movements in share options during the year:


	Number of share options		WAEP		Number of share options		WAEP
	31.12.2018		31.12.2018		31.12.2019		31.12.2019

Outstanding at January 1 and December 31		470,000	US$	21.11		470,000	US$	21.11

Exercisable at December 31		470,000	US$	21.11		470,000	US$	21.11

The fair value of services received in return for share options granted are measured by reference to the fair value of share options granted. The estimate of the fair value of the services received is measured based on the Black-Scholes model. The expected life used in the model has been adjusted, based on management’s best estimate, for the effects of

non-transferability,

exercise restrictions and behavioral considerations.

Fair value of share options and assumptions


Date of grant of options		On July 29, 2014

Fair value at measurement date (US$)		5.70 – 6.74

Share price (US$)		21.11
Exercise price (US$)		21.11
Expected volatility (%)		47.4
Expected option life (years)		3.5 – 5.5
Expected dividends (%)		5.81
Risk-free interest rate (%)		1.4 – 2.0

The exercise price for options outstanding as at December 31, 2019 was US$21.11 dollar (2018: US$21.11 dollar).

The weighted average remaining contractual life for the share options outstanding as at December 31, 2019 was 4.6 (2018: 5.6) years.

The expected volatility reflects the assumption that the historical volatility over a period similar to the life of the options is indicative of future trends, which may not necessarily be the actual outcome.

There are no market conditions associated with the share options granted. Service conditions and

non-market

performance conditions are not taken into account in the measurement of the fair value of the service to be received at the grant date.

Trade and other payables

12 Months Ended

Dec. 31, 2019

Trade and other payables

24.	Trade and other payables


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000

Current
Trade payables		2,495,482		2,953,479		416,858
Bills payables (i)		2,065,147		2,764,013		390,116
Other payables		329,632		54 3 ,9 7 0		76, 777
Accrued expenses		168,235		203,133		28,671
Accrued staff costs		666,641		653,854		92,286
Refund liabilities		761,521		757,655		106,936
Dividend payable		43,133		47,480		6,701
Amount due to:
- associates and joint ventures (trade)		262,131		258,964		36,551
- associates and joint ventures (non-trade)		66		81		11
- related parties (trade)		145,747		22 1 ,4 1 3		31, 250
- related parties (non-trade)		32,034		4,016		567

Financial liabilities carried at amortized cost (Note 36)		6,969,769		8,408,058		1,186,724
Other tax payable		38,823		39,698		5,603

Trade and other payables with liquidity risk (Note 33)		7,008,592		8,447,756		1,192,327
Deferred grants (Note 29)		22,082		19,952		2,816
Advance from customers		369		383		55

Total trade and other payables (current)		7,031,043		8,468,091		1,195,198

(i)

As of December 31, 2019, the bills payables include bills payable to joint ventures, associates and other related parties amounted to RMB 125.0 million (US$17.6 million) (2018: RMB 131.8 million), RMB 10.1 million (US$1.4 million) (2018: RMB 4.2 million) and RMB 232.6 million (US$32.8 million) (2018: RMB 62.8 million) respectively.


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000

Non-current
Other payables (i) (Note 33, Note 36)		160,091		176,302		24,883

(i)

This relates to accrual for bonus that is not expected to be settled within next 12 months.

Terms and conditions of the above financial liabilities:

•

Trade payables are

non-interest

bearing and are normally settled on

60-day

terms.

•

Other payables (current) are

non-interest

bearing and have an average term of three months.

•

For terms and conditions relating to related parties, refer to Note 30.

Provision

12 Months Ended

Dec. 31, 2019

Provision

25.

Provision


	Provision for warranty			Provision for onerous contract		Total			Total
	RMB’000			RMB’000		RMB’000			US$’000
At January 1, 2018		191,814			—		191,814			27,072
Provision made		224,582			—		224,582			31,698
Provision utilized		(249,483	)		—		(249,483	)		(35,212	)

At December 31, 2018 and January 1, 2019		166,913			—		166,913			23,558
Provision made		421,905			2,316		424,221			59,875
Provision utilized		(373,103	)		—		(373,103	)		(52,660	)

At December 31, 2019		215,715			2,316		218,031			30,773

Contract liabilities

12 Months Ended

Dec. 31, 2019

Contract liabilities

26.	Contract liabilities


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000

Unfulfilled maintenance services		191,728		181,139		25,566
Advance from customer		148,761		255,483		36,060

Total		340,489		436,622		61,626

Current		286,786		382,809		54,030
Non-current		53,703		53,813		7,596

Total contract liabilities (Note 7.2)		340,489		436,622		61,626

Lease liabilities

12 Months Ended

Dec. 31, 2019

Lease liabilities [abstract]

Lease liabilities

27.	Lease liabilities


	Effective interest rate		Maturity		31.12.2019		31.12.2019
	%				RMB’000		US$’000
Current (Note 19)		1.25% - 6.20%		2020		28,633		4,041

Non- current (Note 19)		1.25% - 6.20%		2021-2024		31,374		4,428

Other financial liabilities

12 Months Ended

Dec. 31, 2019

Other financial liabilities

28.	Other financial liabilities

(a)

Other liabilities


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000
Derivative not designated as hedges – foreign exchange forward contract		—		999		141
Finance lease liabilities		48		—		—

		48		999		141


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000
Current		14		999		141
Non-current		34		—		—

		48		999		141

Foreign exchange forward contract

On December 11, 2019, Yuchai entered into a non-deliverable forward foreign exchange contract (“NDF”) with China Construction Bank to purchase US$20.0 million at the forward exchange rate (RMB/US$) of 7.0901 on December 8, 2020. The Group accounted for this NDF at fair value through profit or loss.

inance lease liabilities

As at December 31, 2018, the group leased office equipment under finance leases expiring within three years. The lease was recorded as finance lease liabilities under “Other liabilities” until December 31, 2018, and was reclassified to “Lease liabilities” on January 1, 2019 upon adoption of IFRS 16. See Note 2.4 for further information about the change in accounting policy for leases.

Future minimum lease payments under finance lease together with the present value of the net minimum lease payments are as follows:


	31.12.2018
	Minimum lease payments		Present value of payments
	RMB’000		RMB’00

Not later than one year		14		14
Later than one year but not later than five years		34		34

Total minimum lease payments		48		48
Less: Amount representing finance charges		*		*

Present value of minimum lease payments		48		48

Less than RMB 1 thousand (US$1 thousand)

(b)

Loans and borrowings


	Effective interest rate		Maturity		31.12.2018
	%				RMB’000

Current
Renminbi denominated loans		4.26		2019		1,500,000
US dollar denominated loans (ii)		3.48		2019		501,014

						2,001,014


Non-current
Singapore Dollar denominated loans (iii)		2.84		2020		15,078


	Effective interest rate		Maturity		31.12.2019		31.12.2019
	%				RMB’000		US$’000

Current
Renminbi denominated loans		3.70 – 4.13		2020		1,900,000		268,168
US dollar denominated loans		2.52		2020		139,524		19,693
Singapore Dollar denominated loans (iii)		2.84		2020		15,522		2,191

						2,055,046		290,052

Note:

(i)

All loans balances as stated above do not have a callable feature.

(ii)

The loan was secured by the Group’s bills receivable of RMB 524.1 million and repaid in September 2019.

(iii)

The loans comprise:


Issuer bank	Facility limit		Usage
			RMB’000

December 31, 2018
MUFG Bank Ltd		S$ 30 million		15,078

December 31, 2019
MUFG Bank Ltd		S$ 30 million		15,522

		US$’000		2,191

S$30.0 million credit facility with DBS Bank Ltd (“DBS”)

On June 1, 2018, the Company entered into a three-year revolving uncommitted credit facility agreement with DBS with an aggregate value of S$30.0 million to refinance the S$30.0 million facility that matured on May 22, 2018. Among other things, the terms of the facility required that (i) HLA retains ownership of the special share, at

all-time

retains at least 35% ownership of the Company and that the Company remain a consolidated subsidiary of HLA, (ii) the Company at

all-time

retains at least 76.4% ownership in Yuchai and (iii) HLGE remains listed on the Main Board of Singapore Exchange. The terms of the facility also included certain financial covenants with respect to the Company’s consolidated tangible net worth (as defined in the agreement) not being less than US$350 million, and the ratio of the consolidated total net debt (as defined in the agreement) to consolidated tangible net worth not exceeding 1.0 times. This arrangement was used to finance the Group general working capital requirements.

S$30.0 million credit facility with MUFG Bank Ltd, Singapore Branch (formally known as Bank of Tokyo Mitsubishi UFJ, Ltd., Singapore Branch) (“MUFG”)

On March 30, 2017, the Company entered into an unsecured multi-currency revolving credit facility agreement with MUFG for a committed aggregate value of S$30.0 million to refinance the S$30.0 million facility that matured on March 18, 2017. The facility is available for three years from the date of the facility agreement and will be used to finance the Company’s long-term general working capital requirements. Among other things, the terms of the facility require that HLA retains ownership of the Company’s special share and that the Company remains a consolidated subsidiary of HLA. The terms of the facility also include certain financial covenants with respect to the Company’s tangible net worth (as defined in the agreement) as at June 30 and December 31 of each year not being less than US$120 million and the ratio of the Company’s total net debt (as defined in the agreement) to tangible net worth as at June 30 and December 31 of each year not exceeding 2.0 times, as well as negative pledge provisions and customary drawdown requirements. The Company is in the process of renewing this facility with the bank.

US$30.0 million credit facility with Sumitomo Mitsui Banking Corporation, Singapore Branch (“SMBC”)

On March 31, 2017, the Company entered into an uncommitted and unsecured multi-currency revolving credit facility agreement with SMBC for an aggregate value of US$30.0 million to refinance the US$30.0 million facility that matured on March 18, 2017. The facility is available for three years from the date of the facility agreement and will be utilized by the Company to finance its long-term general working capital requirements. The terms of the facility require, among other things, that HLA retains ownership of the special share and that the Company remains a principal subsidiary (as defined in the facility agreement) of HLA. The terms of the facility also include certain financial covenants with respect to the Company’s consolidated tangible net worth (as defined in the agreement) as at June 30 and December 31 of each year not less than US$200 million and the ratio of the Company’s consolidated total net debt (as defined in the agreement) to consolidated tangible net worth as at June 30 and December 31 of each year not exceeding 2.0 times, as well as negative pledge provisions and customary drawdown requirements. The Company is in the process of renewing this facility with the bank.

Deferred grants

12 Months Ended

Dec. 31, 2019

Deferred grants

29.	Deferred grants


	31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			US$’000

At January 1		353,647			607,608			85,758
Received during the year		282,388			187,096			26,407
Released to consolidated statement of profit or loss		(28,427	)		(117,976	)		(16,651	)

At December 31		607,608			676,728			95,514


Current (Note 24)		22,082			19,952			2,816
Non-current		585,526			656,776			92,698

		607,608			676,728			95,514

The government grant that have been received was to support and fund Yuchai’s production facilities, research and development activities for new engines.

Related party disclosures

12 Months Ended

Dec. 31, 2019

Related party disclosures

30.	Related party disclosures

The ultimate parent

As of December 31, 2019, the controlling shareholder of the Company, HLA, indirectly owned 17,059,154, or 41.8% (2018: 17,059,154, or 41.8%), of the ordinary shares in the capital of the Company, as well as a special share that entitles it to elect a majority of directors of the Company. HLA controls the Company through its wholly-owned subsidiary, HLC, and through HLT, a wholly-owned subsidiary of HLC. HLT owns approximately 23.3% (2018: 23.3%) of the ordinary shares in the capital of the Company and is, and has since August 2002 been, the registered holder of the special share. HLA also owns, through another wholly-owned subsidiary, Well Summit Investments Limited, approximately 18.5% (2018: 18.5%) of the ordinary shares in the capital of the Company. HLA is a member of the Hong Leong Investment Holdings Pte. Ltd., or Hong Leong Investment group of companies. Prior to August 2002, the Company was controlled by Diesel Machinery (BVI) Limited, which, until its dissolution, was a holding company controlled by HLC and was the prior owner of the special share. Through HLT’s stock ownership and the rights accorded to the special share under

Bye-Laws

of the Company and various agreements among shareholders, HLA is able to effectively approve and effect most corporate transactions.

There were transactions other than dividends paid, between the Group and HLA of RMB 0.03 million (less than US$0.01 million) during the financial years ended December 31, 2017, 2018 and 2019 respectively. The transaction relates to consultancy fees charged by HLA.

Entity with significant influence over the Group

As of December 31, 2019, the Yulin City Government through Coomber Investment Ltd. owned 17.2% (2018: 17.2%) of the ordinary shares in the capital of the Company.

The following provides the significant transactions that have been entered into with related parties for the relevant financial year.


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000

Sales of engines and materials
- associates and joint ventures		412,591		439,106		912,877		128,845
- GY Group (including its subsidiaries and affiliates)		455,061		406,422		1 , 792 , 280		2 52 , 965
Purchase of material, supplies and engines
- associates and joint ventures		914,211		1,192,322		1,999,831		282,259
- GY Group (including its subsidiaries and affiliates)		1,221,421		1,589,638		1,895,239		267,496
Purchase of service
- a joint venture		2,543		—		—		—
Hospitality, restaurant, consultancy and other service income charged to
- a joint venture		14,241		3,456		3,984		562
- GY Group (including its subsidiaries and affiliates)		25,728		24,015		15,350		2,167
Rental income
- GY Group (including its subsidiaries and affiliates)		4,483		3,886		2,133		301
- a joint venture		—		1,937		3,206		452
Property management service expenses
- GY Group (including its subsidiaries and affiliates)		22,212		26,547		22,595		3,189
Leasing expenses (i)
- GY Group (including its subsidiaries and affiliates)		8,676		25,705		—		—
General and administrative expenses
- GY Group (including its subsidiaries and affiliates)		20,215		21,607		19,953		2,816
- HLA (including its affiliates)		6,913		6,639		6,788		958
Delivery, storage, distribution and handling expenses
- GY Group (including its subsidiaries and affiliates)		210,406		228,195		304,532		42,982
Payment for trademark s usage fee
- GY Group		—		—		169,811		23,967
Payment for lease liabilities
- GY Group (including its subsidiaries and affiliates)		—		—		33,594		4,741
Purchases of vehicles and machineries
- GY Group (including its subsidiaries and affiliates)		52,443		6,144		2,817		398
Purchases of additional shareholding in a subsidiary from
- GY Group (including its subsidiaries and affiliates) (ii)		1,335		—		—		—
Disposal of shareholding in an associate to
- GY Group (including its subsidiaries and affiliates) (iii)		1,833		—		—		—

Note:

(i)

As disclosed in Note 2.4, the Group has adopted IFRS 16 on January 1, 2019. These leasing expenses have been recognized as right-of-use assets and lease liabilities on the consolidated statement of financial position as at December 31, 2019.

(ii)

In June 2017, GYAMC acquired 25% of equity interest in Crankshaft from GY Group with a purchase consideration of RMB 1.3 million.

(iii)

In August 2017, YEMC disposed its 30% equity interest in Property Management to GY Group for a consideration of RMB 1.9 million.

In addition to the above, Yuchai also entered into transactions with other PRC Government owned enterprises. Management considers that these transactions were entered into in the normal course of business and expects that these transactions will continue on normal commercial terms. Balances with other PRC entities are excluded from this caption.

The transactions with related parties are made at terms agreed between the parties.

Compensation of key management personnel of the Group


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Short-term employee benefits		40,831		39,703		41,606		5,872
Contribution to defined contribution plans		385		335		362		51
Cost of share-based payment		1,294		—		—		—

		42,510		40,038		41,968		5,923

The

non-executive

directors do not receive pension entitlements from the Group.

Commitments and contingencies

12 Months Ended

Dec. 31, 2019

Commitments and contingencies

31.	Commitments and contingencies

Operating lease commitments - Group as lessee

The Group has various lease contracts that have not yet commenced as at December 31, 2019. The future lease payments these

non-cancellable

lease contracts are as follows:


	31.12.2019		31.12.2019
	RMB’000		US$’000
Within 1 year		105		15
After 1 year but within 5 years		85		12
After 5 years		—		—

		190		27

Capital commitments

As of December 31, 2018 and 2019, Yuchai had capital expenditure (mainly in respect of property, plant and equipment) contracted for but not paid and not recognized amounting to RMB 774.5 million and RMB 594.0 million (US$83.8 million) respectively. The Group’s share of joint venture’s capital commitment is disclosed in Note 6.

Investment commitments

As of December 31, 2018 and 2019, the Group has commitment of RMB 58.8 and RMB 17.6 million (US$2.5 million) relating to the Group’s interest in joint venture, respectively.

Letter of credits

As of December 31, 2018 and 2019, Yuchai had issued irrevocable letter of credits of RMB 93.5 million and RMB 30.8 million (US$4.4 million), respectively.

Product liability

The General Principles of the Civil Law of the People’s Republic of China imposes that manufacturers and sellers are liable for loss and injury caused by defective products. Yuchai and its subsidiaries do not carry product liability insurance. Yuchai and its subsidiaries have not had any significant product liability claims brought against them.

Environmental liability

China adopted its Environmental Protection Law in 1989, and the State Council and the Ministry of Ecology and Environment (formerly known as the Ministry of Environmental Protection) promulgate regulations as required from time to time. The Environmental Protection Law addresses issues relating to environmental quality, waste disposal and emissions, including air, water and noise emissions. Environmental regulations have not had a material impact on Yuchai’s results of operations. Yuchai delivers, on a regular basis, burned sand and certain other waste products to a waste disposal site approved by the local government and makes payments in respect thereof. Yuchai expects that environmental standards and their enforcement in China will, as in many other countries, become more stringent over time, especially as technical advances make achievement of higher standards more feasible. Yuchai has built an air filter system to reduce the level of dust and fumes resulting from its production of diesel engines.

Yuchai is subject to Chinese national and local environmental protection regulations which currently impose fees for the discharge of waste substances, require the payment of fines for pollution, and provide for the closure by the Chinese government of any facility that fails to comply with orders requiring Yuchai to cease or improve upon certain activities causing environmental damage. Due to the nature of its business, Yuchai produces certain amounts of waste water, gas, and solid waste materials during the course of its production. Yuchai believes its environmental protection facilities and systems are adequate for it to comply with the existing national, provincial and local environmental protection regulations. However, Chinese national, provincial or local authorities may impose additional or more stringent regulations which would require additional expenditure on environmental matters or changes in Yuchai’s processes or systems.

Segment information

12 Months Ended

Dec. 31, 2019

Segment information

32.	Segment information

For management purposes, the Group is organized into business units based on their products and services, and has two reportable operating segments as follows:

•

Yuchai primarily conducts manufacturing and sale of diesel engines which are mainly distributed in the PRC market.

•

HLGE is engaged in hospitality and property development activities conducted mainly in the PRC and Malaysia. HLGE is listed on the Main Board of the Singapore Exchange.

Management monitors the operating results of its business units separately for the purpose of making decisions about resource allocation and performance assessment.


Year ended December 31, 2017	Yuchai			HLGE			Corporate			Eliminations/ adjustment			Consolidated financial statements
	RMB’000			RMB’000			RMB’000			RMB’000			RMB’000

Revenue
Total external revenue (Note 7.1)		16,140,622			57,197			—			—			16,197,819


Results
Interest income		94,760			1,803			11,833			(2,975	)		105,421
Interest expense		(94,794	)		(3,983	)		(270	)		2,975			(96,072	)
Gain on disposal of subsidiaries		—			216,115			—			—			216,115
Gain on disposal of joint venture		—			107,976			—			—			107,976
Impairment of property, plant and equipment		(20,845	)		—			—			—			(20,845	)
Impairment of technology development cost		(40,000	)		—			—			—			(40,000	)
Staff severance cost		(107,732	)		—			—			—			(107,732	)
Depreciation and amortization		(433,921	)		(9,990	)		(270	)		—			(444,181	)
Share of profit of associates and joint venture		9,255			799			—			—			10,054
Income tax expense		(164,578	)		(461	)		(102	)		(29,031	) (1)		(194,172	)

Segment profit after tax		1,004,019			322,160			22,708			(29,031	) (1)		1,319,856


Year ended December 31, 2018	Yuchai			HLGE			Corporate			Eliminations/ adjustment			Consolidated financial statements
	RMB’000			RMB’000			RMB’000			RMB’000			RMB’000

Revenue
Total external revenue (Note 7.1)		16,210,467			52,781			—			—			16,263,248


Results
Interest income		124,653			4,244			18,347			—			147,244
Interest expense		(107,609	)		(403	)		(327	)		—			(108,339	)
Impairment of property, plant and equipment		(30,173	)		—			—			—			(30,173	)
Staff severance cost		(28,018	)		—			—			—			(28,018	)
Depreciation and amortization		(428,199	)		(5,355	)		(331	)		—			(433,885	)
Share of profit of associates and joint venture		10,809			825			—			—			11,634
Income tax expense		(175,956	)		(820	)		(49	)		(29,842	) (1)		(206,667	)

Segment profit after tax		1,019,776			4,156			(19,690	)		(29,842	) (1)		974,400

Total assets		20,636,155			441,040			2,081,220			(1,500,451	)		21,657,964

Total liabilities		(10,318,492	)		(55,404	)		(29,592	)		(106,922	) (2)		(10,510,410	)

Other disclosures
Investment in joint ventures		220,176			2,636			—			—			222,812
Capital expenditure		403,179			2,643			73			—			405,895


Year ended December 31, 2019	Yuchai			HLGE			Corporate			Eliminations/ adjustment			Consolidated financial statements			Consolidated financial statements
	RMB’000			RMB’000			RMB’000			RMB’000			RMB’000			US$’000

Revenue
Total external revenue (Note 7.1)		17,980,304			35,781			—			—			18,016,085			2,542,813


Results
Interest income		158,855			5,167			13,239			—			177,261			25,019
Interest expense		(126,379	)		(51	)		(421	)		—			(126,851	)		(17,904	)
Impairment of property, plant and equipment		(3,950	)		—			—			—			(3,950	)		(558	)
Staff severance cost		(15,454	)		—			—			—			(15,454	)		(2,181	)
Depreciation and amortization		(458,665	)		(5,551	)		(993	)		—			(465,209	)		(65,661	)
Share of profit of associates and joint venture		18,137			897			—			—			19,034			2,686
Income tax expense		(141,330	)		(527	)		(41	)		(30,721	) (1)		(172,619	)		(24,364	)

Segment profit after tax		884,562			4,457			1,939			(30,258	) (1)		860,700			121,480

Total assets		22,817,479			416,397			2,120,767			(1,500,452	)		23,854,191			3,366,811

Total liabilities		(12,127,021	)		(15,575	)		(31,278	)		(106,932	) (2)		(12,280,806	)		(1,733,329	)

Other disclosures
Investment in joint ventures		271,274			2,717			—			—			273,991			38,671
Capital expenditure		917,192			1,033			55			—			918,280			129,607

Note:

(1)

This relates mainly to the deferred tax expense relating to withholding tax on dividends from Yuchai.

(2)

This relates mainly to the deferred tax liabilities relating to cumulative withholding tax on dividends that are expected to be declared from income earned after December 31, 2007 by Yuchai.

Geographic information

The geographic information for revenue from external customers is disclosed in Note 7.1.

Revenue from one customer group amounted to RMB 5,205.5 million (US$734.7 million) (2018: RMB 4,463.9 million; 2017: RMB 4,839.6 million), arising from sales by Yuchai segment.

Non-current

assets


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000

People’s Republic of China		4,665,990		5,764,591		813,622
Other countries		95,443		97,879		13,815

		4,761,433		5,862,470		827,437

Non-current

assets for this purpose consist of property, plant and equipment, right-of-use assets, investment in joint ventures and associates, investment property, intangible assets and goodwill.

Financial risk management objectives and policies

12 Months Ended

Dec. 31, 2019

Financial risk management objectives and policies

33.	Financial risk management objectives and policies

The Group’s principal financial liabilities comprise loans and borrowings, trade and other payables. The main purpose of these financial liabilities is to finance the Group’s operations. The Group has trade and other receivables, and cash and bank deposits that derive directly from its operations. The Group also holds quoted equity securities and enters into derivative transactions.

The Group is exposed to market risk, credit risk and liquidity risk. The Group’s senior management oversees the management of these risks. There has been no change to the Group’s exposure to these financial risks or the manner in which it manages and measures the risks.

Market risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprise three types of risk: interest rate risk, currency risk and other price risk, such as equity price risk. Financial instruments affected by market risk include loans and borrowings, deposits, quoted equity securities and derivative financial instrument.

The sensitivity analyses in the following sections relate to the position as at December 31, 2018 and 2019.

The sensitivity analyses have been prepared on the basis that the amount of net debt, the ratio of fixed to floating interest rates of the debt and the proportion of financial instruments in foreign currencies are all constant at December 31, 2019.

The analyses exclude the impact of movements in market variables on provisions and on the

non-financial

assets and liabilities of foreign operations.

Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Group’s exposure to the risk of changes in market interest rates relates primarily to the Group’s interest-bearing bank deposits and loans and borrowings from banks and financial institutions. The interest-bearing loans and borrowings of the Group are disclosed in Note 28(b). As certain interest rates are based on interbank offer rates, the Group is exposed to cash flow interest rate risk. This risk is not hedged. Interest-bearing bank deposits are short to medium-term in nature but given the significant cash and bank balances held by the Group, any variation in the interest rates may have a material impact on the results of the Group.

The Group manages its interest rate risk by having a mixture of fixed and variable rates for its deposits and borrowings.

Interest rate sensitivity

The sensitivity analyses below have been determined based on the exposure to interest rates for bank deposits and interest-bearing financial liabilities at the end of the reporting period and the stipulated change taking place at the beginning of the year and held constant throughout the reporting period in the case of instruments that have floating rates. A 50 basis points increase or decrease is used and represents management’s assessment of the possible change in interest rates.

If interest rate had been 50 (2018: 50) basis points higher or lower and all other variables were held constant, the profit before tax for the year ended December 31, 2019 of the Group would increase/decrease by RMB 21.4 million (US$3.0 million) (2018: increase/decrease by RMB 20.6 million).

Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Group’s exposure to the risk of changes in foreign exchange rates relates primarily to the Group’s sales, purchases and financial liabilities that are denominated in currencies other than the respective functional currencies of entities within the Group. The Group also holds cash and bank balances and other investments denominated in foreign currencies. The currencies giving rise to this risk are primarily the Singapore Dollar, Renminbi, US Dollar and Euro.

Foreign currency translation exposure is managed by incurring debt in the operating currency so that where possible operating cash flows can be primarily used to repay obligations in the local currency. This also has the effect of minimizing the exchange differences recorded against income, as the exchange differences on the net investment are recorded directly against equity.

