v3.25.4
Financial Assets At Amortized Cost
 12 Months Ended
Dec. 31, 2024
Financial Assets At Amortized Cost [Abstract]  
Financial assets at amortized cost
20.
Financial assets at amortized cost
 
    
December 31,
2022
    
December 31,
2023
    
December 31,
2024
  
    
RMB’000
    
RMB’000
    
RMB’000
  
     (Restated )     (Restated )        
Unlisted securities
       
Debt
i
nvestments
      4,556,956       2,862,260       2,842,631  
  
 
 
    
 
 
    
 
 
  
Interest receivable
      11,811       26,272       33,733  
  
 
 
    
 
 
    
 
 
  
     4,568,767       2,888,532       2,876,364  
  
 
 
    
 
 
    
 
 
  
Less: Provision for impairment losses
      (1,157,683 )      (1,130,449 )      (1,377,364 ) 
  
 
 
    
 
 
    
 
 
  
     3,411,084       1,758,083       1,499,000  
  
 
 
    
 
 
    
 
 
  
Expected credit loss rate
      25.34 %      39.14 %      47.89 % 
  
 
 
    
 
 
    
 
 
  
 
(a)
As of December 31, 2022, 2023 and 2024, the principal amount of financial assets at amortized cost amounting to RMB1,400 million, RMB1,347 million and RMB1,344 
million were past due, with carrying amounts of RMB259 million, RMB241 million and nil, respectively. An impairment loss of RMB
539 
million, an impairment reversal of RMB
18 million and an impairment loss
 of
RMB247 
million were recognized for the years ended December 31, 2022, 2023 and 2024 based on the discounted future recoverable amount estimated at the year end, respectively. 
 
(b)
The following table sets forth the movement of gross carrying amount of financial assets at amortized cost for the year ended December 31, 2022:
 
Year ended December 31, 2022
  
Stage 1
 
  
Stage 2
 
  
Stage 3
 
  
Total
 
 
  
RMB’000
 
  
RMB’000
 
  
RMB’000
 
  
RMB’000
 
As of January 1, 2022 (Restated)
   
 
2,600,784
 
   
 
— 
 
   
 
1,081,408
 
   
 
3,682,192
 
New financial assets originated or purchased
      3,505,592        —         —         3,505,592  
Transfer
      (363,927 )       —         363,927        —   
—From stage 1 to stage 2
      (363,927 )       363,927        —         —   
—From stage 2 to stage 3
      —         (363,927 )       363,927        —   
Write-offs
      —         —         (38,858 )       (38,858 ) 
Financial assets derecognized and other adjustments in the current period (including repayments of financial assets)
      (2,580,155 )      —         (4 )      (2,580,159 ) 
  
 
 
     
 
 
     
 
 
     
 
 
  
As of December 31, 2022 (Restated)
   
 
3,162,294
 
   
 
— 
 
   
 
1,406,473
 
   
 
4,568,767
 
  
 
 
     
 
 
     
 
 
     
 
 
  
 
 
(c)
The following table sets forth the movement of ECL allowance for the year ended December 31, 2022:
 
Year ended December 31, 2022
  
Stage 1
 
  
Stage 2
 
  
Stage 3
 
  
Total
 
 
  
RMB’000
 
  
RMB’000
 
  
RMB’000
 
  
RMB’000
 
As of January 1, 2022 (Restated)
   
 
10,608
 
   
 
— 
 
   
 
646,966
 
   
 
657,574
 
New financial assets originated or purchased
      1,548        —         —         1,548  
Transfer
      (3,622 )       —         236,007        232,385  
—From stage 1 to stage 2
      (3,622 )       3,622        —         —   
—From stage 2 to stage 3
      —         (63,386 )       63,386        —   
—
Net impact on expected credit loss by stage transfer
      —         59,764        172,621        232,385  
Write-offs
      —         —         (38,858 )       (38,858 ) 
Financial assets derecognized and other adjustments in the current period (including repayments of financial assets)
      (5,395 )      —         —         (5,395 ) 
Change in parameters of expected credit loss model
      7,268        —         303,161        310,429  
  
