0001193125-21-128033 | 20-F | XBRL Viewer | China Yuchai International LTD

Impairment losses on development property

(166,970)

(25,801)

(177,261)

(147,244)

3,039

Impairment losses on property, plant and equipment

3,920

606

3,950

30,173

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

(13,849)

(2,140)

32,340

(11,052)

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

638

Property, plant and equipment written off

7,417

1,146

4,137

1,265

Provision for onerous contract

11,323

1,750

2,316

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

27,978

4,323

17,022

(8,468)

Share of (profit)/loss of associates and joint ventures, net of tax

58,970

9,113

(19,034)

(11,634)

Write-back of trade and other payables

(1,052)

(163)

(2,087)

Profit before tax after adjustments

1,335,202

206,326

1,351,028

1,541,047

Changes in working capital

Decrease/(increase) in inventories

(1,687,639)

(260,788)

(314,904)

47,533

(Increase)/decrease in trade and other receivables and capitalized contract cost

(238,571)

(36,866)

(514,163)

(502,069)

(Decrease)/increase in trade and other payables and contract liabilities

2,241,327

346,349

1,294,214

(229,457)

Decrease/(increase) in development properties

(75)

(12)

(71)

4,205

Cash flows from operating activities

1,650,244

255,009

1,816,104

861,259

Income taxes paid

(234,876)

(36,295)

(233,088)

(190,658)

Net cash flows from operating activities

1,415,368

218,714

1,583,016

670,601

Investing activities

Payment for trademark usage fee

(169,811)

Additional investment in subsidiaries

(114)

Additional investment in associates and joint ventures

(41,160)

Development costs

(500,147)

(77,287)

(345,128)

(180,626)

Dividend received from:

- joint ventures

821

801

- quoted equity securities

166

959

1,992

Interest received

171,556

26,510

173,745

143,768

Proceeds from disposal of:

- property, plant and equipment

2,385

369

1,178

6,669

- quoted equity securities

1,354

209

16,429

- right-of-use assets

5,772

892

11,008

Proceeds from government grants

123,178

19,034

191,491

286,198

Purchase of property, plant and equipment

(584,676)

(90,349)

(749,087)

(407,747)

Tax and relevant expenses in relation to disposal of subsidiary

^[2]

(38,887)

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

(5,341)

(825)

138,079

68,953

Net cash flows used in investing activities

(785,753)

(121,421)

(810,477)

(79,992)

Dividends paid to:

- equity holders of the parent

(245,871)

(37,994)

(238,758)

(597,459)

- non-controlling interests

(205,525)

(31,759)

(203,167)

(132,558)

Interest paid and discounting on bills receivable

(148,793)

(22,993)

(139,118)

(108,039)

Payment of finance lease liabilities

(33)

Payment of principal portion of lease liabilities

(35,363)

(5,465)

(48,365)

Proceeds from borrowings

2,230,000

344,598

2,040,752

2,000,320

Repayment of borrowings

(2,056,280)

(317,754)

(2,000,773)

(1,611,756)

Net cash flows used in financing activities

(461,832)

(71,367)

(589,429)

(449,525)

Net increase in cash and cash equivalents

167,783

25,926

183,110

141,084

Cash and cash equivalents at January 1

5,753,268

889,044

5,559,890

5,390,324

Effect of exchange rate changes on balances in foreign currencies

(43,404)

(6,706)

10,268

28,482

Cash and cash equivalents at December 31

¥ 5,877,647

$ 908,264

¥ 5,753,268

¥ 5,559,890

[1]	In 2020, COVID-19 related rent rebate received from lessors of RMB 0.2 million (less than US$ 0.1 million) has been offset against the depreciation of right-of-use assets.
[2]	This relates to retention money deposited in a joint signatory account with the buyer of LKNII for payment of tax payable for the disposal of LKNII in 2018, which had been settled in 2019.

Corporate information

12 Months Ended

Dec. 31, 2020

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, 2020 were authorized for issue in accordance with a resolution of the directors on April 23, 2021.

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

As of December 31, 2020, Yuchai has nine (2019: nine) direct and 33 (2019: 33) indirectly owned subsidiaries, four (201

: four) joint ventures and one (2019: 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 (2019: 29) 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 subsidiaries (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 and joint ventures are disclosed in Notes 4 and 5.

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 of 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 of 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, 2019 and 2020, 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, 2020

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 6.4713 = US$1.00, the rate quoted by the People’s Bank of China at the close of business on February 28, 2021 and all values are rounded to the nearest thousand (“US$’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 of December 31, 2020. 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 res

lts 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.

The Group determines that it has acquired a business when the acquired set of activities and assets include an input and a substantive process that together significantly contribute to the ability to create outputs. The acquired process is considered substantive if it is critical to the ability to continue producing outputs, and the inputs acquired include an organi

ed workforce with the necessary skills, knowledge, or experience to perform that process or it significantly contributes to the ability to continue producing outputs and is considered unique or scarce or cannot be replaced without significant cost, effort, or delay in the ability to continue producing outputs.

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 of 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 re-measured 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.

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 and 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 de-recognition 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” (Note 22) 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 buildings and improvements	:	Shorter of 15 to 50 years or lease term
Plan t, machinery a nd equipment	:	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 de

recognition 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 de-recognition. In determining the amount of consideration from the de-recognition 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 de-recognition 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 follow


	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 de-recognition (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 de-recognition, 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 15)

•

Trade receivables (Note 15)

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 “lifetime 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 22, 25 and 26.

De-recognition

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 de-recognition 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 10)

•

Intangible assets (Note 12)

•

Investment property (Note 11)

•

Right-of-use

assets (Note 17)

•

Investment in joint ventures (Note 5)

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

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 re

measurement 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		3 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 re-measured 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 or 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.

(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 3 to 36 months) or mileage (generally 3,000 to 300,000 kilometers), whichever materializes first. For other applications engines, warranties extend for a duration of generally 3 to 36 months or running hours of 300 to 4,000 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

If the Group has a contract that is onerous, the present obligation under the contract is recognized and measured as a provision. However, before a separate provision for an onerous contract is established, the Group recognizes any impairment loss that has occurred on assets dedicated to that contract.

An onerous contract is a contract under which the unavoidable costs (i.e., the costs that the Group cannot avoid because it has the contract) of meeting the obligations under the contract exceed the economic benefits expected to be received under it. The unavoidable costs under a contract reflect the least net cost of exiting from the contract, which is the lower of the cost of fulfilling it and any compensation or penalties arising from failure to fulfil it. The cost of fulfilling a contract comprises the costs that relate directly to the contract (i.e., both incremental costs and an allocation of costs directly related to contract activities).

(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 21.

That cost is recognized in “Staff costs”, 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 of 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 of 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 9).

(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 re-measured 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 for the first-time certain standards and amendments, which are effective for annual periods beginning on or after January 1, 2020. The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective.

Amendments to IFRS 3

Definition of a Business

The amendment to IFRS 3

Business Combinations

clarifies that to be considered a business, an integrated set of activities and assets must include, at a minimum, an input and a substantive process that, together, significantly contribute to the ability to create output. Furthermore, it clarifies that a business can exist without including all of the inputs and processes needed to create outputs. These amendments had no impact on the consolidated financial statements of the Group, but may impact future periods should the Group enter into any business combinations.

Amendments to IFRS 7, IFRS 9 and IAS 39

Interest Rate Benchmark Reform

The amendments to IFRS 9 and IAS 39

Financial Instruments: Recognition and Measurement

provide a number of reliefs, which apply to all hedging relationships that are directly affected by interest rate benchmark reform. A hedging relationship is affected if the reform gives rise to uncertainty about the timing and/or amount of benchmark-based cash flows of the hedged item or the hedging instrument. These amendments have no impact on the consolidated financial statements of the Group as it does not have any interest rate hedge relationships.

Amendments to IAS 1 and IAS 8

Definition of Material

The amendments provide a new definition of material that states, “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 clarify that materiality will depend on the nature or magnitude of information, either individually or in combination with other information, in the context of the financial statements. A misstatement of information is material if it could reasonably be expected to influence decisions made by the primary users. These amendments had no impact on the consolidated financial statements of, nor is there expected to be any future impact, to the Group.

Conceptual Framework for Financial Reporting issued on March 29, 2018

The Conceptual Framework is not a standard, and none of the concepts contained therein override the concepts or requirements in any standard. The purpose of the Conceptual Framework is to assist the IASB in developing standards, to help preparers develop consistent accounting policies where there is no applicable standard in place and to assist all parties to understand and interpret the standards. This will affect those entities which developed their accounting policies based on the Conceptual Framework. The revised Conceptual Framework includes some new concepts, updated definitions and recognition criteria for assets and liabilities and clarifies some important concepts. These amendments 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 are disclosed below. The Group intends to adopt these new and amended standards and interpretations, if applicable, when they become effective.

Amendments to IFRS 17

Insurance Contracts

In June 2020, the IASB issued Amendments to 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

2023, 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.

Interest Rate Benchmark Reform – Phase 2 – Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16

On August 27, 2020, the IASB published

Interest Rate Benchmark Reform – Phase 2, Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16.

With publication of the phase two amendments, the IASB has completed its work in response to IBOR reform.

The amendments provide temporary reliefs which address the financial reporting effects when an interbank offered rate (IBOR) is replaced with an alternative nearly risk-free interest rate

(“RFR”).

The amendments include a practical expedient to require contractual changes, or changes to cash flows that are directly required by the reform, to be treated as changes to a floating interest rate, equivalent to a movement in a market rate of interest. Inherent in allowing the use of this practical expedient is the requirement that the transition from an IBOR benchmark rate to an RFR takes place on an economically equivalent basis with no value transfer having occurred. The practical expedient is required for entities applying IFRS 4 that are using the exemption from IFRS 9 (and, therefore, apply IAS 39) and for IFRS 16

Leases

, to lease modifications required by IBOR reform.

The amendments permit changes required by IBOR reform to be made to hedge designations and hedge documentation without the hedging relationship being discontinued. Permitted changes include redefining the hedged risk to reference an RFR and redefining the description of the hedging instruments and/or the hedged item to reflect the RFR. Entities are allowed until the end of the reporting period, during which a modification required by IBOR reform is made, to complete the changes.

The amendments provide temporary relief to entities from having to meet the separately identifiable requirement when an RFR instrument is designated as a hedge of a risk component. The relief allows entities upon designation of the hedge, to assume that separately identifiable requirement is met, provided the entity reasonably expects the RFR risk component to become separately identifiable within the next 24 months.

Additional disclosures

IFRS 7

Financial Instruments: Disclosures

includes the following:

•

How the entity is managing the transition to RFRs, its progress and the risks to which it is exposed arising from financial instruments due to IBOR reform.

•

Disaggregated by each significant IBOR benchmark, quantitative information about financial instruments that have yet to transition to RFRs

•

If IBOR reform has given rise to changes in the entity’s risk management strategy, a description of these changes

The amendments are effective for annual periods beginning on or after January 1, 2021 with earlier application permitted. While application is retrospective, an entity is not required to restate prior periods. The amendments are not expected to have a material impact on the Group.

Amendments to IAS 1:

Classification of Liabilities as Current or

Non-current

In January 2020, the IASB issued amendments to paragraphs 69 to 76 of IAS 1 to specify the requirements for classifying liabilities as current or

non-current.

The amendments clarify:

•

What is meant by a right to defer settlement

•

That a right to defer must exist at the end of the reporting period

•

That classification is unaffected by the likelihood that an entity will exercise its deferral right

•

That only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability not impact its classification

The amendments are effective for annual reporting periods beginning on or after January 1, 2023 and must be applied retrospectively. The Group is currently assessing the impact the amendments will have on current practice and whether existing loan agreements may require renegotiation.

Reference to the Conceptual Framework –

Amendments to IFRS 3

In May 2020, the IASB issued Amendments to IFRS 3

Business Combinations

- Reference to the Conceptual Framework. The amendments are intended to replace a reference to the Framework for the Preparation and Presentation of Financial Statements, issued in 1989, with a reference to the Conceptual Framework for Financial Reporting issued in March 2018 without significantly changing its requirements.

The Board also added an exception to the recognition principle of IFRS 3 to avoid the issue of potential “day 2” gains or losses arising for liabilities and contingent liabilities that would be within the scope of IAS 37 or IFRIC 21

Levies

, if incurred separately.

At the same time, the Board decided to clarify existing guidance in IFRS 3 for contingent assets that would not be affected by replacing the reference to the Framework for the Preparation and Presentation of Financial Statements.

The amendments are effective for annual reporting periods beginning on or after January 1, 2022 and apply prospectively. The amendments are not expected to have a material impact on the Group.

Property, Plant and Equipment: Proceeds before Intended Use –

Amendments to IAS 16

In May 2020, the IASB issued Property, Plant and Equipment — Proceeds before Intended Use, which prohibits entities deducting from the cost of an item of property, plant and equipment, any proceeds from selling items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Instead, an entity recognizes the proceeds from selling such items, and the costs of producing those items, in profit or loss.

The amendment is effective for annual reporting periods beginning on or after January 1, 2022 and must be applied retrospectively to items of property, plant and equipment made available for use on or after the beginning of the earliest period presented when the entity first applies the amendment. The amendments are not expected to have a material impact on the Group.

Onerous Contracts – Costs of Fulfilling a Contract –

Amendments to IAS 37

In May 2020, the IASB issued amendments to IAS 37 to specify which costs an entity needs to include when assessing whether a contract is onerous or loss-making.

The amendments apply a “directly related cost approach”. The costs that relate directly to a contract to provide goods or services include both incremental costs and an allocation of costs directly related to contract activities. General and administrative costs do not relate directly to a contract and are excluded unless they are explicitly chargeable to the counterparty under the contract.

The amendments are effective for annual reporting periods beginning on or after January 1, 2022. The Group will apply these amendments to contracts for which it has not yet fulfilled all its obligations at the beginning of the annual reporting period in which it first applies the amendments. The amendments are not expected to have a material impact on the Group.

IFRS 1

First-time Adoption of International Financial Reporting Standards

– Subsidiary as a first-time adopter

As part of its 2018-2020 annual improvements to IFRS standards process, the IASB issued an amendment to IFRS 1

First-time Adoption of International Financial Reporting Standards

. The amendment permits a subsidiary that elects to apply paragraph D16(a) of IFRS 1 to measure cumulative translation differences using the amounts reported by the parent, based on the parent’s date of transition to IFRS. This amendment is also applied to an associate or joint venture that elects to apply paragraph D16(a) of IFRS 1.

The amendment is effective for annual reporting periods beginning on or after January 1, 2022 with earlier adoption permitted. The amendments are not expected to have a material impact on the Group.

IFRS 9

Financial Instruments

– Fees in the “10 per cent” test for de-recognition of financial liabilities

As part of its 2018-2020 annual improvements to IFRS standards process the IASB issued amendment to IFRS 9. The amendment clarifies the fees that an entity includes when assessing whether the terms of a new or modified financial liability are substantially different from the terms of the original financial liability. These fees include only those paid or received between the borrower and the lender, including fees paid or received by either the borrower or lender on the other’s behalf. An entity applies the amendment to financial liabilities that are modified or exchanged on or after the beginning of the annual reporting period in which the entity first applies the amendment.

The amendment is effective for annual reporting periods beginning on or after

January 1,

2022 with earlier adoption permitted. The Group will apply the amendments to financial liabilities that are modified or exchanged on or after the beginning of the annual reporting period in which the entity first applies the amendment.

The amendments are not expected to have a material impact on the Group.

Amendments to IFRS 16

Covid-19 Related Rent Concessions

March 31, 2021

, the IASB issued

Covid-19-Related Rent Concessions

- amendment to IFRS 16

Leases

. The amendments provide relief to lessees from applying IFRS 16 guidance on lease modification accounting for rent concessions arising as a direct consequence of the Covid-19 pandemic. A lessee may elect not to assess whether a Covid-19 related rent concession from a lessor is a lease modification, if all the following conditions are met:

•

The change in lease payments results in revised consideration for the lease that is substantially the same as, or less than, the consideration for the lease immediately preceding the change;

•

Any reduction in lease payments affects only payments originally due on or before June 30, 202

; and

•

There is no substantive change to other terms and conditions of the lease.

The amendment applies to annual reporting periods beginning on or after April 1, 2021. Earlier application is permitted. The amendments are not expected to have a material impact on the Group.

IAS 41

Agriculture

– Taxation in fair value measurements

As part of its 2018-2020 annual improvements to IFRS standards process the IASB issued amendment to IAS 41

Agriculture

. The amendment removes the requirement in paragraph 22 of IAS 41 that entities exclude cash flows for taxation when measuring the fair value of assets within the scope of IAS 41.

An entity applies the amendment prospectively to fair value measurements on or after the beginning of the first annual reporting period beginning on or after January 1, 2022 with earlier adoption permitted. This standard is not applicable to the Group.

Significant accounting judgments, estimates and assumptions

12 Months Ended

Dec. 31, 2020

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 32)

•

Financial risk management objectives and policies (Note 31)

•

Sensitivity analyses disclosures (Note 12 and 31)

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 15.

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, 2019 and 2020 are RMB 423.0 million and RMB 400.2 million (US$61.8 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 incre

se by

RMB 157.6 million (US$24.3 million

) fo

ear ended December 31, 2020 (2019: RMB 162.0 million).

Development costs

Development costs are capitalized in accordance with the accounting policy in Note 2.3 (l). Capitalization of development costs is based on management’s judgement to determine what constitutes development activities, and when a development project moves from the research phase into development phase. In addition, management’s judgement is required to determine the nature of the expenses that qualify for capitalization.

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 eight to 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 12.

Investments in subsidiaries

12 Months Ended

Dec. 31, 2020

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
		31.12.2019		31.12.2020
		%		%

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.


	31.12.2018			31.12.2019			31.12.2020
Proportion of equity interest held by NCI
Yuchai		23.6	%		23.6	%		23.6	%


	31.12.2018 RMB’000		31.12.2019 RMB’000		31.12.2020 RMB’000		31.12.2020 US$’000
Accumulated balances of material NCI
Yuchai				2,603,227		2,624,933		405,627

Profit allocated to material NCI
Yuchai		252,394		254,284		229,231		35,423

Dividends paid to material NCI
Yuchai		135,905		207,514		207,514		32,067

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

non-controlling

interests are as follows:


	31.12.2018
	Yuchai RMB’000
Summarized statement of comprehensive income
Revenue		16,210,467

Profit after tax		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
Summarized statement of financial position
Current assets		16,444,627
Non-current assets, excluding goodwill		6,160,217
Goodwill		212,636
Current liabilities		(11,162,938	)
Non-current liabilities		(964,084	)

Net assets		10,690,458

Total equity		10,690,458

Attributable to NCI		2,603,227

Summarized statement of comprehensive income
Revenue		17,980,304

Profit after tax		825,807

Total comprehensive income for the year		828,861

Attributable to NCI		254,284

Summarized statement of cash flows
Operating		1,632,557
Investing		(858,904	)
Financing		(656,576	)

Net increase in cash and cash equivalents		117,077


	31.12.2020
	Yuchai
	RMB’000			US$’000
Summarized statement of financial position
Current assets		18,395,754			2,842,667
Non-current assets, excluding goodwill		6,722,233			1,038,776
Goodwill		212,636			32,858
Current liabilities		(13,035,680	)		(2,014,384	)
Non-current liabilities		(1,293,007	)		(199,806	)

Net assets		11,001,936			1,700,111

Total equity		11,001,936			1,700,111

Attributable to NCI		2,624,933			405,627

Summarized statement of comprehensive income
Revenue		20,557,660			3,176,743

Profit after tax		829,042			128,111

Total comprehensive income for the year		826,214			127,674

Attributable to NCI		229,231			35,423

Summarized statement of cash flows
Operating		1,476,034			228,089
Investing		(794,291	)		(122,741	)
Financing		(505,997	)		(78,191	)

Net increase in cash and cash equivalents		175,746			27,157

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 5,289.2 million (US$817.3 million) (2019: RMB 5,112.8 million) held in the PRC are subject to local exchange control regulations. These regulations place 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 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 joint ventures

12 Months Ended

Dec. 31, 2020

Investments accounted for using equity method [abstract]

5 .	Investment in joint ventures


	31.12.2018			31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			RMB’000			US$’000
Share of profit/(loss) of joint ventures, net of tax:
Y & C Engine Co., Ltd		17,612			28,484			(44,016	)		(6,802	)
MTU Yuchai Power Co., Ltd.		(6,882	)		594			3,238			500
Eberspaecher Yuchai Exhaust Technology Co., Ltd		—			(9,366	)		(19,157	)		(2,960	)
Other joint ventures.		963			(497	)		513			79

		11,693			19,215			(59,422	)		(9,183	)


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Carrying amount of investments:
Y & C Engine Co., Ltd		176,082		145,599		22,499
MTU Yuchai Power Co., Ltd		59,931		62,217		9,614
Eberspaecher Yuchai Exhaust Technology Co., Ltd (i )		31,794		12,638		1,953
Other joint ventures		6,184		6,666		1,030

		273,991		227,120		35,096

Note:

(i)

Eberspaecher Yuchai was incorporated on December 5, 2018. In March 2019 and December 2019, the Group injected RMB 17.6 million and RMB 23.5 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
				31.12.2019		31.12.2020
				%		%
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 2019 and 2020, the Group has performed an impairment evaluation of its investments in joint ventures and no impairment was required.


	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
	RMB’000			RMB’000			RMB’000			RMB’000
Non-current assets		774,046			78,362			24,001			876,409
Current assets
- Cash and bank balances		164,942			9,265			54,567			228,774
- Others		1,060,805			221,482			7,970			1,290,257

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

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

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

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

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

Carrying amount of other joint ventures											6,184

Carrying amount of the investment in joint ventures											273,991


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

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

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

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


	31.12.2020
	Y & C			MTU Yuchai Power			Eberspaecher Yuchai			Total			Total
	RMB’000			RMB’000			RMB’000			RMB’000			US$’000
Non-current assets		740,423			71,635			45,583			857,641			132,530
Current assets
- Cash and bank balances		160,844			43,056			2,273			206,173			31,860
- Others		1,287,935			266,123			43,895			1,597,953			246,929

Total assets		2,189,202			380,814			91,751			2,661,767			411,319

Non-current liabilities		(417,759	)		—			—			(417,759	)		(64,556	)
Current liabilities
- Others		(1,340,704	)		(244,963	)		(65,960	)		(1,651,627	)		(255,223	)

Total liabilities		(1,758,463	)		(244,963	)		(65,960	)		(2,069,386	)		(319,779	)

Equity		430,739			135,851			25,791			592,381			91,540

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

Group’s share of net assets		193,833			67,926			12,638
Unrealized profit on transactions with joint venture		(48,234	)		(5,709	)		—

Carrying amount of significant joint ventures		145,599			62,217			12,638			220,454			34,066

Carrying amount of other joint ventures											6,666			1,030

Carrying amount of the investment in joint ventures											227,120			35,096


	31.12.2020
	Y & C			MTU Yuchai Power			Eberspaecher Yuchai			Total			Total
	RMB’000			RMB’000			RMB’000			RMB’000			US$’000
Revenue		3,021,877			307,699			45,966			3,375,542			521,617
Depreciation and amortization		(59,406	)		(2,350	)		(360	)		(62,116	)		(9,599	)
Interest expense, net		(40,709	)		(1,983	)		—			(42,692	)		(6,597	)
Profit/(loss) for the year, representing total comprehensive income for the year		(88,785	)		6,421			(39,095	)		(121,459	)		(18,769	)

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

Group’s share of profit/(loss)		(39,953	)		3,211			(19,157	)
Unrealized profit on transactions with joint venture		(4,063	)		27			—

Group’s share of profit/(loss) of significant joint ventures		(44,016	)		3,238			(19,157	)		(59,935	)		(9,262	)

Group’s share of loss of other joint ventures, representing the Group’s share of total comprehensive loss of other joint ventures											513			79

Group’s share of profit for the year, representing the Group’s share of total comprehensive income for the year											(59,422	)		(9,183	)

Note:

As of December 31, 2020, the Group’s share of joint ventures’ capital commitment that are contracted but n

ot paid was

RMB 2.1 million (US$0.3 million)

(2019

: RMB

81.0 million).

