Financial Risk Management Objectives and Policies (Tables)

12 Months Ended

Dec. 31, 2022

Financial Risk Management Objective And Policies [Abstract]

Disclosure of financial assets that are either past due or impaired

Maximum exposure and staging as of December 31, 2021 and 2022

As of December 31, 2021


	12-month ECLs		Lifetime ECLs
	Stage 1 HK$		Stage 2 HK$		Stage 3 HK$		Simplified approach HK$		HK$
Accounts receivable*		21,545,865		—		—		64,968,815		86,514,680
Financial assets included in prepayments, deposits and other receivables
—Normal**		1,196,110		—		—		—		1,196,110
Due from immediate holding company
—Normal**		2,144,975,230		—		—		—		2,144,975,230
Other assets
— Not yet past due		136,065,738		—		—		—		136,065,738
Cash and bank balances
— Not yet past due		526,206,108		—		—		—		526,206,108

		2,829,989,051		—		—		64,968,815		2,894,957,866

*	For accounts receivable to which the Group applies the simplified approach for impairment, information based on the provision matrix and internal credit rating mentioned in Note 11 to the consolidated financial statements.

The credit quality of the financial assets included in prepayments, deposits and other receivables, and due from immediate holding company is considered to be “normal” when they are not past due and there is no information indicating that the financial assets had a significant increase in credit risk since initial recognition; “doubtful” when there has been significant increase in credit risk since initial recognition through information developed internally or externally; “loss” when there is evidence indicating the asset is credit-impaired: and “

write-off

” when there is evidence indicating that the debtor is in severe financial difficulty and Group has no realistic prospect of recovery.

As of December 31, 2022


	12-month ECLs		Lifetime ECLs
	Stage 1 HK$		Stage 2 HK$		Stage 3 HK$		Simplified approach HK$		HK$
Accounts receivable*		—		—		—		187,673,616		187,673,616
Financial assets included in prepayments, deposits and other receivables
—Normal**		954,518,603		—		—		—		954,518,603
Due from immediate holding company
—Normal**		2,239,358,702		—		—		—		2,239,358,702
Other assets
— Not yet past due		9,620,468		—		—		—		9,620,468
Restricted cash
— Not yet past due		3,239,362		—		—		—		3,239,362
Cash and bank balances
— Not yet past due		1,078,411,335		—		—		—		1,078,411,335

		4,285,148,470		—		—		187,673,616		4,472,822,086

*	For accounts receivable to which the Group applies the simplified approach for impairment, information based on the provision matrix and internal credit rating mentioned in Note 11 to the consolidated financial statements.

write-off

” when there is evidence indicating that the debtor is in severe financial difficulty and Group has no realistic prospect of recovery.

Disclosure of maturity analysis for non-derivative financial liabilities

The following tables detail the Group’s remaining contractual maturity for its financial liabilities. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Group can be required to pay.


	As of December 31, 2021
	Weighted average interest rate			On demand or less than 3 months		3 months to 1 year		1 to 5 years		Total
	%			HK$		HK$		HK$		HK$
Accounts payable		N/A			155,020,918		—		—		155,020,918
Bank borrowings		2.1	%		390,926,836		2,631,251		—		393,558,087
Financial liabilities included in other payables and accruals		N/A			72,107,680		—		—		72,107,680
Convertible bond		7.8	%		—		—		125,319,026		125,319,026

					618,055,434		2,631,251		125,319,026		746,005,711


	As of December 31, 2022
	Weighted average interest rate			On demand or less than 3 months		3 months to 1 year		1 to 5 years		Total
	%			HK$		HK$		HK$		HK$
Accounts payable		N/A			82,315,173		—		—		82,315,173
Bank borrowings		6.3	%		158,011,249		622,237		3,614,825		162,248,311
Financial liabilities included in other payables and accruals		N/A			102,788,191		—		—		102,788,191

					343,114,613		622,237		3,614,825		347,351,675