v3.25.1
Contract assets and liabilities (Tables)
12 Months Ended
Dec. 31, 2024
Contract assets and liabilities

 

 

2024

 

 

2023

 

 

 

US$’000

 

 

US$’000

 

 

 

 

 

 

 

 

Unbilled revenue

 

 

135

 

 

 

66

 

 

 

2024

 

 

2023

 

 

 

US$’000

 

 

US$’000

 

 

 

 

 

 

 

 

Deferred revenue

 

 

593

 

 

 

650

 

 

 

December 31,

 

 

 

2024

 

 

2023

 

 

 

US$’000

 

 

US$’000

 

 

 

 

 

 

 

 

Contract assets

 

 

135

 

 

 

66

 

Contract liabilities

 

 

(593 )

 

 

(650 )

Net contract liabilities

 

 

(458 )

 

 

(584 )
Net (liability) / asset position for contracts in process

 

 

2024

 

 

2023

 

 

 

US$’000

 

 

US$’000

 

 

 

 

 

 

 

 

Costs incurred in contracts in process

 

 

325

 

 

 

229

 

Revenue earned but not yet billed

 

 

102

 

 

 

26

 

Less: billings to date

 

 

(885 )

 

 

(839 )

 

 

 

(458 )

 

 

(584 )

 

 

2024

 

 

2023

 

 

 

US$’000

 

 

US$’000

 

 

 

 

 

 

 

 

Unbilled revenue

 

 

135

 

 

 

66

 

Deferred revenue

 

 

(593 )

 

 

(650 )

 

 

 

(458 )

 

 

(584 )
Disaggregated revenue from contracts

 

 

Year ended December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

US$’000

 

 

US$’000

 

 

US$’000

 

Revenue

 

 

 

 

 

 

 

 

 

Trading and manufacturing (revenue recognized at point in time)

 

 

9,549

 

 

 

12,143

 

 

 

9,332

 

Engineering (revenue recognized over time)

 

 

5,834

 

 

 

5,797

 

 

 

5,617

 

 

 

 

15,383

 

 

 

17,940

 

 

 

14,949

 

ZHEJIANG TIANLAN  
Contract assets and liabilities

 

 

2024

 

 

2023

 

 

 

RMB’000

 

 

RMB’000

 

 

 

 

 

 

 

 

Unbilled revenue

 

 

66,644

 

 

 

72,880

 

 

 

2024

 

 

2023

 

 

 

RMB’000

 

 

RMB’000

 

 

 

 

 

 

 

 

Deferred revenue

 

 

35,367

 

 

 

43,452

 

 

 

2024

 

 

2023

 

 

 

RMB’000

 

 

RMB’000

 

 

 

 

 

 

 

 

Contract assets

 

 

66,644

 

 

 

72,880

 

Contract liabilities

 

 

(35,367 )

 

 

(43,452 )

 

 

 

 

 

 

 

 

 

Net contract assets

 

 

31,277

 

 

 

29,428

 

 

 

2024

 

 

2023

 

 

 

RMB’000

 

 

RMB’000

 

 

 

 

 

 

 

 

Gross contract assets

 

 

77,657

 

 

 

83,170

 

Less: allowance for doubtful accounts

 

 

(11,013 )

 

 

(10,290 )

 

 

 

 

 

 

 

 

 

 

 

 

66,644

 

 

 

72,880

 

Net (liability) / asset position for contracts in process

 

 

2024

 

 

2023

 

 

 

RMB’000

 

 

RMB’000

 

 

 

 

 

 

 

 

Costs and estimated earnings on uncompleted contracts

 

 

48,274

 

 

 

239,648

 

Less: billings to date

 

 

(16,997 )

 

 

(210,220 )

 

 

 

 

 

 

 

 

 

 

 

 

31,277

 

 

 

29,428