As of December 31, 2020, the Group’s share of outstanding bills receivables discounted with banks for which Y & C retained a recourse obligation totaled RMB 40.1 million (US$6.2 million) (2019: RMB 45.0 million).

As of December 31, 2020, the Group’s share of outstanding bills receivables endorsed to suppliers for which Y & C retained a recourse obligation were RMB 58.4 million (US$9.0 million) (2019: RMB 11.4 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 30.4 millio

n (US$4.7 million) (2

019

: RMB 44.8

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 of December 31, 2020, the Group’s share of restricted ca

sh of

RMB 65.2 million (US$10.1 million)

(2019

: RMB 60.8 million) which was used as collateral by the banks for the issuance of bills to suppliers.

As of December 31

, 2020

, the Group’s share of bills receivables of

RMB 28.6 million (US$4.4 million)

(2019

: RMB 50.8 million) which was used as collateral by banks for the issuance of bills to suppliers.

Revenue from contracts with customers

12 Months Ended

Dec. 31, 2020

Revenue from contracts with customers

6 .	Revenue from contracts with customers

6 .1	Disaggregated revenue information

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


	31.12.2018
Segments	Yuchai		HLGE		Total
	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
Segments	Yuchai		HLGE		Total
	RMB’000		RMB’000		RMB’000
Type of goods or services
Heavy-duty engines		6,189,934		—		6,189,934
Medium-duty engines		5,583,982		—		5,583,982
Light-duty engines		2,429,248		—		2,429,248
Other products and services (i)		3,732,436		—		3,732,436
Revenue from hospitality operations		44,704		35,781		80,485

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

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

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

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

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


	31.12.2020
Segments	Yuchai		HLGE		Total		Total
	RMB’000		RMB’000		RMB’000		US$’000
Type of goods or services
Heavy-duty engines		6,725,312		—		6,725,312		1,039,252
Medium-duty engines		6,626,629		—		6,626,629		1,024,003
Light-duty engines		2,356,168		—		2,356,168		364,095
Other products and services (i)		4,809,921		—		4,809,921		743,269
Revenue from hospitality operations		39,630		23,510		63,140		9,757

Total revenue from contracts with customers		20,557,660		23,510		20,581,170		3,180,376

Geographical markets
People’s Republic of China		20,504,288		—		20,504,288		3,168,496
Other countries		53,372		23,510		76,882		11,880

Total revenue from contracts with customers		20,557,660		23,510		20,581,170		3,180,376

Timing of revenue recognition
At a point in time		20,518,030		—		20,518,030		3,170,619
Over time		39,630		23,510		63,140		9,757

Total revenue from contracts with customers		20,557,660		23,510		20,581,170		3,180,376

Note:

(i)

included sales of power generator sets, engine components, service-type

maintenance

services and others.

6 .2	Contract balances


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Trade receivables (Note 1 5 )		737,067		289,048		44,666
Capitalized contract cost		136,457		127,704		19,734
Contract liabilities (Note 2 4 )		436,622		935,462		144,556

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 service-type 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 service-type maintenance service) at the

year-end

is expected to be satisfied within

1-3

years.

The significant increase in contract liabilities as at December 31, 2020 was mainly due to increase in advance payment from customers as of the year-end for future product deliveries.

(a)

Set out below is the amount of revenue recognized from:


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Amounts include in contract liabilities		72,321		363,464		56,166

(b)

Capitalized contract costs


	31.12.2019			31.12.2020			31.12.2020
	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			136,457			21,086
Addition		93,549			24,147			3,731
Reclassified to development costs		—			(21,519	)		(3,325	)
Released to consolidated statement of profit or loss		(1,526	)		(11,381	)		(1,758	)

At December 31		136,457			127,704			19,734

6 .3	Performance obligations

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


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Within one year		127,326		112,454		17,377
More than one year		53,813		67,269		10,396
Total unfulfilled service-type maintenance service (Note 24)		181,139		179,723		27,773

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, 2020

Other income and expenses recognized in statement of profit and loss

7 .1	Depreciation, amortization, shipping and handling expenses

(a)

Depreciation and amortization expenses


	31.12.2018		31.12.2019		31.12.2020		31.12.2020
	RMB’ 000		RMB’000		RMB’000		US$’000
Amortization of intangible assets		—		1,012		1,012		156
Amortization of prepaid operating lease		12,724		—		—		—
Depreciation of investment property		884		380		376		58
Depreciation of property, plant and equipment		420,277		422,859		450,092		69,552
Depreciation of right-of-use assets (i)		—		40,958		43,127		6,664

		433,885		465,209		494,607		76,430

Note:

(i)

In 2020,

OVID

-19

related rent rebate received from lessors of RMB 0.2 million (

less than

US$ 0.1 million)

has

been offset against the depreciation of

right-of-use

assets.

Depreciation and amortization expenses are included in the following captions:


	31.12.2018		31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		RMB’000		US$’000
Cost of sales		312,769		315,445		327,866		50,664
Research and development expenses		26,751		16,470		26,815		4,144
Selling, general and administrative expenses		94,365		133,294		139,926		21,622

		433,885		465,209		494,607		76,430

(b)

Shipping and handling expenses

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


	31.12.2018		31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		RMB’000		US$’000
Selling, general and administrative expenses		211,971		221,255		237,683		36,729

7 .2	(a) Other operating income


	31.12.2018			31.12.2019		31.12.2020		31.12.2020
	RMB’000			RMB’000		RMB’000		US$’000
Interest income		147,244			177,261		166,970		25,801
Dividend income from quoted equity securities		1,992			959		166		26
Gain on disposal of:
- property, plant and equipment		8,835			—		—		—
- quoted equity securities		—			11,528		874		135
- right-of-use assets		—			9,237		2,574		398
Government grants		32,237			122,371		209,793		32,419
Fair value gain on quoted equity securities		—			1,118		—		—
Fair value gain on foreign exchange forward contract		4,529			—		999		154
Realised foreign exchange gain, net		5,306			3,604		1,390		215
Unrealised foreign exchange gain, net		(4,235	)		4,679		1,827		282
Others		9,235			16,404		15,676		2,423

		205,143			347,161		400,269		61,853

7 .2	(b) Other operating expenses


	31.12.2018		31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		RMB’000		US$’000
Fair value loss on quoted equity securities		3,433		—		1,196		185
Fair value loss on foreign exchange forward contract		—		5,529		—		—
Loss on disposal of property, plant and equipment		—		645		4,183		646
Provision for onerous contract		—		—		13,639		2,108
Others		9,030		2,501		2,304		356

		12,463		8,675		21,322		3,295

7 .3	Finance costs


	31.12.2018		31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		RMB’000		US$’000
Bank term loans		71,513		76,721		95,357		14,735
Bills discounting		36,826		47,212		49,738		7,686
Bank charges		4,749		4,945		3,877		599
Interest on lease liabilities (Note 1 7 )		—		2,918		2,198		340

		113,088		131,796		151,170		23,360

7 .4	Staff costs


	31.12.2018		31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		RMB’000		US$’000
Wages and salaries		1,176,465		1,122,712		1,364,751		210,893
Contribution to defined contribution plans		296,073		324,623		287,830		44,478
Executive bonuses		57,674		59,791		59,908		9,257
Staff welfare		76,689		82,692		94,982		14,677
Staff severance cost		28,018		15,454		19,712		3,046
Others		8,441		6,012		3,439		532

		1,643,360		1,611,284		1,830,622		282,883

Staff costs are included in the following captions:


	31.12.2018		31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		RMB’000		US$’000
Cost of sales		822,570		808,763		912,304		140,977
Research and development expenses		213,826		243,049		258,118		39,886
Selling, general and administrative expenses		606,964		559,472		660,200		102,020

		1,643,360		1,611,284		1,830,622		282,883

Income tax expense

12 Months Ended

Dec. 31, 2020

8 .	Income tax expense

The major components of income tax expense for the years ended December 31, 2018, 2019 and 2020 are as follows:


	31.12.2018			31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			RMB’000			US$’000

Current income tax
- Current year		209,448			193,878			180,254			27,854
- Over provision in respect of prior years		(729	)		(6,985	)		(124	)		(19	)
Deferred tax
- Movement in temporary differences		(2,052	)		(14,274	)		12,543			1,938
- Over provision in respect of prior years		—			—			(135	)		(20	)

Consolidated income tax expense reported in the statement of profit or loss		206,667			172,619			192,538			29,753

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, 2018, 2019 and 2020 for the following reasons:


	31.12.2018			31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			RMB’000			US$’000

Accounting profit before tax		1,181,067			1,033,319			971,864			150,180
Computed tax expense at 15% (2019: 15%, 2018: 15%)		177,160			154,998			145,780			22,527
Adjustments resulting from:
Non-deductible expenses		5,146			3,982			9,188			1,420
Tax-exempt income		(3,634	)		(6,171	)		(601	)		(93	)
Utilization of deferred tax benefits previously not recognized		(5,518	)		(5,076	)		(1,996	)		(308	)
Deferred tax benefits not recognized		2,183			6,613			6,097			942
Tax credits for research and development expense		(22,407	)		(31,863	)		(26,329	)		(4,068	)
Tax rate differential		24,437			26,223			24,251			3,747
Over provision in respect of previous years		(729	)		(6,985	)		(259	)		(39	)
Withholding tax expense		30,029			30,898			36,332			5,614
Others		—			—			75			11

Total		206,667			172,619			192,538			29,753

Deferred tax

Deferred tax relates to the following:


	Consolidated statement of financial position									Consolidated statement of profit or loss
	31.12.2019			31.12.2020			31.12.2020			31.12.2018			31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			US$’000			RMB’000			RMB’000			RMB’000			US$’000

Accelerated tax depreciation		(44,920	)		(100,802	)		(15,577	)		(12,432	)		(17,366	)		(55,882	)		(8,635	)
Interest receivable		(1,644	)		(1,937	)		(299	)		(1,478	)		608			(293	)		(45	)
PRC withholding tax on dividend income (i)		(106,922	)		(112,456	)		(17,378	)		(29,842	)		(30,721	)		(36,255	)		(5,602	)
Impairment of property, plant and equipment		6,648			40,104			6,197			3,624			(9,295	)		33,456			5,170
Write-down of inventories		18,403			22,628			3,497			(1,433	)		2,343			4,225			653
Allowance for doubtful account receivables		10,077			8,056			1,245			(2,199	)		4,900			(2,021	)		(312	)
Accruals		250,662			298,766			46,168			(186	)		46,108			48,149			7,440
Deferred income		107,731			108,942			16,834			43,820			12,232			1,211			187
Others		29,439			24,441			3,777			2,178			5,465			(4,998	)		(774	)

Deferred tax benefits/(expenses)											2,052			14,274			(12,408	)		(1,918	)

Net deferred tax assets		269,474			287,742			44,464

Reflected in the consolidated statement of financial position as follows:
Deferred tax assets		422,960			400,198			61,842
Deferred tax liabilities		(153,486	)		(112,456	)		(17,378	)

		269,474			287,742			44,464

Note:

(i)

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


	31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			US$’000

At January 1		(106,922	)		(106,922	)		(16,522	)
Provision made to consolidated statement of profit or loss		(30,721	)		(36,255	)		(5,602	)
Utilization		30,721			30,721			4,746

December 31		(106,922	)		(112,456	)		(17,378	)

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, 2020, the deferred tax liability for withholding tax payable was RMB 112.5 million (US$17.4 million) (2019: RMB 106.9 million). The amount of unrecognized deferred tax liability relating to undistributed earnings of the PRC enterprises is

stimated

to be

RMB 236.4 million (US$36.5 million)

(2019

RMB 253.5

million).

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


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Unutilized tax losses		414,226		404,215		62,463
Unutilized capital allowances and investment allowances		107,613		105,622		16,322
Other unrecognized temporary differences relating to asset impairment and deferred grants		215,296		204,423		31,589

		737,135		714,260		110,374

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,

respectivel

. 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, 2020

Earnings per share

9 .	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:


	31.12.2018		31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		RMB’000		US$’000
Profit attributable to ordinary equity holders of the parent		695,266		604,914		548,903		84,821

Weighted average number of ordinary shares		40,858,290		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:


	31.12.2018		31.12.2019		31.12.2020
Weighted average number of shares issued, used in the calculation of basic earnings per share		40,858,290		40,858,290		40,858,290
Diluted effect of share options		—		—		—

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

In 2020, 470,000 (2019: 470,000; 2018: 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.

There have been no other transactions involving ordinary shares or potential ordinary share since the reporting date and before the completion of these financial statements.

Property, plant and equipment

12 Months Ended

Dec. 31, 2020

Property, plant and equipment


	Freehold land RMB’000			Leasehold 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, 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 and January 1, 2020		14,836			2,376,090			1,037,035			5,285,022			195,154			112,501			9,020,638
Additions		—			16,273			487,725			20,617			14,066			16,166			554,847
Disposals		—			(4,664	)		—			(260,996	)		(3,604	)		(4,742	)		(274,006	)
Transfers		—			75,264			(823,981	)		741,218			7,323			176			—
Write-off		—			(9,759	)		—			(53,917	)		(8,983	)		(912	)		(73,571	)
Translation difference		(744	)		(3,825	)		(63	)		(459	)		(866	)		(131	)		(6,088	)

At December 31, 2020		14,092			2,449,379			700,716			5,731,485			203,090			123,058			9,221,820


Accumulated depreciation and impairment
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 and January 1, 2020		513			848,803			—			3,739,750			151,710			69,418			4,810,194
Charge for the year		—			92,034			—			357,434			19,913			8,939			478,320	*
Disposals		—			(1,102	)		—			(253,121	)		(3,218	)		(4,058	)		(261,499	)
Write-off		—			(4,660	)		—			(51,910	)		(8,719	)		(865	)		(66,154	)
Impairment loss		—			—			—			3,920			—			—			3,920
Translation difference		(26	)		(685	)		—			(269	)		(651	)		(90	)		(1,721	)

At December 31, 2020		487			934,390			—			3,795,804			159,035			73,344			4,963,060


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

At December 31, 2020		13,605			1,514,989			700,716			1,935,681			44,055			49,714			4,258,760

US$’000		2,102			234,109			108,280			299,118			6,808			7,683			658,100

In 2020, RMB 28.2 million (US$4.4 million) (2019: RMB 21.6 million) and RMB Nil

(US$

Nil)

(

019: RMB 8.8 million) were capitalized as intangible assets and capitalized contract cost, respectively.

An impairment loss of RMB 3.9 million (US$0.6 million) (2019: RMB 4.0 million; 2018: RMB 30.2 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 was due to assets that were not in use.

As of December 31, 2019 and 2020, there was no property, plant and equipment pledged to secure bank facilities.

Investment property

12 Months Ended

Dec. 31, 2020

Investment property


	31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			US$’000

Cost
At January 1		33,972			34,940			5,399
Translation difference		968			(1,753	)		(271	)

At December 31		34,940			33,187			5,128


Accumulated depreciation
At January 1		27,207			28,388			4,387
Charge for the year		380			376			58
Translation difference		801			(1,406	)		(218	)

At December 31		28,388			27,358			4,227


Net carrying amount		6,552			5,829			901

Fair value		11,419			11,954			1,847

Consolidated statements of profit or loss:
Rental income from an investment property		375			230			36
Direct operating expenses (including repairs, maintenance and depreciation expense) arising from the rental generating property		(294	)		(180	)		(28	)

The Group has no restrictions on the realizable 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 assessor. 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):

Intangible assets

12 Months Ended

Dec. 31, 2020

Intangible assets

12.	Intangible assets


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

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

At December 31, 2019 and January 1, 2020		136,822		562,587		218,311		169,811		1,087,531
Addition		—		530,836		—		—		530,836

At December 31, 2020		136,822		1,093,423		218,311		169,811		1,618,367


Accumulated amortization and impairment
At January 1, 2019		126,700		—		5,675		—		132,375
Amortization		1,012		—		—		—		1,012

At December 31, 2019 and January 1, 2020		127,712		—		5,675		—		133,387
Amortization		1,012		—		—		—		1,012

At December 31, 2020		128,724		—		5,675		—		134,399


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

At December 31, 2020		8,098		1,093,423		212,636		169,811		1,483,968

US$’000		1,251		168,965		32,858		26,241		229,315

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:


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000

Yuchai		212,636		212,636		32,858

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 12.37% (2019: 13.32%) and cash flows beyond the ten-year period are extrapolated using a 6% growth rate (2019: 5.7%) that is the same as the long-term average growth rate for PRC. No impairment was identified for this unit.

Key assumptions used for value in use calculations

Key assumptions used in estimation of value in use were as follows:

•

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 Yuch

ai are

6.0

% an

d 5.7% for 2020 and 2019 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

13.99

(2019: 17.57%) would result in impairment.

Discount rate – A rise in

pre-tax

discount rate to

13.58

(2019: 14.79%) 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

3.60

(2019: 2.40%) 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 of December 31, 2017 was reclassified as the Group’s technology

know-how.

In late 2018, the Group has commenced the production of 4Y20 engine. Since 2019 the production volume has gradually ramped up to meet the market demand and management believe that there is no indicator for further impairment in 2019 and 2020. Management has also considered there is no significant changes in the market and economic that will have a favorable effect to the recoverable amount of the intangible asset and had concluded that there is no reversal of impairment to be recognized in 2020.

Development costs

During 2019 and 2020, the Group has capitalized development costs of RMB 366.7 million and RMB 530.8 million (US$ 82.0 million), respectively, for new engines that comply with National VI and Tier 4 emission standards. As of December 31, 2020, the total capitalized development costs

are

RMB 1,093.4 million (US$ 169.0 million). These development costs relate to on-going development efforts and, accordingly, have not yet been available for use, and therefore no amortization charges were recorded.

In 2019 and 2020, the Group performs an impairment test on the development costs that are not available for 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 2019, the Group used 10 years forecast and in 2020, in view of current speed of technological change, management shortened the projection period to eight years. Both the 2019 and 2020 cash flow forecasts were based on the updated financial budgets approved by the senior management with no terminal value.

Key assumptions used in estimation of value in use were as follows:

•

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. In 2020, the revised business plan projected 8 years, the revenue growth rate is estimated at around 10% year-on-year from 2021 to 2023 due to enforcement of implementation of new emission standard, and decrease to 5% in 2024 and 2025. Management assumed no revenue growth from 2026 to 2028 after reaching the commercial deployment of technology. In 2019, the revenue was estimated to grow significantly from 2020 to 2022, and the growth expected to decrease to 10% to 15% from 2023 to 2025, and subsequently remain at a constant growth rate of 10% from 2026 to 2029.

•

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

25.94%

(2019: 4.53

%) would result in impairmen

Discount rate – A rise in

pre-tax

discount rate

20.05

(2019: 14.13%) would result in impairmen

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.

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 and 2020, 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 and 2020.

Inventories

12 Months Ended

Dec. 31, 2020

Inventories

Inventorie


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Raw materials		1,500,034		1,940,119		299,804
Work in progress		35,688		33,211		5,132
Finished goods		1,288,415		2,497,865		385,991

Total inventories at the lower of cost and net realizable value		2,824,137		4,471,195		690,927


	31.12.2018			31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			RMB’000			US$’000
Inventories recognized as an expense in cost of sales		11,471,988			13,167,181			15,501,807			2,395,470
Inclusive of the following charge/(credit):
- Inventories written down		25,194			31,810			82,386			12,731
- Reversal of write-down of inventories		(33,662	)		(14,788	)		(54,408	)		(8,408	)

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

Other current assets

12 Months Ended

Dec. 31, 2020

Other assets

Other

curren

assets


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Current
Development properties (i)		17,721		16,906		2,612
Quoted equity securities (ii)		9,235		6,258		967

		26,956		23,164		3,579

Note:

(i)

In 2020, no impairment loss

was record

on development properties. In 2019, an impairment loss of RMB 3.0 million on development properties 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 2020, the Group has disposed some of the quoted equity securities for consideration of RMB 1.4 million (US$0.2 million) (2019: RMB 16.4 million) and gain on disposal of RMB 0.9 million (US$0.1 million) (2019: RMB 11.5 million) was recognized in consolidated statement of profit or loss under “

ther operating income”.

Trade and other receivables

12 Months Ended

Dec. 31, 2020

Trade and other receivables

15.	Trade and other receivables


	31.12.2019 RMB’000			31.12.2020 RMB’000			31.12.2020 US$’000
Trade receivables, gross		794,678			332,567			51,391
Less: Allowance for expected credit losses		(57,611	)		(43,519	)		(6,725	)

Net trade receivables (Note 6.2)		737,067			289,048			44,666
Bills receivable (i)		7,005,234			7,793,343			1,204,293

Total (Note 34)		7,742,301			8,082,391			1,248,959

Amounts receivable:
- associates and joint ventures (trade)		609			1,266			196
- associates and joint ventures (non-trade)		11,185			11,119			1,718
- related parties (trade)		73,243			9,663			1,493
- related parties (non-trade)		2,092			2,992			462
Staff advances		7,133			3,326			514
Interest receivables		12,224			4,999			772
Bills receivable in transit		8,700			12,620			1,950
Refundable deposits		2,131			283			44
Others		49,218			36,668			5,667
Less: Impairment losses – other receivables (ii)		(5,243	)		(6,741	)		(1,042	)

Other receivables carried at amortized cost (Note 34)		161,292			76,195			11,774
Tax recoverable		223,652			236,400			36,531
Prepayments		63,048			64,102			9,906

Net other receivables		447,992			376,697			58,211

Total trade and other receivables		8,190,293			8,459,088			1,307,170

Note:

(i)

As of December 31, 2020, bills receivable includes bills received from related parties amounted to RMB 1,014.1 million (US$156.7 million) (2019: RMB 1,050.7 million) respectively.

As of December 31, 2019 and 2020, there was no bills receivable pledged to secure bank facilities.

(ii)

This comprised of impairment loss on bills receivable in transit of RMB 6.5 million (US$1.0 million) as of December 31, 2020 (2019: RMB 5.0 million). 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.

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:


	31.12.2019 RMB’000			31.12.2020 RMB’000			31.12.2020 US$’000

At January 1		30,586			62,854			9,713
Debit/(credit) to consolidated statement of profit or loss (under “Selling, general and administrative expenses”)		32,340			(12,349	)		(1,908	)
Written off		(62	)		(242	)		(37	)
Translation difference		(10	)		(3	)		(1	)

At December 31		62,854			50,260			7,767

As of December 31, 2019 and 2020, outstanding bills receivable discounted with banks for which the Group retained a recourse obligation totaled RMB 2,268.4 million and RMB 2,225.1 million (US$343.8 million) respectively. All bills receivable discounted have contractual maturities within 12 months at time of discounting.

