Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2025

Trade and other receivables [abstract]

Summary of Accounts Receivable and Ageing Analysis


		As at December 31,
		2024				2025
		RMB’million				RMB’million
Accounts receivable			3,530				3,931
Less: loss allowance for expected credit losses			(22	)			(28	)
Accounts receivable, net			3,508				3,903
Ageing analysis of the accounts receivable based on invoice date:
Up to 3 months			3,102				3,495
3 to 6 months			217				318
Over 6 months			211				118
			3,530				3,931

Summary of Loss Allowances for Accounts Receivable

The loss allowances for accounts receivable as at December 31, 2024 and 2025 reconciled to the opening loss allowances as follows:


		Year ended December 31,
		2024				2025
		RMB’million				RMB’million
At January 1			77				22
Provision for loss allowance recognized in income statement			17				6
Receivables written off during the year as uncollectible			(72	)			-
At December 31			22				28