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v3.23.1

Management of financial risk (Tables) | 12 Months Ended
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Dec. 31, 2022
Management of financial risk |
Schedule of tabular disclosure of contract asset and trade receivable | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31, 2021
​ |  | RMB'000 |  | RMB'000 |  | RMB'000
​ |  | Trade |  | Contract |  | ​
​ |  | receivables |  | assets | ​ | Total
Gross carrying amount |  |  |  |  |  |
Applying simplified approach |  | ​ |  | ​ |  | ​
​ |  | 934,152 |  | 311,103 |  | 1,245,255
​ | ​ | ​ | ​ | ​ | ​ | ​
Loss allowance |  |  |  |  |  |
Applying simplified approach |  | ​ |  | ​ |  | ​
​ |  | 42,978 |  | 82,340 |  | 125,318
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31, 2022
​ |  | RMB'000 |  | RMB'000 |  | RMB'000
​ |  | Trade |  | Contract |  | ​
​ |  | receivables |  | assets | ​ | Total
Gross carrying amount |  |  |  |  |  |
Applying simplified approach |  | 998,036 |  | 182,480 |  | 1,180,516
​ | ​ | ​ | ​ | ​ | ​ | ​
Loss allowance |  | ​ |  | ​ |  | ​
Applying simplified approach |  | 57,047 | ​ | 59,852 |  | 116,899
​
Schedule of impairment loss allowance | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31, 2021 |
​ |  | Related |  | Up to |  | 1 year to |  | 2 year to |  | Above |  | ​ |
​ | ​ | parties | ​ | 1 year | ​ | 2 year | ​ | 3 year | ​ | 3 years | ​ | Total |
Expected loss rate | ​ | 1.55 | % | 6.31 | % | 33.30 | % | 89.51 | % | 98.86 | % | 10.06 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gross carrying amount of trade receivables and contract assets applying simplified approach |  | 456,470 |  | 653,428 |  | 81,012 |  | 39,758 |  | 14,587 |  | 1,245,255 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loss allowance of trade receivables and contract assets applying simplified approach |  | 7,091 |  | 41,240 |  | 26,980 |  | 35,587 |  | 14,420 |  | 125,318 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31, 2022 |
​ | ​ | Related | ​ | Up to | ​ | 1 year to | ​ | 2 year to | ​ | Above | ​ | ​ |
​ |  | parties |  | 1 year |  | 2 year |  | 3 year |  | 3 years |  | Total |
Expected loss rate |  | 2.27 | % | 3.33 | % | 42.80 | % | 68.40 | % | 97.75 | % | 9.90 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gross carrying amount of trade receivables and contract assets applying simplified approach |  | 391,221 |  | 657,723 |  | 63,170 | ​ | 26,482 | ​ | 41,920 | ​ | 1,180,516 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loss allowance of trade receivables and contract assets applying simplified approach |  | 8,888 |  | 21,885 |  | 27,038 | ​ | 18,113 | ​ | 40,975 | ​ | 116,899 | ​
​
Schedule of undiscounted contractual cash flows | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31, 2021
​ |  | Within 1 year |  | 1 to 5 years |  | Total
​ | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000
​ | ​ | ​ | ​ | ​ | ​ | ​
Short‑term borrowings |  | 818,246 | ​ | — | ​ | 818,246
Trade and other payables |  | 1,158,593 | ​ | 340,162 | ​ | 1,498,755
- Including: lease liabilities | ​ | 65,094 | ​ | 112,102 | ​ | 177,196
Customer deposits |  | 1,350,171 | ​ | — | ​ | 1,350,171
Non‑derivative financial liabilities | ​ | 3,327,010 | ​ | 340,162 | ​ | 3,667,172
​ | ​ | ​ | ​ | ​ | ​ | ​
Gross settled (foreign currency swaps) |  | ​ | ​ | ​ | ​ | ​
- (inflow) |  | (2,147,751) | ​ | — | ​ | (2,147,751)
- outflow | ​ | 2,338,722 | ​ | — | ​ | 2,338,722
Derivative financial liabilities | ​ | 190,971 | ​ | — | ​ | 190,971
​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | 3,517,981 | ​ | 340,162 | ​ | 3,858,143
​ ​ 4 Management of financial risk (Continued) 4.1 Financial Risk (Continued)
(c) | Liquidity risk (Continued)
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31, 2022
​ |  | Within 1 year |  | 1 to 5 years |  | Total
​ | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000
​ | ​ | ​ | ​ | ​ | ​ | ​
Short‑term borrowings |  | 294,461 | ​ | — | ​ | 294,461
Trade and other payables |  | 1,236,571 | ​ | 139,387 | ​ | 1,375,958
- Including: lease liabilities | ​ | 50,862 | ​ | 47,093 | ​ | 97,955
Other financial liabilities from virtual bank | ​ | 89,327 | ​ | — | ​ | 89,327
Customer deposits | ​ | 1,929,183 | ​ | — | ​ | 1,929,183
Non‑derivative financial liabilities |  | 3,549,542 | ​ | 139,387 | ​ | 3,688,929
​ | ​ | ​ | ​ | ​ | ​ | ​
Gross settled (foreign currency swaps) |  | ​ | ​ | ​ | ​ | ​
- (inflow) |  | (198,722) | ​ | — | ​ | (198,722)
- outflow |  | 208,290 | ​ | — | ​ | 208,290
Derivative financial liabilities |  | 9,568 | ​ | — | ​ | 9,568
Total |  | 3,559,110 | ​ | 139,387 | ​ | 3,698,497
​
Schedule of fair value measurement hierarchy of the Group's financial assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31, 2021
​ |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
​ | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000
Assets measured at fair value |  | ​ |  | ​ |  | ​ |  | ​
Financial assets at fair value through profit or loss (Note 21) |  | — |  | 2,070,977 |  | 676 |  | 2,071,653
Financial assets measured at fair value through other comprehensive income (Note 16) |  | 16,334 |  | — |  | 1,106,664 |  | 1,122,998