As of December 31, 2019 and 2020, outstanding bills receivable endorsed to suppliers with recourse obligation were RMB 1,120.3 million and RMB 1,834.5 million (US$283.5 million) respectively.

As of December 31, 2019 and 2020, gross trade receivables due from a major customer group, Dongfeng Automobile Co., Ltd. and its affiliates (the “Dongfeng companies”) were RMB 136.4 million and RMB 17.6 million (US$2.7 million), respectively. See Note 31 for further discussion of customer concentration risk.

For terms and conditions relating to related parties, refer to Note 28.

Cash and cash equivalents

12 Months Ended

Dec. 31, 2020

Cash and cash equivalents

Long-term bank deposits

Short-term bank deposits

Restricted cash


	31.12.2019 RMB’000		31.12.2020 RMB’000		31.12.2020 US$’000
Non-current
Long-term bank deposits (i)		50,000		140,000		21,634

Current
Cash and cash equivalents		5,753,268		5,877,647		908,264
Short-term bank deposits (ii)		356,543		258,756		39,985
Restricted cash		231,107		171,135		26,445

		6,340,918		6,307,538		974,694

Cash and bank balances		6,390,918		6,447,538		996,328

Note:

(i)

In 2020, YMMC has placed new three-year time deposits of RMB 90.0 million (US$13.9 million) (2019: RMB 50.0 million) at annual interest rate range from 3.85% to 3.99% (2019: 3.99% to 4.13%) with certain banks. These long-term deposits are not considered to be cash equivalents.

(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, 2020 for the Group ranged from 0.23% to 2.25% (2019: 1.78% to 3.65%). 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 of December 31, 2020 for the Group ranged from 0.1% to 1.55% (2019: 1.50% to 3.15%).

As at December 31, 2020, there is fixed deposits of RMB130.8 million (US$ 20.2 million) held with a related party (2019: Nil).

As of December 31, 2020, the Group’s restricted cash of RMB 171.1 million (US$26.4 million) (2019: RMB 231.1 million) was used as collateral by the banks for the issuance of bills to suppliers.

As of December 31, 2019 and 2020, the Group had RMB 295.0 million and RMB 491.9 million (US$76.0 million) respectively, of undrawn borrowing facilities in respect of which all conditions precedent had been met. The commitment fees incurred for 2018, 2019 and 2020 were RMB 0.2 million, RMB 0.2 million and less than RMB 0.1 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:


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000

Cash at banks and on hand		5,205,605		5,466,288		844,697
Short-term bank deposits (i)		547,663		411,359		63,567

Cash and cash equivalents		5,753,268		5,877,647		908,264

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, 2020

leases

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

are

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		369,925			76,644			39			446,608			69,014
Addition		—			11,473			—			11,473			1,773
Depreciation expenses		(14,347	)		(26,597	)		(14	)		(40,958	)		(6,329	)
Disposal		(1,771	)		—			—			(1,771	)		(274	)
Translation difference		—			36			(4	)		32			5

At December 31, 2019 and January 1, 2020		353,807			61,556			21			415,384			64,189
Addition		2,058			13,198			—			15,256			2,357
Depreciation expenses		(14,102	)		(29,182	)		(14	)		(43,298	)		(6,691	)
Disposal		(3,198	)		—			—			(3,198	)		(494	)
Translation difference		—			(142	)		(1	)		(143	)		(22	)

At December 31, 2020		338,565			45,430			6			384,001			59,339

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


	2019			2020			2020
	RMB’000			RMB’000			US$’000
At January 1		96,852			60,007			9,273
Additions		11,473			15,256			2,357
Accretion of interest (Note 7 .3)		2,918			2,198			340
Payments		(51,283	)		(37,561	)		(5,805	)
Translation difference		47			(122	)		(18	)

At December 31		60,007			39,778			6,147


Current (Note 2 5 )		28,633			22,755			3,516
Non-current (Note 2 5 )		31,374			17,023			2,631

Total		60,007			39,778			6,147

The maturity analysis of lease liabilities is disclosed in Note 2

The following are the amounts recognized in profit of loss:


	2019 RMB’000		2020 RMB’000		2020 US$’000

Depreciation charge for right-of-use assets		40,958		43,127		6,664
Interest expenses on lease liabilities (Note 7 .3)		2,918		2,198		340
Expenses relating to short-term leases (included in selling, general and administrative costs and research and development cost)		14,341		14,313		2,212

Total amount recognized in profit or loss		58,217		59,638		9,216

In 2020, the Group had total cash outflows for leases of RMB 51.9 million (US$8.0 million) (2019: RMB 65.6 million). The Group also had

non-cash

additions to

right-of-use

assets and lease liabilities of RMB 15.3 million (US$2.4 million) in 2020 (2019:

RMB

11.5 million). The future cash outflows relating to leases that have not yet commenced are disclosed in Note

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 betwe

to 15 years. Rental income recognized by the Group during the year is

RMB 13.3 million (US$ 2.1 million)

(

2019

: RMB 11.9

million)

Future minimum rental receivables under

non-cancellable

operating leases as of 31 December are as follows:


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Within 1 year
- related parties		1,787		902		139
- joint venture		2,691		2,590		400
- third parties		892		5,058		782
After 1 year but within 5 years
- related parties		660		—		—
- joint venture		10,526		10,720		1,657
- third parties		1,504		13,305		2,056
After than 5 years
- joint venture		5,643		14,141		2,185
- third parties		889		4,392		679

		24,592		51,108		7,898

Issued capital

12 Months Ended

Dec. 31, 2020

Issued capital

31.12.2019
thousands

31.12.2020
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, 201

, December 31, 20

and December 31, 20

40,858,290

2,081,138

US$’000

321,595

31.12.2019
RMB’000

31.12.2020
RMB’000

31.12.2020
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, 2020

Dividends declared and paid

19 .	Dividends declared and paid


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000

Declared and paid during the year
Dividends on ordinary shares:
Final dividend paid in 2020: US$0.85 per share (2019: US$0.85 per share)		238,758		245,871		37,994

Dividend paid in cash		238,758		245,871		37,994

Reserves

12 Months Ended

Dec. 31, 2020

Reserves


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000

Statutory reserve
Statutory general reserve (i)
At January 1		276,698		278,601		43,052
Transfer from retained earnings		1,903		2,858		442

At December 31		278,601		281,459		43,494


General surplus reserve (ii)
At January 1 and December 31		25,706		25,706		3,972

Total		304,307		307,165		47,466


Capital reserves (iii)
At January 1 and December 31		30,704		30,704		4,745

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.


	31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			US$’000

Other components of equity
Foreign currency translation reserve (i)		(36,091	)		(89,925	)		(13,896	)
Performance shares reserve (ii)		19,758			19,758			3,053
Premium paid for acquisition of non-controlling interests		(11,472	)		(11,472	)		(1,773	)
Fair value reserve of financial assets at FVOCI (iii)		(77,617	)		(79,720	)		(12,319	)

Total		(105,422	)		(161,359	)		(24,935	)

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, 2020

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.

In 2020,

there was

no expense arising from equity-settled share-based payment transactions. (2018: Nil; 2019: Nil).

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
	31.12.2019		31.12.201 9		31.12.2020		31.12.20 20

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 of December 31, 2020 was US$21.11 dollar (2019: US$21.11 dollar).

The weighted average remaining contractual life for the share options outstanding as of December 31, 2020 was 3.6 (2019: 4.6) 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, 2020

Trade and other payables


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000

Current
Trade payables		2,953,479		3,406,398		526,385
Bills payables (i)		2,764,013		3,348,163		517,386
Other payables		543,970		533,705		82,473
Accrued expenses		203,133		233,053		36,013
Accrued staff costs		653,854		714,701		110,442
Refund liabilities		757,655		1,031,562		159,406
Dividend payable		47,480		49,468		7,644
Amount due to:
- associates and joint ventures (trade)		258,964		467,351		72,219
- associates and joint ventures (non-trade)		81		205		32
- related parties (trade)		221,413		238,622		36,874
- related parties (non-trade)		4,016		1,841		284

Financial liabilities carried at amortized cost (Note 31, Note 3 4 )		8,408,058		10,025,069		1,549,158

Deferred grants (Note 2 7 )		19,952		23,468		3,626
Advance from customers		383		320		50
Other tax payable		39,698		62,111		9,598

Total trade and other payables (current)		8,468,091		10,110,968		1,562,432

(i)

As of December 31, 2020, the bills payables include bills payable to joint ventures, associates and other related parties amounted to

RMB 105.6 million (US$16.3 million)

(2019: RMB 125.0 million),

RMB 12.9 million (US$2.0 million)

(2019: RMB 10.1 million) and

RMB 249.0 million (US$38.5 million)

(

2019: RMB 232.6 million) respectivel


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000

Non-current
Other payables (i) (Note 31, Note 34 )		176,302		191,563		29,602

(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 2

Provision

12 Months Ended

Dec. 31, 2020

Provision


	Provision for warranty			Provision for onerous contract			Total			Total
	RMB’000			RMB’000			RMB’000			US$’000
At January 1, 2019		166,913			—			166,913			25,793
Provision made		421,905			2,316			424,221			65,554
Provision utilized		(373,103	)		—			(373,103	)		(57,655	)

At December 31, 2019 and January 1, 2020		215,715			2,316			218,031			33,692
Provision made		335,664			13,639			349,303			53,977
Provision utilized		(295,940	)		—			(295,940	)		(45,731	)
Provision reversed		—			(2,316	)		(2,316	)		(358	)

At December 31, 2020		255,439			13,639			269,078			41,580

Contract liabilities

12 Months Ended

Dec. 31, 2020

Contract liabilities

24.	Contract liabilities


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000


Unfulfilled service-type maintenance services		181,139		179,723		27,773
Advance from customer		255,483		755,739		116,783

Total		436,622		935,462		144,556

Current		382,809		868,193		134,161
Non-current		53,813		67,269		10,395

Total contract liabilities (Note 6 .2)		436,622		935,462		144,556

Lease liabilities

12 Months Ended

Dec. 31, 2020

Lease liabilities [abstract]

Lease liabilities


	Effective interest rate		Maturity		31.12.2019		31.12.2020		31.12.2020
	%				RMB’000		RMB’000		US$’000
Current (Note 1 7 )		1.25% - 6.20%		2021		28,633		22,755		3,516

Non- current (Note 1 7 )		1.25% - 6.20%		2022-2026		31,374		17,023		2,631

Other financial liabilities

12 Months Ended

Dec. 31, 2020

Other financial liabilities

(a)

Other liabilities


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Current:
Derivative not designated as hedges – foreign exchange forward contract		999		—		—

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

with

maturity date of

December 8, 2020. The Group accounted for this NDF at fair value through profit or loss.

(b)

Loans and borrowings


	Effective interest rate		Maturity		31.12.2019
	%				RMB’000

Current
Renminbi denominated loans		3.70 – 4.13		2020		1,900,000
US dollar denominated loans		2.52		2020		139,524
Singapore Dollar denominated loans (ii)		2.84		2020		15,522

						2,055,046


	Effective interest rate		Maturity		31.12.2020		31.12.2020
	%				RMB’000		US$’000

Current
Renminbi denominated loans		1.80 – 4.05		2021		1,730,000		267,334


Non-current
Renminbi denominated loans		3.30		2022		500,000		77,264

Note:

(i)

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


(ii)	Issuer bank	Facility limit		Usage
				RMB’000

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

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 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 June 10, 2020, the Company entered into an uncommitted and unsecured multi-currency revolving credit facility agreement with MUFG for an aggregate value of S$30.0 million to refinance the S$30.0 million facility that matured on March 17, 2020. The facility is available for three years from the date of the facility agreement and will be used to finance the Company’s 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 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) not being less than US$120 million at all times and the ratio of the Company’s total net debt (as defined in the agreement) to tangible net worth not exceeding

2.0 times

at all times, as well as negative pledge provisions and customary drawdown requirements.

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

On June 24, 2020, the Company entered into an uncommitted and unsecured multi-currency short-term 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, 2020. The maximum tenor of each drawdown under the facility is 6 months and will be utilized by the Company to finance its 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 subsidiary 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 of 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 of June 30 and December 31 of each year not exceeding

2.0 times

, as well as negative pledge provisions and customary drawdown requirements.

Deferred grants

12 Months Ended

Dec. 31, 2020

Deferred grants


	31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			US$’000

At January 1		607,608			676,728			104,574
Received during the year		187,096			52,241			8,072
Grant receivable		—			129			20
Grant disbursed to partner of joint project		—			(48,632	)		(7,515	)
Released to consolidated statement of profit or loss		(117,976	)		(138,856	)		(21,457	)

At December 31		676,728			541,610			83,694


Current (Note 2 2 )		19,952			23,468			3,626
Non-current		656,776			518,142			80,068

		676,728			541,610			83,694

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

As at December 31, 2020, RMB 271.6 million (US$42.0 million) (2019: RMB 434.8 million) of the deferred grants are related to assets.

The grant receivable is related to the Job Support Scheme (the “JSS”) that was introduced in Singapore in response to COVID-19 coronavirus pandemic. The JSS is temporary scheme introduced to help the enterprises retain local employees during the period of economic uncertainty. Under the JSS, employers will receive cash grants in relation to the gross monthly wages of eligible employees. In 2020, JSS grant income amounted to

RMB 1.1 million (US$ 0.2

million) was released to the consolidated statement of profit or loss under “Other income”.

Related party disclosures

12 Months Ended

Dec. 31, 2020

Related party disclosures

The ultimate parent

As of December 31, 2020, the controlling shareholder of the Company, HLA, indirectly owned 18,270,965, or 44.7% (2019: 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% (2019: 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 21.4% (2019: 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 0.3 million (less than US$0.1

million) (2019: RMB 0.03 million; 2018: RMB 0.03 million) during the financial years ended December 31, 2018, 2019 and 2020 respectively. The transaction relates to consultancy fees charged by HLA.

Entity with significant influence over the Group

As of December 31, 2020, the Yulin City Government through Coomber Investment Ltd. owned 17.2% (2019: 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.


	31.12.2018		31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		RMB’000		US$’000

Sales of engines and materials
- associates and joint ventures		439,106		912,877		1,256,268		194,129
- GY Group (including its subsidiaries and affiliates)		406,422		1,792,280		2,637,845		407,622
Purchase of material, supplies and engines
- associates and joint ventures		1,192,322		1,999,831		2,792,707		431,553
- GY Group (including its subsidiaries and affiliates)		1,589,638		1,895,239		1,245,030		192,393
Hospitality, restaurant, consultancy and other service income charged to
- a joint venture		3,456		3,984		3,918		605
- GY Group (including its subsidiaries and affiliates)		24,015		15,350		6,765		1,045
Rental income
- a joint venture		1,937		3,206		4,565		705
- GY Group (including its subsidiaries and affiliates)		3,886		2,133		3,970		613
Property management service expenses
- GY Group (including its subsidiaries and affiliates)		26,547		22,595		24,968		3,858
Leasing expenses (i)
- GY Group (including its subsidiaries and affiliates)		25,705		—		—		—
Selling, general and administrative expenses
- a joint venture		—		—		7,287		1,126
- GY Group (including its subsidiaries and affiliates)		21,607		19,953		4,728		731
- HLA (including its affiliates)		6,639		6,788		6,687		1,033
Delivery, storage, distribution and handling expenses
- GY Group (including its subsidiaries and affiliates)		228,195		304,532		312,891		48,351
Payment for trademarks usage fee
- GY Group		—		169,811		—		—
Payment for lease liabilities
- GY Group (including its subsidiaries and affiliates)		—		33,594		18,086		2,795
Purchases of vehicles and machineries
- GY Group (including its subsidiaries and affiliates)		6,144		2,817		2,838		439

Note:

(i)

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 of December 31, 2019

and

2020.

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.

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

Compensation of key management personnel of the Group


	31.12.2018		31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		RMB’000		US$’000
Short-term employee benefits		39,703		41,606		43,178		6,672
Contribution to defined contribution plans		335		362		292		45

		40,038		41,968		43,470		6,717

The

non-executive

directors do not receive pension entitlements from the Group.

Commitments and contingencies

12 Months Ended

Dec. 31, 2020

Commitments and contingencies

29 .	Commitments and contingencies

Operating lease commitments - Group as lessee

The Group has various lease contracts that have not yet commenced as of December 31,

2019 and

2020. The future lease payments

for

these

non-cancellable

lease contracts are as follows:


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Within 1 year		105		321		50
After 1 year but within 5 years		85		1,628		252
After 5 years		—		71		11

		190		2,020		313

The Group has entered into certain lease contracts in which the lease of these assets will be commencing in 2021. The Group has disclosed these as operating lease commitments as at year end.

Capital commitments

As of December 31, 2019 and 2020, Yuchai had capital expenditure (mainly in respect of property, plant and equipment) contracted for but not paid and not recognized amounting to RMB 594.0 million and

RMB 450.0 million (US$69.5 million)

respectively. The Group’s share of joint venture’s capital commitment is disclosed in Note

Investment commitments

As of December 31, 2019 and 2020, the Group has commitment of RMB 17.6

mil

ion

and

RMB 17.6 million (US$2.7 million)

relating to the Group’s interest in joint venture, respectively.

Letter of credits

As of December 31, 2019 and 2020, Yuchai had issued irrevocable letter of credits of RMB 30.8 million and RMB 54.4 million (US$8.4 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, 2020

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, 2018	Yuchai			HLGE			Corporate			Eliminations/ adjustment			Consolidated financial statements
	RMB’000			RMB’000			RMB’000			RMB’000			RMB’000

Revenue
Total external revenue (Note 6 .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
	RMB’000			RMB’000			RMB’000			RMB’000			RMB’000

Revenue
Total external revenue (Note 6 .1)		17,980,304			35,781			—			—			18,016,085


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

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

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

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

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


Year ended December 31, 2020	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 6 .1)		20,557,660			23,510			—			—			20,581,170			3,180,376


Results
Interest income		158,569			3,538			4,863			—			166,970			25,801
Interest expense		(147,161	)		(35	)		(97	)		—			(147,293	)		(22,761	)
Impairment of property, plant and equipment		(3,920	)		—			—			—			(3,920	)		(606	)
Staff severance cost		(19,712	)		—			—			—			(19,712	)		(3,046	)
Depreciation and amortization		(488,536	)		(5,181	)		(890	)		—			(494,607	)		(76,430	)
Share of profit of associates and joint venture		(59,476	)		506			—			—			(58,970	)		(9,113	)
Income tax expense		(156,007	)		(200	)		(69	)		(36,262	) (1)		(192,538	)		(29,753	)

Segment profit after tax		829,042			1,052			(17,127	)		(33,641	) (1)		779,326			120,427

Total assets		25,330,625			392,096			2,075,262			(1,507,025	)		26,290,958			4,062,701

Total liabilities		(14,328,688	)		(10,346	)		(15,797	)		(103,417	) ( 2 )		(14,458,248	)		(2,234,211	)

Other disclosures
Investment in joint ventures		223,918			3,202			—			—			227,120			35,096
Capital expenditure		550,424			4,409			14			—			554,847			85,740

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

.1.

Revenue from one customer group amounted to RMB 6,018.2 million (US$930.0 million) (2019: RMB 5,205.5 million; 2018: RMB 4,463.9 million), arising from sales by Yuchai segment.

Non-current

assets


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000

People’s Republic of China		5,764,591		6,268,004		968,585
Other countries		97,879		94,067		14,536

		5,862,470		6,362,071		983,121

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, 2020

Financial risk management objectives and policies

31.	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 of December 31, 2019 and 2020.

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, 2020.

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 26(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 (2019: 50) basis points higher or lower and all other variables were held constant, the profit before tax for the year ended December 31, 2020 of the Group would increase/decrease by RMB 20.9 million (US$3.2 million) (2019: increase/decrease by RMB 21.4 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:


	31.12.2019
	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


	31.12.2020
	Singapore Dollar			Euro			US Dollar			Renminbi			Others
	RMB’000			RMB’000			RMB’000			RMB’000			RMB’000

Quoted equity securities		6,258			—			—			—			—
Trade and other receivables		620			8,624			913			305			372
Cash and bank balances		181,575			3,829			45,203			—			15,086
Financial liabilities		(1,462	)		—			—			—			—
Trade and other payables		(6,184	)		(9,356	)		(10,858	)		(2,464	)		—

Net assets/(liabilities)		180,807			3,097			35,258			(2,159	)		15,458

US$’000		27,940			479			5,448			(334	)		2,389

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
	31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			US$’000

Singapore Dollar		21,564			18,081			2,794
Euro		(2,746	)		310			48
US Dollar		(13,126	)		3,526			545
Renminbi		65			(216	)		(33	)

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:


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Statement of profit or loss		924		626		97

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 15. The Group’s share of bills receivables of a joint venture which was used as collateral as security is disclosed in Note 5.

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 of 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		794,678			601,094		61,917			24,409			40,213			67,045
Expected credit loss		57,611			—		4,283			1,513			4,386			47,429


				Trade receivables
						Days past due
As of December 31, 2020	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		13.1	%		—		4.2	%		4.9	%		7.8	%		72.8	%
Estimated total gross carrying amount at default		332,567			126,706		91,233			29,675			36,413			48,540
Expected credit loss		43,519			—		3,860			1,451			2,852			35,356

At December 31, 2020, the Group had top 20 customers (2019: top 20 customers) that owed the Group more than RMB 125.5 million (US$19.4 million) (2019: RMB 387.6 million) and accounted for approximately 37.7% (2019: 50.0%) 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 15. The Group’s share of bills receivables of a joint venture which was used as collateral as security is disclosed in Note 5.

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 of December 31, 2019	RMB’000		RMB’000		RMB’000

Financial assets
Trade and bills receivables		7,742,301		—		7,742,301
Other receivables, excluding tax recoverable		161,292		—		161,292
Cash and bank balances		6,390,918		—		6,390,918
Quoted equity securities		9,235		—		9,235

		14,303,746		—		14,303,746


Financial liabilities
Loans and borrowings		2,085,456		—		2,085,456
Trade and other payables (Note 22)		8,408,058		176,302		8,584,360
Lease liabilities		29,838		35,263		65,101
Derivative not designated as hedges – foreign exchange forward contract		999		—		999

		10,524,351		211,565		10,735,916


	1 year or less		2 to 5 years		More than 5 years		Total		Total
As of December 31, 2020	RMB’000		RMB’000		RMB’000		RMB’000		US$’000

Financial assets
Trade and bills receivables		8,082,391		—		—		8,082,391		1,248,959
Other receivables, excluding tax recoverable		76,195		—		—		76,195		11,774
Cash and bank balances		6,307,538		140,000		—		6,447,538		996,328
Quoted equity securities		6,258		—		—		6,258		967

		14,472,382		140,000		—		14,612,382		2,258,028


Financial liabilities
Loans and borrowings		1,753,142		524,275		—		2,277,417		351,926
Trade and other payables (Note 22)		10,025,069		191,563		—		10,216,632		1,578,760
Lease liabilities		24,313		22,761		325		47,399		7,324

		11,802,524		738,599		325		12,541,448		1,938,010

Capital management

12 Months Ended

Dec. 31, 2020

Capital management

32 .	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).


