| 13. | TRADE AND OTHER RECEIVABLES AND PREPAYMENTS |
| As of December 31, | ||||||||||||
| 2016 | 2017 | 2017 | ||||||||||
| RMB’000 | RMB’000 | US$’000 | ||||||||||
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Trade receivables |
438,751 | 587,510 | 90,299 | |||||||||
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Prepayments to raw material suppliers |
123,765 | 206,179 | 31,689 | |||||||||
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Receivables from sales of scrap materials |
77,496 | 62,996 | 9,682 | |||||||||
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Value-added tax and other taxes receivable |
48,698 | 37,290 | 5,731 | |||||||||
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Income tax recoverable |
5,069 | 4,138 | 636 | |||||||||
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Other receivables |
2,077 | 2,049 | 315 | |||||||||
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| 695,856 | 900,162 | 138,352 | ||||||||||
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All of the trade and other receivables (net of nil provision for doubtful debts as of December 31, 2016 and 2017) are expected to be recovered or recognized as expenses within one year. The Group allows its trade customers an average credit period of 30 to 90 days (2016: 30 to 90 days). The following is an aged analysis of trade receivables presented based on the invoice date at the end of each reporting period, which approximated the respective revenue recognition dates.
| As of December 31, | ||||||||||||
| 2016 | 2017 | 2017 | ||||||||||
| RMB’000 | RMB’000 | US$’000 | ||||||||||
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0 - 30 days |
250,559 | 272,156 | 41,830 | |||||||||
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31 - 60 days |
143,347 | 205,571 | 31,596 | |||||||||
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61 - 90 days |
44,845 | 109,783 | 16,873 | |||||||||
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| 438,751 | 587,510 | 90,299 | ||||||||||
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Before accepting any new customers, the Group assesses the potential customer’s credit quality and defines its credit limits based on the customer’s scale of operations and reputation in the industry.
The aging analysis of trade receivables that are neither individually nor collectively considered to be impaired are as follows:
| As of December 31, | ||||||||||||
| 2016 | 2017 | 2017 | ||||||||||
| RMB’000 | RMB’000 | US$’000 | ||||||||||
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Neither past due nor impaired |
438,751 | 587,510 | 90,299 | |||||||||
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Past due but not impaired |
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Less than 1 month past due |
— | — | — | |||||||||
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1 to 3 months past due |
— | — | — | |||||||||
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| 438,751 | 587,510 | 90,299 | ||||||||||
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Trade receivables that were neither past due nor impaired relate to a wide range of customers for whom there was no recent history of default. The Group does not hold any collateral over these balances.
As of December 31, 2016 and 2017, there was no trade receivable past due that have not been impaired.
Trade receivables denominated in currency other than the functional currency of the relevant group entities are set out below:
| 2016 | 2017 | 2017 | ||||||||||
| RMB’000 | RMB’000 | US$’000 | ||||||||||
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US$ |
30,600 | 33,423 | 5,137 | |||||||||
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