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Fair Value and Fair Value Hierarchy of Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2022
Disclosure of detailed information about financial instruments [abstract] |
Schedule of carrying amount and fair value of the financial instruments | The carrying amounts and fair values of the Group’s financial instruments measured at fair value are as follows:
|  | Carrying amounts |  |  | Fair values |
|  | As of December 31, |  |  | As of December 31, |
|  | 2021 |  |  | 2022 |  |  | 2021 |  |  | 2022 |
|  | HK$ |  |  | HK$ |  |  | HK$ |  |  | HK$ |
Financial assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial assets at fair value through profit or loss |  |  | 2,786,027,085 |  |  |  | 1,523,195,334 |  |  |  | 2,786,027,085 |  |  |  | 1,523,195,334 |
Derivative financial asset s |  |  | 969,894,519 |  |  |  | 1,443,134,162 |  |  |  | 968,386,750 |  |  |  | 1,443,214,318 |
|  |  | 3,755,921,604 |  |  |  | 2,966,329,496 |  |  |  | 3,754,413,835 |  |  |  | 2,966,409,652 |
Financial liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial liability |  |  | 13,752,673 |  |  |  | — |  |  |  | 13,752,673 |  |  |  | — |
Disclosure of detailed information about in unobservable inputs to valuation of financial instruments explanatory | Below is summary of significant unobservable inputs to valuation of financial instruments together with a quantitative sensitivity analysis as of December 31, 2021:
|  | Valuation technique |  | Significant unobservable input |  | Range or estimate |  |  | Sensitivity of value to the input
Unlisted equity investment Investment D |  | Multiple/ EVA |  | Equity volatility |  |  | 75.29 | % |  | 5% increase/decrease in volatility results in decrease/increase in fair value by 0%/ 0%
|  |  |  | Median Forward P/E multiple of peers |  |  | 2.10 |  |  | 5% increase/decrease in P/E multiple results in increase/decrease in fair value by 0%/1.9%
Unlisted equity investment Investment E |  | Multiple/ EVA |  | Equity volatility |  |  | 48.52 | % |  | 5% increase/decrease in volatility results in decrease/increase in fair value by 1.3%/1.3%
|  |  |  | Median Forward P/E multiple of peers |  |  | 18.97 |  |  | 5% increase/decrease in P/E multiple results in increase/decrease in fair value by 4.2%/4.3%
Unlisted equity investment Investment F |  | Multiple/ EVA |  | Average P/E multiple of peers |  |  | 61.29 |  |  | 5% increase/decrease in P/E multiple results in increase/decrease in fair value by 5.0%/5.0%
|  |  |  | Discount of lack of marketability |  |  | 45 | % |  | 5% increase/decrease in discount of lack of marketability results in decrease/increase in fair value by 4.1%/4.1%
Unlisted equity investment Investment H |  | Net asset value method |  | Net asset value |  |  | Note | (a) |  | 5% increase/decrease in net asset value results in increase/decrease in fair value by 5.0%/5.0%
Derivative financial assets in relation to the Agreements |  | MCS |  | Volatility of Underlying Assets |  |  | 35.95 | % |  | 5% increase/decrease in volatility results in increase/decrease in fair value by 0.06%
Derivative financial liability |  | Binomial option pricing model |  | Volatility |  |  | 46.21 | % |  | 5% increase/decrease in volatility results in increase/decrease in fair value by 0.07%/0.13%
| Discount rate |  |  | 12.52 | % |  | 5% increase/decrease in discount rate results in decrease/increase in fair value by 0.70%/0.71%
Disclosure of fair value measurement of assets explanatory | The following tables illustrate the fair value measurement hierarchy of the Group’s financial instruments: Assets measured at fair value :
|  | Fair value measurement using |
|  | Quoted prices in active markets (Level 1) |  |  | Observable inputs (Level 2) |  |  | Significant unobservable inputs (Level 3) |  |  | Total |
|  | HK$ |  |  | HK$ |  |  | HK$ |  |  | HK$ |
As of December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial assets at fair value through profit or loss |  |  | 1,055,407,260 |  |  |  | 21,525,064 |  |  |  | 1,709,094,761 |  |  |  | 2,786,027,085 |
