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Related party transactions (Tables)

12 Months Ended

Dec. 31, 2024

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, 2022, 2023 and 2024.

​

​	​		​		​
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 Limited (“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 (ii)	​	Controlled by Ping An Group			​
Open Portal Guangxi (Note 16(b))	​	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.

(ii) Lufax became a subsidiary of Ping An Group on July 30, 2024 with its financial results consolidated into Ping An Group’s financial statements. As a result, Lufax has become a related party of the Group since July 30, 2024.

Schedule of key management personnel compensations

​

​	​	​	​	​	​	​
​	​	For the year ended December 31,
​	​	2022	​	2023	​	2024
​		RMB’000		RMB’000		RMB’000
​	​	​	​	​	​	​
Wages and salaries		21,123		20,806		22,353
Welfare and other benefits		614		654		1,147
Share-based payments		8,401		4,909		1,956
​		30,138		26,369		25,456

Schedule of significant transactions and year end balances with related parties

(c) Significant transactions with related parties

​

​	​	​	​	​	​	​
​	​	For the year ended
​	​	December 31,
​		2022		2023		2024
​	​	RMB’000	​	RMB’000	​	RMB’000
Revenue
Ping An Group and its subsidiaries		2,526,682	​	2,091,039	​	1,191,015

​

​	​	​	​	​	​	​
​		For the year ended December 31,
​	​	2022	​	2023	​	2024
​	​	RMB’000	​	RMB’000	​	RMB’000
Purchase of services
Ping An Group and its subsidiaries		1,706,436		1,423,367		789,275
​	​	​	​	​	​	​
Net (loss)/gain on disposal of property and equipment	​	​	​	​	​	​
Ping An Group and its subsidiaries	​	(599)	​	(1,359)	​	2,382
​	​	​	​	​	​	​
Net gain from wealth management products consolidated by related parties		​		​		​
Ping An Group and its subsidiaries		18,890		12,996		8,841
​	​	​	​	​	​	​
Net gain on derivatives		​		​		​
Ping An Group and its subsidiaries		262,769		30,592		25,054
​		​		​		​
Investment income from loan to related party	​	​	​	​	​	​
Open Portal Guangxi	​	283	​	—	​	—
​	​	​	​	​	​	​
Interest income on bank deposits		​		​		​
Ping An Group and its subsidiaries		9,234		17,637		15,050
​	​	​	​	​	​	​
Leasing payment		​		​		​
Ping An Group and its subsidiaries		20,957		12,131		18,970
​	​	​	​	​	​	​
Interest expenses		​		​		​
Ping An Group and its subsidiaries		2,672		—		—
​	​	​	​	​	​	​
Net gain on financial assets measured at fair value through other comprehensive income	​	​	​	​	​	​
Ping An Group and its subsidiaries		315		—		—

(d) Year end balances with related parties

​

​	​	​	​	​
​	​	As at December 31,
​		2023		2024
​	​	RMB’000	​	RMB’000
Trade receivables	​		​
Ping An Group and its subsidiaries (i)	​	299,098		179,019
​	​	​	​	​
Contract assets	​	​		​
Ping An Group and its subsidiaries	​	7,538		11,582
​	​	​	​	​
Prepayment and other receivables	​	​		​
Ping An Group and its subsidiaries	​	599,671		114,778
​	​	​	​	​
Financial assets at fair value through profit or loss	​
Ping An Group and its subsidiaries	​	417,956		230,724
​	​	​	​	​
Cash and restricted cash and time deposits over three months	​
Ping An Group and its subsidiaries	​	784,840		192,604
​	​	​	​	​
Trade and other payables	​
Ping An Group and its subsidiaries (i)	​	864,038		242,320
​	​	​	​	​
Contract liabilities	​	​	​	​
Ping An Group and its subsidiaries	​	25,550	​	13,271
​	​	​	​	​
Derivative financial assets	​
Ping An Group and its subsidiaries	​	38,008		39,812

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

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