Notes to Consolidated Statements of Cash flows

12 Months Ended

Dec. 31, 2024

45.	Note s to consolidated statements of cash flows

(a)	Reconciliation from profit before income tax expenses to cash generated from operating activities:


	For the year ended December 31,
	2022			2023			2024
	RMB’000			RMB’000			RMB’000
	(Restated)			(Restated)
Profit/(loss) before income tax		12,045,862			1,588,465			(2,078,685	)
Adjustments for:
Depreciation of property and equipment		181,601			185,222			104,439
Depreciation of right-of-use assets		591,201			427,358			283,645
Amortization of intangible assets		15,325			11,022			39,766
Share of losses of associates and joint ventures		218			5,416			691
Net gains on sales of property and equipment, and intangible assets		24,832			21,994			84,666
Net unrealized losses on financial assets at fair value through profit or loss		132,875			525,003			1,583,149
Non-cash employee benefits expense-share based payment		45,162			(36,204	)		(18,119	)
Asset impairment losses		427,108			31,246			—
Credit impairment losses		11,917,933			5,596,942			7,638,072
Finance cost classified as financing activities		2,481,059			1,764,472			1,114,753
Investment income classified as investing activities		(645,693	)		(604,979	)		(537,329	)
Foreign exchange losses/(gains)		877,232			(75,714	)		190,800

		28,094,715			9,440,243			8,405,848

Change in operating assets and liabilities, net of effects from purchase of controlled entity:
Decrease in loans to customers and accounts and other receivables		6,326,843			103,902,273			17,856,581
Decrease in accounts and other payables		(19,173,561	)		(97,868,864	)		(22,107,429	)

		15,247,997			15,473,652			4,155,000

(b)	Net increase in cash and cash equivalents


	For the year ended December 31,
	2022			2023			2024
	RMB’000			RMB’000			RMB’000
	(Restated)			(Restated)
Cash and cash equivalents at the end of the year		29,594,654			18,577,225			11,798,435
Less: Cash and cash equivalents at the beginning of the year		(26,522,110	)		(29,594,654	)		(18,577,225	)

Net increase/(decrease) in cash and cash equivalents		3,072,544			(11,017,429	)		(6,778,790	)

(c)	Cash and cash equivalents


	December 31,			December 31,			December 31,
	2022			2023			2024
	RMB’000			RMB’000			RMB’000
	(Restated)			(Restated)
Cash at bank (Note 16)		43,939,270			39,695,914			29,903,846
Less: Time deposits with original maturities of more than 3 months		(14,346,731	)		(21,122,482	)		(18,108,539	)
Add: Provision for impairment losses		2,115			3,793			3,128

Cash and cash equivalents at the end of the year		29,594,654			18,577,225			11,798,435

(d)	Net debt reconciliation

This section sets out an analysis of net debt and the movements in net debt for each of the years ended December 31, 2022, 2023 and 2024.


	Borrowings		Bonds payable			Convertible promissory notes payable			Lease liabilities			Optionally convertible promissory notes			Total
	RMB’000		RMB’000			RMB’000			RMB’000			RMB’000			RMB’000
	(Restated)		(Restated)						(Restated)						(Restated)
As of January 1, 2022		25,927,417		—			10,669,498			811,248			7,405,103			44,813,266

Cash flows		8,795,125		2,010,782			(3,863,265	)		(617,800	)		(493,134	)		5,831,708
Redemption of convertible promissory notes		—		—			(3,697,127	)		—			—			(3,697,127	)
Acquisitions-leases		—		—			—			600,760			—			600,760
Disposals-leases		—		—			—			(75,850	)		—			(75,850	)
Foreign exchange adjustments		817,311		75,299			1,009,422			—			709,192			2,611,224
Accrued expense		1,375,660		57,267			1,045,611			42,268			521,747			3,042,553

As of December 31, 2022		36,915,513		2,143,348			5,164,139			760,626			8,142,908			53,126,534

Cash flows		349,881		(2,298,222	)		(50,900	)		(486,942	)		(8,840,294	)		(11,326,477	)
Acquisitions-leases		—		—			—			273,778			—			273,778
Disposals-leases		—		—			—			(170,878	)		—			(170,878	)
Foreign exchange adjustments		15,441		79,167			89,012			—			290,131			473,751
Accrued expense		1,542,449		75,707			448,017			27,934			407,255			2,501,362

As of December 31, 2023		38,823,284		—			5,650,268			404,518			—			44,878,070

Cash flows		10,360,632		—			(51,180	)		(289,615	)		—			10,019,837
Acquisition of subsidiaries		—		—			—			8,612			—			8,612
Acquisitions-leases		—		—			—			217,279			—			217,279
Disposals-leases		—		—			—			(53,727	)		—			(53,727	)
Foreign exchange adjustments		253,081		—			88,231			—			—			341,312
Accrued expense		1,677,578		—			486,731			15,800			—			2,180,109

As of December 31, 2024		51,114,575		—			6,174,050			302,867			—			57,591,492