Material Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Material Accounting Policies [Abstract]

Schedule of Restatement of Previously Issued Consolidated Financial Statements


		Consolidated statements of comprehensive income for the year ended December 31, 2022
						Adjustments by category
		As Previously Reported				Adjustment 1				Adjustment 2				Adjustment 3				Adjustment 4				Adjustment 5				Adjustment 6				Other Adjustments				As Restated
		RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000
Technology platform-based income			29,218,432				—				—				—				(3,819	)			—				—				—				29,214,613
Net interest income			18,981,376				—				50,557				—				—				(36,254	)			(5,507	)			(308,236	)			18,681,936
Guarantee income			7,372,509				—				—				—				—				—				—				—				7,372,509
Other income			1,238,004				—				—				—				602,230				—				—				—				1,840,234
Investment income			1,305,625				—				(35,492	)			(761,445	)			(23,529	)			32,671				(5,012	)			—				512,818
Share of net losses of investments accounted for using the equity method			(218	)			—				—				—				—				—				—				—				(218	)

Total income			58,115,728				—				15,065				(761,445	)			574,882				(3,583	)			(10,519	)			(308,236	)			57,621,892

Sales and marketing expenses			(15,756,916	)			—				—				—				(7,766	)			—				—				—				(15,764,682	)
General and administrative expenses			(2,830,119	)			—				—				—				(44,247	)			(10,656	)			—				—				(2,885,022	)
Operation and servicing expenses			(6,429,862	)			—				(15,065	)			—				(451,469	)			(25,782	)			—				—				(6,922,178	)
Technology and analytics expenses			(1,872,454	)			—				—				—				(24,911	)			—				—				—				(1,897,365	)
Credit impairment losses			(16,550,465	)			—				—				22,644				31,621				—				(16,095	)			—				(16,512,295	)
Asset impairment losses			(427,108	)			—				—				—				—				—				—				—				(427,108	)
Finance costs			(1,238,992	)			—				—				—				(425	)			40,021				26,614				—				(1,172,782	)
Other gains - net			3,459				—				—				—				1,943				—				—				—				5,402

Total expenses			(45,102,457	)			—				(15,065	)			22,644				(495,254	)			3,583				10,519				—				(45,576,030	)

Profit before income tax expenses			13,013,271				—				—				(738,801	)			79,628				—				—				(308,236	)			12,045,862
Less: Income tax expenses			(4,238,232	)			—				—				—				(26,603	)			—				—				77,059				(4,187,776	)

Net profit for the year			8,775,039				—				—				(738,801	)			53,025				—				—				(231,177	)			7,858,086

Net profit attributable to:
Owners of the Company			8,699,369				—				—				(738,801	)			47,945				—				—				(231,177	)			7,777,336
Non-controlling interests			75,670				—				—				—				5,080				—				—				—				80,750

			8,775,039				—				—				(738,801	)			53,025				—				—				(231,177	)			7,858,086

Earnings per share (expressed in RMB per share)
-Basic earnings per share			7.60				—				—				(0.65	)			0.04				—				—				(0.20	)			6.79
-Diluted earnings per share			7.58				—				—				(0.64	)			0.04				—				—				(0.20	)			6.78
-Basic earnings per ADS			15.20				—				—				(1.30	)			0.08				—				—				(0.40	)			13.58
-Diluted earnings per ADS			15.16				—				—				(1.28	)			0.08				—				—				(0.40	)			13.56


		Consolidated statements of comprehensive income for the year ended December 31, 2023
						Adjustments by category
		As Previously Reported				Adjustment 1				Adjustment 2				Adjustment 3				Adjustment 4				Adjustment 5				Adjustment 6				Other Adjustments				As Restated
		RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000
Technology platform-based income			15,325,826				—				—				—				(7,082	)			—				—				—				15,318,744
Net interest income			12,348,357				129,210				36,433				—				—				(19,594	)			(16,338	)			634,060				13,112,128
Guarantee income			4,392,376				—				—				—				—				—				—				—				4,392,376
Other income			1,143,770				—				—				—				247,132				—				—				—				1,390,902
Investment income			1,050,453				(624,914	)			(15,569	)			(123,136	)			(187,865	)			(6,602	)			(12,391	)			—				79,976
Share of net losses of investments accounted for using the equity method			(5,416	)			—				—				—				—				—				—				—				(5,416	)

Total income			34,255,366				(495,704	)			20,864				(123,136	)			52,185				(26,196	)			(28,729	)			634,060				34,288,710