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


	31.12.2018
	Singapore Dollar			Euro			US Dollar			Renminbi			Others
	RMB’000			RMB’000			RMB’000			RMB’000			RMB’000

Quoted equity securities		21,876			—			—			—			—
Trade and other receivables		693			25,827			12,149			675			—
Cash and bank balances		220,268			1,166			28,518			31,662			25
Financial liabilities		(15,126	)		—			(501,014	)		—			—
Trade and other payables		(13,952	)		(17,452	)		(7,060	)		(41,828	)		—

Net assets/(liabilities)		213,759			9,541			(467,407	)		(9,491	)		25


	31.12.2019
	Singapore Dollar			Euro			US Dollar			Renminbi			Others
	RMB’000			RMB’000			RMB’000			RMB’000			RMB’000

Quoted equity securities		9,235			—			—			—			—
Trade and other receivables		607			414			7,624			658			—
Cash and bank balances		228,589			52			11,233			2,595			7,364
Financial liabilities		(15,710	)		—			(139,524	)		—			—
Trade and other payables		(7,086	)		(27,922	)		(10,596	)		(2,605	)		(83	)

Net assets/(liabilities)		215,635			(27,456	)		(131,263	)		648			7,281

US$’000		30,435			(3,875	)		(18,527	)		91			1,028

Foreign currency risk sensitivity

A 10% strengthening of the following major currencies against the functional currency of each of the Group’s entities at the reporting date would increase/(decrease) profit before tax by the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remain constant.


	Profit before tax
	31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			US$’000

Singapore Dollar		21,376			21,564			3,044
Euro		954			(2,746	)		(388	)
US Dollar		(46,741	)		(13,126	)		(1,853	)
Renminbi		(949	)		65			9

Equity price risk

The Group has investment in Thakral Corporation Ltd “TCL” which is quoted equity securities.

Equity price risk sensitivity

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


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000
Statement of profit or loss		2,188		924		130

Credit risk

Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Group is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including deposits with banks and financial institutions, foreign exchange transactions and other financial instruments.

Trade receivables

Customer credit risk is managed by each business unit subject to the Group’s established policy, procedures and control relating to customer credit risk management. Credit limits are established for all customers based on internal rating criteria.

Management has a credit policy in place and the exposure to credit risk is monitored on an ongoing basis. Credit evaluations are performed for all customers requiring credit over a certain amount.

An impairment analysis is performed at each reporting date using a provision matrix. The provision rates are determined based on days past due for groupings of various customer segments with similar loss patterns (i.e. by profiles of the customers). The calculation reflects the reasonable and supportable information that is available at the reporting date about past events, current conditions and forecasts of future economic conditions. Generally, trade receivables are written-off at management’s discretion after assessment and are not subject to enforcement activity. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets disclosed in Note 17. The Group’s share of bills receivables of a joint venture which was used as collateral as security is disclosed in Note 6.

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

At December 31, 2019, the Group had top 20 customers (2018: top 20 customers) that owed the Group more than RMB 387.6 million (US$54.7 million) (2018: RMB 114.2 million) and accounted for approximately 50.0% (2018: 26.0%) of trade receivables (excluding bills receivables) respectively. These customers are located in the PRC. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets mentioned in Note 17. The Group’s share of bills receivables of a joint venture which was used as collateral as security is disclosed in Note 6.

Cash and fixed deposits are placed with banks and financial institutions which are regulated.

Liquidity risk

The Group monitors its liquidity risk and maintains a level of cash and cash equivalents deemed adequate by management to finance the Group’s operations and to mitigate the effects of fluctuations in cash flows, and having adequate amounts of committed credit facilities.

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

Capital management

12 Months Ended

Dec. 31, 2019

Capital management

34.	Capital management

The Group manages its capital to ensure that entities in the Group will be able to continue as a going concern while maximizing the return to shareholders through the optimization of the debt and equity balance except where decisions are made to exit businesses or close companies.

The capital structure of the Group consists of debts (which includes the borrowings, lease liabilities and trade and other payables, less cash and bank balances) and equity attributable to equity holders of the parent (comprising issued capital and reserves).


	31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			US$’000

Loans and borrowings (current and non-current) (Note 28(b))		2,016,092			2,055,046			290,052
Lease liabilities (current and non-current) (Note 27)		—			60,007			8,469
Other liabilities (current and non-current) (Note 28(a))		48			—			—
Trade and other payables (current and non-current) (Note 24)		7,191,134			8,644,393			1,220,081
Less: Cash and bank balances (Note 18)		(6,128,522	)		(6,390,918	)		(902,023	)

Net debts		3,078,752			4,368,528			616,579
Equity attributable to equity holders of the parent		8,395,849			8,767,529			1,237,460

Total capital and net debts		11,474,601			13,136,057			1,854,039

The Group manages its capital structure and makes adjustments to it, in light of changes in economic conditions. To maintain or adjust the capital structure, the Group may adjust the dividend payment to shareholders, return capital to shareholders or issue new shares.

No changes were made in the objectives, policies or processes during the years ended December 31, 2018 and 2019.

As disclosed in Note 22, certain subsidiaries of the Group are required by the relevant authorities in the PRC to contribute and maintain a

non-distributable

statutory reserve fund whose utilization is subject to approval by the relevant authorities in the PRC. This externally imposed capital requirement has been complied with by the subsidiaries of the Group for the financial years ended December 31, 2018 and 2019.

Fair value measurement

12 Months Ended

Dec. 31, 2019

Fair value measurement

35.	Fair value measurement

Quantitative disclosures fair value measurement hierarchy for assets and liabilities as at December 31, 2018:

Fair value measurement using

Date of

valuation

Quoted

prices

active

markets

Significant

observable

inputs

Significant

unobservable

inputs

Total

(Level 1)

(Level 2)

(Level 3)

RMB’000

Assets measured at fair value

Quoted equity securities:

Quoted equity shares – TCL (Note 16)

December 31,

2018

21,876

—

Derivative financial assets:

Foreign exchange forward contract – USD

(i)

(Note 16)

December 31,

2018

4,529

—

4,529

—

Debt instruments

(ii)

Bills receivable (Note 17)

December 31,

2018

6,981,106

—

6,981,106

—

Quantitative disclosures fair value measurement hierarchy for assets and liabilities as at December 31, 2019:

Fair value measurement using

Date of

valuation

Quoted

prices

active

markets

Significant

observable

inputs

Significant

unobservable

inputs

Total

(Level 1)

(Level 2)

(Level 3)

US$’000

RMB’000

Assets measured at fair value

Quoted equity securities:

Quoted equity shares – TCL (Note 16)

December 31,

2019

1,304

9,235

—

Debt financial assets

(ii)

Bills receivable (Note 17)

December 31,

2019

988,728

7,005,234

—

7,005,234

—

Liabilities

measured at fair value

Derivative financial liabilities:

Foreign exchange forward contract – USD

(i)

(Note 28)

December 31,

2019

141

999

—

999

—

Note:

(i)

Forward currency contracts are valued using a valuation technique with market observable inputs. The most frequently applied valuation techniques include forward pricing, using present value calculations. The models incorporate various inputs including the foreign exchange spot and forward rates.

(ii)

The fair value of the Group’s debt financial assets is measured based on quoted market interest rates of similar instruments.

There have been no transfers between Level 1 and Level 2 during 2019 and 2018.

Financial assets and financial liabilities

12 Months Ended

Dec. 31, 2019

Financial assets and financial liabilities

36.	Financial assets and financial liabilities


	Note		Financial assets at fair value through profit or loss		Financial assets at amortized costs		Fair Value through OCI		Other financial liabilities at amortized cost		Total
			RMB’000		RMB’000		RMB’000		RMB’000		RMB’000

As at December 31, 2018

Financial assets
Quoted equity securities		16		21,876		—		—		—		21,876
Derivative not designated as hedges – foreign exchange forward contract		16		4,529		—		—		—		4,529
Trade and bills receivable		17		—		408,000		6,981,106		—		7,389,106
Other receivables		17		—		140,505		—		—		140,505
Cash and bank balances		18		—		6,128,522		—		—		6,128,522

				26,405		6,677,027		6,981,106		—		13,684,538


Financial liabilities
Trade and other payables		24		—		—		—		7,129,860		7,129,860
Loans and borrowings		28(b)		—		—		—		2,016,092		2,016,092
Other liabilities		28(a)		—		—		—		48		48

				—		—		—		9,146,000		9,146,000


	Note	Financial assets at fair value through profit or loss		Financial assets at amortized costs		Fair Value through OCI		Other financial liabilities at amortized cost		Total		Total
		RMB’000		RMB’000		RMB’000		RMB’000		RMB’000		US$’000

As at December 31, 2019

Financial assets
Quoted equity securities	16		9,235		—		—		—		9,235		1,304
Trade and bills receivable	17		—		7 37 , 067		7,005,234		—		7,7 4 2, 301		1,09 2 , 758
Other receivables	17		—		1 61 , 292		—		—		1 61 , 292		2 2 , 765
Cash and bank balances	18		—		6,390,918		—		—		6,390,918		902,023

			9,235		7,289,277		7,005,234		—		14,303,746		2,018,850


Financial liabilities
Trade and other payables	24		—		—		—		8,584,360		8,584,360		1,211,607
Lease liabilities	27		—		—		—		60,007		60,007		8,469
Loans and borrowings	28(b)		—		—		—		2,055,046		2,055,046		290,052

			—		—		—		10,699,413		10,699,413		1,510,128

Quoted equity securities relates to the Group’s investment in TCL, which is a company listed on the Main Board of the Singapore Exchange and is involved in investment in real estate and marketing & distributing brands in beauty, wellness and lifestyle categories. Fair values of the quoted equity shares are determined by reference to published price quotations in an active market.

Financial assets/liabilities through profit or loss reflect the positive/negative change in fair value of the foreign exchange forward contract that is not designated in hedge relationships, but are, nevertheless, intended to reduce the level of foreign currency risk.

Changes in liabilities arising from financing activities


	January 1, 2018		Cash flows			Foreign exchange movement			Translation reserve		Others			December 31, 2018
	RMB’000		RMB’000			RMB’000			RMB’000		RMB’000			RMB’000

As at December 31, 2018

Loans and borrowings
- current		1,600,000		400,320			694			—		—			2,001,014
- non-current		26,341		(11,756	)		(305	)		798		—			15,078
Obligations under finance leases
- current		33		(33	)		—			—		14			14
- non-current		46		—			—			2		(14	)		34

Total liabilities from financing activities		1,626,420		388,531			389			800		—			2,016,140


	January 1, 2019		Effect of adoption of IFRS 16			January 1, 2019 (Restated)		Cash flows			Addition		Accretion of interest		Foreign exchange movement			Translation reserve		Others			December 31, 2019		December 31, 2019
	RMB’000		RMB’000			RMB’000		RMB’000			RMB’000		RMB’000		RMB’000			RMB’000		RMB’000			RMB’000		US$’000

As at December 31, 2019

Loans and borrowings
- current		2,001,014		—			2,001,014		39,979			—		—		(1,469	)		444		15,078			2,055,046		290,052
- non-current		15,078		—			15,078		—			—		—		—			—		(15,078	)		—		—
Obligations under finance leases
- current		14		(14	)		—		—			—		—		—			—		—			—		—
- non-current		34		(34	)		—		—			—		—		—			—		—			—		—
Lease liabilities
- current		—		42,457			42,457		(51,283	)		6,008		2,918		—			24		28,509			28,633		4,041
- non-current		—		54,395			54,395		—			5,465		—		—			23		(28,509	)		31,374		4,428

Total liabilities from financing activities		2,016,140		96,804			2,112,944		(11,304	)		11,473		2,918		(1,469	)		491		—			2,115,053		298,521

The ‘Others’ column includes the effect of reclassification of

non-current

portion of loans and borrowings, including obligations under finance leases and lease liabilities due to the passage of time.

Subsequent event

12 Months Ended

Dec. 31, 2019

Subsequent event

37.	Subsequent event

Since December 2019, an outbreak of a novel strain of coronavirus (COVID-19) spread rapidly in China and globally. In an effort to contain the spread of the virus, many countries, including China, the United States and across Europe, have imposed restrictions on travel and in-person gatherings, suspensions of public events, business closures, quarantines and lock-downs, resulting in a substantial reduction in economic activity. In March 2020, the World Health Organization declared COVID-19 a pandemic.

Yuchai’s operations and those of its suppliers are predominantly based in China and therefore have been adversely affected by the foregoing measures and recovery is ongoing. The market outlook for automobile industry sales has deteriorated, national and global economic growth has slowed and the liquidity and financial conditions of Yuchai’s customers have weakened. Yuchai has experienced and is continuing to experience increased supply lead times, supply disruptions, reduced manufacturing capacity and limited transport and shipping options from and to affected regions.

Due to the Chinese government’s effective containment measures of COVID-19 and our employees’ tireless efforts during this period, Yuchai has observed an initial recovery in its operations. Yuchai resumed operations in mid-February 2020 at a relatively small scale due to the shortage of engine components and materials as a result of continuing supply chain disruptions. Utilization rate surpassed 50% in mid-March 2020 and ramp up is continuing. While the COVID-19 pandemic is ongoing and its dynamic nature makes it difficult to forecast the pandemic’s effects on Yuchai’s results of operations for 2020 and in subsequent years, as of the date of this Annual Report, the Company expect a decline in both production and sales in the first quarter of 2020 compared to the same period of 2019 with potential continuing impact in subsequent periods.

Basis of preparation and accounting policies (Policies)

12 Months Ended

Dec. 31, 2019

Business combinations and goodwill

Basis of preparation

2.1	Basis of preparation

The consolidated financial statements have been prepared on a historical cost basis except as disclosed in the accounting policies below.

The consolidated financial statements are presented in Renminbi (“RMB”) and all values are rounded to the nearest thousand (“RMB’000”), except when otherwise indicated.

The consolidated financial statements provide comparative information in respect of the previous period.

Basis of consolidation

2.2	Basis of consolidation

•

Power over the investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee)

•

Exposure, or rights, to variable returns from its involvement with the investee

•

The ability to use its power over the investee to affect its returns

•

The contractual arrangement with the other vote holders of the investee

•

Rights arising from other contractual arrangements

•

The Group’s voting rights and potential voting rights

The Group

re-assesses

Profit or loss and each component of other comprehensive income (“OCI”) are attributed to the equity holders of the parent of the Group and to the

non-controlling

interests, even if this results in the

non-controlling

A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.

If the Group loses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities,

non-controlling

interest and other components of equity, while any resultant gain or loss is recognized in profit or loss. Any investment retained is recognized at fair value.

(a)

Business combinations and goodwill

non-controlling

interests in the acquiree. For each business combination, the Group elects whether to measure the

non-controlling

Financial Instruments

Goodwill is initially measured at cost (being the excess of the aggregate of the consideration transferred and the amount recognized for

non-controlling

re-assesses

Investments in associates and joint ventures

(b)

Investments in associates and joint ventures

non-controlling

interests in the subsidiaries of the associate or joint venture.

Current versus non-current classification

(c)

Current versus

non-current

classification

The Group presents assets and liabilities in the statement of financial position based on

current/non-current

classification. An asset is current when it is:

•

Expected to be realized or intended to be sold or consumed in normal operating cycle;

•

Held primarily for the purpose of trading;

•

Expected to be realized within twelve months after the reporting period; or

•

Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period.

All other assets are classified as

non-current.

A liability is current when:

•

It is expected to be settled in normal operating cycle;

•

It is held primarily for the purpose of trading;

•

It is due to be settled within twelve months after the reporting period; or

•

There is no unconditional right to defer the settlement of the liability for at least twelve months after the reporting period.

The terms of the liability that could, at the option of the counterparty, result in its settlement by the issue of equity instruments do not affect its classification.

The Group classifies all other liabilities as

non-current.

Deferred tax assets and liabilities are classified as

non-current

assets and liabilities.

Fair value measurement

(d)

Fair value measurement

The Group measures financial instruments, such as quoted equity securities, bills receivable and a foreign exchange forward contract, at fair value at each balance sheet date.

•

In the principal market for the asset or liability, or

•

In the absence of a principal market, in the most advantageous market for the asset or liability

The principal or the most advantageous market must be accessible by the Group.

A fair value measurement of a

non-financial

•

Level 1 – Quoted (unadjusted) market prices in active markets for identical assets or liabilities

•

Level 2 – Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable

•

Level 3 – Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable

For assets and liabilities that are recognized in the financial statements at fair value on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy by

re-assessing

categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.

Fair value related disclosures for financial instruments that are measured at fair value are summarized in the following notes:

Foreign currency translation

(e)

Foreign currency translation

Each entity in the Group determines its own functional currency, and items included in the financial statements of each entity are measured using that functional currency.

Transactions and balances

Transactions in foreign currencies are initially recorded by the Group’s entities at their respective functional currency spot rates at the date the transaction first qualifies for recognition.

Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency spot rate of exchange at the reporting date.

Non-monetary

items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions.

Non-monetary

items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value is determined. The gain or loss arising on translation of

non-monetary

In determining the spot exchange rate to use on initial recognition of the related asset, expense or income (or part of it) on the derecognition of a

non-monetary

asset or

non-monetary

liabilities relating to advance consideration, the date of the transaction is the date on which the Group initially recognizes the

non-monetary

asset or

non-monetary

liability arising from advance consideration. If there are multiple payments or receipts in advance, the Group determines the transaction date for each payment or receipt of advance consideration.

Group companies

Revenue from Contracts with Customers

(f)

Revenue from Contracts with Customers

The disclosures of significant accounting judgements, estimates and assumptions relating to revenue from contracts with customers are provided in Note 3.

Sale of engines

(i) Variable consideration

Volume rebates

(ii) Significant financing component

Warranty obligations

Provisions

Consignment arrangements

Sale of completed development properties

For development properties whereby the Group does not have an enforceable right to payment for performance completed to date, revenue is recognized when the customer obtains control of the asset.

Rendering of services

Contract balances

Trade receivables

Financial instruments – Initial recognition and subsequent measurement

Contract liabilities

Refund liabilities

Costs to fulfil a contract

Government grants

(g)

Government grants

Taxes

(h)

Taxes

Current income tax

Deferred tax

Deferred tax liabilities are recognized for all taxable temporary differences, except:

•

re-assessed

at each reporting date and are recognized to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.

Sales tax

Expenses and assets are recognized net of the amount of sales tax, except:

•

When receivables and payables are stated with the amount of sales tax included

The net amount of sales tax recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the statement of financial position.

Cash dividend and non-cash distribution to equity holders of the parent

(i)

Cash dividend and

non-cash

distribution to equity holders of the parent

The Company recognizes a liability to make cash or

non-cash

Non-cash

distributions are measured at the fair value of the assets to be distributed with fair value measurement recognized directly in equity.

Upon distribution of

non-cash

asset, any difference between the carrying amount of the liabilities and the carrying amount of the assets distributed is recognized in the statement of profit or loss.

Property, plant and equipment

(j)

Property, plant and equipment


Freehold buildings	:	50 years
Leasehold land, buildings and improvements	:	Shorter of 15 to 50 years or lease term
Plant and machinery	:	3 to 20 years
Office furniture, fittings and equipment	:	3 to 20 years
Motor and transport vehicles	:	3.5 to 15 years

The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate.

Investment properties

(k)

Investment properties

Transfers are made to (or from) investment property only when there is a change in use. Under cost model, the transfer does not change the carrying amount of the property transferred.

Intangible assets

(l)

Intangible assets

The useful lives of intangible assets are assessed as either finite or indefinite.

Research and development costs

Research costs are expensed as incurred.

Development expenditures on an individual project are recognized as an intangible asset when the Group can demonstrate:

•

The technical feasibility of completing the intangible asset so that the asset will be available for use or sale

•

Its intention to complete and its ability to use or sell the asset

•

How the asset will generate future economic benefits

•

The availability of resources to complete the asset

•

The ability to measure reliably the expenditure during development

Goodwill

Accounting policy for goodwill is separately discussed in Note 2.3(a).

A summary of the policies applied to the Group’s intangible assets is as follows:


	Trademarks	Technology know-how	Development costs
Useful lives	Indefinite	10 years	*
Amortization method used	No amortization	Amortized on a straight-line basis over the period of the technology know-how	*
Internally generated or acquired	Acquired	Internally generated	Internally generated

Development costs relate to on-going development projects that have not been completed and are not available for use.

Financial instruments

(m)

Financial instruments – Initial recognition and subsequent measurement

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

Financial assets

Initial recognition and measurement

Financial assets are classified, at initial recognition, as subsequently measured at amortized cost, fair value through other comprehensive income (“OCI”), and fair value through profit or loss.

Revenue from contracts with customers

Subsequent measurement

For purposes of subsequent measurement, financial assets are classified in four categories:

•

Financial assets at amortized cost (debt instruments)

•

Financial assets at fair value through OCI with recycling of cumulative gains and losses (debt instruments)

•

Financial assets designated at fair value through OCI with no recycling of cumulative gains and losses upon derecognition (equity instruments)

•

Financial assets at fair value through profit or loss

Financial assets at amortized cost (debt instruments)

The Group’s financial assets at amortized cost includes trade and other receivables (excluding bills receivable).

Financial assets at fair value through OCI (debt instruments)

The Group’s debt instruments at fair value through OCI includes bills receivable.

Financial assets designated at fair value through OCI (equity instruments)

Upon initial recognition, the Group can elect to classify irrevocably its equity investments as equity instruments designated at fair value through OCI when they meet the definition of equity under

IAS 32 Financial Instruments: Presentation

and are not held for trading. The classification is determined on an

instrument-by-instrument

basis.

The Group does not have equity instruments measured under this category.

Financial assets at fair value through profit or loss

Financial assets at fair value through profit or loss are carried in the statement of financial position at fair value with net changes in fair value recognized in statement of profit or loss.

A derivative embedded in a hybrid contract, with a financial liability or

non-financial

Derecognition

•

The rights to receive cash flows from the asset has expired; or

•

Impairment

Further disclosures relating to impairment of financial assets are also provided in the following notes:

•

Debt instruments at fair value through OCI represented by bills receivable (Note 17)

•

Trade receivables (Note 17)

“12-month

Financial liabilities

Initial recognition and measurement

All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.

The Group’s financial liabilities include trade and other payables, loans and borrowings, lease liabilities, other liabilities and derivative financial instruments.

Subsequent measurement

For purposes of subsequent measurement, financial liabilities are classified in two categories:

•

Financial liabilities at fair value through profit or loss

•

Financial liabilities at amortized cost

Financial liabilities at fair value through profit or loss

Gains or losses on liabilities held for trading are recognized in the statement of profit or loss.

Financial liabilities at amortized cost

This category generally applies to loans and borrowings, lease liabilities, other liabilities and payables. For more information refer to Note 24 and 28.

Derecognition

Offsetting of financial instruments

Inventories

(n)

Inventories

Inventories are valued at the lower of cost and net realizable value.

Costs incurred in bringing each product to its present location and condition are accounted for as follows:

•

Raw materials: purchase cost on a weighted average basis

•

Finished goods and work in progress: cost of direct materials and labor and a proportion of manufacturing overheads based on the normal operating capacity, but excluding borrowing costs

Net realizable value is the estimated selling price in the ordinary course of business, less estimated costs of completion and the estimated costs necessary to make the sale.

Impairment of non-financial assets

(o)

Impairment of

non-financial

assets

Further disclosures relating to impairment of

non-financial

assets are also provided in the following notes:

•

Disclosures for significant assumptions (Note 3)

•

Property, plant and equipment (Note 11)

•

Intangible assets (Note 14)

•

Investment property (Note 12)

•

Right-of-use assets (Note 19)

•

Investment in associates & joint ventures (Note 5 & 6)

In assessing value in use, the estimated future cash flows are discounted to their present value using a

pre-tax

Impairment losses are recognized in the statement of profit or loss in expense categories consistent with the function of the impaired asset.

Goodwill is tested for impairment annually and when circumstances indicate that the carrying value may be impaired.

Intangible assets with indefinite useful lives are tested for impairment annually at the CGU level, as appropriate, and when circumstances indicate that the carrying value may be impaired.

Cash and cash equivalents

(p)

Cash and cash equivalents

Leases

(q)

Leases

Accounting policy beginning January 1, 2019

Group as a lessee

The Group applies a single recognition and measurement approach for all leases, expect for short-term leases and leases of

low-value

assets. The Group recognizes lease liabilities to make lease payments and

right-of-use

assets representing the right to use the underlying assets.

(i)

Right-of-use

assets

The Group recognizes

right-of-use

assets at the commencement date of the lease (i.e., the date the underlying asset is available for use).

Right-of-use

assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of

right-of-use

assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received.

Right-of-use

assets are depreciated on a straight-line basis over the shorter of the lease term and estimated useful lives of the assets, as follows:


• Leasehold land		Shorter of 3 years to 50 years
• Building and office space		1 to 6 years
• Office furniture, fittings and equipment		5 years

The

right-of-use

assets are also subjected to impairment. Refer to the accounting policies in Section (o)

Impairment of

non-financial

assets

(ii) Lease liabilities

in-substances

(iii) Short-term leases

Group as a lessor

Accounting policy prior to January 1, 2019

Prepaid operating lease

Group as a lessee

Group as a lessor

Borrowing costs

(r)

Borrowing costs

Provisions

(s)

Provisions

General

If the effect of the time value of money is material, provisions are discounted using a current

pre-tax

rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognized as a finance cost.

Product warranty

on-road

Onerous contract

A provision for onerous contracts is recognized when the unavoidable costs of meeting the obligations under a contract exceed the economic benefits expected to be received under it.

Pensions and other post-employment benefits

(t)

Pensions and other post-employment benefits

Defined contribution plans

Employee leave entitlement

Share-based payments

(u)

Share-based payments

Equity-settled transactions

The cost of equity-settled transactions is determined by the fair value at the date when the grant is made using an appropriate valuation model, further details of which are given in Note 23.

No expense is recognized for awards that do not ultimately vest, except for equity-settled transactions for which vesting is conditional upon a market or

non-vesting

condition. These are treated as vested irrespective of whether the market or

non-vesting

condition is satisfied, provided that all other performance and/or service conditions are satisfied.

The dilutive effect of outstanding options is reflected as additional share dilution in the computation of diluted earnings per share (further details are given in Note 10).

Development properties

(v)

Development properties

Development properties are properties acquired or being constructed for sale in the ordinary course of business, rather than to be held for the Group’s own use, rental or capital appreciation.

Development properties are held as other asset and are measured at the lower of cost and net realizable value.

Costs to complete development include cost of land and other direct and related development expenditure, including borrowing costs incurred in developing the properties.

The costs of development properties recognized in profit or loss on disposal are determined with reference to the specific costs incurred on the property sold and an allocation of any

non-specific

costs based on the relative size of the property sold.

Derivative financial instruments

(w)

Derivative financial instruments

Initial recognition and subsequent measurement

Basis of preparation and accounting policies (Tables)

12 Months Ended

Dec. 31, 2019

Estimated Useful Life of Assets

Depreciation is calculated on a straight-line basis over the estimated useful life of the assets as follows:


Freehold buildings	:	50 years
Leasehold land, buildings and improvements	:	Shorter of 15 to 50 years or lease term
Plant and machinery	:	3 to 20 years
Office furniture, fittings and equipment	:	3 to 20 years
Motor and transport vehicles	:	3.5 to 15 years

Disclosure of detailed information about intangible assets useful life

A summary of the policies applied to the Group’s intangible assets is as follows:


	Trademarks	Technology know-how	Development costs
Useful lives	Indefinite	10 years	*
Amortization method used	No amortization	Amortized on a straight-line basis over the period of the technology know-how	*
Internally generated or acquired	Acquired	Internally generated	Internally generated

Development costs relate to on-going development projects that have not been completed and are not available for use.

