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Income taxes (Tables)

6 Months Ended

Dec. 31, 2023

Income taxes

Summary of taxation recognized in consolidated profit or loss


								For the six
								months ended
		For the year ended June 30,						December 31,
		2021		2022		2023		2023
		RMB’000		RMB’000		RMB’000		RMB’000
Amounts recognized in consolidated profit or loss
Current tax
Provision for the year/period		200,170		252,989		557,630		339,409
Deferred tax
Origination and reversal of temporary differences (Note 10(c))		13,085		14,081		(5,845)		57,256
Tax expense		213,255		267,070		551,785		396,665

Summary of reconciliation between tax expense and accounting profit at applicable tax rates


								For the six
								months ended
		For the year ended June 30,						December 31,
		2021		2022		2023		2023
		RMB’000		RMB’000		RMB’000		RMB’000
(Loss)/profit before taxation		(1,216,192)		906,813		2,333,614		1,652,742
Notional tax on (loss)/profit before taxation, calculated at the rates applicable to profits in the jurisdictions concerned		118,766		214,704		566,955		394,856
Tax effect of share-based compensation expenses (Note 7(i))		70,330		20,254		15,435		11,401
Tax effect of other non-deductible expenses		10,433		10,935		13,666		7,310
Effect of preferential tax treatments on assessable profits of certain subsidiaries (Note 10(a)(3))		(34,218)		(18,001)		(42,739)		(10,756)
Tax effect of additional deduction on research and development costs		—		—		(4,217)		(3,476)
Tax effect of exempted and non-taxable income		(6,245)		(4,044)		(7,421)		(12,481)
Withholding tax on income of non-PRC resident entities derived from mainland China		—		—		—		4,095
Effect of unused tax losses not recognized/(being utilized)		72,969		44,888		22,956		(8,002)
Effect of deductible temporary differences (being utilized)/not recognized		(18,780)		(1,666)		(12,850)		13,718
Actual tax expenses		213,255		267,070		551,785		396,665

Summary of movement in deferred tax assets


								Loss from
								waiver of
								intercompany
								receivables
		Unused		Intra-group				of
		tax		unrealized		Credit loss and		discontinued		Right-of-use		Lease
		losses		profits		impairment		operations		assets		Liabilities		Others		Total
		RMB’000		RMB’000		RMB’000		RMB’000		RMB’000		RMB’000		RMB’000		RMB’000
Deferred tax assets arising from:
At July 1, 2021		34,253		14,696		50,347		61,548		(151,106)		155,949		2,865		168,552
Charged to profit or loss		(2,536)		(3,556)		(8,673)		—		33,926		(28,651)		(4,591)		(14,081)
Exchange rate difference		(21)		(43)		(101)		—		(138)		123		42		(138)
At June 30, 2022		31,696		11,097		41,573		61,548		(117,318)		127,421		(1,684)		154,333
Charged to profit or loss		(8,499)		11,944		(3,519)		(675)		9,543		(11,976)		9,027		5,845
Exchange rate difference		239		111		628		—		(162)		175		448		1,439
At June 30, 2023		23,436		23,152		38,682		60,873		(107,937)		115,620		7,791		161,617
Charged to profit or loss		(392)		4,781		(7,574)		(54,048)		8,770		(6,563)		(2,230)		(57,256)
Exchange rate difference		(31)		(113)		73		—		363		(370)		(153)		(231)
At December 31, 2023		23,013		27,820		31,181		6,825		(98,804)		108,687		5,408		104,130

Summary of unrecognized deferred tax assets


						As at
		As at June 30,				December 31,
		2022		2023		2023
		RMB’000		RMB’000		RMB’000
Deductible temporary differences		107,964		49,375		54,416
Cumulative tax losses		630,807		751,256		774,584
Total		738,771		800,631		829,000

Summary of tax losses carried forward

As at

As at

As at

June 30,

June 30,

December 31,

2022

Expiry date

2023

Expiry date

2023

Expiry date

RMB’000

RMB’000

RMB’000

Expire

278,215

2023-2043

361,627

2024-2044

432,759

2024-2044

Never expire

352,592

389,629

341,825