AMTD IDEA (AMTD) 20-F 28 Apr 21 2020 FY Annual report (foreign) Financial data

Cover Page

Cover Page	12 Months Ended
	Dec. 31, 2020shares
Document Information [Line Items]
Document Period End Date	Dec. 31, 2020
Document Type	20-F
Amendment Flag	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Registrant Name	AMTD International Inc.
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Well-known Seasoned Issuer	No
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001769731
Entity File Number	001-39006
Document Annual Report	true
Document Transition Report	false
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	false
Document Shell Company Report	false
Entity Address, Country	HK
ICFR Auditor Attestation Flag	false
American depository shares [member]
Document Information [Line Items]
Security Exchange Name	NYSE
Trading Symbol	HKIB
Title of 12(b) Security	American depositary shares
Class A Ordinary Shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	62,327,851
Security Exchange Name	NYSE
No Trading Symbol Flag	true
Title of 12(b) Security	Class A ordinary shares
Class B Ordinary Shares [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	183,283,628

Consolidated Statements Of Prof

Consolidated Statements Of Profit Or Loss And Other Comprehensive Income - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
REVENUE
Fee and commission income	$ 607,263,125	$ 580,006,276	$ 367,538,115
Dividend and gain related to disposed investment	171,026,667	100,551,728	99,227,724
Total income	778,289,792	680,558,004	466,765,839
Net fair value change on financial assets at fair value through profit or loss and stock loan	(31,054,945)	(641,603,993)	256,460,295
Net fair value change on derivative financial asset	371,305,326	1,165,220,000
Total revenue	1,118,540,173	1,204,174,011	723,226,134
Other income	111,867,468	22,090,268	15,392,775
Impairment losses under expected credit loss model on accounts receivable	(17,109,001)
Other Operating expenses	(103,723,211)	(114,696,855)	(52,582,107)
Staff costs	(94,410,281)	(94,607,497)	(68,024,513)
Finance costs	(21,510,079)	(27,705,955)	(9,047,063)
Net fair value changes on derivative financial liability	7,765,148
PROFIT BEFORE TAX	1,001,420,217	989,253,972	608,965,226
Income tax (expense)/credit	137,540,767	(158,349,518)	(83,839,597)
PROFIT FOR THE YEAR	1,138,960,984	830,904,454	525,125,629
Attributable to:
Ordinary shareholders	1,059,973,270	938,272,885	468,061,079
Holders of perpetual securities	78,987,714
Non-controlling interests		(107,368,431)	57,064,550
PROFIT FOR THE YEAR	1,138,960,984	830,904,454	525,125,629
EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENT
PROFIT FOR THE YEAR	1,138,960,984	830,904,454	525,125,629
Item that may be reclassified subsequently to profit or loss
Exchange differences on translation of foreign operations	1,022,840
OTHER COMPREHENSIVE INCOME FOR THE YEAR	1,022,840
TOTAL COMPREHENSIVE INCOME FOR THE YEAR	1,139,983,824	830,904,454	525,125,629
Comprehensive income attributable to [abstract]
Ordinary shareholders	1,060,996,110	938,272,885	468,061,079
Holders of perpetual securities	78,987,714	0	0
Non-controlling interests	0	(107,368,431)	57,064,550
TOTAL COMPREHENSIVE INCOME FOR THE YEAR	1,139,983,824	830,904,454	525,125,629
Class A Ordinary Shares [Member]
Attributable to:
Ordinary shareholders	$ 249,206,548	$ 69,906,757
EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENT
Basic, profit for the year attributable to ordinary equity holders of the parent	$ 4.34	$ 4.34
Diluted, profit for the year attributable to ordinary equity holders of the parent	$ 4.22	$ 4.34
Class B Ordinary Shares [Member]
Attributable to:
Ordinary shareholders	$ 810,766,722	$ 868,366,128	$ 468,061,079
EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENT
Basic, profit for the year attributable to ordinary equity holders of the parent	$ 4.34	$ 4.34	$ 2.34
Diluted, profit for the year attributable to ordinary equity holders of the parent	$ 4.34	$ 4.34	$ 2.34

Consolidated Statements Of Pr_2

Consolidated Statements Of Profit Or Loss And Other Comprehensive Income (Parenthetical) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of comprehensive income [abstract]
Income generated from related parties	$ 125,745,131	$ 42,111,072	$ 70,988,340
Disposal gain generated from related parties	$ 82,948,508

Consolidated Statements Of Fina

Consolidated Statements Of Financial Position - HKD ($)	Dec. 31, 2020	Dec. 31, 2019
Current assets
Accounts receivable	$ 77,350,250	$ 346,379,574
Prepayments, deposits and other receivables	24,872,391	36,440,972
Due from immediate holding company	6,477,266,499	2,921,838,772
Financial assets at fair value through profit or loss	62,519,937	1,572,697,716
Stock loan	878,483,400	1,200,980,200
Derivative financial asset	1,023,902,566	1,165,220,000
Other assets	197,309,175	245,502,780
Cash and bank balances	453,966,764	766,430,471
Total current assets	8,317,187,582	8,255,490,485
Non-current assets
Property, plant and equipment	111,357	30,997
Intangible assets	15,171,170	15,171,170
Financial assets at fair value through profit or loss	1,315,336,778
Stock loan	878,483,400
Total non-current assets	2,209,102,705	15,202,167
Total assets	10,526,290,287	8,270,692,652
Current liabilities
Accounts payable	201,986,202	492,039,336
Margin loans payable		317,722,438
Bank borrowings	232,280,000
Other payables and accruals	128,325,893	178,017,594
Tax payable	123,289,855	94,695,263
Total current liabilities	685,881,950	1,082,474,631
Non-current liabilities
Deferred tax liabilities		242,913,577
Derivative financial liability	12,954,313	20,813,810
Convertible bond	103,278,429	95,995,690
Total non-current liabilities	116,232,742	359,723,077
Total liabilities	802,114,692	1,442,197,708
Equity
Capital reserve	4,551,187,228	4,551,187,228
Exchange reserve	1,022,840
Retained profits	3,337,088,284	2,277,115,014
Total equity attributable to ordinary shareholders of the Company	7,889,491,054	6,828,494,944
Perpetual securities	1,834,684,541
Total equity	9,724,175,595	6,828,494,944
Total liabilities and equity	10,526,290,287	8,270,692,652
Class A ordinary shares [Member]
Equity
Share capital	48,838	32,162
Class B Ordinary Shares [Member]
Equity
Share capital	$ 143,864	$ 160,540

Consolidated Statements Of Fi_2

Consolidated Statements Of Financial Position (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Class A ordinary shares [Member]
Disclosure of classes of share capital [line items]
Common stock par or stated value per share	$ 0.0001	$ 0.0001
Common stock shares authorised	8,000,000,000	8,000,000,000
Common stock shares issued	62,327,851	41,084,851
Common stock shares outstanding	62,327,851	41,084,851
Class B ordinary shares [Member]
Disclosure of classes of share capital [line items]
Common stock par or stated value per share	$ 0.0001	$ 0.0001
Common stock shares authorised	2,000,000,000	2,000,000,000
Common stock shares issued	183,283,628	204,526,628
Common stock shares outstanding	183,283,628	204,526,628

Consolidated Statements Of Chan

Consolidated Statements Of Changes In Equity - HKD ($)		Total	Share capital	Exchange reserve	Capital reserve	Retained profits	Equity attributable to ordinary shareholders of the Company	Equity attributable to holders of perpetual securities	Non-controlling interests
Beginning balance at Dec. 31, 2017		$ 2,669,276,470	$ 156,998		$ 1,312,802,675	$ 870,781,050	$ 2,183,740,723		$ 485,535,747
Capital injection to a subsidiary		1			1		1
Total comprehensive income for the year		525,125,629
Profit for the year		525,125,629				468,061,079	468,061,079		57,064,550
Ending balance at Dec. 31, 2018		3,194,402,100	156,998		1,312,802,676	1,338,842,129	2,651,801,803		542,600,297
Deemed disposal of non-controlling interest	[1]				435,231,866		435,231,866		(435,231,866)
Exercise of warrants		94,197,600	1,308		94,196,292		94,197,600
Pre-IPO financing		419,382,149	6,451		419,375,698		419,382,149
Initial public offering		1,507,215,141	18,681		1,507,196,460		1,507,215,141
Capital injection to a subsidiary		9			9		9
New issuance of shares		782,393,491	9,264		782,384,227		782,393,491
Total comprehensive income for the year		830,904,454
Profit for the year		830,904,454				938,272,885	938,272,885		(107,368,431)
Ending balance at Dec. 31, 2019		6,828,494,944	192,702		4,551,187,228	2,277,115,014	6,828,494,944
Issuance of perpetual securities		1,818,450,452						1,818,450,452
Exchange differences on translation of foreign operations		1,022,840		1,022,840			1,022,840
Total comprehensive income for the year		1,139,983,824		1,022,840		1,059,973,270	1,060,996,110	78,987,714
Profit for the year		1,138,960,984				1,059,973,270	1,059,973,270	78,987,714
Distribution to holders of perpetual securities		(62,753,625)						(62,753,625)
Ending balance at Dec. 31, 2020		$ 9,724,175,595	$ 192,702	$ 1,022,840	$ 4,551,187,228	$ 3,337,088,284	$ 7,889,491,054	$ 1,834,684,541
[1]	AMTD ISG and AMTD SI were indirectly held by AMTD Group for 79.13% before the Reorganisation (see Note 1.2). In March 2019, due to the Reorganisation, the non-controlling shareholders surrendered their indirect interests in AMTD ISG and AMTD SI amounting to HK$435,231,866 which represented 20.87% of the total net assets of AMTD ISG and AMTD SI. Thereafter AMTD ISG and AMTD SI became wholly-owned subsidiaries of the Company. The non-controlling interests were reclassified into capital reserves as deemed acquisition of additional interest in AMTD ISG and AMTD SI.

Consolidated Statements Of Ch_2

Consolidated Statements Of Changes In Equity (Parenthetical) - AMTD Investment Solutions Group And AMTD Strategic Investments [Member] - HKD ($)	Feb. 28, 2019	Mar. 31, 2019
Proportion of ownership interest In subsidiaries indirect	79.13%
Payment from changes in ownership interests that does not result in loss of control		$ 435,231,866
Percentage of non controlling interests acquired		20.87%

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows $ in Millions	12 Months Ended
	Dec. 31, 2020HKD ($)	Dec. 31, 2019HKD ($)	Dec. 31, 2018HKD ($)
CASH FLOWS FROM OPERATING ACTIVITIES
Profit before tax	$ 1,001,420,217	$ 989,253,972	$ 608,965,226
Adjustments for:
Interest income	(101,226,862)	(18,677,943)	(7,681)
Finance costs	21,510,079	27,705,955	9,047,063
Depreciation	30,374	113,919	334,841
Dividend income	(88,078,159)	(92,316,548)	(99,227,724)
Gain related to disposed investment	(82,948,508)	(8,235,180)
Net fair value changes on financial assets at fair value through profit or loss and stock loan	31,054,945	641,603,993	(256,460,295)
Net fair value changes on derivative financial asset	(371,305,326)	(1,165,220,000)
Net fair value changes on derivative financial liability	(7,765,148)
Impairment losses under expected credit loss model on accounts receivable	17,109,001
Operating cash flows before changes in working capital	419,800,613	374,228,168	262,651,430
(Increase)/decrease in accounts receivable	251,920,323	(185,286,520)	(67,920,338)
(Increase)/decrease in prepayments, deposits and other receivables	11,568,581	(3,097,113)	(10,140,416)
Decrease in due from a related company			7,500
Increase/(decrease) in other payables and accruals	(49,718,674)	97,893,906	73,607,010
Decrease in amount due from immediate holding company			439,200,382
Increase in amount due from fellow subsidiaries			(699,864,420)
Decrease in financial assets at fair value through profit or loss	972,215,580	81,711,180
Decrease in derivative financial asset	618,682,641
(Decrease)/increase in accounts payable and other assets	(241,859,529)	259,825,630	(229,906)
Cash (used in)/generated from operations	1,982,609,535	625,275,251	(2,688,758)
Profits tax paid	(76,778,218)	(9,207,649)	(17,435,053)
Dividend received	88,078,159	92,316,548	99,227,724
Interest received	67,783	1,115,839	7,681
Net cash from operating activities	1,993,977,259	709,499,989	79,111,594
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of items of property, plant and equipment	(110,734)	(13,710)	(14,214)
Increase in amount due from immediate holding company	(3,581,230,632)	(2,957,926,150)
Net cash used in investing activities	(3,581,341,366)	(2,957,939,860)	(14,214)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issue of shares		2,767,254,756
Share issue expenses		(58,263,976)
Proceeds from issue of warrants		15,699,600
Exercise of warrants		78,498,000
Proceeds from issue of convertible bonds		116,809,500
Repayment of margin loans	(317,722,438)	(4,277,101)	(351,610,081)
Proceeds from margin loans			322,000,000
Proceeds from bank borrowings	232,280,000
Net proceeds from perpetual securities	1,436,368,339
Distribution to perpetual securities holders	(62,753,625)
Financing costs paid	(13,765,758)	(27,705,955)	(9,047,063)
Net cash flows (used in)/generated from financing activities	1,274,406,518	2,888,014,824	(38,657,144)
NET INCREASE /(DECREASE) IN CASH AND CASH EQUIVALENTS	(312,957,589)	639,574,953	40,440,236
Cash and cash equivalents at beginning of year	766,430,471	126,855,518	86,415,282
Effect of foreign exchange rate change, net	493,882
CASH AND CASH EQUIVALENTS AT END OF YEAR	453,966,764	766,430,471	126,855,518
ANALYSIS OF BALANCES OF CASH AND CASH EQUIVALENTS
Cash and bank balances	$ 453,966,764	$ 126,855,518	$ 126,855,518

Corporate Information

Corporate Information	12 Months Ended
	Dec. 31, 2020
Corporate Information [Abstract]
Corporate Information	1.1 CORPORATE INFORMATION AMTD International Inc. (the “Company”) (formerly known as AMTD Inc.) is a limited liability company incorporated in Cayman Islands on February 4, 2019. The Company completed its initial public offering on New York Stock Exchange on August 5, 2019 and its shares are listed through admission on Singapore Exchange on April 8, 2020. The Company is an investment holding company. The Company and its subsidiaries (collectively referred to as the “Group”) are involved in investment banking, the provision of financial advisory services, assets management services and strategic investments. The Company’s immediate holding company is AMTD Group Company Limited (“AMTD Group”), a private company incorporated in the British Virgin Islands (“BVI”). The Company’s ultimate holding company was L.R. Capital Group Inc., a private company incorporated in the Cayman Islands. On December 31, 2020, the immediate holding company and the ultimate holding company entered into a share repurchase agreement, where the immediate holding company has repurchased certain shares previously allotted to the ultimate holding company. From then onwards, AMTD Group became the ultimate holding company for the Group. Information about principal subsidiaries Particulars of the Company’s principal subsidiaries are as follows: Name Place of Issued and registered share capital Percentage of equity and voting a Principal activities 2019 2020 Direct Indirect Direct Indirect AMTD International Holding Group Limited (formerly known as AMTD Financial Planning Limited) (“AMTD IHG”) Hong Kong (“HK”) HK$ 500,000 100 % — 100 % — Investment holding AMTD Securities Limited HK HK$ 1 — 100 % — 100 % Investment holding AMTD Global Markets Limited (formerly known as AMTD Asset Management Limited) (“AMTD GM”) HK HK$ 1,561,610,980 — 100 % — 100 % Provision of investment banking, financial advisory services and asset management services AMTD Global Markets Pte Ltd. Singapore SGD 5,000,000 — — — 100 % Provision of investment banking and financial advisory services Asia Alternative Asset Partners Limited (“AMTD AAAPL”) HK HK$ 5,000,000 — 100 % — 100 % Provision of investment advisory services AMTD Strategic Investment Limited (“AMTD SI”) HK HK$ 1 — 100 % — 100 % Strategic investment AMTD Investment Solutions Group Limited (“AMTD ISG”) HK HK$ 1 — 100 % — 100 % Strategic investment AMTD Overseas Limited (formerly known as AMTD Europe Holdings Limited) (“AMTD Overseas”) HK HK$ 1 — 100 % — 100 % Strategic investment AMTD Fintech Investment Limited (“AMTD FI”) HK HK$ 1 — 100 % — 100 % Strategic investment AMTD Investment Inc. (“AMTD Investment”) Cayman Islands US$ 1 100 % — 100 % — Investment holding AMTD Strategic Investment (BVI) Limited BVI US$ 1 — 100 % — 100 % Investment holding AMTD Investment Solutions Group (BVI) Limited BVI US$ 1 — 100 % — 100 % Investment holding AMTD Overseas (BVI) Limited BVI US$ 1 — 100 % — 100 % Investment holding AMTD Fintech Investment (BVI) Limited BVI US$ 1 — 100 % — 100 % Investment holding 尚乘(珠海)股权投资基金管理有限公司 AMTD Capital Co., Ltd. * People’s Republic of China US$ 2,000,000 — — — 100 % Private fund management * The translation i s 1.2 REORGANISATION In order to facilitate the Company’s initial public offering at the New York Stock Exchange, AMTD Group completed a Reorganisation (the “Reorganisation”) whereby, certain operating and their respective immediate holding entities under AMTD Group’s common control, were ultimately contributed to the Company: • On February 8, 2019, AMTD Investment was incorporated in Cayman Islands and directly held by the Company; • From March 12, 2019 to March 14, 2019, four wholly-owned subsidiaries were incorporated in the BVI and were held indirectly by the Company through AMTD Investment; • On March 18, 2019, the Company entered into sale and purchase agreements with AMTD Group and its subsidiaries which held the shares of AMTD ISG, AMTD SI, AMTD Overseas and AMTD FI (collectively referred to as the “transferred entities”), pursuant to which AMTD Group and its subsidiaries agreed to contribute 100% of the share capital of the transferred entities to the Company for a total of 199,990,000 newly issued Class B ordinary shares of the Company. For AMTD ISG and AMTD SI with non-controlling • On April 1, 2019, the Securities and Futures Commission (“SFC”) approved the shareholder change of AMTD IHG, which holds two licensed subsidiaries (AMTD GM and AMTD AAAPL) governed by the SFC in Hong Kong, from AMTD Group to the Company. The sale and purchase agreement with respect to the transfer of AMTD IHG became effective automatically upon the approval from the SFC. AMTD Group transferred 100% of share capital of AMTD IHG to the Company. In return, the Company issued one Class B ordinary share to AMTD Group. The Reorganisation was completed on April 1, 2019. Through the Reorganisation, the Company became the holding company of the companies now comprising the Group. Accordingly, for the purpose of preparation of the consolidated financial statements of the Group, the Company is considered as the holding company of the companies now comprising the Group throughout the years ended December 31, 2018, 2019 and 2020. Through the Reorganisation, the Company became the holding company of the contributed businesses now comprising the Group, which were under the common control of the controlling shareholder before and after the Reorganisation. Accordingly, the financial statements were prepared on a consolidated basis by applying the principles of the pooling of interest method as if the Reorganisation had been completed at the date when contributed business first came under the control of the controlling party. The consolidated statements of profit or loss and other comprehensive income, changes in equity and cash flows of the Group for the years ended December 31, 2018 and 2019, included the results and cash flows of all companies now comprising the Group from the earliest date presented or since the date when the subsidiaries and/or businesses first came under the common control of the controlling shareholder, whenever the period is shorter. The consolidated statements of financial position of the Group as of December 31, 2018 have been prepared to present the assets and liabilities of the subsidiaries and/or businesses using the existing book values from the controlling shareholder’s perspective. No adjustments are made to reflect fair values, or to recognise any new assets or liabilities as a result of the Reorganisation. Equity interests in subsidiaries and/or businesses held by parties other than the controlling shareholder, and changes therein, prior to the Reorganisation are presented as non-controlling