Disclosure of detailed information about right-of-use assets useful life

Right-of-use

assets are depreciated on a straight-line basis over the shorter of the lease term and estimated useful lives of the assets, as follows:


• Leasehold land		Shorter of 3 years to 50 years
• Building and office space		1 to 6 years
• Office furniture, fittings and equipment		5 years

Disclosure of detailed information about the effect of adoption IFRS 16

The effect of adoption IFRS 16 as at January 1, 2019 (increase/(decrease)) is, as follows:


	RMB’000			US$’000
Assets
Prepaid operating leases		(367,092	)		(51,812	)
Property, plant and equipment		(39	)		(6	)
Right-of-use assets		446,608			63,035
Trade and other receivables - Prepayment		(1,770	)		(250	)

Total assets		77,707			10,967

Current Liabilities
Lease liabilities		42,457			5,992
Other liabilities		(14	)		(2	)
Trade and other payables - Accruals		(19,097	)		(2,695	)

Total current liabilities		23,346			3,295

Non-current Liabilities
Lease liabilities		54,395			7,677
Other liabilities		(34	)		(5	)

Total non-current liabilities		54,361			7,672

Leases

for the accounting policy prior to January 1, 2019.

Schedule of operating lease commitments reconciliation

The lease liabilities as at January 1, 2019 can be reconciled to the operating lease commitments as of December 31, 2018, as follows:


	RMB’000			US$’000
Assets
Operating lease commitments as at December 31, 2018		101,700			14,354
Less:
Commitments relating to short-term leases		(2,140	)		(302	)
Revised rental		(13,878	)		(1,959	)

Adjusted operating lease commitments		85,682			12,093
Weighted average incremental borrowing rate as at January 1, 2019		4.34	%		4.34	%

Discounted operating lease commitments as at January 1, 2019		79,477			11,218
Less:
Prepayment adjusted to lease liabilities		(1,770	)		(250	)
Add:
Commitments relating to leases previously classified as finance leases		48			7
Accrual adjusted to lease liabilities		19,097			2,695

Lease liabilities as at January 1, 2019 (Note 19)		96,852			13,670

Investments in subsidiaries (Tables)

12 Months Ended

Dec. 31, 2019

Investments accounted for using equity method [abstract]

Details of Significant Subsidiaries of the Group

Details of significant subsidiaries of the Group are as follows:


Name of significant subsidiary	Place of incorporation/ business	Group’s effective equity interest
		31.12.2018		31.12.2019
		%		%

Guangxi Yuchai Machinery Company Limited	People’s Republic of China		76.4		76.4
Guangxi Yuchai Machinery Monopoly Development Co., Ltd	People’s Republic of China		54.9		54.9
Guangxi Yuchai Accessories Manufacturing Company Limited	People’s Republic of China		76.4		76.4
Guangxi Yuchai Equipment Mould Company Limited	People’s Republic of China		76.4		76.4
Guangxi Yulin Hotel Company Limited	People’s Republic of China		76.4		76.4
Jining Yuchai Engine Company Limited	People’s Republic of China		76.4		76.4
Yuchai Remanufacturing Services (Suzhou) Co., Ltd.	People’s Republic of China		76.4		76.4
HL Global Enterprises Limited	Singapore		50.2		50.2

Subsidiary having Non-controlling Interests that are Material to the Group

The Group has the following subsidiary that has

non-controlling

interests (“NCI”) that are material to the Group.


	31.12.2017			31.12.2018			31.12.2019
Proportion of equity interest held by NCI
Yuchai		23.6	%		23.6	%		23.6	%


	31.12.2017 RMB’000		31.12.2018 RMB’000		31.12.2019 RMB’000		31.12.2019 US$’000
Accumulated balances of material NCI
Yuchai				2,556,644		2,603,227		367,423

Profit allocated to material NCI
Yuchai		270,452		252,394		254,284		35,890

Dividends paid to material NCI
Yuchai		98,941		135,905		207,514		29,289

Summarized Financial Information Including Goodwill on Acquisition and Consolidation Adjustment But Before Intercompany Eliminations of Subsidiaries with Material Non-controlling Interests

Summarized financial information including goodwill on acquisition and consolidation adjustments but before intercompany eliminations of subsidiaries with material

non-controlling

interests are as follows:


	31.12.2017
	Yuchai RMB’000
Summarized statement of comprehensive income
Revenue		16,140,621

Profit for the year, representing total comprehensive income for the year		960,359

Attributable to NCI		270,452

Summarized statement of cash flows
Operating		1,435,156
Investing		(215,817	)
Financing		221,660

Net increase in cash and cash equivalents		1,440,999


	31.12.2018
	Yuchai
	RMB’000
Summarized statement of financial position
Current assets		15,498,171
Non-current assets, excluding goodwill		4,925,347
Goodwill		212,636
Current liabilities		(9,489,499	)
Non-current liabilities		(828,993	)

Net assets		10,317,662

Total equity		10,317,662

Attributable to NCI		2,556,644

Summarized statement of comprehensive income
Revenue		16,210,467

Profit for the year		972,010

Total comprehensive income for the year		867,438

Attributable to NCI		252,394

Summarized statement of cash flows
Operating		701,716
Investing		(331,416	)
Financing		(66,975	)

Net increase in cash and cash equivalents		303,325


	31.12.2019
	Yuchai
	RMB’000			US$’000
Summarized statement of financial position
Current assets		16,444,627			2,321,015
Non-current assets, excluding goodwill		6,160,217			869,461
Goodwill		212,636			30,012
Current liabilities		(11,162,938	)		(1,575,551	)
Non-current liabilities		(964,084	)		(136,072	)

Net assets		10,690,458			1,508,865

Total equity		10,690,458			1,508,865

Attributable to NCI		2,603,227			367,423

Summarized statement of comprehensive income
Revenue		17,980,304			2,537,763

Profit for the year		825,807			116,555

Total comprehensive income for the year		828,861			116,987

Attributable to NCI		254,284			35,890

Summarized statement of cash flows
Operating		1,632,557			230,421
Investing		(858,904	)		(121,227	)
Financing		(656,576	)		(92,670	)

Net increase in cash and cash equivalents		117,077			16,524

Assets and Liabilities and Cash Flow Effect of Disposal of Subsidiaries

The value of assets and liabilities of the disposal recorded in the consolidated financial statements and the cash flow effect of the disposals were:


	31.12.2017
	RMB’000
Property, plant and equipment		104,844
Trade receivables and other receivables		3,257
Cash and bank balances		9,153

		117,254
Trade and other payables		(3,737	)
Provision for taxation		(44	)
Deferred taxation		(588	)

Carrying value of net assets		112,885

Gain on disposal:
Total consideration		395,000
Less: Cost of disposal		(47,532	)

Total consideration less cost of disposal		347,468
Net assets derecognized		(112,885	)
Realization of foreign translation reserves upon disposal		(18,468	)

Gain on disposal of the subsidiaries (Note 8.2(a))		216,115

Total consideration less cost of disposal		347,468
Add: Transaction cost unpaid		33,287
Less: Retention sum receivables		(30,000	)
Cash and bank balances of the subsidiaries		(9,153	)

Net cash inflow on disposal of the subsidiaries		341,602

Investment in associates (Tables)

12 Months Ended

Dec. 31, 2019

Investments accounted for using equity method [abstract]

Summarized Investment in Associates

The Group’s investment in associates are summarized as below:


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Share of loss of associates, net of tax		28		59		181		26


			31.12.2018		31.12.2019		31.12.2019
			RMB’000		RMB’000		US$’000
Carrying amount of investment				2,130		1,955		276

Details of Associates

Details of the associates are as follows:


Name of company	Principal activities	Place of incorporation/ business		Group’s effective equity interest
				31.12.2018		31.12.2019
				%		%
Held by subsidiaries
Sinjori Sdn. Bhd.	Property investment and development		Malaysia		14.0		14.0
Guangxi Yuchai Quan Xing Machinery Co., Ltd. (“Quan Xing”)	Manufacture spare part and sales of auto spare part, diesel engine & spare part, metallic materials, generator & spare part, chemical products (exclude dangerous goods), lubricating oil		People’s Republic of China		15.3		15.3

Investment in joint ventures (Tables)

12 Months Ended

Dec. 31, 2019

Investments accounted for using equity method [abstract]

Share of Results of Joint Ventures and Carrying Amount of Investment to Joint Ventures


	31.12.2017			31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			RMB’000			US$’000
Share of profit/(loss) of joint ventures, net of tax:
Y & C Engine Co., Ltd		17,755			17,612			28,484			4,020
MTU Yuchai Power Co., Ltd.		(8,487	)		(6,882	)		594			84
Eberspaecher Yuchai Exhaust Technology Co., Ltd		—			—			(9,366	)		(1,322	)
Other joint ventures.		814			963			(497	)		(70	)

		10,082			11,693			19,215			2,712


				31.12.2018			31.12.2019			31.12.2019
				RMB’000			RMB’000			US$’000
Carrying amount of investments:
Y & C Engine Co., Ltd					155,681			176,082			24,852
MTU Yuchai Power Co., Ltd					59,632			59,931			8,459
Eberspaecher Yuchai Exhaust Technology Co., Ltd (1)					—			31,794			4,487
Other joint ventures					7,499			6,184			873

					222,812			273,991			38,671

Interest in Joint Ventures

The Group has interests in the following joint ventures:


Name of company	Principal activities	Place of incorporation/ business		Group’s effective equity interest
				31.12.2018		31.12.2019
				%		%
Held by subsidiaries

HL Heritage Sdn. Bhd.	Property development and property investment holdings		Malaysia		30.1		30.1

Shanghai Hengshan Equatorial Hotel Management Co., Ltd.	Hotel and property management		People’s Republic of China		24.6		24.6

Y & C Engine Co., Ltd (“Y&C”)	Manufacture and sale of heavy duty diesel engines, spare parts and after-sales services		People’s Republic of China		34.4		34.4

Guangxi Yineng IOT Science & Technology Co., Ltd.	Design, development, management and marketing of an electronic operations management platform		People’s Republic of China		15.3		15.3

MTU Yuchai Power Co., Ltd (“MTU Yuchai Power”)	Manufacture off-road diesel engines		People’s Republic of China		38.2		38.2

Eberspaecher Yuchai Exhaust Technology Co. Ltd (“Eberspaecher Yuchai”)	Application development, production, sales and service on engine exhaust control systems		People’s Republic of China		37.4		37.4

Summarized Financial Information of Joint Ventures and Reconciliation with Carrying Amount of Investment in Consolidated Financial Statements


	31.12.2017
	Y & C			MTU Yuchai Power			Total
	RMB’000			RMB’000			RMB’000
Revenue		1,331,823			—			1,331,823
Depreciation and amortization		(20,831	)		(227	)		(21,058	)
Interest expense		(28,663	)		(343	)		(29,006	)
Profit/(loss) for the year, representing total comprehensive income for the year		55,982			(16,973	)		39,009

Proportion of the Group’s ownership		45	%		50	%

Group’s share of profit/(loss)		25,192			(8,487	)
Unrealized profit on transactions with joint venture		(7,437	)		—

Group’s share of profit/(loss) of significant joint ventures		17,755			(8,487	)		9,268

Group’s share of profit of other joint ventures, representing the Group’s share of total comprehensive income of other joint ventures								814

Group’s share of profit for the year, representing the Group’s share of total comprehensive income for the year								10,082


	31.12.2018
	Y & C			MTU Yuchai Power			Total
	RMB’000			RMB’000			RMB’000
Non-current assets		755,671			72,342			828,013
Current assets
- Cash and bank balances		113,061			21,707			134,768
- Others		646,751			209,022			855,773

Total assets		1,515,483			303,071			1,818,554

Non-current liabilities		(46,603	)		—			(46,603	)
Current liabilities
- Loans and borrowings		(51,534	)		—			(51,534	)
- Others		(942,306	)		(174,242	)		(1,116,548	)

Total liabilities		(1,040,443	)		(174,242	)		(1,214,685	)

Equity		475,040			128,829			603,869

Proportion of the Group’s ownership		45	%		50	%

Group’s share of net assets		213,768			64,415
Unrealized profit on transactions with joint venture		(58,087	)		(4,783	)

Carrying amount of significant joint ventures		155,681			59,632			215,313

Carrying amount of other joint ventures								7,499

Carrying amount of the investment in joint ventures								222,812


	31.12.2018
	Y & C			MTU Yuchai Power			Total
	RMB’000			RMB’000			RMB’000
Revenue		1,443,238			160,580			1,603,818
Depreciation and amortization		(45,254	)		(3,744	)		(48,998	)
Interest expense		(24,605	)		(1,689	)		(26,294	)
Profit/(loss) for the year, representing total comprehensive income for the year		43,359			(4,197	)		39,162

Proportion of the Group’s ownership		45	%		50	%

Group’s share of profit/(loss)		19,512			(2,099	)
Unrealized profit on transactions with joint venture		(1,900	)		(4,783	)

Group’s share of profit/(loss) of significant joint ventures		17,612			(6,882	)		10,730

Group’s share of profit of other joint ventures, representing the Group’s share of total comprehensive income of other joint ventures								963

Group’s share of profit for the year, representing the Group’s share of total comprehensive income for the year								11,693


	31.12.2019
	Y & C			MTU Yuchai Power			Eberspaecher Yuchai			Total			Total
	RMB’000			RMB’000			RMB’000			RMB’000			US$’000
Non-current assets		774,046			78,362			24,001			876,409			123,697
Current assets
- Cash and bank balances		164,942			9,265			54,567			228,774			32,289
- Others		1,060,805			221,482			7,970			1,290,257			182,109

Total assets		1,999,793			309,109			86,538			2,395,440			338,095

Non-current liabilities		(84,154	)		—			—			(84,154	)		(11,878	)
Current liabilities
- Others		(1,396,116	)		(179,680	)		(21,651	)		(1,597,447	)		(225,466	)

Total liabilities		(1,480,270	)		(179,680	)		(21,651	)		(1,681,601	)		(237,344	)

Equity		519,523			129,429			64,887			713,839			100,751

Proportion of the Group’s ownership		45	%		50	%		49	%

Group’s share of net assets		233,786			64,714			31,794
Unrealized profit on transactions with joint venture		(57,704	)		(4,783	)		—

Carrying amount of significant joint ventures		176,082			59,931			31,794			267,807			37,798

Carrying amount of other joint ventures											6,184			873

Carrying amount of the investment in joint ventures											273,991			38,671


	31.12.2019
	Y & C			MTU Yuchai Power			Eberspaecher Yuchai			Total			Total
	RMB’000			RMB’000			RMB’000			RMB’000			US$’000
Revenue		2,404,244			178,796			3,509			2,586,549			365,069
Depreciation and amortization		(26,099	)		(6,379	)		(25	)		(32,503	)		(4,588	)
Interest expense		(29,606	)		(5,017	)		—			(34,623	)		(4,887	)
Profit/(loss) for the year, representing total comprehensive income for the year		44,484			600			(19,114	)		25,970			3,665

Proportion of the Group’s ownership		45	%		50	%		49	%

Group’s share of profit/(loss)		20,018			300			(9,366	)
Unrealized profit on transactions with joint venture		8,466			294			—

Group’s share of profit/(loss) of significant joint ventures		28,484			594			(9,366	)		19,712			2,782

Group’s share of loss of other joint ventures, representing the Group’s share of total comprehensive loss of other joint ventures											(497	)		(70	)

Group’s share of profit for the year, representing the Group’s share of total comprehensive income for the year											19,215			2,712

Revenue from contracts with customers (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Disaggregation of Group's Revenue from Contracts with Customers

Set out below is the disaggregation of the Group’s revenue from contracts with customers:


	31.12.2017
	Yuchai		HLGE		Total
Segments	RMB’000		RMB’000		RMB’000
Type of goods or services
Heavy-duty engines		5,182,930		—		5,182,930
Medium-duty engines		5,620,202		—		5,620,202
Light-duty engines		2,147,728		—		2,147,728
Other products and services (i)		3,148,016		—		3,148,016
Revenue from hospitality operations		41,746		57,197		98,943

Total revenue from contracts with customers		16,140,622		57,197		16,197,819

Geographical markets
People’s Republic of China		16,073,461		17,265		16,090,726
Other countries		67,161		39,932		107,093

Total revenue from contracts with customers		16,140,622		57,197		16,197,819

Timing of revenue recognition
At a point in time		16,098,876		—		16,098,876
Over time		41,746		57,197		98,943

Total revenue from contracts with customers		16,140,622		57,197		16,197,819


			31.12.2018
			Yuchai		HLGE		Total
Segments			RMB’000		RMB’000		RMB’000
Type of goods or services
Heavy-duty engines				4,934,435		—		4,934,435
Medium-duty engines				5,537,164		—		5,537,164
Light-duty engines				2,481,554		—		2,481,554
Other products and services (i)				3,213,237		—		3,213,237
Revenue from hospitality operations				44,077		52,781		96,858

Total revenue from contracts with customers				16,210,467		52,781		16,263,248

Geographical markets
People’s Republic of China				16,119,896		—		16,119,896
Other countries				90,571		52,781		143,352

Total revenue from contracts with customers				16,210,467		52,781		16,263,248

Timing of revenue recognition
At a point in time				16,166,390		—		16,166,390
Over time				44,077		52,781		96,858

Total revenue from contracts with customers				16,210,467		52,781		16,263,248


	31.12.2019
	Yuchai		HLGE		Total		Total
Segments	RMB’000		RMB’000		RMB’000		US$’000
Type of goods or services
Heavy-duty engines		6,189,934		—		6,189,934		873,655
Medium-duty engines		5,583,982		—		5,583,982		788,130
Light-duty engines		2,429,248		—		2,429,248		342,867
Other products and services (i)		3,732,436		—		3,732,436		526,801
Revenue from hospitality operations		44,704		35,781		80,485		11,360

Total revenue from contracts with customers		17,980,304		35,781		18,016,085		2,542,813

Geographical markets
People’s Republic of China		17,913,615		—		17,913,615		2,528,350
Other countries		66,689		35,781		102,470		14,463

Total revenue from contracts with customers		17,980,304		35,781		18,016,085		2,542,813

Timing of revenue recognition
At a point in time		17,935,600		—		17,935,600		2,531,453
Over time		44,704		35,781		80,485		11,360

Total revenue from contracts with customers		17,980,304		35,781		18,016,085		2,542,813

Note:

(i)

included sales of power generator sets, engine components, service-type maintenance services and others.

Summary of Change in Contract Balances

7.2	Contract balances


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000
Trade receivables (Note 17)		408,000		738,929		104,293
Capitalized contract cost		44,434		136,457		19,260
Contract liabilities (Note 26)		340,489		436,622		61,626

Schedule of revenue recognized

(a)

Set out below is the amount of revenue recognized from:


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000
Amounts include in contract liabilities at the beginning of the year		55,604		72,321		10,207

Schedule of contract cost capitalized

(b)

Capitalized contract costs


	31.12.2018		31.12.2019			31.12.2019
	RMB’000		RMB’000			US$’000
Capitalized contract costs relating to service fee charges on development of technology know-how
At January 1		—		44,434			6,271
Addition		44,434		93,549			13,204
Utilization		—		(1,526	)		(215	)

At December 31		44,434		136,457			19,260

Summary of Performance Obligations

7.3	Performance obligations

The transaction price allocated to the remaining unsatisfied performance obligations as at 31 December are, as follows:


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000
Within one year		138,025		127,326		17,971
More than one year		53,703		53,813		7,595

Other income and expenses recognized in statement of profit and loss (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Depreciation and Amortization

(a)

Depreciation and amortization expenses


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Amortization of intangible assets		—		—		1,012		143
Amortization of prepaid operating lease		12,366		12,724		—		—
Depreciation of investment property		248		884		380		54
Depreciation of property, plant and equipment		431,567		420,277		422,859		59,683
Depreciation of right-of-use assets		—		—		40,958		5,781

		444,181		433,885		465,209		65,661

Depreciation and amortization expenses are included in the following captions:


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Cost of sales		307,102		312,769		315,445		44,523
Research and development expenses		48,291		26,751		16,470		2,325
Selling, general and administrative expenses		88,788		94,365		133,294		18,813

		444,181		433,885		465,209		65,661

Summary of Sales Related Shipping and Handling Expenses Not Separately Billed to Customers

Sales related shipping and handling expenses not separately billed to customers are included in the following caption:


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Selling, general and administrative expenses		208,197		211,971		221,255		31,228

Summary of Other Operating Income

8.2	(a) Other operating income


	31.12.2017		31.12.2018			31.12.2019		31.12.2019
	RMB’000		RMB’000			RMB’000		US$’000
Interest income		105,421		147,244			177,261		25,019
Dividend income from quoted equity securities		2,532		1,992			959		135
Gain on disposal of:
- associate		199		—			—		—
- joint venture (i)		107,976		—			—		—
- property, plant and equipment		11,668		8,835			—		—
- quoted equity securities		—		—			11,528		1,627
- right-of-use assets		—		—			9,237		1,304
- subsidiaries (Note 4)		216,115		—			—		—
Government grants		34,337		32,237			122,371		17,272
Fair value gain on quoted equity securities		12,768		—			1,118		158
Fair value gain on foreign exchange forward contract		—		4,529			—		—
Write-back of trade and other payables		29		—			10		1
Realised foreign exchange gain, net		22,624		5,306			3,604		509
Unrealised foreign exchange gain, net		8,319		(4,235	)		4,679		660
Others		10,129		9,235			16,394		2,314

		532,117		205,143			347,161		48,999

Summary of Other Operating Expenses

8.2	(b) Other operating expenses


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Fair value loss on quoted equity securities		—		3,433		—		—
Fair value loss on foreign exchange forward contract		—		—		5,529		780
Loss on disposal of property, plant and equipment		—		—		645		91
Others		22,719		9,030		2,501		353

		22,719		12,463		8,675		1,224

Summary of Finance Costs

8.3	Finance costs


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Bank term loans		53,888		71,513		76,721		10,828
Bills discounting		42,179		36,826		47,212		6,664
Bank charges		4,367		4,749		4,945		698
Interest on finance lease		5		—		—		—
Interest on lease liabilities (Note 19)		—		—		2,918		412

		100,439		113,088		131,796		18,602

Summary of Staff Costs

8.4	Staff costs


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Wages and salaries		1,158,320		1,176,465		1,122,712		158,461
Contribution to defined contribution plans		258,190		296,073		324,623		45,818
Executive bonuses		59,908		57,674		59,791		8,439
Staff welfare		76,392		76,689		82,692		11,671
Staff severance cost		107,732		28,018		15,454		2,181
Cost of share-based payment		1,592		—		—		—
Others		1,870		8,441		6,012		849

		1,664,004		1,643,360		1,611,284		227,419

Staff costs are included in the following captions:


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Cost of sales		850,580		822,570		808,763		114,150
Research and development expenses		197,991		213,826		243,049		34,304
Selling, general and administrative expenses		615,433		606,964		559,472		78,965

		1,664,004		1,643,360		1,611,284		227,419

Income tax expense (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Income Tax Expense

The major components of income tax expense for the years ended December 31, 2017, 2018 and 2019 are as follows:


	31.12.2017			31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			RMB’000			US$’000

Current income tax
- Current year		197,264			209,448			193,878			27,364
- Over provision in respect of prior years		(2,867	)		(729	)		(6,985	)		(986	)
Deferred tax
- Movement in temporary differences		(225	)		(2,052	)		(14,274	)		(2,014	)

Consolidated income tax expense reported in the statement of profit or loss		194,172			206,667			172,619			24,364

Reconciliation of Income Tax Expense


	31.12.2017			31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			RMB’000			US$’000

Accounting profit before tax		1,514,028			1,181,067			1,033,319			145,844
Computed tax expense at 15% (2018: 15%, 2017: 15%)		227,104			177,160			154,998			21,877
Adjustments resulting from:
Non-deductible expenses		21,982			5,146			3,982			562
Tax-exempt income		(58,324	)		(3,634	)		(6,171	)		(871	)
Utilization of deferred tax benefits previously not recognized		(16,687	)		(5,518	)		(5,076	)		(716	)
Deferred tax benefits not recognized		8,084			2,183			6,613			933
Tax credits for research and development expense		(34,428	)		(22,407	)		(31,863	)		(4,497	)
Tax rate differential		21,061			24,437			26,223			3,701
Over provision in respect of previous years current tax		(2,867	)		(729	)		(6,985	)		(986	)
Withholding tax expense		29,447			30,029			30,898			4,361
Others		(1,200	)		—			—			—

Total		194,172			206,667			172,619			24,364

Summary of Deferred Tax

Deferred tax relates to the following:


	Consolidated statement of financial position									Consolidated statement of profit or loss
	31.12.2018			31.12.2019			31.12.2019			31.12.2017			31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			US$’000			RMB’000			RMB’000			RMB’000			US$’000

Deferred tax liabilities
Accelerated tax depreciation		(27,554	)		(44,920	)		(6,340	)		(4,601	)		(12,432	)		(17,366	)		(2,451	)
Interest receivable		(2,252	)		(1,644	)		(232	)		679			(1,478	)		608			86
PRC withholding tax on dividend income (i)		(106,922	)		(106,922	)		(15,091	)		(29,031	)		(29,842	)		(30,721	)		(4,336	)

		(136,728	)		(153,486	)		(21,663	)		(32,953	)		(43,752	)		(47,479	)		(6,701	)

Deferred tax assets
Impairment of property, plant and equipment		15,943			6,648			938			9,443			3,624			(9,295	)		(1,312	)
Write-down of inventories		16,060			18,403			2,598			(3,716	)		(1,433	)		2,343			331
Allowance for doubtful account receivables		5,177			10,077			1,422			(1,964	)		(2,199	)		4,900			692
Accruals		204,554			250,662			35,379			18,778			(186	)		46,108			6,508
Deferred income		95,499			107,731			15,205			6,743			43,820			12,232			1,726
Others		23,974			29,439			4,155			3,894			2,178			5,465			770

		361,207			422,960			59,697			33,178			45,804			61,753			8,715

											225			2,052			14,274			2,014

Note:

(i)

The movement of PRC withholding tax on dividend income is as follows:


	31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			US$’000

At January 1		(100,572	)		(106,922	)		(15,091	)
Provision made to consolidated statement of profit or loss		(29,842	)		(30,721	)		(4,336	)
Utilization		23,492			30,721			4,336

December 31		(106,922	)		(106,922	)		(15,091	)

non-resident

Classification of the Group's Net Deferred Tax Assets

The following table represents the classification of the Group’s net deferred tax assets:


	31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			US$’000
Deferred tax assets		361,207			422,960			59,697
Deferred tax liabilities		(136,728	)		(153,486	)		(21,663	)

		224,479			269,474			38,034

Deferred Tax Assets That Have Not Been Recognized

Deferred tax assets have not been recognized in respect of the following items:


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000
Unutilized tax losses		396,232		414,226		55,925
Unutilized capital allowances and investment allowances		107,588		107,613		15,185
Other unrecognized temporary differences relating to asset impairment and deferred grants		222,868		215,296		31,456

		726,688		737,135		102,566

Earnings per share (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Earnings Per Share

The calculation of basic earnings per share is based on:


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Profit attributable to ordinary equity holders of the parent		888,809		695,266		604,914		85,378

Weighted average number of ordinary shares		40,764,569		40,858,290		40,858,290		40,858,290

