Business combinations

12 Months Ended

Dec. 31, 2025

Disclosure of detailed information about business combination [abstract]

49.	Business combinations

On April 2, 2024, the Group acquired 100% equity interest in PAObank, a licensed bank authorized under the Hong Kong Banking Ordinance, at a cash consideration of HKD933 million (equivalent to approximately RMB846 million). Upon completion of the transaction, PAObank became a wholly-owned subsidiary of the Group.

Details of the purchase consideration, the net assets acquired and goodwill are as follows:


	RMB’000
Purchase consideration
Cash paid		845,998

The assets and liabilities recognized as a result of the acquisition are as follows:


	Fair value
	RMB’000
Cash at bank		366,527
Financial assets at fair value through other comprehensive income		432,773
Accounts and other receivables and contract assets		5,796
Loans to customers		2,120,280
Property and equipment		2,535
Intangible assets		143,729
Right-of-use assets		5,494
Other assets		1,414
Customer deposits		(2,410,836	)
Accounts and other payables and contract liabilities		(53,309	)
Other liabilities		(11,980	)
Lease liabilities		(8,781	)
Net deferred tax liability		(6,236	)

Net identifiable assets acquired		587,406
Goodwill		258,592

Purchase consideration transferred		845,998

The goodwill recognized is primarily attributed to the expected synergies and other benefits from combining their assets and activities with those of the Group. The goodwill is not deductible for income tax purposes.

The transaction costs incurred for the acquisition were immaterial and have been expensed and are included in other expenses in the consolidated statements of comprehensive income.

On July 30, 2024, the Group acquired a 100% equity interest in Heilongjiang Microfinance at a consideration of RMB70 million. Upon completion of the transaction, Heilongjiang Microfinance became a wholly-owned subsidiary of the Group.

Details of the purchase consideration, the net assets acquired and goodwill are as follows:


	RMB’000
Purchase consideration
Cash paid		70,000

The assets and liabilities recognized as a result of the acquisition are as follows:


	Fair value
	RMB’000
Cash at bank		41,419
Accounts and other receivables and contract assets		13
Intangible assets		28,306
Other liabilities		262

Net identifiable assets acquired		70,000

Goodwill		—
Gain recognized as a bargain purchase		—

Purchase consideration transferred		70,000

The transaction costs incurred for the acquisition were immaterial and have been expensed and are included in other expenses in the consolidated statements of comprehensive income.