	31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			US$’000

Loans and borrowings (current and non-current) (Note 2 6 (b))		2,055,046			2,230,000			344,598
Lease liabilities (current and non-current) (Note 2 5 )		60,007			39,778			6,147
Trade and other payables (current and non-current) (Note 2 2 )		8,644,393			10,302,531			1,592,034
Less: Cash and bank balances (Note 1 6 )		(6,390,918	)		(6,447,538	)		(996,328	)

Net debts		4,368,528			6,124,771			946,451
Equity attributable to equity holders of the parent		8,767,529			9,014,624			1,393,016

Total capital and net debts		13,136,057			15,139,395			2,339,467

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, 2019 and 2020.

As disclosed in Note 2

, 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, 2019 and 2020.

Fair value measurement

12 Months Ended

Dec. 31, 2020

Fair value measurement

33.	Fair value measurement

Quantitative disclosures fair value measurement hierarchy for assets and liabilities as of December 31, 2019:

Fair value measurement using

Date of

valuation

Quoted

prices

active

markets

Significant

observable

inputs

Total

(Level 1)

(Level 2)

RMB’000

Assets measured at fair value

Quoted equity securities:

Quoted equity shares – TCL (Note 1

)

December 31,

2019

9,235

—

Debt instruments

(ii)

Bills receivable (Note 1

)

December 31,

2019

7,005,234

—

7,005,234

Liabilities measured at fair value

Derivative financial liabilities:

Foreign exchange forward contract – USD

(i)

(Note 26(a))

December 31,

2019

999

—

999

Quantitative disclosures fair value measurement hierarchy for assets and liabilities as of December 31, 2020:

Fair value measurement using

Date of

valuation

Quoted

prices

active

markets

Significant

observable

inputs

Total

(Level 1)

(Level 2)

US$’000

RMB’000

Assets measured at fair value

Quoted equity securities:

Quoted equity shares – TCL (Note 1

)

December 31,

2020

967

6,258

—

Debt financial assets

(ii)

Bills receivable (Note 1

)

December 31,

2020

1,204,293

7,793,343

—

7,793,343

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 2020 and 2019.

Financial assets and financial liabilities

12 Months Ended

Dec. 31, 2020

Financial assets and financial liabilities

34.	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 of December 31, 2019

Financial assets
Quoted equity securities		1 4		9,235		—		—		—		9,235
Trade and bills receivable		1 5		—		737,067		7,005,234		—		7,742,301
Other receivables		1 5		—		161,292		—		—		161,292
Cash and bank balances		1 6		—		6,390,918		—		—		6,390,918

				9,235		7,289,277		7,005,234		—		14,303,746


Financial liabilities
Trade and other payables		2 2		—		—		—		8,584,360		8,584,360
Lease liabilities		2 5		—		—		—		60,007		60,007
Loans and borrowings		2 6 (b)		—		—		—		2,055,046		2,055,046

				—		—		—		10,699,413		10,699,413


	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 of December 31, 2020

Financial assets
Quoted equity securities		1 4		6,258		—		—		—		6,258		967
Trade and bills receivable		1 5		—		289,048		7,793,343		—		8,082,391		1,248,959
Other receivables		1 5		—		76,195		—		—		76,195		11,774
Cash and bank balances		1 6		—		6,447,538		—		—		6,447,538		996,328

				6,258		6,812,781		7,793,343		—		14,612,382		2,258,028


Financial liabilities
Trade and other payables		2 2		—		—		—		10,216,632		10,216,632		1,578,760
Lease liabilities		2 5		—		—		—		39,778		39,778		6,147
Loans and borrowings		2 6 (b)		—		—		—		2,230,000		2,230,000		344,598

				—		—		—		12,486,410		12,486,410		1,929,505

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, 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
	RMB’000		RMB’000			RMB’000		RMB’000			RMB’000		RMB’000		RMB’000			RMB’000		RMB’000			RMB’000

As of December 31, 2019

Loans and borrowings
- current		2,001,014		—			2,001,014		39,979			—		—		(1,469	)		444		15,078			2,055,046
- 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
- non-current		—		54,395			54,395		—			5,465		—		—			23		(28,509	)		31,374

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


	January 1, 2020		Cash flows			Addition		Accretion of interest		Foreign exchange movement		Translation reserve			Others			December 31, 2020		December 31, 2020
	RMB’000		RMB’000			RMB’000		RMB’000		RMB’000		RMB’000			RMB’000			RMB’000		US$’000

As of December 31, 2020

Loans and borrowings
- current		2,055,046		(326,280	)		—		—		1,228		6			—			1,730,000		267,334
- non-current		—		500,000			—		—		—		—			—			500,000		77,264
Lease liabilities
- current		28,633		(37,561	)		4,039		2,198		—		409			25,037			22,755		3,516
- non-current		31,374		—			11,217		—		—		(531	)		(25,037	)		17,023		2,631

Total liabilities from financing activities		2,115,053		136,159			15,256		2,198		1,228		(116	)		—			2,269,778		350,745

The ‘Others’ column includes the effect of reclassification of

non-current

port

on of loans and borrowings, including obligations under finance leases and lease liabilities due to the passage of time.

Basis of preparation and accounting policies (Policies)

12 Months Ended

Dec. 31, 2020

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

Generally, there is a presumption that a majority of voting rights res

•

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

, is measured at fair value with the changes in fair value recognized in the statement of profit or loss in accordance with IFRS 9.

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 and 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

asset takes into account a

market

•

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 de-recognition 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

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

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 buildings and improvements	:	Shorter of 15 to 50 years or lease term
Plan t, machinery a nd equipment	:	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

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.

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 follow


	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 de-recognition (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)

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 15)

•

Trade receivables (Note 15)

“12-month

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.

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 22, 25 and 26.

De-recognition

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 10)

•

Intangible assets (Note 12)

•

Investment property (Note 11)

•

Right-of-use

assets (Note 17)

•

Investment in joint ventures (Note 5)

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

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 re

measurement 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		3 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

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

For

on-road

Onerous contract

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 21.

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 9).

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, 2020

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 buildings and improvements	:	Shorter of 15 to 50 years or lease term
Plan t, machinery a nd equipment	:	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 follow


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

Investments in subsidiaries (Tables)

12 Months Ended

Dec. 31, 2020

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
		31.12.2019		31.12.2020
		%		%

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.


	31.12.2018			31.12.2019			31.12.2020
Proportion of equity interest held by NCI
Yuchai		23.6	%		23.6	%		23.6	%


	31.12.2018 RMB’000		31.12.2019 RMB’000		31.12.2020 RMB’000		31.12.2020 US$’000
Accumulated balances of material NCI
Yuchai				2,603,227		2,624,933		405,627

Profit allocated to material NCI
Yuchai		252,394		254,284		229,231		35,423

Dividends paid to material NCI
Yuchai		135,905		207,514		207,514		32,067

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:


	31.12.2018
	Yuchai RMB’000
Summarized statement of comprehensive income
Revenue		16,210,467

Profit after tax		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
Summarized statement of financial position
Current assets		16,444,627
Non-current assets, excluding goodwill		6,160,217
Goodwill		212,636
Current liabilities		(11,162,938	)
Non-current liabilities		(964,084	)

Net assets		10,690,458

Total equity		10,690,458

Attributable to NCI		2,603,227

Summarized statement of comprehensive income
Revenue		17,980,304

Profit after tax		825,807

Total comprehensive income for the year		828,861

Attributable to NCI		254,284

Summarized statement of cash flows
Operating		1,632,557
Investing		(858,904	)
Financing		(656,576	)

Net increase in cash and cash equivalents		117,077


	31.12.2020
	Yuchai
	RMB’000			US$’000
Summarized statement of financial position
Current assets		18,395,754			2,842,667
Non-current assets, excluding goodwill		6,722,233			1,038,776
Goodwill		212,636			32,858
Current liabilities		(13,035,680	)		(2,014,384	)
Non-current liabilities		(1,293,007	)		(199,806	)

Net assets		11,001,936			1,700,111

Total equity		11,001,936			1,700,111

Attributable to NCI		2,624,933			405,627

Summarized statement of comprehensive income
Revenue		20,557,660			3,176,743

Profit after tax		829,042			128,111

Total comprehensive income for the year		826,214			127,674

Attributable to NCI		229,231			35,423

Summarized statement of cash flows
Operating		1,476,034			228,089
Investing		(794,291	)		(122,741	)
Financing		(505,997	)		(78,191	)

Net increase in cash and cash equivalents		175,746			27,157

Investment in joint ventures (Tables)

12 Months Ended

Dec. 31, 2020

Investments accounted for using equity method [abstract]

Share of Results of Joint Ventures and Carrying Amount of Investment to Joint Ventures


	31.12.2018			31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			RMB’000			US$’000
Share of profit/(loss) of joint ventures, net of tax:
Y & C Engine Co., Ltd		17,612			28,484			(44,016	)		(6,802	)
MTU Yuchai Power Co., Ltd.		(6,882	)		594			3,238			500
Eberspaecher Yuchai Exhaust Technology Co., Ltd		—			(9,366	)		(19,157	)		(2,960	)
Other joint ventures.		963			(497	)		513			79

		11,693			19,215			(59,422	)		(9,183	)


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Carrying amount of investments:
Y & C Engine Co., Ltd		176,082		145,599		22,499
MTU Yuchai Power Co., Ltd		59,931		62,217		9,614
Eberspaecher Yuchai Exhaust Technology Co., Ltd (i )		31,794		12,638		1,953
Other joint ventures		6,184		6,666		1,030

		273,991		227,120		35,096

Note:

(i)

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
				31.12.2019		31.12.2020
				%		%
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


	31.12.2018
	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
	RMB’000			RMB’000			RMB’000			RMB’000
Non-current assets		774,046			78,362			24,001			876,409
Current assets
- Cash and bank balances		164,942			9,265			54,567			228,774
- Others		1,060,805			221,482			7,970			1,290,257

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

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

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

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

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

Carrying amount of other joint ventures											6,184

Carrying amount of the investment in joint ventures											273,991


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

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

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

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


	31.12.2020
	Y & C			MTU Yuchai Power			Eberspaecher Yuchai			Total			Total
	RMB’000			RMB’000			RMB’000			RMB’000			US$’000
Non-current assets		740,423			71,635			45,583			857,641			132,530
Current assets
- Cash and bank balances		160,844			43,056			2,273			206,173			31,860
- Others		1,287,935			266,123			43,895			1,597,953			246,929

Total assets		2,189,202			380,814			91,751			2,661,767			411,319

Non-current liabilities		(417,759	)		—			—			(417,759	)		(64,556	)
Current liabilities
- Others		(1,340,704	)		(244,963	)		(65,960	)		(1,651,627	)		(255,223	)

Total liabilities		(1,758,463	)		(244,963	)		(65,960	)		(2,069,386	)		(319,779	)

Equity		430,739			135,851			25,791			592,381			91,540

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

Group’s share of net assets		193,833			67,926			12,638
Unrealized profit on transactions with joint venture		(48,234	)		(5,709	)		—

Carrying amount of significant joint ventures		145,599			62,217			12,638			220,454			34,066

Carrying amount of other joint ventures											6,666			1,030

Carrying amount of the investment in joint ventures											227,120			35,096


	31.12.2020
	Y & C			MTU Yuchai Power			Eberspaecher Yuchai			Total			Total
	RMB’000			RMB’000			RMB’000			RMB’000			US$’000
Revenue		3,021,877			307,699			45,966			3,375,542			521,617
Depreciation and amortization		(59,406	)		(2,350	)		(360	)		(62,116	)		(9,599	)
Interest expense, net		(40,709	)		(1,983	)		—			(42,692	)		(6,597	)
Profit/(loss) for the year, representing total comprehensive income for the year		(88,785	)		6,421			(39,095	)		(121,459	)		(18,769	)

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

Group’s share of profit/(loss)		(39,953	)		3,211			(19,157	)
Unrealized profit on transactions with joint venture		(4,063	)		27			—

Group’s share of profit/(loss) of significant joint ventures		(44,016	)		3,238			(19,157	)		(59,935	)		(9,262	)

Group’s share of loss of other joint ventures, representing the Group’s share of total comprehensive loss of other joint ventures											513			79

Group’s share of profit for the year, representing the Group’s share of total comprehensive income for the year											(59,422	)		(9,183	)

Revenue from contracts with customers (Tables)

12 Months Ended

Dec. 31, 2020

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:


	31.12.2018
Segments	Yuchai		HLGE		Total
	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
Segments	Yuchai		HLGE		Total
	RMB’000		RMB’000		RMB’000
Type of goods or services
Heavy-duty engines		6,189,934		—		6,189,934
Medium-duty engines		5,583,982		—		5,583,982
Light-duty engines		2,429,248		—		2,429,248
Other products and services (i)		3,732,436		—		3,732,436
Revenue from hospitality operations		44,704		35,781		80,485

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

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

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

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

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


	31.12.2020
Segments	Yuchai		HLGE		Total		Total
	RMB’000		RMB’000		RMB’000		US$’000
Type of goods or services
Heavy-duty engines		6,725,312		—		6,725,312		1,039,252
Medium-duty engines		6,626,629		—		6,626,629		1,024,003
Light-duty engines		2,356,168		—		2,356,168		364,095
Other products and services (i)		4,809,921		—		4,809,921		743,269
Revenue from hospitality operations		39,630		23,510		63,140		9,757

Total revenue from contracts with customers		20,557,660		23,510		20,581,170		3,180,376

Geographical markets
People’s Republic of China		20,504,288		—		20,504,288		3,168,496
Other countries		53,372		23,510		76,882		11,880

Total revenue from contracts with customers		20,557,660		23,510		20,581,170		3,180,376

Timing of revenue recognition
At a point in time		20,518,030		—		20,518,030		3,170,619
Over time		39,630		23,510		63,140		9,757

Total revenue from contracts with customers		20,557,660		23,510		20,581,170		3,180,376

Note:

(i)

included sales of power generator sets, engine components,

service

-type

maintenance

services and others.

Summary of Change in Contract Balances

6 .2	Contract balances


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Trade receivables (Note 1 5 )		737,067		289,048		44,666
Capitalized contract cost		136,457		127,704		19,734
Contract liabilities (Note 2 4 )		436,622		935,462		144,556

Schedule of revenue recognized

(a)

Set out below is the amount of revenue recognized from:


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Amounts include in contract liabilities		72,321		363,464		56,166

Schedule of contract cost capitalized

(b)

Capitalized contract costs


	31.12.2019			31.12.2020			31.12.2020
	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			136,457			21,086
Addition		93,549			24,147			3,731
Reclassified to development costs		—			(21,519	)		(3,325	)
Released to consolidated statement of profit or loss		(1,526	)		(11,381	)		(1,758	)

At December 31		136,457			127,704			19,734

Summary of Performance Obligations

6 .3	Performance obligations

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


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Within one year		127,326		112,454		17,377
More than one year		53,813		67,269		10,396
Total unfulfilled service-type maintenance service (Note 24)		181,139		179,723		27,773

Other income and expenses recognized in statement of profit and loss (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Depreciation and Amortization

(a)

Depreciation and amortization expenses


	31.12.2018		31.12.2019		31.12.2020		31.12.2020
	RMB’ 000		RMB’000		RMB’000		US$’000
Amortization of intangible assets		—		1,012		1,012		156
Amortization of prepaid operating lease		12,724		—		—		—
Depreciation of investment property		884		380		376		58
Depreciation of property, plant and equipment		420,277		422,859		450,092		69,552
Depreciation of right-of-use assets (i)		—		40,958		43,127		6,664

		433,885		465,209		494,607		76,430

Note:

(i)

In 2020,

OVID

-19

related rent rebate received from lessors of RMB 0.2 million (

less than

US$ 0.1 million)

has

been offset against the depreciation of

right-of-use

assets.

Depreciation and amortization expenses are included in the following captions:


	31.12.2018		31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		RMB’000		US$’000
Cost of sales		312,769		315,445		327,866		50,664
Research and development expenses		26,751		16,470		26,815		4,144
Selling, general and administrative expenses		94,365		133,294		139,926		21,622

		433,885		465,209		494,607		76,430

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:


	31.12.2018		31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		RMB’000		US$’000
Selling, general and administrative expenses		211,971		221,255		237,683		36,729

Summary of Other Operating Income

7 .2	(a) Other operating income


	31.12.2018			31.12.2019		31.12.2020		31.12.2020
	RMB’000			RMB’000		RMB’000		US$’000
Interest income		147,244			177,261		166,970		25,801
Dividend income from quoted equity securities		1,992			959		166		26
Gain on disposal of:
- property, plant and equipment		8,835			—		—		—
- quoted equity securities		—			11,528		874		135
- right-of-use assets		—			9,237		2,574		398
Government grants		32,237			122,371		209,793		32,419
Fair value gain on quoted equity securities		—			1,118		—		—
Fair value gain on foreign exchange forward contract		4,529			—		999		154
Realised foreign exchange gain, net		5,306			3,604		1,390		215
Unrealised foreign exchange gain, net		(4,235	)		4,679		1,827		282
Others		9,235			16,404		15,676		2,423

		205,143			347,161		400,269		61,853

Summary of Other Operating Expenses

7 .2	(b) Other operating expenses


	31.12.2018		31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		RMB’000		US$’000
Fair value loss on quoted equity securities		3,433		—		1,196		185
Fair value loss on foreign exchange forward contract		—		5,529		—		—
Loss on disposal of property, plant and equipment		—		645		4,183		646
Provision for onerous contract		—		—		13,639		2,108
Others		9,030		2,501		2,304		356

		12,463		8,675		21,322		3,295

Summary of Finance Costs

7 .3	Finance costs


	31.12.2018		31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		RMB’000		US$’000
Bank term loans		71,513		76,721		95,357		14,735
Bills discounting		36,826		47,212		49,738		7,686
Bank charges		4,749		4,945		3,877		599
Interest on lease liabilities (Note 1 7 )		—		2,918		2,198		340

		113,088		131,796		151,170		23,360

Summary of Staff Costs

7 .4	Staff costs


	31.12.2018		31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		RMB’000		US$’000
Wages and salaries		1,176,465		1,122,712		1,364,751		210,893
Contribution to defined contribution plans		296,073		324,623		287,830		44,478
Executive bonuses		57,674		59,791		59,908		9,257
Staff welfare		76,689		82,692		94,982		14,677
Staff severance cost		28,018		15,454		19,712		3,046
Others		8,441		6,012		3,439		532

		1,643,360		1,611,284		1,830,622		282,883

Staff costs are included in the following captions:


	31.12.2018		31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		RMB’000		US$’000
Cost of sales		822,570		808,763		912,304		140,977
Research and development expenses		213,826		243,049		258,118		39,886
Selling, general and administrative expenses		606,964		559,472		660,200		102,020

		1,643,360		1,611,284		1,830,622		282,883

Income tax expense (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Income Tax Expense

The major components of income tax expense for the years ended December 31, 2018, 2019 and 2020 are as follows:


	31.12.2018			31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			RMB’000			US$’000

Current income tax
- Current year		209,448			193,878			180,254			27,854
- Over provision in respect of prior years		(729	)		(6,985	)		(124	)		(19	)
Deferred tax
- Movement in temporary differences		(2,052	)		(14,274	)		12,543			1,938
- Over provision in respect of prior years		—			—			(135	)		(20	)

Consolidated income tax expense reported in the statement of profit or loss		206,667			172,619			192,538			29,753

Reconciliation of Income Tax Expense


	31.12.2018			31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			RMB’000			US$’000

Accounting profit before tax		1,181,067			1,033,319			971,864			150,180
Computed tax expense at 15% (2019: 15%, 2018: 15%)		177,160			154,998			145,780			22,527
Adjustments resulting from:
Non-deductible expenses		5,146			3,982			9,188			1,420
Tax-exempt income		(3,634	)		(6,171	)		(601	)		(93	)
Utilization of deferred tax benefits previously not recognized		(5,518	)		(5,076	)		(1,996	)		(308	)
Deferred tax benefits not recognized		2,183			6,613			6,097			942
Tax credits for research and development expense		(22,407	)		(31,863	)		(26,329	)		(4,068	)
Tax rate differential		24,437			26,223			24,251			3,747
Over provision in respect of previous years		(729	)		(6,985	)		(259	)		(39	)
Withholding tax expense		30,029			30,898			36,332			5,614
Others		—			—			75			11

Total		206,667			172,619			192,538			29,753

Summary of Deferred Tax

Deferred tax relates to the following:


	Consolidated statement of financial position									Consolidated statement of profit or loss
	31.12.2019			31.12.2020			31.12.2020			31.12.2018			31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			US$’000			RMB’000			RMB’000			RMB’000			US$’000

Accelerated tax depreciation		(44,920	)		(100,802	)		(15,577	)		(12,432	)		(17,366	)		(55,882	)		(8,635	)
Interest receivable		(1,644	)		(1,937	)		(299	)		(1,478	)		608			(293	)		(45	)
PRC withholding tax on dividend income (i)		(106,922	)		(112,456	)		(17,378	)		(29,842	)		(30,721	)		(36,255	)		(5,602	)
Impairment of property, plant and equipment		6,648			40,104			6,197			3,624			(9,295	)		33,456			5,170
Write-down of inventories		18,403			22,628			3,497			(1,433	)		2,343			4,225			653
Allowance for doubtful account receivables		10,077			8,056			1,245			(2,199	)		4,900			(2,021	)		(312	)
Accruals		250,662			298,766			46,168			(186	)		46,108			48,149			7,440
Deferred income		107,731			108,942			16,834			43,820			12,232			1,211			187
Others		29,439			24,441			3,777			2,178			5,465			(4,998	)		(774	)

Deferred tax benefits/(expenses)											2,052			14,274			(12,408	)		(1,918	)

Net deferred tax assets		269,474			287,742			44,464

Reflected in the consolidated statement of financial position as follows:
Deferred tax assets		422,960			400,198			61,842
Deferred tax liabilities		(153,486	)		(112,456	)		(17,378	)

		269,474			287,742			44,464

(i)

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


	31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			US$’000

At January 1		(106,922	)		(106,922	)		(16,522	)
Provision made to consolidated statement of profit or loss		(30,721	)		(36,255	)		(5,602	)
Utilization		30,721			30,721			4,746

December 31		(106,922	)		(112,456	)		(17,378	)

Deferred Tax Assets That Have Not Been Recognized

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


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Unutilized tax losses		414,226		404,215		62,463
Unutilized capital allowances and investment allowances		107,613		105,622		16,322
Other unrecognized temporary differences relating to asset impairment and deferred grants		215,296		204,423		31,589

		737,135		714,260		110,374

Earnings per share (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Earnings Per Share

The calculation of basic earnings per share is based on:


	31.12.2018		31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		RMB’000		US$’000
Profit attributable to ordinary equity holders of the parent		695,266		604,914		548,903		84,821

Weighted average number of ordinary shares		40,858,290		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:


	31.12.2018		31.12.2019		31.12.2020
Weighted average number of shares issued, used in the calculation of basic earnings per share		40,858,290		40,858,290		40,858,290
Diluted effect of share options		—		—		—

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

Property, plant and equipment (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Property, Plant and Equipment


	Freehold land RMB’000			Leasehold 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, 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 and January 1, 2020		14,836			2,376,090			1,037,035			5,285,022			195,154			112,501			9,020,638
Additions		—			16,273			487,725			20,617			14,066			16,166			554,847
Disposals		—			(4,664	)		—			(260,996	)		(3,604	)		(4,742	)		(274,006	)
Transfers		—			75,264			(823,981	)		741,218			7,323			176			—
Write-off		—			(9,759	)		—			(53,917	)		(8,983	)		(912	)		(73,571	)
Translation difference		(744	)		(3,825	)		(63	)		(459	)		(866	)		(131	)		(6,088	)