Diluted earnings per share

The weighted average number of ordinary shares adjusted for the effect of unissued ordinary shares under the Share Option Scheme is determined as follows:


	31.12.2017		31.12.2018		31.12.2019
Weighted average number of shares issued, used in the calculation of basic earnings per share		40,764,569		40,858,290		40,858,290
Diluted effect of share options		—		—		—

Weighted average number of ordinary shares adjusted for effect of dilution		40,764,569		40,858,290		40,858,290

Property, plant and equipment (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Property, Plant and Equipment


	Freehold land RMB’000		Leasehold land, buildings and improvements RMB’000			Construction in progress RMB’000			Plant and machinery RMB’000			Office furniture, fittings and equipment RMB’000			Motor and transport vehicles RMB’000			Total RMB’000
Cost
At January 1, 2018		13,993		2,322,868			281,096			5,156,834			179,954			117,136			8,071,881
Additions		—		2,971			359,574			12,465			20,671			10,214			405,895
Disposals		—		(2,203	)		(2,258	)		(26,142	)		(4,510	)		(4,917	)		(40,030	)
Transfers		—		16,845			(167,900	)		151,055			—			—			—
Write-off		—		(185	)		(1,056	)		(55,709	)		(3,512	)		(4,843	)		(65,305	)
Translation difference		437		2,249			732			199			485			93			4,195

At December 31, 2018		14,430		2,342,545			470,188			5,238,702			193,088			117,683			8,376,636
Effects of adopting IFRS 16 (i)		—		—			—			—			(69	)		—			(69	)

At January 1, 2019		14,430		2,342,545			470,188			5,238,702			193,019			117,683			8,376,567
Additions		—		14,851			884,145			4,260			6,763			8,261			918,280
Disposals		—		(762	)		—			(15,468	)		(902	)		(12,035	)		(29,167	)
Transfers		—		45,412			(317,294	)		268,896			2,986			—			—
Write-off		—		(27,911	)		—			(211,589	)		(7,126	)		(1,442	)		(248,068	)
Translation difference		406		1,955			(4	)		221			414			34			3,026

At December 31, 2019		14,836		2,376,090			1,037,035			5,285,022			195,154			112,501			9,020,638


Accumulated depreciation and impairment
At January 1, 2018		484		691,450			1,055			3,358,712			121,526			74,636			4,247,863
Charge for the year		—		77,783			—			338,132			18,832			6,218			440,965	*
Disposals		—		(1,005	)		—			(26,471	)		(3,582	)		(4,555	)		(35,613	)
Write-off		—		(183	)		(1,055	)		(54,686	)		(3,512	)		(4,604	)		(64,040	)
Impairment loss		—		—			—			30,173			—			—			30,173
Translation difference		15		275			—			124			287			45			746

At December 31, 2018		499		768,320			—			3,645,984			133,551			71,740			4,620,094
Effects of adopting IFRS 16 (i)		—		—			—			—			(27	)		—			(27	)

At January 1, 2019		499		768,320			—			3,645,984			133,524			71,740			4,620,067
Charge for the year		—		105,818			—			311,402			25,324			10,675			453,219
Disposals		—		(284	)		—			(11,467	)		(547	)		(11,597	)		(23,895	)
Write-off		—		(25,376	)		—			(210,253	)		(6,883	)		(1,419	)		(243,931	)
Impairment loss		—		—			—			3,950			—			—			3,950
Translation difference		14		325			—			134			292			19			784

At December 31, 2019		513		848,803			—			3,739,750			151,710			69,418			4,810,194


Net book value
At December 31, 2018		13,931		1,574,225			470,188			1,592,718			59,537			45,943			3,756,542

At December 31, 2019		14,323		1,527,287			1,037,035			1,545,272			43,444			43,083			4,210,444

US$’000		2,021		215,563			146,368			218,102			6,132			6,081			594,267

Investment property (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Investment Property


	31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			US$’000

Cost
At January 1		32,944			33,972			4,795
Translation difference		1,028			968			137

At December 31		33,972			34,940			4,932


Accumulated depreciation
At January 1		25,510			27,207			3,840
Charge for the year		884			380			54
Translation difference		813			801			113

At December 31		27,207			28,388			4,007


Net carrying amount		6,765			6,552			925

Fair value		10,886			11,419			1,612

Consolidated statements of profit or loss:
Rental income from an investment property		437			375			53
Direct operating expenses (including repairs, maintenance and depreciation expense) arising from the rental generating property		(314	)		(294	)		(41	)

Summary of Fair Value Measurement of Investment Property

The following table shows information about fair value measurement of the investment property using significant unobservable inputs (Level 3):

Prepaid operating leases (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Prepaid Operating Leases


	31.12.2018
	RMB’000

Current		12,546
Non-current		354,546

Total		367,092


	31.12.2018
	RMB’000

Cost
At January 1 and December 31		529,577


Accumulated amortization
At January 1		149,761
Charge for the year		12,724

At December 31		162,485


Net carrying amount		367,092

Intangible assets (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Intangible Assets


	Technology Know-how		Development costs			Goodwill		Trademarks		Total
	RMB’000		RMB’000			RMB’000		RMB’000		RMB’000

Cost
At January 1, 2018		—		136,822			218,311		—		355,133
Addition – internally generated		—		195,879			—		—		195,879
Reclassification		136,822		(136,822	)		—		—		—

At December 31, 2018 and January 1, 2019		136,822		195,879			218,311		—		551,012
Addition		—		366,708			—		169,811		536,519

At December 31, 2019		136,822		562,587			218,311		169,811		1,087,531


Accumulated amortization and impairment
At January 1, 2018		—		126,700			5,675		—		132,375
Reclassification		126,700		(126,700	)		—		—		—

At December 31, 2018 and January 1, 2019		126,700		—			5,675		—		132,375
Amortization		1,012		—			—		—		1,012

At December 31, 2019		127,712		—			5,675		—		133,387


Net carrying amount
At December 31, 2018		10,122		195,879			212,636		—		418,637

At December 31, 2019		9,110		562,587			212,636		169,811		954,144

US$’000		1,286		79,404			30,012		23,967		134,669

Summary of carrying amount of goodwill allocated

Carrying amount of goodwill allocated to the cash-generating unit:


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000

Yuchai		212,636		212,636		30,012

Inventories (Tables)

12 Months Ended

Dec. 31, 2019

Analysis of Inventory Reserve Accounts

Summary of Inventories


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000
Raw materials		1,243,955		1,500,034		211,717
Work in progress		30,038		35,688		5,037
Finished goods		1,243,871		1,288,415		181,848

Total inventories at the lower of cost and net realizable value		2,517,864		2,824,137		398,602


	31.12.2017			31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			RMB’000			US$’000
Inventories recognized as an expense in cost of sales		11,021,960			11,471,988			13,167,181			1,858,433
Inclusive of the following charge/(credit):
- Inventories written down		17,492			25,194			31,810			4,490
- Reversal of write-down of inventories		(37,393	)		(33,662	)		(14,788	)		(2,087	)

Other assets (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Other Non Current Assets


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000
Current
Development properties (i)		20,267		17,721		2,501
Quoted equity securities (ii)		21,876		9,235		1,304
Derivative not designated as hedges – foreign exchange forward contract (iii)		4,529		—		—

		46,672		26,956		3,805

Note:

(i)

An impairment loss of RMB 3.0 million (US$0.4 million) on development properties (2018: RMB Nil) was charged to the consolidated statement of profit or loss under “Cost of sales”.

(ii)

(iii)

On September 19, 2018, Yuchai entered into a

non-deliverable

Trade and other receivables (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Trade and Other Receivables


	31.12.2018 RMB’000			31.12.2019 RMB’000			31.12.2019 US$’000
Trade receivables, gross		438,586			794,678			112,161
Less: Allowance for expected credit losses		(30,586	)		(57,611	)		(8,131	)

Net trade receivables		408,000			737,067			104,030
Bills receivable (i)		6,981,106			7,005,234			988,728

Total (Note 7.2, Note 36)		7,389,106			7,742,301			1,092,758

Amounts receivable:
- associates and joint ventures (trade)		174			609			86
- associates and joint ventures (non-trade)		56,405			11,185			1,579
- related parties (trade)		32,702			73,243			10,338
- related parties (non-trade)		2,156			2,092			295
Staff advances		5,513			7,133			1,007
Interest receivables		8,220			12,224			1,725
Bills receivable in transit		8,850			8,700			1,228
Refundable deposits		3,029			2,131			301
Others		23,456			49,218			6,946
Less: Impairment losses – other receivables (ii )		—			(5,243	)		(740	)

Other receivables carried at amortized cost (Note 36)		140,505			161,292			22,765
Tax recoverable		140,316			223,652			31,566
Prepayments		115,360			63,048			8,899

Net other receivables		396,181			447,992			63,230

Total trade and other receivables		7,785,287			8,190,293			1,155,988

Note:

(i)

As of December 31, 2019, there was no bills receivable pledged to secure bank facilities. As of December 31, 2018, bills receivable of RMB 558.6 million were pledged to secure bank facilities.

(ii)

Movement in the Allowance for Expected Credit Losses of Trade and Other Receivables

Movement in the allowance for expected credit losses of trade and other receivables is as follows:


	31.12.2018 RMB’000			31.12.2019 RMB’000			31.12.2019 US$’000

At January 1		43,775			30,586			4,316
(Credit)/debit to consolidated statement of profit or loss (under “selling, general and administrative expenses”)		(11,052	)		32,340			4,565
Written off		(2,137	)		(62	)		(9	)
Translation difference		—			(10	)		(1	)

At December 31 (Note 33)		30,586			62,854			8,871

Cash and cash equivalents (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Cash and Bank Balances


	31.12.2018 RMB’000		31.12.2019 RMB’000		31.12.2019 US$’000
Non-current
Long-term bank deposits (i)		70,000		50,000		7,057

Current
Cash and cash equivalents		5,559,890		5,753,268		812,024
Long-term bank deposits (i)		70,000		70,000		9,880
Short-term bank deposits (ii)		356,926		286,543		40,443
Restricted cash		71,706		231,107		32,619

		6,058,522		6,340,918		894,966

Cash and bank balances		6,128,522		6,390,918		902,023

Note:

(i)

In 2019, YMMC has placed new

two-year

As at December 31, 2019, the

two-year

time deposits placed in 2018 has remaining maturity period of less than 12 months. Accordingly, this balance has been classified to current assets in 2019.

(ii)

Summary of cash and cash equivalents

For the purpose of the statement of cash flows, cash and cash equivalents comprise the following at December 31:


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000

Cash at banks and on hand		5,110,520		5,205,605		734,726
Short-term bank deposits (i)		449,370		547,663		77,298

Cash and cash equivalents		5,559,890		5,753,268		812,024

Note:

(i)

Leases (Table)

12 Months Ended

Dec. 31, 2019

Summary of detailed information about carrying amounts of right-of-use assets recognized and the movements during the year

Set out below are the carrying amounts of

right-of-use

assets recognized and the movements during the year.


	Leasehold land RMB’000			Building and office space RMB’000			Office furniture, fittings and equipment RMB’000			Total RMB’000			Total US$’000

At January 1, 2019		—			—			—			—			—
Effect of adopting of IFRS 16 (i)		369,925			76,644			39			446,608			63,035

At January 1, 2019 (Restated)		369,925			76,644			39			446,608			63,035
Addition		—			11,473			—			11,473			1,619
Depreciation expenses		(14,347	)		(26,597	)		(14	)		(40,958	)		(5,781	)
Disposal		(1,771	)		—			—			(1,771	)		(250	)
Translation difference		—			36			(4	)		32			5

At December, 31, 2019		353,807			61,556			21			415,384			58,628

Note:

(i)

Summary of detailed information about carrying amounts of lease liabilities and the movements during the year

Set out below are the carrying amounts of lease liabilities and the movements during the year:


	2019			2019
	RMB’000			US$’000

At January 1		—			—
Effect of adopting of IFRS 16 (Note 2.4)		96,852			13,670

At January 1 (Restated)		96,852			13,670
Additions		11,473			1,619
Accretion of interest (Note 8.3)		2,918			412
Payments		(51,283	)		(7,238	)
Translation difference		47			6

At December 31		60,007			8,469

Current (Note 27)		28,633			4,041
Non-current (Note 27)		31,374			4,428

Total		60,007			8,469

The maturity analysis of lease liabilities is disclosed in Note 27.

Summary of detailed information about amounts recognized in profit of loss

The following are the amounts recognized in profit of loss:


	2019 RMB’000		2019 US$’000

Depreciation charge for right-of-use assets		40,958		5,781
Interest expenses on lease liabilities (Note 8.3)		2,918		412
Expenses relating to short-term leases (included in selling, general and administrative costs and research and development cost)		14,341		2,024

Total amount recognized in profit or loss		58,217		8,217

Summary of detailed information about Future minimum rental receivables under non-cancellable operating leases

Future minimum rental receivables under

non-cancellable

operating leases as at 31 December are as follows:


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000
Within 1 year
- related parties		1,248		1,787		252
- joint venture		2,308		2,691		380
- third parties		1,391		892		126
After 1 year but within 5 years
- related parties		1,030		660		93
- joint venture		9,087		10,526		1,486
- third parties		1,463		1,504		212
After than 5 years
- related parties		455		—		—
- joint venture		9,272		5,643		796
- third parties		—		889		125

		26,254		24,592		3,470

Issued capital (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Issued Capital

31.12.2018
thousands

31.12.2019
thousands

Issued capital

Authorized shares

Ordinary share of par value US$0.10 each

100,000

Number of

RMB’000

Ordinary shares issued and fully paid

At January 1, 2018, December 31, 2018 and December 31, 2019

40,858,290

2,081,138

US$’000

293,734

31.12.2018
RMB’000

31.12.2019
RMB’000

31.12.2019
US$’000

Special share issued and fully paid

One special share issued and fully paid at US$0.10 per share

Less than RMB 1 (US$1)

Dividends declared and paid (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Dividends Declared and Paid


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000

Declared and paid during the year
Dividends on ordinary shares:
Final dividend paid in 2019: US$0.85 per share (2018: US$0.73 per share)		197,353		238,758		33,699
Special dividend paid in 2019: US$ Nil per share (2018: US$1.48 per share)		400,106		—		—

		597,459		238,758		33,699

Dividend paid in cash		597,459		238,758		33,699

Reserves (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Statutory Reserves


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000

Statutory reserve
Statutory general reserve (i)
At January 1		275,320		276,698		39,053
Transfer from retained earnings		1,378		1,903		269

At December 31		276,698		278,601		39,322


General surplus reserve (ii)
At January 1 and December 31		25,706		25,706		3,628

Total		302,404		304,307		42,950


Capital reserves (iii)
At January 1 and December 31		30,704		30,704		4,334

Note:

(i)

(ii)

(iii)

Capital reserves pertain to a capital transaction in 2015.

Summary of Other Components of Equity


	31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			US$’000

Other components of equity
Foreign currency translation reserve (i)		(39,215	)		(36,091	)		(5,094	)
Performance shares reserve (ii)		19,758			19,758			2,789
Premium paid for acquisition of non-controlling interests		(11,541	)		(11,472	)		(1,619	)
Fair value reserve of financial assets at FVOCI (iii)		(79,948	)		(77,617	)		(10,955	)

Total		(110,946	)		(105,422	)		(14,879	)

Note:

(i)

(ii)

Performance shares reserve comprises the cumulative value of employee services received in return for share-based compensation. The amount in the reserve is retained when the option is expired.

(iii)

Fair value reserve of financial assets at FVOCI relates to the subsequent measurement of the Group’s bills receivable at fair value through OCI.

Share-based payment (Tables)

12 Months Ended

Dec. 31, 2019

Expense Recognized for Employee Services Received

The expense recognized for employee services received during the year is shown in the following table:


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000

Expense arising from equity-settled share-based payment transactions		1,592		—		—		—

Total expense arising from share-based payment transactions		1,592		—		—		—

Number and Weighted Average Exercise Prices ("WAEP") of, and Movements in Share Options

The following table illustrates the number and weighted average exercise prices (“WAEP”) of, and movements in share options during the year:


	Number of share options		WAEP		Number of share options		WAEP
	31.12.2018		31.12.2018		31.12.2019		31.12.2019

Outstanding at January 1 and December 31		470,000	US$	21.11		470,000	US$	21.11

Exercisable at December 31		470,000	US$	21.11		470,000	US$	21.11

Fair Value of Share Options and Assumptions


Date of grant of options		On July 29, 2014

Fair value at measurement date (US$)		5.70 – 6.74

Share price (US$)		21.11
Exercise price (US$)		21.11
Expected volatility (%)		47.4
Expected option life (years)		3.5 – 5.5
Expected dividends (%)		5.81
Risk-free interest rate (%)		1.4 – 2.0

Trade and other payables (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Trade and Other Current Payables


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000

Current
Trade payables		2,495,482		2,953,479		416,858
Bills payables (i)		2,065,147		2,764,013		390,116
Other payables		329,632		54 3 ,9 7 0		76, 777
Accrued expenses		168,235		203,133		28,671
Accrued staff costs		666,641		653,854		92,286
Refund liabilities		761,521		757,655		106,936
Dividend payable		43,133		47,480		6,701
Amount due to:
- associates and joint ventures (trade)		262,131		258,964		36,551
- associates and joint ventures (non-trade)		66		81		11
- related parties (trade)		145,747		22 1 ,4 1 3		31, 250
- related parties (non-trade)		32,034		4,016		567

Financial liabilities carried at amortized cost (Note 36)		6,969,769		8,408,058		1,186,724
Other tax payable		38,823		39,698		5,603

Trade and other payables with liquidity risk (Note 33)		7,008,592		8,447,756		1,192,327
Deferred grants (Note 29)		22,082		19,952		2,816
Advance from customers		369		383		55

Total trade and other payables (current)		7,031,043		8,468,091		1,195,198

(i)

Summary of Other Non-current Payables


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000

Non-current
Other payables (i) (Note 33, Note 36)		160,091		176,302		24,883

(i)

This relates to accrual for bonus that is not expected to be settled within next 12 months.

Provision (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Provision for Product Warranty


	Provision for warranty			Provision for onerous contract		Total			Total
	RMB’000			RMB’000		RMB’000			US$’000
At January 1, 2018		191,814			—		191,814			27,072
Provision made		224,582			—		224,582			31,698
Provision utilized		(249,483	)		—		(249,483	)		(35,212	)

At December 31, 2018 and January 1, 2019		166,913			—		166,913			23,558
Provision made		421,905			2,316		424,221			59,875
Provision utilized		(373,103	)		—		(373,103	)		(52,660	)

At December 31, 2019		215,715			2,316		218,031			30,773

Contract liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Contract Liabilities


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000

Unfulfilled maintenance services		191,728		181,139		25,566
Advance from customer		148,761		255,483		36,060

Total		340,489		436,622		61,626

Current		286,786		382,809		54,030
Non-current		53,703		53,813		7,596

Total contract liabilities (Note 7.2)		340,489		436,622		61,626

Lease liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Lease liabilities [abstract]

Summary of Lease Liabilities


	Effective interest rate		Maturity		31.12.2019		31.12.2019
	%				RMB’000		US$’000
Current (Note 19)		1.25% - 6.20%		2020		28,633		4,041

Non- current (Note 19)		1.25% - 6.20%		2021-2024		31,374		4,428

Other financial liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Other Financial Liabilities

(a)

Other liabilities


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000
Derivative not designated as hedges – foreign exchange forward contract		—		999		141
Finance lease liabilities		48		—		—

		48		999		141


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000
Current		14		999		141
Non-current		34		—		—

		48		999		141

Detailed information about in other lease payments


	31.12.2018
	Minimum lease payments		Present value of payments
	RMB’000		RMB’00

Not later than one year		14		14
Later than one year but not later than five years		34		34

Total minimum lease payments		48		48
Less: Amount representing finance charges		*		*

Present value of minimum lease payments		48		48

Less than RMB 1 thousand (US$1 thousand)

Summary of Loans and Borrowings


	Effective interest rate		Maturity		31.12.2018
	%				RMB’000

Current
Renminbi denominated loans		4.26		2019		1,500,000
US dollar denominated loans (ii)		3.48		2019		501,014

						2,001,014


Non-current
Singapore Dollar denominated loans (iii)		2.84		2020		15,078

Deferred grants (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Deferred Grants


	31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			US$’000

At January 1		353,647			607,608			85,758
Received during the year		282,388			187,096			26,407
Released to consolidated statement of profit or loss		(28,427	)		(117,976	)		(16,651	)

At December 31		607,608			676,728			95,514


Current (Note 24)		22,082			19,952			2,816
Non-current		585,526			656,776			92,698

		607,608			676,728			95,514

Related party disclosures (Tables)

12 Months Ended

Dec. 31, 2019

Significant Transactions with Related Parties

The following provides the significant transactions that have been entered into with related parties for the relevant financial year.


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000

Sales of engines and materials
- associates and joint ventures		412,591		439,106		912,877		128,845
- GY Group (including its subsidiaries and affiliates)		455,061		406,422		1 , 792 , 280		2 52 , 965
Purchase of material, supplies and engines
- associates and joint ventures		914,211		1,192,322		1,999,831		282,259
- GY Group (including its subsidiaries and affiliates)		1,221,421		1,589,638		1,895,239		267,496
Purchase of service
- a joint venture		2,543		—		—		—
Hospitality, restaurant, consultancy and other service income charged to
- a joint venture		14,241		3,456		3,984		562
- GY Group (including its subsidiaries and affiliates)		25,728		24,015		15,350		2,167
Rental income
- GY Group (including its subsidiaries and affiliates)		4,483		3,886		2,133		301
- a joint venture		—		1,937		3,206		452
Property management service expenses
- GY Group (including its subsidiaries and affiliates)		22,212		26,547		22,595		3,189
Leasing expenses (i)
- GY Group (including its subsidiaries and affiliates)		8,676		25,705		—		—
General and administrative expenses
- GY Group (including its subsidiaries and affiliates)		20,215		21,607		19,953		2,816
- HLA (including its affiliates)		6,913		6,639		6,788		958
Delivery, storage, distribution and handling expenses
- GY Group (including its subsidiaries and affiliates)		210,406		228,195		304,532		42,982
Payment for trademark s usage fee
- GY Group		—		—		169,811		23,967
Payment for lease liabilities
- GY Group (including its subsidiaries and affiliates)		—		—		33,594		4,741
Purchases of vehicles and machineries
- GY Group (including its subsidiaries and affiliates)		52,443		6,144		2,817		398
Purchases of additional shareholding in a subsidiary from
- GY Group (including its subsidiaries and affiliates) (ii)		1,335		—		—		—
Disposal of shareholding in an associate to
- GY Group (including its subsidiaries and affiliates) (iii)		1,833		—		—		—

Note:

(i)

(ii)

In June 2017, GYAMC acquired 25% of equity interest in Crankshaft from GY Group with a purchase consideration of RMB 1.3 million.

(iii)

In August 2017, YEMC disposed its 30% equity interest in Property Management to GY Group for a consideration of RMB 1.9 million.

Compensation of Key Management Personnel

Compensation of key management personnel of the Group


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Short-term employee benefits		40,831		39,703		41,606		5,872
Contribution to defined contribution plans		385		335		362		51
Cost of share-based payment		1,294		—		—		—

		42,510		40,038		41,968		5,923

Commitments and contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Future Minimum Lease Payments

The Group has various lease contracts that have not yet commenced as at December 31, 2019. The future lease payments these

non-cancellable

lease contracts are as follows:


	31.12.2019		31.12.2019
	RMB’000		US$’000
Within 1 year		105		15
After 1 year but within 5 years		85		12
After 5 years		—		—

		190		27

Segment information (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Segment Information


Year ended December 31, 2017	Yuchai			HLGE			Corporate			Eliminations/ adjustment			Consolidated financial statements
	RMB’000			RMB’000			RMB’000			RMB’000			RMB’000

Revenue
Total external revenue (Note 7.1)		16,140,622			57,197			—			—			16,197,819


Results
Interest income		94,760			1,803			11,833			(2,975	)		105,421
Interest expense		(94,794	)		(3,983	)		(270	)		2,975			(96,072	)
Gain on disposal of subsidiaries		—			216,115			—			—			216,115
Gain on disposal of joint venture		—			107,976			—			—			107,976
Impairment of property, plant and equipment		(20,845	)		—			—			—			(20,845	)
Impairment of technology development cost		(40,000	)		—			—			—			(40,000	)
Staff severance cost		(107,732	)		—			—			—			(107,732	)
Depreciation and amortization		(433,921	)		(9,990	)		(270	)		—			(444,181	)
Share of profit of associates and joint venture		9,255			799			—			—			10,054
Income tax expense		(164,578	)		(461	)		(102	)		(29,031	) (1)		(194,172	)

Segment profit after tax		1,004,019			322,160			22,708			(29,031	) (1)		1,319,856


Year ended December 31, 2018	Yuchai			HLGE			Corporate			Eliminations/ adjustment			Consolidated financial statements
	RMB’000			RMB’000			RMB’000			RMB’000			RMB’000

Revenue
Total external revenue (Note 7.1)		16,210,467			52,781			—			—			16,263,248


Results
Interest income		124,653			4,244			18,347			—			147,244
Interest expense		(107,609	)		(403	)		(327	)		—			(108,339	)
Impairment of property, plant and equipment		(30,173	)		—			—			—			(30,173	)
Staff severance cost		(28,018	)		—			—			—			(28,018	)
Depreciation and amortization		(428,199	)		(5,355	)		(331	)		—			(433,885	)
Share of profit of associates and joint venture		10,809			825			—			—			11,634
Income tax expense		(175,956	)		(820	)		(49	)		(29,842	) (1)		(206,667	)

Segment profit after tax		1,019,776			4,156			(19,690	)		(29,842	) (1)		974,400

Total assets		20,636,155			441,040			2,081,220			(1,500,451	)		21,657,964

Total liabilities		(10,318,492	)		(55,404	)		(29,592	)		(106,922	) (2)		(10,510,410	)

Other disclosures
Investment in joint ventures		220,176			2,636			—			—			222,812
Capital expenditure		403,179			2,643			73			—			405,895


Year ended December 31, 2019	Yuchai			HLGE			Corporate			Eliminations/ adjustment			Consolidated financial statements			Consolidated financial statements
	RMB’000			RMB’000			RMB’000			RMB’000			RMB’000			US$’000

Revenue
Total external revenue (Note 7.1)		17,980,304			35,781			—			—			18,016,085			2,542,813


Results
Interest income		158,855			5,167			13,239			—			177,261			25,019
Interest expense		(126,379	)		(51	)		(421	)		—			(126,851	)		(17,904	)
Impairment of property, plant and equipment		(3,950	)		—			—			—			(3,950	)		(558	)
Staff severance cost		(15,454	)		—			—			—			(15,454	)		(2,181	)
Depreciation and amortization		(458,665	)		(5,551	)		(993	)		—			(465,209	)		(65,661	)
Share of profit of associates and joint venture		18,137			897			—			—			19,034			2,686
Income tax expense		(141,330	)		(527	)		(41	)		(30,721	) (1)		(172,619	)		(24,364	)

Segment profit after tax		884,562			4,457			1,939			(30,258	) (1)		860,700			121,480

Total assets		22,817,479			416,397			2,120,767			(1,500,452	)		23,854,191			3,366,811

Total liabilities		(12,127,021	)		(15,575	)		(31,278	)		(106,932	) (2)		(12,280,806	)		(1,733,329	)

Other disclosures
Investment in joint ventures		271,274			2,717			—			—			273,991			38,671
Capital expenditure		917,192			1,033			55			—			918,280			129,607

Note:

(1)

This relates mainly to the deferred tax expense relating to withholding tax on dividends from Yuchai.