Sales and marketing expenses			(9,867,488	)			—				—				—				(21,187	)			—				—				—				(9,888,675	)
General and administrative expenses			(2,304,835	)			—				—				—				(37,356	)			(7,852	)			—				—				(2,350,043	)
Operation and servicing expenses			(6,118,635	)			(17,078	)			(20,864	)			—				(26,691	)			(9,269	)			—				—				(6,192,537	)
Technology and analytics expenses			(1,387,055	)			—				—				—				(18,745	)			—				—				—				(1,405,800	)
Credit impairment losses			(12,697,308	)			—				—				1,567				(8,246	)			—				8,325				—				(12,695,662	)
Asset impairment losses			(31,246	)			—				—				—				—				—				—				—				(31,246	)
Finance costs			(414,023	)			—				—				—				1,062				43,317				20,404				—				(349,240	)
Other gains - net			210,336				—				—				—				2,622				—				—				—				212,958

Total expenses			(32,610,254	)			(17,078	)			(20,864	)			1,567				(108,541	)			26,196				28,729				—				(32,700,245	)

Profit before income tax expenses			1,645,112				(512,782	)			—				(121,569	)			(56,356	)			—				—				634,060				1,588,465
Less: Income tax expenses			(610,626	)			128,196				—				—				5,578				—				—				(158,515	)			(635,367	)

Net profit for the year			1,034,486				(384,586	)			—				(121,569	)			(50,778	)			—				—				475,545				953,098

Net profit attributable to:
Owners of the Company			886,865				(384,586	)			—				(121,569	)			(46,631	)			—				—				475,545				809,624
Non-controlling interests			147,621				—				—				—				(4,147	)			—				—				—				143,474

			1,034,486				(384,586	)			—				(121,569	)			(50,778	)			—				—				475,545				953,098

Earnings per share (expressed in RMB per share)
-Basic earnings per share			0.77				(0.34	)			—				(0.10	)			(0.03	)			—				—				0.41				0.71
-Diluted earnings per share			0.77				(0.34	)			—				(0.10	)			(0.03	)			—				—				0.41				0.71
-Basic earnings per ADS			1.54				(0.68	)			—				(0.20	)			(0.06	)			—				—				0.82				1.42
-Diluted earnings per ADS			1.54				(0.68	)			—				(0.20	)			(0.06	)			—				—				0.82				1.42


		Consolidated statements of financial position as of January 1, 2022
						Adjustments by category
		As Previously Reported				Adjustment 1				Adjustment 2				Adjustment 3				Adjustment 4				Adjustment 5				Adjustment 6				Other Adjustments				As Restated
		RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000
ASSETS
Cash at bank			34,743,188				—				—				—				25,800				—				—				—				34,768,988
Restricted cash			30,453,539				—				26,795				—				—				447,829				—				—				30,928,163
Financial assets held under resale agreements			5,527,177				—				—				—				—				2,372,350				—				—				7,899,527
Financial assets at fair value through profit or loss			31,023,211				—				(1,085,870	)			—				229,699				(2,340,017	)			419,389				—				28,246,412
Financial assets at amortized cost			3,784,613				—				—				—				(257,974	)			—				(502,021	)			—				3,024,618
Accounts and other receivables and contract assets			22,344,773				—				—				—				134,945				—				—				(325,824	)			22,153,894
Loans to customers			214,972,110				—				—				—				—				—				—				—				214,972,110
Deferred tax assets			4,873,370				—				—				—				16,543				—				—				—				4,889,913
Property and equipment			380,081				—				—				—				4,823				—				—				—				384,904
Investments accounted for using the equity method			459,496				—				—				—				—				—				—				—				459,496
Intangible assets			899,406				—				—				—				—				—				—				—				899,406
Right-of-use assets			804,990				—				—				—				18,134				—				—				—				823,124
Goodwill			8,918,108				—				—				—				—				—				—				—				8,918,108
Other assets			1,249,424				—				—				—				2,755				40,416				—				—				1,292,595

Total assets			360,433,486				—				(1,059,075	)			—				174,725				520,578				(82,632	)			(325,824	)			359,661,258

