Loans To Customers

12 Months Ended

Dec. 31, 2024

Disclosure Of Loans to Customers [Abstract]

22.	Loans to customers


	December 31,			December 31,			December 31,
	2022			2023			2024
	RMB’000			RMB’000			RMB’000
	(Restated)			(Restated)
Loans originated by consolidated trust plans		186,329,064			98,194,028			61,447,339
Loans originated by financial institutions		30,177,633			37,616,889			57,507,164

		216,506,697			135,810,917			118,954,503
Interest receivable		2,002,926			1,156,870			1,097,686
Less: Provision for impairment losses		(7,062,978	)		(7,273,833	)		(8,543,520	)
Stage 1		(4,481,912	)		(4,433,965	)		(5,740,230	)
Stage 2		(1,197,126	)		(1,152,069	)		(1,084,589	)
Stage 3		(1,383,940	)		(1,687,799	)		(1,718,701	)

		211,446,645			129,693,954			111,508,669

Expected credit loss rate		3.23	%		5.31	%		7.12	%

(a)

As of December 31, 2022, 2023 and 2024, loans amounting to RMB142,966 million, RMB62,417 million and RMB23,462

million, respectively, were covered by credit enhancement provided by credit enhancement providers. Of these amounts, loans amounting to RMB130,122 million, RMB53,444 million and RMB12,852 million as of December 31, 2022, 2023 and 2024 respectively, w

ere

covered by credit insurance provided by a subsidiary of Ping An Group. Credit enhancement providers independently underwrite the borrowers and enter into the credit enhancement agreements either in the form of credit insurance or financing guarantees directly with the borrowers. The beneficiaries of such credit enhancement are the institutional funding partners who provide funding to the borrowers.

(b)	For the years ended December 31, 2022, 2023 and 2024, the amounts of concession provided to customers were not material.

(c)	The following table sets forth the movement of gross carrying amount of loans to customers 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
	(Restated)			(Restated)			(Restated)			(Restated)
As of January 1, 2022		215,525,406			1,576,245			624,330			217,725,981
New loans originated		215,854,353			—			—			215,854,353
Transfers
— From stage 1 to stage 2		(17,463,339	)		17,463,339			—			—
— From stage 2 to stage 1		294,780			(294,780	)		—			—
— From stage 2 to stage 3		—			(3,969,255	)		3,969,255			—
— From stage 3 to stage 2		—			9,853			(9,853	)		—
Loans derecognized and other adjustments in the current period (including repayments of loans)		(201,120,112	)		(10,824,690	)		(112,687	)		(212,057,489	)
Write-offs		—			—			(3,013,222	)		(3,013,222	)

As of December 31, 2022		213,091,088			3,960,712			1,457,823			218,509,623

(d)	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
	(Restated)			(Restated)			(Restated)			(Restated)
As of January 1, 2022		1,860,245			312,280			581,346			2,753,871
New loans originated		1,463,129			—			—			1,463,129
Transfers
— From stage 1 to stage 2		(3,633,495	)		3,633,495			—			—
— From stage 2 to stage 1		53,590			(53,590	)		—			—
— From stage 2 to stage 3		—			(3,522,533	)		3,522,533			—
— From stage 3 to stage 2		—			9,329			(9,329	)		—
Loans derecognized and other adjustments in the current period (including repayments of loans)		(1,058,072	)		(319,848	)		(250,409	)		(1,628,329	)
Remeasurements		5,796,515			1,137,993			406,081			7,340,589
Write-offs		—			—			(3,013,222	)		(3,013,222	)
Recovery of loans written off previously		—			—			146,940			146,940

As of December 31, 2022		4,481,912			1,197,126			1,383,940			7,062,978

(e)	The following table sets forth the movement of gross carrying amount of loans to customers 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
	(Restated)			(Restated)			(Restated)			(Restated)
As of January 1, 2023		213,091,088			3,960,712			1,457,823			218,509,623
New loans originated		126,598,504			—			—			126,598,504
Transfers
— From stage 1 to stage 2		(21,110,727	)		21,110,727			—			—
— From stage 2 to stage 1		742,373			(742,373	)		—			—
— From stage 2 to stage 3		—			(7,097,203	)		7,097,203			—
— From stage 3 to stage 2		—			7,586			(7,586	)		—
Loans derecognized and other adjustments in the current period (including repayments of loans)		(186,954,113	)		(14,425,652	)		(188,709	)		(201,568,474	)
Write-offs		—			—			(6,571,866	)		(6,571,866	)

As of December 31, 2023		132,367,125			2,813,797			1,786,865			136,967,787

(f)	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
	(Restated)			(Restated)			(Restated)			(Restated)
As of January 1, 2023		4,481,912			1,197,126			1,383,940			7,062,978
New loans originated		1,929,629			—			—			1,929,629
Transfers
— From stage 1 to stage 2		(6,016,218	)		6,016,218			—			—
— From stage 2 to stage 1		166,232			(166,232	)		—			—
— From stage 2 to stage 3		—			(6,209,153	)		6,209,153			—
— From stage 3 to stage 2		—			7,070			(7,070	)		—
Loans derecognized and other adjustments in the current period (including repayments of loans)		(2,277,971	)		(400,954	)		(184,192	)		(2,863,117	)
Remeasurements		6,150,381			707,994			648,703			7,507,078
Write-offs		—			—			(6,571,866	)		(6,571,866	)
Recovery of loans written off previously		—			—			209,131			209,131

As of December 31, 2023		4,433,965			1,152,069			1,687,799			7,273,833

(g)	The following table sets forth the movement of gross carrying amount of loans to customers 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		132,367,125			2,813,797			1,786,865			136,967,787
New loans originated		149,102,654			—			—			149,102,654
Acquisition of subsidiaries		2,031,369			25,778			90,365			2,147,512
Transfers
— From stage 1 to stage 2		(12,773,218	)		12,773,218			—			—
— From stage 2 to stage 1		440,404			(440,404	)		—			—
— From stage 2 to stage 3		—			(6,680,981	)		6,680,981			—
— From stage 3 to stage 2		—			29,245			(29,245	)		—
Loans derecognized and other adjustments in the current period (including repayments of loans)		(155,003,034	)		(6,770,877	)		(145,309	)		(161,919,220	)
Write-offs		—			—			(6,246,544	)		(6,246,544	)

As of December 31, 2024		116,165,300			1,749,776			2,137,113			120,052,189

(h)	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		4,433,965			1,152,069			1,687,799			7,273,833
New loans originated		3,441,606			—			—			3,441,606
Acquisition of subsidiaries		10,178			166			10,435			20,779
Transfers
— From stage 1 to stage 2		(5,254,705	)		5,254,705			—			—
— From stage 2 to stage 1		159,936			(159,936	)		—			—
— From stage 2 to stage 3		—			(5,486,549	)		5,486,549			—
— From stage 3 to stage 2		—			27,226			(27,226	)		—
Loans derecognized and other adjustments in the current period (including repayments of loans)		(3,217,060	)		(355,499	)		(193,845	)		(3,766,404	)
Remeasurements		6,166,310			652,407			675,702			7,494,419
Write-offs		—			—			(6,246,544	)		(6,246,544	)
Recovery of loans written off previously		—			—			325,831			325,831

As of December 31, 2024		5,740,230			1,084,589			1,718,701			8,543,520

(i)	As of December 31, 2022, 2023 and 2024, the proportion of loans and advances issued by the Group to customers conducted in the PRC was 100%, 100% and 97%, respectively.