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Intangible assets | 12 Months Ended
--- | ---
Dec. 31, 2024
Intangible assets. |
Intangible assets | 15 Intangible assets ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Application and platform | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Contributed | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Development | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | by Ping | ​ | Developed | ​ | ​ | ​ | Purchased | ​ | costs in | ​ | ​ | ​ | Business | ​ | ​ | ​ | ​
​ |  | An Group |  | internally |  | Acquired |  | Software |  | progress |  | Goodwill |  | license |  | Others |  | Total
​ |  | RMB’000 |  | RMB’000 | ​ | RMB’000 |  | RMB’000 |  | RMB’000 |  | RMB’000 |  | RMB’000 |  | RMB’000 |  | RMB’000
Year ended December 31, 2023 |  |  |  |  | ​ | ​ |  |  |  |  |  |  |  |  |  |  |  |
Opening net book amount |  | — | ​ | 176,206 | ​ | — | ​ | 12,821 | ​ | 29,179 | ​ | 289,161 | ​ | 61,026 | ​ | 2,043 | ​ | 570,436
Additions |  | — | ​ | — | ​ | — | ​ | 9,779 | ​ | 21,709 | ​ | — | ​ | — | ​ | — | ​ | 31,488
Impairment | ​ | — | ​ | (1,400) | ​ | — | ​ | — | ​ | (4,451) | ​ | — | ​ | — | ​ | — | ​ | (5,851)
Transfer |  | — | ​ | 30,764 | ​ | — | ​ | — | ​ | (30,764) | ​ | — | ​ | — | ​ | — | ​ | —
Amortization |  | — | ​ | (77,975) | ​ | — | ​ | (15,509) | ​ | — | ​ | — | ​ | (30,906) | ​ | (2,043) | ​ | (126,433)
Exchange differences | ​ | — | ​ | 1,265 | ​ | — | ​ | 138 | ​ | 328 | ​ | — | ​ | — | ​ | — | ​ | 1,731
Closing net book amount |  | — | ​ | 128,860 | ​ | — | ​ | 7,229 | ​ | 16,001 | ​ | 289,161 | ​ | 30,120 | ​ | — | ​ | 471,371
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As at December 31, 2023 |  | ​ |  | ​ | ​ | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
Cost |  | 690,910 | ​ | 802,696 | ​ | 61,078 | ​ | 159,513 | ​ | 15,193 | ​ | 289,161 | ​ | 155,492 | ​ | 80,263 | ​ | 2,254,306
Accumulated amortization |  | (690,910) | ​ | (680,040) | ​ | (61,078) | ​ | (152,394) | ​ | — | ​ | — | ​ | (125,372) | ​ | (80,263) | ​ | (1,790,057)
Exchange differences | ​ | — | ​ | 6,204 | ​ | — | ​ | 110 | ​ | 808 | ​ | — | ​ | — | ​ | — | ​ | 7,122
Net book amount |  | — | ​ | 128,860 | ​ | — | ​ | 7,229 | ​ | 16,001 | ​ | 289,161 | ​ | 30,120 | ​ | — | ​ | 471,371
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Application and platform | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Contributed | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Development | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | by Ping | ​ | Developed | ​ | ​ | ​ | Purchased | ​ | costs in | ​ | ​ | ​ | Business | ​ | ​ | ​ | ​
​ |  | An Group |  | internally |  | Acquired |  | Software |  | progress |  | Goodwill |  | license |  | Others |  | Total
​ |  | RMB’000 |  | RMB’000 | ​ | RMB’000 |  | RMB’000 |  | RMB’000 |  | RMB’000 |  | RMB’000 |  | RMB’000 |  | RMB’000
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Year ended December 31, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Opening net book amount | ​ | — | ​ | 128,860 | ​ | — | ​ | 7,229 | ​ | 16,001 | ​ | 289,161 | ​ | 30,120 | ​ | — | ​ | 471,371
Additions | ​ | — | ​ | — | ​ | — | ​ | 602 | ​ | 20,708 | ​ | — | ​ | — | ​ | — | ​ | 21,310
Impairment | ​ | — | ​ | (2,392) | ​ | — | ​ | — | ​ | — | ​ | (131,901) | ​ | — | ​ | — | ​ | (134,293)
Transfer | ​ | — | ​ | 17,608 | ​ | — | ​ | — | ​ | (17,608) | ​ | — | ​ | — | ​ | — | ​ | —
Amortization | ​ | — | ​ | (26,728) | ​ | — | ​ | (3,291) | ​ | — | ​ | — | ​ | (23,978) | ​ | — | ​ | (53,997)
Disposal of subsidiaries (Note 12) | ​ | — | ​ | (94,028) | ​ | — | ​ | (1,934) | ​ | (13,102) | ​ | — | ​ | — | ​ | — | ​ | (109,064)
Exchange differences | ​ | — | ​ | 437 | ​ | — | ​ | 7 | ​ | (135) | ​ | — | ​ | — | ​ | — | ​ | 309
Closing net book amount | ​ | — | ​ | 23,757 | ​ | — | ​ | 2,613 | ​ | 5,864 | ​ | 157,260 | ​ | 6,142 | ​ | — | ​ | 195,636
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As at December 31, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cost | ​ | 690,910 | ​ | 647,025 | ​ | 61,078 | ​ | 133,506 | ​ | 5,191 | ​ | 157,260 | ​ | 155,492 | ​ | 80,263 | ​ | 1,930,725
Accumulated amortization | ​ | (690,910) | ​ | (629,909) | ​ | (61,078) | ​ | (131,010) | ​ | — | ​ | — | ​ | (149,350) | ​ | (80,263) | ​ | (1,742,520)
Exchange differences | ​ | — | ​ | 6,641 | ​ | — | ​ | 117 | ​ | 673 | ​ | — | ​ | — | ​ | — | ​ | 7,431
Net book amount | ​ | — | ​ | 23,757 | ​ | — | ​ | 2,613 | ​ | 5,864 | ​ | 157,260 | ​ | 6,142 | ​ | — | ​ | 195,636