LIABILITIES
Payable to platform investors			2,747,891				—				—				—				—				—				—				—				2,747,891
Borrowings			25,927,417				—				—				—				—				—				—				—				25,927,417
Current income tax liabilities			8,222,684				—				—				—				61				—				(5,436	)			—				8,217,309
Accounts and other payables and contract liabilities			8,814,255				—				—				—				74,286				—				(82,632	)			—				8,805,909
Payable to investors of consolidated structured entities			195,446,140				—				(1,059,075	)			—				—				(136,958	)			—				—				194,250,107
Financing guarantee liabilities			2,697,109				—				—				—				—				—				—				—				2,697,109
Deferred tax liabilities			833,694				—				—				—				439				—				5,436				(81,456	)			758,113
Lease liabilities			794,544				—				—				—				16,704				—				—				—				811,248
Convertible promissory notes payable			10,669,498				—				—				—				—				—				—				—				10,669,498
Optionally convertible promissory notes			7,405,103				—				—				—				—				—				—				—				7,405,103
Financial assets sold under repurchase agreements			—				—				—				—				—				620,297				—				—				620,297
Other liabilities			2,315,948				—				—				—				30,649				37,239				—				—				2,383,836

Total liabilities			265,874,283				—				(1,059,075	)			—				122,139				520,578				(82,632	)			(81,456	)			265,293,837

EQUITY
Share capital			75				—				—				—				—				—				—				—				75
Share premium			33,365,786				—				—				—				—				—				—				—				33,365,786
Treasury shares			(5,560,104	)			—				—				—				—				—				—				—				(5,560,104	)
Other reserves			9,304,995				—				—				—				—				—				—				1,613,336				10,918,331
Retained earnings			55,942,943				—				—				—				36,558				—				—				(1,857,704	)			54,121,797

Total equity attributable to owners of the Company			93,053,695				—				—				—				36,558				—				—				(244,368	)			92,845,885
Non-controlling interests			1,505,508				—				—				—				16,028				—				—				—				1,521,536

Total equity			94,559,203				—				—				—				52,586				—				—				(244,368	)			94,367,421

Total liabilities and equity			360,433,486				—				(1,059,075	)			—				174,725				520,578				(82,632	)			(325,824	)			359,661,258


		Consolidated statements of financial position as of December 31, 2022
						Adjustments by category
		As Previously Reported				Adjustment 1				Adjustment 2				Adjustment 3				Adjustment 4				Adjustment 5				Adjustment 6				Other Adjustments				As Restated
		RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000
ASSETS
Cash at bank			43,882,127				—				—				—				57,143				—				—				—				43,939,270
Restricted cash			26,508,631				—				90,946				—				—				487,144				—				—				27,086,721
Financial assets held under resale agreements			—				—				—				—				—				40,023				—				—				40,023
Financial assets at fair value through profit or loss			29,089,447				—				(724,258	)			122,107				786,172				2,667,151				(26,491	)			—				31,914,128
Financial assets at amortized cost			4,716,448				—				—				(860,908	)			(128,174	)			—				(316,282	)			—				3,411,084
Accounts and other receivables and contract assets			15,758,135				—				—				—				107,216				—				—				(43,293	)			15,822,058
Loans to customers			211,446,645				—				—				—				—				—				—				—				211,446,645
Deferred tax assets			4,990,352				—				—				—				9,957				—				—				—				5,000,309
Property and equipment			322,499				—				—				—				7,256				—				—				—				329,755
Investments accounted for using the equity method			39,271				—				—				—				—				—				—				—				39,271
Intangible assets			885,056				—				—				—				—				—				—				—				885,056
Right-of-use assets			754,010				—				—				—				13,691				—				—				—				767,701
Goodwill			8,911,445				—				—				—				—				—				—				—				8,911,445
Other assets			1,958,741				—				—				—				3,006				2,699				—				(590,767	)			1,373,679

Total assets			349,262,807				—				(633,312	)			(738,801	)			856,267				3,197,017				(342,773	)			(634,060	)			350,967,145

LIABILITIES
Payable to platform investors			1,569,367				—				—				—				—				—				—				—				1,569,367
Borrowings			36,915,513				—				—				—				—				—				—				—				36,915,513
Bonds payable			2,143,348				—				—				—				—				—				—				—				2,143,348
Current income tax liabilities			1,987,443				—				—				—				2,050				—				(3,304	)			—				1,986,189
Accounts and other payables and contract liabilities			12,198,654				—				—				—				710,434				—				(80,921	)			—				12,828,167
Payable to investors of consolidated structured entities			177,147,726				—				(633,312	)			—				—				(162,081	)			—				—				176,352,333
Financing guarantee liabilities			5,763,369				—				—				—				—				—				—				—				5,763,369
Deferred tax liabilities			694,090				—				—				—				772				—				3,304				(158,515	)			539,651
Lease liabilities			748,807				—				—				—				11,819				—				—				—				760,626
Convertible promissory notes payable			5,164,139				—				—				—				—				—				—				—				5,164,139
Optionally convertible promissory notes			8,142,908				—				—				—				—				—				—				—				8,142,908
Financial assets sold under repurchase agreements			—				—				—				—				—				3,343,950				—				—				3,343,950
Other liabilities			2,000,768				—				—				—				25,581				15,148				(261,852	)			—				1,779,645