Derivative financial asset |  |  | — |  |  |  | — |  |  |  | 969,894,519 |  |  |  | 969,894,519 |
|  |  | 1,055,407,260 |  |  |  | 21,525,064 |  |  |  | 2,678,989,280 |  |  |  | 3,755,921,604 |
As of December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial assets at fair value through profit or loss |  |  | 861,455,286 |  |  |  | 33,804,838 |  |  |  | 627,935,210 |  |  |  | 1,523,195,334 |
Derivative financial assets |  |  | — |  |  |  | 137,877,845 |  |  |  | 1,305,256,317 |  |  |  | 1,443,134,162 |
|  |  | 861,455,286 |  |  |  | 171,682,683 |  |  |  | 1,933,191,527 |  |  |  | 2,966,329,496 |
Disclosure of Fair Value Measurement of Liabilities Explanatory | Liability measured at fair value :
|  | Fair value measurement using |
|  | Quoted prices in active markets (Level 1) |  |  | Observable inputs (Level 2) |  |  | Significant unobservable inputs (Level 3) |  |  | Total |
|  | HK$ |  |  | HK$ |  |  | HK$ |  |  | HK$ |
As of December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial liabilities |  |  | — |  |  |  | — |  |  |  | 13,752,673 |  |  |  | 13,752,673 |
Schedule of detailed information about in fair value measurement level 3 | The movements in fair value measurements within Level 3 during the years are as follow:
|  | For the year ended December 31, |
|  | 2020 |  |  | 2021 |  |  | 2022 |
|  | HK$ |  |  | HK$ |  |  | HK$ |
Financial assets at fair value through profit or loss: |  |  |  |  |  |  |  |  |  |  |  |
At January 1, |  |  | 322,697,916 |  |  |  | 299,855,685 |  |  |  | 1,709,094,761 |
Addition |  |  | — |  |  |  | 163,180,000 |  |  |  | 169,303,189 |
Disposal |  |  | — |  |  |  | (196,036,584 | ) |  |  | (354,050,259 | )
Transfer (Note 3) |  |  | — |  |  |  | 1,120,244,487 |  |  |  | 11,630,000 |
Derecognition (Note 34(a)) |  |  | — |  |  |  | — |  |  |  | (1,271,643,878 | )
Receipt of investment return |  |  | — |  |  |  | — |  |  |  | (20,899,338 | )
Total (losses) gains in profit or loss |  |  | (22,842,231 | ) |  |  | 321,851,173 |  |  |  | 384,500,735 |
At December 31, |  |  | 299,855,685 |  |  |  | 1,709,094,761 |  |  |  | 627,935,210 |
The total profits for the year included an unrealized gain of HK$216,520,744 relating to level 3 financial assets at FVTPL that are measured at fair value held as at December 31, 202 2 (Unrealized gain of HK$321,851,173 and unrealized loss of HK$22,842,231 as at December 31, 2021 and 2020, respectively). Fair value gains or losses on financial assets at FVTPL are included in the “Net fair value changes on financial assets at fair value through profit or loss (except derivative financial assets)” line item. Included in the total (losses) gains in profit or loss for the year ended December 31, 2022 is HK$168,063,704 relating to gain from disposal of financial assets at fair value through profit or loss.
|  | For the year ended December 31, |
|  | 2021 |  |  | 2022 |
|  | HK$ |  |  | HK$ |
Derivative financial assets in relation to the Agreements (Note 14): |  |  |  |  |  |  |  |
At January 1, |  |  | 1,023,902,566 |  |  |  | 969,894,519 |
Recognition of day 1 profit or loss deferred on inception of contract, renegotiation and extension |  |  | 14,591,113 |  |  |  | 15,588,500 |
Net fair value gains recognized in profit or loss |  |  | (68,599,160 | ) |  |  | 331,293,928 |
Gain related to disposed investment |  |  | — |  |  |  | 3,786,355 |
Partial settlement |  |  | — |  |  |  | (15,306,985 | )
At December 31, |  |  | 969,894,519 |  |  |  | 1,305,256,317 |
|  | For the year ended December 31, |
|  | 2021 |  |  | 2022 |
|  | HK$ |  |  | HK$ |
Derivative financial liability (Note 25): |  |  |  |  |  |  |  |
At January 1, |  |  | 12,954,313 |  |  |  | 13,752,673 |
Net fair value changes recognized in profit or loss |  |  | 798,360 |  |  |  | (13,347,266 | )
Converted into class A shares |  |  | — |  |  |  | (405,407 | )
At December 31, |  |  | 13,752,673 |  |  |  | — |

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