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Fair value of financial assets and liabilities

12 Months Ended

Dec. 31, 2018

Fair Value Of Financial Assets And Liabilities

9. Fair value of financial assets and liabilities

The Group’s financial instruments consist of non-derivative financial assets and liabilities. The fair value of these non-derivative financial instruments is determined using internally generated valuation models, which are usually developed from generally accepted valuation models. The majority of the significant inputs into these models may not be observable in the market, and may be derived from interest rates based on assumptions. The selection of the appropriate valuation model, as well as the determination of key inputs used such as the expected future cash flows on the financial instrument, the probability of counterparty default and the appropriate discount rate to be used, require management judgment and estimation.

	As of December 31, 2018
	Fair value		Carrying amount
	RMB’000		RMB’000

Financial assets
Cash and cash equivalents		3,188		3,188
Loan receivables		578,063		579,654
		582,842		582,842
Financial liabilities
Loans payable		203,837		200,417

	As of December 31, 2017
	Fair value		Carrying Amount restated
	RMB’000		RMB’000

Financial assets
Cash and cash equivalents		21,717		21,717
Loan receivables		826,036		791,390
		847,753		813,107

Financial liabilities
Loans payable		231,810		226,370