Total liabilities			254,476,132				—				(633,312	)			—				750,656				3,197,017				(342,773	)			(158,515	)			257,289,205

EQUITY
Share capital			75				—				—				—				—				—				—				—				75
Share premium			32,073,874				—				—				—				—				—				—				—				32,073,874
Treasury shares			(5,642,769	)			—				—				—				—				—				—				—				(5,642,769	)
Other reserves			2,158,432				—				—				—				—				—				—				1,613,336				3,771,768
Retained earnings			64,600,234				—				—				(738,801	)			84,503				—				—				(2,088,881	)			61,857,055

Total equity attributable to owners of the Company			93,189,846				—				—				(738,801	)			84,503				—				—				(475,545	)			92,060,003
Non-controlling interests			1,596,829				—				—				—				21,108				—				—				—				1,617,937

Total equity			94,786,675				—				—				(738,801	)			105,611				—				—				(475,545	)			93,677,940

Total liabilities and equity			349,262,807				—				(633,312	)			(738,801	)			856,267				3,197,017				(342,773	)			(634,060	)			350,967,145


		Consolidated statements of financial position as of December 31, 2023
						Adjustments by category
		As Previously Reported				Adjustment 1				Adjustment 2				Adjustment 3				Adjustment 4				Adjustment 5				Adjustment 6				Other Adjustments				As Restated
		RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000				RMB’000
ASSETS
Cash at bank			39,598,785				—				—				—				97,129				—				—				—				39,695,914
Restricted cash			11,145,838				225,322				12,314				—				—				2,033,141				—				—				13,416,615
Financial assets held under resale agreements			—				—				—				—				—				28,834				—				—				28,834
Financial assets at fair value through profit or loss			28,892,604				(3,260,840	)			(393,316	)			111,307				1,897,929				(2,112,362	)			(372,117	)			—				24,763,205
Financial assets at amortized cost			3,011,570				—				—				(971,677	)			(137,900	)			—				(143,910	)			—				1,758,083
Accounts and other receivables and contract assets			7,293,671				—				—				—				54,016				—				—				—				7,347,687
Loans to customers			129,693,954				—				—				—				—				—				—				—				129,693,954
Deferred tax assets			5,572,042				128,196				—				—				60,646				—				(29,244	)			—				5,731,640
Property and equipment			180,310				—				—				—				5,900				—				—				—				186,210
Investments accounted for using the equity method			2,609				—				—				—				—				—				—				—				2,609
Intangible assets			874,919				—				—				—				—				—				—				—				874,919
Right-of-use assets			400,900				—				—				—				18,690				—				—				—				419,590
Goodwill			8,911,445				—				—				—				—				—				—				—				8,911,445
Other assets			1,444,362				40,864				—				—				(353,821	)			419,960				—				—				1,551,365

Total assets			237,023,009				(2,866,458	)			(381,002	)			(860,370	)			1,642,589				369,573				(545,271	)			—				234,382,070

LIABILITIES
Payable to platform investors			985,761				—				—				—				—				—				—				—				985,761
Borrowings			38,823,284				—				—				—				—				—				—				—				38,823,284
Current income tax liabilities			782,096				—				—				—				16,096				—				3,414				—				801,606
Accounts and other payables and contract liabilities			6,977,118				—				—				—				1,527,387				—				(52,843	)			—				8,451,662
Payable to investors of consolidated structured entities			83,264,738				(2,481,872	)			(381,002	)			—				—				(943,597	)			—				—				79,458,267
Financing guarantee liabilities			4,185,532				—				—				—				—				—				—				—				4,185,532
Deferred tax liabilities			524,064				—				—				—				719				—				(32,658	)			—				492,125
Lease liabilities			386,694				—				—				—				17,824				—				—				—				404,518
Convertible promissory notes payable			5,650,268				—				—				—				—				—				—				—				5,650,268
Financial assets sold under repurchase agreements			—				—				—				—				—				1,307,395				—				—				1,307,395
Other liabilities			1,759,672				—				—				—				25,730				5,775				(463,184	)			—				1,327,993