Financial liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative financial liabilities | ​ | — | ​ | 190,971 | ​ | — | ​ | 190,971
​ ​ 4 Management of financial risk (Continued) 4.3 Fair value estimation (Continued) Determination of fair value and fair value hierarchy (Continued) ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31, 2022
​ |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
​ | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000
Assets measured at fair value |  | ​ |  | ​ |  | ​ |  | ​
Financial assets at fair value through profit or loss (Note 21) |  | — | ​ | 690,627 | ​ | — | ​ | 690,627
Financial assets measured at fair value through other comprehensive income (Note 16) |  | 442,935 | ​ | — | ​ | 1,611,606 | ​ | 2,054,541
Derivative financial assets | ​ | — | ​ | 56,363 | ​ | — | ​ | 56,363
Financial liabilities |  | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative financial liabilities | ​ | — | ​ | 9,568 | ​ | — | ​ | 9,568
​
Schedule of movements of Level 3 financial instruments measured at fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended
​ | ​ | December 31,
​ |  | 2020 |  | 2021 |  | 2022
​ | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000
Beginning of the year |  | 6,438 | ​ | 5,676 | ​ | 1,107,340
Additions, net |  | — | ​ | 1,103,460 | ​ | 506,620
(Losses)/gain recognised in other comprehensive income | ​ | — | ​ | (1,796) | ​ | (1,678)
Losses recognised in other gain | ​ | (762) | ​ | — | ​ | (676)
End of the year |  | 5,676 | ​ | 1,107,340 | ​ | 1,611,606
​
Currency risk |
Management of financial risk |
Schedule of sensitivity analysis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At December 31, | ​ | At December 31,
​ | ​ | 2020 | ​ | 2021 | ​ | 2022 | ​ | 2020 | ​ | 2021 | ​ | 2022
​ | ​ | Impact on post tax profit | ​ | Impact on other components of equity
​ |  | RMB’000 | ​ | RMB’000 |  | RMB’000 |  | RMB’000 | ​ | RMB’000 |  | RMB’000
USD+5% |  | 52,506 | ​ | (4,028) |  | 1,752 |  | 618,581 | ​ | 260,467 | ​ | 230,632
USD −5% |  | (52,506) | ​ | 4,028 |  | (1,752) |  | (618,581) | ​ | (260,467) | ​ | (230,632)
​
Interest rate risk |
Management of financial risk |
Schedule of sensitivity analysis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As at December 31, 2022
RMB million |  | HKD |  | USD |  | RMB
​ | ​ | ​ | ​ | ​ | ​ | ​
Impact on earnings over the next 12 months if interest rates rise by 200 basis points |  | (9) |  | 9 |  | 1
Impact on economic value if interest rates rise by 200 basis points |  | (25) |  | (1) |  | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As at December 31, 2021
RMB million |  | HKD |  | USD |  | RMB
​ | ​ | ​ | ​ | ​ | ​ | ​
Impact on earnings over the next 12 months if interest rates rise by 200 basis points |  | (20) |  | — |  | 4
Impact on economic value if interest rates rise by 200 basis points |  | (27) |  | — |  | —
​
Trade receivable and contract asset |
Management of financial risk |
Schedule of movements in the impairment loss allowance | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
​ |  | 2020 |  | 2021 |  | 2022
​ | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000
Beginning of the year |  | (45,944) | ​ | (97,243) |  | (125,318)
Additions of impairment loss, net | ​ | (118,943) | ​ | (71,061) | ​ | (18,715)
Recovery of amounts written off previously | ​ | — | ​ | — | ​ | (9,980)
Write-off |  | 67,644 | ​ | 42,986 |  | 37,156
Exchange difference | ​ | — | ​ | — | ​ | (42)
End of the year |  | (97,243) | ​ | (125,318) |  | (116,899)
​
Credit risk exposure of other receivables is mainly from financial guarantee fee receivables | ​
​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31,
​ |  | 2021 |  | 2022
​ | ​ | RMB’000 | ​ | RMB’000
Gross carrying amount |  | ​ |  | ​
​ | ​ | ​ | ​ | ​
Financial assets measured at amortized cost |  | 13,575 |  | 44
Financial assets measured at fair value through other comprehensive income |  | 1,103,460 |  | 1,608,402
​ |  | 1,117,035 |  | 1,608,446
​ | ​ | ​ | ​ | ​
Expected credit loss provision |  | 190 |  | —
​ |  | ​ |  | ​
Expected loss rate |  | 1.40 | % | —
​
Contract assets of transaction based and support service |
Management of financial risk |
Schedule of movements in the impairment loss allowance | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
​ |  | 2020 |  | 2021 |  | 2022
​ | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000
Beginning of the year | ​ | — |  | (711) |  | (190)
(Additions)/Reversals of impairment loss | ​ | (711) | ​ | (1,170) | ​ | 190
Write‑off | ​ | — |  | 1,691 |  | —
End of the year | ​ | (711) |  | (190) |  | —
​
Loans and advances to customers. |
Management of financial risk |
Schedule of movements in the impairment loss allowance | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the year ended December 31,
​ | ​ | 2020 |  | 2021 |  | 2022
​ |  | RMB’000 | ​ | RMB’000 | ​ | RMB’000
Beginning of the year |  | — |  | (712) |  | (1,962)
(Additions)/Reversals of impairment loss |  | (712) |  | (1,250) |  | (10,616)
Write-off |  | — |  | — |  | 1,050
End of the year |  | (712) |  | (1,962) |  | (11,528)
​

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