At December 31, 2020		14,092			2,449,379			700,716			5,731,485			203,090			123,058			9,221,820


Accumulated depreciation and impairment
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 and January 1, 2020		513			848,803			—			3,739,750			151,710			69,418			4,810,194
Charge for the year		—			92,034			—			357,434			19,913			8,939			478,320	*
Disposals		—			(1,102	)		—			(253,121	)		(3,218	)		(4,058	)		(261,499	)
Write-off		—			(4,660	)		—			(51,910	)		(8,719	)		(865	)		(66,154	)
Impairment loss		—			—			—			3,920			—			—			3,920
Translation difference		(26	)		(685	)		—			(269	)		(651	)		(90	)		(1,721	)

At December 31, 2020		487			934,390			—			3,795,804			159,035			73,344			4,963,060


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

At December 31, 2020		13,605			1,514,989			700,716			1,935,681			44,055			49,714			4,258,760

US$’000		2,102			234,109			108,280			299,118			6,808			7,683			658,100

Investment property (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Investment Property


	31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			US$’000

Cost
At January 1		33,972			34,940			5,399
Translation difference		968			(1,753	)		(271	)

At December 31		34,940			33,187			5,128


Accumulated depreciation
At January 1		27,207			28,388			4,387
Charge for the year		380			376			58
Translation difference		801			(1,406	)		(218	)

At December 31		28,388			27,358			4,227


Net carrying amount		6,552			5,829			901

Fair value		11,419			11,954			1,847

Consolidated statements of profit or loss:
Rental income from an investment property		375			230			36
Direct operating expenses (including repairs, maintenance and depreciation expense) arising from the rental generating property		(294	)		(180	)		(28	)

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):

Intangible assets (Tables)

12 Months Ended

Dec. 31, 2020

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, 2019		136,822		195,879		218,311		—		551,012
Addition		—		366,708		—		169,811		536,519

At December 31, 2019 and January 1, 2020		136,822		562,587		218,311		169,811		1,087,531
Addition		—		530,836		—		—		530,836

At December 31, 2020		136,822		1,093,423		218,311		169,811		1,618,367


Accumulated amortization and impairment
At January 1, 2019		126,700		—		5,675		—		132,375
Amortization		1,012		—		—		—		1,012

At December 31, 2019 and January 1, 2020		127,712		—		5,675		—		133,387
Amortization		1,012		—		—		—		1,012

At December 31, 2020		128,724		—		5,675		—		134,399


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

At December 31, 2020		8,098		1,093,423		212,636		169,811		1,483,968

US$’000		1,251		168,965		32,858		26,241		229,315

Summary of carrying amount of goodwill allocated

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


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000

Yuchai		212,636		212,636		32,858

Inventories (Tables)

12 Months Ended

Dec. 31, 2020

Analysis of Inventory Reserve Accounts

Summary of Inventories


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Raw materials		1,500,034		1,940,119		299,804
Work in progress		35,688		33,211		5,132
Finished goods		1,288,415		2,497,865		385,991

Total inventories at the lower of cost and net realizable value		2,824,137		4,471,195		690,927


	31.12.2018			31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			RMB’000			US$’000
Inventories recognized as an expense in cost of sales		11,471,988			13,167,181			15,501,807			2,395,470
Inclusive of the following charge/(credit):
- Inventories written down		25,194			31,810			82,386			12,731
- Reversal of write-down of inventories		(33,662	)		(14,788	)		(54,408	)		(8,408	)

Other current assets (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Other Current Assets


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Current
Development properties (i)		17,721		16,906		2,612
Quoted equity securities (ii)		9,235		6,258		967

		26,956		23,164		3,579

Note:

(i)

In 2020, no impairment loss

was record

on development properties. In 2019, an impairment loss of RMB 3.0 million on development properties was charged to the consolidated statement of profit or loss under “Cost of sales”.

(ii)

ther operating income”.

Trade and other receivables (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Trade and Other Receivables


	31.12.2019 RMB’000			31.12.2020 RMB’000			31.12.2020 US$’000
Trade receivables, gross		794,678			332,567			51,391
Less: Allowance for expected credit losses		(57,611	)		(43,519	)		(6,725	)

Net trade receivables (Note 6.2)		737,067			289,048			44,666
Bills receivable (i)		7,005,234			7,793,343			1,204,293

Total (Note 34)		7,742,301			8,082,391			1,248,959

Amounts receivable:
- associates and joint ventures (trade)		609			1,266			196
- associates and joint ventures (non-trade)		11,185			11,119			1,718
- related parties (trade)		73,243			9,663			1,493
- related parties (non-trade)		2,092			2,992			462
Staff advances		7,133			3,326			514
Interest receivables		12,224			4,999			772
Bills receivable in transit		8,700			12,620			1,950
Refundable deposits		2,131			283			44
Others		49,218			36,668			5,667
Less: Impairment losses – other receivables (ii)		(5,243	)		(6,741	)		(1,042	)

Other receivables carried at amortized cost (Note 34)		161,292			76,195			11,774
Tax recoverable		223,652			236,400			36,531
Prepayments		63,048			64,102			9,906

Net other receivables		447,992			376,697			58,211

Total trade and other receivables		8,190,293			8,459,088			1,307,170

Note:

(i)

As of December 31, 2020, bills receivable includes bills received from related parties amounted to RMB 1,014.1 million (US$156.7 million) (2019: RMB 1,050.7 million) respectively.

As of December 31, 2019 and 2020, there was no bills receivable 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:


	31.12.2019 RMB’000			31.12.2020 RMB’000			31.12.2020 US$’000

At January 1		30,586			62,854			9,713
Debit/(credit) to consolidated statement of profit or loss (under “ S elling, general and administrative expenses”)		32,340			(12,349	)		(1,908	)
Written off		(62	)		(242	)		(37	)
Translation difference		(10	)		(3	)		(1	)

At December 31		62,854			50,260			7,767

Cash and cash equivalents (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Cash and Bank Balances


	31.12.2019 RMB’000		31.12.2020 RMB’000		31.12.2020 US$’000
Non-current
Long-term bank deposits (i)		50,000		140,000		21,634

Current
Cash and cash equivalents		5,753,268		5,877,647		908,264
Short-term bank deposits (ii)		356,543		258,756		39,985
Restricted cash		231,107		171,135		26,445

		6,340,918		6,307,538		974,694

Cash and bank balances		6,390,918		6,447,538		996,328

Note:

(i)

(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:


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000

Cash at banks and on hand		5,205,605		5,466,288		844,697
Short-term bank deposits (i)		547,663		411,359		63,567

Cash and cash equivalents		5,753,268		5,877,647		908,264

Note:

(i)

Leases (Tables)

12 Months Ended

Dec. 31, 2020

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		369,925			76,644			39			446,608			69,014
Addition		—			11,473			—			11,473			1,773
Depreciation expenses		(14,347	)		(26,597	)		(14	)		(40,958	)		(6,329	)
Disposal		(1,771	)		—			—			(1,771	)		(274	)
Translation difference		—			36			(4	)		32			5

At December 31, 2019 and January 1, 2020		353,807			61,556			21			415,384			64,189
Addition		2,058			13,198			—			15,256			2,357
Depreciation expenses		(14,102	)		(29,182	)		(14	)		(43,298	)		(6,691	)
Disposal		(3,198	)		—			—			(3,198	)		(494	)
Translation difference		—			(142	)		(1	)		(143	)		(22	)

At December 31, 2020		338,565			45,430			6			384,001			59,339

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			2020			2020
	RMB’000			RMB’000			US$’000
At January 1		96,852			60,007			9,273
Additions		11,473			15,256			2,357
Accretion of interest (Note 7 .3)		2,918			2,198			340
Payments		(51,283	)		(37,561	)		(5,805	)
Translation difference		47			(122	)		(18	)

At December 31		60,007			39,778			6,147


Current (Note 2 5 )		28,633			22,755			3,516
Non-current (Note 2 5 )		31,374			17,023			2,631

Total		60,007			39,778			6,147

The maturity analysis of lease liabilities is disclosed in Note 2

Summary of detailed information about amounts recognized in profit of loss

The following are the amounts recognized in profit of loss:


	2019 RMB’000		2020 RMB’000		2020 US$’000

Depreciation charge for right-of-use assets		40,958		43,127		6,664
Interest expenses on lease liabilities (Note 7 .3)		2,918		2,198		340
Expenses relating to short-term leases (included in selling, general and administrative costs and research and development cost)		14,341		14,313		2,212

Total amount recognized in profit or loss		58,217		59,638		9,216

Summary of detailed information about Future minimum rental receivables under non-cancellable operating leases

Future minimum rental receivables under

non-cancellable

operating leases as of 31 December are as follows:


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Within 1 year
- related parties		1,787		902		139
- joint venture		2,691		2,590		400
- third parties		892		5,058		782
After 1 year but within 5 years
- related parties		660		—		—
- joint venture		10,526		10,720		1,657
- third parties		1,504		13,305		2,056
After than 5 years
- joint venture		5,643		14,141		2,185
- third parties		889		4,392		679

		24,592		51,108		7,898

Issued capital (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Issued Capital

31.12.2019
thousands

31.12.2020
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, 201

, December 31, 20

and December 31, 20

40,858,290

2,081,138

US$’000

321,595

31.12.2019
RMB’000

31.12.2020
RMB’000

31.12.2020
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, 2020

Summary of Dividends Declared and Paid


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000

Declared and paid during the year
Dividends on ordinary shares:
Final dividend paid in 2020: US$0.85 per share (2019: US$0.85 per share)		238,758		245,871		37,994

Dividend paid in cash		238,758		245,871		37,994

Reserves (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Statutory Reserves


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000

Statutory reserve
Statutory general reserve (i)
At January 1		276,698		278,601		43,052
Transfer from retained earnings		1,903		2,858		442

At December 31		278,601		281,459		43,494


General surplus reserve (ii)
At January 1 and December 31		25,706		25,706		3,972

Total		304,307		307,165		47,466


Capital reserves (iii)
At January 1 and December 31		30,704		30,704		4,745

Note:

(i)

(ii)

(iii)

Capital reserves pertain to a capital transaction in 2015.

Summary of Other Components of Equity


	31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			US$’000

Other components of equity
Foreign currency translation reserve (i)		(36,091	)		(89,925	)		(13,896	)
Performance shares reserve (ii)		19,758			19,758			3,053
Premium paid for acquisition of non-controlling interests		(11,472	)		(11,472	)		(1,773	)
Fair value reserve of financial assets at FVOCI (iii)		(77,617	)		(79,720	)		(12,319	)

Total		(105,422	)		(161,359	)		(24,935	)

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, 2020

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
	31.12.2019		31.12.201 9		31.12.2020		31.12.20 20

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, 2020

Summary of Trade and Other Current Payables


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000

Current
Trade payables		2,953,479		3,406,398		526,385
Bills payables (i)		2,764,013		3,348,163		517,386
Other payables		543,970		533,705		82,473
Accrued expenses		203,133		233,053		36,013
Accrued staff costs		653,854		714,701		110,442
Refund liabilities		757,655		1,031,562		159,406
Dividend payable		47,480		49,468		7,644
Amount due to:
- associates and joint ventures (trade)		258,964		467,351		72,219
- associates and joint ventures (non-trade)		81		205		32
- related parties (trade)		221,413		238,622		36,874
- related parties (non-trade)		4,016		1,841		284

Financial liabilities carried at amortized cost (Note 31, Note 3 4 )		8,408,058		10,025,069		1,549,158

Deferred grants (Note 2 7 )		19,952		23,468		3,626
Advance from customers		383		320		50
Other tax payable		39,698		62,111		9,598

Total trade and other payables (current)		8,468,091		10,110,968		1,562,432

(i)

As of December 31, 2020, the bills payables include bills payable to joint ventures, associates and other related parties amounted to

RMB 105.6 million (US$16.3 million)

(2019: RMB 125.0 million),

RMB 12.9 million (US$2.0 million)

(2019: RMB 10.1 million) and

RMB 249.0 million (US$38.5 million)

(

2019: RMB 232.6 million) respectivel

Summary of Other Non-current Payables


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000

Non-current
Other payables (i) (Note 31, Note 34 )		176,302		191,563		29,602

(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, 2020

Summary of Provision


	Provision for warranty			Provision for onerous contract			Total			Total
	RMB’000			RMB’000			RMB’000			US$’000
At January 1, 2019		166,913			—			166,913			25,793
Provision made		421,905			2,316			424,221			65,554
Provision utilized		(373,103	)		—			(373,103	)		(57,655	)

At December 31, 2019 and January 1, 2020		215,715			2,316			218,031			33,692
Provision made		335,664			13,639			349,303			53,977
Provision utilized		(295,940	)		—			(295,940	)		(45,731	)
Provision reversed		—			(2,316	)		(2,316	)		(358	)

At December 31, 2020		255,439			13,639			269,078			41,580

Contract liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Contract Liabilities


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000


Unfulfilled service-type maintenance services		181,139		179,723		27,773
Advance from customer		255,483		755,739		116,783

Total		436,622		935,462		144,556

Current		382,809		868,193		134,161
Non-current		53,813		67,269		10,395

Total contract liabilities (Note 6 .2)		436,622		935,462		144,556

Lease liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Lease liabilities [abstract]

Summary of Lease Liabilities


	Effective interest rate		Maturity		31.12.2019		31.12.2020		31.12.2020
	%				RMB’000		RMB’000		US$’000
Current (Note 1 7 )		1.25% - 6.20%		2021		28,633		22,755		3,516

Non- current (Note 1 7 )		1.25% - 6.20%		2022-2026		31,374		17,023		2,631

Other financial liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Other Financial Liabilities


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Current:
Derivative not designated as hedges – foreign exchange forward contract		999		—		—

Summary of Loans and Borrowings


	Effective interest rate		Maturity		31.12.2019
	%				RMB’000

Current
Renminbi denominated loans		3.70 – 4.13		2020		1,900,000
US dollar denominated loans		2.52		2020		139,524
Singapore Dollar denominated loans (ii)		2.84		2020		15,522

						2,055,046


	Effective interest rate		Maturity		31.12.2020		31.12.2020
	%				RMB’000		US$’000

Current
Renminbi denominated loans		1.80 – 4.05		2021		1,730,000		267,334


Non-current
Renminbi denominated loans		3.30		2022		500,000		77,264

Note:

(i)

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


(ii)	Issuer bank	Facility limit		Usage
				RMB’000

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

Deferred grants (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Deferred Grants


	31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			US$’000

At January 1		607,608			676,728			104,574
Received during the year		187,096			52,241			8,072
Grant receivable		—			129			20
Grant disbursed to partner of joint project		—			(48,632	)		(7,515	)
Released to consolidated statement of profit or loss		(117,976	)		(138,856	)		(21,457	)

At December 31		676,728			541,610			83,694


Current (Note 2 2 )		19,952			23,468			3,626
Non-current		656,776			518,142			80,068

		676,728			541,610			83,694

Related party disclosures (Tables)

12 Months Ended

Dec. 31, 2020

Significant Transactions with Related Parties

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


	31.12.2018		31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		RMB’000		US$’000

Sales of engines and materials
- associates and joint ventures		439,106		912,877		1,256,268		194,129
- GY Group (including its subsidiaries and affiliates)		406,422		1,792,280		2,637,845		407,622
Purchase of material, supplies and engines
- associates and joint ventures		1,192,322		1,999,831		2,792,707		431,553
- GY Group (including its subsidiaries and affiliates)		1,589,638		1,895,239		1,245,030		192,393
Hospitality, restaurant, consultancy and other service income charged to
- a joint venture		3,456		3,984		3,918		605
- GY Group (including its subsidiaries and affiliates)		24,015		15,350		6,765		1,045
Rental income
- a joint venture		1,937		3,206		4,565		705
- GY Group (including its subsidiaries and affiliates)		3,886		2,133		3,970		613
Property management service expenses
- GY Group (including its subsidiaries and affiliates)		26,547		22,595		24,968		3,858
Leasing expenses (i)
- GY Group (including its subsidiaries and affiliates)		25,705		—		—		—
Selling, general and administrative expenses
- a joint venture		—		—		7,287		1,126
- GY Group (including its subsidiaries and affiliates)		21,607		19,953		4,728		731
- HLA (including its affiliates)		6,639		6,788		6,687		1,033
Delivery, storage, distribution and handling expenses
- GY Group (including its subsidiaries and affiliates)		228,195		304,532		312,891		48,351
Payment for trademarks usage fee
- GY Group		—		169,811		—		—
Payment for lease liabilities
- GY Group (including its subsidiaries and affiliates)		—		33,594		18,086		2,795
Purchases of vehicles and machineries
- GY Group (including its subsidiaries and affiliates)		6,144		2,817		2,838		439

Note:

(i)

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 of December 31, 2019

and

2020.

Compensation of Key Management Personnel

Compensation of key management personnel of the Group


	31.12.2018		31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		RMB’000		US$’000
Short-term employee benefits		39,703		41,606		43,178		6,672
Contribution to defined contribution plans		335		362		292		45

		40,038		41,968		43,470		6,717

Commitments and contingencies (Tables)

12 Months Ended

Dec. 31, 2020

Future Minimum Lease Payments

The Group has various lease contracts that have not yet commenced as of December 31,

2019 and

2020. The future lease payments

for

these

non-cancellable

lease contracts are as follows:


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Within 1 year		105		321		50
After 1 year but within 5 years		85		1,628		252
After 5 years		—		71		11

		190		2,020		313

Segment information (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Segment Information


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 6 .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
	RMB’000			RMB’000			RMB’000			RMB’000			RMB’000

Revenue
Total external revenue (Note 6 .1)		17,980,304			35,781			—			—			18,016,085


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

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

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

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

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


Year ended December 31, 2020	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 6 .1)		20,557,660			23,510			—			—			20,581,170			3,180,376


Results
Interest income		158,569			3,538			4,863			—			166,970			25,801
Interest expense		(147,161	)		(35	)		(97	)		—			(147,293	)		(22,761	)
Impairment of property, plant and equipment		(3,920	)		—			—			—			(3,920	)		(606	)
Staff severance cost		(19,712	)		—			—			—			(19,712	)		(3,046	)
Depreciation and amortization		(488,536	)		(5,181	)		(890	)		—			(494,607	)		(76,430	)
Share of profit of associates and joint venture		(59,476	)		506			—			—			(58,970	)		(9,113	)
Income tax expense		(156,007	)		(200	)		(69	)		(36,262	) (1)		(192,538	)		(29,753	)

Segment profit after tax		829,042			1,052			(17,127	)		(33,641	) (1)		779,326			120,427

Total assets		25,330,625			392,096			2,075,262			(1,507,025	)		26,290,958			4,062,701

Total liabilities		(14,328,688	)		(10,346	)		(15,797	)		(103,417	) ( 2 )		(14,458,248	)		(2,234,211	)

Other disclosures
Investment in joint ventures		223,918			3,202			—			—			227,120			35,096
Capital expenditure		550,424			4,409			14			—			554,847			85,740

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 6,018.2 million (US$930.0 million) (2019: RMB 5,205.5 million; 2018: RMB 4,463.9 million), arising from sales by Yuchai segment.

Non-current

assets


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000

People’s Republic of China		5,764,591		6,268,004		968,585
Other countries		97,879		94,067		14,536

		5,862,470		6,362,071		983,121

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 (Tables)

12 Months Ended

Dec. 31, 2020

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 of 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		794,678			601,094		61,917			24,409			40,213			67,045
Expected credit loss		57,611			—		4,283			1,513			4,386			47,429


				Trade receivables
						Days past due
As of December 31, 2020	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		13.1	%		—		4.2	%		4.9	%		7.8	%		72.8	%
Estimated total gross carrying amount at default		332,567			126,706		91,233			29,675			36,413			48,540
Expected credit loss		43,519			—		3,860			1,451			2,852			35,356

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 of December 31, 2019	RMB’000		RMB’000		RMB’000

Financial assets
Trade and bills receivables		7,742,301		—		7,742,301
Other receivables, excluding tax recoverable		161,292		—		161,292
Cash and bank balances		6,390,918		—		6,390,918
Quoted equity securities		9,235		—		9,235

		14,303,746		—		14,303,746


Financial liabilities
Loans and borrowings		2,085,456		—		2,085,456
Trade and other payables (Note 22)		8,408,058		176,302		8,584,360
Lease liabilities		29,838		35,263		65,101
Derivative not designated as hedges – foreign exchange forward contract		999		—		999

		10,524,351		211,565		10,735,916


	1 year or less		2 to 5 years		More than 5 years		Total		Total
As of December 31, 2020	RMB’000		RMB’000		RMB’000		RMB’000		US$’000

Financial assets
Trade and bills receivables		8,082,391		—		—		8,082,391		1,248,959
Other receivables, excluding tax recoverable		76,195		—		—		76,195		11,774
Cash and bank balances		6,307,538		140,000		—		6,447,538		996,328
Quoted equity securities		6,258		—		—		6,258		967

		14,472,382		140,000		—		14,612,382		2,258,028


Financial liabilities
Loans and borrowings		1,753,142		524,275		—		2,277,417		351,926
Trade and other payables (Note 22)		10,025,069		191,563		—		10,216,632		1,578,760
Lease liabilities		24,313		22,761		325		47,399		7,324

		11,802,524		738,599		325		12,541,448		1,938,010

Exposures to Foreign Currency

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


	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


	31.12.2020
	Singapore Dollar			Euro			US Dollar			Renminbi			Others
	RMB’000			RMB’000			RMB’000			RMB’000			RMB’000

Quoted equity securities		6,258			—			—			—			—
Trade and other receivables		620			8,624			913			305			372
Cash and bank balances		181,575			3,829			45,203			—			15,086
Financial liabilities		(1,462	)		—			—			—			—
Trade and other payables		(6,184	)		(9,356	)		(10,858	)		(2,464	)		—

Net assets/(liabilities)		180,807			3,097			35,258			(2,159	)		15,458

US$’000		27,940			479			5,448			(334	)		2,389

Foreign currency risk [Member]

Risk Sensitivity Analysis


	Profit before tax
	31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			US$’000

Singapore Dollar		21,564			18,081			2,794
Euro		(2,746	)		310			48
US Dollar		(13,126	)		3,526			545
Renminbi		65			(216	)		(33	)

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:


	31.12.2019		31.12.2020		31.12.2020
	RMB’000		RMB’000		US$’000
Statement of profit or loss		924		626		97

Capital management (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Capital Structure


	31.12.2019			31.12.2020			31.12.2020
	RMB’000			RMB’000			US$’000

Loans and borrowings (current and non-current) (Note 2 6 (b))		2,055,046			2,230,000			344,598
Lease liabilities (current and non-current) (Note 2 5 )		60,007			39,778			6,147
Trade and other payables (current and non-current) (Note 2 2 )		8,644,393			10,302,531			1,592,034
Less: Cash and bank balances (Note 1 6 )		(6,390,918	)		(6,447,538	)		(996,328	)

Net debts		4,368,528			6,124,771			946,451
Equity attributable to equity holders of the parent		8,767,529			9,014,624			1,393,016