Total liabilities			143,339,227				(2,481,872	)			(381,002	)			—				1,587,756				369,573				(545,271	)			—				141,888,411

EQUITY
Share capital			75				—				—				—				—				—				—				—				75
Share premium			32,142,233				—				—				—				—				—				—				—				32,142,233
Treasury shares			(5,642,768	)			—				—				—				—				—				—				—				(5,642,768	)
Other reserves			155,849				—				—				—				—				—				—				1,613,336				1,769,185
Retained earnings			65,487,099				(384,586	)			—				(860,370	)			37,872				—				—				(1,613,336	)			62,666,679

Total equity attributable to owners of the Company			92,142,488				(384,586	)			—				(860,370	)			37,872				—				—				—				90,935,404
Non-controlling interests			1,541,294				—				—				—				16,961				—				—				—				1,558,255

Total equity			93,683,782				(384,586	)			—				(860,370	)			54,833				—				—				—				92,493,659

Total liabilities and equity			237,023,009				(2,866,458	)			(381,002	)			(860,370	)			1,642,589				369,573				(545,271	)			—				234,382,070


		Consolidated statement of cash flows for the year ended December 31, 2022
		As Previously Reported				Total Restatement Impacts				As Restated
		RMB’000				RMB’000				RMB’000
Cash flows from operating activities
Profit before income tax			13,013,271				(967,409	)			12,045,862
Adjustments for:
Depreciation of property and equipment			177,799				3,802				181,601
Depreciation of right-of-use assets			578,014				13,187				591,201
Amortization of intangible assets			15,325				—				15,325
Share of losses of associates and joint ventures			218				—				218
Net gains on sale of property and equipment, and intangible assets			24,256				576				24,832
Net unrealized losses on financial assets at fair value through profit or loss			212,297				(79,422	)			132,875
Non-cash employee benefits expense-share based payment			45,919				(757	)			45,162
Asset impairment losses			427,108				—				427,108
Credit impairment losses			11,956,103				(38,170	)			11,917,933
Finance cost classified as financing activities			2,502,008				(20,949	)			2,481,059
Investment income classified as investing activities			(1,460,167	)			814,474				(645,693	)
Foreign exchange losses			877,232				—				877,232

			28,369,383				(274,668	)			28,094,715

Decrease in loans to customers and accounts and other receivables			10,415,490				(4,088,647	)			6,326,843
Decrease in accounts and other payables			(24,054,567	)			4,881,006				(19,173,561	)

Cash generated from operating activities			14,730,306				517,691				15,247,997

Income tax paid			(10,275,005	)			(17,936	)			(10,292,941	)

Net cash generated from operating activities			4,455,301				499,755				4,955,056

Cash flows from investing activities
Proceeds from sale of investment assets			99,031,093				(98,650	)			98,932,443
Proceeds from sale of property and equipment			19,655				288				19,943
Interest received on investment assets			1,725,499				(17,947	)			1,707,552
Payment for acquisition of investment assets			(97,732,903	)			(331,953	)			(98,064,856	)
Securities purchases under agreements to resell, net			5,527,177				—				5,527,177
Payment for property and equipment and other long-term assets			(122,843	)			(6,522	)			(129,365	)

Net cash generated from investing activities			8,447,678				(454,784	)			7,992,894

Cash flows from financing activities
Proceeds from capital contribution from the non-controlling shareholder of subsidiaries			15,938				—				15,938
Proceeds from exercise of share-based payment			95,911				—				95,911
Proceeds from borrowings			9,046,338				—				9,046,338
Repayment of borrowings			(5,794,772	)			—				(5,794,772	)
Payment for early redemption and extension of convertible promissory notes payable			(3,747,386	)			—				(3,747,386	)
Payment for lease liabilities			(604,172	)			(13,628	)			(617,800	)
Payment for interest expenses			(1,213,186	)			—				(1,213,186	)
Payment for dividend declared			(7,717,474	)			—				(7,717,474	)

Net cash used in financing activities			(9,918,803	)			(13,628	)			(9,932,431	)

Effect of exchange rate changes on cash and cash equivalents			57,025				—				57,025
Net increase in cash and cash equivalents			3,041,201				31,343				3,072,544
Add: Cash and cash equivalents at the beginning of the year			26,496,310				25,800				26,522,110

Cash and cash equivalents at the end of the year			29,537,511				57,143				29,594,654