Basis of Presentation

Basis of Presentation	12 Months Ended
	Dec. 31, 2020
Basis of Presentation [Abstract]
Basis of Presentation	2.1 BASIS OF PRESENTATION Basis of preparation The Group’s consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRSs”) and the Interpretations of the International Financial Reporting Interpretations Committee (“IFRIC”) issued by the International Accounting Standards Board (“IASB”). For the purpose of preparation of the consolidated financial statements, information is considered material if such information is reasonably expected to influence decision made by primary users. The consolidated financial statements have been prepared on a historical cost basis, except for financial assets at fair value through profit or loss, stock loan, derivative financial asset and derivative financial liability which are measured at fair value. The consolidated financial statements are presented in Hong Kong Dollars (“HK$”) unless otherwise stated. 2.2 APPLICATION OF AMENDMENTS TO IFRSs Amendments to IFRSs that are mandatorily effective for current year In the current year, the Group has applied the Amendments to References to the Conceptual Framework in IFRS Standards and the following amendments to IFRSs issued by IASB for the first time, which are mandatorily effective for the annual periods beginning on or after 1 January 2020 for the preparation of the consolidated financial statements: Amendments to IAS 1 and IAS 8 Definition of Material Amendments to IFRS 3 Definition of Business Amendments to IFRS 9, IAS 39 and IFRS 7 Interest Rate Benchmark Reform Except as described below, the application of the Amendments to References to the Conceptual Framework in IFRS Standards and the amendments to IFRSs in the current year had no material impact on the Group’s financial positions and performance for the current and prior years and/or on the disclosures set out in these consolidated financial statements. Impacts on application of Amendments to IAS 1 and IAS 8 Definition of Material The Group has applied the Amendments to IAS 1 and IAS 8 for the first time in the current year. The amendments provide a new definition of material that states “information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements, which provide financial information about a specific reporting entity.” The amendments also clarify that materiality depends on the nature or magnitude of information, either individually or in combination with other information, in the context of the financial statements taken as a whole. 2.3 ISSUED BUT NOT YET EFFECTIVE IFRSs New and amendments to IFRSs in issue but not yet effective The Group has not early applied the following new and amendments to IFRSs and International Accounting Standards (“IASs”) that have been issued but are not yet effective: IFRS 17 Insurance Contracts and the related Amendments 1 Amendments to IFRS 16 Covid-19-Related 4 Amendments to IFRS 3 Reference to the Conceptual Framework 2 Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 Interest Rate Benchmark Reform—Phase 2 5 Amendments to IFRS 10 and IAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture 3 Amendments to IAS 1 Classification of Liabilities as Current or Non-current 1 Amendments to IAS 1 and IFRS Practice Statement 2 Disclosure of Accounting Policies 1 Amendments to IAS 8 Definition of Accounting Estimate 1 Amendments to IAS 16 Property, Plant and Equipment: Proceeds before Intended Use 2 Amendments to IAS 37 Onerous Contracts—Cost of Fulfilling a Contract 2 Amendments to IFRS Standards Annual Improvements to IFRS Standards 2018-2020 2 1 Effective for annual periods beginning on or after January 1, 2023 2 Effective for annual periods beginning on or after January 1, 2022 3 Effective for annual periods beginning on or after a date to be determined 4 Effective for annual periods beginning on or after June 1, 2020 5 Effective for annual periods beginning on or after January 1, 2021 Except for the amendments to IFRSs described below, the directors of the Company anticipate that application of all other new and amendments to IFRSs will have no material impact on the Group’s financial position and financial performance when they become effective. Impact on amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 Interest Rate Benchmark Reform—Phase 2 Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 Interest Rate Benchmark Reform—Phase 2 relate to the modification of financial assets, financial liabilities and lease liabilities, specific hedge accounting requirements and disclosure requirements applying IFRS 7 to accompany the amendments regarding modifications and hedge accounting. • Modification of financial assets, financial liabilities and lease liabilities. A practical expedient is introduced for modifications required by the reform (modifications required as a direct consequence of the interest rate benchmark reform and made on an economically equivalent basis). These modifications are accounted for by updating the effective interest rate. All other modifications are accounted for using the current IFRSs requirements. A similar practical expedient is proposed for lessee accounting applying IFRS 16; • Hedge accounting requirements. Under the amendments, hedge accounting is not discontinued solely because of the interest rate benchmark reform. Hedging relationships (and related documentation) are required to be amended to reflect modifications to the hedged item, hedging instrument and hedged risk. Amended hedging relationships should meet all qualifying criteria to apply hedge accounting, including effectiveness requirements; and • Disclosures. The amendments require disclosures in order to allow users to understand the nature and extent of risks arising from the interest rate benchmark reform to which the Group is exposed to and how the entity manages those risks as well as the entity’s progress in transitioning from interbank offered rates to alternative benchmark rates, and how the entity is managing this transition. As of December 31, 2020, the Group has several London Interbank Offered Rate (“LIBOR”) and Hong Kong Interbank Offered Rate (“HIBOR”) bank loans which may be subject to interest rate benchmark reform. The Group expects no significant gains or losses should the interest rate benchmark for these loans change resulting from the reform on application of the amendments. Impact on amendments to IAS 1 Classification of Liabilities as Current or Non-current The amendments provide clarification and additional guidance on the assessment of right to defer settlement for at least twelve months from reporting date for classification of liabilities as current or non-current, • specify that the classification of liabilities as current or non-current (i) the classification should not be affected by management intentions or expectations to settle the liability within 12 months; and (ii) if the right is conditional on the compliance with covenants, the right exists if the conditions are met at the end of the reporting period, even if the lender does not test compliance until a later date; • clarify that if a liability has terms that could, at the option of the counterparty, result in its settlement by the transfer of the entity’s own equity instruments, these terms do not affect its classification as current or non-current As of December 31, 2020, the Group’s outstanding convertible instruments include counterparty conversion options that do not meet equity instruments classification by applying IAS 32. The Group classified as current or non-current non-current 2.4 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of consolidation The consolidated financial statements include the financial statements of the Company and its subsidiaries for the years ended December 31, 2018, 2019 and 2020. A subsidiary is an entity, directly or indirectly, controlled by the Company. Control is achieved when the Group has power over investee, is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee (i.e., existing rights that give the Group the current ability to direct the relevant activities of the investee). The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control described above. The financial statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. The results of subsidiaries are consolidated from the date on which the Group obtains control, and continue to be consolidated until the date that such control ceases. Profit or loss and each item of other comprehensive income, if any, is attributed to the owners of the parent of the Group (including ordinary shareholders and holders of perpetual securities) and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions among members of the Group are eliminated in full on consolidation. Fair value measurement The Group measures its derivative financial instruments, debt and equity investments at fair value at the end of each reporting period. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either in the principal market for the asset or liability, or in the absence of a principal market, in the most advantageous market for the asset or liability. The principal or the most advantageous market must be accessible by the Group. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. A fair value measurement of a non-financial The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the consolidated financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: Level 1 — based on quoted prices (unadjusted) in active markets for identical assets or liabilities Level 2 — based on valuation techniques for which the lowest level input that is significant to the fair value measurement is observable, either directly or indirectly Level 3 — based on valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable For assets and liabilities that are recognised in the consolidated financial statements on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy by reassessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period. Impairment of non-financial Where an indication of impairment exists, or when annual impairment testing for an asset is required (other than financial assets), the asset’s recoverable amount is estimated. An asset’s recoverable amount is the higher of the asset’s value in use and its fair value less costs of disposal, and is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets, in which case the recoverable amount is determined for the cash-generating unit to which the asset belongs. An impairment loss is recognised only if the carrying amount of an asset exceeds its recoverable amount. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax An assessment is made at the end of each reporting period as to whether there is an indication that previously recognised impairment losses may no longer exist or may have decreased. If such an indication exists, the recoverable amount is estimated. A previously recognised impairment loss of an asset other than goodwill is reversed only if there has been a change in the estimates used to determine the recoverable amount of that asset, but not to an amount higher than the carrying amount that would have been determined (net of any depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of such an impairment loss is credited to profit or loss in the period in which it arises. Related parties A party is considered to be related to the Group if: (a) the party is a person or a close member of that person’s family and that person (i) has control or joint control over the Group; (ii) has significant influence over the Group; or (iii) is a member of the key management personnel of the Group or of a parent of the Group; or (b) the party is an entity where any of the following conditions applies: (i) the entity and the Group are members of the same group; (ii) one entity is an associate or joint venture of the other entity (or of a parent, subsidiary or fellow subsidiary of the other entity); (iii) the entity and the Group are joint ventures of the same third party; (iv) one entity is a joint venture of a third entity and the other entity is an associate of the third entity; (v) the entity is a post-employment benefit plan for the benefit of employees of either the Group or an entity related to the Group; and the sponsoring employers of the post-employment benefit plan; (vi) the entity is controlled or jointly controlled by a person identified in (a); (vii) a person identified in (a)(i) has significant influence over the entity or is a member of the key management personnel of the entity (or of a parent of the entity); and (viii) the entity, or any member of a group of which it is a part, provides key management personnel services to the Group or to the parent of the Group. Property, plant and equipment and depreciation Property, plant and equipment are stated at cost less accumulated depreciation and any impairment losses. The cost of an item of property, plant and equipment comprises its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use. Expenditure incurred after items of property, plant and equipment have been put into operation, such as repairs and maintenance, is normally charged to profit or loss in the year in which it is incurred. In situations where the recognition criteria are satisfied, the expenditure for a major inspection is capitalised in the carrying amount of the asset as a replacement. Where significant parts of property, plant and equipment are required to be replaced at intervals, the Group recognises such parts as individual assets with specific useful lives and depreciates them accordingly. Depreciation is calculated on a straight-line basis to write off the cost or valuation of each item of property, plant and equipment to its residual value over its estimated useful life. The principal annual rates used for this purpose are as follows: Furniture and fixtures 20% Computer equipment 33 1 3 Where parts of an item of property, plant and equipment have different useful lives, the cost of that item is allocated on a reasonable basis among the parts and each part is depreciated separately. Residual values, useful lives and the depreciation method are reviewed, and adjusted if appropriate, at least at each financial year end. An item of property, plant and equipment including any significant part initially recognised is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss on disposal or retirement recognised in profit or loss in the year the asset is derecognised is the difference between the net sales proceeds and the carrying amount of the relevant asset. Intangible assets (other than goodwill) Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination or asset acquisition is the fair value at the date of acquisition. The useful lives of intangible assets are assessed to be either finite or indefinite. Intangible assets with indefinite useful lives are tested for impairment annually either individually or at the cash-generating unit level. Such intangible assets are not amortised. The useful life of an intangible asset with an indefinite life is reviewed annually to determine whether the indefinite life assessment continues to be supportable. If not, the change in the useful life assessment from indefinite to finite is accounted for on a prospective basis. Licenses Purchased licenses are stated at cost less any impairment losses and have indefinite useful life. Financial instruments—Investments and other financial assets Initial recognition and measurement Financial assets are classified, at initial recognition, and subsequently measured at amortised cost or fair value. The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Group’s business model for managing them. With the exception of accounts receivable that do not contain a significant financing component or for which the Group has applied the practical expedient of not adjusting the effect of a significant financing component, the Group initially measures a financial asset at its fair value, plus in the case of a financial asset not at fair value through profit or loss, transaction costs. Accounts receivable that do not contain a significant financing component or for which the Group has applied the practical expedient are measured at the transaction price determined under IFRS 15 in accordance with the policies set out for “Revenue recognition” below. In order for a financial asset to be classified and measured at amortised cost, the contractual terms needs to give rise to cash flows that are solely payments of principal and interest (“SPPI”) on the principal amount outstanding and the financial asset is held within a business model whose objective is to collect contractual cash flows. The Group’s business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. Financial assets classified and measured at amortised cost are held within a business model with the objective to hold financial assets in order to collect contractual cash flows. Financial assets which are not held within the aforementioned business models are classified and measured at fair value through profit or loss. All regular way purchases or sales of financial assets are recognised and derecognised on a trade date basis. Regular way purchases or sales are purchases or sales of financial assets that require delivery of assets within the time frame established by regulation or convention in the marketplace. Subsequent measurement The subsequent measurement of financial assets depends on their classification as follows: Financial assets at amortised cost (debt instruments) Financial assets at amortised cost are subsequently measured using the effective interest method and are subject to impairment. Gains and losses are recognised in the consolidated statements of profit or loss when the asset is derecognised, modified or impaired. The effective interest method is a method of calculating the amortised cost of a financial asset and of allocating interest income and interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts and payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial asset, or, where appropriate, a shorter period, to the net carrying amount on initial recognition. Financial assets at fair value through profit or loss Financial assets at fair value through profit or loss are carried in the consolidated statements of financial position at fair value with net changes in fair value recognised in profit or loss. This category includes debt investments which the Group has irrevocably classify at fair value through profit or loss, derivative instruments and equity investments which the Group had not irrevocably elected to classify at fair value through other comprehensive income. Dividends on equity investments classified as financial assets at fair value through profit or loss are recognised as revenue in the consolidated statements of profit or loss when the right of payment has been established, it is probable that the economic benefits associated with the dividend will flow to the Group and the amount of the dividend can be measured reliably. Derecognition of financial assets A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognised (i.e., removed from the Group’s consolidated statement of financial position) when: • the rights to receive cash flows from the asset have expired; or • the Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a “pass-through” arrangement; and either (a) the Group has transferred substantially all the risks and rewards of the asset, or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. When the Group has transferred its rights to receive cash flows from an asset or has entered into a “pass-through” arrangement, it evaluates if, and to what extent, it has retained the risk and rewards of ownership of the asset. When it has neither transferred nor retained substantially all the risks and rewards of the asset nor transferred control of the asset, the Group continues to recognise the transferred asset to the extent of the Group’s continuing involvement. In that case, the Group also recognises an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Group could be required to repay. Impairment of financial assets The Group recognises an allowance for expected credit losses (“ECLs”) for all debt instruments at fair value through other comprehensive income, if any, and financial assets not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. General approach For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months 12-month At each reporting date, the Group assesses whether the credit risk on a financial asset has increased significantly since initial recognition. When making the assessment, the Group compares the risk of a default occurring on the financial asset as of the reporting date with the risk of a default occurring on the financial asset as of the date of initial recognition and considers reasonable and supportable information that is available without undue cost or effort, including historical and forward-looking information. The Group considers a financial asset in default when contractual payments are 90 days past due. However, in certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Group. Financial assets at amortised cost are subject to impairment under the general approach and they are classified within the following stages for measurement of ECLs except for accounts receivable which apply the simplified approach as detailed below. Stage 1 — Financial assets for which credit risk has not increased significantly since initial recognition and for which the loss allowance is measured at an amount equal to 12-month Stage 2 — Financial assets for which credit risk has increased significantly since initial recognition but that are not credit-impaired financial assets and for which the loss allowance is measured at an amount equal to lifetime ECLs Stage 3 — Financial assets that are credit-impaired at the reporting date (but that are not purchased or originated credit-impaired) and for which the loss allowance is measured at an amount equal to lifetime ECLs Interest income is calculated based on the gross carrying amount of the financial asset unless the financial asset is credit-impaired, in which case interest income is calculated based on amortized cost of the financial asset. Simplified approach For accounts receivable that do not contain a significant financing component or when the Group applies the practical expedient of not adjusting the effect of a significant financing component, the Group applies the simplified approach in calculating ECLs. Under the simplified approach, the Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime ECLs at each reporting date. Financial liabilities Initial recognition and measurement Financial liabilities are classified, at initial recognition, as financial liabilities at amortised cost or at fair value through profit or loss (warrants and derivative financial instruments), as appropriate. All financial liabilities are recognised initially at fair value and, in the case of financial liabilities at amortised cost, net of directly attributable transaction costs. Transaction costs directly attributable to the acquisition of financial liabilities at fair value through profit or loss are recognised immediately in profit or loss The Group’s financial liabilities include accounts payable, margin loans payable, bank borrowings, financial liabilities included in other payables and accruals, derivative financial liability and convertible bond. Subsequent measurement The subsequent measurement of financial liabilities depends on their classification as follows: Financial liabilities at amortised cost After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost, using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost. Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as through the effective interest rate amortisation process. Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the effective interest rate. The effective interest rate amortisation is included in finance costs in profit or loss. Convertible bonds If the conversion option of convertible bond exhibits characteristics of an embedded derivative, it is separated from its liability component. On initial recognition, the derivative component of the convertible bond is measured at fair value and presented as part of derivative financial instruments. Any excess of proceeds over the amount initially recognised as the derivative component is recognised as the liability component. Transaction costs are apportioned between the liability and derivative components of the convertible bond based on the allocation of proceeds to the liability and derivative components when the instruments are initially recognised. The portion of the transaction costs relating to the liability component is recognised initially as part of the liability. The portion relating to the derivative component is recognised immediately in the statement of profit or loss. Derecognition of financial liabilities A financial liability is derecognised when the obligation under the liability is discharged or cancelled, or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and a recognition of a new liability, and the difference between the respective carrying amounts is recognised in profit or loss. Derivative financial instruments Derivative financial asset is initially recognised at fair value on the date on which a derivative contract is entered into and is subsequently remeasured at fair value. Derivative financial instruments is carried as an asset when the fair value is positive and as a liability when the fair value is negative. Any gain or loss arising from changes in fair value of the derivative financial instruments is taken directly to profit or loss. Day 1 profit or loss If the fair value of the derivative financial instrument at initial recognition differs from the transaction price and the fair value is not evidenced by a quoted price in an active market for an identical asset or liability (i.e. a Level 1 input) or a valuation technique that uses only data from observable markets, the difference between the fair value at initial recognition and the transaction price is the deferred and is only recognised as a gain or loss during the term of the derivative financial instrument using a systematic basis that reflects a change in a factor (including time) that market participants would take into account when pricing the derivative financial instrument. Cash and cash equivalents For the purpose of the consolidated statements of cash flows, cash and cash equivalents comprise cash on hand and demand deposits, and short term highly liquid investments that are readily convertible into known amounts of cash, are subject to an insignificant risk of changes in value, and have a short maturity of generally within three months when acquired, less bank overdrafts which are repayable on demand and form an integral part of the Group’s cash management. For the purpose of the consolidated statements of financial position, cash and cash equivalents comprise cash on hand and at banks, including term deposits, and assets similar in nature to cash, which are not restricted as to use. Provisions A provision is recognised when a present obligation (legal or constructive) has arisen as a result of a past event and it is probable that a future outflow of resources will be required to settle the obligation, provided that a reliable estimate can be made of the amount of the obligation. When the effect of discounting is material, the amount recognised for a provision is the present value at the end of the reporting period of the future expenditures expected to be required to settle the obligation. The increase in the discounted present value amount arising from the passage of time is included in finance costs in profit or loss. Income tax Income tax comprises current and deferred tax. Income tax relating to items recognised outside profit or loss is recognised outside profit or loss, either in other comprehensive income or directly in equity. Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authoritie

Significant Accounting Estimate

Significant Accounting Estimates and Judgments	12 Months Ended
	Dec. 31, 2020
Accounting judgements and estimates [Abstract]
Significant Accounting Estimates and Judgments	3. SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGEMENTS The preparation of the Group’s financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and their accompanying disclosures. Uncertainty about these assumptions and estimates could result in outcomes that could require a material adjustment to the carrying amounts of the assets or liabilities affected in the future. Judgements In the process of applying the Group’s accounting policies, management has made the following judgements, apart from those involving estimations, which have the most significant effect on the amounts recognised in the consolidated financial statements: Deferred tax and current/non-current classification of investments Significant judgements on the tax treatment of unrealised gain on certain investments under strategic investment segment are required in determining income and deferred tax provisions. The Group’s intention has always been to hold these investments for capital appreciation. However in the first few years post purchases of these investments there is uncertainty on whether it is probable that the unrealised gain can be treated as capital in nature and not assessable for profit tax under the relevant tax laws. As such, deferred tax provisions have been recorded in prior years. These investments have also been classified as current assets for the respective periods. Periodical reviews are performed by the Group to assess the intention of the Group and classification of the investments. During the year ended December 31, 2020, the Group carried out periodical review based on the internal policy and re-evaluated the classification of these investments. With the passage of time, the Group considered there is sufficient evidential circumstance to demonstrate the Group’s intention to hold these investments for long term capital appreciation, and re-classified these investments as non-current assets. As the unrealised gain arising from the receipts of non-current assets should be treated as capital in nature under the relevant tax laws, accordingly deferred tax liabilities of HK$242,913,577 on the unrealised gain on investments is reversed and recognised as deferred tax credit during the year ended December 31, 2020. In cases where change in facts and circumstances which result in revision of the Group’s intention, a material further recognition or reversal of deferred tax liabilities may arise, which would be recognised in profit or loss for the period in which such further recognition or reversal takes place. Estimation uncertainty The key assumptions concerning the future and other key sources of estimation uncertainty at the end of the reporting period, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below: Fair value of unlisted equity investments As of December 31, 2019, the fair value of unlisted equity investment-Investment B (Note 13) was based on the prices of recent transactions of the same instruments with the same rights of the same issuers that occurred within 12 months. As of December 31, 2020, the fair value of this investment was estimated using an equity value allocation (“EVA”) valuation technique relying on the hybrid method, considering three scenarios in a probability weighted expected return method (‘‘PWERM’’) framework, and using the option pricing method (‘‘OPM’’) to allocate value in the IPO exit scenario. The valuation requires the management to consider three scenarios in its PWERM analysis which are liquidation event, redemption event and IPO exit event and hence they were subject to uncertainty. The input of the equity value of unlisted equity investment-Investment B was estimated using forward price/earnings (“P/E”) ratio as the valuation multiple. As of December 31, 2019 and 2020, the fair value of the unlisted equity investment-Investment C (Note 13) was estimated using an EVA valuation technique relying on the hybrid method, considering three scenarios in a PWERM framework, and using the OPM to allocate value in the IPO exit scenario. The valuation requires the management to consider three scenarios in its PWERM analysis which are liquidation event, redemption event and IPO exit event and hence they were subject to uncertainty. The input of the equity value of unlisted equity investment-Investment C was estimated using forward P/E ratio as the valuation multiple. As of December 31, 2019 and 2020, the fair value of unlisted equity investment-Investment D (Note 13) was determined by considering the prices of recent transactions of the same instruments with the same rights of the same issuers. As of December 31, 2020, the fair value of unlisted equity investment-Investment E (Note 13) was based on the prices of recent transactions of the same instruments with the same rights of the same issuers that occurred within 12 months. As of December 31, 2020, the fair value of unlisted equity investment-Investment F (Note 13) was estimated with reference to the unadjusted market price of the underlying listed equity securities. Fair value of derivative financial asset The fair value of the derivative financial asset was estimated using the Geometric Brownian Motion and simulated using the Monte Carlo Simulation (“MCS”) and was determined based on significant observable and unobservable inputs including the current stock price, dividend yield, risk-free rate, volatility of the underlying equity securities and the credit rating of the counterparty on the valuation date. MCS is a financial model that is commonly used to simulate variables that are highly unpredictable. The valuations performed using the MCS require management to estimate the volatility of the underlying equity securities and the credit rating of the counterparty and hence the valuations are subject to estimation uncertainty. The Group classifies the fair value of derivative financial instrument as Level 3.

Operating Segment Information

Operating Segment Information	12 Months Ended
	Dec. 31, 2020
Disclosure of operating segments [abstract]
Operating Segment Information	4. OPERATING SEGMENT INFORMATION For management purposes, the Group is organised into business units based on their products and services and has three reportable operating segments as follows: (a) The investment banking segment assists customers in raising funds through equity and debt financing, providing underwriting for initial public offerings (“IPOs”), private placements and debt issuances and providing financial advisory services (including but not limited to domestic and cross border advisory services for merger and acquisitions). (b) The asset management segment provides a wide range of asset management products and services, including in relation to listed equity, fixed income securities, hedge funds, structured products, foreign exchange, private equities, alternative investments, discretionary account services, investment advisory services and external asset management services. (c) The strategic investment segment engages in proprietary investments and management of investment portfolio in Hong Kong and China. Management monitors the results of the Group’s operating segments separately for the purpose of making decisions about resources allocation and performance assessment. Segment performance is evaluated based on reportable segment result, which is a measure of profit before tax from operations. The profit before tax from operations is measured after allocation of ECL, attributable costs of specialized staff, commission paid to asset management segment and finance costs to strategic investment segment consistently with the Group’s profit before tax from operations. Net fair value change on derivative financial liability, other income and corporate expenses such as staff costs not directly attributable to segment, office rental and administrative expenses are excluded from such measurement. Segment assets exclude property, plant and equipment, amounts due from immediate holding company, prepayments, deposits and other receivables, cash and bank balances and other unallocated head office and corporate assets as these assets are managed on a group basis. Segment liabilities exclude tax payable, deferred tax liabilities, convertible bond, derivative financial liability, bank borrowings and other unallocated head office and corporate liabilities as these liabilities are managed on a group basis. Segment revenue and results For the year ended December 31, 2018 Investment Asset Strategic Total HK$ HK$ HK$ HK$ Segment revenue Revenue —from contracts with 288,591,129 78,946,986 — 367,538,115 —others — — 355,688,019 355,688,019 Intersegment — 172,809 — 172,809 288,591,129 79,119,795 355,688,019 723,398,943 Reconciliation Intersegment (172,809 ) 723,226,134 Segment results 254,901,096 57,385,943 350,306,996 662,594,035 Unallocated other income 15,372,350 Unallocated finance costs (3,666,040 ) Corporate and other unallocated expenses (65,335,119 ) Profit before tax 608,965,226 Other segment information Depreciation 334,841 Capital expenditure 14,214 For the year ended December 31, 2019 Investment Asset Strategic Total HK$ HK$ HK$ HK$ Segment revenue Revenue —from contracts with 455,955,912 124,050,364 — 580,006,276 —others — — 624,167,735 624,167,735 455,955,912 124,050,364 624,167,735 1,204,174,011 Segment results 413,354,182 109,182,198 624,167,734 1,146,704,114 Unallocated other income 22,088,780 Unallocated finance costs (27,705,955 ) Corporate and other unallocated expenses (151,832,967 ) Profit before tax 989,253,972 Other segment information Depreciation 113,919 Capital expenditure 13,710 For the year ended December 31, 2020 Investment Asset Strategic Total HK$ HK$ HK$ HK$ Segment revenue Revenue —from contracts with customers 376,324,880 230,938,245 — 607,263,125 —others — — 511,277,048 511,277,048 376,324,880 230,938,245 511,277,048 1,118,540,173 Segment results 339,933,098 225,338,122 511,277,048 1,076,548,268 Unallocated other income 111,867,468 Unallocated finance costs (21,510,079 ) Unallocated net changes in fair value on derivative financial liability 7,765,148 Corporate and other unallocated expenses (173,250,588 ) Profit before tax 1,001,420,217 Other segment information Depreciation 30,374 Capital expenditure 110,734 Segment assets and liabilities December 31, 2019 2020 HK$ HK$ Segment assets Investment banking 64,813,018 21,976,920 Asset management 539,713,339 265,452,001 Strategic investments 2,894,217,916 3,280,242,681 Total segment assets 3,498,744,273 3,567,671,602 Unallocated corporate assets 4,771,948,379 6,958,618,685 Total assets 8,270,692,652 10,526,290,287 Segment liabilities Asset management 492,039,337 249,257,201 Strategic investments 317,722,439 — Total segment liabilities 809,761,776 249,257,201 Unallocated corporate liabilities 632,435,932 552,857,491 Total liabilities 1,442,197,708 802,114,692 Geographical information The following table sets forth the Group’s revenue from contracts with customer by geographical areas based on the location of the customers: For the year ended December 31, 2018 Investment Asset Total HK$ HK$ HK$ Hong Kong 128,880,466 39,451,207 168,331,673 Mainland China 158,780,244 36,615,872 195,396,116 Others 930,419 2,879,907 3,810,326 288,591,129 78,946,986 367,538,115 For the year ended December 31, 2019 Investment Asset Total HK$ HK$ HK$ Hong Kong 118,086,900 21,441,042 139,527,942 Mainland China 300,078,498 92,797,260 392,875,758 United States 30,342,514 3,229,613 33,572,127 Others 7,448,000 6,582,449 14,030,449 455,955,912 124,050,364 580,006,276 For the year ended December 31, 2020 Investment Asset Total HK$ HK$ HK$ Hong Kong 212,766,711 21,836,318 234,603,029 Mainland China 163,447,101 192,391,853 355,838,954 Others 111,068 16,710,074 16,821,142 376,324,880 230,938,245 607,263,125 The Group’s revenue is derived solely from its operations in Hong Kong based on the location in which contracts were executed and services were rendered. As of December 31, 2019 and 2020, non-current Information about major customers During the year ended December 31, 2018, 2019 and 2020, no revenue derived from a single customer accounted for 10% or more of the total revenue of the Group.

Revenue and Other Income

Revenue and Other Income	12 Months Ended
	Dec. 31, 2020
Disclosure of disaggregation of revenue from contracts with customers [abstract]
Revenue and Other Income	5. REVENUE AND OTHER INCOME An analysis of revenue is as follows: For the year ended December 31, 2018 2019 2020 HK$ HK$ HK$ Revenue from contracts with customers Investment banking Investment banking fee and income 288,591,129 455,955,912 376,324,880 Asset management Management fee and performance-based incentive fee 43,465,186 103,509,196 196,352,216 Brokerage and handling fees 31,393,570 19,383,099 33,359,007 Others 4,088,230 1,158,069 1,227,022 78,946,986 124,050,364 230,938,245 367,538,115 580,006,276 607,263,125 Revenue from other sources Strategic investments Dividend income 99,227,724 92,316,548 88,078,159 Gain related to disposed investment — 8,235,180 82,948,508 99,227,724 100,551,728 171,026,667 Net fair value changes on financial assets at fair value through profit or loss and stock loan -from listed equity shares, at quoted price 202,304,000 (683,060,000 ) (371,305,326 ) -from unlisted debt securities 86,000 — — -from unlisted equity shares 54,070,295 41,456,007 313,561,520 -from unlisted equity linked note — — 26,688,861 Total net fair value changes on financial assets at fair value through profit or loss and stock loan 256,460,295 (641,603,993 ) (31,054,945 ) Net fair value changes on derivative financial asset -from derivative financial asset — 1,165,220,000 371,305,326 355,688,019 624,167,735 511,277,048 Total revenue 723,226,134 1,204,174,011 1,118,540,173 (i) Disaggregated revenue information The Company assesses revenues based upon the nature or type of goods or services it provides and the operating segments of the related businesses. For more information on the operating segments, see Note 4, “Operating Segment Information”. The following tables present disaggregated revenue information: For the year ended December 31, 2018 Segments Investment Asset Strategic Total HK$ HK$ HK$ HK$ Investment banking Underwriting commission and brokerage fee 217,002,789 — — 217,002,789 Financial advisory fee 71,588,340 — — 71,588,340 Asset management Management fee and performance-based incentive fee — 43,465,186 — 43,465,186 Brokerage and handling fee — 31,393,570 — 31,393,570 Strategic investment Net fair value changes on financial assets at fair value through profit or loss and stock loan — — 256,460,295 256,460,295 Dividend income — — 99,227,724 99,227,724 Others — 4,088,230 — 4,088,230 Total 288,591,129 78,946,986 355,688,019 723,226,134 Segments Investment Asset Total HK$ HK$ HK$ Timing of revenue recognition Services transferred at a point in time 217,002,789 35,481,800 252,484,589 Services transferred over time 71,588,340 43,465,186 115,053,526 Total revenue from contracts with customers 288,591,129 78,946,986 367,538,115 For the year ended December 31, 2019 Segments Investment Asset Strategic Total HK$ HK$ HK$ HK$ Investment banking Underwriting commission and brokerage fee 403,573,912 — — 403,573,912 Financial advisory fee 52,382,000 — — 52,382,000 Asset management Management fee and performance-based incentive fee — 103,509,196 — 103,509,196 Brokerage and handling fee — 19,383,099 — 19,383,099 Strategic investment Net fair value changes on financial assets at fair value through profit or loss and stock loan — — (641,603,993 ) (641,603,993 ) Net fair value changes on derivative financial asset — — 1,165,220,000 1,165,220,000 Gain related to disposed investment — — 8,235,180 8,235,180 Dividend income — — 92,316,548 92,316,548 Others — 1,158,069 — 1,158,069 Total 455,955,912 124,050,364 624,167,735 1,204,174,011 Segments Investment Asset Total HK$ HK$ HK$ Timing of revenue recognition Services transferred at a point in time 403,573,912 20,541,168 424,115,080 Services transferred over time 52,382,000 103,509,196 155,891,196 Total revenue from contracts with customers 455,955,912 124,050,364 580,006,276 For the year ended December 31, 2020 Segments Investment Asset Strategic Total HK$ HK$ HK$ HK$ Investment banking Underwriting commission and brokerage fee 165,472,605 — — 165,472,605 Financial advisory fee 210,852,275 — — 210,852,275 Asset management Management fee and performance-based incentive fee — 196,352,216 — 196,352,216 Brokerage and handling fee — 33,359,007 — 33,359,007 Strategic investment Net fair value changes on financial assets at fair value through profit or loss and stock loan — — (31,054,945 ) (31,054,945 ) Net fair value changes on derivative financial asset — — 371,305,326 371,305,326 Gain related to disposed investment — — 82,948,508 82,948,508 Dividend income — — 88,078,159 88,078,159 Others — 1,227,022 — 1,227,022 Total 376,324,880 230,938,245 511,277,048 1,118,540,173 Segments Investment Asset Total HK$ HK$ HK$ Timing of revenue recognition Services transferred at a point in time 165,472,605 34,586,029 200,058,634 Services transferred over time 210,852,275 196,352,216 407,204,491 Total revenue from contracts with customers 376,324,880 230,938,245 607,263,125 The following table shows the amounts of revenues recognised in the current period that were included in the contract liabilities at the beginning of the reporting period: As of December 31, 2019 2020 HK$ HK$ Revenue recognised that was included in contract liabilities at the beginning of the reporting period Asset management 39,296,815 94,328,532 (ii) Performance obligations The transaction prices allocated to the remaining performance obligations of asset management services (unsatisfied or partially unsatisfied) as of December 31, 2019 and 2020 are as follows: As of December 31, 2019 2020 HK$ HK$ Within one year 75,077,754 35,716,912 More than one year 36,896,409 11,554,086 111,974,163 47,270,998 The performance obligations expected to be recognised in more than one year relate to upfront fee that are to be satisfied within two years. All the other remaining performance obligations are expected to be recognised within one year. Other income For the year ended December 31, 2018 2019 2020 HK$ HK$ HK$ Bank interest income 7,681 1,115,839 67,783 Interest income from the immediate holding company (Note 28(a)(iv)) (Note 28(b)(i)) — 17,562,104 101,159,079 Other income from a fellow subsidiary (Note 28(b)(iv)) 3,666,040 — — Government grants — — 3,061,665 Others 11,719,054 3,412,325 7,578,941 15,392,775 22,090,268 111,867,468 During the current year, the Group recognised government grants of HK$3,061,665 applicable to Covid-19

