# 21 TRADE RECEIVABLES

<table><tr><td rowspan="3"></td><td colspan="3">As at 31 December</td><td>As at
30 June</td></tr><tr><td>2017</td><td>2018</td><td>2019</td><td>2020</td></tr><tr><td>RMB’000</td><td> RMB’000</td><td> RMB’000</td><td> RMB’000</td></tr><tr><td>Trade receivables (Note (a))</td><td></td><td></td><td></td><td></td></tr><tr><td>– Related parties (Note 34(b)) </td><td>97,848</td><td>254,914</td><td>349,303</td><td>475,419</td></tr><tr><td>– Third parties</td><td>115,474</td><td>143,819</td><td>248,693</td><td>618,158</td></tr><tr><td></td><td>213,322</td><td>398,733</td><td>597,996</td><td>1,093,577</td></tr><tr><td>Less: allowance for impairment of
trade receivables </td><td>(5,220)</td><td>(6,130)</td><td>(11,740)</td><td>(17,440)</td></tr><tr><td></td><td>208,102</td><td>392,603</td><td>586,256</td><td>1,076,137</td></tr></table>

(a) Trade receivables mainly arise from property management services managed under lump sum basis and value-added services.

Property management services income under lump sum basis are received in accordance with the term of the relevant property service agreements. Service income from property management services is due for payment by the property owners upon rendering of services.

As at 31 December 2017, 2018 and 2019 and 30 June 2020, the ageing analysis of the trade receivables based on date of revenue recognition were as follows:

<table><tr><td rowspan="3"></td><td colspan="3">As at 31 December</td><td>As at
30 June</td></tr><tr><td>2017</td><td>2018</td><td>2019</td><td>2020</td></tr><tr><td>RMB’000</td><td> RMB’000</td><td> RMB’000</td><td> RMB’000</td></tr><tr><td>Within 1 year </td><td>178,549</td><td>352,931</td><td>502,635</td><td>958,654</td></tr><tr><td>1 to 2 years </td><td>22,646</td><td>27,823</td><td>43,024</td><td>91,581</td></tr><tr><td>2 to 3 years </td><td>6,763</td><td>13,079</td><td>31,418</td><td>25,738</td></tr><tr><td>3 to 4 years </td><td>2,970</td><td>2,409</td><td>16,841</td><td>12,506</td></tr><tr><td>4 to 5 years </td><td>1,051</td><td>1,379</td><td>3,040</td><td>3,863</td></tr><tr><td>Over 5 years </td><td>1,343</td><td>1,112</td><td>1,038</td><td>1,235</td></tr><tr><td></td><td>213,322</td><td>398,733</td><td>597,996</td><td>1,093,577</td></tr></table>

As at 31 December 2017, 2018 and 2019 and 30 June 2020, trade receivables were denominated in RMB, and the fair value of trade receivables approximated their carrying amounts due to short credit term.

The Group applies the simplified approach to provide for expected credit losses prescribed by HKFRS 9, which permits the use of the lifetime expected loss provision for all trade receivables. To measure the expected credit losses, trade receivables have been grouped based on shared credit risk characteristics and the days past due. Movements on the provision for impairment of trade receivables are shown in Note 3.1(b). For the years ended 31 December 2017, 2018 and 2019 and the six months ended 30 June 2020, a provision of RMB1,080,000, RMB910,000 and RMB2,199,000 and RMB5,248,000 was made against the gross amounts of trade receivables. For the year ended 31 December 2019, a provision of RMB3,411,000 was derived from the effect of combination of Chengdu Global Century. For the six months ended 30 June 2020, a provision of RMB452,000 was made against the originally impaired trade receivables from NCPM since the date of acquisition. The provision for impairment increased during the Track Record Period due to the increase of trade receivables.

# 22 PREPAYMENTS AND OTHER RECEIVABLES

<table><tr><td rowspan="4"></td><td colspan="6">As at 31 December</td><td colspan="2">As at 30 June</td></tr><tr><td colspan="2">2017</td><td colspan="2">2018</td><td colspan="2">2019</td><td colspan="2">2020</td></tr><tr><td colspan="2">RMB’000</td><td colspan="2">RMB’000</td><td colspan="2">RMB’000</td><td colspan="2">RMB’000</td></tr><tr><td>Current</td><td>Non-
current</td><td> Current</td><td>Non-
current</td><td> Current</td><td>Non-
current</td><td> Current</td><td>Non-
current</td></tr><tr><td>Prepayments</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>– Utilities </td><td>4,573</td><td> –</td><td>7,637</td><td> –</td><td>5,711</td><td> –</td><td>9,300</td><td> –</td></tr><tr><td>– Short-term rental
fees </td><td>758</td><td> –</td><td>2,692</td><td> –</td><td>5,323</td><td> –</td><td>11,466</td><td> –</td></tr><tr><td>– Raw materials for
enigneering and
maintenance
services</td><td>–</td><td> –</td><td>817</td><td> –</td><td>1,992</td><td> –</td><td>5,451</td><td> –</td></tr><tr><td>– Deferred listing
expenses </td><td>–</td><td>–</td><td>–</td><td>–</td><td>–</td><td>–</td><td>2,486</td><td> –</td></tr><tr><td>– Others</td><td>1,365</td><td> –</td><td>1,120</td><td>1,082</td><td>5,430</td><td>570</td><td>13,958</td><td>2,380</td></tr><tr><td></td><td>6,696</td><td> –</td><td>12,266</td><td>1,082</td><td>18,456</td><td>570</td><td>42,661</td><td>2,380</td></tr><tr><td>Other receivables</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>– Related parties
(Note 34 (b)) (c)  </td><td>3,222</td><td> –</td><td>69,612</td><td> –</td><td>282,262</td><td> –</td><td>81,188</td><td>56,667</td></tr><tr><td>– Loan to a related
party (b)
(Note 34 (b)) </td><td>713,200</td><td>614,600</td><td>614,600</td><td>–</td><td>–</td><td>–</td><td>–</td><td>–</td></tr><tr><td>– Payments on
behalf of property
owners (a) </td><td>12,547</td><td> –</td><td>18,113</td><td> –</td><td>36,995</td><td> –</td><td>49,606</td><td> –</td></tr><tr><td>– Emlpoyees in
advance</td><td>7,311</td><td> –</td><td>8,982</td><td> –</td><td>11,492</td><td> –</td><td>11,037</td><td> –</td></tr><tr><td>– Deposits </td><td>5,488</td><td> –</td><td>6,781</td><td> –</td><td>10,148</td><td> –</td><td>35,069</td><td>5,863</td></tr><tr><td>– Others</td><td>5,263</td><td> –</td><td>3,766</td><td> –</td><td>2,185</td><td> –</td><td>2,935</td><td> –</td></tr><tr><td></td><td>747,031</td><td>614,600</td><td>721,854</td><td> –</td><td>343,082</td><td> –</td><td>179,835</td><td>62,530</td></tr><tr><td>Less: allowance for
impairment of other
receivables </td><td>(803)</td><td> –</td><td>(1,428)</td><td> –</td><td>(2,095)</td><td> –</td><td>(5,756)</td><td> –</td></tr><tr><td></td><td>746,228</td><td>614,600</td><td>720,426</td><td> –</td><td>340,987</td><td> –</td><td>174,079</td><td>62,530</td></tr><tr><td>Total prepayments and
other receivables  </td><td>752,924</td><td>614,600</td><td>732,692</td><td>1,082</td><td>359,443</td><td>570</td><td>216,740</td><td>64,910</td></tr></table>