Total capital and net debts		13,136,057			15,139,395			2,339,467

Fair value measurement (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Measurement Hierarchy for Assets and Liabilities

Quantitative disclosures fair value measurement hierarchy for assets and liabilities as of December 31, 2019:

Fair value measurement using

Date of

valuation

Quoted

prices

active

markets

Significant

observable

inputs

Total

(Level 1)

(Level 2)

RMB’000

Assets measured at fair value

Quoted equity securities:

Quoted equity shares – TCL (Note 1

)

December 31,

2019

9,235

—

Debt instruments

(ii)

Bills receivable (Note 1

)

December 31,

2019

7,005,234

—

7,005,234

Liabilities measured at fair value

Derivative financial liabilities:

Foreign exchange forward contract – USD

(i)

(Note 26(a))

December 31,

2019

999

—

999

Quantitative disclosures fair value measurement hierarchy for assets and liabilities as of December 31, 2020:

Fair value measurement using

Date of

valuation

Quoted

prices

active

markets

Significant

observable

inputs

Total

(Level 1)

(Level 2)

US$’000

RMB’000

Assets measured at fair value

Quoted equity securities:

Quoted equity shares – TCL (Note 1

)

December 31,

2020

967

6,258

—

Debt financial assets

(ii)

Bills receivable (Note 1

)

December 31,

2020

1,204,293

7,793,343

—

7,793,343

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, 2020

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 of December 31, 2019

Financial assets
Quoted equity securities		1 4		9,235		—		—		—		9,235
Trade and bills receivable		1 5		—		737,067		7,005,234		—		7,742,301
Other receivables		1 5		—		161,292		—		—		161,292
Cash and bank balances		1 6		—		6,390,918		—		—		6,390,918

				9,235		7,289,277		7,005,234		—		14,303,746


Financial liabilities
Trade and other payables		2 2		—		—		—		8,584,360		8,584,360
Lease liabilities		2 5		—		—		—		60,007		60,007
Loans and borrowings		2 6 (b)		—		—		—		2,055,046		2,055,046

				—		—		—		10,699,413		10,699,413


	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 of December 31, 2020

Financial assets
Quoted equity securities		1 4		6,258		—		—		—		6,258		967
Trade and bills receivable		1 5		—		289,048		7,793,343		—		8,082,391		1,248,959
Other receivables		1 5		—		76,195		—		—		76,195		11,774
Cash and bank balances		1 6		—		6,447,538		—		—		6,447,538		996,328

				6,258		6,812,781		7,793,343		—		14,612,382		2,258,028


Financial liabilities
Trade and other payables		2 2		—		—		—		10,216,632		10,216,632		1,578,760
Lease liabilities		2 5		—		—		—		39,778		39,778		6,147
Loans and borrowings		2 6 (b)		—		—		—		2,230,000		2,230,000		344,598

				—		—		—		12,486,410		12,486,410		1,929,505

Schedule of Changes in Liabilities Arising From Financing Activities


	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
	RMB’000		RMB’000			RMB’000		RMB’000			RMB’000		RMB’000		RMB’000			RMB’000		RMB’000			RMB’000

As of December 31, 2019

Loans and borrowings
- current		2,001,014		—			2,001,014		39,979			—		—		(1,469	)		444		15,078			2,055,046
- 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
- non-current		—		54,395			54,395		—			5,465		—		—			23		(28,509	)		31,374

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


	January 1, 2020		Cash flows			Addition		Accretion of interest		Foreign exchange movement		Translation reserve			Others			December 31, 2020		December 31, 2020
	RMB’000		RMB’000			RMB’000		RMB’000		RMB’000		RMB’000			RMB’000			RMB’000		US$’000

As of December 31, 2020

Loans and borrowings
- current		2,055,046		(326,280	)		—		—		1,228		6			—			1,730,000		267,334
- non-current		—		500,000			—		—		—		—			—			500,000		77,264
Lease liabilities
- current		28,633		(37,561	)		4,039		2,198		—		409			25,037			22,755		3,516
- non-current		31,374		—			11,217		—		—		(531	)		(25,037	)		17,023		2,631

Total liabilities from financing activities		2,115,053		136,159			15,256		2,198		1,228		(116	)		—			2,269,778		350,745

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, 2020 Subsidiaries Associate shares	Dec. 31, 2019 Subsidiaries Associate	Dec. 31, 2018 JointVenture	Dec. 31, 2015 shares
Disclosure of Corporate Information [Line Items]
Number of indirectly owned subsidiaries							33	33
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 \| 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 \| Subsidiaries							29	29
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)	12 Months Ended
	Dec. 31, 2020 km Hours	Feb. 28, 2021
Disclosure of Summary of Significant Accounting Policies [Line items]
Convenience translation exchange rate per US$1.00		6.4713
Estimated useful lives of the investment properties	30 years
Bottom of range [member] \| On-Road Applications Engines [member]
Disclosure of Summary of Significant Accounting Policies [Line items]
Warranty claim period	3 months
Warranty mileage \| km	3,000
Bottom of range [member] \| Other Applications Engines [member]
Disclosure of Summary of Significant Accounting Policies [Line items]
Warranty claim period	3 months
Product warranty running hours \| Hours	300
Top of range [member] \| On-Road Applications Engines [member]
Disclosure of Summary of Significant Accounting Policies [Line items]
Warranty claim period	36 months
Warranty mileage \| km	300,000
Top of range [member] \| Other Applications Engines [member]
Disclosure of Summary of Significant Accounting Policies [Line items]
Warranty claim period	36 months
Product warranty running hours \| Hours	4,000

Basis of Preparation and Accounting Policies - Estimated Useful Life of Assets (Detail)	12 Months Ended
	Dec. 31, 2020
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 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, machinery 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] \| 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, machinery 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] \| 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, 2020
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, 2020
Leasehold land [member] \| Bottom of range [member]
Disclosure of right of use assets [line items]
Useful life right of use assets	3 years
Leasehold land [member] \| Top of range [member]
Disclosure of right of use assets [line items]
Useful life right of use assets	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

Significant Accounting Judgments, Estimates and Assumptions - Additional Information (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2020 USD ($)
Disclosure of changes in accounting estimates [line items]
Carrying amounts of deferred tax assets	¥ 400,198		¥ 422,960	$ 61,842
Increase in profit if all unrecognized deferred tax asset were recognized	¥ 157,600	$ 24,300	¥ 162,000
Bottom of range [member]
Disclosure of changes in accounting estimates [line items]
Cash flows derived from forecasts period	eight years	eight years
Top of range [member]
Disclosure of changes in accounting estimates [line items]
Cash flows derived from forecasts period	ten years	ten years

Investments in Subsidiaries - Details of Significant Subsidiaries of the Group (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2020 USD ($)
Disclosure of subsidiaries [line items]
Accumulated balances of material NCI	¥ 2,818,086		¥ 2,805,856		$ 435,474
Profit allocated to material NCI	¥ 230,423	$ 35,606	¥ 255,786	¥ 279,134
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	¥ 2,624,933		¥ 2,603,227		$ 405,627
Profit allocated to material NCI	229,231	$ 35,423	254,284	¥ 252,394
Dividends paid to material NCI	¥ 207,514	$ 32,067	¥ 207,514	¥ 135,905

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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2017 CNY (¥)
Summarized statement of financial position
Current assets	¥ 19,260,985		¥ 17,382,304		$ 2,976,370
Current liabilities	(13,051,795)		(11,209,055)		(2,016,873)
Non-current liabilities	(1,406,453)		(1,071,751)		(217,338)
Total equity	11,832,710		11,573,385	¥ 11,147,554	1,828,490	¥ 10,961,904
Attributable to NCI	2,818,086		2,805,856		435,474
Summarized statement of comprehensive income
Revenue	20,581,170	$ 3,180,376	18,016,085	16,263,248
Profit after tax	779,326	120,427	860,700	974,400
Total comprehensive income for the year	712,710	110,133	872,217	1,056,291
Attributable to NCI	219,744	33,956	261,848	292,356
Summarized statement of cash flows
Operating	1,415,368	218,714	1,583,016	670,601
Investing	(785,753)	(121,421)	(810,477)	(79,992)
Financing	(461,832)	(71,367)	(589,429)	(449,525)
Guangxi Yuchai Machinery Company Lmited [member]
Summarized statement of financial position
Current assets	18,395,754		16,444,627		2,842,667
Non-current assets, excluding goodwill	6,722,233		6,160,217		1,038,776
Goodwill	212,636		212,636		32,858
Current liabilities	(13,035,680)		(11,162,938)		(2,014,384)
Non-current liabilities	(1,293,007)		(964,084)		(199,806)
Net assets	11,001,936		10,690,458		1,700,111
Total equity	11,001,936		10,690,458		1,700,111
Attributable to NCI	2,624,933		2,603,227		$ 405,627
Summarized statement of comprehensive income
Revenue	20,557,660	3,176,743	17,980,304	16,210,467
Profit after tax	829,042	128,111	825,807	972,010
Total comprehensive income for the year	826,214	127,674	828,861	867,438
Attributable to NCI	229,231	35,423	254,284	252,394
Summarized statement of cash flows
Operating	1,476,034	228,089	1,632,557	701,716
Investing	(794,291)	(122,741)	(858,904)	(331,416)
Financing	(505,997)	(78,191)	(656,576)	(66,975)
Net increase in cash and cash equivalents	¥ 175,746	$ 27,157	¥ 117,077	¥ 303,325

Investments in Subsidiaries - Additional Information (Detail) ¥ in Millions, $ in Millions	Feb. 28, 2019 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Feb. 28, 2019 USD ($)
Disclosure of subsidiaries [line items]
Cash and cash equivalents subject to local exchange control regulations		¥ 5,289.2	$ 817.3	¥ 5,112.8
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%
YC Europe Co [member]
Disclosure of subsidiaries [line items]
Percentage of equity interest acquired	7.50%				7.50%
Cash consideration	¥ 0.1				$ 0.1

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, 2020

CNY (¥)

Dec. 31, 2020

USD ($)

Dec. 31, 2019

CNY (¥)

Dec. 31, 2018

CNY (¥)

Dec. 31, 2020

USD ($)

Share of (loss)/profit of joint ventures, net of tax

¥ (59,422)

$ (9,183)

¥ 19,215

¥ 11,693

Y & C Engine Co., Ltd. [Member]

227,120

273,991

222,812

$ 35,096

Share of (loss)/profit of joint ventures, net of tax

(44,016)

(6,802)

28,484

17,612

MTU Yuchai Power Co., Ltd [member]

145,599

176,082

22,499

Share of (loss)/profit of joint ventures, net of tax

3,238

500

594

(6,882)

Eberspaecher Yuchai Exhaust Technology Co., Ltd [member]

62,217

59,931

9,614

Share of (loss)/profit of joint ventures, net of tax

(19,157)

(2,960)

(9,366)

Other Joint Ventures [member]

^[1]

12,638

31,794

1,953

Share of (loss)/profit of joint ventures, net of tax

513

$ 79

(497)

¥ 963

¥ 6,666

¥ 6,184

$ 1,030

[1]	Eberspaecher Yuchai was incorporated on December 5, 2018. In March 2019 and December 2019, the Group injected RMB 17.6 million and RMB 23.5 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) - CNY (¥) ¥ in Thousands	1 Months Ended		12 Months Ended
	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2019
Disclosure of joint ventures [line items]
Additional investment in joint ventures			¥ 41,160
Eberspaecher Yuchai [member]
Disclosure of joint ventures [line items]
Additional investment in joint ventures	¥ 23,500	¥ 17,600

Investment in Joint Ventures - Additional Information (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Disclosure of joint ventures [line items]
Share of capital commitment	¥ 2,100	$ 300	¥ 81,000
Cash and cash equivalents	5,877,647	908,264	5,753,268	$ 889,044	¥ 5,559,890	¥ 5,390,324
People's Republic of China [member]
Disclosure of joint ventures [line items]
Cash and cash equivalents	30,400	4,700	44,800
Y & C Engine Co., Ltd. [Member]
Disclosure of joint ventures [line items]
Cash and cash equivalents	160,844		164,942
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	40,100	6,200	45,000
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	58,400	9,000	11,400
Joint ventures [member]
Disclosure of joint ventures [line items]
Cash and cash equivalents	206,173	31,860	228,774
Share of restricted cash	65,200	10,100	60,800
Bills receivables	¥ 28,600	$ 4,400	¥ 50,800

Investment in Joint Ventures - Interest in Joint Ventures (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2017 CNY (¥)
Disclosure of joint ventures [line items]
Non-current assets	¥ 7,029,973		¥ 6,471,887		$ 1,086,331
Cash and bank balances	5,877,647		5,753,268	¥ 5,559,890	908,264	$ 889,044	¥ 5,390,324
Others	23,164		26,956		3,579
Total assets	26,290,958		23,854,191	21,657,964	4,062,701
Non-current liabilities	(1,406,453)		(1,071,751)		(217,338)
Others			(999)
Total liabilities	(14,458,248)		(12,280,806)	(10,510,410)	(2,234,211)
Equity	11,832,710		11,573,385	11,147,554	1,828,490		¥ 10,961,904
Investment in joint ventures	227,120		273,991	222,812	35,096
Revenue	20,581,170	$ 3,180,376	18,016,085	16,263,248
Depreciation and amortization	(494,607)	(76,430)	(465,209)	(433,885)
Interest expense	(147,293)	(22,761)	(126,851)	(108,339)
Profit/(loss) for the year, representing total comprehensive income for the year	712,710	110,133	872,217	1,056,291
Group's share of profit of other joint ventures, representing the Group's share of total comprehensive income of other joint ventures	(59,422)	$ (9,183)	19,215	¥ 11,693
Y & C Engine Co., Ltd. [Member]
Disclosure of joint ventures [line items]
Non-current assets	740,423		774,046
Cash and bank balances	160,844		164,942
Others	1,287,935		1,060,805
Total assets	2,189,202		1,999,793
Non-current liabilities	(417,759)		(84,154)
Others	(1,340,704)		(1,396,116)
Total liabilities	(1,758,463)		(1,480,270)
Equity	¥ 430,739		¥ 519,523
Proportion of the Group's ownership	45.00%	45.00%	45.00%	45.00%
Group's share of net assets	¥ 193,833		¥ 233,786
Unrealized profit on transactions with joint venture	(48,234)		(57,704)
Investment in joint ventures	145,599		176,082		22,499
Revenue	3,021,877		2,404,244	¥ 1,443,238
Depreciation and amortization	(59,406)		(26,099)	(45,254)
Interest expense	(40,709)		(29,606)	(24,605)
Profit/(loss) for the year, representing total comprehensive income for the year	¥ (88,785)		¥ 44,484	¥ 43,359
Proportion of the Group's ownership	45.00%	45.00%	45.00%	45.00%
Group's share of profit/(loss)	¥ (39,953)		¥ 20,018	¥ 19,512
Unrealized profit on transactions with joint venture	(4,063)		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	(44,016)	$ (6,802)	28,484	17,612
Y & C Engine Co., Ltd. [Member] \| Significant Joint Ventures [member]
Disclosure of joint ventures [line items]
Investment in joint ventures	145,599		176,082
Group's share of profit of other joint ventures, representing the Group's share of total comprehensive income of other joint ventures	(44,016)		28,484	17,612
Joint ventures [member]
Disclosure of joint ventures [line items]
Non-current assets	857,641		876,409		132,530
Cash and bank balances	206,173		228,774		31,860
Others	1,597,953		1,290,257		246,929
Total assets	2,661,767		2,395,440		411,319
Non-current liabilities	(417,759)		(84,154)		(64,556)
Others	(1,651,627)		(1,597,447)		(255,223)
Total liabilities	(2,069,386)		(1,681,601)		(319,779)
Equity	592,381		713,839		91,540
Investment in joint ventures	227,120		273,991		35,096
Revenue	3,375,542	521,617	2,586,549	1,603,818
Depreciation and amortization	(62,116)	(9,599)	(32,503)	(48,998)
Interest expense	(42,692)	(6,597)	(34,623)	(26,294)
Profit/(loss) for the year, representing total comprehensive income for the year	(121,459)	(18,769)	25,970	39,162
Group's share of profit of other joint ventures, representing the Group's share of total comprehensive income of other joint ventures	(59,422)	(9,183)	19,215	11,693
Joint ventures [member] \| Significant Joint Ventures [member]
Disclosure of joint ventures [line items]
Investment in joint ventures	220,454		267,807		34,066
Group's share of profit of other joint ventures, representing the Group's share of total comprehensive income of other joint ventures	(59,935)	(9,262)	19,712	10,730
Joint ventures [member] \| Other Joint Ventures [member]
Disclosure of joint ventures [line items]
Investment in joint ventures	6,666		6,184		1,030
Group's share of profit of other joint ventures, representing the Group's share of total comprehensive income of other joint ventures	513	$ 79	(497)	¥ 963
MTU Yuchai Power Co., Ltd [member]
Disclosure of joint ventures [line items]
Non-current assets	71,635		78,362
Cash and bank balances	43,056		9,265
Others	266,123		221,482
Total assets	380,814		309,109
Others	(244,963)		(179,680)
Total liabilities	(244,963)		(179,680)
Equity	¥ 135,851		¥ 129,429
Proportion of the Group's ownership	50.00%	50.00%	50.00%	50.00%
Group's share of net assets	¥ 67,926		¥ 64,714
Unrealized profit on transactions with joint venture	(5,709)		(4,783)
Investment in joint ventures	62,217		59,931		$ 9,614
Revenue	307,699		178,796	¥ 160,580
Depreciation and amortization	(2,350)		(6,379)	(3,744)
Interest expense	(1,983)		(5,017)	(1,689)
Profit/(loss) for the year, representing total comprehensive income for the year	¥ 6,421		¥ 600	¥ (4,197)
Proportion of the Group's ownership	50.00%	50.00%	50.00%	50.00%
Group's share of profit/(loss)	¥ 3,211		¥ 300	¥ (2,099)
Unrealized profit on transactions with joint venture	27		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	3,238	$ 500	594	(6,882)
MTU Yuchai Power Co., Ltd [member] \| Significant Joint Ventures [member]
Disclosure of joint ventures [line items]
Investment in joint ventures	62,217		59,931
Group's share of profit of other joint ventures, representing the Group's share of total comprehensive income of other joint ventures	3,238		594	¥ (6,882)
Eberspaecher Yuchai [Member]
Disclosure of joint ventures [line items]
Non-current assets	45,583		24,001
Cash and bank balances	2,273		54,567
Others	43,895		7,970
Total assets	91,751		86,538
Others	(65,960)		(21,651)
Total liabilities	(65,960)		(21,651)
Equity	¥ 25,791		¥ 64,887
Proportion of the Group's ownership	49.00%	49.00%	49.00%
Unrealized profit on transactions with joint venture	¥ 12,638		¥ 31,794
Revenue	45,966		3,509
Depreciation and amortization	(360)		(25)
Profit/(loss) for the year, representing total comprehensive income for the year	¥ (39,095)		¥ (19,114)
Proportion of the Group's ownership	49.00%	49.00%	49.00%
Group's share of profit/(loss)	¥ (19,157)		¥ (9,366)
Eberspaecher Yuchai [Member] \| Significant Joint Ventures [member]
Disclosure of joint ventures [line items]
Investment in joint ventures	12,638		31,794
Group's share of profit of other joint ventures, representing the Group's share of total comprehensive income of other joint ventures	¥ (19,157)		¥ (9,366)

Revenue from Contracts with Customers - Summary of Contract Balances (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)
Disclosure of contract assets liabilities [abstract]
Trade receivables (Note 15)	¥ 289,048	$ 44,666	¥ 737,067
Capitalized contract cost	127,704	19,734	136,457	$ 21,086	¥ 44,434
Contract liabilities (Note 24)	¥ 935,462	$ 144,556	¥ 436,622

Revenue from Contracts with Customers - Summary of Contract Balances (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2020
Disclosure of contract assets liabilities [abstract]
Contract performance obligations description	According to the business customary practice, the remaining performance obligations (unfulfilled service-type 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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Disclosure of performance obligations [abstract]
Amounts include in contract liabilities	¥ 363,464	$ 56,166	¥ 72,321

Revenue from contracts with customers - Schedule Of Contract Cost Capitalized (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Contract assets [abstract]
Contract assets	¥ 136,457	$ 21,086	¥ 44,434
Additions To Contract Assets	24,147	3,731	93,549
Reclassified to development costs	(21,519)	(3,325)
Released to consolidated statement of profit or loss	(11,381)	(1,758)	(1,526)
Contract assets	¥ 127,704	$ 19,734	¥ 136,457

Revenue from contracts with customers - Performance Obligations (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Disclosure of transaction price allocated to remaining performance obligations [line items]
Total unfulfilled service-type maintenance service	¥ 179,723	$ 27,773	¥ 181,139
Within one year [member]
Disclosure of transaction price allocated to remaining performance obligations [line items]
Total unfulfilled service-type maintenance service	112,454	17,377	127,326
More than one year [member]
Disclosure of transaction price allocated to remaining performance obligations [line items]
Total unfulfilled service-type maintenance service	¥ 67,269	$ 10,396	¥ 53,813

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, 2020

CNY (¥)

Dec. 31, 2020

USD ($)

Dec. 31, 2019

CNY (¥)

Dec. 31, 2018

CNY (¥)

Amortization of intangible assets

¥ 1,012

$ 156

¥ 1,012

Amortization of prepaid operating lease

¥ 12,724

Depreciation of investment property

376

380

884

Depreciation of property, plant and equipment

450,092

69,552

422,859

420,277

Depreciation of right-of-use assets

43,127

^[1]

6,664

^[1]

40,958

494,607

76,430

465,209

433,885

Cost of sales [member]

Research and development expenses [Member]

327,866

50,664

315,445

312,769

Selling general and administrative expenses [member]

26,815

4,144

16,470

26,751

Disclosure of deferred tax assets and liabilities [Line Items]

¥ 139,926

$ 21,622

¥ 133,294

¥ 94,365

[1]	In 2020, COVID-19 related rent rebate received from lessors of RMB 0.2 million (less than US$ 0.1 million) has been offset against the depreciation of right-of-use assets.