Operating Expenses

Operating Expenses	12 Months Ended
	Dec. 31, 2020
Operating Income Expense [Abstract]
Operating Expenses	6. OTHER OPERATING EXPENSES Other operating expenses included in the consolidated statements of profit or loss and other comprehensive income are as follows: For the year ended December 31, 2018 2019 2020 HK$ HK$ HK$ Other operating expenses Marketing and brand promotional expenses 11,864,097 12,903,989 5,696,606 Premises costs and office utilities —Premises costs 9,465,094 11,965,344 14,244,127 —Office utilities 6,117,640 9,152,802 6,601,790 15,582,734 21,118,146 20,845,917 Traveling and business development expenses 10,860,318 19,362,587 5,636,354 Commissions and bank charges 5,197,984 2,307,050 1,957,433 Office and maintenance expenses 1,603,484 1,430,834 175,348 Administrative service fee — 12,000,000 24,330,000 Legal and professional fees —Auditor’s remuneration 789,000 11,402,267 12,068,575 —Other legal and professional fees 1,650,070 11,776,501 12,434,767 —Professional indemnity expense — — 11,811,165 2,439,070 23,178,768 36,314,507 Staff welfare and staff recruitment expenses 3,659,523 2,471,705 1,223,673 Others —Depreciation 334,841 113,919 30,374 —Foreign exchange differences, net 382,757 12,596,647 3,222,789 —Other expenses 657,299 7,213,210 4,290,210 1,374,897 19,923,776 7,543,373 52,582,107 114,696,855 103,723,211

Staff Costs

Staff Costs	12 Months Ended
	Dec. 31, 2020
Classes of employee benefits expense [abstract]
Staff Costs	7. STAFF COSTS For the year ended December 31, 2018 2019 2020 HK$ HK$ HK$ Salaries and bonuses 67,187,493 93,703,848 93,660,617 Pension scheme contributions (defined contribution schemes) 837,020 903,649 749,664 68,024,513 94,607,497 94,410,281

Finance Costs

Finance Costs	12 Months Ended
	Dec. 31, 2020
Finance Costs [Abstract]
Finance Costs	8. FINANCE COSTS An analysis of finance costs is as follows: For the year ended December 31, 2018 2019 2020 HK$ HK$ HK$ Interests on margin loans payable 9,047,063 27,705,955 12,475,296 Interests on convertible bond — — 7,717,348 Interests on bank borrowings — — 1,317,435 9,047,063 27,705,955 21,510,079

Income Tax Expense_(Credit)

Income Tax Expense/(Credit)	12 Months Ended
	Dec. 31, 2020
Major components of tax expense (income) [abstract]
Income Tax Expense/(Credit)	9. INCOME TAX EXPENSE/(CREDIT) Hong Kong profits tax has been provided at the rate of 16.5% (2019: 16.5%; 2018: 16.5%) on the estimated assessable profits arising in Hong Kong: For the year ended December 31, Note 2018 2019 2020 HK$ HK$ HK$ Hong Kong profits tax Charge for the year 43,127,820 69,585,469 96,708,600 Overprovision in prior year (2,359,495 ) — (143,606 ) Deferred tax 3, 23 33,148,500 79,556,400 (242,913,577 ) The People’s Republic of China withholding tax c 9,922,772 9,207,649 8,807,816 83,839,597 158,349,518 (137,540,767 ) On March 21, two-tiered 28, two-tiered two-tiered The directors of the Company considered the amount involved upon implementation of the two-tiered A reconciliation of tax expense/(credit) and profit before tax at the Hong Kong statutory tax rate in which the Group’s major operating subsidiaries are domiciled is as follows: For the year ended December 31, 2018 2019 2020 HK$ HK$ HK$ Profit before tax 608,965,226 989,253,972 1,001,420,217 Tax at statutory tax rate of 16.5% 100,479,262 163,226,906 165,234,336 Tax effect of two-tiered — — (165,000 ) Tax effect of non-taxable (25,554,680 ) (23,255,305 ) (79,190,106 ) Tax effect of non-deductible 1,355,050 8,952,076 10,887,971 Tax effect of unrecognised temporary difference 16,553 223,434 (25,011 ) Reversal of deferred tax liability — — (242,913,577 ) Tax effect of tax loss not recognised 10,797 24,541 — Overprovision in prior year (2,359,495 ) — (143,606 ) Utilization of tax losses previously not recognised (30,662 ) (29,783 ) (33,590 ) Withholding tax on the dividend income 9,922,772 9,207,649 8,807,816 Income tax expense/(credit) 83,839,597 158,349,518 (137,540,767 )

Earnings Per Share Attributable

Earnings Per Share Attributable To Ordinary Equity Holders of The Parent	12 Months Ended
	Dec. 31, 2020
Earnings/(loss) Per Share Attributable To Ordinary Equity Holders of The Parent
Earnings Per Share Attributable To Ordinary Equity Holders of The Parent	10. EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE PARENT The Company’s ordinary shares are divided into Class A ordinary shares and Class B ordinary shares. Holders of Class A ordinary shares and Class B ordinary shares have the same rights except for voting and conversion rights. Each Class A ordinary share is entitled to one vote and is not convertible into Class B ordinary share under any circumstances. Each Class B ordinary share is entitled to twenty votes and is convertible into one Class A ordinary share at any time by the holder thereof. The basic earnings per share attributable to Class A ordinary equity holders and Class B ordinary equity holders are calculated by dividing the profit for the year attributable to Class A ordinary equity holders and Class B ordinary equity holders of the parent by the number of Class A ordinary shares and Class B ordinary shares, respectively, as if the Reorganisation had taken place on January 1, 2018 as mentioned in Note 1.2. The diluted earnings per share attributable to Class A ordinary equity holders and Class B ordinary equity holders are based on the profit for the year attributable to Class A ordinary equity holders and Class B ordinary equity holders of the parent, adjusted to reflect the interest on the convertible bond of HK$7,717,348, fair value changes on the derivative component of the convertible bonds of HK$7,765,148 and the foreign exchange effect of the convertible bonds of HK$528,958. The weighted average number of ordinary shares used in the calculation is the number of ordinary shares in issue during the year, as used in the basic earnings per share calculation plus the weighted average number of ordinary shares assumed to have been issued at no consideration on the deemed exercise or conversion of all dilutive potential ordinary shares into ordinary shares. Basic and diluted earnings per share for each of the periods presented are calculated as follows: For the year ended December 31, 2018 2019 2020 Basic earnings per share: Numerator: Profit attributable to ordinary equity holders of the parent used in the basic earnings per share calculation (HK$)-basic Class A — 69,906,757 249,206,548 Profit attributable to ordinary equity holders of the parent used in the basic earnings per share calculation (HK$)-basic Class B 468,061,079 868,366,128 810,766,722 Denominator: Weighted average number of Class A ordinary shares outstanding—basic — 16,112,737 57,474,495 Weighted average number of Class B ordinary shares outstanding—basic 200,000,001 200,148,822 186,987,093 Basic earnings per share (HK$) Class A — 4.34 4.34 Basic earnings per share (HK$) Class B 2.34 4.34 4.34 Diluted earnings per share: Numerator: Profit attributable to ordinary equity holders of the parent used in the diluted earnings per share calculation (HK$)-diluted Class A — 69,906,757 248,629,790 Profit attributable to ordinary equity holders of the parent used in the diluted earnings per share calculation (HK$)-diluted Class B 468,061,079 868,366,128 810,766,722 Denominator: Weighted average number of Class A ordinary shares outstanding—diluted — 16,117,254 58,966,142 Weighted average number of Class B ordinary shares outstanding—diluted 200,000,001 200,204,936 186,987,093 Diluted earnings per share (HK$) Class A — 4.34 4.22 Diluted earnings per share (HK$) Class B 2.34 4.34 4.34 Number of shares For the year ended December 31, 2018 2019 2020 Shares: Weighted average number of Class A ordinary shares in issue during the year used in the basic earnings per share calculation — 16,112,737 57,474,495 Effect of dilution – weighted average number of ordinary shares: Warrants — 864 — Convertible bond — 3,653 1,491,647 — 16,117,254 58,966,142 Weighted average number of Class B ordinary shares in issue during the year used in the basic earnings per share calculation 200,000,001 200,148,822 186,987,093 Effect of dilution – weighted average number of ordinary shares: Warrants — 10,728 — Convertible bond — 45,386 — 200,000,001 200,204,936 186,987,093

Accounts Receivable

Accounts Receivable	12 Months Ended
	Dec. 31, 2020
Trade and other receivables [abstract]
Accounts Receivable	11. ACCOUNTS RECEIVABLE As of December 31, Notes 2019 2020 HK$ HK$ Receivable from investment banking services (i) 66,740,188 21,976,920 Receivable from brokers and clearing house (ii) 261,329,847 19,864,662 Clients’ receivables (ii) 18,309,539 35,508,668 346,379,574 77,350,250 Notes: (i) The normal settlement terms of receivables from investment banking services are specific terms mutually agreed between the contracting parties. Receivable from investing banking services is non-interest bearing. As of January 1, 2019, the Group has receivable arising from contracts with customers in investment banking services of (ii) As of December 31, 2020, included in the clients’ receivables are non-interest bearing receivables arising from asset management service of HK$34,208,077 (2019: HK$9,428,553). There are normal settlement terms of those receivables which are specific terms mutually agreed between the contracting parties. As of January 1, 2019, the Group has receivables arising from contracts with customers in asset management service of HK$5,512,422. The normal settlement terms of clients’ receivables and receivable from brokers and clearing house arising from asset management services are 2 days after trade date or at specific terms agreed with brokers and clearing house. Overdue clients’ receivable is interest-bearing. As of December 31, 2019 and 2020, the Group’s clients’ receivables of The Group seeks to maintain strict control over its outstanding receivables and has a credit control team to minimise credit risk. Overdue balances are reviewed regularly by senior management. The Group does not hold any collateral over its accounts receivable. An aging analysis of the accounts receivable as of the end of the reporting periods, based on the invoice date, net of loss allowance is as follows: As of December 31, 2019 2020 HK$ HK$ Not yet due 294,541,514 67,241,210 Past due Within 1 month 41,032,006 7,797,011 1 to 3 months 5,232,320 221,183 Over 3 months 5,573,734 2,090,846 346,379,574 77,350,250 As of An impairment analysis of clients’ receivables, receivable from brokers and clearing house, and receivable from investment banking services is performed at each reporting date using probability of default approach to measure expected credit losses. The probability of default and loss given default are estimated based on the Group’s assessment on credit ratings of the accounts receivable and historical loss experience. The notion or categorization of credit risk rating is for internal risk management purposes and is not equivalent to the similar terms applied by other credit rating agencies. The calculation reflects the probability-weighted outcome, the time value of money and reasonable and supportable information that is available at the reporting date about past events, current conditions and forecasts of future economic conditions. During the year ended December 31, 2020, an impairment for loss allowance of HK$17,109,001 was made on receivables with gross amount of HK$17,109,001 arising from investment banking service, and was further written off as the directors of the Company considered there was no realistic prospect of recovery. During the year ended December 31, 2018 and 2019, no impairment for loss allowance was recorded. As of of Internal credit risk rating AAA AA A BBB BB CCC Total As of Expected credit loss rate — 0.14 % 0.17 % 0.33 % 0.59 % 18.24 % — Gross carrying amount (HK$’000) — 141,440 64,914 136,928 1,826 1,272 346,380 Internal credit risk rating AAA AA A BBB BB CCC Total As of Expected credit loss rate — — 0.07 % 0.05 % — 0.56 % — Gross carrying amount (HK$’000) — — 21,977 52,723 — 2,650 77,350 The expected credit losses as of s recorded

Prepayments, Deposits And Other

Prepayments, Deposits And Other Receivables	12 Months Ended
	Dec. 31, 2020
Prepayments, Deposits And Other Receivables [Abstract]
Prepayments, Deposits And Other Receivables	12. PREPAYMENTS, DEPOSITS AND OTHER RECEIVABLES As of December 31, 2019 2020 HK$ HK$ Prepayments 35,085,959 23,221,564 Deposits 451,593 559,933 Other receivables 903,420 1,090,894 36,440,972 24,872,391 Deposits and other receivables mainly represent deposits with the Hong Kong Stock Exchange. Where applicable, an impairment analysis is performed at each reporting date by considering the probability of default of comparable companies with published credit ratings. As o f of None of the above assets is either past due or impaired. The financial assets included in the above balances relate to receivables for which there was no recent history of default.

Financial Assets At Fair Value

Financial Assets At Fair Value Through Profit Or Loss And Stock Loan	12 Months Ended
	Dec. 31, 2020
Financial Assets At Fair Value Through Profit or Loss And Stock Loan [Abstract]
Financial Assets At Fair Value Through Profit Or Loss And Stock Loan	13. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS AND STOCK LOAN As of December 31, 2019 2020 HK$ HK$ Financial assets at fair value through profit or loss, other than stock loan 1,572,697,716 1,377,856,715 Stock loan 1,200,980,200 878,483,400 Total financial assets at fair value through profit or loss 2,773,677,916 2,256,340,115 Listed equity shares, at quoted price —Investment A 2,450,980,000 1,001,399,213 Total listed equity shares, at quoted price 2,450,980,000 1,001,399,213 Unlisted equity shares —Investment B 77,023,394 85,706,112 —Investment C 47,149,360 24,111,436 —Investment D 198,525,162 190,038,137 —Investment E — 892,565,280 Total unlisted equity shares 322,697,916 1,192,420,965 Unlisted equity linked note —Investment F — 62,519,937 Total unlisted equity linked note — 62,519,937 2,773,677,916 2,256,340,115 The above unlisted investments at December 31, 2019 and 2020 were equity shares investments issued by enterprises. Financial assets at fair value through profit or loss are categorised into levels 1 and 3. Refer to Note 30 for more information. As of On September 17, 2017, the Group entered into certain stock lending agreements with a shareholder of our immediate holding company, pursuant to which the Group lent certain listed equity shares of Investment A to the shareholder, who further pledged the shares to a third party as collateral as of December 31, 2020. On May 1, 2020, the Group entered into a stock lending agreement with a fellow subsidiary, pursuant to which the Group lent certain listed equity shares of Investment A to the fellow subsidiary. These listed shares did not qualify for derecognition as the Group retained substantially all the risks and rewards of these investment. As such, the stock lending agreements were continued to be recognized on the consolidated statements of financial position under the caption “stock loan”. As of December 31, 2019 and 2020, the fair values of the listed equity shares underlying the stock loan were HK$1,200,980,200 and HK$878,483,400 respectively. In addition, the net fair value changes on the stock loan were HK$334,699,400 and HK$324,855,300 for the years ended December 31, 2019 and 2020, respectively. During the year ended December 31, 2020, the Group obtained 19.2% ownership interest in Investment E in exchange for extinguishment of HK$556,161,528 of current accounts due from the immediate holding company. The Group does not have rights to nominate board representation to direct the relevant activities of the investee; accordingly, the Group concluded that it does not have significant influence to direct the relevant activities of the investee and classified the investment as a financial asset at fair value through profit or loss. During the year ended December 31, 2020, on the Group’s periodic review, the Group has re-evaluated the classification of these investments and has reclassified these investments as non-current. Subsequent to December 31, 2020, the unlisted equity linked note was disposed of with a gain of HK$145,162,859.

Derivative Financial Asset

Derivative Financial Asset	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about financial instruments [abstract]
Derivative Financial Asset	14. DERIVATIVE FINANCIAL ASSET On April 1, 2019, two subsidiaries of the Group entered into “Upside Participation and Profit Distribution Agreements” (the “Agreements”) with a counterparty in relation to the movement of the share price of the entirety of the listed shares of Investment A (Note 13) that the Group owns (“Underlying Assets”). The Agreements have an original term of 12 months and can be extended for any further period or terminated at any time upon mutual agreement of the contracting parties. Pursuant to the Agreements: (a) The counterparty is entitled to 25% (the “Sharing Percentage”) of the gain of the Underlying Assets if the quoted market price or disposal price of the Underlying Assets is higher than HK$8.1 per share (the “Underlying Price”); (b) The counterparty shall pay a sum equivalent to the loss if the quoted market price or disposal price of the Underlying Assets is lower than Underlying Price (“Participation Cost”); and (c) Dividend or cash distributions generated from the Underlying Assets during the term of the Agreements shall be received by the Group for its sole benefit and shall not be included in the computation of the Profit or the Participation Cost. Further addendums to the Agreements were entered into on June 30, July 1, September 30 and December 31, 2019, March 31, June 26, June 30, September 30 and December 31, 2020 (the “Addendums”), where: • On June 30, 2019, the term of the Agreements was modified from 12 months to 3 months and could be roll-forward for an additional three-month period upon mutual agreement between the contracting parties provided that the Underlying Assets are not fully disposed by the Group on the termination date. • On July 1, 2019, the Agreements were extended for a 3-month 8.1 9.0 • On September 30 and December 31, 2019 and March 31, 2020, the Agreements were extended for another three-month period and thus lastly to June 30, 2020. • On June 26, 2020, the underlying listed shares have been partially sold, in which 176,766,469 5.5 618,682,641 176,766,469 • On June 30 and September 30, the Agreements were further extended for an additional three months period and thus till December 31, 2020. • On October 27, 2020, the Agreements were novated by the original counterparty to an external third party. • On December 31, 2020 and March 31, 2021, the Agreements were extended for an additional three months period and thus till June 30, 2021. In December 2019, the controlling person of the original counterparty, with which the Group has entered into the Agreements, was appointed as a Director to the Board of Directors of the Company. Accordingly, the counterparty became a related party of the Company. The Agreements together with the Addendums satisfied the definition of derivative financial asset in accordance with IFRS 9 and were stated at fair value with any subsequent changes recognised in profit or loss. In addition, since the transaction price of the derivative financial asset differed from the fair value at origination and the fair value was based on a valuation technique using unobservable inputs, the difference between the transaction price and the fair value (Day 1 profit or loss) was deferred and amortized during the term of the Agreements. The table below shows the movement of: (i) the profit or loss not recognised when the derivative financial asset was initially recognised (Day 1 profit or loss); (ii) net carrying amount presented in the consolidated statements of financial position; and (iii) Net changes in fair value on derivative financial asset presented in the consolidated statements of profit or loss and other comprehensive income Fair value using valuation Day 1 (profit)/loss Net carrying Net changes in fair value HK$ HK$ HK$ HK$ At — — — — Initial transaction on April 1, 2019 355,294,216 (355,294,216 ) — — Recogni s - Changes in fair value 106,129,339 — 106,129,339 106,129,339 - Recognition of day 1 profit or loss — 88,338,180 88,338,180 88,338,180 A t 461,423,555 (266,956,036 ) 194,467,519 194,467,519 Contract renegotiation on July 1, 2019 115,758,384 (115,758,384 ) — — A t 577,181,939 (382,714,420 ) 194,467,519 194,467,519 Recogni s - Changes in fair value 230,436,061 — 230,436,061 230,436,061 - Recognition of day 1 profit or loss — 382,714,420 382,714,420 382,714,420 A t 807,618,000 — 807,618,000 807,618,000 Contract renegotiation on September 30, 2019 1,538,635 (1,538,635 ) — — At September 30, 2019 809,156,635 (1,538,635 ) 807,618,000 807,618,000 Recogni s - Changes in fair value 356,063,365 — 356,063,365 356,063,365 - Recognition of day 1 profit or loss — 1,538,635 1,538,635 1,538,635 A t 1,165,220,000 — 1,165,220,000 1,165,220,000 Contract renegotiation on December 31, 2019 (17,847,221 ) 17,847,221 — — A t 1,147,372,779 17,847,221 1,165,220,000 1,165,220,000 Fair value using valuation Day 1 (profit)/loss Net carrying Net changes in fair value HK$ HK$ HK$ HK$ A t 1,147,372,779 17,847,221 1,165,220,000 — Recogni s - Changes in fair value 307,143,221 — 307,143,221 307,143,221 - Recognition of day 1 profit or loss — (17,847,221 ) (17,847,221 ) (17,847,221 ) At March 31, 2020 1,454,516,000 — 1,454,516,000 289,296,000 Contract renegotiation on March 31, 2020 (17,215,921 ) 17,215,921 — — At March 31, 2020 1,437,300,079 17,215,921 1,454,516,000 289,296,000 Recognised in profit and loss prior to contract renegotiation on June 30, 2020 - Changes in fair value (13,291,518 ) — (13,291,518 ) (13,291,518 ) - Partial settlement on June 26, 2020 (618,682,641 ) — (618,682,641 ) — - Gain related to disposed investment 106,059,881 — 106,059,881 — - Recognition of day 1 profit or loss — (17,215,921 ) (17,215,921 ) (17,215,921 ) At June 30, 2020 911,385,801 — 911,385,801 258,788,561 Contract renegotiation on June 30, 2020 (3,679,712 ) 3,679,712 — — At June 30, 2020 907,706,089 3,679,712 911,385,801 258,788,561 Recogni s - Changes in fair value 93,693,124 — 93,693,124 93,693,124 - Recognition of day 1 profit or loss — (3,679,712 ) (3,679,712 ) (3,679,712 ) At September 30, 2020 1,001,399,213 — 1,001,399,213 348,801,973 Contract renegotiation on Septemb 0 (3,040,097 ) 3,040,097 — — At September 30, 2020 998,359,116 3,040,097 1,001,399,213 348,801,973 Recognised in profit and loss prior to contract renegotiation on December 31, 2020 - Changes in fair value 25,543,450 — 25,543,450 25,543,450 - Recognition of day 1 profit or loss — (3,040,097 ) (3,040,097 ) (3,040,097 ) A 1,023,902,566 — 1,023,902,566 371,305,326 Contract renegotiation on December 31, 2020 12,266,453 (12,266,453 ) — — At December 31, 2020 1,036,169,019 (12,266,453 ) 1,023,902,566 371,305,326 As of December 31, 2020, the counterparty of the derivative contracts pledged certain listed securities as collateral in favour of the Company which had a market value of HK$2,860,797,360 (2019:HK$962,442,277).

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2020
Disclosure Of Detailed Information About Other Assets [Abstract]
Other Assets	15. OTHER ASSETS The G r As of December 31, 2019 2020 HK$ HK$ Segregated clients’ bank accounts balances: - Asset management business 225,439,918 194,907,501 - Others 20,062,862 2,401,674 245,502,780 197,309,175

Cash And Bank Balances

Cash And Bank Balances	12 Months Ended
	Dec. 31, 2020
Cash and cash equivalents [abstract]
Cash And Bank Balances	16. CASH AND BANK BALANCES As of December 31, 2019 2020 HK$ HK$ Cash and cash equivalents: - Cash on hand 31,031 31,031 - General bank accounts 766,399,440 453,935,733 Total cash and cash equivalents 766,430,471 453,966,764 Cash at banks earns interest at floating rates based on daily bank deposit rates for all the periods. The bank balances are deposited with creditworthy banks with no recent history of default.

Property, Plant And Equipment

Property, Plant And Equipment	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about property, plant and equipment [abstract]
Property, Plant And Equipment	17. PROPERTY, PLANT AND EQUIPMENT Furniture Computer Total HK$ HK$ HK$ Cost: At January 1, 2019 11,090 4,059,924 4,071,014 Additions — 13,710 13,710 At December 31, 2019 and January 1, 2020 11,090 4,073,634 4,084,724 Additions — 110,734 110,734 At December 31, 2020 11,090 4,184,368 4,195,458 Accumulated depreciation: At January 1, 2019 (6,278 ) (3,933,530 ) (3,939,808 ) Charge for the year (2,218 ) (111,701 ) (113,919 ) At December 31, 2019 and January 1, 2020 (8,496 ) (4,045,231 ) (4,053,727 ) Charge for the year (2,218 ) (28,156 ) (30,374 ) At December 31, 2020 (10,714 ) (4,073,387 ) (4,084,101 ) Carrying amount: At January 1, 2019 4,812 126,394 131,206 At December 31, 2019 2,594 28,403 30,997 At December 31, 2020 376 110,981 111,357

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2020
Disclosure of Intangible assets [Abstract]
Intangible Assets	18. INTANGIBLE ASSETS HK$ Net carrying amount as of 15,171,170 The intangible assets represented securities trading licenses and trading right with indefinite useful lives because they are expected to contribute to the net cash flows of the Group indefinitely and therefore, are not amortized. The recoverable amount of the intangible assets is determined by reference to the market evidence of recent transaction prices for similar licensed corporations.

Accounts Payable

Accounts Payable	12 Months Ended
	Dec. 31, 2020
Trade and other payables [abstract]
Accounts Payable	19. ACCOUNTS PAYABLE As of Note 2019 2020 HK$ HK$ Clients’ payables (i) 256,423,531 138,747 Payables to clearing house and brokers (i) 9,062,629 1,311,748 Clients’ monies held on trust (Note 15) 226,553,176 200,535,707 492,039,336 201,986,202 Note: (i) As of December 31, 2019 and 2020, payables to clearing house and brokers and clients’ payable arising from assets management business are repayable 2 days after trade date or at pre-agreed An ageing analysis of the accounts payable as of the end of the reporting period is as follows: As of December 31, 2019 2020 HK$ HK$ Within 1 month 265,486,160 1,450,495 Repayable on demand 226,553,176 200,535,707 492,039,336 201,986,202 The balances of accounts payable are unsecured and non-interest-bearing.

