Parent company only condensed financial information

12 Months Ended

Dec. 31, 2024

Parent company only condensed financial information

Parent company only condensed financial information

41 Parent company only condensed financial information

Parent Company only financial statements have been provided pursuant to the requirements of Securities and Exchange Commission Regulation S-X Rule 12-04(a), which require condensed financial information as to financial position, cash flows and results of operations of a parent company as of the same dates and for the same periods for which audited consolidated financial statements have been presented, as the restricted net assets of the Company’s consolidated subsidiaries, including VIEs, as of December 31, 2024 exceeded the 25% threshold, using the same accounting policies as set out in the Group’s consolidated financial statements, except that the Company uses the equity method to account for investments in its subsidiaries and VIEs. Certain information and footnote disclosures generally included in financial statements prepared in accordance with IFRSs have been condensed and omitted. The footnote disclosures contain supplemental information relating to the operations of the Company, as such, these statements are not the general-purpose financial statements of the reporting entity and should be read in conjunction with the notes to the consolidated financial statements of the Company.

The Company did not have significant capital and other commitments or guarantees as at December 31, 2024. The subsidiaries did not pay any dividend to the Company for the years presented.

41 Parent company only condensed financial information (Continued)

(a)

Condensed Statements of Comprehensive Income


	Year ended December 31,
	2022	2023	2024
	RMB’000	RMB’000	RMB’000
Selling and marketing expenses	(387)	(90)	(92)
General and administrative expenses	(104,653)	(32,965)	(23,419)
Net impairment losses on amount due from subsidiaries	(465,457)	(281,288)	(555,517)
Other income, gains or loss‑net	2,555	(457)	—
Operating loss	(567,942)	(314,800)	(579,028)
Finance (costs)/income – net	(573)	196	412
Gain on disposal of subsidiaries	—	—	260,137
Share of losses of subsidiaries and VIEs	(303,759)	(48,111)	(141,198)
Loss before income tax	(872,274)	(362,715)	(459,677)
Income tax expenses	—	—	—
Loss for the year	(872,274)	(362,715)	(459,677)
Other comprehensive income/(loss), net of tax
Items that may be subsequently reclassified to profit or loss
– Foreign currency translation differences	69,454	3,880	27,655
– Changes in the fair value of debt instruments measured at fair value through other comprehensive income	5,324	500	(5,887)
Items that will not be subsequently reclassified to profit or loss
– Foreign currency translation differences	356,691	22,336	31,636
– Changes in the fair value of equity instruments measured at fair value through other comprehensive income	—	—	(3,204)
Other comprehensive income	431,469	26,716	50,200
Total comprehensive loss	(440,805)	(335,999)	(409,477)

41 Parent company only condensed financial information (Continued)

(b)

Condensed Balance Sheets


		As at December 31,
		2023	2024
	Note	RMB’000	RMB’000
ASSETS
Non-current assets
Interest in subsidiaries	41(d)	2,181,554	1,492,100
Total non-current assets		2,181,554	1,492,100

Current assets
Amount due from subsidiaries	41(d)	803,173	1,075,885
Prepayments and other receivables		435	1,059
Cash and cash equivalents		3,267	6,706
Total current assets		806,875	1,083,650
Total assets		2,988,429	2,575,750

EQUITY AND LIABILITIES
Equity
Share capital	26	78	78
Shares held for share incentive scheme	28	(149,544)	(149,544)
Reserves	27	10,989,851	11,041,209
Accumulated loss		(7,873,614)	(8,333,291)
Total equity		2,966,771	2,558,452

Liabilities
Current liabilities
Trade and other payables		21,658	17,298
Total current liabilities		21,658	17,298
Total liabilities		21,658	17,298
Total equity and liabilities		2,988,429	2,575,750

41	Parent company only condensed financial information (Continued)

(c)

Condensed Statements of Cash Flows


	Year ended December 31,
	2022	2023	2024
	RMB’000	RMB’000	RMB’000
Cash flows from operating activities
Cash used in operations	(139,011)	(44,284)	(31,326)
Net cash used in operating activities	(139,011)	(44,284)	(31,326)
Cash flows from investing activities
Payments for interest in subsidiaries, net of cash acquired	(3,005,546)	(1,117,823)	—
Proceeds from disposal of subsidiaries	—	—	839,087
Proceeds/(Payments) from loan to subsidiaries	3,218,655	1,157,947	(804,360)
Net cash generated from investing activities	213,109	40,124	34,727

Cash flows from financing activities
Proceeds from exercise of shares under share incentive scheme	1,161	—	—
Payments for shares repurchase	(74,992)	—	—
Net cash used in financing activities	(73,831)	—	—
Net increase /(decrease) in cash and cash equivalents	267	(4,160)	3,401
Cash and cash equivalents at the beginning of the year	6,454	7,327	3,267
Effects of exchange rate changes on cash and cash equivalents	606	100	38
Cash and cash equivalents at the end of year	7,327	3,267	6,706

(d)

Interest in subsidiaries and amount due from subsidiaries


	As at December 31,
	2023	2024
	RMB’000	RMB’000
Interest in subsidiaries
Equity investment in subsidiaries	2,181,554	1,492,100


	As at December 31,
	2023	2024
	RMB’000	RMB’000
Amount due from subsidiaries
Loan receivables	803,173	1,075,885