		Consolidated statement of cash flows for the year ended December 31, 2023
		As Previously Reported				Total Restatement Impacts				As Restated
		RMB’000				RMB’000				RMB’000
Cash flows from operating activities
Profit before income tax			1,645,112				(56,647	)			1,588,465
Adjustments for:
Depreciation of property and equipment			181,171				4,051				185,222
Depreciation of right-of-use assets			413,957				13,401				427,358
Amortization of intangible assets			11,022				—				11,022
Share of losses of associates and joint ventures			5,416				—				5,416
Net gains on sale of property and equipment, and intangible assets			21,506				488				21,994
Net unrealized losses on financial assets at fair value through profit or loss			197,027				327,976				525,003
Non-cash employee benefits expense-share based payment			(36,143	)			(61	)			(36,204	)
Asset impairment losses			31,246				—				31,246
Credit impairment losses			5,598,588				(1,646	)			5,596,942
Finance cost classified as financing activities			1,784,065				(19,593	)			1,764,472
Investment income classified as investing activities			(1,220,005	)			615,026				(604,979	)
Foreign exchange gains			(75,714	)			—				(75,714	)

			8,557,248				882,995				9,440,243

Decrease in loans to customers and accounts and other receivables			105,943,815				(2,041,542	)			103,902,273
Decrease in accounts and other payables			(96,748,653	)			(1,120,211	)			(97,868,864	)

Cash generated from operating activities			17,752,410				(2,278,758	)			15,473,652

Income tax paid			(2,722,124	)			(31,116	)			(2,753,240	)

Net cash generated from operating activities			15,030,286				(2,309,874	)			12,720,412

Cash flows from investing activities
Proceeds from sale of investment assets			67,031,534				241,266				67,272,800
Proceeds from sale of property and equipment			8,220				244				8,464
Interest received on investment assets			970,133				(144,408	)			825,725
Payment for acquisition of investment assets			(73,924,054	)			2,373,739				(71,550,315	)
Securities purchases under agreements to resell, net			—				—				—
Payment for property and equipment and other long-term assets			(48,340	)			(2,939	)			(51,279	)
Net cash inflow from disposal of subsidiaries			25,075				—				25,075

Net cash used in investing activities			(5,937,432	)			2,467,902				(3,469,530	)

Cash flows from financing activities
Proceeds from exercise of share-based payment			252				—				252
Proceeds from borrowings			14,618,467				—				14,618,467
Repayment of borrowings			(18,259,533	)			339,296				(17,920,237	)
Payment for early redemption and extension of convertible promissory notes payable			(3,642,931	)			—				(3,642,931	)
Repayment of optionally convertible promissory notes payable			(8,342,096	)			—				(8,342,096	)
Repayment of bonds payable			(2,163,195	)			—				(2,163,195	)
Payment for lease liabilities			(474,546	)			(12,396	)			(486,942	)
Payment for interest expenses			(1,511,327	)			(19,912	)			(1,531,239	)
Payment for dividend declared			(1,435,461	)			—				(1,435,461	)
Payment for acquisition of non-controlling interests of subsidiary			(199,200	)			—				(199,200	)
Refund of cash reserved for repurchase of ordinary shares			854,624				—				854,624

Net cash used in financing activities			(20,554,946	)			306,988				(20,247,958	)

Effect of exchange rate changes on cash and cash equivalents			404,677				(425,030	)			(20,353	)
Net decrease in cash and cash equivalents			(11,057,415	)			39,986				(11,017,429	)
Add: Cash and cash equivalents at the beginning of the year			29,537,511				57,143				29,594,654

Cash and cash equivalents at the end of the year			18,480,096				97,129				18,577,225

Summary of Expected Useful Lives of Intangible Assets with a Limited Useful Life

The Group amortizes intangible assets with a limited useful life using the straight-line method over the following periods.


		Expected useful life
Computer software		3-10 years

Summary of the Estimated Useful Lives, Estimated Residual Value Rate and Annual Depreciation Rate of Property, Plant and Equipment

Land and buildings comprise primarily office premises. The estimated useful lives, depreciation rate and estimated residual value rate of buildings, leasehold improvements, office furniture and equipment, computer and electronic equipment and motor vehicles are as follows:


Category		Expected useful life				Estimated residual value rate				Annual depreciation rate
Buildings			30 years				5%				3%
Office furniture and equipment			3-5 years				0%-5%				19%-33%
Computer and electronic equipment			2-5 years				0%-5%				19%-50%
Motor vehicles			3-5 years				5%-10%				18%-32%
Leasehold improvements			shorter of expected useful life or the lease term				0%				20%-33%