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Management of financial risk (Tables) | 12 Months Ended
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Dec. 31, 2024
Management of financial risk |
Schedule of tabular disclosure of contract asset and trade receivable | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31, 2023
​ |  | RMB’000 |  | RMB’000 |  | RMB’000
​ |  | Trade |  | Contract |  | ​
​ |  | receivables |  | assets | ​ | Total
Gross carrying amount |  |  |  |  |  |
Applying simplified approach |  | 779,458 |  | 153,204 |  | 932,662
​ | ​ | ​ | ​ | ​ | ​ | ​
Loss allowance |  |  |  |  |  |
Applying simplified approach |  | 68,789 |  | 57,379 |  | 126,168
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31, 2024
​ |  | RMB’000 |  | RMB’000 |  | RMB’000
​ |  | Trade |  | Contract |  | ​
​ |  | receivables |  | assets | ​ | Total
Gross carrying amount |  |  |  |  |  |
Applying simplified approach |  | 582,068 |  | 125,842 |  | 707,910
​ | ​ | ​ | ​ | ​ | ​ | ​
Loss allowance |  | ​ |  | ​ |  | ​
Applying simplified approach |  | 75,533 | ​ | 62,422 |  | 137,955
Schedule of impairment loss allowance | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31, 2023 |
​ |  | Related |  | Up to |  | 1 year to |  | 2 year to |  | Above |  | ​ |
​ | ​ | parties | ​ | 1 year | ​ | 2 year | ​ | 3 year | ​ | 3 years | ​ | Total |
Expected loss rate | ​ | 2.13 | % | 4.56 | % | 41.29 | % | 77.39 | % | 94.34 | % | 13.53 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gross carrying amount of trade receivables and contract assets applying simplified approach |  | 306,636 |  | 476,215 |  | 72,327 | ​ | 29,615 | ​ | 47,869 | ​ | 932,662 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loss allowance of trade receivables and contract assets applying simplified approach |  | 6,528 |  | 21,698 |  | 29,863 | ​ | 22,920 | ​ | 45,159 | ​ | 126,168 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31, 2024 |
​ | ​ | Related | ​ | Up to | ​ | 1 year to | ​ | 2 year to | ​ | Above | ​ | ​ |
​ |  | parties |  | 1 year |  | 2 year |  | 3 year |  | 3 years |  | Total |
Expected loss rate |  | 6.11 | % | 8.24 | % | 44.26 | % | 62.58 | % | 98.89 | % | 19.49 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gross carrying amount of trade receivables and contract assets applying simplified approach |  | 190,601 |  | 384,954 |  | 49,545 | ​ | 25,383 | ​ | 57,427 | ​ | 707,910 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loss allowance of trade receivables and contract assets applying simplified approach |  | 11,638 |  | 31,714 |  | 21,930 | ​ | 15,884 | ​ | 56,789 | ​ | 137,955 | ​
Schedule of undiscounted contractual cash flows | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31, 2023
​ |  | Within 1 year |  | 1 to 5 years |  | Total
​ | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000
​ | ​ | ​ | ​ | ​ | ​ | ​
Short‑term borrowings |  | 257,007 | ​ | — | ​ | 257,007
Trade and other payables |  | 1,292,054 | ​ | 30,143 | ​ | 1,322,197
- Including: lease liabilities | ​ | 24,829 | ​ | 30,143 | ​ | 54,972
Other financial liabilities from virtual bank | ​ | 54,373 | ​ | — | ​ | 54,373
Customer deposits |  | 2,269,261 | ​ | — | ​ | 2,269,261
Non‑derivative financial liabilities | ​ | 3,872,695 | ​ | 30,143 | ​ | 3,902,838
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31, 2024
​ |  | Within 1 year |  | 1 to 5 years |  | Total
​ | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000
​ | ​ | ​ | ​ | ​ | ​ | ​
Short‑term borrowings |  | 19,160 | ​ | — | ​ | 19,160
Trade and other payables |  | 685,112 | ​ | 11,351 | ​ | 696,463
- Including: lease liabilities | ​ | 19,009 | ​ | 11,351 | ​ | 30,360
Non‑derivative financial liabilities |  | 704,272 | ​ | 11,351 | ​ | 715,623
Schedule of fair value measurement hierarchy of the Group's financial assets and liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31, 2023
​ |  | 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 23) |  | — |  | 925,204 |  | — |  | 925,204
Financial assets measured at fair value through other comprehensive income (Note 18) |  | 319,949 |  | — |  | 1,906,189 |  | 2,226,138
Derivative financial assets (Note 33) | ​ | — | ​ | 38,008 | ​ | — | ​ | 38,008
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31, 2024
​ |  | 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 23) |  | — | ​ | 455,016 | ​ | — | ​ | 455,016
Derivative financial assets (Note 33) | ​ | — | ​ | 40,356 | ​ | — | ​ | 40,356
Schedule of movements of Level 3 financial instruments measured at fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended
​ | ​ | December 31,
