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Related party transactions (Tables)

12 Months Ended

Dec. 31, 2022

Related party transactions

Schedule of related parties of the Group that had balances and/or transactions with the Group

The following companies are related parties of the Group that had balances and/or transactions with the Group during the years ended December 31, 2020, 2021 and 2022.

​

​	​		​		​
Name of related parties		Relationship with the Group
Sen Rong Limited(i)	​	A shareholder that has significant influence over the Group			​
Rong Chang Limited(i)	​	A shareholder that has significant influence over the Group			​
Bo Yu	​	A shareholder that has significant influence over the Group			​
Ping An Group	​	Ultimate parent company of Bo Yu			​
Subsidiaries of Ping An Group	​	Controlled by Ping An Group			​
Puhui Lixin	​	Significant influenced by the Group			​
Open Portal Guangxi	​	Significant influenced by the Group			​

(i) Sen Rong Limited and Rong Chang Limited has entered into an acting-in-concert agreement in 2020 and an amended and restarted agreement in 2021. As a result, Rong Chang and Sen Rong as a concert group had significant influence over the Group.

Schedule of key management personnel compensations

​

​	​	​	​	​	​	​
​	​	For the year ended December 31,
​	​	2020	​	2021	​	2022
​		RMB’000		RMB’000		RMB’000
​	​	​	​	​	​	​
Wages and salaries		29,115		28,163		21,123
Welfare and other benefits		1,385		772		614
Share-based payments		3,627		4,187		8,401
​		34,127		33,122		31,138

​

Schedule of significant transactions and year end balances with related parties

​

35   Related party transactions (Continued)

(c) Significant transactions with related parties

​

​	​	​	​	​	​	​
​	​	For the year ended
​	​	December 31,
​		2020		2021		2022
​	​	RMB’000	​	RMB’000	​	RMB’000
Revenue
Ping An Group and its subsidiaries*		1,730,038	​	2,315,220	​	2,526,682
Puhui Lixin		4,189	​	—	​	—
​		1,734,227	​	2,315,220	​	2,526,682

*The Group provided lending solution services to a subsidiary of Ping An Group while the subsidiary of Ping An Group was not being charged. The service fee was charged to the respective borrowers directly. The revenue generated from such transactions for the years ended December 31, 2020, 2021 and 2022, was not included in the above revenue from Ping An Group and its subsidiaries, amounted to RMB5,290,568, RMB Nil and RMB Nil, respectively.

The Group also provided lending solution services to third party lenders through contractual arrangements made with another subsidiary of Ping An Group, while the Group directly charged the related service fees to the subsidiary of Ping An Group. The revenue generated from such transactions for the years ended December 31, 2020, 2021 and 2022, was included in the above revenue from Ping An Group and its subsidiaries, amounted to RMB3,230,878, RMBNil and RMB Nil, respectively.

Revenue generated by providing implementation and support service jointly with Ping An Technology (Shenzhen) Co., Ltd, a related party, for the years ended December 31, 2020, 2021 and 2022 amounted to RMB6,546,653, RMB8,308,537 and RMBNil, respectively.

​

​	​	​	​	​	​	​
​		For the year ended December 31,
​	​	2020	​	2021	​	2022
​	​	RMB’000	​	RMB’000	​	RMB’000
Purchase of services
Ping An Group and its subsidiaries		1,285,595	​	1,534,302		1,706,436
​	​	​	​	​	​	​
Net loss on disposal of property and equipment	​	​	​	​	​	​
Ping An Group and its subsidiaries	​	—	​	—	​	(599)
​	​	​	​	​	​	​
Net gain from wealth management products consolidated by related parties
Ping An Group and its subsidiaries		8,704		26,249		18,890
​	​	​	​	​	​	​
Net( loss)/gain on derivatives
Ping An Group and its subsidiaries		(281,691)		(169,545)		262,769
​		​		​		​
Investment income from loan to related party	​	​	​	​	​	​
Open Portal Guangxi	​	—	​	—	​	283
​	​	​	​	​	​	​
Interest income on bank deposits
Ping An Group and its subsidiaries		28,129		12,037		9,234
​	​	​	​	​	​	​
Leasing payment
Ping An Group and its subsidiaries		19,991		19,849		20,957
​	​	​	​	​	​	​
Interest expenses
Ping An Group and its subsidiaries		32,575		15,914		2,672
​	​	​	​	​	​	​
Net gain on financial assets measured at fair value through other comprehensive income	​	​	​	​	​	​
Ping An Group and its subsidiaries		—		—		315

35 Related party transactions (Continued)

​

(d) Year end balances with related parties

​

​	​	​	​	​
​	​	As at December 31,
​		2021		2022
​	​	RMB’000	​	RMB’000
Trade receivables	​		​
Ping An Group and its subsidiaries (i)	​	442,694		372,456
​	​	​	​	​
Contract assets	​	​		​
Ping An Group and its subsidiaries	​	17,746		9,876
​	​	​	​	​
Prepayment and other receivables	​	​		​
Ping An Group and its subsidiaries	​	531,327		771,137
Open Portal Guangxi (i)	​	3,515	​	—
​	​	534,842	​	771,137
​	​	​	​	​
Financial assets at fair value through profit or loss (Note 21)	​
Ping An Group and its subsidiaries	​	599,540		405,960
​	​	​	​	​
Cash and restricted cash and time deposits over three months	​
Ping An Group and its subsidiaries	​	1,131,585		787,916
​	​	​	​	​
Trade and other payables	​
Ping An Group and its subsidiaries (i)	​	1,178,438		1,086,907
Open Portal Guangxi (i)	​	362	​	—
​	​	1,178,800	​	1,086,907
​	​	​	​	​
Contract liabilities	​	​	​	​
Ping An Group and its subsidiaries	​	19,018	​	27,517
​	​	​	​	​
Short‑term borrowings	​
Ping An Group and its subsidiaries	​	300,805		—
​	​	​	​	​
Derivative financial assets	​
Ping An Group and its subsidiaries	​	—		56,363
​	​	​	​	​
Derivative financial liabilities	​
Ping An Group and its subsidiaries	​	190,971		9,568

(i) The balances with related parties were unsecured, interest-free and repayable on demand.

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