Margin Loans Payable

Margin Loans Payable	12 Months Ended
	Dec. 31, 2020
Trade and other payables [abstract]
Margin Loans Payable	20. MARGIN LOANS PAYABLE As of e w as of

Bank Borrowings

Bank Borrowings	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about borrowings [abstract]
Bank Borrowings	21. BANK BORROWINGS A currency analysis of bank borrowings as of the end of the reporting periods is as follows: As of December 31, 2019 2020 HK$ HK$ Hong Kong dollars — 116,000,000 United States dollars — 116,280,000 — 232,280,000 As of As of were of

Other Payables And Accruals

Other Payables And Accruals	12 Months Ended
	Dec. 31, 2020
Accrued Expenses And Other Liabilities [Abstract]
Other Payables And Accruals	22. OTHER PAYABLES AND ACCRUALS As of December 31, Notes 2019 2020 HK$ HK$ Accruals and other payables 66,043,431 81,054,895 Contract liabilities (i) 111,974,163 47,270,998 178,017,594 128,325,893 Note: (i) Contract liabilities include upfront fees received to deliver asset management services. Movements in contract liabilities during the years ended December 31, 2019 and 2020 are as follows: HK$ At January 1, 2019 55,111,818 Upfront fee received during the year 127,418,656 Revenue recognised during the year (70,556,311 ) At December 31, 2019 111,974,163 Upfront fee received during the year 38,201,342 Revenue recognised during the year (102,904,507 ) At December 31, 2020 47,270,998

Deferred Tax Liabilities

Deferred Tax Liabilities	12 Months Ended
	Dec. 31, 2020
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract]
Deferred Tax Liabilities	23. DEFERRED TAX LIABILITIES The movements in deferred tax liabilities during the years are as follows: Unrealised HK$ At January 1, 2019 163,357,177 Deferred tax charged to profit or loss during the year (Note 9) 79,556,400 At December 31, 2019 and January 1, 2020 242,913,577 Deferred tax credited to profit or loss during the year (Note 9) (242,913,577 ) At December 31, 2020 — During the year ended December 31, 2020, the Group had re-evaluated the temporary difference arising from unrealised gain on investment and considered it is probable that the investments are capital in nature and therefore not subjected to income tax under the relevant tax regulations based on the Group’s intention to hold the investments for long term capital appreciation. Accordingly, HK$242,913,577 of deferred tax liabilities were reversed and recognised as deferred tax credit. As of s

Convertible Bond and Derivative

Convertible Bond and Derivative Financial Liability	12 Months Ended
	Dec. 31, 2020
Borrowings [abstract]
Convertible Bond and Derivative Financial Liability	24. CONVERTIBLE BOND AND DERIVATIVE FINANCIAL LIABILITY On December 19, 2019, the Company issued 2% convertible bond with a principal amount of US$15,000,000 (equivalent to HK$117,418,500) with interest payable on maturity or redemption. There was no movement in the number of these convertible bond s Class A On initial recognition, the derivative component of the convertible bond is measured at fair value and presented as a derivative financial liability. Any excess of proceeds over the amount initially recognised as the derivative component is recognised as the non-derivative The movement of convertible bond during the years ended December 31, 2019 and 2020 are as follows: Liability Derivative HK$ HK$ At January 1, 2019 — — Convertible bond issued during the year 95,995,690 20,813,810 At December 31, 2019 95,995,690 20,813,810 Interest for the year 7,717,348 — Fair value gain recognised in profit or loss — (7,765,148 ) Exchange alignment (434,609 ) (94,349 ) At December 31, 2020 103,278,429 12,954,313

Share Capital and Capital Reser

Share Capital and Capital Reserve	12 Months Ended
	Dec. 31, 2020
Disclosure of classes of share capital [abstract]
Share Capital and Capital Reserve	25. SHARE CAPITAL AND CAPITAL RESERVE Each Class A ordinary share shall entitle the holder thereof to one vote on all matters subject to vote at general meetings of the Company, and each Class B ordinary share shall entitle the holder thereof to twenty votes on all matters subject to vote at general meetings of the Company. Each Class B ordinary share is convertible into one Class A ordinary share at any time by the holder thereof. Each Class A ordinary share is not convertible into Class B ordinary shares under any circumstances. Except for the voting rights and the conversion rights, the Class A ordinary shares and the Class B ordinary shares shall rank pari passu with one another and shall have the same rights, preferences, privileges and restrictions. As of Class B ordinary shares held by the controlling shareholder were converted into Class A ordinary shares. No Class B ordinary shares were converted into Class A ordinary shares for the years ended December 31, 2019. Numbers of shares Notes Class A Class B At January 1, 2018 and December 31, 2018 — 200,000,001 Exercise of warrants (i ) 1,666,666 — Pre-IPO (ii ) 8,236,838 — Initial public offering (iii ) 23,873,655 — New issuance of shares (iv ) 7,307,692 4,526,627 At December 31, 2019 41,084,851 204,526,628 Conver s 21,243,000 (21,243,000 ) At December 31, 2020 62,327,851 183,283,628 Notes: (i) On March 6, 2019, the Company issued warrants for an aggregate consideration of US$2 million (equiv a e ce (ii) Between April 26, 2019 and June 19, 2019, the Company issued 8,236,838 Class A ordinary shares to third parties investors for an aggregate consideration of US$53.5 million for the pre-IPO (iii) On August 5, 2019, the Company completed its Initial Public Offering (“IPO”) on the New York Stock Exchange under the symbol of “HKIB”. The Company issued an aggregate 23,873,655 ADSs, representing 23,873,655 Class A Ordinary Shares for total net proceeds of HK$1,507.2 mill i (iv) In December 2019, the Company issued an aggregate of 7,307,692 Class A ordinary shares and 4,526,627 Class B ordinary shares, both with par value US$0.0001 per share, for an aggregate amount of US$100 million (representing a per share price of US$8.45) to Value Partners Greater China High Yield Income Fund, Ariana Capital Investment Limited, and Infinity Power Investments Limited in the form of private placement. Infinity Power Investments Limited is a British Virgin Islands company wholly owned by Mr. Calvin Choi, founder

Perpetual Securities

Perpetual Securities	12 Months Ended
	Dec. 31, 2020
Disclosure Of Perpetual Securities [Abstract]
Perpetual Securities	26. PERPETUAL SECURITIES On May 14, 2020, the Company issued US$200,000,000 (equivalent to HK$1,550,020,000) and SGD50,000,000 (equivalent to HK$272,890,845) of perpetual securities at initial distribution rate of 7.25% p.a. (the “Perpetual Securities I”) and 4.5% p.a. (the “Perpetual Securities II”) which are listed on Hong Kong Stock Exchange and Singapore Stock Exchange respectively (collectively the “Perpetual Securities”). Of which, US$38,920,000 (equivalent to HK$301,633,892) of Perpetual Securities I and SGD14,740,000 (equivalent to HK$80,448,221) of Perpetual Securities II were issued in settlement for the redemption of Perpetual Securities issued by the immediate holding company in 2017. The consideration amounting to HK$382,082,113 was settled through the current account with the immediate holding company during the year ended December 31, 2020. The direct transaction costs attributable to the Perpetual Securities I and Perpetual Securities II in aggregate amounted to HK$4,460,393. Distributions of the Perpetual Securities I and Perpetual Securities II may be paid semi-annually in arrears on May 1 and November 1 in each year and may be deferred at the discretion of the Company unless a compulsory distribution payment event (including distributions to ordinary shareholders of the Company) has occurred. Following a deferral, arrears of distributions are cumulative. The Perpetual Securities I are unsecured, have no fixed maturity date and are callable at the Company’s option in whole on May 14, 2023 (“First Reset Date”) or any Distribution Payment Date falling after the First Reset Date at their principal amounts together with any accrued, unpaid or deferred distributions. The applicable distribution rate will reset, on First Reset Date and every three years after the First Reset Date, to the sum of the initial spread of 7.011% p.a., the Treasury Rate and a step-up The Perpetual Securities II are unsecured, have no fixed maturity date and are callable at the Company’s option in whole on May 14, 2025, which is five years after the issue date or any Distribution Payment Date thereafter at their principal amounts together with any accrued, unpaid or deferred distributions. The Perpetual Securities are included in equity in the Group’s consolidated financial statements as the Group does not have a contractual obligation to deliver cash or other financial assets arising from the issuances of the Perpetual Securities. For the year ended December 31, 2020, the profit attributable to holders of Perpetual Securities based on the applicable distribution rate, was HK$78,987,714, where any distribution could be deferred at the discretion of the Company unless a compulsory distribution payment event (including distributions to ordinary shareholders of the Company) has occurred. The Company dis tributed to the holders of perpetual securities during the year ended December 31, 2020.

Notes To The Consolidated State

Notes To The Consolidated Statements Of Cash Flows	12 Months Ended
	Dec. 31, 2020
Disclosure Of Cash Flow Information [Abstract]
Notes To The Consolidated Statements Of Cash Flows	27. NOTES TO THE CONSOLIDATED STATEMENTS OF CASH FLOWS (a) Major non-cash Save as disclosed elsewhere in these consolidated financial statements, the following non-cash transactions were recorded. During the years ended December 31, 2018, the Group purchased financial assets at fair value through profit or loss of HK$203,607,914 , by way of current accounts with fellow subsidiaries, which are entities controlled by the ultimate holding company of the Company and therefore related party of the Group. On April 10, 2019, the warrant holder exercised the warrants in full and paid an additional amount of US$10 million for 1,666,666 Class A ordinary shares which was an equity transaction, therefore, the warrant was derecognized as a financial liability and the Company recognized in equity the sum of the additional amount received from the warrant holder and the carrying amount of the warrant. During the year ended December 31, 2020, the Group subscribed two equity linked notes for a consideration of HK$148,671,602 issued by fellow subsidiaries. The underlying securities for an equity linked note were disposed by one of the fellow subsidiaries, triggering a settlement of equity linked note for a consideration of HK$195,789,033. The Group recorded a gain related to disposed investment of HK$82,948,667. The consideration and the disposal proceeds would be settled by way of the current accounts with fellow subsidiaries through AMTD Group under central treasury function. (b) Changes in liabilities arising from financing activities Margin loans Derivative Convertible Bank Total HK$ HK$ HK$ HK$ HK$ At January 1, 2018 351,609,630 — — — 351,609,630 Cash flow from financing activities (38,657,144 ) — — — (38,657,144 ) Interest expenses 9,047,063 — — — 9,047,063 At December, 31 2018 321,999,549 — — — 321,999,549 Cash flow from financing activities (31,983,066 ) 20,813,810 95,995,690 — 84,826,434 Interest expenses 27,705,955 — — — 27,705,955 At December 31, 2019 317,722,438 20,813,810 95,995,690 — 434,531,938 Cash flow from financing activities (330,197,734 ) — — 230,962,565 (99,235,169 ) Interest expenses 12,475,296 — 7,717,348 1,317,435 21,510,079 Fair value gain recognised in profit or loss — (7,765,148 ) — — (7,765,148 ) Exchange alignment — (94,349 ) (434,609 ) — (528,958 ) At December 31, 2020 — 12,954,313 103,278,429 232,280,000 348,512,742 (c) Changes in balances with related parties For the year ended December 31, 2018 Related Fellow Immediate Operating activities 7,500 (699,864,420 ) 439,200,382 Financing activities — 203,607,914 — Net cash inflow/(outflow) 7,500 (496,256,506 ) 439,200,382 For the year ended December 31, 2019 Related Fellow Immediate HK$ Investing activities — — (2,957,926,150 ) Net cash outflow — — (2,957,926,150 ) For the year ended December 31, 2020 Related Fellow Immediate HK$ Investing activities — — (3,581,230,632 ) Net cash outflow — — (3,581,230,632 )

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Related party transactions [abstract]
Related Party Transactions	28. RELATED PARTY TRANSACTIONS (a) In addition to the transactions disclosed elsewhere in these consolidated financial statements, the Group had the following transactions with related parties during the years: For the year ended December 31, Notes 2018 2019 2020 HK$ HK$ HK$ Underwriting services rendered to immediate holding company (i) — 26,420,072 — Financial advisory services rendered to fellow subsidiaries (i) 70,988,340 15,691,000 30,231,825 Financial advisory services rendered to a related party controlled by a director of the Company (i) — — 95,513,306 Management fee paid to immediate holding company (i) — 150,000 150,000 Investment advisory fee paid to a fellow subsidiary (i) 180,000 180,000 180,000 Insurance commission paid to a fellow subsidiary (i) 57,063 84,133 105,251 Asset management services rendered to a fellow subsidiary (i) 5,784,775 457,431 1,362 Acquisition of investment from a fellow subsidiary (ii)(a) 72,072,000 — — Acquisition of investment from immediate holding company (ii)(b) — — 556,161,528 Acquisition of investments from fellow subsidiaries (ii)(c) — — 148,671,602 Administrative service fee paid to immediate holding company (iii) — 12,000,000 24,000,000 Interest income from immediate holding company (iv) — 17,562,104 101,159,079 Recharge from/(to) immediate holding company —Staff costs 11,678,050 17,936,752 20,156,843 —Premises cost 9,329,432 5,300,986 14,010,263 —Office renovation 1,250,906 869,214 — —Other operating (income)/expenses, net (1,753,759 ) 9,798,649 — (iii) 20,504,629 33,905,601 34,167,106 Net changes in fair value on derivative financial asset entered into with a related party controlled by a director of the Company (v) — 1,165,220,000 321,797,949 Asset management service fee income from a related party controlled by a director of the Company (i) — 478,611 2,672,527 Investment banking service income from a related party controlled by a director of the Company (i) — 2,999,584 — Consideration received for disposal of investments to a related party controlled by a director of the Company (v) — — 972,215,580 Consideration received for settlement of derivatives contracts with a related party controlled by a director of the Company (v) — — 618,682,641 Consideration received for settlement of financial asset at fair value through profit or loss by a fellow subsidiary (ii)(c) — — 195,789,033 Notes: (i) The terms of these services were comparable to the fee and conditions offered to the major customers of the Group. (ii) a. The transaction represented the acquisition of ordinary shares of a listed company from its fellow subsidiary based on the market price as of December 12, 2018. b. The transaction represented the acquisition of ordinary shares of a fellow subsidiary from the immediate holding company based on the market price as of the date of acquisition. c. The transactions represented the acquisition and subsequent disposal of equity linked notes from fellow subsidiaries based on the market price as of the date of acquisition. (iii) During the years ended December 31, 2018 and 2019, staff costs, office renovation and other operating expenses (e.g. advertisement and promotional expense) were recharged by the immediate holding company based on the proportion of the Company’s revenue to the consolidated revenue of the immediate holding company, net of expenses incurred by the Group. Premises cost was recharged based on actual usage. Starting from the third quarter of fiscal year 2019, the immediate holding company charged a fixed service fee of HK$6,000,000 per quarter in place of recharging arrangement for certain operating expenses. (iv) The transaction represented the interest income carried at 2% per annum of advances to the immediate holding company which were repayable on demand. (v) In December 2019, the controlling person of the counterparty, with which the Group has entered into the Agreements (Note 14), was appointed as a Director to the Board of Directors of the Company. Accordingly, the counterparty became a related party of the Company. On October 27, 2020, the Agreements were novated to an external party. (b) In addition to balances disclosed elsewhere in these consolidated financial statements, the Group had the following outstanding balances with related parties: (i) Treasury functions of the Group are conducted centrally under AMTD Group and inter-company fund transfers were carried out among the entities within AMTD Group. The treasury function manages available funds at AMTD Group level and allocates the funds to various entities within AMTD Group for their operations. On August 5, 2019, the Group entered into an intercompany financing agreement with its immediate holding company. Under such agreement, any intercompany receivables and payables balances with the immediate holding company and the fellow subsidiaries shall be settled on a net basis with the immediate holding company. As of December 31, 2019 and 2020, the net balances between the Group and the immediate holding company were amount due from immediate holding company of HK$2,921,838,772 and HK$6,477,266,499 respectively, which bear interest at 2% per annum and are unsecured and repayable on demand. The Group did not have any outstanding balances with its fellow subsidiaries due to the intercompany financing agreement. For the years ended December 31, 2018, 2019 and 2020, there was no provision for credit loss on amounts due from immediate holding company. (ii) As of December 31, 2019, the Group’s client receivables of HK$2,142,145 and accounts payable of HK$156,659,071 were due from fellow subsidiaries and a related party which is controlled by a director of the Company, respectively. The balance arose from the normal settlement term of two days after trade date arising from asset management services. Any overdue balance is interest-bearing. There was no such balance as of December 31, 2020. (iii) During the year ended December 31, 2019, the immediate holding company acquired the Company’s receivable from a related company of HK$4,075,351 at cost through the current account with the Company. The Group did not have any outstanding balances with that related company as of December 31, 2019 and 2020. (iv) The Group recorded other income from a fellow subsidiary of HK$3,666,040 for the year ended December 31, 2018 in connection with the reimbursement of interest expenses of the related margin loans payable. (c) Compensation of key management personnel of the Group: For the year ended December 31, 2018 2019 2020 HK$ HK$ HK$ Short-term employee benefits 19,473,470 43,062,534 32,692,568 Other long-term benefit 61,428 92,700 54,745 19,534,898 43,155,234 32,747,313

Financial Instruments By Catego

Financial Instruments By Category	12 Months Ended
	Dec. 31, 2020
Disclosure of financial assets [abstract]
Financial Instruments By Category	29. FINANCIAL INSTRUMENTS BY CATEGORY The carrying amounts of each of the categories of financial instruments as of the end of the reporting period are as follows: As of December 31, 2019 Financial assets Financial assets at Mandatorily required to be fair value Financial assets at cost Total HK$ HK$ HK$ Accounts receivable — 346,379,574 346,379,574 Financial assets included in prepayments, deposits and other receivables — 1,355,013 1,355,013 Due from immediate holding company — 2,921,838,772 2,921,838,772 Financial assets at fair value through profit or loss 1,572,697,716 — 1,572,697,716 Stock loan 1,200,980,200 — 1,200,980,200 Derivative financial asset 1,165,220,000 — 1,165,220,000 Other assets — 245,502,780 245,502,780 Cash and bank balances — 766,430,471 766,430,471 3,938,897,916 4,281,506,610 8,220,404,526 Financial liabilities Financial liabilities Financial cost Total HK$ HK$ HK$ Accounts payable — 492,039,336 492,039,336 Margin loans payable — 317,722,438 317,722,438 Financial liabilities included in other payables and accruals — 66,043,431 66,043,431 Derivative financial liability 20,813,810 — 20,813,810 Convertible bond — 95,995,690 95,995,690 20,813,810 971,800,895 992,614,705 As of Financial assets Financial assets at Mandatorily fair value Financial assets at cost Total HK$ HK$ HK$ Accounts receivable — 77,350,250 77,350,250 Financial assets included in prepayments, deposits and other receivables — 1,650,827 1,650,827 Due from immediate holding company — 6,477,266,499 6,477,266,499 Financial assets at fair value through profit or loss 1,377,856,715 — 1,377,856,715 Stock loan 878,483,400 — 878,483,400 Derivative financial asset 1,023,902,566 — 1,023,902,566 Other assets — 197,309,175 197,309,175 Cash and bank balances — 453,966,764 453,966,764 3,280,242,681 7,207,543,515 10,487,786,196 Financial liabilities Financial liabilities Financial cost Total HK$ HK$ HK$ Accounts payable — 201,986,202 201,986,202 Financial liabilities included in other payables and accruals — 54,162,984 54,162,984 Bank borrowings — 232,280,000 232,280,000 Derivative financial liability 12,954,313 — 12,954,313 Convertible bond — 103,278,429 103,278,429 12,954,313 591,707,615 604,661,928

Fair Value and Fair Value Hiera

Fair Value and Fair Value Hierarchy of Financial Instruments	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about financial instruments [abstract]
Fair Value and Fair Value Hierarchy of Financial Instruments	30. FAIR VALUE AND FAIR VALUE HIERARCHY OF FINANCIAL INSTRUMENTS The carrying amounts and fair values of the Group’s financial instruments measured at fair value are as follows: Carrying amounts Fair values As of December 31, As of December 31, 2019 2020 2019 2020 HK$ HK$ HK$ HK$ Financial assets Financial assets at fair value through profit or loss 1,572,697,716 1,377,856,715 1,572,697,716 1,377,856,715 Derivative financial asset 1,165,220,000 1,023,902,566 1,147,372,779 1,036,169,019 Stock loan 1,200,980,200 878,483,400 1,200,980,200 878,483,400 3,938,897,916 3,280,242,681 3,921,050,695 3,292,509,134 Financial liabilities Derivative financial liability 20,813,810 12,954,313 20,813,810 12,954,313 Management has assessed that the fair values of cash and cash balances, accounts receivable, financial assets included in prepayments, deposits and other receivables, amount due from immediate holding company, accounts payable, financial liabilities included in other payables and accruals, clients’ monies held on trust, margin loans payable, and convertible bond, approximate to their carrying amounts largely due to the short-term maturities of these instruments or repayable on demand. Management considers that the carrying amounts of these financial assets and financial liabilities recognised in the consolidated financial statements approximate their fair values. The Group’s finance department headed by the finance director is responsible for determining the policies and procedures for the fair value measurement of financial instruments. The finance director reports directly to the chief financial officer. At each reporting date, finance department analyses the movements in the values of financial instruments and determines the major inputs applied in the valuation. The valuation is reviewed and approved by the chief financial officer. The valuation procedures applied include consideration of recent transactions in the same security or financial instrument, recent financing of the investee companies, economic and market conditions, current and projected financial performance of the investee companies, and the investee companies’ management team as well as potential future strategies to realize the investments. The fair values of the financial assets and liabilities are included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. The following methods and assumptions were used to estimate the fair values: As of December 31, 2019 and 2020, the fair values of listed equity investments, including the stock loan, and an unlisted equity linked note were based on quoted market prices. The valuation methodologies for unlisted equity securities are set out in Note 3 to the consolidated financial statements. The fair value of the derivative financial asset in relation the Agreements was estimated using the MCS and was determined based on significant observable and unobservable inputs including the current stock price, dividend yield, risk-free rate, volatility of the underlying equity securities and the credit rating of the counterparty on the valuation date. MCS is a financial model that is commonly used to simulate variables that are highly unpredictable. The valuations performed using the MCS require management to estimate the volatility of the underlying equity securities and the credit rating of the counterparty and hence the valuations are subject to estimation uncertainty. The Group classifies the fair value of derivative financial asset as Level 3. The management believed that the estimated fair values resulting from the valuation technique were reasonable. The accounting policy of the day 1 profit or loss arising from the difference between the transaction price and the fair value upon initial recognition is disclosed in Note 2.4 to the consolidated financial statements. The fair value of the conversion option embedded in the convertible bond is calculated based on the difference of the fair value of convertible bond as a whole using binomial method, and the fair value of the loan using the discounted cash flow method. The valuation of the fair value of convertible bond as a whole requires the Group to determine credit spread, liquidity spread and volatility. Below is summary of significant unobservable inputs to valuation of financial instruments together with a quantitative sensitivity analysis as of December 31, 2019: Valuation Significant Range or Sensitivity of value to the input Unlisted equity investment-Investment C Multiple/ EVA Equity volatility 33.08% 5% increase/decrease in volatility results in decrease/increase in fair value by 1.0%/0.3% Average P/E multiple of peers 10.8 5% increase/decrease in P/E multiple results in increase/decrease in fair value by 5.4%/4.1% Derivative financial asset MCS Volatility of Underlying Assets 32.82% 5% increase/decrease in volatility results in increase/decrease in fair value by 0.02%/0.23% Credit rating BB One rank level increase in credit rating of counterparty from BB to BBB results in increase in fair value by 0.04% One rank level decrease in credit rating of counterparty from BB to B results in decrease in fair value by 0.80% Derivative financial liability Binomial option pricing model Volatility 67.87% 5% increase/decrease in volatility results in increase/decrease in fair value by 4.58%/4.66% Discount rate 12.52% 5% increase/decrease in discount rate results in increase/decrease in fair value by 0.32%/0.32% Below is summary of significant unobservable inputs to valuation of financial instruments together with a quantitative sensitivity analysis as of December 31, 2020: Valuation Significant Estimate Sensitivity of value to the input Unlisted equity investment-Investment B Multiple/ EVA Equity volatility 63.61% 5% increase/decrease in volatility results in decrease/increase in fair value by 3.5%/3.3% Unlisted equity investment-Investment C Multiple/ EVA Equity volatility 39.64% 5% increase/decrease in volatility results in decrease/increase in fair value by 0.9%/0.9% Median P/E multiple of peers 10.4 5% increase/decrease in P/E multiple results in increase/decrease in fair value by 4.7%/4.8% Derivative financial asset MCS Volatility of Underlying Assets 46.03% 5% increase/decrease in volatility results in increase/decrease in fair value by 0.23%/0.11% Credit rating BB One rank level increase in credit rating of counterparty from BB to BBB results in increase in fair value by 0.02% One rank level decrease in credit rating of counterparty from BB to B results in decrease in fair value by 0.16% Derivative financial liability Binomial option pricing model Volatility 56.58% 5% increase/decrease in volatility results in increase/decrease in fair value by 1.63%/1.66% Discount rate 9.77% 5% increase/decrease in discount rate results in decrease/increase in fair value by 8.22%/9.41% Fair Value Hierarchy The following tables illustrate the fair value measurement hierarchy of the Group’s financial instruments: Assets measured at fair value Fair value measurement using Quoted prices in active (Level 1) Significant (Level 2) Significant (Level 3) Total HK$ HK$ HK$ HK$ As o f Financial assets at fair value through profit or loss 1,249,999,800 — 322,697,916 1,572,697,716 Stock loan 1,200,980,200 — — 1,200,980,200 2,450,980,000 — 322,697,916 2,773,677,916 Derivative financial asset — — 1,165,220,000 1,165,220,000 2,450,980,000 — 1,487,917,916 3,938,897,916 As of Financial assets at fair value through profit or loss 185,435,750 892,565,280 299,855,685 1,377,856,715 Stock loan 878,483,400 — — 878,483,400 1,063,919,150 892,565,280 299,855,685 2,256,340,115 Derivative financial asset — — 1,023,902,566 1,023,902,566 1,063,919,150 892,565,280 1,323,758,251 3,280,242,681 Liability measured at fair value Fair value measurement using Quoted prices (Level 1) Significant (Level 2) Significant (Level 3) Total HK$ HK$ HK$ HK$ As of Derivative financial liability — — 20,813,810 20,813,810 As of Derivative financial liability — — 12,594,313 12,594,313 During the years ended December 31, 2018, 2019 and 2020, there were no transfers of fair value measurements between Level 1 and Level 2 and no transfers into or out of Level 3. The movements in fair value measurements within Level 3 during the years are as follow: For the year ended December 31, 2018 2019 2020 HK$ HK$ HK$ Unlisted equity shares at fair value through profit or loss: At January, 1 15,629,400 281,241,909 322,697,916 Purchase 211,456,214 — — Net fair value changes recognised in profit or loss 54,156,295 41,456,007 (22,842,231 ) At December 31, 281,241,909 322,697,916 299,855,685 For the y December 31, HK$ Warrants at fair value through profit or loss: At January 1, — Issued 15,699,600 Exercised (15,699,600 ) At December 31, — For the year ended December 31, 2019 2020 HK$ HK$ Derivative financial asset (Note 14): At January 1, — 1,165,220,000 Recognition of day 1 profit or loss deferred on inception of contract, renegotiation and extension 472,591,235 (41,782,951 ) Net fair value gains recognised in profit or loss 692,628,765 413,088,277 Gain related to disposed investment — 106,059,881 Partial settlement — (618,682,641 ) At December 31, 1,165,220,000 1,023,902,566 For the year ended 2019 2020 HK$ HK$ Derivative financial liability (Note 24): At January 1, — 20,813,810 Issued 20,813,810 — Net fair value changes recognised in profit or loss — (7,765,148) Exchange alignment — (94,349) At December 31, 20,813,810 12,954,313