(2)

This relates mainly to the deferred tax liabilities relating to cumulative withholding tax on dividends that are expected to be declared from income earned after December 31, 2007 by Yuchai.

Summary of Geographic Information

Revenue from one customer group amounted to RMB 5,205.5 million (US$734.7 million) (2018: RMB 4,463.9 million; 2017: RMB 4,839.6 million), arising from sales by Yuchai segment.

Non-current

assets


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000

People’s Republic of China		4,665,990		5,764,591		813,622
Other countries		95,443		97,879		13,815

		4,761,433		5,862,470		827,437

Financial risk management objectives and policies (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Information about Credit Risk on Trade Receivables using Provision Matrix

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

Maturity Profile of Financial Assets and Liabilities Based on Contractual Undiscounted Payments

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

Exposures to Foreign Currency

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


	31.12.2018
	Singapore Dollar			Euro			US Dollar			Renminbi			Others
	RMB’000			RMB’000			RMB’000			RMB’000			RMB’000

Quoted equity securities		21,876			—			—			—			—
Trade and other receivables		693			25,827			12,149			675			—
Cash and bank balances		220,268			1,166			28,518			31,662			25
Financial liabilities		(15,126	)		—			(501,014	)		—			—
Trade and other payables		(13,952	)		(17,452	)		(7,060	)		(41,828	)		—

Net assets/(liabilities)		213,759			9,541			(467,407	)		(9,491	)		25


	31.12.2019
	Singapore Dollar			Euro			US Dollar			Renminbi			Others
	RMB’000			RMB’000			RMB’000			RMB’000			RMB’000

Quoted equity securities		9,235			—			—			—			—
Trade and other receivables		607			414			7,624			658			—
Cash and bank balances		228,589			52			11,233			2,595			7,364
Financial liabilities		(15,710	)		—			(139,524	)		—			—
Trade and other payables		(7,086	)		(27,922	)		(10,596	)		(2,605	)		(83	)

Net assets/(liabilities)		215,635			(27,456	)		(131,263	)		648			7,281

US$’000		30,435			(3,875	)		(18,527	)		91			1,028

Foreign currency risk [Member]

Risk Sensitivity Analysis


	Profit before tax
	31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			US$’000

Singapore Dollar		21,376			21,564			3,044
Euro		954			(2,746	)		(388	)
US Dollar		(46,741	)		(13,126	)		(1,853	)
Renminbi		(949	)		65			9

Equity price risk [member]

Risk Sensitivity Analysis

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


	31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		US$’000
Statement of profit or loss		2,188		924		130

Capital management (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Capital Structure


	31.12.2018			31.12.2019			31.12.2019
	RMB’000			RMB’000			US$’000

Loans and borrowings (current and non-current) (Note 28(b))		2,016,092			2,055,046			290,052
Lease liabilities (current and non-current) (Note 27)		—			60,007			8,469
Other liabilities (current and non-current) (Note 28(a))		48			—			—
Trade and other payables (current and non-current) (Note 24)		7,191,134			8,644,393			1,220,081
Less: Cash and bank balances (Note 18)		(6,128,522	)		(6,390,918	)		(902,023	)

Net debts		3,078,752			4,368,528			616,579
Equity attributable to equity holders of the parent		8,395,849			8,767,529			1,237,460

Total capital and net debts		11,474,601			13,136,057			1,854,039

Fair value measurement (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Measurement Hierarchy for Assets and Liabilities

Quantitative disclosures fair value measurement hierarchy for assets and liabilities as at December 31, 2018:

Fair value measurement using

Date of

valuation

Quoted

prices

active

markets

Significant

observable

inputs

Significant

unobservable

inputs

Total

(Level 1)

(Level 2)

(Level 3)

RMB’000

Assets measured at fair value

Quoted equity securities:

Quoted equity shares – TCL (Note 16)

December 31,

2018

21,876

—

Derivative financial assets:

Foreign exchange forward contract – USD

(i)

(Note 16)

December 31,

2018

4,529

—

4,529

—

Debt instruments

(ii)

Bills receivable (Note 17)

December 31,

2018

6,981,106

—

6,981,106

—

Quantitative disclosures fair value measurement hierarchy for assets and liabilities as at December 31, 2019:

Fair value measurement using

Date of

valuation

Quoted

prices

active

markets

Significant

observable

inputs

Significant

unobservable

inputs

Total

(Level 1)

(Level 2)

(Level 3)

US$’000

RMB’000

Assets measured at fair value

Quoted equity securities:

Quoted equity shares – TCL (Note 16)

December 31,

2019

1,304

9,235

—

Debt financial assets

(ii)

Bills receivable (Note 17)

December 31,

2019

988,728

7,005,234

—

7,005,234

—

Liabilities

measured at fair value

Derivative financial liabilities:

Foreign exchange forward contract – USD

(i)

(Note 28)

December 31,

2019

141

999

—

999

—

Note:

(i)

(ii)

The fair value of the Group’s debt financial assets is measured based on quoted market interest rates of similar instruments.

Financial assets and financial liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Financial Assets and Financial Liabilities


	Note		Financial assets at fair value through profit or loss		Financial assets at amortized costs		Fair Value through OCI		Other financial liabilities at amortized cost		Total
			RMB’000		RMB’000		RMB’000		RMB’000		RMB’000

As at December 31, 2018

Financial assets
Quoted equity securities		16		21,876		—		—		—		21,876
Derivative not designated as hedges – foreign exchange forward contract		16		4,529		—		—		—		4,529
Trade and bills receivable		17		—		408,000		6,981,106		—		7,389,106
Other receivables		17		—		140,505		—		—		140,505
Cash and bank balances		18		—		6,128,522		—		—		6,128,522

				26,405		6,677,027		6,981,106		—		13,684,538


Financial liabilities
Trade and other payables		24		—		—		—		7,129,860		7,129,860
Loans and borrowings		28(b)		—		—		—		2,016,092		2,016,092
Other liabilities		28(a)		—		—		—		48		48

				—		—		—		9,146,000		9,146,000


	Note	Financial assets at fair value through profit or loss		Financial assets at amortized costs		Fair Value through OCI		Other financial liabilities at amortized cost		Total		Total
		RMB’000		RMB’000		RMB’000		RMB’000		RMB’000		US$’000

As at December 31, 2019

Financial assets
Quoted equity securities	16		9,235		—		—		—		9,235		1,304
Trade and bills receivable	17		—		7 37 , 067		7,005,234		—		7,7 4 2, 301		1,09 2 , 758
Other receivables	17		—		1 61 , 292		—		—		1 61 , 292		2 2 , 765
Cash and bank balances	18		—		6,390,918		—		—		6,390,918		902,023

			9,235		7,289,277		7,005,234		—		14,303,746		2,018,850


Financial liabilities
Trade and other payables	24		—		—		—		8,584,360		8,584,360		1,211,607
Lease liabilities	27		—		—		—		60,007		60,007		8,469
Loans and borrowings	28(b)		—		—		—		2,055,046		2,055,046		290,052

			—		—		—		10,699,413		10,699,413		1,510,128

Schedule of Changes in Liabilities Arising From Financing Activities


	January 1, 2018		Cash flows			Foreign exchange movement			Translation reserve		Others			December 31, 2018
	RMB’000		RMB’000			RMB’000			RMB’000		RMB’000			RMB’000

As at December 31, 2018

Loans and borrowings
- current		1,600,000		400,320			694			—		—			2,001,014
- non-current		26,341		(11,756	)		(305	)		798		—			15,078
Obligations under finance leases
- current		33		(33	)		—			—		14			14
- non-current		46		—			—			2		(14	)		34

Total liabilities from financing activities		1,626,420		388,531			389			800		—			2,016,140


	January 1, 2019		Effect of adoption of IFRS 16			January 1, 2019 (Restated)		Cash flows			Addition		Accretion of interest		Foreign exchange movement			Translation reserve		Others			December 31, 2019		December 31, 2019
	RMB’000		RMB’000			RMB’000		RMB’000			RMB’000		RMB’000		RMB’000			RMB’000		RMB’000			RMB’000		US$’000

As at December 31, 2019

Loans and borrowings
- current		2,001,014		—			2,001,014		39,979			—		—		(1,469	)		444		15,078			2,055,046		290,052
- non-current		15,078		—			15,078		—			—		—		—			—		(15,078	)		—		—
Obligations under finance leases
- current		14		(14	)		—		—			—		—		—			—		—			—		—
- non-current		34		(34	)		—		—			—		—		—			—		—			—		—
Lease liabilities
- current		—		42,457			42,457		(51,283	)		6,008		2,918		—			24		28,509			28,633		4,041
- non-current		—		54,395			54,395		—			5,465		—		—			23		(28,509	)		31,374		4,428

Total liabilities from financing activities		2,016,140		96,804			2,112,944		(11,304	)		11,473		2,918		(1,469	)		491		—			2,115,053		298,521

Corporate Information - Additional Information (Detail)					1 Months Ended		12 Months Ended
Corporate Information - Additional Information (Detail)	Dec. 31, 2014 shares	Apr. 04, 2012	Jan. 16, 2012 shares	Jan. 13, 2012 shares	Dec. 31, 2013	Dec. 31, 2011	Dec. 31, 2019 Subsidiaries Associate JointVenture shares	Dec. 31, 2018 Associate	Dec. 31, 2015 shares
Disclosure of Corporate Information [Line Items]
Number of indirectly owned subsidiaries							33	32
Number of directly owned subsidiaries							9	9
Number of joint ventures							4	4
Number of associate \| Associate							1	1
HL Global Enterprises Limited [member]
Disclosure of Corporate Information [Line Items]
Ownership interest in subsidiary	50.20%	48.90%	48.10%		50.10%	49.40%	50.20%	50.20%	50.20%
Number of preference shares converted into ordinary shares				24,189,170
Percentage of unconverted preference shares transfer to trustee				100.00%
Conversion of convertible preference shares into ordinary shares			24,189,170
Number of shares purchased in open market	465,000
Number of ordinary shares exercise to consolidation									10
Number of ordinary shares exercised into consolidation									1
Number of ordinary shares held upon completion of consolidation exercise									47,107,707
Foreign Shares Of Yuchai [member]
Disclosure of Corporate Information [Line Items]
Number of wholly owned subsidiaries							6
Percentage of issued share capital held by group							76.41%
Number of shares owned by entity							361,420,150
Guangxi Yuchai Machinery Group Company Limited [member]
Disclosure of Corporate Information [Line Items]
Proportion of ownership interests held in parent							22.09%
Guangxi Yuchai Machinery Monopoly Development Company Limited [member]
Disclosure of Corporate Information [Line Items]
Number of wholly owned subsidiaries							29	28
Ownership interest in subsidiary							54.90%	54.90%
Guangxi Yuchai Accessories Manufacturing Company Limited [member]
Disclosure of Corporate Information [Line Items]
Number of wholly owned subsidiaries \| Subsidiaries							2
Ownership interest in subsidiary							76.40%	76.40%

Basis of Preparation and Accounting Policies - Additional Information (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥) Hours mi	Mar. 31, 2020 ¥ / $	Dec. 31, 2019 USD ($)	Jan. 01, 2019 CNY (¥)	Jan. 01, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Disclosure of Summary of Significant Accounting Policies [Line items]
Convenience translation exchange rate per US$1.00 \| ¥ / $		7.0851
Estimated useful lives of the investment properties	30 years
Right-of-use assets	¥ 415,384		$ 58,628
Lease liabilities	60,007		8,469	¥ 96,852	$ 13,670
Other liabilities	¥ 999		$ 141			¥ 48
IFRS 16 [member]
Disclosure of Summary of Significant Accounting Policies [Line items]
Prepaid operating leases				367,100	51,800
Trade and other receivables				1,800	300
Trade and other payables				19,100	2,700
Increase decrease due to application of IFRS 16 [Member] \| IFRS 16 [member]
Disclosure of Summary of Significant Accounting Policies [Line items]
Right-of-use assets				446,600	63,000
Finance lease assets recognized				40	10
Lease liabilities				96,900	13,700
Other liabilities				¥ 50	$ 10
Bottom of range [member]
Disclosure of Summary of Significant Accounting Policies [Line items]
Lease term	15 years
Bottom of range [member] \| On-Road Applications Engines [member]
Disclosure of Summary of Significant Accounting Policies [Line items]
Warranty claim period	12 months
Warranty mileage \| mi	50,000
Bottom of range [member] \| Other Applications Engines [member]
Disclosure of Summary of Significant Accounting Policies [Line items]
Warranty claim period	12 months
Product warranty running hours \| Hours	1,000
Top of range [member]
Disclosure of Summary of Significant Accounting Policies [Line items]
Lease term	50 years
Top of range [member] \| On-Road Applications Engines [member]
Disclosure of Summary of Significant Accounting Policies [Line items]
Warranty claim period	60 months
Warranty mileage \| mi	360,000
Top of range [member] \| Other Applications Engines [member]
Disclosure of Summary of Significant Accounting Policies [Line items]
Warranty claim period	28 months
Product warranty running hours \| Hours	3,500

Basis of Preparation and Accounting Policies - Estimated Useful Life of Assets (Detail)	12 Months Ended
	Dec. 31, 2019
Freehold buildings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful life of Property, plant and equipment	50 years
Leasehold land, buildings and improvements [member]
Disclosure of detailed information about property, plant and equipment [line items]
Description of estimated useful life of Property, plant and equipment	Shorter of 15 to 50 years or lease term
Bottom of range [member] \| Plant and machinery [member]
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful life of Property, plant and equipment	3 years
Bottom of range [member] \| Office furniture, fittings and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful life of Property, plant and equipment	3 years
Bottom of range [member] \| Motor and transport vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful life of Property, plant and equipment	3 years 6 months
Top of range [member] \| Plant and machinery [member]
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful life of Property, plant and equipment	20 years
Top of range [member] \| Office furniture, fittings and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful life of Property, plant and equipment	20 years
Top of range [member] \| Motor and transport vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Estimated useful life of Property, plant and equipment	15 years

Basis Of Preparation And Accounting Policies - Summary Of Policies Applied To The Group's Intangible Assets - (Detail)	12 Months Ended
	Dec. 31, 2019
Trademarks [member]
Disclosure of detailed information about intangible assets [line items]
Description of useful life, intangible assets other than goodwill	Indefinite
Amortisation method, intangible assets other than goodwill	No amortization
Description Of Intangible Asset Recognition	Acquired
Technology know how [member]
Disclosure of detailed information about intangible assets [line items]
Useful life measured as period of time, intangible assets other than goodwill	10 years
Amortisation method, intangible assets other than goodwill	Amortized on a straight-line basis over the period of the technology know-how
Description Of Intangible Asset Recognition	Internally generated
Development costs
Disclosure of detailed information about intangible assets [line items]
Description Of Intangible Asset Recognition	Internally generated

Basis of preparation and accounting policies - Disclosure of detailed information about right-of-use assets useful life (Detail)	12 Months Ended
	Dec. 31, 2019
Leasehold land [member]
Disclosure of right of use assets [line items]
Description of useful life right of use assets	Shorter of 3 years to 50 years
Building and office space [member] \| Bottom of range [member]
Disclosure of right of use assets [line items]
Useful life right of use assets	1 year
Building and office space [member] \| Top of range [member]
Disclosure of right of use assets [line items]
Useful life right of use assets	6 years
Office Furniture, Fittings and Equipment [member]
Disclosure of right of use assets [line items]
Useful life right of use assets	5 years

Basis of preparation and accounting policies - Disclosure of detailed information about the effect of adoption IFRS 16 (Detail) ¥ in Thousands, $ in Thousands			12 Months Ended
	Jan. 01, 2019 CNY (¥)	Jan. 01, 2019 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Assets
Prepaid operating leases	¥ (367,092)	$ (51,812)
Property, plant and equipment	(39)	(6)
Right-of-use assets	446,608	63,035
Trade and other receivables - Prepayment	(1,770)	(250)	¥ (514,163)	$ (72,570)	¥ (502,069)	¥ 81,121
Total assets	77,707	10,967
Current Liabilities
Lease liabilities	42,457	5,992
Other liabilities	(14)	(2)
Trade and other payables - Accruals	(19,097)	(2,695)	¥ 10	$ 1		¥ 29
Total current liabilities	23,346	3,295
Non-current Liabilities
Lease liabilities	54,395	7,677
Other liabilities	(34)	(5)
Total non- current liabilities	¥ 54,361	$ 7,672

Basis of preparation and accounting policies - Schedule of operating lease commitments reconciliation (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Jan. 01, 2019 CNY (¥)	Jan. 01, 2019 USD ($)
Assets
Operating lease commitments as at December 31, 2018			¥ 101,700	$ 14,354
Commitments relating to short-term leases			(2,140)	(302)
Revised rental			(13,878)	(1,959)
Adjusted operating lease commitments			¥ 85,682	$ 12,093
Weighted average incremental borrowing rate as at January 1, 2019			4.34%	4.34%
Discounted operating lease commitments as at January 1, 2019			¥ 79,477	$ 11,218
Prepayment adjusted to lease liabilities			(1,770)	(250)
Add:
Commitments relating to leases previously classified as finance leases			48	7
Accrual adjusted to lease liabilities			19,097	2,695
Lease liabilities as at January 1, 2019	¥ 60,007	$ 8,469	¥ 96,852	$ 13,670

Significant Accounting Judgments, Estimates and Assumptions - Additional Information (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2019 USD ($)
Disclosure of changes in accounting estimates [line items]
Carrying amounts of deferred tax assets	¥ 422,960		¥ 361,207	$ 59,697
Increase in profit if all unrecognized deferred tax asset were recognized	¥ 162,000	$ 22,900	160,000
Cash flows derived from forecasts period	ten years	ten years
Carrying amounts of inventory provision	¥ 108,700		¥ 93,600	$ 15,300

Investments in Subsidiaries - Details of Significant Subsidiaries of the Group (Detail)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Guangxi Yuchai Machinery Company Lmited [member]
Disclosure of subsidiaries [line items]
Place of incorporation	People’s Republic of China
Place of business	People’s Republic of China
Group's effective equity interest	76.40%	76.40%
Guangxi Yuchai Machinery Monopoly Development Company Limited [member]
Disclosure of subsidiaries [line items]
Place of incorporation	People’s Republic of China
Place of business	People’s Republic of China
Group's effective equity interest	54.90%	54.90%
Guangxi Yuchai Accessories Manufacturing Company Limited [member]
Disclosure of subsidiaries [line items]
Place of incorporation	People’s Republic of China
Place of business	People’s Republic of China
Group's effective equity interest	76.40%	76.40%
Guangxi Yuchai Equipment Mould Company Limited [member]
Disclosure of subsidiaries [line items]
Place of incorporation	People’s Republic of China
Place of business	People’s Republic of China
Group's effective equity interest	76.40%	76.40%
Guangxi Yulin Hotel Company Limited [member]
Disclosure of subsidiaries [line items]
Place of incorporation	People’s Republic of China
Place of business	People’s Republic of China
Group's effective equity interest	76.40%	76.40%
Jining Yuchai Engine Company Limited [member]
Disclosure of subsidiaries [line items]
Place of incorporation	People’s Republic of China
Place of business	People’s Republic of China
Group's effective equity interest	76.40%	76.40%
Yuchai Remanufacturing Services Suzhou Co Ltd [member]
Disclosure of subsidiaries [line items]
Place of incorporation	People’s Republic of China
Place of business	People’s Republic of China
Group's effective equity interest	76.40%	76.40%
HL Global Enterprises Limited [member]
Disclosure of subsidiaries [line items]
Place of incorporation	Singapore
Place of business	Singapore
Group's effective equity interest	50.20%	50.20%

Investments in Subsidiaries - Subsidiary having Non-controlling Interests that are Material to the Group (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)	Dec. 31, 2019 USD ($)
Disclosure of subsidiaries [line items]
Accumulated balances of material NCI	¥ 2,805,856		¥ 2,751,705		$ 396,022
Profit allocated to material NCI	¥ 255,786	$ 36,102	¥ 279,134	¥ 431,047
Guangxi Yuchai Machinery Company Lmited [member]
Disclosure of subsidiaries [line items]
Proportion of equity interest held by NCI	23.60%	23.60%	23.60%	23.60%
Accumulated balances of material NCI	¥ 2,603,227		¥ 2,556,644		$ 367,423
Profit allocated to material NCI	254,284	$ 35,890	252,394	¥ 270,452
Dividends paid to material NCI	¥ 207,514	$ 29,289	¥ 135,905	¥ 98,941

Investments in Subsidiaries - Summarized Financial Information Including Goodwill On Acquisition And Consolidation Adjustment But Before Intercompany Eliminations Of Subsidiaries With Material Non Controlling Interests (Details)) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2016 CNY (¥)
Summarized statement of financial position
Current assets	¥ 17,382,304		¥ 16,420,891		$ 2,453,361
Current liabilities	(11,209,055)		(9,559,250)		(1,582,061)
Non-current liabilities	(1,071,751)		(951,160)		(151,268)
Total equity	11,573,385		11,147,554	¥ 10,961,904	1,633,482	¥ 10,053,654
Attributable to NCI	2,805,856		2,751,705		396,022
Summarized statement of comprehensive income
Revenue	18,016,085	$ 2,542,813	16,263,248	16,197,819
Profit for the year	860,700	121,480	974,400	1,319,856
Total comprehensive income for the year	872,217	123,106	1,056,291	1,243,333
Attributable to NCI	261,848	36,958	292,356	416,224
Summarized statement of cash flows
Operating	1,583,016	223,431	670,601	1,420,167
Investing	(810,477)	(114,391)	(79,992)	76,570
Financing	(589,429)	(83,193)	(449,525)	280,862
Guangxi Yuchai Machinery Company Lmited [member]
Summarized statement of financial position
Current assets	16,444,627		15,498,171		2,321,015
Non-current assets, excluding goodwill	6,160,217		4,925,347		869,461
Goodwill	212,636		212,636		30,012
Current liabilities	(11,162,938)		(9,489,499)		(1,575,551)
Non-current liabilities	(964,084)		(828,993)		(136,072)
Net assets	10,690,458		10,317,662		1,508,865
Total equity	10,690,458		10,317,662		1,508,865
Attributable to NCI	2,603,227		2,556,644		$ 367,423
Summarized statement of comprehensive income
Revenue	17,980,304	2,537,763	16,210,467	16,140,621
Profit for the year	825,807	116,555	972,010	960,359
Total comprehensive income for the year	828,861	116,987	867,438	960,359
Attributable to NCI	254,284	35,890	252,394	270,452
Summarized statement of cash flows
Operating	1,632,557	230,421	701,716	1,435,156
Investing	(858,904)	(121,227)	(331,416)	(215,817)
Financing	(656,576)	(92,670)	(66,975)	221,660
Net increase in cash and cash equivalents	¥ 117,077	$ 16,524	¥ 303,325	¥ 1,440,999

Investments in Subsidiaries - Additional Information (Detail) ¥ in Thousands, $ in Thousands						1 Months Ended					12 Months Ended
	Feb. 28, 2019 CNY (¥)	Nov. 22, 2017 CNY (¥)	Dec. 31, 2014	Apr. 04, 2012	Jan. 16, 2012	Nov. 30, 2017 CNY (¥)	Oct. 31, 2017 CNY (¥)	Jun. 30, 2017 CNY (¥)	Dec. 31, 2013	Dec. 31, 2011	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)	Dec. 31, 2015	Dec. 31, 2019 USD ($)	Feb. 28, 2019 USD ($)
Disclosure of subsidiaries [line items]
Cash and cash equivalents subject to local exchange control regulations											¥ 5,112,800		¥ 5,015,200			$ 721,600
Additional investment in subsidiaries											¥ 114	$ 16		¥ 8,279
Bottom of range [member]
Disclosure of subsidiaries [line items]
Percent of shareholding in subsidiary	67.50%
Top of range [member]
Disclosure of subsidiaries [line items]
Percent of shareholding in subsidiary	75.00%
Guangxi Yuchai Machinery Monopoly Development Company Limited [member]
Disclosure of subsidiaries [line items]
Percent of shareholding in subsidiary											54.90%	54.90%	54.90%
Guangxi Yuchai Machinery Monopoly Development Company Limited [member] \| Hunan Yuchai Machinery Industry Company Limited [member]
Disclosure of subsidiaries [line items]
Acquisition of equity interest							49.00%
Additional investment in subsidiaries							¥ 6,700
Guangxi Yuchai Accessories Manufacturing Company Limited [member]
Disclosure of subsidiaries [line items]
Percent of shareholding in subsidiary											76.40%	76.40%	76.40%
Guangxi Yuchai Accessories Manufacturing Company Limited [member] \| Guangxi Yuchai Crankshaft Company Limited [member]
Disclosure of subsidiaries [line items]
Acquisition of equity interest								25.00%
Additional investment in subsidiaries								¥ 1,300
YC Europe Co [member]
Disclosure of subsidiaries [line items]
Percentage of equity interest acquired	7.50%																7.50%
Cash consideration	¥ 100																$ 100
Jining Yuchai Engine Company Limited [member] \| Yuchai [member]
Disclosure of subsidiaries [line items]
Acquisition of equity interest						100.00%
Additional investment in subsidiaries						¥ 300
Percentage of ownership control prior to acquisition						100.00%
HL Global Enterprises Limited [member]
Disclosure of subsidiaries [line items]
Percent of shareholding in subsidiary			50.20%	48.90%	48.10%				50.10%	49.40%	50.20%	50.20%	50.20%		50.20%
HL Global Enterprises Limited [member] \| Lkn Investment International Pte Ltd and Shanghai Hutai Real Estate Development Co [member]
Disclosure of subsidiaries [line items]
Cash consideration, disposal		¥ 395,000

Investments in Subsidiaries - Assets and Liabilities and Cash Flow Effect of Disposal of Subsidiaries (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017 CNY (¥)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Disclosure of subsidiaries [line items]
Property, plant and equipment (Note 11)		¥ 4,210,444	$ 594,267	¥ 3,756,542
Cash and bank balances		5,205,605	734,726	5,110,520
Total assets		23,854,191	3,366,811	21,657,964
Trade and other payables		(8,644,393)	(1,220,081)	(7,191,134)
Provision for taxation		(55,446)	(7,826)	(73,480)
Deferred taxation		¥ (153,486)	$ (21,663)	¥ (136,728)
Gain on disposal:
Gain on disposal of the subsidiaries (Note 8.2(a))	¥ 216,115
Net cash inflow on disposal of the subsidiaries	341,602
Lkn investment international pteltd lknii and lknii wholly owned subsidiary shanghai hutai real estate development co ltd [member]
Disclosure of subsidiaries [line items]
Property, plant and equipment (Note 11)	104,844
Trade receivables and other receivables	3,257
Cash and bank balances	9,153
Total assets	117,254
Trade and other payables	(3,737)
Provision for taxation	(44)
Deferred taxation	(588)
Net assets	112,885
Gain on disposal:
Total consideration	395,000
Less: Cost of disposal	(47,532)
Total consideration less cost of disposal	347,468
Net assets derecognized	(112,885)
Realization of foreign translation reserves upon disposal	(18,468)
Gain on disposal of the subsidiaries (Note 8.2(a))	216,115
Total consideration less cost of disposal	347,468
Add: Transaction cost unpaid	33,287
Less: Retention sum receivables	(30,000)
Cash and bank balances of the subsidiaries	(9,153)
Net cash inflow on disposal of the subsidiaries	¥ 341,602

Investment in Associates - Summarized Investment in Associates (Detail) - Associates [member] ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)	Dec. 31, 2019 USD ($)
Disclosure of associates [line items]
Share of loss of associates, net of tax	¥ 181	$ 26	¥ 59	¥ 28
Carrying amount of investment	¥ 1,955		¥ 2,130		$ 276

Investment in Associates - Details of Associates (Detail)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Sinjori Sdn Bhd [member]
Disclosure of associates [line items]
Principal activities	Property investment and development
Place of incorporation	Malaysia
Place of business	Malaysia
Group's effective equity interest	14.00%	14.00%
Guangxi Yuchai Quan Xing Machinery Company Ltd [member]
Disclosure of associates [line items]
Principal activities	Manufacture spare part and sales of auto spare part, diesel engine & spare part, metallic materials, generator & spare part, chemical products (exclude dangerous goods), lubricating oil
Place of incorporation	People's Republic of China
Place of business	People's Republic of China
Group's effective equity interest	15.30%	15.30%

Investment in Joint Ventures - Share of Results of Joint Ventures and Carrying Amount of Investment to Joint Ventures (Detail)
¥ in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2019

CNY (¥)

Dec. 31, 2019

USD ($)

Dec. 31, 2018

CNY (¥)

Dec. 31, 2017

CNY (¥)

Dec. 31, 2019

USD ($)

Share of (loss)/profit of joint ventures, net of tax

¥ 19,215

$ 2,712

¥ 11,693

¥ 10,082

Y & C Engine Co., Ltd. [Member]

273,991

222,812

$ 38,671

Share of (loss)/profit of joint ventures, net of tax

28,484

4,020

17,612

17,755

MTU Yuchai Power Co., Ltd [member]

176,082

155,681

24,852

Share of (loss)/profit of joint ventures, net of tax

594

(6,882)

(8,487)

Eberspaecher Yuchai Exhaust Technology Co., Ltd [member]

59,931

59,632

8,459

Share of (loss)/profit of joint ventures, net of tax

(9,366)

(1,322)

Other Joint Ventures [member]

^[1]

31,794

4,487

Share of (loss)/profit of joint ventures, net of tax

(497)

$ (70)

963

¥ 814

¥ 6,184

¥ 7,499

$ 873

[1]	Eberspaecher Yuchai was incorporated on December 5, 2018. In ___ 2019 & December 2019, the Group injected RMB 17.6 million (US$2.5 million) and RMB 23.5 million (US$3.3 million) respectively into Eberspaecher Yuchai as payment of its investment.

