Loans To Customers

12 Months Ended

Dec. 31, 2025

Disclosure Of Loans to Customers [Abstract]

22.	Loans to customers


	December 31,			December 31,
	2024			2025
	RMB’000			RMB’000
Loans originated by consolidated trust plans		61,447,339			38,030,617
Loans originated by financial institutions		57,507,164			74,412,773

		118,954,503			112,443,390
Interest receivable		1,097,686			1,168,678
Less: Provision for impairment losses		(8,543,520	)		(11,321,094	)
Stage 1		(5,740,230	)		(5,498,010	)
Stage 2		(1,084,589	)		(2,663,206	)
Stage 3		(1,718,701	)		(3,159,878	)

		111,508,669			102,290,974

Expected credit loss rate		7.12	%		9.96	%

(a)

As of December 31, 2024 and 2025, loans amounting to RMB23,462 million and RMB10,008 million, respectively, were covered by credit enhancement provided by credit enhancement providers. Of these amounts, loans amounting to RMB12,852 million and RMB1,285 million as of December 31, 2024 and 2025, respectively, were 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.

(b)	For the years ended December 31, 2024 and 2025, the amounts of concession provided to customers were not material.

(c)	The following table sets forth the movements of the 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
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

(d)	The following table sets forth the movements 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		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

(e)	The following table sets forth the movements of the 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

(f)	The following table sets forth the movements 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

(g)	The following table sets forth the movements of the gross carrying amount of loans to customers for the year ended December 31, 2025:


Year ended December 31, 2025	Stage 1			Stage 2			Stage 3			Total
	RMB’000			RMB’000			RMB’000			RMB’000

As of January 1, 2025		116,165,300			1,749,776			2,137,113			120,052,189
New loans originated		156,689,847			—			—			156,689,847
Transfers
— From stage 1 to stage 2		(14,562,381	)		14,562,381			—			—
— From stage 2 to stage 1		485,176			(485,176	)		—			—
— From stage 2 to stage 3		—			(8,538,224	)		8,538,224			—
— From stage 3 to stage 2		—			6,021			(6,021	)		—
Loans derecognized and other adjustments in the current period (including repayments of loans)		(152,657,480	)		(3,710,883	)		(55,688	)		(156,424,051	)
Write-offs		—			—			(6,705,917	)		(6,705,917	)

As of December 31, 2025		106,120,462			3,583,895			3,907,711			113,612,068

(h)	The following table sets forth the movements of ECL allowance for the year ended December 31, 2025:


Year ended December 31, 2025	Stage 1			Stage 2			Stage 3			Total
	RMB’000			RMB’000			RMB’000			RMB’000
As of January 1, 2025		5,740,230			1,084,589			1,718,701			8,543,520
New loans originated		3,865,466			—			—			3,865,466
Transfers
— From stage 1 to stage 2		(5,865,285	)		5,865,285			—			—
— From stage 2 to stage 1		296,128			(296,128	)		—			—
— From stage 2 to stage 3		—			(7,212,690	)		7,212,690			—
— From stage 3 to stage 2		—			4,767			(4,767	)		—
Loans derecognized and other adjustments in the current period (including repayments of loans)		(4,687,017	)		(1,009,298	)		(371,475	)		(6,067,790	)
Remeasurements		6,148,488			4,226,681			767,056			11,142,225
Write-offs		—			—			(6,705,917	)		(6,705,917	)
Recovery of loans written off previously		—			—			543,590			543,590

As of December 31, 2025		5,498,010			2,663,206			3,159,878			11,321,094

(i)	As of December 31, 2024 and 2025, the 97 % of loans and advances issued by the Group to customers were conducted in the Chinese Mainland.