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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Taxes |
Schedule of composition of income tax expenses | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
​ |  | 2022 |  | 2023 |  | 2024
​ |  | RMB’000 |  | RMB’000 | ​ | RMB’000
Current income tax expense/(credit) | ​ | 361 | ​ | (42) | ​ | 64
Deferred taxation |  | — | ​ | — | ​ | —
Total |  | 361 | ​ | (42) | ​ | 64
Schedule of reconciliation of the differences between statutory income tax rate and the effective income tax rate | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended December 31,
​ |  | 2022 |  | 2023 |  | 2024
​ |  | % |  | % | ​ | %
Statutory EIT rate | ​ | 25.00 | ​ | 25.00 | ​ | 25.00
Effect of non-deductible expenses/(gain) (1) |  | 16.97 |  | (1.87) | ​ | (0.18)
Tax incentives for research and development expense (2) |  | (49.14) |  | 11.32 | ​ | 2.23
Tax incentives for wages of disabled staff |  | (0.16) |  | 0.05 | ​ | 0.02
Preferential tax rate | ​ | (4.20) | ​ | 0.62 | ​ | 0.19
Change in valuation allowance |  | 2.52 |  | (33.14) | ​ | (26.59)
Tax rate difference from statutory rate in other jurisdictions |  | 10.44 |  | (1.93) | ​ | (0.72)
Effective income tax rate |  | 1.43 |  | 0.05 | ​ | (0.05)
(1) | Primarily comprised of share-based compensation expenses/(gain) which are permanent differences.
(2) | According to policies promulgated by the State Tax Bureau of the PRC, certain of the Group’s subsidiaries are entitled to tax incentives for research and development expenses at 175% of tax-deductible research and development expenses in 2021 and January 1, 2022 to September 30, 2022. Under Chinese mainland regulations issued in September 2022 that were applicable from October 1, 2022 to December 31, 2024, certain of the Group’s subsidiaries are entitled to tax incentives for research and development expenses at 200% of tax-deductible research and development expenses.
Schedule of composition of deferred tax assets | ​
​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | December 31,
​ |  | 2023 |  | 2024
​ | ​ | RMB’000 | ​ | RMB’000
Deferred tax assets - non‑current: | ​ | ​ | ​ | ​
—Net operating tax losses carry forwards |  | 69,061 |  | 67,468
—Allowances of doubtful accounts |  | 11,656 |  | 16,108
— Investment loss | ​ | 1,747 | ​ | 7,263
—Others | ​ | — | ​ | 2,550
Total deferred tax assets |  | 82,464 |  | 93,389
Less: valuation allowance |  | (79,533) |  | (93,237)
Total deferred tax assets, net |  | 2,931 |  | 152
​ | ​ | ​ | ​ | ​
Deferred tax liabilities - non‑current: | ​ | ​ | ​ | ​
— Unrealized investment gain | ​ | (2,931) | ​ | (152)
Total deferred tax liabilities | ​ | (2,931) | ​ | (152)

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