Investment in Joint Ventures - Share of Results of Joint Ventures and Carrying Amount of Investment to Joint Ventures (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019 CNY (¥)	Mar. 31, 2019 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2017 CNY (¥)
Disclosure of joint ventures [line items]
Additional investment in associates			¥ 41,160	$ 5,809	¥ 75,000
Eberspaecher Yuchai [member]
Disclosure of joint ventures [line items]
Additional investment in associates	¥ 17,600	$ 2,500	¥ 23,500	$ 3,300

Investment in Joint Ventures - Additional Information (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 CNY (¥)	Dec. 31, 2016 CNY (¥)
Disclosure of joint ventures [line items]
Share of capital commitment	¥ 81,000	$ 11,400	¥ 38,000
Cash and cash equivalents	5,753,268	812,024	5,559,890	$ 784,729	¥ 5,390,324	¥ 3,653,914
People's Republic of China [member]
Disclosure of joint ventures [line items]
Cash and cash equivalents	44,800	6,300	27,300
Y & C Engine Co., Ltd. [Member]
Disclosure of joint ventures [line items]
Cash and cash equivalents	164,942		113,061
Y & C Engine Co., Ltd. [Member] \| Outstanding bills receivables discounted with banks by retain recourse obligation [member]
Disclosure of joint ventures [line items]
Share of outstanding bills receivables	45,000	6,300	98,000
Y & C Engine Co., Ltd. [Member] \| Outstanding Bills Receivables Endorsed To Suppliers by Retain Recourse Obligation [Member]
Disclosure of joint ventures [line items]
Share of outstanding bills receivables	11,400	1,600	1,700
Joint ventures [member]
Disclosure of joint ventures [line items]
Cash and cash equivalents	228,774	32,289	134,768
Share of restricted cash	60,800	8,600	33,800
Bills receivables	50,800	7,200	0
Joint ventures [member] \| Letter Of Credit Facilities [member]
Disclosure of joint ventures [line items]
Share of restricted cash	¥ 0	$ 0	¥ 700

Investment in Joint Ventures - Interest in Joint Ventures (Detail)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
HL Heritage Sdn. Bhd. [Member]
Disclosure of joint ventures [line items]
Principal activities	Property development and property investment holdings
Place of incorporation	Malaysia
Percentage of interest held	30.10%	30.10%
Shanghai Hengshan Equatorial Hotel Management Co., Ltd. [member]
Disclosure of joint ventures [line items]
Principal activities	Hotel and property management
Place of incorporation	People's Republic of China
Percentage of interest held	24.60%	24.60%
Y & C Engine Co., Ltd. [Member]
Disclosure of joint ventures [line items]
Principal activities	Manufacture and sale of heavy duty diesel engines, spare parts and after-sales services
Place of incorporation	People's Republic of China
Percentage of interest held	34.40%	34.40%
Guangxi Yineng IOT Science & Technology Co., Ltd. [Member]
Disclosure of joint ventures [line items]
Principal activities	Design, development, management and marketing of an electronic operations management platform
Place of incorporation	People's Republic of China
Percentage of interest held	15.30%	15.30%
MTU Yuchai Power Co., Ltd [member]
Disclosure of joint ventures [line items]
Principal activities	Manufacture off-road diesel engines
Place of incorporation	People's Republic of China
Percentage of interest held	38.20%	38.20%
Eberspaecher Yuchai Exhaust Technology Co Ltd [member]
Disclosure of joint ventures [line items]
Principal activities	Application development, production, sales and service on engine exhaust control systems
Place of incorporation	People's Republic of China
Percentage of interest held	37.40%	37.40%

Investment in Joint Ventures - Summarized Financial Information of Joint Ventures and Reconciliation with Carrying Amount of Investment in Consolidated Financial Statements (Detail)
¥ in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2019

CNY (¥)

Dec. 31, 2019

USD ($)

Dec. 31, 2018

CNY (¥)

Dec. 31, 2017

CNY (¥)

Dec. 31, 2019

USD ($)

Dec. 31, 2018

USD ($)

Dec. 31, 2016

CNY (¥)

¥ 6,471,887

¥ 5,237,073

$ 913,450

5,753,268

5,559,890

¥ 5,390,324

812,024

$ 784,729

¥ 3,653,914

^[1]

26,956

46,672

3,805

23,854,191

21,657,964

3,366,811

(1,071,751)

(951,160)

(151,268)

(999)

(14)

(141)

(12,280,806)

(10,510,410)

(1,733,329)

11,573,385

11,147,554

10,961,904

1,633,482

¥ 10,053,654

273,991

222,812

38,671

18,016,085

$ 2,542,813

16,263,248

16,197,819

(465,209)

(65,661)

(433,885)

(444,181)

Profit/(loss) for the year, representing total comprehensive income for the year

(126,851)

(17,904)

(108,339)

(96,072)

872,217

123,106

1,056,291

1,243,333

Group's share of profit of other joint ventures, representing the Group's share of total comprehensive income of other joint ventures

19,215

$ 2,712

11,693

¥ 10,082

Y & C Engine Co., Ltd. [Member]

774,046

755,671

164,942

113,061

1,060,805

646,751

1,999,793

1,515,483

(84,154)

(46,603)

(51,534)

(1,396,116)

(942,306)

(1,480,270)

(1,040,443)

¥ 519,523

¥ 475,040

Group's share of net assets

45.00%

¥ 233,786

¥ 213,768

Unrealized profit on transactions with joint venture

(57,704)

(58,087)

176,082

155,681

24,852

2,404,244

1,443,238

¥ 1,331,823

(26,099)

(45,254)

(20,831)

Profit/(loss) for the year, representing total comprehensive income for the year

(29,606)

(24,605)

(28,663)

¥ 44,484

¥ 43,359

¥ 55,982

Group's share of profit/(loss)

45.00%

¥ 20,018

¥ 19,512

¥ 25,192

Unrealized profit on transactions with joint venture

8,466

(1,900)

Group's share of profit of other joint ventures, representing the Group's share of total comprehensive income of other joint ventures

28,484

$ 4,020

17,612

17,755

Y & C Engine Co., Ltd. [Member] | Significant Joint Ventures [member]

Unrealized profit on transactions with joint venture

176,082

155,681

(7,437)

Group's share of profit of other joint ventures, representing the Group's share of total comprehensive income of other joint ventures

28,484

17,612

17,755

Joint ventures [member]

876,409

828,013

123,697

228,774

134,768

32,289

1,290,257

855,773

182,109

2,395,440

1,818,554

338,095

(84,154)

(46,603)

(11,878)

(51,534)

(1,597,447)

(1,116,548)

(225,466)

(1,681,601)

(1,214,685)

(237,344)

713,839

603,869

100,751

273,991

222,812

38,671

2,586,549

365,069

1,603,818

1,331,823

(32,503)

(4,588)

(48,998)

(21,058)

Profit/(loss) for the year, representing total comprehensive income for the year

(34,623)

(4,887)

(26,294)

(29,006)

25,970

3,665

39,162

39,009

Group's share of profit of other joint ventures, representing the Group's share of total comprehensive income of other joint ventures

19,215

2,712

11,693

10,082

Joint ventures [member] | Significant Joint Ventures [member]

Group's share of profit of other joint ventures, representing the Group's share of total comprehensive income of other joint ventures

267,807

215,313

37,798

19,712

2,782

10,730

9,268

Joint ventures [member] | Other Joint Ventures [member]

Group's share of profit of other joint ventures, representing the Group's share of total comprehensive income of other joint ventures

6,184

7,499

873

(497)

$ (70)

963

¥ 814

MTU Yuchai Power Co., Ltd [member]

78,362

72,342

9,265

21,707

221,482

209,022

309,109

303,071

(179,680)

(174,242)

(179,680)

(174,242)

¥ 129,429

¥ 128,829

Group's share of net assets

50.00%

¥ 64,714

¥ 64,415

Unrealized profit on transactions with joint venture

(4,783)

59,931

59,632

$ 8,459

178,796

160,580

(6,379)

(3,744)

¥ (227)

Profit/(loss) for the year, representing total comprehensive income for the year

(5,017)

(1,689)

(343)

¥ 600

¥ (4,197)

¥ (16,973)

Group's share of profit/(loss)

50.00%

¥ 300

¥ (2,099)

¥ (8,487)

Unrealized profit on transactions with joint venture

294

(4,783)

Group's share of profit of other joint ventures, representing the Group's share of total comprehensive income of other joint ventures

594

$ 84

(6,882)

(8,487)

MTU Yuchai Power Co., Ltd [member] | Significant Joint Ventures [member]

Group's share of profit of other joint ventures, representing the Group's share of total comprehensive income of other joint ventures

59,931

59,632

594

¥ (6,882)

¥ (8,487)

Eberspaecher Yuchai [Member]

24,001

54,567

7,970

86,538

(21,651)

(21,651)

¥ 64,887

Group's share of net assets

49.00%

¥ 31,794

Unrealized profit on transactions with joint venture

31,794

31,794

3,509

Profit/(loss) for the year, representing total comprehensive income for the year

(25)

¥ (19,114)

Group's share of profit/(loss)

49.00%

¥ (9,366)

Group's share of profit of other joint ventures, representing the Group's share of total comprehensive income of other joint ventures

(9,366)

Eberspaecher Yuchai [Member] | Significant Joint Ventures [member]

Group's share of profit of other joint ventures, representing the Group's share of total comprehensive income of other joint ventures

31,794

¥ (9,366)

[1]

Revenue from Contracts with Customers - Summary of Contract Balances (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2018 USD ($)
Disclosure of contract assets liabilities [abstract]
Trade receivables (Note 17)	¥ 738,929	$ 104,293	¥ 408,000
Capitalized contract cost	136,457	19,260	44,434	$ 6,271
Contract liabilities (Note 26)	¥ 436,622	$ 61,626	¥ 340,489

Revenue from Contracts with Customers - Summary of Contract Balances (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2019
Disclosure of contract assets liabilities [abstract]
Contract performance obligations description	According to the business customary practice, the remaining performance obligations (unfulfilled maintenance service) at the year-end is expected to be satisfied within 1-3 years.

Revenue from contracts with customers - Schedule Of Revenue Recognized (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Disclosure of performance obligations [abstract]
Amounts include in contract liabilities at the beginning of the year	¥ 72,321	$ 10,207	¥ 55,604

Revenue from contracts with customers - Schedule Of Contract Cost Capitalized (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Contract assets [abstract]
Contract assets	¥ 44,434	$ 6,271
Additions To Contract Assets	93,549	13,204	¥ 44,434
Utilization Of Contract Assets	(1,526)	(215)
Contract assets	¥ 136,457	$ 19,260	¥ 44,434

Revenue from contracts with customers - Performance Obligations (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Within one year [member]
Disclosure of transaction price allocated to remaining performance obligations [line items]
Performance Obligations	¥ 127,326	$ 17,971	¥ 138,025
More than one year [member]
Disclosure of transaction price allocated to remaining performance obligations [line items]
Performance Obligations	¥ 53,813	$ 7,595	¥ 53,703

Other Income and Expenses Recognized in Statement of Profit and Loss - Summary of Depreciation and Amortization (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Disclosure of income statement [line items]
Amortization of intangible assets	¥ 1,012	$ 143
Amortization of prepaid operating lease			¥ 12,724	¥ 12,366
Depreciation of investment property	380	54	884	248
Depreciation of property, plant and equipment	422,859	59,683	420,277	431,567
Depreciation of right-of-use assets	40,958	5,781
Depreciation and amortization expenses	465,209	65,661	433,885	444,181
Cost of sales [member]
Disclosure of income statement [line items]
Depreciation and amortization expenses	315,445	44,523	312,769	307,102
Research and development expenses [Member]
Disclosure of income statement [line items]
Depreciation and amortization expenses	16,470	2,325	26,751	48,291
Selling general and administrative expenses [member]
Disclosure of income statement [line items]
Depreciation and amortization expenses	¥ 133,294	$ 18,813	¥ 94,365	¥ 88,788

Other Income and Expenses Recognized in Statement of Profit and Loss - Summary of Sales Related Shipping and Handling Expenses Not Separately Billed to Customers (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Selling general and administrative expenses [member]
Disclosure of income statement [line items]
Selling, general and administrative expenses	¥ 221,255	$ 31,228	¥ 211,971	¥ 208,197

Other Income and Expenses Recognized in Statement of Profit and Loss - Summary of Other Operating Income (Detail)
¥ in Thousands, $ in Thousands

12 Months Ended

Jan. 01, 2019

CNY (¥)

Jan. 01, 2019

USD ($)

Dec. 31, 2019

CNY (¥)

Dec. 31, 2019

USD ($)

Dec. 31, 2018

CNY (¥)

Dec. 31, 2017

CNY (¥)

Disclosure Of Information On Income Statement [line items]

Dividend income from quoted equity securities

¥ 177,261

$ 25,019

¥ 147,244

¥ 105,421

959

135

1,992

2,532

Gain on disposal of associate

199

Gain on disposal of joint venture

^[1]

107,976

Gain on disposal of property, plant and equipment

8,835

11,668

Gain on disposal of quoted equity securities

11,528

1,627

Gain on disposal of right-of-use assets

9,237

1,304

Gain on disposal of subsidiaries

216,115

Government grants

122,371

17,272

32,237

34,337

Fair value gain on quoted equity securities

1,118

158

12,768

Fair value gain on foreign exchange forward contract

4,529

Write-back of trade and other payables

¥ (19,097)

$ (2,695)

Realised foreign exchange gain, net

3,604

509

5,306

22,624

Unrealised foreign exchange gain, net

4,679

660

(4,235)

8,319

Disclosure of deferred tax assets and liabilities [Line Items]

16,394

2,314

9,235

10,129

Other operating income

¥ 347,161

$ 48,999

¥ 205,143

¥ 532,117

[1]	On October 19, 2017, the Group completed the disposal of its joint venture investment in Copthorne Qingdao and recognized gain on disposal in the Group’s profit or loss for the year ended December 31, 2017.

Other Income and Expenses Recognized in Statement of Profit and Loss - Summary of Other Operating Expenses (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Profit or loss [abstract]
Fair value loss on quoted equity securities			¥ 3,433
Fair value loss on foreign exchange forward contract	¥ 5,529	$ 780
Loss on disposal of property, plant and equipment	645	91
Others	2,501	353	9,030	¥ 22,719
Other operating expenses	¥ 8,675	$ 1,224	¥ 12,463	¥ 22,719

Other Income and Expenses Recognized in Statement of Profit and Loss - Summary of Finance Costs (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Profit or loss [abstract]
Bank term loans	¥ 76,721	$ 10,828	¥ 71,513	¥ 53,888
Bills discounting	47,212	6,664	36,826	42,179
Bank charges	4,945	698	4,749	4,367
Interest on finance lease				5
Interest on lease liabilities (Note 19)	2,918	412
Finance costs	¥ 131,796	$ 18,602	¥ 113,088	¥ 100,439

Other Income and Expenses Recognized in Statement of Profit and Loss - Summary of Staff Costs (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Disclosure of income statement [line items]
Wages and salaries	¥ 1,122,712	$ 158,461	¥ 1,176,465	¥ 1,158,320
Contribution to defined contribution plans	324,623	45,818	296,073	258,190
Executive bonuses	59,791	8,439	57,674	59,908
Staff welfare	82,692	11,671	76,689	76,392
Staff severance cost	15,454	2,181	28,018	107,732
Cost of share-based payment				1,592
Others	6,012	849	8,441	1,870
Staff costs	1,611,284	227,419	1,643,360	1,664,004
Cost of sales [member]
Disclosure of income statement [line items]
Staff costs	808,763	114,150	822,570	850,580
Research and development expenses [Member]
Disclosure of income statement [line items]
Staff costs	243,049	34,304	213,826	197,991
Selling general and administrative expenses [member]
Disclosure of income statement [line items]
Staff costs	¥ 559,472	$ 78,965	¥ 606,964	¥ 615,433

Income Tax Expense - Summary of Income Tax Expense (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Current income tax
Current year	¥ 193,878	$ 27,364	¥ 209,448	¥ 197,264
Over provision in respect of prior years	(6,985)	(986)	(729)	(2,867)
Deferred tax
Movement in temporary differences	(14,274)	(2,014)	(2,052)	(225)
Consolidated income tax expense reported in the statement of profit or loss	¥ 172,619	$ 24,364	¥ 206,667	¥ 194,172

- Definition

The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax. [Refer: Current tax expense (income); Deferred tax expense (income)]

+ References + Details

Income Tax Expense - Additional Information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017	Dec. 31, 2019 USD ($)
Statement [line items]
Applicable income tax rate	15.00%	15.00%	15.00%
Percentage of withholding tax	10.00%
Deferred tax liability for withholding tax payable	¥ 106.9	¥ 106.9		$ 15.1
Unrecognized deferred tax liability relating to undistributed earnings	¥ 253.5	¥ 249.2		$ 35.8
PRC [member]
Statement [line items]
Unrecognized tax losses expiration period for subsidiaries that have a history of losses	5 years
Malaysia [member]
Statement [line items]
Unrecognized tax losses expiration period for subsidiaries that have a history of losses	7 years

Income Tax Expense - Reconciliation of Income Tax Expense (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Reconciliation of accounting profit multiplied by applicable tax rates [abstract]
Accounting profit before tax	¥ 1,033,319	$ 145,844	¥ 1,181,067	¥ 1,514,028
Computed tax expense at 15% (2018: 15%, 2017: 15%)	154,998	21,877	177,160	227,104
Adjustments resulting from:
Non-deductible expenses	3,982	562	5,146	21,982
Tax-exempt income	(6,171)	(871)	(3,634)	(58,324)
Utilization of deferred tax benefits previously not recognized	(5,076)	(716)	(5,518)	(16,687)
Deferred tax benefits not recognized	6,613	933	2,183	8,084
Tax credits for research and development expense	(31,863)	(4,497)	(22,407)	(34,428)
Tax rate differential	26,223	3,701	24,437	21,061
Over provision in respect of previous years current tax	(6,985)	(986)	(729)	(2,867)
Withholding tax expense	30,898	4,361	30,029	29,447
Others				(1,200)
Consolidated income tax expense reported in the statement of profit or loss	¥ 172,619	$ 24,364	¥ 206,667	¥ 194,172

Income Tax Expense - Reconciliation of Income Tax Expense (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of accounting profit multiplied by applicable tax rates [abstract]
Applicable income tax rate	15.00%	15.00%	15.00%

Income Tax Expense - Summary of Deferred Tax (Detail)
¥ in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2019

CNY (¥)

Dec. 31, 2019

USD ($)

Dec. 31, 2018

CNY (¥)

Dec. 31, 2017

CNY (¥)

Dec. 31, 2019

USD ($)

¥ (153,486)

¥ (136,728)

$ (21,663)

422,960

361,207

59,697

Accelerated depreciation [Member]

14,274

$ 2,014

2,052

¥ 225

Disclosure of deferred tax assets and liabilities [Line Items]

(44,920)

(27,554)

(6,340)

Interest receivable [Member]

(17,366)

(2,451)

(12,432)

(4,601)

Disclosure of deferred tax assets and liabilities [Line Items]

(1,644)

(2,252)

(232)

PRC withholding tax on dividend income [Member]

608

(1,478)

679

Disclosure of deferred tax assets and liabilities [Line Items]

^[1]

(106,922)

(15,091)

Deferred income tax liabilities [member]

^[1]

(30,721)

(4,336)

(29,842)

(29,031)

Disclosure of deferred tax assets and liabilities [Line Items]

Impairment of property, plant and equipment [Member]

(47,479)

(6,701)

(43,752)

(32,953)

Disclosure of deferred tax assets and liabilities [Line Items]

6,648

15,943

938

Write-down of inventories [member]

(9,295)

(1,312)

3,624

9,443

Disclosure of deferred tax assets and liabilities [Line Items]

18,403

16,060

2,598

Allowance for doubtful account receivables [Member]

2,343

331

(1,433)

(3,716)

Disclosure of deferred tax assets and liabilities [Line Items]

10,077

5,177

1,422

Disclosure of deferred tax assets and liabilities [Line Items]

4,900

692

(2,199)

(1,964)

Accruals [member]

250,662

204,554

35,379

Disclosure of deferred tax assets and liabilities [Line Items]

46,108

6,508

(186)

18,778

Deferred income [Member]

107,731

95,499

15,205

Disclosure of deferred tax assets and liabilities [Line Items]

12,232

1,726

43,820

6,743

Others [Member]

29,439

23,974

4,155

Deferred Tax Asset [member]

5,465

770

2,178

3,894

Disclosure of deferred tax assets and liabilities [Line Items]

422,960

361,207

$ 59,697

Miscellaneous current assets [abstract]

¥ 61,753

$ 8,715

¥ 45,804

¥ 33,178

[1]	The movement of PRC withholding tax on dividend income is as follows:

Income Tax Expense - Summary of Deferred Tax (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Disclosure of deferred tax assets and liabilities [Line Items]
Beginning balance	¥ 224,479
Ending balance	269,474	$ 38,034	¥ 224,479
PRC withholding tax on dividend income [Member]
Disclosure of deferred tax assets and liabilities [Line Items]
Beginning balance	(106,922)	(15,091)	(100,572)
Provision made to consolidated statement of profit or loss	(30,721)	(4,336)	(29,842)
Utilization	30,721	4,336	23,492
Ending balance	¥ (106,922)	$ (15,091)	¥ (106,922)

Income Tax Expense - Classification of the Group's Net Deferred Tax Assets (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Deferred tax assets and liabilities [abstract]
Deferred tax assets	¥ 422,960	$ 59,697	¥ 361,207
Deferred tax liabilities	(153,486)	(21,663)	(136,728)
Net deferred tax assets	¥ 269,474	$ 38,034	¥ 224,479

Income Tax Expense - Deferred Tax Assets That Have Not Been Recognized (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract]
Unutilized tax losses	¥ 414,226	$ 55,925	¥ 396,232
Unutilized capital allowances and investment allowances	107,613	15,185	107,588
Other unrecognized temporary differences relating to asset impairment and deferred grants	215,296	31,456	222,868
Deferred tax assets have not been recognised	¥ 737,135	$ 102,566	¥ 726,688

Earnings Per Share - Summary of Earnings Per Share (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥) shares	Dec. 31, 2019 USD ($) shares	Dec. 31, 2018 CNY (¥) shares	Dec. 31, 2017 CNY (¥) shares
Earnings per share [abstract]
Profit attributable to ordinary equity holders of the parent	¥ 604,914	$ 85,378	¥ 695,266	¥ 888,809
Weighted average number of ordinary shares	40,858,290	40,858,290	40,858,290	40,764,569
Weighted average number of ordinary shares adjusted for effect of dilution	40,858,290	40,858,290	40,858,290	40,764,569

Earnings Per Share - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings per share [abstract]
Number of employee share option, anti-dilutive	470,000	470,000	470,000