Financial Risk Management Objec

Financial Risk Management Objectives and Policies	12 Months Ended
	Dec. 31, 2020
Financial Risk Management Objective And Policies [Abstract]
Financial Risk Management Objectives and Policies	31. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES The Group has various financial assets and liabilities such as financial assets at fair value through profit or loss, stock loan, accounts receivable, accounts payable, financial assets included in prepayments, deposits and other receivables, financial liabilities included in other payables and accruals, clients’ monies held on trust, margin loans payable, amounts due from immediate holding company which primarily arise directly from its operations. The main risks arising from the Group’s financial instruments are price risk, foreign currency risk, interest rate risk, credit risk and liquidity risk. Management manages and monitors these risks to ensure appropriate measures are implemented on a timely and effective manner. Price risk Equity price risk is the risk that the fair values of equity investments decrease as a result of changes in the levels of equity indices and the value of individual securities. The Group is exposed to equity securities price risk because certain investments held by the Group are classified in the consolidated statements of financial position as financial assets at fair value through profit or loss. Profit for the year would increase/decrease as a result of gains/losses on equity securities classified as financial assets at fair value through profit or loss. At December 31, 2019 and 2020, if there had been a 5% increase/decrease in the equity price of financial assets at fair value through profit or loss and stock loan with all other variables held constant, the Group’s profit before tax would have been approximately HK$122,549,000 and HK$50,070,000 higher/lower. At December 31, 2019 and 2020, if there had been a 5% increase/decrease in the equity price of unlisted equity shares and unlisted equity linked note, included in financial assets at fair value through profit or loss, with all other variables held constant, the Group’s profit before tax would have been approximately HK$16,134,896 and HK$62,747,000 higher/lower. The Group had concentration risk in its strategic investments segment as 79% of financial assets at fair values through profit or loss (excluding stock loan) at December 31, 2019 and 100% of stock loan at December 31, 2019 and 2020 were investments in listed equity shares in Investment A and 71% of financial assets at fair values through profit or loss at December 31, 2020 were investments in unlisted equity shares in Investment E. On April 1, 2019, the Group entered Agreements with the counterparty in relation to the movement of the share price of the entirety of the Underlying Assets to reduce the Group’s exposure the changes in fair value of financial assets. The Agreements were modified and renewed several times as disclosed in Note 14. The derivative financial asset is initially recognised at fair value and is subsequently remeasured at fair value. Any gains or losses arising from changes in fair value of derivative financial asset are taken directly to profit or loss. During the year ended December 31, 2019 and 2020, changes in the fair value of the derivative financial asset of HK$1,165,220,000 and HK$371,305,326, were charged to profit or loss. The Group is also exposed to equity price risk arising from changes in the price of the Company’s own shares to the extent that the Company’s own equity investments underlie the fair values of derivatives. At December 31, 2019 and 2020, the Group was exposed to this risk through the conversion rights attached to the convertible bond (Note 24) issued by the Company. If there have been increase/decrease in the share price by 5%, it will result in de approximately i n in prof it b efore tax by approximately 36,000 Foreign currency risk Certain transactions of the Group are denominated in foreign currencies which are different from the functional currency of the Group, i.e. HK$, and therefore the Group is exposed to foreign currency risk. The Group currently does not have a foreign currency hedging policy. However, management monitors foreign exchange exposure and will consider hedging significant foreign exchange exposure should the need arise. As HK$ is currently pegged to United States dollars (“US$”), management considers that there is no significant foreign currency risk arising from the Group’s monetary assets and the liability denominated in US$. The Group’s key currency risk exposure primarily arises from accounts receivable and bank balances denominated in Renminbi (“RMB”), New Taiwan Dollar (“NTD”) and Singapore Dollar (“SGD”). As of December 2019 and 2020, the Group had no significant exposure to foreign currency risk. Consequently, no sensitivity analysis has been performed and disclosed. Interest rate risk The Group is exposed to fair value interest rate risk in relation to fixed-rate amount due from immediate holding company and convertible bond. The Group is also exposed to cash flow interest rate risk in relation to variable-rate bank balances and variable-rate bank borrowings. The Group cash flow interest rate risk is mainly concentrated on the fluctuation of interest rates on bank balances, HIBOR arising from the Group’s HK$ denominated borrowings and LIBOR arising from the Group’s US$ denominated borrowings. The Group aims at keeping borrowings at variable rates. The Group manages its interest rate exposures by assessing the potential impact arising from any interest rate movements based on interest rate level and outlook. The management will review the proportion of borrowings in fixed and floating rates and ensure they are within reasonable range. No sensitivity analysis has been presented for variable rate bank balances and variable rate bank borrowings as the bank deposit and bank borrowings are carried at amortized cost and the cash flow interest exposure is insignificant. Credit risk Credit risk refers to the risk that a counterparty will default on its contractual obligations resulting in financial loss to the Group. The Group has adopted a policy of only dealing with creditworthy counterparties, as a means of mitigating the risk of financial loss from defaults. The Group’s exposure of its counterparties is continuously monitored and the aggregate value of transactions concluded is spread amongst approved counterparties. Credit exposure is controlled by counterparty limits that are reviewed and approved by the management periodically. The Group has credit risk exposure in relation the Agreements entered into with a counterparty amounting to HK$1,165,220,000 and HK$1,023,902,566 as of of The carrying amount of financial assets recorded in the consolidated financial statements, grossed up for any allowances for losses, represents the Group’s maximum exposure to credit risk. The credit risk on liquid funds is limited because the counterparties are mainly banks and insurance companies with sound credit. Maximum exposure and staging as of December 31, 2019 and 2020 The table below shows the credit quality and the maximum exposure to ECL based on the Group’s credit policy, which is mainly based on past due information unless other information is available without undue cost or effort, and the staging classification as of December 31, 2019 and 2020. The amounts presented are gross carrying amounts for financial assets at amortized cost. As of December 31, 2019 12-month ECLs Lifetime ECLs HK$ Stage 1 HK$ Stage 2 Stage 3 Simplified approach Accounts receivable* — — — 346,379,574 346,379,574 Financial assets included in prepayments, deposits and other receivables —Normal** 1,355,013 — — — 1,355,013 —Doubtful** — — — — — Due from immediate holding company —Normal** 2,921,838,772 — — — 2,921,838,772 —Doubtful** — — — — — Other assets —Internal credit risk rating AA 245,502,780 — — — 245,502,780 Cash and bank balances —Internal credit risk rating AA 766,430,471 — — — 766,430,471 3,935,127,036 — — 346,379,574 4,281,506,610 * For accounts receivable to which the Group applies the simplified approach for impairment, information based on the provision matrix is disclosed in Note 11 to the consolidated financial statements. ** The credit quality of the financial assets included in prepayments, deposits and other receivables, due from a related company and due from immediate holding company is considered to be “normal” when they are not past due and there is no information indicating that the financial assets had a significant increase in credit risk since initial recognition; “doubtful” when there has been significant increase in credit risk since initial recognition through information developed internally or externally; “loss” when there is evidence indicating the asset is credit-impaired; and “write-off” when there is evidence indicating that the debtor is in severe financial difficulty and Group has no realistic prospect of recovery. As of 31, 2020 12-month ECLs Lifetime ECLs HK$ Stage 1 HK$ Stage 2 Stage 3 Simplified approach Accounts receivable* 21,165,253 — — 56,184,997 77,350,250 Financial assets included in prepayments, deposits and other receivables —Normal** 1,650,827 — — — 1,650,827 —Doubtful** — — — — — Due from immediate holding company —Normal** 6,477,266,499 — — — 6,477,266,499 —Doubtful** — — — — — Other assets —Internal credit risk rating AA 197,309,175 — — — 197,309,175 Cash and bank balances —Internal credit risk rating AA 453,966,764 — — — 453,966,764 7,151,358,518 — — 56,184,997 7,207,543,515 * For accounts receivable to which the Group applies the simplified approach for impairment, information based on the provision matrix is disclosed in Note 11 to the consolidated financial statements. ** The credit quality of the financial assets included in prepayments, deposits and other receivables, due from a related company and due from immediate holding company is considered to be “normal” when they are not past due and there is no information indicating that the financial assets had a significant increase in credit risk since initial recognition; “doubtful” when there has been significant increase in credit risk since initial recognition through information developed internally or externally; “loss” when there is evidence indicating the asset is credit-impaired; and “write-off” when there is evidence indicating that the debtor is in severe financial difficulty and Group has no realistic prospect of recovery. Liquidity risk The Group aims to maintain cash and credit lines to meet its liquidity requirements. The Group finances its working capital requirements through a combination of funds generated from operations, loans and equity financing. The following tables detail the Group’s remaining contractual maturity for its financial liabilities. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Group can be required to pay. As of Weighted On demand 3 months to 1 year 1 to 5 years Total % HK$ HK$ HK$ HK$ Accounts payable N/A 492,039,336 — — 492,039,336 Margin loans payable 6.625 % 317,722,438 — — 317,722,438 Financial liabilities included in other payables and accruals N/A 66,043,431 — — 66,043,431 Convertible bond 7.8 % — — 125,273,321 125,273,321 875,805,205 — 125,273,321 1,001,078,526 As of Weighted On demand 3 months to 1 year 1 to 5 years Total % HK$ HK$ HK$ HK$ Accounts payable N/A 201,986,202 — — 201,986,202 Bank borrowings 2.1 % 233,493,790 — — 233,493,790 Financial liabilities included in other payables and accruals N/A 54,136,011 — — 54,136,011 Convertible bond 7.8 % — — 124,606,940 124,606,940 489,616,003 — 124,606,940 614,222,943 Capital risk management The Group manages its capital to ensure that the Group will be able to continue as a going concern while maximising the return to stakeholders through the optimisation of the debt and equity balance. The capital structure of the Group consists of debt which includes bank borrowing and convertible bond, equity attributable to equity holders of the Group, comprising issued share capital, retained profits, capital reserves and perpetual securit i As AMTD GM and AMTD AAAPL are licensed corporations under the Hong Kong Securities and Futures Ordinances, the Group is subject to statutory capital requirement and is required to maintain adequate financial resources to support its business. The Securities and Futures (Financial Resources) Rules require a licensed corporation to maintain liquid capital which is not less than its required liquid capital. In addition, AMTD GM is a member of the Hong Kong Confederation of Insurance Brokers, which is required to maintain a minimum capital and net assets value of not less than HK$100,000. There were no changes on the Group’s approach to capital risk management during the years ended December 31, 2019 and 2020.

Stock Incentive Plan

Stock Incentive Plan	12 Months Ended
	Dec. 31, 2020
Stock Incentive Plan [Abstract]
Stock Incentive Plan	32. STOCK INCENTIVE PLAN AMTD SpiderMan Share Incentive Plan In June 2019, the Group’s board of directors approved the AMTD SpiderMan Share Incentive Plan, or the 2019 Plan, to attract and retain the best available personnel, provide additional incentives to employees, directors, and consultants, and promote the success of the business. The maximum aggregate number of ordinary shares that may be issued under the 20 19 ( of 2019 of of 2019

Approval of Consolidated Financ

Approval of Consolidated Financial Statements	12 Months Ended
	Dec. 31, 2020
Disclosure of non-adjusting events after reporting period [abstract]
Approval of Consolidated Financial Statements	33. APPROVAL OF CONSOLIDATED FINANCIAL STATEMENTS The consolidated financial statements were approved and authorised for issue by the Board of Directors on April 2 8

Basis of Presentation (Policies

Basis of Presentation (Policies)	12 Months Ended
	Dec. 31, 2020
Basis of Presentation [Abstract]
Fair value measurement	Fair value measurement The Group measures its derivative financial instruments, debt and equity investments at fair value at the end of each reporting period. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either in the principal market for the asset or liability, or in the absence of a principal market, in the most advantageous market for the asset or liability. The principal or the most advantageous market must be accessible by the Group. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. A fair value measurement of a non-financial The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the consolidated financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: Level 1 — based on quoted prices (unadjusted) in active markets for identical assets or liabilities Level 2 — based on valuation techniques for which the lowest level input that is significant to the fair value measurement is observable, either directly or indirectly Level 3 — based on valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable For assets and liabilities that are recognised in the consolidated financial statements on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy by reassessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.
Impairment of non-financial assets	Impairment of non-financial Where an indication of impairment exists, or when annual impairment testing for an asset is required (other than financial assets), the asset’s recoverable amount is estimated. An asset’s recoverable amount is the higher of the asset’s value in use and its fair value less costs of disposal, and is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets, in which case the recoverable amount is determined for the cash-generating unit to which the asset belongs. An impairment loss is recognised only if the carrying amount of an asset exceeds its recoverable amount. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax An assessment is made at the end of each reporting period as to whether there is an indication that previously recognised impairment losses may no longer exist or may have decreased. If such an indication exists, the recoverable amount is estimated. A previously recognised impairment loss of an asset other than goodwill is reversed only if there has been a change in the estimates used to determine the recoverable amount of that asset, but not to an amount higher than the carrying amount that would have been determined (net of any depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of such an impairment loss is credited to profit or loss in the period in which it arises.
Related parties	Related parties A party is considered to be related to the Group if: (a) the party is a person or a close member of that person’s family and that person (i) has control or joint control over the Group; (ii) has significant influence over the Group; or (iii) is a member of the key management personnel of the Group or of a parent of the Group; or (b) the party is an entity where any of the following conditions applies: (i) the entity and the Group are members of the same group; (ii) one entity is an associate or joint venture of the other entity (or of a parent, subsidiary or fellow subsidiary of the other entity); (iii) the entity and the Group are joint ventures of the same third party; (iv) one entity is a joint venture of a third entity and the other entity is an associate of the third entity; (v) the entity is a post-employment benefit plan for the benefit of employees of either the Group or an entity related to the Group; and the sponsoring employers of the post-employment benefit plan; (vi) the entity is controlled or jointly controlled by a person identified in (a); (vii) a person identified in (a)(i) has significant influence over the entity or is a member of the key management personnel of the entity (or of a parent of the entity); and (viii) the entity, or any member of a group of which it is a part, provides key management personnel services to the Group or to the parent of the Group.
Property, plant and equipment and depreciation	Property, plant and equipment and depreciation Property, plant and equipment are stated at cost less accumulated depreciation and any impairment losses. The cost of an item of property, plant and equipment comprises its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use. Expenditure incurred after items of property, plant and equipment have been put into operation, such as repairs and maintenance, is normally charged to profit or loss in the year in which it is incurred. In situations where the recognition criteria are satisfied, the expenditure for a major inspection is capitalised in the carrying amount of the asset as a replacement. Where significant parts of property, plant and equipment are required to be replaced at intervals, the Group recognises such parts as individual assets with specific useful lives and depreciates them accordingly. Depreciation is calculated on a straight-line basis to write off the cost or valuation of each item of property, plant and equipment to its residual value over its estimated useful life. The principal annual rates used for this purpose are as follows: Furniture and fixtures 20% Computer equipment 33 1 3 Where parts of an item of property, plant and equipment have different useful lives, the cost of that item is allocated on a reasonable basis among the parts and each part is depreciated separately. Residual values, useful lives and the depreciation method are reviewed, and adjusted if appropriate, at least at each financial year end. An item of property, plant and equipment including any significant part initially recognised is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss on disposal or retirement recognised in profit or loss in the year the asset is derecognised is the difference between the net sales proceeds and the carrying amount of the relevant asset.
Intangible assets (other than goodwill)	Intangible assets (other than goodwill) Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination or asset acquisition is the fair value at the date of acquisition. The useful lives of intangible assets are assessed to be either finite or indefinite. Intangible assets with indefinite useful lives are tested for impairment annually either individually or at the cash-generating unit level. Such intangible assets are not amortised. The useful life of an intangible asset with an indefinite life is reviewed annually to determine whether the indefinite life assessment continues to be supportable. If not, the change in the useful life assessment from indefinite to finite is accounted for on a prospective basis.
Licenses	Licenses Purchased licenses are stated at cost less any impairment losses and have indefinite useful life.
Financial instruments—Investments and other financial assets	Financial instruments—Investments and other financial assets Initial recognition and measurement Financial assets are classified, at initial recognition, and subsequently measured at amortised cost or fair value. The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Group’s business model for managing them. With the exception of accounts receivable that do not contain a significant financing component or for which the Group has applied the practical expedient of not adjusting the effect of a significant financing component, the Group initially measures a financial asset at its fair value, plus in the case of a financial asset not at fair value through profit or loss, transaction costs. Accounts receivable that do not contain a significant financing component or for which the Group has applied the practical expedient are measured at the transaction price determined under IFRS 15 in accordance with the policies set out for “Revenue recognition” below. In order for a financial asset to be classified and measured at amortised cost, the contractual terms needs to give rise to cash flows that are solely payments of principal and interest (“SPPI”) on the principal amount outstanding and the financial asset is held within a business model whose objective is to collect contractual cash flows. The Group’s business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. Financial assets classified and measured at amortised cost are held within a business model with the objective to hold financial assets in order to collect contractual cash flows. Financial assets which are not held within the aforementioned business models are classified and measured at fair value through profit or loss. All regular way purchases or sales of financial assets are recognised and derecognised on a trade date basis. Regular way purchases or sales are purchases or sales of financial assets that require delivery of assets within the time frame established by regulation or convention in the marketplace. Subsequent measurement The subsequent measurement of financial assets depends on their classification as follows: Financial assets at amortised cost (debt instruments) Financial assets at amortised cost are subsequently measured using the effective interest method and are subject to impairment. Gains and losses are recognised in the consolidated statements of profit or loss when the asset is derecognised, modified or impaired. The effective interest method is a method of calculating the amortised cost of a financial asset and of allocating interest income and interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts and payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial asset, or, where appropriate, a shorter period, to the net carrying amount on initial recognition. Financial assets at fair value through profit or loss Financial assets at fair value through profit or loss are carried in the consolidated statements of financial position at fair value with net changes in fair value recognised in profit or loss. This category includes debt investments which the Group has irrevocably classify at fair value through profit or loss, derivative instruments and equity investments which the Group had not irrevocably elected to classify at fair value through other comprehensive income. Dividends on equity investments classified as financial assets at fair value through profit or loss are recognised as revenue in the consolidated statements of profit or loss when the right of payment has been established, it is probable that the economic benefits associated with the dividend will flow to the Group and the amount of the dividend can be measured reliably.
Derecognition of financial assets	Derecognition of financial assets A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognised (i.e., removed from the Group’s consolidated statement of financial position) when: • the rights to receive cash flows from the asset have expired; or • the Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a “pass-through” arrangement; and either (a) the Group has transferred substantially all the risks and rewards of the asset, or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset. When the Group has transferred its rights to receive cash flows from an asset or has entered into a “pass-through” arrangement, it evaluates if, and to what extent, it has retained the risk and rewards of ownership of the asset. When it has neither transferred nor retained substantially all the risks and rewards of the asset nor transferred control of the asset, the Group continues to recognise the transferred asset to the extent of the Group’s continuing involvement. In that case, the Group also recognises an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Group could be required to repay.
Impairment of financial assets	Impairment of financial assets The Group recognises an allowance for expected credit losses (“ECLs”) for all debt instruments at fair value through other comprehensive income, if any, and financial assets not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms. General approach For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12-months 12-month At each reporting date, the Group assesses whether the credit risk on a financial asset has increased significantly since initial recognition. When making the assessment, the Group compares the risk of a default occurring on the financial asset as of the reporting date with the risk of a default occurring on the financial asset as of the date of initial recognition and considers reasonable and supportable information that is available without undue cost or effort, including historical and forward-looking information. The Group considers a financial asset in default when contractual payments are 90 days past due. However, in certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Group. Financial assets at amortised cost are subject to impairment under the general approach and they are classified within the following stages for measurement of ECLs except for accounts receivable which apply the simplified approach as detailed below. Stage 1 — Financial assets for which credit risk has not increased significantly since initial recognition and for which the loss allowance is measured at an amount equal to 12-month Stage 2 — Financial assets for which credit risk has increased significantly since initial recognition but that are not credit-impaired financial assets and for which the loss allowance is measured at an amount equal to lifetime ECLs Stage 3 — Financial assets that are credit-impaired at the reporting date (but that are not purchased or originated credit-impaired) and for which the loss allowance is measured at an amount equal to lifetime ECLs Interest income is calculated based on the gross carrying amount of the financial asset unless the financial asset is credit-impaired, in which case interest income is calculated based on amortized cost of the financial asset. Simplified approach For accounts receivable that do not contain a significant financing component or when the Group applies the practical expedient of not adjusting the effect of a significant financing component, the Group applies the simplified approach in calculating ECLs. Under the simplified approach, the Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime ECLs at each reporting date.
Financial liabilities	Financial liabilities Initial recognition and measurement Financial liabilities are classified, at initial recognition, as financial liabilities at amortised cost or at fair value through profit or loss (warrants and derivative financial instruments), as appropriate. All financial liabilities are recognised initially at fair value and, in the case of financial liabilities at amortised cost, net of directly attributable transaction costs. Transaction costs directly attributable to the acquisition of financial liabilities at fair value through profit or loss are recognised immediately in profit or loss The Group’s financial liabilities include accounts payable, margin loans payable, bank borrowings, financial liabilities included in other payables and accruals, derivative financial liability and convertible bond. Subsequent measurement The subsequent measurement of financial liabilities depends on their classification as follows: Financial liabilities at amortised cost After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost, using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost. Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as through the effective interest rate amortisation process. Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the effective interest rate. The effective interest rate amortisation is included in finance costs in profit or loss. Convertible bonds If the conversion option of convertible bond exhibits characteristics of an embedded derivative, it is separated from its liability component. On initial recognition, the derivative component of the convertible bond is measured at fair value and presented as part of derivative financial instruments. Any excess of proceeds over the amount initially recognised as the derivative component is recognised as the liability component. Transaction costs are apportioned between the liability and derivative components of the convertible bond based on the allocation of proceeds to the liability and derivative components when the instruments are initially recognised. The portion of the transaction costs relating to the liability component is recognised initially as part of the liability. The portion relating to the derivative component is recognised immediately in the statement of profit or loss.
Derecognition of financial liabilities	Derecognition of financial liabilities A financial liability is derecognised when the obligation under the liability is discharged or cancelled, or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and a recognition of a new liability, and the difference between the respective carrying amounts is recognised in profit or loss.
Derivative financial instruments	Derivative financial instruments Derivative financial asset is initially recognised at fair value on the date on which a derivative contract is entered into and is subsequently remeasured at fair value. Derivative financial instruments is carried as an asset when the fair value is positive and as a liability when the fair value is negative. Any gain or loss arising from changes in fair value of the derivative financial instruments is taken directly to profit or loss.
Day 1 profit or loss	Day 1 profit or loss If the fair value of the derivative financial instrument at initial recognition differs from the transaction price and the fair value is not evidenced by a quoted price in an active market for an identical asset or liability (i.e. a Level 1 input) or a valuation technique that uses only data from observable markets, the difference between the fair value at initial recognition and the transaction price is the deferred and is only recognised as a gain or loss during the term of the derivative financial instrument using a systematic basis that reflects a change in a factor (including time) that market participants would take into account when pricing the derivative financial instrument.
Cash and cash equivalents	Cash and cash equivalents For the purpose of the consolidated statements of cash flows, cash and cash equivalents comprise cash on hand and demand deposits, and short term highly liquid investments that are readily convertible into known amounts of cash, are subject to an insignificant risk of changes in value, and have a short maturity of generally within three months when acquired, less bank overdrafts which are repayable on demand and form an integral part of the Group’s cash management. For the purpose of the consolidated statements of financial position, cash and cash equivalents comprise cash on hand and at banks, including term deposits, and assets similar in nature to cash, which are not restricted as to use. Provisions A provision is recognised when a present obligation (legal or constructive) has arisen as a result of a past event and it is probable that a future outflow of resources will be required to settle the obligation, provided that a reliable estimate can be made of the amount of the obligation. When the effect of discounting is material, the amount recognised for a provision is the present value at the end of the reporting period of the future expenditures expected to be required to settle the obligation. The increase in the discounted present value amount arising from the passage of time is included in finance costs in profit or loss.
Provisions	Provisions A provision is recognised when a present obligation (legal or constructive) has arisen as a result of a past event and it is probable that a future outflow of resources will be required to settle the obligation, provided that a reliable estimate can be made of the amount of the obligation. When the effect of discounting is material, the amount recognised for a provision is the present value at the end of the reporting period of the future expenditures expected to be required to settle the obligation. The increase in the discounted present value amount arising from the passage of time is included in finance costs in profit or loss.
Income tax	Income tax Income tax comprises current and deferred tax. Income tax relating to items recognised outside profit or loss is recognised outside profit or loss, either in other comprehensive income or directly in equity. Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period, taking into consideration interpretations and practices prevailing in the countries in which the Group operates. Deferred tax is provided, using the liability method, on all temporary differences at the end of the reporting period between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred tax liabilities are recognised for all taxable temporary differences, except: • when the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and • in respect of taxable temporary differences associated with investments in subsidiaries, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future. Deferred tax assets are recognised for all deductible temporary differences, and the carryforward of unused tax credits and any unused tax losses. Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, the carryforward of unused tax credits and unused tax losses can be utilised, except: • when the deferred tax asset relating to the deductible temporary differences arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and • in respect of deductible temporary differences associated with investments in subsidiaries, deferred tax assets are only recognised to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax assets are reassessed at the end of each reporting period and are recognised to the extent that it has become probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax assets and deferred tax liabilities are offset if and only if the Group has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied to the same taxable entity by the same taxation authority in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered.
Revenue recognition	Revenue recognition Revenue from contracts with customers Revenue from contracts with customers is recognised when control of goods or services is transferred to the customers at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods or services. When the consideration in a contract includes a variable amount, the amount of consideration is estimated to which the Group will be entitled in exchange for transferring the goods or services to the customer. The variable consideration is estimated at contract inception and constrained until it is highly probable that a significant revenue reversal in the amount of cumulative revenue recognised will not occur when the associated uncertainty with the variable consideration is subsequently resolved. The primary components of fee and commission income are investment banking fee and income and asset management fee. (a) Investment banking fee and income Investment banking service income is composed of underwriting commission, brokerage fee and financial advisory fee. Underwriting commission earned from underwriting equity and debt securities is recognised at the point in time when the Group’s performance under the terms of a contractual arrangement is completed, which is typically at the closing of a transaction if there is no uncertainty or contingency related to the amount to be paid. The normal credit term is 60 to 120 days upon the completion of performance. Brokerage fee earned from sales of equity and debt securities from underwriting is recognised at the point in time when the associated service is fulfilled, generally on the trade execution date. Financial advisory fee is recognised over the advisory service period when revenue is not probable of a significant reversal. The majority of the contracts have a duration of 90 to 180 days. (b) Asset management fee Asset management fee primarily includes fees associated with asset management, performance-based incentive fee, brokerage and handling fee. The management fee and the performance-based incentive fee are earned for the provision of asset management services, which include portfolio diversification and rebalancing. These services represent a single performance obligation comprised of a series of distinct services which are substantially the same, being provided continuously over the contract period. Asset management fees, some of which are received in advance, consist of management and performance fees that are fixed or variable consideration. Variable consideration is determined based on underlying assets under management, i.e. AUM, of a customer’s account at a specified period end. Management fee is recognised when services are performed. Fixed consideration is recognised over the schedule period on a straight-line basis because the customer simultaneously receives and consumes the benefits provided by the Company. Performance-based incentive fee is recognised when the performance target is met and the revenue is not probable of a significant reversal. For asset management services, when a single contract contains two performance obligations, the stand-alone selling prices of each of the distinct services underlying the performance obligations (i.e. management fee and performance-based incentive fee for asset management service and brokerage and handling fee for transaction processing service) are stated separately in the contract. These are the observable prices of services when the Company sells each of them separately. Brokerage and handling fees are recognised at the point in time when the associated service is fulfilled, generally on the trade execution date. Revenue from other sources Fair value changes on financial assets at fair value through profit or loss, stock loan and derivative financial assets are recognised in the period in which they arise. Gain/loss recognised during the period for the financial assets at fair value through profit or loss, stock loan and derivative financial asset disposed during the current period is recognised as gain/loss related to disposed investment, whereas gain/loss recognised during the period for those financial assets at fair value through profit or loss, stock loan and derivative financial asset held at the end of the reporting period is recognised as net fair value changes on financial assets at fair value through profit or loss and stock loan and net fair value changes on derivative financial asset. Dividend income is recognised when the shareholders’ right to receive payment has been established, it is probable that the economic benefits associated with the dividend will flow to the Group and the amount of the dividend can be measured reliably.
Contract liabilities	Contract liabilities A contract liability is recognised when the payment is made and received or the payment is due (whichever is earlier) from a customer before the Group transfers the related goods or services. Contract liabilities are recognised as revenue when the Group performs under the contract (i.e., transfers control of the related goods or services to the customer). For certain customers of asset management service, the Company requires upfront payment of management fee and recorded such upfront fee as contract liabilities in other payables and accruals. Upfront fee is recognised as revenue based on the time elapsed for the service period. Asset management contracts normally cover periods of one to three years.
Government Grant	Government grant Government grants are not recognised until there is reasonable assurance that the Group will comply with the conditions attaching to the grants and that the grants will be received. Government grants are recognised in profit or loss on a systematic basis over the periods in which the Group recognises as expenses the related costs for which the grants are intended to compensate. Specifically, government grants whose primary condition is that the Group should purchase, construct or otherwise acquire non-current Government grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the Group with no future related costs are recognised in profit or loss in the period in which they become receivable. Such grants are presented under other income.
Employee benefits	Employee benefits Retirement benefit cost The Group operates a defined contribution Mandatory Provident Fund retirement benefit scheme (the “MPF Scheme”) under the Mandatory Provident Fund Schemes Ordinance for all of its employees. Contributions are made based on a percentage of the employees’ basic salaries and are charged to profit or loss as they become payable in accordance with the rules of the MPF Scheme. The assets of the MPF Scheme are held separately from those of the Group in an independently administered fund. The Group’s employer contributions vest fully with the employees when contributed into the MPF Scheme.
Foreign currencies	Foreign currencies These financial statements are presented in Hong Kong dollars, which is the Company’s functional currency. Each entity in the Group determines its own functional currency and items included in the financial statements of each entity are measured using that functional currency. Foreign currency transactions recorded by the entities in the Group are initially recorded using their respective functional currency rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency rates of exchange ruling at the end of the reporting period. Differences arising on settlement or translation of monetary items are recognised in profit or loss. Non-monetary Non-monetary non-monetary In determining the exchange rate on initial recognition of the related asset, expense or income on the derecognition of a non-monetary non-monetary non-monetary non-monetary For the purpose of presenting consolidated financial statements, the assets and liabilities of the Group’s foreign operations are translated at exchange rates prevailing on the reporting date. Income and expense items are translated at the average exchange rates for the period, unless exchange rates fluctuate significantly during that period, in which case the exchange rates at the date of transactions are used. Exchange differences arising, if any, are recognised in other comprehensive income and accumulated in a exchange reserve (attributed to non-controlling On the disposal of a foreign operation (i.e. a disposal of the Group’s entire interest in a foreign operation, or a disposal involving loss of control over a subsidiary that includes a foreign operation of which the retained interest becomes a financial asset), all of the exchange differences accumulated in a foreign exchange translation reserve in respect of that operation attributable to the owners of the Company are reclassified to profit or loss. In addition, in relation to a partial disposal of a subsidiary that includes a foreign operation that does not result in the Group losing control over the subsidiary, the proportionate share of accumulated exchange differences are re-attributed non-controlling

