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BORROWINGS (Tables) | 12 Months Ended
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Dec. 31, 2025
BORROWINGS |
Schedule of borrowings | ​
​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31,
​ | ​ ​ ​ | 2024 | ​ ​ ​ | 2025
​ | ​ | (HK$ in thousands)
​ | ​ | ​ | ​ | ​
Borrowings from banks (1) |  | 5,702,259 |  | 12,143,237
The Group obtained borrowings mainly to support its margin financing business. Those borrowings bear weighted average interest rates of 4.18% and 3.96% as of December 31, 2024 and 2025, respectively.
(1) | The Group has unused borrowing facilities of HK$18.2 billion and HK$13.9 billion from banks as of December 31, 2024 and 2025, of which HK$582.2 million and HK$583.64 million are committed, and the remaining are uncommitted, respectively. These bank borrowings were mainly pledged by margin clients’ stocks as the primary source of credit risk mitigation of the lenders, and bore floating interest rates based on various benchmarks including Hong Kong Prime Rate, Hong Kong Interbank Offered Rate (“HIBOR”), CNH HIBOR, etc.

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- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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