| LEASES |
The
Group as a lessee
The
Group has lease contracts for land and buildings. Lump sum payments were made upfront to acquire the leased land from the owners with
lease periods of 30 years, and no ongoing payments will be made under the terms of these land leases. Leases of buildings generally have
lease terms between 2 and 7 years. Other leases generally have lease terms of 12 months or less and/or are individually of low value.
Generally, the Group is restricted from assigning and subleasing the leased assets outside the Group.
The
carrying amounts of the Group’s right-of-use assets and the movements during the year are as follows:
| | |
Buildings | | |
Leasehold
land | | |
Total | | |
Total | |
| | |
RMB | | |
RMB | | |
RMB | | |
US$ | |
| | |
| | |
| | |
| | |
| |
| As at January 1, 2024 | |
| 23,654 | | |
| 27,598 | | |
| 51,252 | | |
| 7,329 | |
| Additions | |
| 17,108 | | |
| - | | |
| 17,108 | | |
| 2,446 | |
| Depreciation charge (note
6) | |
| (10,004 | ) | |
| (1,130 | ) | |
| (11,134 | ) | |
| (1,592 | ) |
| Disposal | |
| (1,067 | ) | |
| - | | |
| (1,067 | ) | |
| (153 | ) |
| Exchange realignment | |
| (50 | ) | |
| - | | |
| (50 | ) | |
| (7 | ) |
| As at December 31, 2024 and January 1, 2025 | |
| 29,641 | | |
| 26,468 | | |
| 56,109 | | |
| 8,023 | |
| Additions | |
| 5,047 | | |
| - | | |
| 5,047 | | |
| 722 | |
| Depreciation charge (note
6) | |
| (9,527 | ) | |
| (1,130 | ) | |
| (10,657 | ) | |
| (1,524 | ) |
| Disposal | |
| (2,675 | ) | |
| - | | |
| (2,675 | ) | |
| (382 | ) |
| Exchange realignment | |
| 3 | | |
| - | | |
| 3 | | |
| - | |
| | |
| | | |
| | | |
| | | |
| | |
| As at December 31, 2025 | |
| 22,489 | | |
| 25,338 | | |
| 47,827 | | |
| 6,839 | |
The
carrying amount of lease liabilities (included under interest-bearing bank and other borrowings) and the movements during the year are
as follows:
| | |
As
at December 31, | |
| | |
2024 | | |
2025 | | |
2025 | |
| | |
RMB | | |
RMB | | |
US$ | |
| | |
| | |
| | |
| |
| Carrying amount
at January 1 | |
| 22,681 | | |
| 30,232 | | |
| 4,323 | |
| New leases | |
| 17,108 | | |
| 5,047 | | |
| 722 | |
| Accretion of interest recognized
during the year (note 8) | |
| 1,498 | | |
| 1,118 | | |
| 160 | |
| Payments | |
| (9,911 | ) | |
| (10,835 | ) | |
| (1,549 | ) |
| Exchange realignment | |
| 8 | | |
| (6 | ) | |
| (1 | ) |
| Disposal | |
| (1,152 | ) | |
| (3,360 | ) | |
| (481 | ) |
| | |
| | | |
| | | |
| | |
| Carrying
amount at December 31 | |
| 30,232 | | |
| 22,196 | | |
| 3,174 | |
| | |
| | | |
| | | |
| | |
| Analyzed into: | |
| | | |
| | | |
| | |
| Current portion | |
| 9,439 | | |
| 7,283 | | |
| 1,041 | |
| Non-current
portion | |
| 20,793 | | |
| 14,913 | | |
| 2,133 | |
The
maturity analysis of lease liabilities is disclosed in note 39 to the consolidated financial statements.
| (c) | The amounts recognized in profit or loss in relation to leases are as follows: |
| | |
As
at December 31, | |
| | |
2024 | | |
2025 | | |
2025 | |
| | |
RMB | | |
RMB | | |
US$ | |
| | |
| | |
| | |
| |
| Interest on lease
liabilities (note 8) | |
| 1,498 | | |
| 1,118 | | |
| 160 | |
| Depreciation charge of right-of-use
assets | |
| 11,134 | | |
| 10,657 | | |
| 1,524 | |
| Expense
relating to short-term leases (included in administrative expenses) (note 6) | |
| 238 | | |
| 329 | | |
| 47 | |
| | |
| | | |
| | | |
| | |
| Total amount recognized in
profit or loss | |
| 12,870 | | |
| 12,104 | | |
| 1,731 | |
| (d) | The
total cash outflow for leases and future cash outflows relating to leases that have not yet
commenced are disclosed in notes 32(c) and 33(b), respectively, to the consolidated financial
statements. |
|