Corporate Information (Tables)

Corporate Information (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of subsidiaries [abstract]
Summary of information about company principal subsidiaries	Particulars of the Company’s principal subsidiaries are as follows: Name Place of Issued and registered share capital Percentage of equity and voting a Principal activities 2019 2020 Direct Indirect Direct Indirect AMTD International Holding Group Limited (formerly known as AMTD Financial Planning Limited) (“AMTD IHG”) Hong Kong (“HK”) HK$ 500,000 100 % — 100 % — Investment holding AMTD Securities Limited HK HK$ 1 — 100 % — 100 % Investment holding AMTD Global Markets Limited (formerly known as AMTD Asset Management Limited) (“AMTD GM”) HK HK$ 1,561,610,980 — 100 % — 100 % Provision of investment banking, financial advisory services and asset management services AMTD Global Markets Pte Ltd. Singapore SGD 5,000,000 — — — 100 % Provision of investment banking and financial advisory services Asia Alternative Asset Partners Limited (“AMTD AAAPL”) HK HK$ 5,000,000 — 100 % — 100 % Provision of investment advisory services AMTD Strategic Investment Limited (“AMTD SI”) HK HK$ 1 — 100 % — 100 % Strategic investment AMTD Investment Solutions Group Limited (“AMTD ISG”) HK HK$ 1 — 100 % — 100 % Strategic investment AMTD Overseas Limited (formerly known as AMTD Europe Holdings Limited) (“AMTD Overseas”) HK HK$ 1 — 100 % — 100 % Strategic investment AMTD Fintech Investment Limited (“AMTD FI”) HK HK$ 1 — 100 % — 100 % Strategic investment AMTD Investment Inc. (“AMTD Investment”) Cayman Islands US$ 1 100 % — 100 % — Investment holding AMTD Strategic Investment (BVI) Limited BVI US$ 1 — 100 % — 100 % Investment holding AMTD Investment Solutions Group (BVI) Limited BVI US$ 1 — 100 % — 100 % Investment holding AMTD Overseas (BVI) Limited BVI US$ 1 — 100 % — 100 % Investment holding AMTD Fintech Investment (BVI) Limited BVI US$ 1 — 100 % — 100 % Investment holding 尚乘(珠海)股权投资基金管理有限公司 AMTD Capital Co., Ltd. * People’s Republic of China US$ 2,000,000 — — — 100 % Private fund management * The translation i s

Basis of Presentation (Tables)

Basis of Presentation (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about property, plant and equipment [abstract]
Summary of annual rates for depreciation of property plant and equipment	The principal annual rates used for this purpose are as follows: Furniture and fixtures 20% Computer equipment 33 1 3

Operating Segment Information (

Operating Segment Information (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of operating segments [abstract]
Summary of operating segments	Segment revenue and results For the year ended December 31, 2018 Investment Asset Strategic Total HK$ HK$ HK$ HK$ Segment revenue Revenue —from contracts with 288,591,129 78,946,986 — 367,538,115 —others — — 355,688,019 355,688,019 Intersegment — 172,809 — 172,809 288,591,129 79,119,795 355,688,019 723,398,943 Reconciliation Intersegment (172,809 ) 723,226,134 Segment results 254,901,096 57,385,943 350,306,996 662,594,035 Unallocated other income 15,372,350 Unallocated finance costs (3,666,040 ) Corporate and other unallocated expenses (65,335,119 ) Profit before tax 608,965,226 Other segment information Depreciation 334,841 Capital expenditure 14,214 For the year ended December 31, 2019 Investment Asset Strategic Total HK$ HK$ HK$ HK$ Segment revenue Revenue —from contracts with 455,955,912 124,050,364 — 580,006,276 —others — — 624,167,735 624,167,735 455,955,912 124,050,364 624,167,735 1,204,174,011 Segment results 413,354,182 109,182,198 624,167,734 1,146,704,114 Unallocated other income 22,088,780 Unallocated finance costs (27,705,955 ) Corporate and other unallocated expenses (151,832,967 ) Profit before tax 989,253,972 Other segment information Depreciation 113,919 Capital expenditure 13,710 For the year ended December 31, 2020 Investment Asset Strategic Total HK$ HK$ HK$ HK$ Segment revenue Revenue —from contracts with customers 376,324,880 230,938,245 — 607,263,125 —others — — 511,277,048 511,277,048 376,324,880 230,938,245 511,277,048 1,118,540,173 Segment results 339,933,098 225,338,122 511,277,048 1,076,548,268 Unallocated other income 111,867,468 Unallocated finance costs (21,510,079 ) Unallocated net changes in fair value on derivative financial liability 7,765,148 Corporate and other unallocated expenses (173,250,588 ) Profit before tax 1,001,420,217 Other segment information Depreciation 30,374 Capital expenditure 110,734
Summary of segment assets and liabilities	Segment assets and liabilities December 31, 2019 2020 HK$ HK$ Segment assets Investment banking 64,813,018 21,976,920 Asset management 539,713,339 265,452,001 Strategic investments 2,894,217,916 3,280,242,681 Total segment assets 3,498,744,273 3,567,671,602 Unallocated corporate assets 4,771,948,379 6,958,618,685 Total assets 8,270,692,652 10,526,290,287 Segment liabilities Asset management 492,039,337 249,257,201 Strategic investments 317,722,439 — Total segment liabilities 809,761,776 249,257,201 Unallocated corporate liabilities 632,435,932 552,857,491 Total liabilities 1,442,197,708 802,114,692
Summary of group's revenue from external customers by geographical areas	The following table sets forth the Group’s revenue from contracts with customer by geographical areas based on the location of the customers: For the year ended December 31, 2018 Investment Asset Total HK$ HK$ HK$ Hong Kong 128,880,466 39,451,207 168,331,673 Mainland China 158,780,244 36,615,872 195,396,116 Others 930,419 2,879,907 3,810,326 288,591,129 78,946,986 367,538,115 For the year ended December 31, 2019 Investment Asset Total HK$ HK$ HK$ Hong Kong 118,086,900 21,441,042 139,527,942 Mainland China 300,078,498 92,797,260 392,875,758 United States 30,342,514 3,229,613 33,572,127 Others 7,448,000 6,582,449 14,030,449 455,955,912 124,050,364 580,006,276 For the year ended December 31, 2020 Investment Asset Total HK$ HK$ HK$ Hong Kong 212,766,711 21,836,318 234,603,029 Mainland China 163,447,101 192,391,853 355,838,954 Others 111,068 16,710,074 16,821,142 376,324,880 230,938,245 607,263,125

Revenue and Other Income (Table

Revenue and Other Income (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of disaggregation of revenue from contracts with customers [abstract]
Summary of analysis of revenue	For the year ended December 31, 2018 2019 2020 HK$ HK$ HK$ Revenue from contracts with customers Investment banking Investment banking fee and income 288,591,129 455,955,912 376,324,880 Asset management Management fee and performance-based incentive fee 43,465,186 103,509,196 196,352,216 Brokerage and handling fees 31,393,570 19,383,099 33,359,007 Others 4,088,230 1,158,069 1,227,022 78,946,986 124,050,364 230,938,245 367,538,115 580,006,276 607,263,125 Revenue from other sources Strategic investments Dividend income 99,227,724 92,316,548 88,078,159 Gain related to disposed investment — 8,235,180 82,948,508 99,227,724 100,551,728 171,026,667 Net fair value changes on financial assets at fair value through profit or loss and stock loan -from listed equity shares, at quoted price 202,304,000 (683,060,000 ) (371,305,326 ) -from unlisted debt securities 86,000 — — -from unlisted equity shares 54,070,295 41,456,007 313,561,520 -from unlisted equity linked note — — 26,688,861 Total net fair value changes on financial assets at fair value through profit or loss and stock loan 256,460,295 (641,603,993 ) (31,054,945 ) Net fair value changes on derivative financial asset -from derivative financial asset — 1,165,220,000 371,305,326 355,688,019 624,167,735 511,277,048 Total r 723,226,134 1,204,174,011 1,118,540,173
Summary of revenue from contracts with customers	For the year ended December 31, 2018 Segments Investment Asset Strategic Total HK$ HK$ HK$ HK$ Investment banking Underwriting commission and brokerage fee 217,002,789 — — 217,002,789 Financial advisory fee 71,588,340 — — 71,588,340 Asset management Management fee and performance-based incentive fee — 43,465,186 — 43,465,186 Brokerage and handling fee — 31,393,570 — 31,393,570 Strategic investment Net fair value changes on financial assets at fair value through profit or loss and stock loan — — 256,460,295 256,460,295 Dividend income — — 99,227,724 99,227,724 Others — 4,088,230 — 4,088,230 Total 288,591,129 78,946,986 355,688,019 723,226,134 For the year ended December 31, 2019 Segments Investment Asset Strategic Total HK$ HK$ HK$ HK$ Investment banking Underwriting commission and brokerage fee 403,573,912 — — 403,573,912 Financial advisory fee 52,382,000 — — 52,382,000 Asset management Management fee and performance-based incentive fee — 103,509,196 — 103,509,196 Brokerage and handling fee — 19,383,099 — 19,383,099 Strategic investment Net fair value changes on financial assets at fair value through profit or loss and stock loan — — (641,603,993 ) (641,603,993 ) Net fair value changes on derivative financial asset — — 1,165,220,000 1,165,220,000 Gain related to disposed investment — — 8,235,180 8,235,180 Dividend income — — 92,316,548 92,316,548 Others — 1,158,069 — 1,158,069 Total 455,955,912 124,050,364 624,167,735 1,204,174,011 For the year ended December 31, 2020 Segments Investment Asset Strategic Total HK$ HK$ HK$ HK$ Investment banking Underwriting commission and brokerage fee 165,472,605 — — 165,472,605 Financial advisory fee 210,852,275 — — 210,852,275 Asset management Management fee and performance-based incentive fee — 196,352,216 — 196,352,216 Brokerage and handling fee — 33,359,007 — 33,359,007 Strategic investment Net fair value changes on financial assets at fair value through profit or loss and stock loan — — (31,054,945 ) (31,054,945 ) Net fair value changes on derivative financial asset — — 371,305,326 371,305,326 Gain related to disposed investment — — 82,948,508 82,948,508 Dividend income — — 88,078,159 88,078,159 Others — 1,227,022 — 1,227,022 Total 376,324,880 230,938,245 511,277,048 1,118,540,173
Disclosure of Revenue Recognition from Performance Obligation	The following table shows the amounts of revenues recognised in the current period that were included in the contract liabilities at the beginning of the reporting period: A s of 2019 2020 HK$ HK$ Revenue recogni s Asset management 39,296,815 94,328,532
Summary of transaction prices allocated to the remaining performance obligations	As of December 31, 2019 2020 HK$ HK$ Within one year 75,077,754 35,716,912 More than one year 36,896,409 11,554,086 111,974,163 47,270,998
Summary of other income	Other income For the year ended December 31, 2018 2019 2020 HK$ HK$ HK$ Bank interest income 7,681 1,115,839 67,783 Interest income from the immediate holding company (Note 28(a)( i — 17,562,104 101,159,079 Other income from a fellow subsidiary (Note 28(b)(iv)) 3,666,040 — — Government grant s — — 3,061,665 Others 11,719,054 3,412,325 7,578,941 15,392,775 22,090,268 111,867,468
Summary of timing of revenue recognition	Segments Investment Asset Total HK$ HK$ HK$ Timing of revenue recognition Services transferred at a point in time 217,002,789 35,481,800 252,484,589 Services transferred over time 71,588,340 43,465,186 115,053,526 Total revenue from contracts with customers 288,591,129 78,946,986 367,538,115 Segments Investment Asset Total HK$ HK$ HK$ Timing of revenue recognition Services transferred at a point in time 403,573,912 20,541,168 424,115,080 Services transferred over time 52,382,000 103,509,196 155,891,196 Total revenue from contracts with customers 455,955,912 124,050,364 580,006,276 Segments Investment Asset Total HK$ HK$ HK$ Timing of revenue recognition Services transferred at a point in time 165,472,605 34,586,029 200,058,634 Services transferred over time 210,852,275 196,352,216 407,204,491 Total revenue from contracts with customers 376,324,880 230,938,245 607,263,125

Operating Expenses (Tables)

Operating Expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Operating Income Expense [Abstract]
Summary of Operating Expenses and Foreign Exchange Differences	Other operating expenses included in the consolidated statements of profit or loss and other comprehensive income are as follows: For the year ended December 31, 2018 2019 2020 HK$ HK$ HK$ Other operating expenses Marketing and brand promotional expenses 11,864,097 12,903,989 5,696,606 Premises costs and office utilities —Premises costs 9,465,094 11,965,344 14,244,127 —Office utilities 6,117,640 9,152,802 6,601,790 15,582,734 21,118,146 20,845,917 Traveling and business development expenses 10,860,318 19,362,587 5,636,354 Commissions and bank charges 5,197,984 2,307,050 1,957,433 Office and maintenance expenses 1,603,484 1,430,834 175,348 Administrative service fee — 12,000,000 24,330,000 Legal and professional fees —Auditor’s remuneration 789,000 11,402,267 12,068,575 —Other legal and professional fees 1,650,070 11,776,501 12,434,767 —Professional indemnity expense — — 11,811,165 2,439,070 23,178,768 36,314,507 Staff welfare and staff recruitment expenses 3,659,523 2,471,705 1,223,673 Others —Depreciation 334,841 113,919 30,374 —Foreign exchange differences, net 382,757 12,596,647 3,222,789 —Other expenses 657,299 7,213,210 4,290,210 1,374,897 19,923,776 7,543,373 52,582,107 114,696,855 103,723,211

Staff Costs (Tables)

Staff Costs (Tables)	12 Months Ended
	Dec. 31, 2020
Classes of employee benefits expense [abstract]
Summary of staff costs	For the year ended December 31, 2018 2019 2020 HK$ HK$ HK$ Salaries and bonuses 67,187,493 93,703,848 93,660,617 Pension scheme contributions (defined contribution schemes) 837,020 903,649 749,664 68,024,513 94,607,497 94,410,281

Finance Costs (Tables)

Finance Costs (Tables)	12 Months Ended
	Dec. 31, 2020
Finance Costs [Abstract]
Summary of Finance Costs	An analysis of finance costs is as follows: For the year ended December 31, 2018 2019 2020 HK$ HK$ HK$ Interests on margin loans payable 9,047,063 27,705,955 12,475,296 Interests on convertible bond — — 7,717,348 Interests on bank borrowings — — 1,317,435 9,047,063 27,705,955 21,510,079

Income Tax Expense_(Credit) (Ta

Income Tax Expense/(Credit) (Tables)	12 Months Ended
	Dec. 31, 2020
Major components of tax expense (income) [abstract]
Components of Income Tax Benefits/(Expenses)	Hong Kong profits tax has been provided at the rate of 16.5% (2019: 16.5%; 2018: 16.5%) on the estimated assessable profits arising in Hong Kong: For the year ended December 31, Note 2018 2019 2020 HK$ HK$ HK$ Hong Kong profits tax Charge for the year 43,127,820 69,585,469 96,708,600 Overprovision in prior year (2,359,495 ) — (143,606 ) Deferred tax 3, 23 33,148,500 79,556,400 (242,913,577 ) The People’s Republic of China withholding tax c 9,922,772 9,207,649 8,807,816 83,839,597 158,349,518 (137,540,767 )
Reconciliation of income tax expenses and profit before tax at statutory tax rate	A reconciliation of tax expense/(credit) and profit before tax at the Hong Kong statutory tax rate in which the Group’s major operating subsidiaries are domiciled is as follows: For the year ended December 31, 2018 2019 2020 HK$ HK$ HK$ Profit before tax 608,965,226 989,253,972 1,001,420,217 Tax at statutory tax rate of 16.5% 100,479,262 163,226,906 165,234,336 Tax effect of two-tiered — — (165,000 ) Tax effect of non-taxable (25,554,680 ) (23,255,305 ) (79,190,106 ) Tax effect of non-deductible 1,355,050 8,952,076 10,887,971 Tax effect of unrecognised temporary difference 16,553 223,434 (25,011 ) Reversal of deferred tax liability — — (242,913,577 ) Tax effect of tax loss not recognised 10,797 24,541 — Overprovision in prior year (2,359,495 ) — (143,606 ) Utilization of tax losses previously not recognised (30,662 ) (29,783 ) (33,590 ) Withholding tax on the dividend income 9,922,772 9,207,649 8,807,816 Income tax expense/(credit) 83,839,597 158,349,518 (137,540,767 )

Earnings Per Share Attributab_2

Earnings Per Share Attributable To Ordinary Equity Holders of The Parent (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings/(loss) Per Share Attributable To Ordinary Equity Holders of The Parent
Summary of Basic and diluted earnings per share	Basic and diluted earnings per share for each of the periods presented are calculated as follows: For the year ended December 31, 2018 2019 2020 Basic earnings per share: Numerator: Profit attributable to ordinary equity holders of the parent used in the basic earnings per share calculation (HK$)-basic Class A — 69,906,757 249,206,548 Profit attributable to ordinary equity holders of the parent used in the basic earnings per share calculation (HK$)-basic Class B 468,061,079 868,366,128 810,766,722 Denominator: Weighted average number of Class A ordinary shares outstanding—basic — 16,112,737 57,474,495 Weighted average number of Class B ordinary shares outstanding—basic 200,000,001 200,148,822 186,987,093 Basic earnings per share (HK$) Class A — 4.34 4.34 Basic earnings per share (HK$) Class B 2.34 4.34 4.34 Diluted earnings per share: Numerator: Profit attributable to ordinary equity holders of the parent used in the diluted earnings per share calculation (HK$)-diluted Class A — 69,906,757 248,629,790 Profit attributable to ordinary equity holders of the parent used in the diluted earnings per share calculation (HK$)-diluted Class B 468,061,079 868,366,128 810,766,722 Denominator: Weighted average number of Class A ordinary shares outstanding—diluted — 16,117,254 58,966,142 Weighted average number of Class B ordinary shares outstanding—diluted 200,000,001 200,204,936 186,987,093 Diluted earnings per share (HK$) Class A — 4.34 4.22 Diluted earnings per share (HK$) Class B 2.34 4.34 4.34
Summary of weighted average shares	Number of shares For the year ended December 31, 2018 2019 2020 Shares: Weighted average number of Class A ordinary shares in issue during the year used in the basic earnings per share calculation — 16,112,737 57,474,495 Effect of dilution – weighted average number of ordinary shares: Warrants — 864 — Convertible bond — 3,653 1,491,647 — 16,117,254 58,966,142 Weighted average number of Class B ordinary shares in issue during the year used in the basic earnings per share calculation 200,000,001 200,148,822 186,987,093 Effect of dilution – weighted average number of ordinary shares: Warrants — 10,728 — Convertible bond — 45,386 — 200,000,001 200,204,936 186,987,093

Accounts Receivable (Tables)

Accounts Receivable (Tables)	12 Months Ended
	Dec. 31, 2020
Trade and other receivables [abstract]
Summary of accounts receivables	As of December 31, Notes 2019 2020 HK$ HK$ Receivable from investment banking services (i) 66,740,188 21,976,920 Receivable from brokers and clearing house (ii) 261,329,847 19,864,662 Clients’ receivables (ii) 18,309,539 35,508,668 346,379,574 77,350,250 Notes: (i) The normal settlement terms of receivables from investment banking services are specific terms mutually agreed between the contracting parties. Receivable from investing banking services is non-interest bearing. As of January 1, 2019, the Group has receivable arising from contracts with customers in investment banking services of (ii) As of December 31, 2020, included in the clients’ receivables are non-interest bearing receivables arising from asset management service of HK$34,208,077 (2019: HK$9,428,553). There are normal settlement terms of those receivables which are specific terms mutually agreed between the contracting parties. As of January 1, 2019, the Group has receivables arising from contracts with customers in asset management service of HK$5,512,422. The normal settlement terms of clients’ receivables and receivable from brokers and clearing house arising from asset management services are 2 days after trade date or at specific terms agreed with brokers and clearing house. Overdue clients’ receivable is interest-bearing. As of December 31, 2019 and 2020, the Group’s clients’ receivables of
Summary of aging analysis of accounts receivable	As of December 31, 2019 2020 HK$ HK$ Not yet due 294,541,514 67,241,210 Past due Within 1 month 41,032,006 7,797,011 1 to 3 months 5,232,320 221,183 Over 3 months 5,573,734 2,090,846 346,379,574 77,350,250
Summary of accounts receivables past due analysis	Internal credit risk rating AAA AA A BBB BB CCC Total As of Expected credit loss rate — 0.14 % 0.17 % 0.33 % 0.59 % 18.24 % — Gross carrying amount (HK$’000) — 141,440 64,914 136,928 1,826 1,272 346,380 Internal credit risk rating AAA AA A BBB BB CCC Total As of Expected credit loss rate — — 0.07 % 0.05 % — 0.56 % — Gross carrying amount (HK$’000) — — 21,977 52,723 — 2,650 77,350

Prepayments, Deposits And Oth_2

Prepayments, Deposits And Other Receivables (Tables)	12 Months Ended
	Dec. 31, 2020
Prepayments, Deposits And Other Receivables [Abstract]
Summary of Prepayments, Deposits And Other Receivables	As of December 31, 2019 2020 HK$ HK$ Prepayments 35,085,959 23,221,564 Deposits 451,593 559,933 Other receivables 903,420 1,090,894 36,440,972 24,872,391

Financial Assets At Fair Valu_2

Financial Assets At Fair Value Through Profit Or Loss And Stock Loan (Tables)	12 Months Ended
	Dec. 31, 2020
Financial Assets At Fair Value Through Profit or Loss And Stock Loan [Abstract]
Summary of financial assets at fair value through profit or loss and stock loan	As of December 31, 2019 2020 HK$ HK$ Financial assets at fair value through profit or loss, other than stock loan 1,572,697,716 1,377,856,715 Stock loan 1,200,980,200 878,483,400 Total financial assets at fair value through profit or loss 2,773,677,916 2,256,340,115 Listed equity shares, at quoted price —Investment A 2,450,980,000 1,001,399,213 Total listed equity shares, at quoted price 2,450,980,000 1,001,399,213 Unlisted equity shares —Investment B 77,023,394 85,706,112 —Investment C 47,149,360 24,111,436 —Investment D 198,525,162 190,038,137 —Investment E — 892,565,280 Total unlisted equity shares 322,697,916 1,192,420,965 Unlisted equity linked note —Investment F — 62,519,937 Total unlisted equity linked note — 62,519,937 2,773,677,916 2,256,340,115