​ 15 Intangible assets (Continued) The Group assesses at each reporting date whether there is an indication that intangible assets may be impaired. During the year ended December 31, 2023 and 2024, impairment charge of intangible assets excluding goodwill of RMB5,851,000 and RMB2,392,000 has been charged to different functional expenses based on usage of intangible assets by different functional divisions. The impairment charge was charged against development costs for certain intangible assets developed internally, following a decision to reduce the output of certain products in 2023 and 2024. The Group assessed the necessity for goodwill impairment by conducting a thorough analysis of the current economic climate and market conditions in light of (i) the discontinuation of cloud services and its corresponding impact on the business and operations of the Group, (ii) the challenging macroenvironment of the industry that the Group operates in and the Group’s expected growth, and (iii) the recent performance and expected growth of the various businesses of the Group. As at December 31, 2024, the carrying amount of the group of CGUs of Technology Solution segment exceeds its recoverable amount at RMB189,518,000 (Note 15(a)) including a loss attributable to the non-controlling interest’s notional share of goodwill. The Group recognized an impairment loss against goodwill of RMB131,901,000 in other income, gain or loss – net in the consolidated statements of comprehensive income. During the years ended December 31, 2022, 2023 and 2024, the amount of amortization charged to cost of revenue, research and development expenses and general and administrative expenses are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31,
Amortization of intangible assets | ​ | 2022 | ​ | 2023 | ​ | 2024
​ |  | RMB’000 |  | RMB’000 |  | RMB’000
​ | ​ | (Note 12) | ​ | (Note 12) | ​ | ​
Continuing operations | ​ | ​ | ​ | ​ | ​ | ​
Cost of revenue |  | 119,819 | ​ | 84,081 | ​ | 47,028
Research and development expenses |  | 6,282 | ​ | 4,437 | ​ | 232
General and administrative expenses |  | 9,111 | ​ | 3,228 | ​ | 482
​ | ​ | 135,212 | ​ | 91,746 | ​ | 47,742
​ | ​ | ​ | ​ | ​ | ​ | ​
Discontinued operations | ​ | 26,909 | ​ | 34,687 | ​ | 6,255
​ |  | 162,121 | ​ | 126,433 | ​ | 53,997
​
(a) | Impairment tests for goodwill
Goodwill arises from the Group’s acquisitions of Vantage Point Technology on July 31, 2018, BER Technology on June 30, 2019, and View Foundation on August 30, 2019. The goodwill of the Group is attributable to the acquired workforce and synergies expected to be derived from combining with the operations of the Group. During the years ended December 31, 2023 and 2024, the goodwill is regarded as attributable to the group of CGUs of Technology Solutions segment. The Group carries out its impairment testing on goodwill by comparing the recoverable amounts of groups of CGUs to their carrying amounts. The management did the value-in-use calculations to determine the recoverable amounts. Value-in-use is calculated based on discounted cash flows. The discounted cash flows calculations of group of CGUs use cash flow projection developed based on financial budgets approved by management of the Group covering a five-year period, after considering the current and historical business performance, the future business plan and market data. Cash flows beyond the five-year period are extrapolated using the estimated long term growth rates stated below. 15 Intangible assets (Continued)
(a) | Impairment tests for goodwill (Continued)
The significant assumptions used for value-in-use calculations are as follows: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31, | ​
​ |  | 2023 |  | 2024 | ​
​ | ​ | RMB’000 | ​ | RMB’000 | ​
​ |  | ​ | ​ | ​ | ​
Revenue growth rate | ​ | -10%-13 | % | -25%-10 | %
Profit margin | ​ | -2%-14 | % | -2%-8 | %
Long term growth rate |  | 2 | % | 2 | %
Pre-tax discount rate | ​ | 19.73 | % | 21.54 | %
Recoverable amount of the group of CGUs exceeding/(below) its carrying amount (RMB’000) |  | 1,153,821 | ​ | (189,518) | ​
​ The following table sets forth the impact of reasonable possible changes in.absolute value in each of the significant assumptions, with all other variables held constant, of goodwill impairment testing at the dates indicated. ​
​ | ​ | ​ | ​ | ​
Possible changes of significant assumptions | ​ | Recoverable amount of the CGU
​ | ​ | exceeding/(below) its carrying amount(Note)
​ | ​ | Year ended December 31,
​ |  | 2023 |  | 2024
​ |  | RMB’000 |  | RMB’000
​ | ​ | ​ | ​ | ​
Revenue growth rate decrease by 5% |  | 597,067 | ​ | (265,224)
Profit margin decrease by 1% | ​ | 886,786 | ​ | (296,597)
Long term growth rate decrease by 1% |  | 1,039,101 | ​ | (207,564)
Pre-tax discount rate increase by 1% |  | 989,962 | ​ | (230,342)
​ Note: The carrying amount of goodwill included the goodwill attributable to the non-controlling interest.

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