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	¥ 3,756,542
Charge for the year	422,859	$ 59,683	¥ 420,277	¥ 431,567
Impairment loss	3,950	558	30,173	20,845
Ending balance	4,210,444	594,267	3,756,542
Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	8,376,636		8,071,881
Additions	918,280		405,895
Disposals	(29,167)		(40,030)
Transfers	0
Write-off	(248,068)		(65,305)
Translation difference	3,026		4,195
Ending balance	9,020,638		8,376,636	8,071,881
Cost [member] \| Increase (decrease) due to changes in accounting policy [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	8,376,567
Effects of adopting IFRS 16	(69)
Ending balance			8,376,567
Accumulated depreciation, amortization and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	4,620,094		4,247,863
Charge for the year	453,219		440,965
Disposals	(23,895)		(35,613)
Write-off	(243,931)		(64,040)
Impairment loss	3,950		30,173
Translation difference	784		746
Ending balance	4,810,194		4,620,094	4,247,863
Accumulated depreciation, amortization and impairment [member] \| Increase (decrease) due to changes in accounting policy [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	4,620,067
Effects of adopting IFRS 16	(27)
Ending balance			4,620,067
Freehold land [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	13,931
Ending balance	14,323	2,021	13,931
Freehold land [member] \| Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	14,430		13,993
Additions	0
Disposals	0
Transfers	0
Write-off	0
Translation difference	406		437
Ending balance	14,836		14,430	13,993
Freehold land [member] \| Cost [member] \| Increase (decrease) due to changes in accounting policy [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	14,430
Ending balance			14,430
Freehold land [member] \| Accumulated depreciation, amortization and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	499		484
Translation difference	14		15
Ending balance	513		499	484
Freehold land [member] \| Accumulated depreciation, amortization and impairment [member] \| Increase (decrease) due to changes in accounting policy [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	499
Ending balance			499
Leasehold land, buildings and improvements [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	1,574,225
Ending balance	1,527,287	215,563	1,574,225
Leasehold land, buildings and improvements [member] \| Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	2,342,545		2,322,868
Additions	14,851		2,971
Disposals	(762)		(2,203)
Transfers	45,412		16,845
Write-off	(27,911)		(185)
Translation difference	1,955		2,249
Ending balance	2,376,090		2,342,545	2,322,868
Leasehold land, buildings and improvements [member] \| Cost [member] \| Increase (decrease) due to changes in accounting policy [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	2,342,545
Ending balance			2,342,545
Leasehold land, buildings and improvements [member] \| Accumulated depreciation, amortization and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	768,320		691,450
Charge for the year	105,818		77,783
Disposals	(284)		(1,005)
Write-off	(25,376)		(183)
Translation difference	325		275
Ending balance	848,803		768,320	691,450
Leasehold land, buildings and improvements [member] \| Accumulated depreciation, amortization and impairment [member] \| Increase (decrease) due to changes in accounting policy [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	768,320
Ending balance			768,320
Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	470,188
Ending balance	1,037,035	146,368	470,188
Construction in progress [member] \| Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	470,188		281,096
Additions	884,145		359,574
Disposals	0		(2,258)
Transfers	(317,294)		(167,900)
Write-off	0		(1,056)
Translation difference	(4)		732
Ending balance	1,037,035		470,188	281,096
Construction in progress [member] \| Cost [member] \| Increase (decrease) due to changes in accounting policy [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	470,188
Ending balance			470,188
Construction in progress [member] \| Accumulated depreciation, amortization and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance			1,055
Write-off			(1,055)
Ending balance				1,055
Plant and machinery [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	1,592,718
Ending balance	1,545,272	218,102	1,592,718
Plant and machinery [member] \| Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	5,238,702		5,156,834
Additions	4,260		12,465
Disposals	(15,468)		(26,142)
Transfers	268,896		151,055
Write-off	(211,589)		(55,709)
Translation difference	221		199
Ending balance	5,285,022		5,238,702	5,156,834
Plant and machinery [member] \| Cost [member] \| Increase (decrease) due to changes in accounting policy [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	5,238,702
Ending balance			5,238,702
Plant and machinery [member] \| Accumulated depreciation, amortization and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	3,645,984		3,358,712
Charge for the year	311,402		338,132
Disposals	(11,467)		(26,471)
Write-off	(210,253)		(54,686)
Impairment loss	3,950		30,173
Translation difference	134		124
Ending balance	3,739,750		3,645,984	3,358,712
Plant and machinery [member] \| Accumulated depreciation, amortization and impairment [member] \| Increase (decrease) due to changes in accounting policy [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	3,645,984
Ending balance			3,645,984
Office furniture, fittings and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	59,537
Ending balance	43,444	6,132	59,537
Office furniture, fittings and equipment [member] \| Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	193,088		179,954
Additions	6,763		20,671
Disposals	(902)		(4,510)
Transfers	2,986
Write-off	(7,126)		(3,512)
Translation difference	414		485
Ending balance	195,154		193,088	179,954
Office furniture, fittings and equipment [member] \| Cost [member] \| Increase (decrease) due to changes in accounting policy [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	193,019
Effects of adopting IFRS 16	(69)
Ending balance			193,019
Office furniture, fittings and equipment [member] \| Accumulated depreciation, amortization and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	133,551		121,526
Charge for the year	25,324		18,832
Disposals	(547)		(3,582)
Write-off	(6,883)		(3,512)
Translation difference	292		287
Ending balance	151,710		133,551	121,526
Office furniture, fittings and equipment [member] \| Accumulated depreciation, amortization and impairment [member] \| Increase (decrease) due to changes in accounting policy [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	133,524
Effects of adopting IFRS 16	(27)
Ending balance			133,524
Motor and transport vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	45,943
Ending balance	43,083	$ 6,081	45,943
Motor and transport vehicles [member] \| Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	117,683		117,136
Additions	8,261		10,214
Disposals	(12,035)		(4,917)
Transfers	0
Write-off	(1,442)		(4,843)
Translation difference	34		93
Ending balance	112,501		117,683	117,136
Motor and transport vehicles [member] \| Cost [member] \| Increase (decrease) due to changes in accounting policy [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	117,683
Ending balance			117,683
Motor and transport vehicles [member] \| Accumulated depreciation, amortization and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	71,740		74,636
Charge for the year	10,675		6,218
Disposals	(11,597)		(4,555)
Write-off	(1,419)		(4,604)
Translation difference	19		45
Ending balance	69,418		71,740	¥ 74,636
Motor and transport vehicles [member] \| Accumulated depreciation, amortization and impairment [member] \| Increase (decrease) due to changes in accounting policy [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	¥ 71,740
Ending balance			¥ 71,740

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Parenthetical) (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Disclosure of detailed information about property, plant and equipment [abstract]
Depreciation capitalized as intangible assets	¥ 21.6	$ 3.0	¥ 15.3
Depreciation capitalized as contract assets	¥ 8.8	$ 1.2	¥ 5.4

Property, Plant and Equipment - Additional Information (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Disclosure of detailed information about property, plant and equipment [abstract]
Impairment loss	¥ 3,950	$ 558	¥ 30,173	¥ 20,845
Property, plant and equipment piedged to secure bank facilities	¥ 0		0
Carrying value of property, plant and equipment held under finance leases			¥ 100

Investment Property - Summary of Investment Property (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Disclosure of detailed information about investment property [line items]
Beginning balance	¥ 6,765
Charge for the year	380	$ 54	¥ 884	¥ 248
Ending balance	6,552	925	6,765
Consolidated statements of profit or loss:
Rental income from an investment property	375	53	437
Direct operating expenses (including repairs, maintenance and depreciation expense) arising from the rental generating property	(294)	(41)	(314)
Fair value [member]
Disclosure of detailed information about investment property [line items]
Beginning balance	10,886
Ending balance	11,419	1,612	10,886
Cost [member]
Disclosure of detailed information about investment property [line items]
Beginning balance	33,972	4,795	32,944
Translation difference	968	137	1,028
Ending balance	34,940	4,932	33,972	32,944
Accumulated depreciation, amortization and impairment [member]
Disclosure of detailed information about investment property [line items]
Beginning balance	27,207	3,840	25,510
Charge for the year	380	54	884
Translation difference	801	113	813
Ending balance	¥ 28,388	$ 4,007	¥ 27,207	¥ 25,510

Investment Property - Summary of Fair Value Measurement of Investment Property (Detail) - Market comparison and cost method [member]	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items]
Valuation techniques	Market comparison and cost method	Market comparison and cost method
Unobservable input	Comparable price:-RMB 166 to RMB 440 (US$23 to US$62) per square foot	Comparable price:-RMB 156 to RMB 428 per square foot
Inter-relationship between key unobservable inputs and fair value measurement	The estimated fair value increases with higher comparable price	The estimated fair value increases with higher comparable price

Prepaid Operating Leases - Summary of Prepaid Operating Leases (Detail) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about arrangements involving legal form of lease [line items]
Current	¥ 12,546
Charge for the year	12,724	¥ 12,366
Non-current	354,546
Ending balance	367,092
Cost [member]
Disclosure of detailed information about arrangements involving legal form of lease [line items]
Beginning balance	529,577
Ending balance		529,577
Accumulated amortization [member]
Disclosure of detailed information about arrangements involving legal form of lease [line items]
Beginning balance	149,761
Charge for the year	12,724
Ending balance	¥ 162,485	¥ 149,761

Intangible Assets - Summary of Intangible Assets (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill beginning balance	¥ 418,637
Amortization	1,012	$ 143
Intangible assets and goodwill ending balance	954,144	134,669	¥ 418,637
Technology Know-how [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill beginning balance	10,122
Intangible assets and goodwill ending balance	9,110	1,286	10,122
Development costs [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill beginning balance	195,879
Intangible assets and goodwill ending balance	562,587	79,404	195,879
Goodwill [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill beginning balance	212,636
Intangible assets and goodwill ending balance	212,636	30,012	212,636
Trademarks [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill ending balance	169,811	$ 23,967
Cost [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill beginning balance	551,012		355,133
Addition	536,519
Intangible assets and goodwill ending balance	1,087,531		551,012
Cost [member] \| Internally generated [member]
Disclosure of detailed information about intangible assets [line items]
Addition			195,879
Cost [member] \| Technology Know-how [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill beginning balance	136,822
Addition	0
Reclassification			136,822
Intangible assets and goodwill ending balance	136,822		136,822
Cost [member] \| Development costs [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill beginning balance	195,879		136,822
Addition	366,708
Reclassification			(136,822)
Intangible assets and goodwill ending balance	562,587		195,879
Cost [member] \| Development costs [member] \| Internally generated [member]
Disclosure of detailed information about intangible assets [line items]
Addition			195,879
Cost [member] \| Goodwill [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill beginning balance	218,311		218,311
Intangible assets and goodwill ending balance	218,311		218,311
Cost [member] \| Trademarks [member]
Disclosure of detailed information about intangible assets [line items]
Addition	169,811
Intangible assets and goodwill ending balance	169,811
Accumulated depreciation, amortisation and impairment [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill beginning balance	132,375		132,375
Amortization	1,012
Intangible assets and goodwill ending balance	133,387		132,375
Accumulated depreciation, amortisation and impairment [member] \| Technology Know-how [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill beginning balance	126,700
Reclassification			126,700
Amortization	1,012
Intangible assets and goodwill ending balance	127,712		126,700
Accumulated depreciation, amortisation and impairment [member] \| Development costs [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill beginning balance			126,700
Reclassification			(126,700)
Intangible assets and goodwill ending balance	0
Accumulated depreciation, amortisation and impairment [member] \| Goodwill [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill beginning balance	5,675		5,675
Intangible assets and goodwill ending balance	¥ 5,675		¥ 5,675

Intangible Assets - Goodwill - Carrying Amount of Goodwill Allocated (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Yuchai
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	¥ 212,636	$ 30,012	¥ 212,636

Intangible Assets - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2017 CNY (¥)
Disclosure of detailed information about intangible assets [line items]
Intangible asset, carrying amount	¥ 954,144,000		¥ 418,637,000	$ 134,669
Pre-tax discount rate	13.32%	13.32%	13.96%
Estimated revenue growth rate	0.00%	0.00%	5.00%
Pre-tax discount rate that would result in an impairment	14.79%		14.28%	14.79%
Increase decrease in impairment charge	4.53%	4.53%	3.30%
Estimation of future business projection	In 2018, the Group used a 11 years forecast which is based on the financial budgets approved by the senior management covering 8 years’ period from 2019 to 2026, and a further 3 years of forecast with no terminal value. In 2019, the Group used 10 years forecast which is based on the financial budgets approved by the senior management covering 6 years’ period from 2020 to 2025, and a further 4 years of forecast with no terminal value.	In 2018, the Group used a 11 years forecast which is based on the financial budgets approved by the senior management covering 8 years’ period from 2019 to 2026, and a further 3 years of forecast with no terminal value. In 2019, the Group used 10 years forecast which is based on the financial budgets approved by the senior management covering 6 years’ period from 2020 to 2025, and a further 4 years of forecast with no terminal value.
Pre-tax discount rate applied to cash flow projection	14.13%		26.30%	14.13%
Long term rates used to extrapolate the budget	5.70%		6.30%	5.70%
Percentage decrease in demand that would result in an impairment	17.57%		1.00%	17.57%
Long term growth rate that would result in an impairment	2.40%		5.77%	2.40%
Payment for trademark license fee	¥ 169,800,000	$ 24,000
Capitalized developemnt costs gross	¥ 954,144,000		¥ 418,637,000	$ 134,669
Bottom of range [member]
Disclosure of detailed information about intangible assets [line items]
Estimated revenue growth rate	10.00%	10.00%
Top of range [member]
Disclosure of detailed information about intangible assets [line items]
Estimated revenue growth rate	15.00%	15.00%
Guangxi Yuchai Machinery Company Limited [member]
Disclosure of detailed information about intangible assets [line items]
Pre-tax discount rate applied to cash flow projection	13.32%		13.96%	13.32%
Impairment on goodwill	¥ 0
Technology development cost [member]
Disclosure of detailed information about intangible assets [line items]
Intangible asset, carrying amount	366,700,000		¥ 195,900,000	$ 51,800	¥ 10,100,000
Capitalized developemnt costs gross	¥ 562,600,000			$ 79,400
Jining Yuchai Engine Company Limited [member]
Disclosure of detailed information about intangible assets [line items]
Intangible asset, carrying amount					¥ 10,100,000

Inventories - Summary of Inventories (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Classes of current inventories [abstract]
Raw materials	¥ 1,500,034	$ 211,717	¥ 1,243,955
Work in progress	35,688	5,037	30,038
Finished goods	1,288,415	181,848	1,243,871
Total inventories at the lower of cost and net realizable value	¥ 2,824,137	$ 398,602	¥ 2,517,864

Inventories - Summary of Analysis of Inventory Reserve Accounts (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Write-downs (reversals of write-downs) of inventories [abstract]
Inventories recognized as an expense in cost of sales	¥ 13,167,181	$ 1,858,433	¥ 11,471,988	¥ 11,021,960
Inventories written down	31,810	4,490	25,194	17,492
Reversal of write-down of inventories	¥ (14,788)	$ (2,087)	¥ (33,662)	¥ (37,393)

Other Current Assets - Summary of Other Current Assets (Detail)
¥ in Thousands, $ in Thousands

Dec. 31, 2019

CNY (¥)

Dec. 31, 2019

USD ($)

Dec. 31, 2018

CNY (¥)

Development properties

¥ 17,721

$ 2,501

¥ 20,267

Quoted equity securities

9,235

1,304

21,876

Derivative not designated as hedges – foreign exchange forward contract

4,529

Total

^[1]

¥ 26,956

$ 3,805

¥ 46,672

[1]

Other Current Assets - Summary of Other Current Assets (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 11, 2019 USD ($)	Sep. 13, 2019	Sep. 19, 2018 USD ($)
Other Current Assets [line items]
Exchange rate				7.0901
Impairment loss on development properties	¥ 3,000	$ 400	¥ 0
Proceeds from disposal of equity securities	16,429	2,319
Gain on disposal on equity investments	¥ 11,528	$ 1,627
Forward contract [member]
Other Current Assets [line items]
Non-deliverable forward foreign exchange contract				$ 20,000		$ 73,000
Exchange rate					6.8599

Trade and Other Receivables - Summary of Trade and Other Receivables (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Current
Trade receivables, gross	¥ 794,678	$ 112,161	¥ 438,586
Less: Allowance for expected credit losses	(57,611)	(8,131)	(30,586)
Net trade receivables	737,067	104,030	408,000
Bill receivables	7,005,234	988,728	6,981,106
Total (Note 7.2, Note 36)	7,742,301	1,092,758	7,389,106
Current receivables from associates and joint ventures (trade)	609	86	174
Current receivables from associates and joint ventures (non-trade)	11,185	1,579	56,405
Current receivables from related parties (trade)	73,243	10,338	32,702
Current receivables from related parties (non-trade)	2,092	295	2,156
Staff advances	7,133	1,007	5,513
Interest receivables	12,224	1,725	8,220
Bills receivable in transit	8,700	1,228	8,850
Refundable deposits	2,131	301	3,029
Others	49,218	6,946	23,456
Less: Impairment losses – other receivables	(5,243)	(740)
Other receivables carried at amortized cost (Note 36)	161,292	22,765	140,505
Tax recoverable	223,652	31,566	140,316
Prepayments	63,048	8,899	115,360
Net other receivables	447,992	63,230	396,181
Total trade and other receivables	¥ 8,190,293	$ 1,155,988	¥ 7,785,287

Trade and Other Receivables - Summary of Trade and Other Receivables (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2019 USD ($)
Disclosure of trade and other receivables [line items]
Bills receivable	¥ 7,005,234		¥ 6,981,106	$ 988,728
Impairment loss on bills receivable in transit	5,000	$ 700	0
Secured bank facilities [member]
Disclosure of trade and other receivables [line items]
Bills receivable	0		558,600
Joint ventures [member]
Disclosure of trade and other receivables [line items]
Bills receivable			18,100
Other related parties [member]
Disclosure of trade and other receivables [line items]
Bills receivable	¥ 1,050,700		¥ 17,000	$ 148,300

Trade and Other Receivables - Additional Information (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Disclosure of trade and other receivables [line items]
Trade receivables payment terms	60 days
Outstanding bills receivable discounted with banks by retaining recourse obligation	¥ 2,268,400	$ 320,200	¥ 1,272,400
Outstanding bills receivable endorsed to suppliers with recourse obligation	1,120,300	158,100	1,627,500
Gross trade receivables	794,678	112,161	438,586
Unsecured loans [member]
Disclosure of trade and other receivables [line items]
Non-trade receivable due from joint ventures			¥ 50,000
Unsecured interest rate			4.35%
Dongfeng companies [member]
Disclosure of trade and other receivables [line items]
Gross trade receivables	¥ 136,400	$ 19,200	¥ 54,100
Top of range [member]
Disclosure of trade and other receivables [line items]
Bills receivables discounted maturity period	12 months

Trade and Other Receivables - Movement in the Allowance for Expected Credit Losses of Trade and Other Receivables (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Reconciliation of changes in allowance account for credit losses of financial assets [abstract]
Beginning balance	¥ 30,586	$ 4,316	¥ 43,775
Credit to consolidated statement of profit or loss	32,340	4,565	(11,052)
Written off	(62)	(9)	(2,137)
Translation difference	(10)	(1)
Ending balance	¥ 62,854	$ 8,871	¥ 30,586

Cash and Cash Equivalents - Summary of Cash and Bank Balances (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 CNY (¥)	Dec. 31, 2016 CNY (¥)
Non-current
Long-term bank deposits	¥ 50,000	$ 7,057	¥ 70,000
Current
Cash and cash equivalents	5,753,268	812,024	5,559,890	$ 784,729	¥ 5,390,324	¥ 3,653,914
Long-term bank deposits	70,000	9,880	70,000
Short-term bank deposits	286,543	40,443	356,926
Restricted cash	231,107	32,619	71,706
Total	6,340,918	894,966	6,058,522
Cash and bank balances	¥ 6,390,918	$ 902,023	¥ 6,128,522

Cash and Cash Equivalents - Summary of Cash and Bank Balances (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2019 USD ($)
Disclosure of detailed cash and cash equivalents short term bank deposits current restricted cash and long term bank deposits [line items]
Long-term bank deposits	¥ 50,000	¥ 70,000	$ 7,057
Long term deposits less than maturity	12 months
Guangxi Yuchai Machinery Monopoly Development Company Limited [member]
Disclosure of detailed cash and cash equivalents short term bank deposits current restricted cash and long term bank deposits [line items]
Long-term bank deposits	¥ 50,000	¥ 70,000	$ 7,100
Long term deposits maturity	2 years
Bottom of range [member]
Disclosure of detailed cash and cash equivalents short term bank deposits current restricted cash and long term bank deposits [line items]
Interest rate short term bank deposit	1.78%	1.40%
Bottom of range [member] \| Guangxi Yuchai Machinery Monopoly Development Company Limited [member]
Disclosure of detailed cash and cash equivalents short term bank deposits current restricted cash and long term bank deposits [line items]
Interest rate long term bank deposit	3.99%	2.94%
Top of range [member]
Disclosure of detailed cash and cash equivalents short term bank deposits current restricted cash and long term bank deposits [line items]
Interest rate short term bank deposit	3.65%	3.90%
Top of range [member] \| Guangxi Yuchai Machinery Monopoly Development Company Limited [member]
Disclosure of detailed cash and cash equivalents short term bank deposits current restricted cash and long term bank deposits [line items]
Interest rate long term bank deposit	4.13%	3.15%

Cash and Cash Equivalents - Additional Information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)	Dec. 31, 2019 USD ($)
Disclosure of detailed cash and cash equivalents short term bank deposits current restricted cash and long term bank deposits [line items]
Restricted cash used as collateral by the banks for the issuance of bills to suppliers	¥ 231.1		¥ 31.6		$ 32.6
Restricted money relates to retention money deposited in a joint signatory account with the buyer of subsidiaries			40.1
Undrawn borrowing facilities	295.0		492.8		$ 41.6
Loan commitment fee incurred	¥ 0.2		¥ 0.2	¥ 0.2
Short term deposits maturity	3 months	3 months
Bottom of range [member]
Disclosure of detailed cash and cash equivalents short term bank deposits current restricted cash and long term bank deposits [line items]
Interest rate on bank deposits	1.50%		1.30%		1.50%
Top of range [member]
Disclosure of detailed cash and cash equivalents short term bank deposits current restricted cash and long term bank deposits [line items]
Interest rate on bank deposits	3.15%		3.28%		3.15%
Loan commitment fee incurred \| $		$ 0.1

Cash and Cash Equivalents - Summary of Cash Flows, Cash and Cash Equivalents (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 CNY (¥)	Dec. 31, 2016 CNY (¥)
Cash and cash equivalents [abstract]
Cash at banks and on hand	¥ 5,205,605	$ 734,726	¥ 5,110,520
Short-term bank deposits	547,663	77,298	449,370
Cash and cash equivalents	¥ 5,753,268	$ 812,024	¥ 5,559,890	$ 784,729	¥ 5,390,324	¥ 3,653,914

Leases - Additional Information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Statement [line items]
Cash outflows for leases	¥ 65.6	$ 9.3
Non-cash additions to right-of-use assets and lease liabilities	11.5	1.6
Operating lease rental income	¥ 11.9	$ 1.7	¥ 11.0
Bottom of range [member]
Statement [line items]
Land use rights, term	1 year	1 year
Operating lease term of contract	1 year	1 year
Top of range [member]
Statement [line items]
Land use rights, term	12 years	12 years
Operating lease term of contract	6 years	6 years

Leases - Summary of detailed Information About Carrying Amounts of Right-of-use Assets Recognized and Movements During Year (Detail) - 12 months ended Dec. 31, 2019 ¥ in Thousands	CNY (¥)	USD ($)
Disclosure of quantitative information about right-of-use assets [line items]
Addition	¥ 11,473	$ 1,619,000
Depreciation expenses	(40,958)	(5,781,000)
Disposal	(1,771)	(250,000)
Translation difference	32	5,000
Ending balance	415,384	58,628,000
Increase (decrease) due to changes in accounting policy [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	446,608	63,035
Effect of adopting of IFRS 16	446,608	$ 63,035,000
Building and office space [member]
Disclosure of quantitative information about right-of-use assets [line items]
Addition	11,473
Depreciation expenses	(26,597)
Translation difference	36
Ending balance	61,556
Building and office space [member] \| Increase (decrease) due to changes in accounting policy [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	76,644
Effect of adopting of IFRS 16	76,644
Office Furniture, Fittings and Equipment [member]
Disclosure of quantitative information about right-of-use assets [line items]
Depreciation expenses	(14)
Translation difference	(4)
Ending balance	21
Office Furniture, Fittings and Equipment [member] \| Increase (decrease) due to changes in accounting policy [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	39
Effect of adopting of IFRS 16	39
Leasehold land [member]
Disclosure of quantitative information about right-of-use assets [line items]
Depreciation expenses	(14,347)
Disposal	(1,771)
Ending balance	353,807
Leasehold land [member] \| Increase (decrease) due to changes in accounting policy [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	369,925
Effect of adopting of IFRS 16	¥ 369,925

Leases - Summary of Detailed Information About Carrying Amounts of Lease Liabilities and Movements During Year (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Jan. 01, 2019 CNY (¥)	Jan. 01, 2019 USD ($)
Disclosure Of Quantitative Information About Lease Liabilities [Line Items]
Accretion of interest	¥ 2,918	$ 412
Payments	48,365	6,826
Ending balance	60,007	8,469
Current			¥ 28,633	$ 4,041
Non- current			31,374	4,428
Total	60,007	8,469	60,007	8,469	¥ 96,852	$ 13,670
Increase (decrease) due to changes in accounting policy [member]
Disclosure Of Quantitative Information About Lease Liabilities [Line Items]
Beginning balance	96,852	13,670
Effect of adopting of IFRS 16	96,852	13,670
Additions	11,473	1,619
Accretion of interest	2,918	412
Payments	(51,283)	(7,238)
Translation difference	47	6
Ending balance	60,007	8,469
Total	¥ 96,852	$ 13,670	¥ 60,007	$ 8,469

Leases - Summary of Detailed Information About Amounts Recognized In Profit of Loss (Detail) - 12 months ended Dec. 31, 2019 ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)
Disclosure Of Detailed Information About Lease Cost [Line Items]
Depreciation charge for right-of-use assets	¥ 40,958	$ 5,781
Interest expenses on lease liabilities	2,918	412
Expenses relating to short-term leases (included in selling, general and administrative costs and research and development cost)	14,341	2,024
Total amount recognized in profit or loss	¥ 58,217	$ 8,217

Leases - Summary of Detailed Information About Future Minimum Rental Receivables Under Non-Cancellable Operating Leases (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Disclosure of maturity analysis of operating lease payments [line items]
Future minimum operating leases	¥ 24,592	$ 3,470	¥ 26,254
Within 1 Year [member] \| Related parties [member]
Disclosure of maturity analysis of operating lease payments [line items]
Future minimum operating leases	1,787	252	1,248
Within 1 Year [member] \| Joint ventures [member]
Disclosure of maturity analysis of operating lease payments [line items]
Future minimum operating leases	2,691	380	2,308
Within 1 Year [member] \| Third parties [member]
Disclosure of maturity analysis of operating lease payments [line items]
Future minimum operating leases	892	126	1,391
After 1 Year but within 5 years [member] \| Related parties [member]
Disclosure of maturity analysis of operating lease payments [line items]
Future minimum operating leases	660	93	1,030
After 1 Year but within 5 years [member] \| Joint ventures [member]
Disclosure of maturity analysis of operating lease payments [line items]
Future minimum operating leases	10,526	1,486	9,087
After 1 Year but within 5 years [member] \| Third parties [member]
Disclosure of maturity analysis of operating lease payments [line items]
Future minimum operating leases	1,504	212	1,463
After than 5 years [member] \| Related parties [member]
Disclosure of maturity analysis of operating lease payments [line items]
Future minimum operating leases			455
After than 5 years [member] \| Joint ventures [member]
Disclosure of maturity analysis of operating lease payments [line items]
Future minimum operating leases	5,643	796	¥ 9,272
After than 5 years [member] \| Third parties [member]
Disclosure of maturity analysis of operating lease payments [line items]
Future minimum operating leases	¥ 889	$ 125

