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Expense by Nature | 12 Months Ended
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Dec. 31, 2022
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Expense by Nature |
10 | Expense by nature
|  | Year ended December 31, |
|  | 2020 |  |  | 2021 |  |  | 2022 |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
Employee benefit expenses (Note 10.1) |  |  | 14,145,207 |  |  |  | 16,402,993 |  |  |  | 15,080,319 |
Loan origination and servicing expenses |  |  | 7,091,078 |  |  |  | 5,712,598 |  |  |  | 3,667,962 |
Promotion and advertising expenses |  |  | 1,221,762 |  |  |  | 1,685,847 |  |  |  | 1,525,797 |
Outsourcing service expenses |  |  | 1,333,342 |  |  |  | 1,355,273 |  |  |  | 1,391,292 |
Payment processing expenses |  |  | 1,204,712 |  |  |  | 1,197,869 |  |  |  | 1,134,905 |
Trust management fee |  |  | 504,428 |  |  |  | 1,078,380 |  |  |  | 1,251,761 |
Depreciation of right-of-use assets (Note 25) |  |  | 604,018 |  |  |  | 608,889 |  |  |  | 578,014 |
Taxes and surcharges |  |  | 380,460 |  |  |  | 534,647 |  |  |  | 568,826 |
Business entertainment expenses |  |  | 769,834 |  |  |  | 619,328 |  |  |  | 389,369 |
Depreciation of property and equipment (Note 23) |  |  | 226,862 |  |  |  | 193,511 |  |  |  | 177,799 |
Audit fees |  |  | 49,618 |  |  |  | 42,376 |  |  |  | 39,271 |
Amortization of intangible assets (Note 24) |  |  | 31,831 |  |  |  | 22,234 |  |  |  | 15,325 |
Listing expenses |  |  | — |  |  |  | — |  |  |  | 11,418 |
Others |  |  | 1,049,327 |  |  |  | 740,039 |  |  |  | 1,057,293 |
Total sales and marketing expenses, general and administrative expenses, operation and servicing expenses, technology and analytics expenses |  |  | 28,612,479 |  |  |  | 30,193,984 |  |  |  | 26,889,351 |
|  | Year ended December 31, |
|  | 2020 |  |  | 2021 |  |  | 2022 |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
Sales and marketing expense |  |  |  |  |  |  |  |  |  |  |  |
Borrower acquisition expenses |  |  | 11,506,402 |  |  |  | 10,119,525 |  |  |  | 7,865,407 |
General sales and marketing expenses |  |  | 5,402,999 |  |  |  | 6,637,150 |  |  |  | 6,653,847 |
Investor acquisition and retention expenses |  |  | 819,888 |  |  |  | 676,984 |  |  |  | 301,092 |
Referral expenses from platform service |  |  | 84,268 |  |  |  | 559,413 |  |  |  | 936,570 |
|  |  | 17,813,557 |  |  |  | 17,993,072 |  |  |  | 15,756,916 |
10.1 | Employee benefit expenses
(a) | Employee benefit expenses are as follows:
|  | Year ended December 31, |
|  | 2020 |  |  | 2021 |  |  | 2022 |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
Wages, salaries and bonuses |  |  | 10,764,239 |  |  |  | 11,681,753 |  |  |  | 10,163,216 |
Other social security costs, housing benefits and other employee benefits |  |  | 2,787,803 |  |  |  | 3,157,771 |  |  |  | 3,293,366 |
Pension costs – defined contribution plans |  |  | 427,917 |  |  |  | 1,430,074 |  |  |  | 1,577,818 |
Share-based payment (Note 43) |  |  | 165,248 |  |  |  | 133,395 |  |  |  | 45,919 |
|  |  | 14,145,207 |  |  |  | 16,402,993 |  |  |  | 15,080,319 |
(b) | Five highest paid individuals
The five individuals whose emoluments excluding share-based payment were the highest in the Group for the years ended December 31, 2020, 2021 and 2022 include four, three and two directors, whose emoluments are reflected in the analysis shown in Note 47. The emoluments payable to the remaining one, two and three individuals during the years ended December 31, 2020, 2021 and 2022 are as follows:
|  | Year ended December 31, |
|  | 2020 |  |  | 2021 |  |  | 2022 |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
Wages, salaries and bonuses |  |  | 4,600 |  |  |  | 12,294 |  |  |  | 10,044 |
Other social security costs, housing benefits and other employee benefits |  |  | 1,515 |  |  |  | 2,132 |  |  |  | 2,819 |
Pension costs – defined contribution plans |  |  | — |  |  |  | 57 |  |  |  | 149 |
|  |  | 6,115 |  |  |  | 14,483 |  |  |  | 13,012 |
The emoluments fell within the following bands:
|  | Year ended December 31, |
|  | 2020 |  |  | 2021 |  |  | 2022 |
Emolument bands (in RMB’000) |  |  |  |  |  |  |  |  |  |  |  |
1,000 – 5,000 |  |  | — |  |  |  | — |  |  |  | 2 |
5,001 – 10,000 |  |  | 1 |  |  |  | 2 |  |  |  | 1 |
|  |  | 1 |  |  |  | 2 |  |  |  | 3 |

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- Definition The disclosure of expenses by nature. [Refer: Expenses, by nature] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2022-03-24 -Paragraph 10 -Subparagraph e -URI https://taxonomy.ifrs.org/xifrs-link?type=IAS&num=1&code=ifrs-tx-2022-en-r&anchor=para_10_e&doctype=Standard -URIDate 2022-03-24 + Details
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