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

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

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

The ECL allowance as of December 31, 2024 and 2025 was determined based on aging as follows:

Besides from the above ECL allowance calculated using provision matrix, as of December 31, 2024 and 2025, loss allowance was fully made for specific trade receivables with gross amount of RMB52.3 million and RMB71.1 million, respectively, which were considered to be in default due to conditions indicating that the Group was unlikely to receive the outstanding contractual amounts.