Derivative Financial Asset (Tab

Derivative Financial Asset (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about financial instruments [abstract]
Summary of financial Asset fair value	Fair value using valuation Day 1 (profit)/loss Net carrying Net changes in fair value HK$ HK$ HK$ HK$ At — — — — Initial transaction on April 1, 2019 355,294,216 (355,294,216 ) — — Recogni s - Changes in fair value 106,129,339 — 106,129,339 106,129,339 - Recognition of day 1 profit or loss — 88,338,180 88,338,180 88,338,180 A t 461,423,555 (266,956,036 ) 194,467,519 194,467,519 Contract renegotiation on July 1, 2019 115,758,384 (115,758,384 ) — — A t 577,181,939 (382,714,420 ) 194,467,519 194,467,519 Recogni s - Changes in fair value 230,436,061 — 230,436,061 230,436,061 - Recognition of day 1 profit or loss — 382,714,420 382,714,420 382,714,420 A t 807,618,000 — 807,618,000 807,618,000 Contract renegotiation on September 30, 2019 1,538,635 (1,538,635 ) — — At September 30, 2019 809,156,635 (1,538,635 ) 807,618,000 807,618,000 Recogni s - Changes in fair value 356,063,365 — 356,063,365 356,063,365 - Recognition of day 1 profit or loss — 1,538,635 1,538,635 1,538,635 A t 1,165,220,000 — 1,165,220,000 1,165,220,000 Contract renegotiation on December 31, 2019 (17,847,221 ) 17,847,221 — — A t 1,147,372,779 17,847,221 1,165,220,000 1,165,220,000 Fair value using valuation Day 1 (profit)/loss Net carrying Net changes in fair value HK$ HK$ HK$ HK$ A t 1,147,372,779 17,847,221 1,165,220,000 — Recogni s - Changes in fair value 307,143,221 — 307,143,221 307,143,221 - Recognition of day 1 profit or loss — (17,847,221 ) (17,847,221 ) (17,847,221 ) At March 31, 2020 1,454,516,000 — 1,454,516,000 289,296,000 Contract renegotiation on March 31, 2020 (17,215,921 ) 17,215,921 — — At March 31, 2020 1,437,300,079 17,215,921 1,454,516,000 289,296,000 Recognised in profit and loss prior to contract renegotiation on June 30, 2020 - Changes in fair value (13,291,518 ) — (13,291,518 ) (13,291,518 ) - Partial settlement on June 26, 2020 (618,682,641 ) — (618,682,641 ) — - Gain related to disposed investment 106,059,881 — 106,059,881 — - Recognition of day 1 profit or loss — (17,215,921 ) (17,215,921 ) (17,215,921 ) At June 30, 2020 911,385,801 — 911,385,801 258,788,561 Contract renegotiation on June 30, 2020 (3,679,712 ) 3,679,712 — — At June 30, 2020 907,706,089 3,679,712 911,385,801 258,788,561 Recogni s - Changes in fair value 93,693,124 — 93,693,124 93,693,124 - Recognition of day 1 profit or loss — (3,679,712 ) (3,679,712 ) (3,679,712 ) At September 30, 2020 1,001,399,213 — 1,001,399,213 348,801,973 Contract renegotiation on Septemb 0 (3,040,097 ) 3,040,097 — — At September 30, 2020 998,359,116 3,040,097 1,001,399,213 348,801,973 Recognised in profit and loss prior to contract renegotiation on December 31, 2020 - Changes in fair value 25,543,450 — 25,543,450 25,543,450 - Recognition of day 1 profit or loss — (3,040,097 ) (3,040,097 ) (3,040,097 ) A 1,023,902,566 — 1,023,902,566 371,305,326 Contract renegotiation on December 31, 2020 12,266,453 (12,266,453 ) — — At December 31, 2020 1,036,169,019 (12,266,453 ) 1,023,902,566 371,305,326

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure Of Detailed Information About Other Assets [Abstract]
Summary of detailed information about other assets	As of December 31, 2019 2020 HK$ HK$ Segregated clients’ bank accounts balances: - Asset management business 225,439,918 194,907,501 - Others 20,062,862 2,401,674 245,502,780 197,309,175

Cash And Bank Balances (Tables)

Cash And Bank Balances (Tables)	12 Months Ended
	Dec. 31, 2020
Cash and cash equivalents [abstract]
Summary of detailed information about cash and bank balances	As of December 31, 2019 2020 HK$ HK$ Cash and cash equivalents: - Cash on hand 31,031 31,031 - General bank accounts 766,399,440 453,935,733 Total cash and cash equivalents 766,430,471 453,966,764

Property, Plant And Equipment (

Property, Plant And Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about property, plant and equipment [abstract]
Disclosure of detailed information about property, plant and equipment	Furniture Computer Total HK$ HK$ HK$ Cost: At January 1, 2019 11,090 4,059,924 4,071,014 Additions — 13,710 13,710 At December 31, 2019 and January 1, 2020 11,090 4,073,634 4,084,724 Additions — 110,734 110,734 At December 31, 2020 11,090 4,184,368 4,195,458 Accumulated depreciation: At January 1, 2019 (6,278 ) (3,933,530 ) (3,939,808 ) Charge for the year (2,218 ) (111,701 ) (113,919 ) At December 31, 2019 and January 1, 2020 (8,496 ) (4,045,231 ) (4,053,727 ) Charge for the year (2,218 ) (28,156 ) (30,374 ) At December 31, 2020 (10,714 ) (4,073,387 ) (4,084,101 ) Carrying amount: At January 1, 2019 4,812 126,394 131,206 At December 31, 2019 2,594 28,403 30,997 At December 31, 2020 376 110,981 111,357

Intangible Asset (Tables)

Intangible Asset (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of Intangible assets [Abstract]
Summary of intangible assets	HK$ Net carrying amount as of 15,171,170

Accounts Payable (Tables)

Accounts Payable (Tables)	12 Months Ended
	Dec. 31, 2020
Trade and other payables [abstract]
Summary of accounts payable	As of Note 2019 2020 HK$ HK$ Clients’ payables (i) 256,423,531 138,747 Payables to clearing house and brokers (i) 9,062,629 1,311,748 Clients’ monies held on trust (Note 15) 226,553,176 200,535,707 492,039,336 201,986,202 Note: (i) As of December 31, 2019 and 2020, payables to clearing house and brokers and clients’ payable arising from assets management business are repayable 2 days after trade date or at pre-agreed
Summary of aging analysis of accounts payable	An ageing analysis of the accounts payable as of the end of the reporting period is as follows: As of December 31, 2019 2020 HK$ HK$ Within 1 month 265,486,160 1,450,495 Repayable on demand 226,553,176 200,535,707 492,039,336 201,986,202

Bank Borrowings (Tables)

Bank Borrowings (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about borrowings [abstract]
Summary of currency analysis of bank borrowings	A currency analysis of bank borrowings as of the end of the reporting periods is as follows: As of December 31, 2019 2020 HK$ HK$ Hong Kong dollars — 116,000,000 United States dollars — 116,280,000 — 232,280,000

Other payables and accruals (Ta

Other payables and accruals (Tables)	12 Months Ended
	Dec. 31, 2020
Accrued Expenses And Other Liabilities [Abstract]
Summary of detailed information about other payables and accruals	As of December 31, Notes 2019 2020 HK$ HK$ Accruals and other payables 66,043,431 81,054,895 Contract liabilities (i) 111,974,163 47,270,998 178,017,594 128,325,893 Note: (i) Contract liabilities include upfront fees received to deliver asset management services.
Summary of detailed information about contract liabilities	Movements in contract liabilities during the years ended December 31, 2019 and 2020 are as follows: HK$ At January 1, 2019 55,111,818 Upfront fee received during the year 127,418,656 Revenue recognised during the year (70,556,311 ) At December 31, 2019 111,974,163 Upfront fee received during the year 38,201,342 Revenue recognised during the year (102,904,507 ) At December 31, 2020 47,270,998

Deferred Tax Liabilities (Table

Deferred Tax Liabilities (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of temporary difference, unused tax losses and unused tax credits [abstract]
Summary of deferred tax liabilites	The movements in deferred tax liabilities during the years are as follows: Unrealised HK$ At January 1, 2019 163,357,177 Deferred tax charged to profit or loss during the year (Note 9) 79,556,400 At December 31, 2019 and January 1, 2020 242,913,577 Deferred tax credited to profit or loss during the year (Note 9) (242,913,577 ) At December 31, 2020 —

Convertible Bond and Derivati_2

Convertible Bond and Derivative Financial Liability (Tables)	12 Months Ended
	Dec. 31, 2020
Borrowings [abstract]
Summary of convertible bond	The movement of convertible bond during the years ended December 31, 2019 and 2020 are as follows: Liability Derivative HK$ HK$ At January 1, 2019 — — Convertible bond issued during the year 95,995,690 20,813,810 At December 31, 2019 95,995,690 20,813,810 Interest for the year 7,717,348 — Fair value gain recognised in profit or loss — (7,765,148 ) Exchange alignment (434,609 ) (94,349 ) At December 31, 2020 103,278,429 12,954,313

Share Capital and Capital Res_2

Share Capital and Capital Reserve (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of classes of share capital [abstract]
Summary of reserves within equity	Numbers of shares Notes Class A Class B At January 1, 2018 and December 31, 2018 — 200,000,001 Exercise of warrants (i ) 1,666,666 — Pre-IPO (ii ) 8,236,838 — Initial public offering (iii ) 23,873,655 — New issuance of shares (iv ) 7,307,692 4,526,627 At December 31, 2019 41,084,851 204,526,628 Conver s 21,243,000 (21,243,000 ) At December 31, 2020 62,327,851 183,283,628 Notes: (i) On March 6, 2019, the Company issued warrants for an aggregate consideration of US$2 million (equiv a e ce (ii) Between April 26, 2019 and June 19, 2019, the Company issued 8,236,838 Class A ordinary shares to third parties investors for an aggregate consideration of US$53.5 million for the pre-IPO (iii) On August 5, 2019, the Company completed its Initial Public Offering (“IPO”) on the New York Stock Exchange under the symbol of “HKIB”. The Company issued an aggregate 23,873,655 ADSs, representing 23,873,655 Class A Ordinary Shares for total net proceeds of HK$1,507.2 mill i (iv) In December 2019, the Company issued an aggregate of 7,307,692 Class A ordinary shares and 4,526,627 Class B ordinary shares, both with par value US$0.0001 per share, for an aggregate amount of US$100 million (representing a per share price of US$8.45) to Value Partners Greater China High Yield Income Fund, Ariana Capital Investment Limited, and Infinity Power Investments Limited in the form of private placement. Infinity Power Investments Limited is a British Virgin Islands company wholly owned by Mr. Calvin Choi, founder

Notes To The Consolidated Sta_2

Notes To The Consolidated Statements Of Cash Flows (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of reconciliation of liabilities arising from financing activities [abstract]
Summary of liabilities arising from financing activities	(b) Changes in liabilities arising from financing activities Margin loans Derivative Convertible Bank Total HK$ HK$ HK$ HK$ HK$ At January 1, 2018 351,609,630 — — — 351,609,630 Cash flow from financing activities (38,657,144 ) — — — (38,657,144 ) Interest expenses 9,047,063 — — — 9,047,063 At December, 31 2018 321,999,549 — — — 321,999,549 Cash flow from financing activities (31,983,066 ) 20,813,810 95,995,690 — 84,826,434 Interest expenses 27,705,955 — — — 27,705,955 At December 31, 2019 317,722,438 20,813,810 95,995,690 — 434,531,938 Cash flow from financing activities (330,197,734 ) — — 230,962,565 (99,235,169 ) Interest expenses 12,475,296 — 7,717,348 1,317,435 21,510,079 Fair value gain recognised in profit or loss — (7,765,148 ) — — (7,765,148 ) Exchange alignment — (94,349 ) (434,609 ) — (528,958 ) At December 31, 2020 — 12,954,313 103,278,429 232,280,000 348,512,742
Summary of movement of balances with related parties	(c) Changes in balances with related parties For the year ended December 31, 2018 Related Fellow Immediate Operating activities 7,500 (699,864,420 ) 439,200,382 Financing activities — 203,607,914 — Net cash inflow/(outflow) 7,500 (496,256,506 ) 439,200,382 For the year ended December 31, 2019 Related Fellow Immediate HK$ Investing activities — — (2,957,926,150 ) Net cash outflow — — (2,957,926,150 ) For the year ended December 31, 2020 Related Fellow Immediate HK$ Investing activities — — (3,581,230,632 ) Net cash outflow — — (3,581,230,632 )

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2020
Related party transactions [abstract]
Summary of detailed information about additional information of transactions with related parties	(a) In addition to the transactions disclosed elsewhere in these consolidated financial statements, the Group had the following transactions with related parties during the years: For the year ended December 31, Notes 2018 2019 2020 HK$ HK$ HK$ Underwriting services rendered to immediate holding company (i) — 26,420,072 — Financial advisory services rendered to fellow subsidiaries (i) 70,988,340 15,691,000 30,231,825 Financial advisory services rendered to a related party controlled by a director of the Company (i) — — 95,513,306 Management fee paid to immediate holding company (i) — 150,000 150,000 Investment advisory fee paid to a fellow subsidiary (i) 180,000 180,000 180,000 Insurance commission paid to a fellow subsidiary (i) 57,063 84,133 105,251 Asset management services rendered to a fellow subsidiary (i) 5,784,775 457,431 1,362 Acquisition of investment from a fellow subsidiary (ii)(a) 72,072,000 — — Acquisition of investment from immediate holding company (ii)(b) — — 556,161,528 Acquisition of investments from fellow subsidiaries (ii)(c) — — 148,671,602 Administrative service fee paid to immediate holding company (iii) — 12,000,000 24,000,000 Interest income from immediate holding company (iv) — 17,562,104 101,159,079 Recharge from/(to) immediate holding company —Staff costs 11,678,050 17,936,752 20,156,843 —Premises cost 9,329,432 5,300,986 14,010,263 —Office renovation 1,250,906 869,214 — —Other operating (income)/expenses, net (1,753,759 ) 9,798,649 — (iii) 20,504,629 33,905,601 34,167,106 Net changes in fair value on derivative financial asset entered into with a related party controlled by a director of the Company (v) — 1,165,220,000 321,797,949 Asset management service fee income from a related party controlled by a director of the Company (i) — 478,611 2,672,527 Investment banking service income from a related party controlled by a director of the Company (i) — 2,999,584 — Consideration received for disposal of investments to a related party controlled by a director of the Company (v) — — 972,215,580 Consideration received for settlement of derivatives contracts with a related party controlled by a director of the Company (v) — — 618,682,641 Consideration received for settlement of financial asset at fair value through profit or loss by a fellow subsidiary (ii)(c) — — 195,789,033 Notes: (i) The terms of these services were comparable to the fee and conditions offered to the major customers of the Group. (ii) a. The transaction represented the acquisition of ordinary shares of a listed company from its fellow subsidiary based on the market price as of December 12, 2018. b. The transaction represented the acquisition of ordinary shares of a fellow subsidiary from the immediate holding company based on the market price as of the date of acquisition. c. The transactions represented the acquisition and subsequent disposal of equity linked notes from fellow subsidiaries based on the market price as of the date of acquisition. (iii) During the years ended December 31, 2018 and 2019, staff costs, office renovation and other operating expenses (e.g. advertisement and promotional expense) were recharged by the immediate holding company based on the proportion of the Company’s revenue to the consolidated revenue of the immediate holding company, net of expenses incurred by the Group. Premises cost was recharged based on actual usage. Starting from the third quarter of fiscal year 2019, the immediate holding company charged a fixed service fee of HK$6,000,000 per quarter in place of recharging arrangement for certain operating expenses. (iv) The transaction represented the interest income carried at 2% per annum of advances to the immediate holding company which were repayable on demand. (v) In December 2019, the controlling person of the counterparty, with which the Group has entered into the Agreements (Note 14), was appointed as a Director to the Board of Directors of the Company. Accordingly, the counterparty became a related party of the Company. On October 27, 2020, the Agreements were novated to an external party.
Summary of detailed information about compensation of key management personnel	(c) Compensation of key management personnel of the Group: For the year ended December 31, 2018 2019 2020 HK$ HK$ HK$ Short-term employee benefits 19,473,470 43,062,534 32,692,568 Other long-term benefit 61,428 92,700 54,745 19,534,898 43,155,234 32,747,313

Financial Instruments By Cate_2

Financial Instruments By Category (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of financial liabilities [abstract]
Summary of financial assets	Financial assets Financial assets at Mandatorily required to be fair value Financial assets at cost Total HK$ HK$ HK$ Accounts receivable — 346,379,574 346,379,574 Financial assets included in prepayments, deposits and other receivables — 1,355,013 1,355,013 Due from immediate holding company — 2,921,838,772 2,921,838,772 Financial assets at fair value through profit or loss 1,572,697,716 — 1,572,697,716 Stock loan 1,200,980,200 — 1,200,980,200 Derivative financial asset 1,165,220,000 — 1,165,220,000 Other assets — 245,502,780 245,502,780 Cash and bank balances — 766,430,471 766,430,471 3,938,897,916 4,281,506,610 8,220,404,526 Financial assets at Mandatorily fair value Financial assets at cost Total HK$ HK$ HK$ Accounts receivable — 77,350,250 77,350,250 Financial assets included in prepayments, deposits and other receivables — 1,650,827 1,650,827 Due from immediate holding company — 6,477,266,499 6,477,266,499 Financial assets at fair value through profit or loss 1,377,856,715 — 1,377,856,715 Stock loan 878,483,400 — 878,483,400 Derivative financial asset 1,023,902,566 — 1,023,902,566 Other assets — 197,309,175 197,309,175 Cash and bank balances — 453,966,764 453,966,764 3,280,242,681 7,207,543,515 10,487,786,196
Summary of financial liabilities	Financial liabilities Financial liabilities Financial cost Total HK$ HK$ HK$ Accounts payable — 492,039,336 492,039,336 Margin loans payable — 317,722,438 317,722,438 Financial liabilities included in other payables and accruals — 66,043,431 66,043,431 Derivative financial liability 20,813,810 — 20,813,810 Convertible bond — 95,995,690 95,995,690 20,813,810 971,800,895 992,614,705 Financial liabilities Financial cost Total HK$ HK$ HK$ Accounts payable — 201,986,202 201,986,202 Financial liabilities included in other payables and accruals — 54,162,984 54,162,984 Bank borrowings — 232,280,000 232,280,000 Derivative financial liability 12,954,313 — 12,954,313 Convertible bond — 103,278,429 103,278,429 12,954,313 591,707,615 604,661,928

Fair Value and Fair Value Hie_2

Fair Value and Fair Value Hierarchy of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2020
Disclosure of detailed information about financial instruments [abstract]
Schedule of carrying amount and fair value of the financial instruments	The carrying amounts and fair values of the Group’s financial instruments measured at fair value are as follows: Carrying amounts Fair values As of December 31, As of December 31, 2019 2020 2019 2020 HK$ HK$ HK$ HK$ Financial assets Financial assets at fair value through profit or loss 1,572,697,716 1,377,856,715 1,572,697,716 1,377,856,715 Derivative financial asset 1,165,220,000 1,023,902,566 1,147,372,779 1,036,169,019 Stock loan 1,200,980,200 878,483,400 1,200,980,200 878,483,400 3,938,897,916 3,280,242,681 3,921,050,695 3,292,509,134 Financial liabilities Derivative financial liability 20,813,810 12,954,313 20,813,810 12,954,313
Disclosure of detailed information about in unobservable inputs to valuation of financial instruments explanatory	Below is summary of significant unobservable inputs to valuation of financial instruments together with a quantitative sensitivity analysis as of December 31, 2019: Valuation Significant Range or Sensitivity of value to the input Unlisted equity investment-Investment C Multiple/ EVA Equity volatility 33.08% 5% increase/decrease in volatility results in decrease/increase in fair value by 1.0%/0.3% Average P/E multiple of peers 10.8 5% increase/decrease in P/E multiple results in increase/decrease in fair value by 5.4%/4.1% Derivative financial asset MCS Volatility of Underlying Assets 32.82% 5% increase/decrease in volatility results in increase/decrease in fair value by 0.02%/0.23% Credit rating BB One rank level increase in credit rating of counterparty from BB to BBB results in increase in fair value by 0.04% One rank level decrease in credit rating of counterparty from BB to B results in decrease in fair value by 0.80% Derivative financial liability Binomial option pricing model Volatility 67.87% 5% increase/decrease in volatility results in increase/decrease in fair value by 4.58%/4.66% Discount rate 12.52% 5% increase/decrease in discount rate results in increase/decrease in fair value by 0.32%/0.32% Below is summary of significant unobservable inputs to valuation of financial instruments together with a quantitative sensitivity analysis as of December 31, 2020: Valuation Significant Estimate Sensitivity of value to the input Unlisted equity investment-Investment B Multiple/ EVA Equity volatility 63.61% 5% increase/decrease in volatility results in decrease/increase in fair value by 3.5%/3.3% Unlisted equity investment-Investment C Multiple/ EVA Equity volatility 39.64% 5% increase/decrease in volatility results in decrease/increase in fair value by 0.9%/0.9% Median P/E multiple of peers 10.4 5% increase/decrease in P/E multiple results in increase/decrease in fair value by 4.7%/4.8% Derivative financial asset MCS Volatility of Underlying Assets 46.03% 5% increase/decrease in volatility results in increase/decrease in fair value by 0.23%/0.11% Credit rating BB One rank level increase in credit rating of counterparty from BB to BBB results in increase in fair value by 0.02% One rank level decrease in credit rating of counterparty from BB to B results in decrease in fair value by 0.16% Derivative financial liability Binomial option pricing model Volatility 56.58% 5% increase/decrease in volatility results in increase/decrease in fair value by 1.63%/1.66% Discount rate 9.77% 5% increase/decrease in discount rate results in decrease/increase in fair value by 8.22%/9.41%
Disclosure of fair value measurement of assets explanatory	The following tables illustrate the fair value measurement hierarchy of the Group’s financial instruments: Assets measured at fair value Fair value measurement using Quoted prices in active (Level 1) Significant (Level 2) Significant (Level 3) Total HK$ HK$ HK$ HK$ As o f Financial assets at fair value through profit or loss 1,249,999,800 — 322,697,916 1,572,697,716 Stock loan 1,200,980,200 — — 1,200,980,200 2,450,980,000 — 322,697,916 2,773,677,916 Derivative financial asset — — 1,165,220,000 1,165,220,000 2,450,980,000 — 1,487,917,916 3,938,897,916 As of Financial assets at fair value through profit or loss 185,435,750 892,565,280 299,855,685 1,377,856,715 Stock loan 878,483,400 — — 878,483,400 1,063,919,150 892,565,280 299,855,685 2,256,340,115 Derivative financial asset — — 1,023,902,566 1,023,902,566 1,063,919,150 892,565,280 1,323,758,251 3,280,242,681
Disclosure of Fair Value Measurement of Liabilities Explanatory	Liability measured at fair value Fair value measurement using Quoted prices (Level 1) Significant (Level 2) Significant (Level 3) Total HK$ HK$ HK$ HK$ As of Derivative financial liability — — 20,813,810 20,813,810 As of Derivative financial liability — — 12,594,313 12,594,313
Schedule of detailed information about in fair value measurement level 3	The movements in fair value measurements within Level 3 during the years are as follow: For the year ended December 31, 2018 2019 2020 HK$ HK$ HK$ Unlisted equity shares at fair value through profit or loss: At January, 1 15,629,400 281,241,909 322,697,916 Purchase 211,456,214 — — Net fair value changes recognised in profit or loss 54,156,295 41,456,007 (22,842,231 ) At December 31, 281,241,909 322,697,916 299,855,685 For the y December 31, HK$ Warrants at fair value through profit or loss: At January 1, — Issued 15,699,600 Exercised (15,699,600 ) At December 31, — For the year ended December 31, 2019 2020 HK$ HK$ Derivative financial asset (Note 14): At January 1, — 1,165,220,000 Recognition of day 1 profit or loss deferred on inception of contract, renegotiation and extension 472,591,235 (41,782,951 ) Net fair value gains recognised in profit or loss 692,628,765 413,088,277 Gain related to disposed investment — 106,059,881 Partial settlement — (618,682,641 ) At December 31, 1,165,220,000 1,023,902,566 For the year ended 2019 2020 HK$ HK$ Derivative financial liability (Note 24): At January 1, — 20,813,810 Issued 20,813,810 — Net fair value changes recognised in profit or loss — (7,765,148) Exchange alignment — (94,349) At December 31, 20,813,810 12,954,313

Financial Risk Management Obj_2

Financial Risk Management Objectives and Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Financial Risk Management Objective And Policies [Abstract]
Disclosure of financial assets that are either past due or impaired	The amounts presented are gross carrying amounts for financial assets at amortized cost. As of December 31, 2019 12-month ECLs Lifetime ECLs HK$ Stage 1 HK$ Stage 2 Stage 3 Simplified approach Accounts receivable* — — — 346,379,574 346,379,574 Financial assets included in prepayments, deposits and other receivables —Normal** 1,355,013 — — — 1,355,013 —Doubtful** — — — — — Due from immediate holding company —Normal** 2,921,838,772 — — — 2,921,838,772 —Doubtful** — — — — — Other assets —Internal credit risk rating AA 245,502,780 — — — 245,502,780 Cash and bank balances —Internal credit risk rating AA 766,430,471 — — — 766,430,471 3,935,127,036 — — 346,379,574 4,281,506,610 * For accounts receivable to which the Group applies the simplified approach for impairment, information based on the provision matrix is disclosed in Note 11 to the consolidated financial statements. ** The credit quality of the financial assets included in prepayments, deposits and other receivables, due from a related company and due from immediate holding company is considered to be “normal” when they are not past due and there is no information indicating that the financial assets had a significant increase in credit risk since initial recognition; “doubtful” when there has been significant increase in credit risk since initial recognition through information developed internally or externally; “loss” when there is evidence indicating the asset is credit-impaired; and “write-off” when there is evidence indicating that the debtor is in severe financial difficulty and Group has no realistic prospect of recovery. As of 31, 2020 12-month ECLs Lifetime ECLs HK$ Stage 1 HK$ Stage 2 Stage 3 Simplified approach Accounts receivable* 21,165,253 — — 56,184,997 77,350,250 Financial assets included in prepayments, deposits and other receivables —Normal** 1,650,827 — — — 1,650,827 —Doubtful** — — — — — Due from immediate holding company —Normal** 6,477,266,499 — — — 6,477,266,499 —Doubtful** — — — — — Other assets —Internal credit risk rating AA 197,309,175 — — — 197,309,175 Cash and bank balances —Internal credit risk rating AA 453,966,764 — — — 453,966,764 7,151,358,518 — — 56,184,997 7,207,543,515 * For accounts receivable to which the Group applies the simplified approach for impairment, information based on the provision matrix is disclosed in Note 11 to the consolidated financial statements. ** The credit quality of the financial assets included in prepayments, deposits and other receivables, due from a related company and due from immediate holding company is considered to be “normal” when they are not past due and there is no information indicating that the financial assets had a significant increase in credit risk since initial recognition; “doubtful” when there has been significant increase in credit risk since initial recognition through information developed internally or externally; “loss” when there is evidence indicating the asset is credit-impaired; and “write-off” when there is evidence indicating that the debtor is in severe financial difficulty and Group has no realistic prospect of recovery.
Disclosure of maturity analysis for non-derivative financial liabilities	The following tables detail the Group’s remaining contractual maturity for its financial liabilities. The tables have been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Group can be required to pay. As of Weighted On demand 3 months to 1 year 1 to 5 years Total % HK$ HK$ HK$ HK$ Accounts payable N/A 492,039,336 — — 492,039,336 Margin loans payable 6.625 % 317,722,438 — — 317,722,438 Financial liabilities included in other payables and accruals N/A 66,043,431 — — 66,043,431 Convertible bond 7.8 % — — 125,273,321 125,273,321 875,805,205 — 125,273,321 1,001,078,526 As of Weighted On demand 3 months to 1 year 1 to 5 years Total % HK$ HK$ HK$ HK$ Accounts payable N/A 201,986,202 — — 201,986,202 Bank borrowings 2.1 % 233,493,790 — — 233,493,790 Financial liabilities included in other payables and accruals N/A 54,136,011 — — 54,136,011 Convertible bond 7.8 % — — 124,606,940 124,606,940 489,616,003 — 124,606,940 614,222,943