Issued capital - Summary of Issued Capital (Detail) ¥ in Thousands, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥) shares	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥) shares	Dec. 31, 2019 USD ($) shares
Disclosure of classes of share capital [line items]
Ending balance	¥ 2,081,138	$ 293,734	¥ 2,081,138
Ordinary shares issued and fully paid
Ending balance			40,858,290
Equity
Ending balance	¥ 2,081,138	$ 293,734	¥ 2,081,138
One special share issued and fully paid at US$0.10 per share	Less than RMB 1 thousand(US$1 thousand)	Less than RMB 1 thousand(US$1 thousand)	Less than RMB 1 thousand(US$1 thousand)
Non-redeemable convertible cumulative preference shares
Ordinary shares [member]
Disclosure of classes of share capital [line items]
Ordinary share of par value US$0.10 each	100,000		100,000	100,000

Issued capital - Summary of Issued Capital (Parenthetical) (Detail) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Ordinary shares [member]
Disclosure of classes of share capital [line items]
Par value	$ 0.10	$ 0.10

Issued capital - Additional Information (Detail)	12 Months Ended
Issued capital - Additional Information (Detail)	Dec. 31, 2019 shares
Ordinary shares [member] \| Bottom of range [member]
Disclosure of classes of share capital [line items]
Number of special share shall cease to carry any rights in event by HLA	7,290,000

Dividends Declared and Paid - Summary of Dividends Declared and Paid (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Disclosure of dividends declared and paid on ordinary capital [line items]
Dividends on ordinary shares	¥ 238,758	$ 33,699	¥ 597,459	¥ 248,844
Dividend paid in cash	238,758	33,699	597,459
Final dividend [member]
Disclosure of dividends declared and paid on ordinary capital [line items]
Dividends on ordinary shares	¥ 238,758	$ 33,699	197,353
Special dividend [member]
Disclosure of dividends declared and paid on ordinary capital [line items]
Dividends on ordinary shares			¥ 400,106

Dividends Declared and Paid - Summary of Dividends Declared and Paid (Parenthetical) (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of dividends declared and paid on ordinary capital [line items]
Dividends on ordinary shares, per share	$ 0.85	$ 2.21	$ 0.90
Final dividend [member]
Disclosure of dividends declared and paid on ordinary capital [line items]
Dividends on ordinary shares, per share	0.85	0.73
Special dividend [member]
Disclosure of dividends declared and paid on ordinary capital [line items]
Dividends on ordinary shares, per share	$ 0	$ 1.48

Reserves - Summary of Statutory Reserves (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Disclosure of reserves within equity [line items]
Beginning balance	¥ 302,404
Ending balance	304,307	$ 42,950	¥ 302,404
Statutory general reserve [member]
Disclosure of reserves within equity [line items]
Beginning balance	276,698	39,053	275,320
Transfer from retained earnings	1,903	269	1,378
Ending balance	278,601	39,322	276,698
General surplus reserve [member]
Disclosure of reserves within equity [line items]
Beginning balance	25,706
Ending balance	25,706	3,628	25,706
Capital reserves [member]
Disclosure of reserves within equity [line items]
Beginning balance	30,704
Ending balance	¥ 30,704	$ 4,334	¥ 30,704

Reserves - Summary of Statutory Reserves (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2019
Disclosure of reserves within equity [line items]
Appropriation of net income to the statutory general reserve	10.00%
Percentage of certain statutory general reserve balance with share capital	50.00%
Bottom of range [member]
Disclosure of reserves within equity [line items]
Minimum statutory general reserval balance with share capital	25.00%

Reserves - Summary of Other Components of Equity (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Disclosure of other components of equity [line items]
Other components of equity	¥ (105,422)	$ (14,879)	¥ (110,946)
Foreign currency translation reserve [member]
Disclosure of other components of equity [line items]
Other components of equity	(36,091)	(5,094)	(39,215)
Performance shares reserves [member]
Disclosure of other components of equity [line items]
Other components of equity	19,758	2,789	19,758
Premium paid for acquisition of non-controlling interests [member]
Disclosure of other components of equity [line items]
Other components of equity	(11,472)	(1,619)	(11,541)
Fair value reserve of financial assets at FVOCI
Disclosure of other components of equity [line items]
Other components of equity	¥ (77,617)	$ (10,955)	¥ (79,948)

Share-based Payment - Additional Information (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of terms and conditions of share-based payment arrangement [line items]
Equity incentive plan period	10 years
Exercise price for options outstanding	$ 21.11	$ 21.11
Weighted average remaining contractual life for the share options outstanding	4.6 years	5.6 years
One year after date of grant [member] \| Top of range [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based payment vesting percentage	33.00%
Two years after date of grant [member] \| Top of range [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based payment vesting percentage	66.00%
Three years after date of grant [member] \| Top of range [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based payment vesting percentage	100.00%

Share-based Payment - Expense Recognized for Employee Services Received (Detail) ¥ in Thousands	12 Months Ended
	Dec. 31, 2017 CNY (¥)
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Expense arising from equity-settled share-based payment transactions	¥ 1,592
Total expense arising from share-based payment transactions	¥ 1,592

Share-based Payment - Number and Weighted Average Exercise Prices ("WAEP") of, and Movements in Share Options (Detail)	Dec. 31, 2019 shares $ / shares	Dec. 31, 2018 shares $ / shares
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Number of share options outstanding \| shares	470,000	470,000
Number of share options exercisable \| shares	470,000	470,000
WAEP outstanding \| $ / shares	$ 21.11	$ 21.11
WAEP exercisable \| $ / shares	$ 21.11	$ 21.11

Share-based Payment - Fair Value of Share Options and Assumptions (Detail)	Jul. 29, 2014 USD ($) yr $ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share price \| $ / shares	$ 21.11
Exercise price \| $ / shares	$ 21.11
Expected volatility	47.40%
Expected dividends	5.81%
Bottom of range [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value at measurement date \| $	$ 5.70
Expected option life (years) \| yr	3.5
Risk-free interest rate	1.40%
Top of range [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Fair value at measurement date \| $	$ 6.74
Expected option life (years) \| yr	5.5
Risk-free interest rate	2.00%

Trade and Other Payables - Summary of Trade and Other Current Payables (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Trade and other current payables [abstract]
Trade payables	¥ 2,953,479	$ 416,858	¥ 2,495,482
Bills payables	2,764,013	390,116	2,065,147
Other payables	543,970	76,777	329,632
Accrued expenses	203,133	28,671	168,235
Accrued staff costs	653,854	92,286	666,641
Refund liabilities	757,655	106,936	761,521
Dividend payable	47,480	6,701	43,133
Amount due to associates and joint ventures (trade)	258,964	36,551	262,131
Amount due to associates and joint ventures (non-trade)	81	11	66
Amount due to related parties (trade)	221,413	31,250	145,747
Amount due to related parties (non-trade)	4,016	567	32,034
Financial liabilities carried at amortized cost (Note 36)	8,408,058	1,186,724	6,969,769
Other tax payable	39,698	5,603	38,823
Trade and other payables with liquidity risk (Note 33)	8,447,756	1,192,327	7,008,592
Deferred grants (Note 29)	19,952	2,816	22,082
Advance from customers	383	55	369
Total trade and other payables (current)	¥ 8,468,091	$ 1,195,198	¥ 7,031,043

Trade and Other Payables - Summary of Trade and Other Current Payables (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Disclosure Of Detailed Information About Trade And Other Payables [line items]
Bills payable	¥ 2,764,013	$ 390,116	¥ 2,065,147
Joint ventures [member]
Disclosure Of Detailed Information About Trade And Other Payables [line items]
Bills payable	125,000	17,600	131,800
Associates [member]
Disclosure Of Detailed Information About Trade And Other Payables [line items]
Bills payable	10,100	1,400	4,200
Other related parties [member]
Disclosure Of Detailed Information About Trade And Other Payables [line items]
Bills payable	¥ 232,600	$ 32,800	¥ 62,800

Trade and Other Payables - Summary of Other Non-current Payables (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Trade and other non-current payables [abstract]
Other payables (Note 33, Note 36)	¥ 176,302	$ 24,883	¥ 160,091

Trade and Other Payables - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2019
Trade and other current payables [abstract]
Trade payables settlement term	60 days
Other current payables settlement term	3 months

Provision - Summary of Provision (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2018 USD ($)
Disclosure of other provisions [line items]
Beginning balance	¥ 166,913	$ 23,558	¥ 191,814	$ 27,072
Provision made	424,221	59,875	224,582	31,698
Provision utilized	(373,103)	(52,660)	(249,483)	(35,212)
Ending balance	218,031	$ 30,773	166,913	$ 23,558
Product warranty provision [member]
Disclosure of other provisions [line items]
Beginning balance	166,913		191,814
Provision made	421,905		224,582
Provision utilized	(373,103)		(249,483)
Ending balance	215,715		¥ 166,913
Provision for onerous contract [member[
Disclosure of other provisions [line items]
Provision made	2,316
Ending balance	¥ 2,316

Contract Liabilities - Summary of Contract Liabilities (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Disclosure of contract liabilities [line items]
Contract liabilities	¥ 436,622	$ 61,626	¥ 340,489
Current	382,809	54,030	286,786
Non-current	53,813	7,596	53,703
Unfulfilled maintenance services [member]
Disclosure of contract liabilities [line items]
Contract liabilities	181,139	25,566	191,728
Advance from customer [member]
Disclosure of contract liabilities [line items]
Contract liabilities	¥ 255,483	$ 36,060	¥ 148,761

Lease Liabilities - Summary of Detailed Information About In Lease Liabilities (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Jan. 01, 2019
Disclosure Of Detailed Information About Lease Liabilities [Line Items]
Effective interest rate			4.34%
Current	¥ 28,633	$ 4,041
Non- current	¥ 31,374	4,428
Lease Liabilities Current [Member]
Disclosure Of Detailed Information About Lease Liabilities [Line Items]
Maturity	2020
Current	¥ 28,633	$ 4,041
Lease Liabilities Current [Member] \| Bottom of range [member]
Disclosure Of Detailed Information About Lease Liabilities [Line Items]
Effective interest rate	1.25%	1.25%
Lease Liabilities Current [Member] \| Top of range [member]
Disclosure Of Detailed Information About Lease Liabilities [Line Items]
Effective interest rate	6.20%	6.20%
Lease Liabilities Noncurrent [Member]
Disclosure Of Detailed Information About Lease Liabilities [Line Items]
Non- current	¥ 31,374	$ 4,428
Lease Liabilities Noncurrent [Member] \| Bottom of range [member]
Disclosure Of Detailed Information About Lease Liabilities [Line Items]
Effective interest rate	1.25%	1.25%
Maturity	2021
Lease Liabilities Noncurrent [Member] \| Top of range [member]
Disclosure Of Detailed Information About Lease Liabilities [Line Items]
Effective interest rate	6.20%	6.20%
Maturity	2024

Other Financial Liabilities - Summary of Other Financial Liabilities (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Disclosure of Detailed Information About Other financial liabilities [Line Items]
Finance lease liabilities			¥ 48
Current	¥ 999	$ 141	14
Non-current			34
Total	999	141	¥ 48
Derivative Not Designated As Hedges Foreign Exchange Forward Contract
Disclosure of Detailed Information About Other financial liabilities [Line Items]
Other financial liabilities	¥ 999	$ 141

Other Financial Liabilities - Detailed Information About In Other Lease Payments (Detail)
¥ in Thousands

Dec. 31, 2018

CNY (¥)

Disclosure of Detailed Information About Other financial liabilities [Line Items]

Undiscounted Minimum Lease Payments

¥ 48

Undiscounted Lease Liability

Less: Amount representing finance charges

^[1]

Discounted Minimum Lease Payments

Discounted Lease Liability

One year or less [member]

Disclosure of Detailed Information About Other financial liabilities [Line Items]

Undiscounted Minimum Lease Payments

Undiscounted Lease Liability

Later Than One Year and Not Later Than Five Years [Member]

Disclosure of Detailed Information About Other financial liabilities [Line Items]

Undiscounted Minimum Lease Payments

Undiscounted Lease Liability

¥ 34

[1]	Less than RMB 1 thousand (US$1 thousand)

Other Financial Liabilities - Summary of Loans and Borrowings (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2019 USD ($)
Disclosure of detailed information about borrowings [line items]
Non-current borrowings		¥ 15,078
Current borrowings	¥ 2,055,046	¥ 2,001,014	$ 290,052
Non-current borrowings [member] \| Singapore dollar [Member]
Disclosure of detailed information about borrowings [line items]
Effective interest rate		2.84%
Maturity		2020
Non-current borrowings		¥ 15,078
Current borrowings [member]
Disclosure of detailed information about borrowings [line items]
Current borrowings		¥ 2,001,014
Current borrowings [member] \| Singapore dollar [Member]
Disclosure of detailed information about borrowings [line items]
Effective interest rate	2.84%		2.84%
Maturity	2020
Current borrowings	¥ 15,522		$ 2,191
Current borrowings [member] \| Renminbi [Member]
Disclosure of detailed information about borrowings [line items]
Effective interest rate		4.26%
Maturity	2020	2019
Current borrowings	¥ 1,900,000	¥ 1,500,000	$ 268,168
Current borrowings [member] \| Renminbi [Member] \| Bottom of range [member]
Disclosure of detailed information about borrowings [line items]
Effective interest rate	3.70%		3.70%
Current borrowings [member] \| Renminbi [Member] \| Top of range [member]
Disclosure of detailed information about borrowings [line items]
Effective interest rate	4.13%		4.13%
Current borrowings [member] \| USD [Member]
Disclosure of detailed information about borrowings [line items]
Effective interest rate	2.52%	3.48%	2.52%
Maturity		2019
Current borrowings	¥ 139,524	¥ 501,014	$ 19,693
MUFG Bank Ltd [member] \| Singapore dollar [Member]
Disclosure of detailed information about borrowings [line items]
Non-current borrowings		¥ 15,078
Current borrowings	15,522
MUFG Bank Ltd [member] \| USD [Member]
Disclosure of detailed information about borrowings [line items]
Current borrowings	¥ 2,191

Other Financial Liabilities - Summary of Loans and Borrowings (Parenthetical) (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2019 SGD ($)	Sep. 30, 2019 CNY (¥)	Dec. 31, 2018 SGD ($)
Current borrowings [member] \| USD [member]
Disclosure of detailed information about borrowings [line items]
Bill receivables pledged to secured loan \| ¥		¥ 524.1
MUFG Bank Ltd [member] \| Singapore dollar [member]
Disclosure of detailed information about borrowings [line items]
Facility limit \| $	$ 30		$ 30

Other Financial Liabilities - Additional Information (Detail) $ in Millions, $ in Millions		12 Months Ended
	Jan. 01, 2019	Dec. 31, 2019 USD ($)	Dec. 31, 2019 SGD ($)	Dec. 11, 2019 USD ($)	Sep. 13, 2019	Sep. 19, 2018 USD ($)	Jun. 01, 2018 SGD ($)	Mar. 31, 2017 USD ($)	Mar. 30, 2017 SGD ($)
Disclosure of detailed information about borrowings [line items]
Consolidated tangible net worth ratio		2.00%	2.00%
Exchange rate				7.0901
Forward contract [member]
Disclosure of detailed information about borrowings [line items]
Non-deliverable forward foreign exchange contract				$ 20.0		$ 73.0
Exchange rate					6.8599
DBS Bank Ltd [member]
Disclosure of detailed information about borrowings [line items]
Refinancing of uncommitted multi-currency revolving credit facility							$ 30.0
Credit facility maturity period		three
Ownership interest in the entity, percentage		76.40%
Facility limit			$ 30.0
DBS Bank Ltd [member] \| Hong Leong Asia Limited [member]
Disclosure of detailed information about borrowings [line items]
Ownership interest in the entity, percentage	35.00%
DBS Bank Ltd [member] \| Top of range [member]
Disclosure of detailed information about borrowings [line items]
Credit facility with bank			$ 30.0
Consolidated tangible net worth ratio		100.00%	100.00%
DBS Bank Ltd [member] \| Bottom of range [member]
Disclosure of detailed information about borrowings [line items]
Consolidated tangible net worth		$ 350.0
Credit facility with MUFG Singapore Branch [member]
Disclosure of detailed information about borrowings [line items]
Credit facility maturity period		three years
Refinancing of unsecured multi-currency revolving credit facility									$ 30.0
Credit facility with MUFG Singapore Branch [member] \| Top of range [member]
Disclosure of detailed information about borrowings [line items]
Credit facility with bank			$ 30.0
Consolidated tangible net worth		$ 120.0
Consolidated tangible net worth ratio		200.00%	200.00%
Facility limit			$ 30.0
Sumitomo branch [Member]
Disclosure of detailed information about borrowings [line items]
Credit facility maturity period		three years
Refinancing of unsecured multi-currency revolving credit facility								$ 30.0
Sumitomo branch [Member] \| Top of range [member]
Disclosure of detailed information about borrowings [line items]
Credit facility with bank			$ 30.0
Facility limit		$ 30.0
Sumitomo branch [Member] \| Bottom of range [member]
Disclosure of detailed information about borrowings [line items]
Consolidated tangible net worth		$ 200.0

Deferred Grants - Summary of Deferred Grants (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2019 USD ($)
Subclassifications of assets, liabilities and equities [abstract]
Beginning balance	¥ 607,608	$ 85,758	¥ 353,647
Received during the year	187,096	26,407	282,388
Released to consolidated statement of profit or loss	(117,976)	(16,651)	(28,427)
Ending balance	676,728	$ 95,514	607,608
Current (Note 24)	19,952		22,082	$ 2,816
Non-current	¥ 656,776		¥ 585,526	$ 92,698

Related Party Disclosures - Additional Information (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥) shares	Dec. 31, 2019 USD ($) shares	Dec. 31, 2018 CNY (¥) shares	Dec. 31, 2018 USD ($) shares	Dec. 31, 2017 CNY (¥)	Dec. 31, 2017 USD ($)
Hong Leong Asia Limited [member] \| Subsidiaries [member]
Disclosure of transactions between related parties [line items]
Ownership interest in the entity, shares	17,059,154	17,059,154	17,059,154	17,059,154
Ownership interest in the entity, percentage	41.80%	41.80%	41.80%	41.80%
Consultancy fees charged	¥ 30	$ 10	¥ 30	$ 10	¥ 30	$ 10
HL Technology Systems Private Limited [member] \| Subsidiaries [member]
Disclosure of transactions between related parties [line items]
Ownership interest held by controlling shareholder, percent	23.30%	23.30%	23.30%	23.30%
Well Summit Investments Limited [member] \| Subsidiaries [member]
Disclosure of transactions between related parties [line items]
Ownership interest held by controlling shareholder, percent	18.50%	18.50%	18.50%	18.50%
Yulin City Government [member]
Disclosure of transactions between related parties [line items]
Ownership interest held by non-controlling shareholder with significant influence over the Group	17.20%	17.20%	17.20%	17.20%

Related Party Disclosures - Significant Transactions with Related Parties (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Disclosure of transactions between related parties [line items]
Payment for Trademark Usage Fee	¥ 169,811	$ 23,967
Associates and joint ventures [member]
Disclosure of transactions between related parties [line items]
Sales of engines and materials	912,877	128,845	¥ 439,106	¥ 412,591
Purchase of material, supplies and engines	1,999,831	282,259	1,192,322	914,211
Joint ventures [member]
Disclosure of transactions between related parties [line items]
Purchase of service	0	0		2,543
Hospitality, restaurant, consultancy and other service income	3,984	562	3,456	14,241
Rental income	3,206	452	1,937
Hong Leong Asia Limited [member]
Disclosure of transactions between related parties [line items]
General and administrative expenses	6,788	958	6,639	6,913
GY Group (including its subsidiaries and affiliates) [member]
Disclosure of transactions between related parties [line items]
Sales of engines and materials	1,792,280	252,965	406,422	455,061
Purchase of material, supplies and engines	1,895,239	267,496	1,589,638	1,221,421
Hospitality, restaurant, consultancy and other service income	15,350	2,167	24,015	25,728
Rental income	2,133	301	3,886	4,483
Property management service expenses	22,595	3,189	26,547	22,212
Leasing expenses	0	0	25,705	8,676
General and administrative expenses	19,953	2,816	21,607	20,215
Delivery, storage, distribution and handling expenses	304,532	42,982	228,195	210,406
Payment for Trademark Usage Fee	169,811	23,967
Payments For Lease Liabilities	33,594	4,741
Purchases of vehicles and machineries	2,817	398	¥ 6,144	52,443
Purchases of additional shareholding in a subsidiary	0	0		1,335
Disposal of shareholding in an associate	¥ 0	$ 0		¥ 1,833

Related Party Disclosures - Significant Transactions with Related Parties (Parenthetical) (Detail) - CNY (¥) ¥ in Millions	1 Months Ended
	Aug. 31, 2017	Jun. 30, 2017
Guangxi Yuchai Accessories Manufacturing Company Limited [member]
Disclosure of transactions between related parties [line items]
Proportion of equity interest		25.00%
Total consideration from disposal		¥ 1.3
YEMC [member]
Disclosure of transactions between related parties [line items]
Proportion of equity interest	30.00%
Total consideration from disposal	¥ 1.9

Related Party Disclosures - Compensation of Key Management Personnel (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Disclosure of transactions between related parties [abstract]
Short-term employee benefits	¥ 41,606	$ 5,872	¥ 39,703	¥ 40,831
Contribution to defined contribution plans	362	51	335	385
Cost of share-based payment				1,294
Total	¥ 41,968	$ 5,923	¥ 40,038	¥ 42,510

Commitments and Contingencies - Additional Information (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Disclosure of commitments and contingencies [line items]
Capital commitments related to property, plant and equipment	¥ 594.0	$ 83.8	¥ 774.5
Investments commitments related to interest in joint venture	17.6	2.5	58.8
Irrevocable letter of credits issued	¥ 30.8	$ 4.4	¥ 93.5

Commitments and Contingencies - Future Minimum Rentals Payable Under Non-cancellable Operating Leases (Detail) - Dec. 31, 2019 ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)
Disclosure of finance lease and operating lease by lessee [line items]
Future minimum rentals payable under non-cancellable operating leases	¥ 190	$ 27
One year or less [member]
Disclosure of finance lease and operating lease by lessee [line items]
Future minimum rentals payable under non-cancellable operating leases	105	15
Later than one year and not later than five years [member]
Disclosure of finance lease and operating lease by lessee [line items]
Future minimum rentals payable under non-cancellable operating leases	85	12
Later than five years [member]
Disclosure of finance lease and operating lease by lessee [line items]
Future minimum rentals payable under non-cancellable operating leases

Segment Information - Additional Information (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 CNY (¥) Segments	Dec. 31, 2019 USD ($) Segments	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Disclosure of operating segments [line items]
Number of reportable segments	2	2
Revenue	¥ 18,016,085	$ 2,542,813	¥ 16,263,248	¥ 16,197,819
One customer group [member]
Disclosure of operating segments [line items]
Revenue	¥ 5,205,500	$ 734,700	¥ 4,463,900	¥ 4,839,600

- Definition

Expiry date 2020-01-01: The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants. Effective 2020-01-01: The income arising in the course of an entity's ordinary activities. Income is increases in assets, or decreases in liabilities, that result in increases in equity, other than those relating to contributions from holders of equity claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2019-01-01
-Paragraph 28
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2019-en-r&anchor=para_28_a&doctype=Standard
-URIDate 2019-03-27

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2019-01-01
-Paragraph 23
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2019-en-r&anchor=para_23_a&doctype=Standard
-URIDate 2019-03-27

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2019-01-01
-Paragraph 32
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2019-en-r&anchor=para_32&doctype=Standard
-URIDate 2019-03-27

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2019-01-01
-Paragraph 33
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2019-en-r&anchor=para_33_a&doctype=Standard
-URIDate 2019-03-27

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2019-01-01
-Paragraph 34
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2019-en-r&anchor=para_34&doctype=Standard
-URIDate 2019-03-27

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2019-01-01
-Paragraph 82
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_82_a&doctype=Standard
-URIDate 2019-03-27

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2019-01-01
-Paragraph 103
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_103&doctype=Standard
-URIDate 2019-03-27

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2019-01-01
-Paragraph 102
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2019-en-r&anchor=para_102&doctype=Standard
-URIDate 2019-03-27

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 5
-IssueDate 2019-01-01
-Paragraph 33
-Subparagraph b
-Clause i
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2019-en-r&anchor=para_33_b_i&doctype=Standard
-URIDate 2019-03-27

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2019-01-01
-Paragraph B12
-Subparagraph b
-Clause v
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2019-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B
-URIDate 2019-03-27

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2019-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2019-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2019-03-27

+ Details

Segment Information - Summary of Segment Information (Detail)
¥ in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2019

CNY (¥)

Dec. 31, 2019

USD ($)

Dec. 31, 2018

CNY (¥)

Dec. 31, 2017

CNY (¥)

Dec. 31, 2019

USD ($)

Revenue

Total external revenue (Note 7.1)

¥ 18,016,085

$ 2,542,813

¥ 16,263,248

¥ 16,197,819

Results

177,261

25,019

147,244

105,421

Gain on disposal of subsidiaries

(126,851)

(17,904)

(108,339)

(96,072)

216,115

Gain on disposal of joint venture

^[1]

107,976

Impairment of property, plant and equipment

(3,950)

(558)

(30,173)

(20,845)

Impairment of technology development cost

(40,000)

Staff severance cost

(15,454)

(2,181)

(28,018)

(107,732)

Share of profit/(loss) of associates and joint ventures, net of tax

(465,209)

(65,661)

(433,885)

(444,181)

19,034

2,686

11,634

10,054

(172,619)

(24,364)

(206,667)

(194,172)

860,700

121,480

974,400

1,319,856

23,854,191

21,657,964

$ 3,366,811

(12,280,806)

(10,510,410)

(1,733,329)

273,991

222,812

$ 38,671

Operating segments [member] | Yuchai segment [member]

918,280

$ 129,607

405,895

Revenue

Total external revenue (Note 7.1)

17,980,304

16,210,467

16,140,622

Results

158,855

124,653

94,760

Impairment of property, plant and equipment

(126,379)

(107,609)

(94,794)

(3,950)

(30,173)

(20,845)

Impairment of technology development cost

(40,000)

Staff severance cost

(15,454)

(28,018)

(107,732)

Share of profit/(loss) of associates and joint ventures, net of tax

(458,665)

(428,199)

(433,921)

18,137

10,809

9,255

(141,330)

(175,956)

(164,578)

884,562

1,019,776

1,004,019

22,817,479

20,636,155

(12,127,021)

(10,318,492)

271,274

220,176

Operating segments [member] | HL Global Enterprises Limited segment [member]

917,192

403,179

Revenue

Total external revenue (Note 7.1)

35,781

52,781

57,197

Results

5,167

4,244

1,803

Gain on disposal of subsidiaries

(51)

(403)

(3,983)

216,115

Gain on disposal of joint venture

107,976

Share of profit/(loss) of associates and joint ventures, net of tax

(5,551)

(5,355)

(9,990)

897

825

799

(527)

(820)

(461)

4,457

4,156

322,160

416,397

441,040

(15,575)

(55,404)

2,717

2,636

Operating segments [member] | Corporate segment [member]

1,033

2,643

Results

13,239

18,347

11,833

(421)

(327)

(270)

(993)

(331)

(270)

(41)

(49)

(102)

1,939

(19,690)

22,708

2,120,767

2,081,220

(31,278)

(29,592)

Elimination of intersegment amounts [member]

Results

(2,975)

2,975

(29,842)

(29,031)

(30,258)

(29,842)

¥ (29,031)

(1,500,452)

(1,500,451)