Other Income and Expenses Recognized in Statement of Profit and Loss - Summary of Depreciation and Amortization (Parenthetical) (Detail) - 12 months ended Dec. 31, 2020 ¥ in Millions, $ in Millions	CNY (¥)	USD ($)
COVID - 19 [Member]
Disclosure of income statement [line items]
Rent Rebate Income	¥ 0.2	$ 0.1

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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Selling general and administrative expenses [member]
Disclosure of income statement [line items]
Selling, general and administrative expenses	¥ 237,683	$ 36,729	¥ 221,255	¥ 211,971

Other Income and Expenses Recognized in Statement of Profit and Loss - Summary of Other Operating Income (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Disclosure Of Information On Income Statement [line items]
Interest income	¥ 166,970	$ 25,801	¥ 177,261	¥ 147,244
Dividend income from quoted equity securities	166	26	959	1,992
Gain on disposal of property, plant and equipment				8,835
Gain on disposal of quoted equity securities	874	135	11,528
Gain on disposal of right-of-use assets	2,574	398	9,237
Government grants	209,793	32,419	122,371	32,237
Fair value gain on quoted equity securities			1,118
Fair value gain on foreign exchange forward contract	999	154		4,529
Realised foreign exchange gain, net	1,390	215	3,604	5,306
Unrealised foreign exchange gain, net	1,827	282	4,679	(4,235)
Others	15,676	2,423	16,404	9,235
Other operating income	¥ 400,269	$ 61,853	¥ 347,161	¥ 205,143

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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Profit or loss [abstract]
Fair value loss on quoted equity securities	¥ 1,196	$ 185		¥ 3,433
Fair value loss on foreign exchange forward contract			¥ 5,529
Loss on disposal of property, plant and equipment	4,183	646	645
Provision for onerous contract	13,639	2,108
Others	2,304	356	2,501	9,030
Other operating expenses	¥ 21,322	$ 3,295	¥ 8,675	¥ 12,463

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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Profit or loss [abstract]
Bank term loans	¥ 95,357	$ 14,735	¥ 76,721	¥ 71,513
Bills discounting	49,738	7,686	47,212	36,826
Bank charges	3,877	599	4,945	4,749
Interest on lease liabilities (Note 18)	2,198	340	2,918
Finance costs	¥ 151,170	$ 23,360	¥ 131,796	¥ 113,088

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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Disclosure of income statement [line items]
Wages and salaries	¥ 1,364,751	$ 210,893	¥ 1,122,712	¥ 1,176,465
Contribution to defined contribution plans	287,830	44,478	324,623	296,073
Executive bonuses	59,908	9,257	59,791	57,674
Staff welfare	94,982	14,677	82,692	76,689
Staff severance cost	19,712	3,046	15,454	28,018
Others	3,439	532	6,012	8,441
Staff costs	1,830,622	282,883	1,611,284	1,643,360
Cost of sales [member]
Disclosure of income statement [line items]
Staff costs	912,304	140,977	808,763	822,570
Research and development expenses [Member]
Disclosure of income statement [line items]
Staff costs	258,118	39,886	243,049	213,826
Selling general and administrative expenses [member]
Disclosure of income statement [line items]
Staff costs	¥ 660,200	$ 102,020	¥ 559,472	¥ 606,964

Income Tax Expense - Summary of Income Tax Expense (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Current income tax
Current year	¥ 180,254	$ 27,854	¥ 193,878	¥ 209,448
Over provision in respect of prior years	(124)	(19)	(6,985)	(729)
Deferred tax
Movement in temporary differences	12,543	1,938	(14,274)	(2,052)
Over provision in respect of prior years	(135)	(20)
Consolidated income tax expense reported in the statement of profit or loss	¥ 192,538	$ 29,753	¥ 172,619	¥ 206,667

- 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, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018	Dec. 31, 2020 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	¥ 112.5	¥ 106.9		$ 17.4
Unrecognized deferred tax liability relating to undistributed earnings	¥ 236.4	¥ 253.5		$ 36.5
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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Reconciliation of accounting profit multiplied by applicable tax rates [abstract]
Accounting profit before tax	¥ 971,864	$ 150,180	¥ 1,033,319	¥ 1,181,067
Computed tax expense at 15% (2019: 15%, 2018: 15%)	145,780	22,527	154,998	177,160
Adjustments resulting from:
Non-deductible expenses	9,188	1,420	3,982	5,146
Tax-exempt income	(601)	(93)	(6,171)	(3,634)
Utilization of deferred tax benefits previously not recognized	(1,996)	(308)	(5,076)	(5,518)
Deferred tax benefits not recognized	6,097	942	6,613	2,183
Tax credits for research and development expense	(26,329)	(4,068)	(31,863)	(22,407)
Tax rate differential	24,251	3,747	26,223	24,437
Over provision in respect of previous years	(259)	(39)	(6,985)	(729)
Withholding tax expense	36,332	5,614	30,898	30,029
Others	75	11
Consolidated income tax expense reported in the statement of profit or loss	¥ 192,538	$ 29,753	¥ 172,619	¥ 206,667

Income Tax Expense - Reconciliation of Income Tax Expense (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
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, 2020

CNY (¥)

Dec. 31, 2020

USD ($)

Dec. 31, 2019

CNY (¥)

Dec. 31, 2018

CNY (¥)

Dec. 31, 2020

USD ($)

¥ (112,456)

¥ (153,486)

$ (17,378)

400,198

422,960

61,842

Net deferred tax assets

287,742

269,474

44,464

Accelerated depreciation [Member]

(12,408)

$ (1,918)

14,274

¥ 2,052

Disclosure of deferred tax assets and liabilities [Line Items]

(100,802)

(44,920)

(15,577)

Interest receivable [Member]

(55,882)

(8,635)

(17,366)

(12,432)

Disclosure of deferred tax assets and liabilities [Line Items]

(1,937)

(1,644)

(299)

PRC withholding tax on dividend income [Member]

(293)

(45)

608

(1,478)

Disclosure of deferred tax assets and liabilities [Line Items]

^[1]

(112,456)

(106,922)

(17,378)

Impairment of property, plant and equipment [Member]

^[1]

(36,255)

(5,602)

(30,721)

(29,842)

Disclosure of deferred tax assets and liabilities [Line Items]

40,104

6,648

6,197

Write-down of inventories [member]

33,456

5,170

(9,295)

3,624

Disclosure of deferred tax assets and liabilities [Line Items]

22,628

18,403

3,497

Allowance for doubtful account receivables [Member]

4,225

653

2,343

(1,433)

Disclosure of deferred tax assets and liabilities [Line Items]

8,056

10,077

1,245

Disclosure of deferred tax assets and liabilities [Line Items]

(2,021)

(312)

4,900

(2,199)

Accruals [member]

298,766

250,662

46,168

Disclosure of deferred tax assets and liabilities [Line Items]

48,149

7,440

46,108

(186)

Deferred income [Member]

108,942

107,731

16,834

Disclosure of deferred tax assets and liabilities [Line Items]

1,211

187

12,232

43,820

Others [Member]

24,441

29,439

$ 3,777

Disclosure Of Detailed Information About Lease Cost [Line Items]

¥ (4,998)

$ (774)

¥ 5,465

¥ 2,178

[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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Disclosure of deferred tax assets and liabilities [Line Items]
Beginning balance	¥ (153,486)
Ending balance	(112,456)	$ (17,378)	¥ (153,486)
PRC withholding tax on dividend income [Member]
Disclosure of deferred tax assets and liabilities [Line Items]
Beginning balance	(106,922)	(16,522)	(106,922)
Provision made to consolidated statement of profit or loss	(36,255)	(5,602)	(30,721)
Utilization	30,721	4,746	30,721
Ending balance	¥ (112,456)	$ (17,378)	¥ (106,922)

Income Tax Expense - Classification of the Group's Net Deferred Tax Assets (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Deferred tax assets and liabilities [abstract]
Deferred tax assets	¥ 400,198	$ 61,842	¥ 422,960
Deferred tax liabilities	(112,456)	(17,378)	(153,486)
Net deferred tax assets	¥ 287,742	$ 44,464	¥ 269,474

Income Tax Expense - Deferred Tax Assets That Have Not Been Recognized (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract]
Unutilized tax losses	¥ 404,215	$ 62,463	¥ 414,226
Unutilized capital allowances and investment allowances	105,622	16,322	107,613
Other unrecognized temporary differences relating to asset impairment and deferred grants	204,423	31,589	215,296
Deferred tax assets have not been recognised	¥ 714,260	$ 110,374	¥ 737,135

Earnings Per Share - Summary of Earnings Per Share (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 CNY (¥) shares	Dec. 31, 2018 CNY (¥) shares
Earnings per share [abstract]
Profit attributable to ordinary equity holders of the parent	¥ 548,903	$ 84,821	¥ 604,914	¥ 695,266
Weighted average number of ordinary shares	40,858,290	40,858,290	40,858,290	40,858,290
Weighted average number of ordinary shares adjusted for effect of dilution	40,858,290	40,858,290	40,858,290	40,858,290

Earnings Per Share - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	¥ 4,210,444
Charge for the year	450,092	$ 69,552	¥ 422,859	¥ 420,277
Impairment loss	3,920	606	3,950	30,173
Ending balance	4,258,760	658,100	4,210,444
Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	9,020,638		8,376,567
Additions	554,847		918,280
Disposals	(274,006)		(29,167)
Write-off	(73,571)		(248,068)
Translation difference	(6,088)		3,026
Ending balance	9,221,820		9,020,638	8,376,567
Accumulated depreciation, amortization and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(4,810,194)		(4,620,067)
Charge for the year	478,320		453,219
Disposals	261,499		23,895
Write-off	66,154		243,931
Impairment loss	3,920		3,950
Translation difference	(1,721)		784
Ending balance	(4,963,060)		(4,810,194)	(4,620,067)
Freehold land [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	14,323
Ending balance	13,605	2,102	14,323
Freehold land [member] \| Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	14,836		14,430
Translation difference	(744)		406
Ending balance	14,092		14,836	14,430
Freehold land [member] \| Accumulated depreciation, amortization and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(513)		(499)
Translation difference	(26)		14
Ending balance	(487)		(513)	(499)
Leasehold buildings and improvements [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	1,527,287
Ending balance	1,514,989	234,109	1,527,287
Leasehold buildings and improvements [member] \| Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	2,376,090		2,342,545
Additions	16,273		14,851
Disposals	(4,664)		(762)
Transfers	75,264		45,412
Write-off	(9,759)		(27,911)
Translation difference	(3,825)		1,955
Ending balance	2,449,379		2,376,090	2,342,545
Leasehold buildings and improvements [member] \| Accumulated depreciation, amortization and impairment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(848,803)		(768,320)
Charge for the year	92,034		105,818
Disposals	1,102		284
Write-off	4,660		25,376
Translation difference	(685)		325
Ending balance	(934,390)		(848,803)	(768,320)
Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	1,037,035
Ending balance	700,716	108,280	1,037,035
Construction in progress [member] \| Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	1,037,035		470,188
Additions	487,725		884,145
Transfers	(823,981)		(317,294)
Translation difference	(63)		(4)
Ending balance	700,716		1,037,035	470,188
Plant and machinery [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	1,545,272
Ending balance	1,935,681	299,118	1,545,272
Plant and machinery [member] \| Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	5,285,022		5,238,702
Additions	20,617		4,260
Disposals	(260,996)		(15,468)
Transfers	741,218		268,896
Write-off	(53,917)		(211,589)
Translation difference	(459)		221
Ending balance	5,731,485		5,285,022	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	(3,739,750)		(3,645,984)
Charge for the year	357,434		311,402
Disposals	253,121		11,467
Write-off	51,910		210,253
Impairment loss	3,920		3,950
Translation difference	(269)		134
Ending balance	(3,795,804)		(3,739,750)	(3,645,984)
Office furniture, fittings and equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	43,444
Ending balance	44,055	6,808	43,444
Office furniture, fittings and equipment [member] \| Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	195,154		193,019
Additions	14,066		6,763
Disposals	(3,604)		(902)
Transfers	7,323		2,986
Write-off	(8,983)		(7,126)
Translation difference	(866)		414
Ending balance	203,090		195,154	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	(151,710)		(133,524)
Charge for the year	19,913		25,324
Disposals	3,218		547
Write-off	8,719		6,883
Translation difference	(651)		292
Ending balance	(159,035)		(151,710)	(133,524)
Motor and transport vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	43,083
Ending balance	49,714	$ 7,683	43,083
Motor and transport vehicles [member] \| Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	112,501		117,683
Additions	16,166		8,261
Disposals	(4,742)		(12,035)
Transfers	176
Write-off	(912)		(1,442)
Translation difference	(131)		34
Ending balance	123,058		112,501	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	(69,418)		(71,740)
Charge for the year	8,939		10,675
Disposals	4,058		11,597
Write-off	865		1,419
Translation difference	(90)		19
Ending balance	¥ (73,344)		¥ (69,418)	¥ (71,740)

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Parenthetical) (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Disclosure of detailed information about property, plant and equipment [abstract]
Depreciation capitalized as intangible assets	¥ 28.2	$ 4.4	¥ 21.6
Depreciation capitalized as contract assets	¥ 0.0	$ 0.0	¥ 8.8

Property, Plant and Equipment - Additional Information (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Disclosure of detailed information about property, plant and equipment [abstract]
Impairment loss	¥ 3,920	$ 606	¥ 3,950	¥ 30,173
Property, plant and equipment pledged to secure bank facilities	¥ 0		¥ 0

Investment Property - Summary of Investment Property (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Disclosure of detailed information about investment property [line items]
Beginning balance	¥ 6,552
Charge for the year	376	$ 58	¥ 380	¥ 884
Ending balance	5,829	901	6,552
Consolidated statements of profit or loss:
Rental income from an investment property	230	36	375
Direct operating expenses (including repairs, maintenance and depreciation expense) arising from the rental generating property	(180)	(28)	(294)
Fair value [member]
Disclosure of detailed information about investment property [line items]
Beginning balance	11,419
Ending balance	11,954	1,847	11,419
Cost [member]
Disclosure of detailed information about investment property [line items]
Beginning balance	34,940	5,399	33,972
Translation difference	(1,753)	(271)	968
Ending balance	33,187	5,128	34,940	33,972
Accumulated depreciation, amortization and impairment [member]
Disclosure of detailed information about investment property [line items]
Beginning balance	(28,388)	(4,387)	(27,207)
Charge for the year	376	58	380
Translation difference	(1,406)	(218)	801
Ending balance	¥ (27,358)	$ (4,227)	¥ (28,388)	¥ (27,207)

Investment Property - Summary of Fair Value Measurement of Investment Property (Detail) - Market comparison and cost method [member]	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
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 172 to RMB 418 (US$27 to US$65) per square foot	Comparable price: - RMB 166 to RMB 440 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

Intangible Assets - Summary of Intangible Assets (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill beginning balance	¥ 954,144
Amortization	1,012	$ 156	¥ 1,012
Intangible assets and goodwill ending balance	1,483,968	229,315	954,144
Technology Know-how [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill beginning balance	9,110
Intangible assets and goodwill ending balance	8,098	1,251	9,110
Development costs [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill beginning balance	562,587
Intangible assets and goodwill ending balance	1,093,423	168,965	562,587
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	32,858	212,636
Trademarks [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill beginning balance	169,811
Intangible assets and goodwill ending balance	169,811	$ 26,241	169,811
Cost [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill beginning balance	1,087,531		551,012
Addition	530,836		536,519
Intangible assets and goodwill ending balance	1,618,367		1,087,531
Cost [member] \| Technology Know-how [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill beginning balance	136,822		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	562,587		195,879
Addition	530,836		366,708
Intangible assets and goodwill ending balance	1,093,423		562,587
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]
Intangible assets and goodwill beginning balance	169,811
Addition			169,811
Intangible assets and goodwill ending balance	169,811		169,811
Accumulated depreciation, amortisation and impairment [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets and goodwill beginning balance	(133,387)		(132,375)
Amortization	1,012		1,012
Intangible assets and goodwill ending balance	(134,399)		(133,387)
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	(127,712)		(126,700)
Amortization	1,012		1,012
Intangible assets and goodwill ending balance	(128,724)		(127,712)
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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Yuchai
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	¥ 212,636	$ 32,858	¥ 212,636

Intangible Assets - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2017 CNY (¥)
Disclosure of detailed information about intangible assets [line items]
Intangible asset, carrying amount	¥ 1,483,968,000	¥ 954,144,000	$ 229,315
Pre-tax discount rate	12.37%	13.32%
Estimated revenue growth rate	0.00%	10.00%
Pre-tax discount rate that would result in an impairment	13.58%	14.79%	13.58%
Increase decrease in impairment charge	25.94%	4.53%
Estimation of future business projection	In 2019 and 2020, the Group performs an impairment test on the development costs that are not available for 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 2019, the Group used 10 years forecast and in 2020, in view of current speed of technological change, management shortened the projection period to eight years. Both the 2019 and 2020 cash flow forecasts were based on the updated financial budgets approved by the senior management with no terminal value.
Pre-tax discount rate applied to cash flow projection	20.05%	14.13%	20.05%
Long term rates used to extrapolate the budget	6.00%	5.70%	6.00%
Percentage decrease in demand that would result in an impairment	13.99%	17.57%	13.99%
Long term growth rate that would result in an impairment	3.60%	2.40%	3.60%
Payment for trademark license fee		¥ 169,800,000
Capitalized developemnt costs gross	¥ 1,483,968,000	¥ 954,144,000	$ 229,315
Bottom of range [member]
Disclosure of detailed information about intangible assets [line items]
Estimated revenue growth rate	5.00%	10.00%
Top of range [member]
Disclosure of detailed information about intangible assets [line items]
Estimated revenue growth rate	10.00%	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	12.37%	13.32%	12.37%
Impairment on goodwill	¥ 0
Technology development cost [member]
Disclosure of detailed information about intangible assets [line items]
Intangible asset, carrying amount	530,800,000	¥ 366,700,000	$ 82,000	¥ 10,100,000
Capitalized developemnt costs gross	¥ 1,093,400,000		$ 169,000
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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Classes of current inventories [abstract]
Raw materials	¥ 1,940,119	$ 299,804	¥ 1,500,034
Work in progress	33,211	5,132	35,688
Finished goods	2,497,865	385,991	1,288,415
Total inventories at the lower of cost and net realizable value	¥ 4,471,195	$ 690,927	¥ 2,824,137

Inventories - Summary of Analysis of Inventory Reserve Accounts (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Write-downs (reversals of write-downs) of inventories [abstract]
Inventories recognized as an expense in cost of sales	¥ 15,501,807	$ 2,395,470	¥ 13,167,181	¥ 11,471,988
Inventories written down	82,386	12,731	31,810	25,194
Reversal of write-down of inventories	¥ (54,408)	$ (8,408)	¥ (14,788)	¥ (33,662)

Other Current Assets - Summary of Other Current Assets (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Miscellaneous current assets [abstract]
Development properties	¥ 16,906	$ 2,612	¥ 17,721
Quoted equity securities	6,258	967	9,235
Total	¥ 23,164	$ 3,579	¥ 26,956

Other Current Assets - Summary of Other Current Assets (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Other Current Assets [line items]
Impairment loss on development properties	¥ 0		¥ 3,000
Proceeds from disposal of equity securities	1,354	$ 209	16,429
Gain on disposal on equity investments	¥ 874	$ 135	¥ 11,528

Trade and Other Receivables - Summary of Trade and Other Receivables (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Current
Trade receivables, gross	¥ 332,567	$ 51,391	¥ 794,678
Less: Allowance for expected credit losses	(43,519)	(6,725)	(57,611)
Net trade receivables (Note 6.2)	289,048	44,666	737,067
Bill receivables	7,793,343	1,204,293	7,005,234
Total (Note 34)	8,082,391	1,248,959	7,742,301
Current receivables from associates and joint ventures (trade)	1,266	196	609
Current receivables from associates and joint ventures (non-trade)	11,119	1,718	11,185
Current receivables from related parties (trade)	9,663	1,493	73,243
Current receivables from related parties (non-trade)	2,992	462	2,092
Staff advances	3,326	514	7,133
Interest receivables	4,999	772	12,224
Bills receivable in transit	12,620	1,950	8,700
Refundable deposits	283	44	2,131
Others	36,668	5,667	49,218
Less: Impairment losses – other receivables	(6,741)	(1,042)	(5,243)
Other receivables carried at amortized cost (Note 34)	76,195	11,774	161,292
Tax recoverable	236,400	36,531	223,652
Prepayments	64,102	9,906	63,048
Net other receivables	376,697	58,211	447,992
Total trade and other receivables	¥ 8,459,088	$ 1,307,170	¥ 8,190,293

Trade and Other Receivables - Summary of Trade and Other Receivables (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Disclosure of trade and other receivables [line items]
Bills receivable	¥ 7,793,343		¥ 7,005,234	$ 1,204,293
Impairment loss on bills receivable in transit	6,500	$ 1,000	5,000
Secured bank facilities [member]
Disclosure of trade and other receivables [line items]
Bills receivable				0	$ 0
Other related parties [member]
Disclosure of trade and other receivables [line items]
Bills receivable	¥ 1,014,100		¥ 1,050,700	$ 156,700

Trade and Other Receivables - Additional Information (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 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	¥ 2,225,100	$ 343,800	¥ 2,268,400
Outstanding bills receivable endorsed to suppliers with recourse obligation	1,834,500	283,500	1,120,300
Gross trade receivables	332,567	51,391	794,678
Dongfeng companies [member]
Disclosure of trade and other receivables [line items]
Gross trade receivables	¥ 17,600	$ 2,700	¥ 136,400
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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Reconciliation of changes in allowance account for credit losses of financial assets [abstract]
Beginning balance	¥ 62,854	$ 9,713	¥ 30,586
Debit/(credit) to consolidated statement of profit or loss	(12,349)	(1,908)	32,340
Written off	(242)	(37)	(62)
Translation difference	(3)	(1)	(10)
Ending balance	¥ 50,260	$ 7,767	¥ 62,854

Cash and Cash Equivalents - Summary of Cash and Bank Balances (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Non-current
Long-term bank deposits	¥ 140,000	$ 21,634	¥ 50,000
Current
Cash and cash equivalents	5,877,647	908,264	5,753,268	$ 889,044	¥ 5,559,890	¥ 5,390,324
Short-term bank deposits	258,756	39,985	356,543
Restricted cash	171,135	26,445	231,107
Total	6,307,538	974,694	6,340,918
Cash and bank balances	¥ 6,447,538	$ 996,328	¥ 6,390,918

Cash and Cash Equivalents - Summary of Cash and Bank Balances (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2020 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	¥ 140,000	¥ 50,000	$ 21,634
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	¥ 90,000	¥ 50,000	$ 13,900
Long term deposits maturity	3 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	0.23%	1.78%
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	3.85%	3.99%
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	2.25%	3.65%
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	3.99%	4.13%

Cash and Cash Equivalents - Additional Information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2020 USD ($)
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	¥ 171.1		¥ 231.1		$ 26.4
Undrawn borrowing facilities	491.9		295.0		76.0
Loan commitment fee incurred \| ¥	0.1		0.2	¥ 0.2
Fixed deposits held with related party	¥ 130.8		¥ 0.0		$ 20.2
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	0.10%		1.50%		0.10%
Loan commitment fee incurred \| $		$ 0.1
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	1.55%		3.15%		1.55%

Cash and Cash Equivalents - Summary of Cash Flows, Cash and Cash Equivalents (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2017 CNY (¥)
Cash and cash equivalents [abstract]
Cash at banks and on hand	¥ 5,466,288	$ 844,697	¥ 5,205,605
Short-term bank deposits	411,359	63,567	547,663
Cash and cash equivalents	¥ 5,877,647	$ 908,264	¥ 5,753,268	$ 889,044	¥ 5,559,890	¥ 5,390,324

Leases - Additional Information (Detail) ¥ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Statement [line items]
Cash outflows for leases	¥ 51.9	$ 8.0	¥ 65.6
Non-cash additions to right-of-use assets and lease liabilities	15.3	2.4	11.5
Operating lease rental income	¥ 13.3	$ 2.1	¥ 11.9
Bottom of range [member]
Statement [line items]
Operating lease, term	1 year	1 year
Operating lease term of contract	1 year	1 year
Top of range [member]
Statement [line items]
Operating lease, term	15 years	15 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) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	¥ 415,384	$ 64,189	¥ 446,608	$ 69,014
Addition	15,256	2,357	11,473	1,773
Depreciation expenses	(43,298)	(6,691)	(40,958)	(6,329)
Disposal	(3,198)	(494)	(1,771)	(274)
Translation difference	(143)	(22)	32	5
Ending balance	384,001	$ 59,339	415,384	$ 64,189
Leasehold land [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	353,807		369,925
Addition	2,058
Depreciation expenses	(14,102)		(14,347)
Disposal	(3,198)		(1,771)
Ending balance	338,565		353,807
Building and office space [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	61,556		76,644
Addition	13,198		11,473
Depreciation expenses	(29,182)		(26,597)
Translation difference	(142)		36
Ending balance	45,430		61,556
Office Furniture, Fittings and Equipment [member]
Disclosure of quantitative information about right-of-use assets [line items]
Beginning balance	21		39
Depreciation expenses	(14)		(14)
Translation difference	(1)		(4)
Ending balance	¥ 6		¥ 21

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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Disclosure Of Quantitative Information About Lease Liabilities [Line Items]
Beginning balance	¥ 60,007
Accretion of interest	2,198	$ 340	¥ 2,918
Payments	35,363	5,465	48,365
Ending balance	39,778	6,147	60,007
Current				¥ 22,755	$ 3,516	¥ 28,633
Non- current				17,023	2,631	31,374
Total	60,007	6,147	60,007	39,778	6,147	60,007
Increase (decrease) due to changes in accounting policy [member]
Disclosure Of Quantitative Information About Lease Liabilities [Line Items]
Beginning balance	60,007	9,273	96,852
Additions	15,256	2,357	11,473
Accretion of interest	2,198	340	2,918
Payments	(37,561)	(5,805)	(51,283)
Translation difference	(122)	(18)	47
Ending balance	39,778	6,147	60,007
Total	¥ 60,007	$ 9,273	¥ 60,007	¥ 39,778	$ 6,147	¥ 60,007

Leases - Summary of Detailed Information About Amounts Recognized In Profit of Loss (Detail)
¥ in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2020

CNY (¥)

Dec. 31, 2020

USD ($)

Dec. 31, 2019

CNY (¥)

Depreciation charge for right-of-use assets

¥ 43,127

^[1]

$ 6,664

^[1]

¥ 40,958

Interest expenses on lease liabilities

2,198

340

2,918

Expenses relating to short-term leases (included in selling, general and administrative costs and research and development cost)

14,313

2,212

14,341

Total amount recognized in profit or loss

¥ 59,638

$ 9,216

¥ 58,217

[1]	In 2020, COVID-19 related rent rebate received from lessors of RMB 0.2 million (less than US$ 0.1 million) has been offset against the depreciation of right-of-use assets.

