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Goodwill | 12 Months Ended
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Dec. 31, 2021
Text block [abstract] |
Goodwill |
26 | Goodwill
|  | As of January 1, 2019 |  |  | Increase |  |  | Decrease |  |  | As of December 31, 2019 |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
Puhui |  |  | 8,911,445 |  |  |  | — |  |  |  | — |  |  |  | 8,911,445 |
Tianjin Guarantee |  |  | 126,207 |  |  |  | — |  |  |  | — |  |  |  | 126,207 |
Pingan Jixin |  |  | 67,752 |  |  |  | — |  |  |  | — |  |  |  | 67,752 |
Lu International (Hong Kong) Limited |  |  | — |  |  |  | 6,663 |  |  |  | — |  |  |  | 6,663 |
Yunque Dongfang |  |  | 2,800 |  |  |  | — |  |  |  | — |  |  |  | 2,800 |
Jinniu Loan |  |  | 2,515 |  |  |  | — |  |  |  | — |  |  |  | 2,515 |
|  |  | 9,110,719 |  |  |  | 6,663 |  |  |  | — |  |  |  | 9,117,382 |
Less: Impairment losses |  |  | (2,800 | ) |  |  | (67,752 | ) |  |  | — |  |  |  | (70,552 | )
|  |  | 9,107,919 |  |  |  | (61,089 | ) |  |  | — |  |  |  | 9,046,830 |
|  | As of January 1, 2020 |  |  | Increase |  |  | Decrease |  |  | As of December 31, 2020 |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
Puhui |  |  | 8,911,445 |  |  |  | — |  |  |  | — |  |  |  | 8,911,445 |
Tianjin Guarantee |  |  | 126,207 |  |  |  | — |  |  |  | — |  |  |  | 126,207 |
Pingan Jixin |  |  | 67,752 |  |  |  | — |  |  |  | — |  |  |  | 67,752 |
Lu International (Hong Kong) Limited |  |  | 6,663 |  |  |  | — |  |  |  | — |  |  |  | 6,663 |
Yunque Dongfang |  |  | 2,800 |  |  |  | — |  |  |  | — |  |  |  | 2,800 |
Jinniu Loan |  |  | 2,515 |  |  |  | — |  |  |  | — |  |  |  | 2,515 |
|  |  | 9,117,382 |  |  |  | — |  |  |  | — |  |  |  | 9,117,382 |
Less: Impairment losses |  |  | (70,552 | ) |  |  | — |  |  |  | — |  |  |  | (70,552 | )
|  |  | 9,046,830 |  |  |  | — |  |  |  | — |  |  |  | 9,046,830 |
|  | As of January 1, 2021 |  |  | Increase |  |  | Decrease |  |  | As of December 31, 2021 |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
Puhui |  |  | 8,911,445 |  |  |  | — |  |  |  | — |  |  |  | 8,911,445 |
Tianjin Guarantee |  |  | 126,207 |  |  |  | — |  |  |  | — |  |  |  | 126,207 |
Pingan Jixin |  |  | 67,752 |  |  |  | — |  |  |  | — |  |  |  | 67,752 |
Lu International (Hong Kong) Limited |  |  | 6,663 |  |  |  | — |  |  |  | — |  |  |  | 6,663 |
Yunque Dongfang |  |  | 2,800 |  |  |  | — |  |  |  | — |  |  |  | 2,800 |
Jinniu Loan |  |  | 2,515 |  |  |  | — |  |  |  | — |  |  |  | 2,515 |
|  |  | 9,117,382 |  |  |  | — |  |  |  | — |  |  |  | 9,117,382 |
Less: Impairment losses |  |  | (70,552 | ) |  |  | (128,722 | ) |  |  | — |  |  |  | (199,274 | )
|  |  | 9,046,830 |  |  |  | (128,722 | ) |  |  | — |  |  |  | 8,918,108 |
The primary valuation technique used for recoverable amount of cash-generating unit or group of units is cash flow projection based on business plans approved by management covering a three to seven years’ period and a risk adjusted discount rate. Cash flows beyond that period have been extrapolated using a steady growth rate and terminal value. The following table sets forth the discount rate and growth rate used by the Group. The high growth rate as of December 31, 2020 was mainly due to the substantial increase in the business volume of Tianjin Guarantee during the early period after the acquisition. The subsequent growth rate gradually stabilized at the terminal growth rate of 3%.
|  | As of December 31, |
|  | 2019 |  |  | 2020 |  |  | 2021 |
Discount rates |  |  | 16%-21 | % |  |  | 18%-20 | % |  |  | 20 | %
Growth rates |  |  | 3%-123 | % |  |  | 3%-275 | % |  |  | 3%-8 | %
Impairment losses amounting to RMB68 million, nil and RMB129 million were recognized in the years ended December 31, 2019 , 2020 and 2021, respectively based on the results of impairment test. Other than the aforementioned impairment, the results of cash flow projections exceed the carrying amount of each related cash-generating unit or group of units. However, subsequent impairment tests may be based upon different assumptions and future cash flow projections, which may result in an impairment of these assets in the foreseeable future.

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- Definition The disclosure of goodwill. [Refer: Goodwill] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2021-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=1&code=ifrs-tx-2021-en-r&anchor=para_10_e&doctype=Standard -URIDate 2021-03-24 + Details
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- Definition Text block abstract. + References No definition available. + Details
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