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FINANCIAL ASSETS AND FINANCIAL LIABILITIES (Tables)

6 Months Ended

9 Months Ended

Jun. 30, 2022

Sep. 30, 2022

FINANCIAL ASSETS AND FINANCIAL LIABILITIES

Schedule of financial assets and liabilities measured at fair value


		Financial Assets At Fair Value as of
		December 31, 2021
		Level 1		Level 2		Level 3		Total

		(HK$ in thousands)
Short-term investments		1,169,741		—		—		1,169,741
Other financial assets (1)		—		598		—		598
Total financial assets, measured at fair value		1,169,741		598		—		1,170,339


		Financial Assets and Liabilities At Fair Value as of
		June 30, 2022
		Level 1		Level 2		Level 3		Total

		(HK$in thousands)

Short-term investments		17,501		—		—		17,501
Total financial assets, measured at fair value		17,501		—		—		17,501

Other financial liabilities (1)		6,134		7,460		—		13,594
Total financial liabilities, measured at fair value		6,134		7,460		—		13,594

(1)

The Group enters into currency futures contracts to manage currency exposure associated with anticipated receipts and disbursements occurring in a currency other than the functional currency of the entity. The currency futures contracts are valued using broadly distributed bank and broker prices, and are classified as Level 2 of the fair value hierarchy since inputs to their valuation can be generally corroborated by market data. As of December 31, 2021 and June 30, 2022, the currency futures are included in other current assets or other current liabilities.


		Financial Assets At Fair Value as of
		December 31, 2021
		Level 1		Level 2		Level 3		Total

		(HK$ in thousands)
Short-term investments		1,169,741		—		—		1,169,741
Other financial assets (1)		—		598		—		598
Total financial assets, measured at fair value		1,169,741		598		—		1,170,339


		Financial Assets and Liabilities At Fair Value as of
		September 30, 2022
		Level 1		Level 2		Level 3		Total

		(HK$ in thousands)
Short-term investments		13,373		—		—		13,373
Total financial assets, measured at fair value		13,373		—		—		13,373

Other financial liabilities (1)		2,125		8,989		—		11,114
Total financial liabilities, measured at fair value		2,125		8,989		—		11,114

(1)

The Group enters into currency futures contracts to manage currency exposure associated with anticipated receipts and disbursements occurring in a currency other than the functional currency of the entity. The currency futures contracts are valued using broadly distributed bank and broker prices, and are classified as Level 2 of the fair value hierarchy since inputs to their valuation can be generally corroborated by market data. As of December 31, 2021 and September 30, 2022, the currency futures are included in other current assets or other current liabilities.

Schedule of amounts of financial instruments that are not offset in the consolidated balance sheets, but could be netted against cash or financial instruments with specific counterparties under master netting agreements

Effects of offsetting on the balance sheet

Related amounts not offset

Gross

Amounts

amounts

Net amounts

subject to

set off in the

presented in

master

Financial

Gross

balance

the balance

netting

instrument

Net

As of December 31, 2021

amount

sheet

sheet

arrangements

collateral

amount

HK$in thousands

Financial Assets

Amounts due from clearing organizations

7,596,090

(5,634,969)

1,961,121

—

—

1,961,121

Financial liabilities

Amounts due to clearing organizations

6,028,751

(5,634,969)

393,782

—

—

393,782

Effects of offsetting on the balance sheet

Related amounts not offset

Gross

Net

amounts

amounts

Amounts

set off in

presented

subject to

the

in

master

Financial

Gross

balance

the balance

netting

instrument

Net

As of June 30, 2022

amount

sheet

sheet

arrangements

collateral

amount

HK$ in thousands

Financial Assets

Amounts due from clearing organizations

10,857,308

(8,941,436)

1,915,872

—

—

1,915,872

Financial liabilities

Amounts due to clearing organizations

10,301,182

(8,941,436)

1,359,746

—

—

1,359,746

Effects of offsetting on the balance sheet

Related amounts not offset

Gross

Amounts

amounts

Net amounts

subject to

set off in the

presented in

master

Financial

Gross

balance

the balance

netting

instrument

Net

As of December 31, 2021

amount

sheet

sheet

arrangements

collateral

amount

HK$in thousands

Financial Assets

Amounts due from clearing organizations

7,596,090

(5,634,969)

1,961,121

—

—

1,961,121

Financial liabilities

Amounts due to clearing organizations

6,028,751

(5,634,969)

393,782

—

—

393,782

Financial Assets and Liabilities Measured at Fair Value

Effects of offsetting on the balance sheet

Related amounts not offset

Gross

Amounts

amounts

Net amounts

subject to

set off in the

presented in

master

Financial

Gross

balance

the balance

netting

instrument

Net

As of September 30, 2022

amount

sheet

sheet

arrangements

collateral

amount

HK$ in thousands

Financial Assets

Amounts due from clearing organizations

5,741,976

(4,140,950)

1,601,026

—

—

1,601,026

Financial liabilities

Amounts due to clearing organizations

6,191,263

(4,140,950)

2,050,313

—

—

2,050,313