​ |  | 2022 |  | 2023 |  | 2024
​ | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000
Beginning of the year |  | 1,107,340 | ​ | 1,611,606 | ​ | 1,906,189
Additions, net |  | 506,620 | ​ | 295,287 | ​ | 238,911
(Loss)/gain recognized in other comprehensive income | ​ | (1,678) | ​ | (789) | ​ | 2,918
(Loss)/gain recognized in profit or loss | ​ | (676) | ​ | 85 | ​ | (10,881)
Disposal of subsidiaries (Note 12) | ​ | — | ​ | — | ​ | (2,137,137)
End of the year |  | 1,611,606 | ​ | 1,906,189 | ​ | —
Schedule of valuation inputs and relationships to fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Unobservable | ​ | Range of inputs
​ |  | inputs |  | 2023 |  | 2024
​ | ​ | ​ | ​ | ​ | ​ | ​
Financial assets measured at fair value through other comprehensive income |  |  |  |  |  |
-Loans and advances to customers from virtual bank |  |  |  |  |  |
​ |  | Discount rate |  | 7.09% - 10.29 | % | *
​ |  | Prepayment ratio |  | 0.36 | % | *
*2024 information not presented as the virtual bank was disposed of as described in Note 12. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Impact on the assets and
​ | ​ | Unobservable | ​ | other comprehensive
​ | ​ | inputs | ​ | income
​ |  | ​ |  | 2023 |  | 2024
​ | ​ | ​ | ​ | ​ | ​ | ​
-Loans and advances to customers from virtual bank |  |  |  |  |  |
Discount rate |  | +5 | % | (8,845) |  | *
​ |  | -5 | % | 8,926 |  | *
Prepayment ratio |  | +5 | % | (315) |  | *
​ |  | -5 | % | 315 |  | *
*2024 information not presented as the virtual bank was disposed of as described in Note 12.
Currency risk |
Management of financial risk |
Schedule of sensitivity analysis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | At December 31,
​ | ​ | 2022 |  | 2023 |  | 2024
​ | ​ | Impact on post-tax profit
​ | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000
USD+5% |  | 1,752 | ​ | (16,596) |  | (14,099)
USD -5% |  | (1,752) | ​ | 16,596 |  | 14,099
Interest rate risk |
Management of financial risk |
Schedule of sensitivity analysis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As at December 31, 2023
RMB million |  | HKD |  | USD |  | RMB
​ | ​ | ​ | ​ | ​ | ​ | ​
Impact on earnings over the next 12 months if interest rates rise by 200 basis points |  | (15) |  | 3 |  | —
Impact on economic value if interest rates rise by 200 basis points |  | (43) |  | (3) |  | —
​
Trade receivable and contract asset |
Management of financial risk |
Schedule of movements in the impairment loss allowance | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
​ |  | 2022 |  | 2023 |  | 2024
​ | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000
Beginning of the year |  | (125,318) | ​ | (116,899) |  | (126,168)
Additions of impairment loss, net | ​ | (18,715) | ​ | (42,101) | ​ | (30,214)
Recovery of amounts written off previously | ​ | (9,980) | ​ | — | ​ | —
Write-off |  | 37,156 | ​ | 33,401 |  | 18,562
Exchange difference | ​ | (42) | ​ | (569) | ​ | (135)
End of the year |  | (116,899) | ​ | (126,168) |  | (137,955)
Credit risk exposure of other receivables is mainly from financial guarantee fee receivables | ​
​ | ​ | ​ | ​ | ​
​ | ​ | As at December 31,
​ |  | 2023 |  | 2024
​ | ​ | RMB’000 | ​ | RMB’000
Gross carrying amount |  | ​ |  | ​
​ | ​ | ​ | ​ | ​
Financial assets measured at amortized cost |  | 3,142 |  | *
Financial assets measured at fair value through other comprehensive income |  | 1,902,985 |  | *
​ |  | 1,906,127 |  | *
​ | ​ | ​ | ​ | ​
Expected credit loss provision |  | 61 |  | *
​ |  | ​ |  | ​
Expected loss rate |  | 1.94 | % | *
*2024 information not presented as the virtual bank was disposed of as described in Note 12.
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,
​ |  | 2022 |  | 2023 |  | 2024
​ | ​ | RMB’000 | ​ | RMB’000 | ​ | RMB’000
Beginning of the year | ​ | (190) |  | — |  | (61)
Reversals/(additions) of impairment loss | ​ | 190 | ​ | (61) | ​ | 15
Disposal of subsidiaries | ​ | — | ​ | — | ​ | 46
End of the year | ​ | — |  | (61) |  | —
Loans and advances to customers. |
Management of financial risk |
Schedule of movements in the impairment loss allowance | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the year ended December 31,
​ | ​ | 2022 |  | 2023 |  | 2024
​ |  | RMB’000 | ​ | RMB’000 | ​ | RMB’000
Beginning of the year |  | (1,962) |  | (11,528) |  | (12,061)
Additions of impairment loss |  | (10,616) |  | (13,344) |  | (10,863)
Write-off |  | 1,050 |  | 12,811 |  | 2,222
Disposal of subsidiaries | ​ | — | ​ | — | ​ | 20,702
End of the year |  | (11,528) | ​ | (12,061) | ​ | —

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