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Financial Assets At Amortized Cost | 12 Months Ended
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Dec. 31, 2022
Text block [abstract] |
Financial assets at amortized cost |
18 | Financial assets at amortized cost
The Group
|  | As of December 31, |
|  | 2021 |  |  | 2022 |
|  | RMB’000 |  |  | RMB’000 |
Unlisted securities |  |  |  |  |  |  |  |
Debt Investments |  |  | 5,002,174 |  |  |  | 6,471,987 |
Interest receivable |  |  | 121,415 |  |  |  | 122,799 |
|  |  | 5,123,589 |  |  |  | 6,594,786 |
Less: Provision for impairment losses |  |  | (1,338,976 | ) |  |  | (1,878,338 | )
|  |  | 3,784,613 |  |  |  | 4,716,448 |
Expected credit loss rate |  |  | 26.13 | % |  |  | 28.48 | %
(a) | As of December 31, 2021 and 2022, the principal amount of financial assets at amortized cost amounting to RMB1,795 million and RMB2,000 million were past due. An impairment loss of RMB300 million and RMB565 million was recognized for the years ended December 31, 2021 and 2022 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, 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 purchase d |  |  | 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 |
(c) | 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 purchase d |  |  | 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 |
(d) | 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 purchase d |  |  | 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 |
(e) | 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 purchase d |  |  | 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 |
(f) | The following table sets forth the movement of gross carrying amount of financial assets at amortized cost for the year ended December 31, 2022:
|  | Year ended December 31, 2022 |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
|  | Stage 1 |  |  | Stage 2 |  |  | Stage 3 |  |  | POCI |  |  | Total |
As of January 1, 2022 |  |  | 2,709,756 |  |  |  | — |  |  |  | 1,865,241 |  |  |  | 548,592 |  |  |  | 5,123,589 |
New financial assets originated or purchase d |  |  | 5,635,886 |  |  |  | — |  |  |  | — |  |  |  | 79,456 |  |  |  | 5,715,342 |
Transfer |  |  | (363,927 | ) |  |  | — |  |  |  | 363,927 |  |  |  | — |  |  |  | — |
— From stage 1 to stage 2 |  |  | (363,927 | ) |  |  | 363,927 |  |  |  | — |  |  |  | — |  |  |  | — |
— From stage 2 to stage 3 |  |  | — |  |  |  | (363,927 | ) |  |  | 363,927 |  |  |  | — |  |  |  | — |
Write-offs |  |  | — |  |  |  | — |  |  |  | (38,858 | ) |  |  | (11,854 | ) |  |  | (50,712 | )
Financial assets de-recognized and other adjustments in the current period (including repayments of financial assets) |  |  | (3,822,562 | ) |  |  | — |  |  |  | (102,087 | ) |  |  | (268,784 | ) |  |  | (4,193,433 | )
As of December 31, 2022 |  |  | 4,159,153 |  |  |  | — |  |  |  | 2,088,223 |  |  |  | 347,410 |  |  |  | 6,594,786 |
(g) | The following table sets forth the movement of ECL allowance for the year ended December 31, 2022:
|  | Year ended December 31, 2022 |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
|  | Stage 1 |  |  | Stage 2 |  |  | Stage 3 |  |  | POCI |  |  | Total |
As of January 1, 2022 |  |  | 11,904 |  |  |  | — |  |  |  | 1,280,502 |  |  |  | 46,570 |  |  |  | 1,338,976 |
New financial assets originated or purchase d |  |  | 19,733 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 19,733 |
Transfer |  |  | (3,622 | ) |  |  | — |  |  |  | 236,007 |  |  |  | — |  |  |  | 232,385 |
— From stage 1 to stage 2 |  |  | (3,622 | ) |  |  | 3,622 |  |  |  | — |  |  |  | — |  |  |  | — |
— From stage 2 to stage 3 |  |  | — |  |  |  | (63,386 | ) |  |  | 63,386 |  |  |  | — |  |  |  | — |
Net impact on expected credit loss by stage transfer |  |  | — |  |  |  | 59,764 |  |  |  | 172,621 |  |  |  | — |  |  |  | 232,385 |
Write-offs |  |  | — |  |  |  | — |  |  |  | (38,858 | ) |  |  | (11,854 | ) |  |  | (50,712 | )
Financial assets de-recognized and other adjustments in the current period (including repayments of financial assets) |  |  | (5,395 | ) |  |  | — |  |  |  | (74,124 | ) |  |  | 3,238 |  |  |  | (76,281 | )
Change in parameters of expected credit loss model |  |  | 17,898 |  |  |  | — |  |  |  | 403,165 |  |  |  | (6,826 | ) |  |  | 414,237 |
As of December 31, 2022 |  |  | 40,518 |  |  |  | — |  |  |  | 1,806,692 |  |  |  | 31,128 |  |  |  | 1,878,338 |
The Company
|  | As of December 31, |
|  | 2021 |  |  | 2022 |
|  | RMB’000 |  |  | RMB’000 |
Unlisted securities |  |  |  |  |  |  |  |
Loans to subsidiaries |  |  | 8,781,896 |  |  |  | 137,662 |
Interest receivable |  |  | 72,434 |  |  |  | 18,387 |
|  |  | 8,854,330 |  |  |  | 156,049 |
Less: Provision for impairment losses |  |  | (7,707 | ) |  |  | (447 | )
|  |  | 8,846,623 |  |  |  | 155,602 |

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