
	As of December 31,
	2020			2021
	RMB’000			RMB’000
Unlisted securities
Debt Investments		7,641,846			5,002,174

Interest receivable		93,988			121,415

		7,735,834			5,123,589
Less: Provision for impairment losses		(1,171,865	)		(1,338,976	)

		6,563,969			3,784,613

(a)

As of December 31, 2021, the principal amount of financial assets at amortized cost amounting to RMB1,795 million were past due (2020: RMB2,077 million). An impairment loss of RMB300 million (2020: an impairment loss of RMB29 million) was recognized in 2021 based on the discounted future recoverable

amount

estimated at the balance sheet date.

(b)	The following table sets forth the movement of gross carrying amount of financial assets at amortized cost for the year ended December 31, 2019:


	Year ended December 31, 2019
	RMB’000			RMB’000			RMB’000			RMB’000			RMB’000
	Stage 1			Stage 2			Stage 3			POCI			Total
As of January 1, 2019		2,578,915			535,000			278,022			92,990			3,484,927
New financial assets originated or purchased		15,379,522			—			—			99,493			15,479,015
Transfers		(2,403,628	)		—			2,403,628			—			—
— From stage 1 to stage 3		(2,403,628	)		—			2,403,628			—			—
Financial assets de-recognized and other adjustments in the current period (including repayments of financial assets)		(8,331,614	)		(535,000	)		(26,518	)		(59,851	)		(8,952,983	)

As of December 31, 2019		7,223,195			—			2,655,132			132,632			10,010,959

(c)	The following table sets forth the movement of ECL allowance for the year ended December 31, 2019:


	Year ended December 31, 2019
	RMB’000			RMB’000			RMB’000			RMB’000			RMB’000
	Stage 1			Stage 2			Stage 3			POCI			Total
As of January 1, 2019		16,492			111,437			249,080			71			377,080
New financial assets originated or purchased		64,072			—			—			(661	)		63,411
Transfers		(10,014	)		—			1,072,170			—			1,062,156
— From stage 1 to stage 3		(10,014	)		—			10 ,014			—			—
Net impact on expected credit loss by stage transfer		—			—			1,062,156			—			1,062,156
Financial assets de-recognized and other adjustments in the current period (including repayments of financial assets)		(50,718	)		(111,437	)		(2,758	)		(1,932	)		(166,845	)
Change in parameters of expected credit loss model		(5,835	)		—			2,641			55,339			52,145

As of December 31, 2019		13,997			—			1,321,133			52,817			1,387,947

(d)	The following table sets forth the movement of gross carrying amount of financial assets at amortized cost for the year ended December 31, 2020:


	Year ended December 31, 2020
	RMB’000			RMB’000		RMB’000			RMB’000			RMB’000
	Stage 1			Stage 2		Stage 3			POCI			Total
As of January 1, 2020		7,223,195			—		2,655,132			132,632			10,010,959
New financial assets originated or purchased		8,590,588			—		—			59,084			8,649,672
Write-offs		—			—		(221,754	)		(12,521	)		(234,275	)
Financial assets de-recognized and other adjustments in the current period (including repayments of financial assets)		(10,300,916	)		—		(318,143	)		(71,463	)		(10,690,522	)

As of December 31, 2020		5,512,867			—		2,115,235			107,732			7,735,834

(e)	The following table sets forth the movement of ECL allowance for the year ended December 31, 2020:


	Year ended December 31, 2020
	RMB’000			RMB’000		RMB’000			RMB’000			RMB’000
	Stage 1			Stage 2		Stage 3			POCI			Total
As of January 1, 2020		13,997			—		1,321,133			52,817			1,387,947
New financial assets originated or purchased		8,593			—		—			—			8,593
Write-offs		—			—		(221,754	)		(12,521	)		(234,275	)
Financial assets de-recognized and other adjustments in the current period (including repayments of financial assets)		(4,160	)		—		(15,444	)		(117	)		(19,721	)
Change in parameters of expected credit loss model		(13,270	)		—		56,413			(13,822	)		29,321

As of December 31, 2020		5,160			—		1,140,348			26,357			1,171,865

(f)	The following table sets forth the movement of gross carrying amount of financial assets at amortized cost for the year ended December 31, 2021:


	Year ended December 31, 2021
	RMB’000			RMB’000		RMB’000			RMB’000			RMB’000
	Stage 1			Stage 2		Stage 3			POCI			Total

As of January 1, 2021		5,512,867			—		2,115,235			107,732			7,735,834
New financial assets originated or purchased		7,437,143			—		—			604,418			8,041,561
Write-offs		—			—		(17,651	)		(8,694	)		(26,345	)
Disposal in the current period		—			—		(226,843	)		—			(226,843	)
Financial assets de-recognized and other adjustments in the current period (including repayments of financial assets)		(10,240,254	)		—		(5,500	)		(154,864	)		(10,400,618	)

As of December 31, 2021		2,709,756			—		1,865,241			548,592			5,123,589

(g)	The following table sets forth the movement of ECL allowance for the year ended December 31, 2021:


	Year ended December 31, 2021
	RMB’000			RMB’000		RMB’000			RMB’000			RMB’000
	Stage 1			Stage 2		Stage 3			POCI			Total

As of January 1, 2021		5,160			—		1,140,348			26,357			1,171,865
New financial assets originated or purchased		10,808			—		—			—			10,808
Write-offs		—			—		(17,651	)		(8,694	)		(26,345	)
Disposal in the current period		—			—		(144,320	)		—			(144,320	)
Financial assets de-recognized and other adjustments in the current period (including repayments of financial assets)		(4,531	)		—		(10,366	)		48,184			33,287
Change in parameters of expected credit loss model		467			—		312,491			(19,277	)		293,681

As of December 31, 2021		11,904			—		1,280,502			46,570			1,338,976