Leases - Summary of Detailed Information About Future Minimum Rental Receivables Under Non-Cancellable Operating Leases (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Disclosure of maturity analysis of operating lease payments [line items]
Future minimum operating leases	¥ 51,108	$ 7,898	¥ 24,592
Within 1 Year [member] \| Related parties [member]
Disclosure of maturity analysis of operating lease payments [line items]
Future minimum operating leases	902	139	1,787
Within 1 Year [member] \| Joint ventures [member]
Disclosure of maturity analysis of operating lease payments [line items]
Future minimum operating leases	2,590	400	2,691
Within 1 Year [member] \| Third parties [member]
Disclosure of maturity analysis of operating lease payments [line items]
Future minimum operating leases	5,058	782	892
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
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	10,720	1,657	10,526
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	13,305	2,056	1,504
After than 5 years [member] \| Joint ventures [member]
Disclosure of maturity analysis of operating lease payments [line items]
Future minimum operating leases	14,141	2,185	5,643
After than 5 years [member] \| Third parties [member]
Disclosure of maturity analysis of operating lease payments [line items]
Future minimum operating leases	¥ 4,392	$ 679	¥ 889

Issued capital - Summary of Issued Capital (Detail) ¥ in Thousands, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥) shares	Dec. 31, 2020 USD ($) shares
Disclosure of classes of share capital [line items]
Ending balance	¥ 2,081,138	$ 321,595	¥ 2,081,138
Ordinary shares issued and fully paid
Ending balance			40,858,290
Equity
Ending balance	¥ 2,081,138	$ 321,595	¥ 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	¥ 0		¥ 0	$ 0
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, 2020	Dec. 31, 2019
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, 2020 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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Disclosure of dividends declared and paid on ordinary capital [line items]
Dividends on ordinary shares	¥ 245,871		¥ 238,758	¥ 597,459
Dividend paid in cash	245,871	$ 37,994	238,758
Final dividend [member]
Disclosure of dividends declared and paid on ordinary capital [line items]
Dividends on ordinary shares	¥ 245,871	$ 37,994	¥ 238,758

Dividends Declared and Paid - Summary of Dividends Declared and Paid (Parenthetical) (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of dividends declared and paid on ordinary capital [line items]
Dividends on ordinary shares, per share	$ 0.85	$ 0.85	$ 2.21
Final dividend [member]
Disclosure of dividends declared and paid on ordinary capital [line items]
Dividends on ordinary shares, per share	$ 0.85	$ 0.85

Reserves - Summary of Statutory Reserves (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Disclosure of reserves within equity [line items]
Beginning balance	¥ 304,307
Ending balance	307,165	$ 47,466	¥ 304,307
Statutory general reserve [member]
Disclosure of reserves within equity [line items]
Beginning balance	278,601	43,052	276,698
Transfer from retained earnings	2,858	442	1,903
Ending balance	281,459	43,494	278,601
General surplus reserve [member]
Disclosure of reserves within equity [line items]
Beginning balance	25,706
Ending balance	25,706	3,972	25,706
Capital reserves [member]
Disclosure of reserves within equity [line items]
Beginning balance	30,704
Ending balance	¥ 30,704	$ 4,745	¥ 30,704

Reserves - Summary of Statutory Reserves (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2020
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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Disclosure of other components of equity [line items]
Other components of equity	¥ (161,359)	$ (24,935)	¥ (105,422)
Foreign currency translation reserve [member]
Disclosure of other components of equity [line items]
Other components of equity	(89,925)	(13,896)	(36,091)
Performance shares reserves [member]
Disclosure of other components of equity [line items]
Other components of equity	19,758	3,053	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)	(1,773)	(11,472)
Fair value reserve of financial assets at FVOCI
Disclosure of other components of equity [line items]
Other components of equity	¥ (79,720)	$ (12,319)	¥ (77,617)

Share-based Payment - Additional Information (Detail) ¥ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2020 $ / shares	Dec. 31, 2019 $ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Equity incentive plan period	10 years
Exercise price for options outstanding \| $ / shares				$ 21.11	$ 21.11
Weighted average remaining contractual life for the share options outstanding	3.6 years	4.6 years
Expense arising from equity-settled share-based payment transactions \| ¥	¥ 0	¥ 0	¥ 0
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 - Number and Weighted Average Exercise Prices ("WAEP") of, and Movements in Share Options (Detail)	Dec. 31, 2020 shares $ / shares	Dec. 31, 2019 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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Trade and other current payables [abstract]
Trade payables	¥ 3,406,398	$ 526,385	¥ 2,953,479
Bills payables	3,348,163	517,386	2,764,013
Other payables	533,705	82,473	543,970
Accrued expenses	233,053	36,013	203,133
Accrued staff costs	714,701	110,442	653,854
Refund liabilities	1,031,562	159,406	757,655
Dividend payable	49,468	7,644	47,480
Amount due to associates and joint ventures (trade)	467,351	72,219	258,964
Amount due to associates and joint ventures (non-trade)	205	32	81
Amount due to related parties (trade)	238,622	36,874	221,413
Amount due to related parties (non-trade)	1,841	284	4,016
Financial liabilities carried at amortized cost (Note 31, Note 34)	10,025,069	1,549,158	8,408,058
Deferred grants (Note 27)	23,468	3,626	19,952
Advance from customers	320	50	383
Other tax payable	62,111	9,598	39,698
Total trade and other payables (current)	¥ 10,110,968	$ 1,562,432	¥ 8,468,091

Trade and Other Payables - Summary of Trade and Other Current Payables (Parenthetical) (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Disclosure Of Detailed Information About Trade And Other Payables [line items]
Bills payable	¥ 3,348,163	$ 517,386	¥ 2,764,013
Joint ventures [member]
Disclosure Of Detailed Information About Trade And Other Payables [line items]
Bills payable	105,600	16,300	125,000
Associates [member]
Disclosure Of Detailed Information About Trade And Other Payables [line items]
Bills payable	12,900	2,000	10,100
Other related parties [member]
Disclosure Of Detailed Information About Trade And Other Payables [line items]
Bills payable	¥ 249,000	$ 38,500	¥ 232,600

Trade and Other Payables - Summary of Other Non-current Payables (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Trade and other non-current payables [abstract]
Other payables (Note 31, Note 34)	¥ 191,563	$ 29,602	¥ 176,302

Trade and Other Payables - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020
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, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2019 USD ($)
Disclosure of other provisions [line items]
Beginning balance	¥ 218,031	$ 33,692	¥ 166,913	$ 25,793
Provision made	349,303	53,977	424,221	65,554
Provision utilized	(295,940)	(45,731)	(373,103)	(57,655)
Provision reversed	(2,316)	(358)
Ending balance	269,078	$ 41,580	218,031	$ 33,692
Product warranty provision [member]
Disclosure of other provisions [line items]
Beginning balance	215,715		166,913
Provision made	335,664		421,905
Provision utilized	(295,940)		(373,103)
Ending balance	255,439		215,715
Provision for onerous contract [member[
Disclosure of other provisions [line items]
Beginning balance	2,316
Provision made	13,639		2,316
Provision reversed	(2,316)
Ending balance	¥ 13,639		¥ 2,316

Contract Liabilities - Summary of Contract Liabilities (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Disclosure of contract liabilities [line items]
Contract liabilities	¥ 935,462	$ 144,556	¥ 436,622
Current	868,193	134,161	382,809
Non-current	67,269	10,395	53,813
Unfulfilled service-type maintenance services [member]
Disclosure of contract liabilities [line items]
Contract liabilities	179,723	27,773	181,139
Advance from customer [member]
Disclosure of contract liabilities [line items]
Contract liabilities	¥ 755,739	$ 116,783	¥ 255,483

Lease Liabilities - Summary of Detailed Information About In Lease Liabilities (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Disclosure Of Detailed Information About Lease Liabilities [Line Items]
Current	¥ 22,755	$ 3,516	¥ 28,633
Non- current	¥ 17,023	2,631	31,374
Lease Liabilities Current [Member]
Disclosure Of Detailed Information About Lease Liabilities [Line Items]
Maturity	2021
Current	¥ 22,755	$ 3,516	28,633
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	¥ 17,023	$ 2,631	¥ 31,374
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	2022
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	2026

Other Financial Liabilities - Summary of Other Financial Liabilities (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Derivative Not Designated As Hedges Foreign Exchange Forward Contract
Disclosure of Detailed Information About Other financial liabilities [Line Items]
Other financial liabilities	¥ 0	$ 0	¥ 999

Other Financial Liabilities - Summary of Loans and Borrowings (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2020 USD ($)
Disclosure of detailed information about borrowings [line items]
Non-current borrowings	¥ 500,000		$ 77,264
Current borrowings	¥ 1,730,000	¥ 2,055,046	$ 267,334
Non-current borrowings [member] \| Renminbi [Member]
Disclosure of detailed information about borrowings [line items]
Effective interest rate	3.30%		3.30%
Maturity	2022
Non-current borrowings	¥ 500,000		$ 77,264
Current borrowings [member]
Disclosure of detailed information about borrowings [line items]
Current borrowings		¥ 2,055,046
Current borrowings [member] \| Singapore dollar [Member]
Disclosure of detailed information about borrowings [line items]
Effective interest rate		2.84%
Maturity		2020
Current borrowings		¥ 15,522
Current borrowings [member] \| Renminbi [Member]
Disclosure of detailed information about borrowings [line items]
Maturity	2021	2020
Current borrowings	¥ 1,730,000	¥ 1,900,000	$ 267,334
Current borrowings [member] \| Renminbi [Member] \| Bottom of range [member]
Disclosure of detailed information about borrowings [line items]
Effective interest rate	1.80%	3.70%	1.80%
Current borrowings [member] \| Renminbi [Member] \| Top of range [member]
Disclosure of detailed information about borrowings [line items]
Effective interest rate	4.05%	4.13%	4.05%
Current borrowings [member] \| USD [Member]
Disclosure of detailed information about borrowings [line items]
Effective interest rate		2.52%
Maturity		2020
Current borrowings		¥ 139,524
MUFG Bank Ltd [member] \| Singapore dollar [Member]
Disclosure of detailed information about borrowings [line items]
Current borrowings		¥ 15,522

Other Financial Liabilities - Summary of Loans and Borrowings (Parenthetical) (Detail) $ in Millions	Dec. 31, 2019 SGD ($)
MUFG Bank Ltd [member]
Disclosure of detailed information about borrowings [line items]
Facility limit	$ 30

Other Financial Liabilities - Additional Information (Detail) $ in Millions, $ in Millions		12 Months Ended
	Jan. 01, 2019	Dec. 31, 2020 USD ($)	Dec. 31, 2020 SGD ($)	Jun. 24, 2020 USD ($)	Jun. 10, 2020 SGD ($)	Dec. 11, 2019 USD ($)	Jun. 01, 2018 SGD ($)
Disclosure of detailed information about borrowings [line items]
Exchange rate						7.0901
Forward contract [member]
Disclosure of detailed information about borrowings [line items]
Non-deliverable forward foreign exchange contract						$ 20.0
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		1.0 times
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		2.0 times
Facility limit			$ 30.0
Sumitomo branch [Member]
Disclosure of detailed information about borrowings [line items]
Credit facility maturity period		6 months
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
Consolidated tangible net worth ratio		2.0 times

Deferred Grants - Summary of Deferred Grants (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2020 USD ($)
Subclassifications of assets, liabilities and equities [abstract]
Beginning balance	¥ 676,728	$ 104,574	¥ 607,608
Received during the year	52,241	8,072	187,096
Grant receivable	129	20
Grant disbursed to partner of joint project	(48,632)	(7,515)
Released to consolidated statement of profit or loss	(138,856)	(21,457)	(117,976)
Ending balance	541,610	$ 83,694	676,728
Current (Note 22)	23,468		19,952	$ 3,626
Non-current	¥ 518,142		¥ 656,776	$ 80,068

Deferred Grants - Additional Information (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)	Dec. 31, 2020 USD ($)
Statement 1 [Line Items]
Revenue From Government Grants	¥ 209,793	$ 32,419	¥ 122,371	¥ 32,237
Deferred grant outstanding	518,142		656,776		$ 80,068
Grant Related to Assets [Member]
Statement 1 [Line Items]
Deferred grant outstanding	271,600		¥ 434,800		$ 42,000
JSS Grant [Member]
Statement 1 [Line Items]
Revenue From Government Grants	¥ 1,100	$ 200

Related Party Disclosures - Additional Information (Detail) ¥ in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 CNY (¥) shares	Dec. 31, 2018 CNY (¥)
Hong Leong Asia Limited [member] \| Subsidiaries [member]
Disclosure of transactions between related parties [line items]
Ownership interest in the entity, shares	18,270,965	18,270,965	17,059,154
Ownership interest in the entity, percentage	44.70%	44.70%	41.80%
Consultancy fees charged	¥ 300	$ 0.1	¥ 30	¥ 30
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%
Well Summit Investments Limited [member] \| Subsidiaries [member]
Disclosure of transactions between related parties [line items]
Ownership interest held by controlling shareholder, percent	21.40%	21.40%	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%

Related Party Disclosures - Significant Transactions with Related Parties (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Disclosure of transactions between related parties [line items]
Payment for Trademark Usage Fee			¥ 169,811
Associates and joint ventures [member]
Disclosure of transactions between related parties [line items]
Sales of engines and materials	¥ 1,256,268	$ 194,129	912,877	¥ 439,106
Purchase of material, supplies and engines	2,792,707	431,553	1,999,831	1,192,322
Joint ventures [member]
Disclosure of transactions between related parties [line items]
Hospitality, restaurant, consultancy and other service income	3,918	605	3,984	3,456
Rental income	4,565	705	3,206	1,937
Selling, general and administrative expenses	7,287	1,126
Hong Leong Asia Limited [member]
Disclosure of transactions between related parties [line items]
Selling, general and administrative expenses	6,687	1,033	6,788	6,639
GY Group (including its subsidiaries and affiliates) [member]
Disclosure of transactions between related parties [line items]
Sales of engines and materials	2,637,845	407,622	1,792,280	406,422
Purchase of material, supplies and engines	1,245,030	192,393	1,895,239	1,589,638
Hospitality, restaurant, consultancy and other service income	6,765	1,045	15,350	24,015
Rental income	3,970	613	2,133	3,886
Property management service expenses	24,968	3,858	22,595	26,547
Leasing expenses				25,705
Selling, general and administrative expenses	4,728	731	19,953	21,607
Delivery, storage, distribution and handling expenses	312,891	48,351	304,532	228,195
Payment for Trademark Usage Fee			169,811
Payments For Lease Liabilities	18,086	2,795	33,594
Purchases of vehicles and machineries	¥ 2,838	$ 439	¥ 2,817	¥ 6,144

Related Party Disclosures - Compensation of Key Management Personnel (Detail) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Disclosure of transactions between related parties [abstract]
Short-term employee benefits	¥ 43,178	$ 6,672	¥ 41,606	¥ 39,703
Contribution to defined contribution plans	292	45	362	335
Total	¥ 43,470	$ 6,717	¥ 41,968	¥ 40,038

Commitments and Contingencies - Additional Information (Detail) ¥ in Millions, $ in Millions	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Disclosure of commitments and contingencies [line items]
Capital commitments related to property, plant and equipment	¥ 450.0	$ 69.5	¥ 594.0
Investments commitments related to interest in joint venture	17.6	2.7	17.6
Irrevocable letter of credits issued	¥ 54.4	$ 8.4	¥ 30.8

Commitments and Contingencies - Future Minimum Rentals Payable Under Non-cancellable Operating Leases (Detail) ¥ in Thousands, $ in Thousands	Dec. 31, 2020 CNY (¥)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 CNY (¥)
Disclosure of finance lease and operating lease by lessee [line items]
Future minimum rentals payable under non-cancellable operating leases	¥ 2,020	$ 313	¥ 190
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	321	50	105
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	1,628	252	85
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, 2020 CNY (¥) Segments	Dec. 31, 2020 USD ($) Segments	Dec. 31, 2019 CNY (¥)	Dec. 31, 2018 CNY (¥)
Disclosure of operating segments [line items]
Number of reportable segments	2	2
Revenue	¥ 20,581,170	$ 3,180,376	¥ 18,016,085	¥ 16,263,248
One customer group [member]
Disclosure of operating segments [line items]
Revenue	¥ 6,018,200	$ 930,000	¥ 5,205,500	¥ 4,463,900

- Definition

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 2020-01-01
-Paragraph 28
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_28_a&doctype=Standard
-URIDate 2020-01-01

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2020-01-01
-Paragraph 23
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_23_a&doctype=Standard
-URIDate 2020-01-01

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2020-01-01
-Paragraph 32
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_32&doctype=Standard
-URIDate 2020-01-01

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2020-01-01
-Paragraph 33
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_33_a&doctype=Standard
-URIDate 2020-01-01

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 8
-IssueDate 2020-01-01
-Paragraph 34
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2020-en-r&anchor=para_34&doctype=Standard
-URIDate 2020-01-01

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name IAS
-Number 1
-IssueDate 2020-01-01
-Paragraph 82
-Subparagraph a
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_82_a&doctype=Standard
-URIDate 2020-01-01

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2020-01-01
-Paragraph 103
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_103&doctype=Standard
-URIDate 2020-01-01

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Name IAS
-Number 1
-IssueDate 2020-01-01
-Paragraph 102
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2020-en-r&anchor=para_102&doctype=Standard
-URIDate 2020-01-01

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 5
-IssueDate 2020-01-01
-Paragraph 33
-Subparagraph b
-Clause i
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=5&code=ifrs-tx-2020-en-r&anchor=para_33_b_i&doctype=Standard
-URIDate 2020-01-01

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name IFRS
-Number 12
-IssueDate 2020-01-01
-Paragraph B12
-Subparagraph b
-Clause v
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2020-en-r&anchor=para_B12_b_v&doctype=Appendix&subtype=B
-URIDate 2020-01-01

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Name IFRS
-Number 12
-IssueDate 2020-01-01
-Paragraph B10
-Subparagraph b
-URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=12&code=ifrs-tx-2020-en-r&anchor=para_B10_b&doctype=Appendix&subtype=B
-URIDate 2020-01-01

+ Details

Segment Information - Summary of Segment Information (Detail)
¥ in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2020

CNY (¥)

Dec. 31, 2020

USD ($)

Dec. 31, 2019

CNY (¥)

Dec. 31, 2018

CNY (¥)

Dec. 31, 2020

USD ($)

Revenue

Total external revenue (Note 6.1)

¥ 20,581,170

$ 3,180,376

¥ 18,016,085

¥ 16,263,248

Results

166,970

25,801

177,261

147,244

Impairment of property, plant and equipment

(147,293)

(22,761)

(126,851)

(108,339)

(3,920)

(606)

(3,950)

(30,173)

Staff severance cost

(19,712)

(3,046)

(15,454)

(28,018)

Share of profit of associates and joint venture

(494,607)

(76,430)

(465,209)

(433,885)

(58,970)

(9,113)

19,034

11,634

(192,538)

(29,753)

(172,619)

(206,667)

779,326

120,427

860,700

974,400

26,290,958

23,854,191

21,657,964

$ 4,062,701

(14,458,248)

(12,280,806)

(10,510,410)

(2,234,211)

227,120

273,991

222,812

$ 35,096

Operating segments [member] | Yuchai segment [member]

554,847

$ 85,740

918,280

405,895

Revenue

Total external revenue (Note 6.1)

20,557,660

17,980,304

16,210,467

Results

158,569

158,855

124,653

Impairment of property, plant and equipment

(147,161)

(126,379)

(107,609)

(3,920)

(3,950)

(30,173)

Staff severance cost

(19,712)

(15,454)

(28,018)

Share of profit of associates and joint venture

(488,536)

(458,665)

(428,199)

(59,476)

18,137

10,809

(156,007)

(141,330)

(175,956)

829,042

884,562

1,019,776

25,330,625

22,817,479

20,636,155

(14,328,688)

(12,127,021)

(10,318,492)

223,918

271,274

220,176

Operating segments [member] | HL Global Enterprises Limited segment [member]

550,424

917,192

403,179

Revenue

Total external revenue (Note 6.1)

23,510

35,781

52,781

Results

3,538

5,167

4,244

(35)

(51)

(403)

Share of profit of associates and joint venture

(5,181)

(5,551)

(5,355)

506

897

825

(200)

(527)

(820)

1,052

4,457

4,156

392,096

416,397

441,040

(10,346)

(15,575)

(55,404)

3,202

2,717

2,636

Operating segments [member] | Corporate segment [member]

4,409

1,033

2,643

Results

4,863

13,239

18,347

(97)

(421)

(327)

(890)

(993)

(331)

(69)

(41)

(49)

(17,127)

1,939

(19,690)

2,075,262

2,120,767

2,081,220

(15,797)

(31,278)

(29,592)

Elimination of intersegment amounts [member]

Results

^[1]

(36,262)

(30,721)

(29,842)

^[1]

(33,641)

(30,258)

(29,842)

(1,507,025)

(1,500,452)

(1,500,451)