 
 
     
 
 
     
 
 
     
 
 
  
As of December 31, 2022 (Restated)
   
 
10,407
 
   
 
— 
 
   
 
1,147,276
 
   
 
1,157,683
 
  
 
 
     
 
 
     
 
 
     
 
 
  
 
(d)
The following table sets forth the movement of gross carrying amount of financial assets at amortized cost for the year ended December 31, 2023:
 
Year ended December 31, 2023
  
Stage 1
 
  
Stage 2
 
  
Stage 3
 
  
Total
 
 
  
RMB’000
 
  
RMB’000
 
  
RMB’000
 
  
RMB’000
 
As of January 1, 2023 (Restated)
   
 
3,162,294
 
   
 
— 
 
   
 
1,406,473
 
   
 
4,568,767
 
Financial assets derecognized and other adjustments in the current period (including repayments of financial assets)
      (1,644,147 )
 
      —         (36,088 )
 
      (1,680,235 ) 
  
 
 
     
 
 
     
 
 
     
 
 
  
As of December 31, 2023 (Restated)
   
 
1,518,147
 
   
 
— 
 
   
 
1,370,385
 
   
 
2,888,532
 
  
 
 
     
 
 
     
 
 
     
 
 
  
 
(e)
The following table sets forth the movement of ECL allowance for the year ended December 31, 2023:
 
Year ended December 31, 2023
  
Stage 1
 
  
Stage 2
 
  
Stage 3
 
  
Total
 
 
  
RMB’000
 
  
RMB’000
 
  
RMB’000
 
  
RMB’000
 
As of January 1, 2023 (Restated)
   
 
10,407
 
   
 
— 
 
   
 
1,147,276
 
   
 
1,157,683
 
Financial assets derecognized and other adjustments in the current period (including repayments of financial assets)
      (27,179 )
 
      —         (53,097 )
 
      (80,276 ) 
Change in parameters of expected credit loss model
      17,784        —         35,258        53,042  
  
 
 
     
 
 
     
 
 
     
 
 
  
As of December 31, 2023 (Restated)
   
 
1,012
 
   
 
— 
 
   
 
1,129,437
 
   
 
1,130,449
 
  
 
 
     
 
 
     
 
 
     
 
 
  
 
 
(f)
The following table sets forth the movement of gross carrying amount of financial assets at amortized cost for the year ended December 31, 2024:
 
Year ended December 31, 2024
  
Stage 1
 
  
Stage 2
 
  
Stage 3
 
  
Total
 
 
  
RMB’000
 
  
RMB’000
 
  
RMB’000
 
  
RMB’000
 
As of January 1, 2024 (Restated)
   
 
1,518,147
 
   
 
— 
 
   
 
1,370,385
 
   
 
2,888,532
 
Financial assets derecognized and other adjustments in the current period (including repayments of financial assets)
      (18,369 )
 
      —         6,201        (12,168 ) 
  
 
 
     
 
 
     
 
 
     
 
 
  
As of December 31, 2024
   
 
1,499,778
 
   
 
— 
 
   
 
1,376,586
 
   
 
2,876,364
 
  
 
 
     
 
 
     
 
 
     
 
 
  
 
(g)
The following table sets forth the movement of ECL allowance for the year ended December 31, 2024:
 
Year ended December 31, 2024
  
Stage 1
 
  
Stage 2
 
  
Stage 3
 
  
Total
 
 
  
RMB’000
 
  
RMB’000
 
  
RMB’000
 
  
RMB’000
 
As of January 1, 2024 (Restated)
   
 
1,012
 
   
 
— 
 
   
 
1,129,437
 
   
 
1,130,449
 
Change in parameters of expected credit loss model
      (234 )
 
      —         247,149        246,915  
  
 
 
     
 
 
     
 
 
     
 
 
  
As of December 31, 2024
   
 
778
 
   
 
— 
 
   
 
1,376,586
 
   
 
1,377,364