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Accounts And Other Receivables And Contract Assets | 12 Months Ended
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Dec. 31, 2021
Text block [abstract] |
Accounts and other receivables and contract assets |
20 | Accounts and other receivables and contract assets
|  | As of December 31, |
|  | 2020 |  |  | 2021 |
| RMB’000 |  |  | RMB’000 |
Contract acquisition cost |  |  | 9,016,555 |  |  |  | 7,964,247 |
Loan facilitation and service fees |  |  | 10,344,007 |  |  |  | 7,380,284 |
Receivables from external payment services providers (a) |  |  | 1,750,254 |  |  |  | 2,665,300 |
Trust statutory deposits (b) |  |  | 968,490 |  |  |  | 1,359,642 |
Wealth management transaction and service fees receivables |  |  | 882,060 |  |  |  | 1,052,735 |
— Current Products |  |  | 634,934 |  |  |  | 894,323 |
— Legacy Products |  |  | 247,126 |  |  |  | 158,412 |
Receivables for shares repurchase program (Note 37(a)) |  |  | — |  |  |  | 870,006 |
Other deposit s |  |  | 490,815 |  |  |  | 542,817 |
Guarantee fee s |  |  | 88,900 |  |  |  | 410,577 |
Receivables f rom ADS income |  |  | 3,524 |  |  |  | 111,933 |
Receivables f rom exercise of share options |  |  | — |  |  |  | 36,036 |
Others |  |  | 469,751 |  |  |  | 582,044 |
Less: Provision for impairment losses (c) |  |  | (688,378 | ) |  |  | (630,848 | )
|  |  | 23,325,978 |  |  |  | 22,344,773 |
(a) | The Group maintains accounts with external online payment services providers to transfer deposits of platform investors, collect principal and interests from borrowers and make loans. The Group recorded the related amounts as receivables from external payment service providers.
(b) | The balances represent cash deposited in China Trust Protection Fund Co., Ltd. as required by trust regulations.
(c) | The following table sets forth the movements in the provision for impairment losses:
|  | Year ended December 31, |
|  | 2019 |  |  | 2020 |  |  | 2021 |
| RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
At the beginning of the year |  |  | 252,324 |  |  |  | 401,626 |  |  |  | 688,378 |
Impairment loss recognized in the consolidated statement of comprehensive income |  |  | 794,116 |  |  |  | 1,499,344 |  |  |  | 991,903 |
Written off during the year |  |  | (839,243 | ) |  |  | (1,283,858 | ) |  |  | (1,083,618 | )
Recovery of receivables written off previously |  |  | 194,429 |  |  |  | 71,266 |  |  |  | 34,185 |
At the end of the year |  |  | 401,626 |  |  |  | 688,378 |  |  |  | 630,848 |
(d) | The loss allowance as of December 31, 2020 was determined as follows for receivables from loan facilitation and service fees, wealth management transaction and service fees receivables and guarantee fee:
|  | As of December 31, 2020 |
|  | Current |  |  | 1-90 days past due |  |  | 91-180 days past due |  |  | Total |
Accounts and other receivables and contract assets |  |  | RMB’000 |  |  |  | RMB’000 |  |  |  | RMB’000 |  |  |  | RMB’000 |
Expected loss rate |  |  | 2.92 | % |  |  | 84.22 | % |  |  | 99.49 | % |  |  | 6.08 | %
Loan facilitation and service fee |  |  | 9,953,323 |  |  |  | 174,102 |  |  |  | 216,582 |  |  |  | 10,344,007 |
Wealth management transaction and service fee receivables |  |  | 882,060 |  |  |  | — |  |  |  | — |  |  |  | 882,060 |
Guarantee fee |  |  | 80,557 |  |  |  | 5,657 |  |  |  | 2,686 |  |  |  | 88,900 |
Loss allowance |  |  | (318,820 | ) |  |  | (151,398 | ) |  |  | (218,160 | ) |  |  | (688,378 | )
(e) | The loss allowance as of December 31, 2021 was determined as follows for receivables from loan facilitation and service fees, wealth management transaction and service fees receivables and guarantee fee:
|  | As of December 31, 2021 |
|  | Current |  |  | 1-90 days past due |  |  | 91-180 days past due |  |  | Total |
Accounts and other receivables and contract assets |  |  | RMB’000 |  |  |  | RMB’000 |  |  |  | RMB’000 |  |  |  | RMB’000 |
Expected loss rate |  |  | 2.36 | % |  |  | 89.87 | % |  |  | 94.83 | % |  |  | 7.12 | %
Loan facilitation and service fee |  |  | 6,943,369 |  |  |  | 201,188 |  |  |  | 235,727 |  |  |  | 7,380,284 |
Wealth management transaction and service fee receivables |  |  | 1,052,735 |  |  |  | — |  |  |  | — |  |  |  | 1,052,735 |
Guarantee fee |  |  | 379,493 |  |  |  | 18,069 |  |  |  | 13,015 |  |  |  | 410,577 |
Loss allowance |  |  | (197,933 | ) |  |  | (197,042 | ) |  |  | (235,873 | ) |  |  | (630,848 | )
As of December 31, 2021 and 2020, the remaining amount of consideration the Group expected to receive is higher than the carrying amount of contract acquisition cost. As such, no loss allowance was recorded against contract acquisition cost.

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