Financial Assets At Amortized Cost (Tables)

12 Months Ended

Dec. 31, 2024

Disclosure Of Detailed Information About Financial assets at amortized costs [Line Items]

Disclosure of 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

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.

Disclosure of carrying amount of financial assets at amortized cost

(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

(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

(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

Disclosure of movement of ECL allowance of financial assets at amortized cost

(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

(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

(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