Corporate Information - Summary

Corporate Information - Summary of information about company principal subsidiaries (Detail)		12 Months Ended
		Dec. 31, 2020HKD ($)	Dec. 31, 2019	Dec. 31, 2020SGD ($)	Dec. 31, 2020USD ($)
AMTD International Holding Group Limited (formerly known as AMTD Financial Planning Limited) ("AMTD IHG") [member]
Disclosure of subsidiaries [line items]
Place of incorporation		HK
Issued and registered share capital		$ 500,000
Proportion Of Ownership Interest In Subsidiary Direct		100.00%	100.00%
Principal activities		Investment holding
AMTD Securities Limited [member]
Disclosure of subsidiaries [line items]
Place of incorporation		HK
Issued and registered share capital		$ 1
Proportion of Ownership Interest In Subsidiaries Indirect		100.00%	100.00%
Principal activities		Investment holding
AMTD Global Markets Limited (formerly known as AMTD Asset Management Limited) ("AMTD GM") [member]
Disclosure of subsidiaries [line items]
Place of incorporation		HK
Issued and registered share capital		$ 1,561,610,980
Proportion of Ownership Interest In Subsidiaries Indirect		100.00%	100.00%
Principal activities		Provision of investment banking, financial advisory services and asset management services
AMTD Global Markets Pte Ltd [Member]
Disclosure of subsidiaries [line items]
Place of incorporation		Singapore
Issued and registered share capital				$ 5,000,000
Proportion of Ownership Interest In Subsidiaries Indirect		100.00%
Principal activities		Provision of investment banking and financial advisory services
Asia Alternative Asset Partners Limited ("AMTD AAAPL") [member]
Disclosure of subsidiaries [line items]
Place of incorporation		HK
Issued and registered share capital		$ 5,000,000
Proportion of Ownership Interest In Subsidiaries Indirect		100.00%	100.00%
Principal activities		Provision of investment advisory services
AMTD Strategic Investment Limited ("AMTD SI") [member]
Disclosure of subsidiaries [line items]
Place of incorporation		HK
Issued and registered share capital		$ 1
Proportion of Ownership Interest In Subsidiaries Indirect		100.00%	100.00%
Principal activities		Strategic investment
AMTD Investment Solutions Group Limited ("AMTD ISG") [member]
Disclosure of subsidiaries [line items]
Place of incorporation		HK
Issued and registered share capital		$ 1
Proportion of Ownership Interest In Subsidiaries Indirect		100.00%	100.00%
Principal activities		Strategic investment
AMTD Overseas Limited (formerly known as AMTD Europe Holdings Limited) ("AMTD Overseas") [member]
Disclosure of subsidiaries [line items]
Place of incorporation		HK
Issued and registered share capital		$ 1
Proportion of Ownership Interest In Subsidiaries Indirect		100.00%	100.00%
Principal activities		Strategic investment
AMTD Fintech Investment Limited ("AMTD FI") [member]
Disclosure of subsidiaries [line items]
Place of incorporation		HK
Issued and registered share capital		$ 1
Proportion of Ownership Interest In Subsidiaries Indirect		100.00%	100.00%
Principal activities		Strategic investment
AMTD Investment Inc. ("AMTD Investment") [member]
Disclosure of subsidiaries [line items]
Place of incorporation		Cayman Islands
Issued and registered share capital					$ 1
Proportion Of Ownership Interest In Subsidiary Direct		100.00%	100.00%
Principal activities		Investment holding
AMTD Strategic Investment (BVI) Limited [member]
Disclosure of subsidiaries [line items]
Place of incorporation		BVI
Issued and registered share capital					1
Proportion of Ownership Interest In Subsidiaries Indirect		100.00%	100.00%
Principal activities		Investment holding
AMTD Investment Solutions Group (BVI) Limited [member]
Disclosure of subsidiaries [line items]
Place of incorporation		BVI
Issued and registered share capital					1
Proportion of Ownership Interest In Subsidiaries Indirect		100.00%	100.00%
Principal activities		Investment holding
AMTD Overseas (BVI) Limited [member]
Disclosure of subsidiaries [line items]
Place of incorporation		BVI
Issued and registered share capital					1
Proportion of Ownership Interest In Subsidiaries Indirect		100.00%	100.00%
Principal activities		Investment holding
AMTD Fintech Investment (BVI) Limited [member]
Disclosure of subsidiaries [line items]
Place of incorporation		BVI
Issued and registered share capital					1
Proportion of Ownership Interest In Subsidiaries Indirect		100.00%	100.00%
Principal activities		Investment holding
AMTD Capital Co., Ltd. [Member]
Disclosure of subsidiaries [line items]
Place of incorporation	[1]	People’s Republic of China
Issued and registered share capital	[1]				$ 2,000,000
Proportion of Ownership Interest In Subsidiaries Indirect	[1]	100.00%
Principal activities	[1]	Private fund management
[1]	The translation are for identification purpose only

Corporate Information - Summa_2

Corporate Information - Summary of Reorganization - Additional Information (Detail)	Mar. 14, 2019Subsidiaries	Apr. 01, 2019shares	Mar. 18, 2019shares
AMTD Group And Transferred Entities [Member]
Disclosure of subsidiaries [line items]
Percentage of equity transferred			100.00%
AMTD Group And Transferred Entities [Member] | Class B Ordinary Shares [Member]
Disclosure of subsidiaries [line items]
Newly issued Shares			199,990,000
AMTD ISG [Member] | Class B Ordinary Shares [Member]
Disclosure of subsidiaries [line items]
Newly issued Shares			199,990,000
AMTD IHG [Member]
Disclosure of subsidiaries [line items]
Percentage of equity transferred		100.00%
AMTD IHG [Member] | Class B Ordinary Shares [Member]
Disclosure of subsidiaries [line items]
Newly issued Shares		1
VIRGIN ISLANDS, BRITISH [member]
Disclosure of subsidiaries [line items]
Number of subsidiaries incorporated | Subsidiaries	4

Basis of Presentation - Summary

Basis of Presentation - Summary of annual rates for depreciation of property plant and equipment (Detail)	12 Months Ended
	Dec. 31, 2020
Furniture and fixtures [member]
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation rate, property, plant and equipment	20.00%
Computer equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Depreciation rate, property, plant and equipment	33.33%

Significant Accounting Estima_2

Significant Accounting Estimates and Judgments - Additional Information (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting judgements and estimates [Abstract]
Deferred tax expense (income) recognised in profit or loss	$ 242,913,577	$ (79,556,400)	$ (33,148,500)

Operating Segment Information -

Operating Segment Information - Schedule Of Operating Segments (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of operating segments [line items]
Revenue from contracts with customers	$ 607,263,125	$ 580,006,276	$ 367,538,115
Revenue	1,118,540,173	1,204,174,011	723,226,134
Unallocated other income	111,867,468	22,090,268	15,392,775
Unallocated finance costs	(21,510,079)	(27,705,955)	(9,047,063)
Unallocated net changes in fair value on derivative financial liability	7,765,148
PROFIT BEFORE TAX	1,001,420,217	989,253,972	608,965,226
Depreciation	30,374	113,919	334,841
Operating segments [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	1,118,540,173	1,204,174,011	723,398,943
Intersegment			(172,809)
Revenue			723,226,134
Gross profit	1,076,548,268	1,146,704,114	662,594,035
Unallocated amounts [member]
Disclosure of operating segments [line items]
Unallocated other income	111,867,468	22,088,780	15,372,350
Unallocated finance costs	(21,510,079)	(27,705,955)	(3,666,040)
Unallocated net changes in fair value on derivative financial liability	7,765,148
Corporate and other unallocated expenses	(173,250,588)	(151,832,967)	(65,335,119)
Intersegment [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers			172,809
External Customer [member] | Operating segments [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	607,263,125	580,006,276	367,538,115
Other Customer [member] | Operating segments [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	511,277,048	624,167,735	355,688,019
Investment Banking [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	376,324,880	455,955,912	288,591,129
Revenue	376,324,880	455,955,912	288,591,129
Investment Banking [member] | Operating segments [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	376,324,880	455,955,912	288,591,129
Gross profit	339,933,098	413,354,182	254,901,096
Investment Banking [member] | External Customer [member] | Operating segments [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	376,324,880	455,955,912	288,591,129
Investment Banking [member] | Other Customer [member] | Operating segments [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	0	0
Asset Management [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	230,938,245	124,050,364	78,946,986
Revenue	230,938,245	124,050,364	78,946,986
Asset Management [member] | Operating segments [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	230,938,245	124,050,364	79,119,795
Gross profit	225,338,122	109,182,198	57,385,943
Asset Management [member] | Intersegment [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers			172,809
Asset Management [member] | External Customer [member] | Operating segments [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	230,938,245	124,050,364	78,946,986
Strategic Investment
Disclosure of operating segments [line items]
Revenue	511,277,048	624,167,735	355,688,019
Strategic Investment | Operating segments [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	511,277,048	624,167,735	355,688,019
Gross profit	511,277,048	624,167,734	350,306,996
Strategic Investment | External Customer [member] | Operating segments [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	0	0
Strategic Investment | Other Customer [member] | Operating segments [member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	511,277,048	624,167,735	355,688,019
Other Segments [Member]
Disclosure of operating segments [line items]
Depreciation	30,374	113,919	334,841
Capital expenditure	$ 110,734	$ 13,710	$ 14,214

Operating Segment Information_2

Operating Segment Information - Schedule of segment assets and liabilities (Detail) - HKD ($)	Dec. 31, 2020	Dec. 31, 2019
Disclosure of operating segments [line items]
Segment assets	$ 10,526,290,287	$ 8,270,692,652
Segment liabilities	802,114,692	1,442,197,708
Operating segments [member]
Disclosure of operating segments [line items]
Segment assets	3,567,671,602	3,498,744,273
Segment liabilities	249,257,201	809,761,776
Operating segments [member] | Investment Banking [member]
Disclosure of operating segments [line items]
Segment assets	21,976,920	64,813,018
Operating segments [member] | Asset Management [member]
Disclosure of operating segments [line items]
Segment assets	265,452,001	539,713,339
Segment liabilities	249,257,201	492,039,337
Operating segments [member] | Strategic Investment [member]
Disclosure of operating segments [line items]
Segment assets	3,280,242,681	2,894,217,916
Segment liabilities	0	317,722,439
Unallocated amounts [member]
Disclosure of operating segments [line items]
Segment assets	6,958,618,685	4,771,948,379
Segment liabilities	$ 552,857,491	$ 632,435,932

Operating Segment Information_3

Operating Segment Information - Schedule of group's revenue from external customers by geographical areas (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of geographical areas [line items]
Revenue from contracts with customers	$ 607,263,125	$ 580,006,276	$ 367,538,115
Investment Banking [Member]
Disclosure of geographical areas [line items]
Revenue from contracts with customers	376,324,880	455,955,912	288,591,129
Asset Management [Member]
Disclosure of geographical areas [line items]
Revenue from contracts with customers	230,938,245	124,050,364	78,946,986
HK [Member]
Disclosure of geographical areas [line items]
Revenue from contracts with customers	234,603,029	139,527,942	168,331,673
HK [Member] | Investment Banking [Member]
Disclosure of geographical areas [line items]
Revenue from contracts with customers	212,766,711	118,086,900	128,880,466
HK [Member] | Asset Management [Member]
Disclosure of geographical areas [line items]
Revenue from contracts with customers	21,836,318	21,441,042	39,451,207
CN [Member]
Disclosure of geographical areas [line items]
Revenue from contracts with customers	355,838,954	392,875,758	195,396,116
CN [Member] | Investment Banking [Member]
Disclosure of geographical areas [line items]
Revenue from contracts with customers	163,447,101	300,078,498	158,780,244
CN [Member] | Asset Management [Member]
Disclosure of geographical areas [line items]
Revenue from contracts with customers	192,391,853	92,797,260	36,615,872
US [Member]
Disclosure of geographical areas [line items]
Revenue from contracts with customers		33,572,127
US [Member] | Investment Banking [Member]
Disclosure of geographical areas [line items]
Revenue from contracts with customers		30,342,514
US [Member] | Asset Management [Member]
Disclosure of geographical areas [line items]
Revenue from contracts with customers		3,229,613
Other Countries [Member]
Disclosure of geographical areas [line items]
Revenue from contracts with customers	16,821,142	14,030,449	3,810,326
Other Countries [Member] | Investment Banking [Member]
Disclosure of geographical areas [line items]
Revenue from contracts with customers	111,068	7,448,000	930,419
Other Countries [Member] | Asset Management [Member]
Disclosure of geographical areas [line items]
Revenue from contracts with customers	$ 16,710,074	$ 6,582,449	$ 2,879,907

Revenue and Other Income - Sche

Revenue and Other Income - Schedule of analysis of revenue (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Analysis Of Revenue [Line Items]
Revenue from external customers and others	$ 607,263,125	$ 580,006,276	$ 367,538,115
Dividend income	88,078,159	92,316,548	99,227,724
Gain related to disposed investment	82,948,508	8,235,180
Dividend and gain related to disposed investment	171,026,667	100,551,728	99,227,724
Total net fair value changes on financial assets at fair value through profit or loss and stock loan	(31,054,945)	(641,603,993)	256,460,295
Net fair value changes on derivative financial asset -from derivative financial asset	371,305,326	1,165,220,000
Total revenue	1,118,540,173	1,204,174,011	723,226,134
Management Fee and Performance Based Incentive Fee [member]
Disclosure Of Analysis Of Revenue [Line Items]
Revenue from external customers and others	196,352,216	103,509,196	43,465,186
Brokerage And Handling Fees [member]
Disclosure Of Analysis Of Revenue [Line Items]
Revenue from external customers and others	33,359,007	19,383,099	31,393,570
Others [member]
Disclosure Of Analysis Of Revenue [Line Items]
Revenue from external customers and others	1,227,022	1,158,069	4,088,230
Listed Equity Shares [member]
Disclosure Of Analysis Of Revenue [Line Items]
Total net fair value changes on financial assets at fair value through profit or loss and stock loan	(371,305,326)	(683,060,000)	202,304,000
Unlisted Debt Securities [member]
Disclosure Of Analysis Of Revenue [Line Items]
Total net fair value changes on financial assets at fair value through profit or loss and stock loan			86,000
Unlisted Equity Shares [member]
Disclosure Of Analysis Of Revenue [Line Items]
Total net fair value changes on financial assets at fair value through profit or loss and stock loan	313,561,520	41,456,007	54,070,295
Unlisted Equity Linked Notes [member]
Disclosure Of Analysis Of Revenue [Line Items]
Total net fair value changes on financial assets at fair value through profit or loss and stock loan	26,688,861
Derivative financial Asset [member]
Disclosure Of Analysis Of Revenue [Line Items]
Net fair value changes on derivative financial asset -from derivative financial asset	511,277,048	624,167,735	355,688,019
Investment Banking [member]
Disclosure Of Analysis Of Revenue [Line Items]
Revenue from external customers and others	376,324,880	455,955,912	288,591,129
Total revenue	376,324,880	455,955,912	288,591,129
Investment Banking [member] | Investment banking fee and income [member]
Disclosure Of Analysis Of Revenue [Line Items]
Revenue from external customers and others	376,324,880	455,955,912	288,591,129
Asset Management [member]
Disclosure Of Analysis Of Revenue [Line Items]
Revenue from external customers and others	230,938,245	124,050,364	78,946,986
Total revenue	230,938,245	124,050,364	78,946,986
Asset Management [member] | Management Fee and Performance Based Incentive Fee [member]
Disclosure Of Analysis Of Revenue [Line Items]
Revenue from external customers and others	196,352,216	103,509,196	43,465,186
Asset Management [member] | Brokerage And Handling Fees [member]
Disclosure Of Analysis Of Revenue [Line Items]
Revenue from external customers and others	33,359,007	19,383,099	31,393,570
Asset Management [member] | Others [member]
Disclosure Of Analysis Of Revenue [Line Items]
Revenue from external customers and others	1,227,022	1,158,069	4,088,230
Strategic Investment [member]
Disclosure Of Analysis Of Revenue [Line Items]
Dividend income	88,078,159	92,316,548	99,227,724
Gain related to disposed investment	82,948,508	8,235,180
Total revenue	$ 511,277,048	$ 624,167,735	$ 355,688,019

Revenue and Other Income - Sc_2

Revenue and Other Income - Schedule revenue from contracts with customers (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from external customers and others	$ 607,263,125	$ 580,006,276	$ 367,538,115
Net fair value changes on financial assets at fair value through profit or loss and stock loan	(31,054,945)	(641,603,993)	256,460,295
Net fair value changes on derivative financial instrument	371,305,326	1,165,220,000
Gain related to disposed investment	82,948,508	8,235,180
Dividend income	88,078,159	92,316,548	99,227,724
Total revenue	1,118,540,173	1,204,174,011	723,226,134
Underwriting Commission And Brokerage Fee [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from external customers and others	165,472,605	403,573,912	217,002,789
Financial Advisory Fee [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from external customers and others	210,852,275	52,382,000	71,588,340
Management Fee And Performance Based Incentive Fee [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from external customers and others	196,352,216	103,509,196	43,465,186
Brokerage And Handling Fees [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from external customers and others	33,359,007	19,383,099	31,393,570
Others [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from external customers and others	1,227,022	1,158,069	4,088,230
Investment Banking [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from external customers and others	376,324,880	455,955,912	288,591,129
Total revenue	376,324,880	455,955,912	288,591,129
Investment Banking [member] | Underwriting Commission And Brokerage Fee [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from external customers and others	165,472,605	403,573,912	217,002,789
Investment Banking [member] | Financial Advisory Fee [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from external customers and others	210,852,275	52,382,000	71,588,340
Asset Management [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from external customers and others	230,938,245	124,050,364	78,946,986
Total revenue	230,938,245	124,050,364	78,946,986
Asset Management [member] | Management Fee And Performance Based Incentive Fee [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from external customers and others	196,352,216	103,509,196	43,465,186
Asset Management [member] | Brokerage And Handling Fees [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from external customers and others	33,359,007	19,383,099	31,393,570
Asset Management [member] | Others [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from external customers and others	1,227,022	1,158,069	4,088,230
Strategic Investment [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Net fair value changes on financial assets at fair value through profit or loss and stock loan	(31,054,945)	(641,603,993)	256,460,295
Net fair value changes on derivative financial instrument	371,305,326	1,165,220,000
Gain related to disposed investment	82,948,508	8,235,180
Dividend income	88,078,159	92,316,548	99,227,724
Total revenue	$ 511,277,048	$ 624,167,735	$ 355,688,019

Revenue and Other Income - Summ

Revenue and Other Income - Summary of timing of revenue recognition (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Timing Of Revenue Recognition [Line Items]
Revenue from contracts with customers	$ 607,263,125	$ 580,006,276	$ 367,538,115
Investment Banking [member]
Disclosure Of Timing Of Revenue Recognition [Line Items]
Revenue from contracts with customers	376,324,880	455,955,912	288,591,129
Asset Management [member]
Disclosure Of Timing Of Revenue Recognition [Line Items]
Revenue from contracts with customers	230,938,245	124,050,364	78,946,986
Services transferred at a point in time
Disclosure Of Timing Of Revenue Recognition [Line Items]
Revenue from contracts with customers	200,058,634	424,115,080	252,484,589
Services transferred at a point in time | Investment Banking [member]
Disclosure Of Timing Of Revenue Recognition [Line Items]
Revenue from contracts with customers	165,472,605	403,573,912	217,002,789
Services transferred at a point in time | Asset Management [member]
Disclosure Of Timing Of Revenue Recognition [Line Items]
Revenue from contracts with customers	34,586,029	20,541,168	35,481,800
Services transferred over time
Disclosure Of Timing Of Revenue Recognition [Line Items]
Revenue from contracts with customers	407,204,491	155,891,196	115,053,526
Services transferred over time | Investment Banking [member]
Disclosure Of Timing Of Revenue Recognition [Line Items]
Revenue from contracts with customers	210,852,275	52,382,000	71,588,340
Services transferred over time | Asset Management [member]
Disclosure Of Timing Of Revenue Recognition [Line Items]
Revenue from contracts with customers	$ 196,352,216	$ 103,509,196	$ 43,465,186

Revenue and Other Income - Disc

Revenue and Other Income - Disclosure of Revenue Recognition from Performance Obligation (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of disaggregation of revenue from contracts with customers [abstract]
Asset management	$ 94,328,532	$ 39,296,815

Revenue and Other Income - Sc_3

Revenue and Other Income - Schedule of other income (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Other Operating Income [Line Items]
Bank interest income	$ 67,783	$ 1,115,839	$ 7,681
Interest income from the immediate holding company (Note 28(a)(iv)) (Note 28(b)(i))	101,159,079	17,562,104
Other income from a fellow subsidiary (Note 26(b)(iv))			3,666,040
Government grants	3,061,665
Others	7,578,941	3,412,325	11,719,054
Total other income	$ 111,867,468	$ 22,090,268	$ 15,392,775

Revenue and Other Income - Addi

Revenue and Other Income - Additional Information (Detail)	Dec. 31, 2020HKD ($)
Disclosure of disaggregation of revenue from contracts with customers [abstract]
Government grants	$ 3,061,665

Operating Expenses - Schedule o

Operating Expenses - Schedule of operating expenses and foreign exchange differences included in the consolidated statement of profit or loss and other comprehensive income (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other operating expenses
Marketing and brand promotional expenses	$ 5,696,606	$ 12,903,989	$ 11,864,097
Premises costs and office utilities
Premises costs	14,244,127	11,965,344	9,465,094
Office utilities	6,601,790	9,152,802	6,117,640
Premises costs and office utilities	20,845,917	21,118,146	15,582,734
Traveling and business development expenses	5,636,354	19,362,587	10,860,318
Commissions and bank charges	1,957,433	2,307,050	5,197,984
Office and maintenance expenses	175,348	1,430,834	1,603,484
Administrative service fee (Note 26(a)(iii))	24,330,000	12,000,000
Legal and professional fees
Auditor's remuneration	12,068,575	11,402,267	789,000
Other legal and professional fees	12,434,767	11,776,501	1,650,070
Professional indemnity expense	11,811,165
Legal and professional fees	36,314,507	23,178,768	2,439,070
Staff welfare and staff recruitment expenses	1,223,673	2,471,705	3,659,523
Staff welfare and staff recruitment expenses
Depreciation	30,374	113,919	334,841
Foreign exchange differences, net	3,222,789	12,596,647	382,757
Other expenses	4,290,210	7,213,210	657,299
Other expenses, by nature	7,543,373	19,923,776	1,374,897
Operating expenses	$ 103,723,211	$ 114,696,855	$ 52,582,107

Staff Costs - Schedule of staff

Staff Costs - Schedule of staff costs (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Classes of employee benefits expense [abstract]
Salaries and Bonuses	$ 93,660,617	$ 93,703,848	$ 67,187,493
Pension scheme contributions (defined contribution schemes)	749,664	903,649	837,020
Employee benefits expense	$ 94,410,281	$ 94,607,497	$ 68,024,513

Finance Costs - Schedule of fin

Finance Costs - Schedule of finance costs (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finance Costs [Abstract]
Interests on margin loans payable	$ 12,475,296	$ 27,705,955	$ 9,047,063
Interests on convertible bond	7,717,348
Interests on bank borrowings	1,317,435
Total Finance costs	$ 21,510,079	$ 27,705,955	$ 9,047,063

Income Tax Expense_(Credit) - C

Income Tax Expense/(Credit) - Components of Income Tax Benefits/(Expenses) (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Hong Kong profits tax
Charge for the year	$ 96,708,600	$ 69,585,469	$ 43,127,820
Overprovision in prior year	(143,606)	0	(2,359,495)
Deferred tax	(242,913,577)	79,556,400	33,148,500
The People's Republic of China withholding tax charge for the year	8,807,816	9,207,649	9,922,772
Income tax expense/(credit)	$ (137,540,767)	$ 158,349,518	$ 83,839,597

Income Tax Expense_(Credit) - A

Income Tax Expense/(Credit) - Additional Information (Detail) - HK [Member]	Mar. 28, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax [Line Items]
Applicable tax rate	16.50%	16.50%	16.50%	16.50%
Tax Rate Applicable on Profit of First Two Million Hong Kong Dollars [Member]
Income Tax [Line Items]
Applicable tax rate		8.25%
Tax Rate Applicable on Profit of First Two Million Hong Kong Dollars [Member] | Intoduction Of Two Tiered Profits Tax Rates Regime [Member]
Income Tax [Line Items]
Applicable tax rate	8.25%
Tax Rate Applicable on Profit of Above Two Million Hong Kong Dollars [Member]
Income Tax [Line Items]
Applicable tax rate		16.50%
Tax Rate Applicable on Profit of Above Two Million Hong Kong Dollars [Member] | Intoduction Of Two Tiered Profits Tax Rates Regime [Member]
Income Tax [Line Items]
Applicable tax rate	16.50%

Income Tax Expense_(Credit) - R

Income Tax Expense/(Credit) - Reconciliation of income tax expenses and profit before tax at statutory tax rate (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Major components of tax expense (income) [abstract]
Profit before tax	$ 1,001,420,217	$ 989,253,972	$ 608,965,226
Tax at statutory tax rate of 16.5%	165,234,336	163,226,906	100,479,262
Tax effect of two-tiered profit tax rate	(165,000)	0	0
Tax effect of non-taxable income	(79,190,106)	(23,255,305)	(25,554,680)
Tax effect of non-deductible expenses	10,887,971	8,952,076	1,355,050
Tax effect of unrecognized temporary difference	(25,011)	223,434	16,553
Reversal of deferred tax liability	(242,913,577)	0	0
Tax effect of tax loss not recognised	0	24,541	10,797
Overprovision in prior year	(143,606)	0	(2,359,495)
Utilization of tax losses previously not recognised	(33,590)	(29,783)	(30,662)
Withholding tax on the dividend income	8,807,816	9,207,649	9,922,772
Income tax expense/(credit)	$ (137,540,767)	$ 158,349,518	$ 83,839,597

Income Tax Expense_(Credit) -_2

Income Tax Expense/(Credit) - Reconciliation of income tax expenses and profit before tax at statutory tax rate (Parenthetical) (Detail)	Mar. 28, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
HK [Member]
Reconciliation Of Income Tax Expenses And Profit Before Tax At Statutory Tax Rate [Line Items]
Applicable tax rate	16.50%	16.50%	16.50%	16.50%

Earnings Per Share Attributab_3

Earnings Per Share Attributable To Ordinary Equity Holders of The Parent - Summary of Basic and diluted earnings per share (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator:
Profit attributable to ordinary equity holders of the parent used in the basic earnings per share	$ 1,059,973,270	$ 938,272,885	$ 468,061,079
Class A ordinary shares [Member]
Numerator:
Profit attributable to ordinary equity holders of the parent used in the basic earnings per share	$ 249,206,548	$ 69,906,757
Denominator:
Weighted average number of shares outstanding—basic	57,474,495	16,112,737	0
Basic earnings per share	$ 4.34	$ 4.34
Numerator:
Profit attributable to ordinary equity holders of the parent used in the diluted earnings per share	$ 248,629,790	$ 69,906,757
Denominator:
Weighted average number of ordinary shares outstanding—diluted	58,966,142	16,117,254	0
Diluted earnings per share	$ 4.22	$ 4.34
Class B ordinary shares [Member]
Numerator:
Profit attributable to ordinary equity holders of the parent used in the basic earnings per share	$ 810,766,722	$ 868,366,128	$ 468,061,079
Denominator:
Weighted average number of shares outstanding—basic	186,987,093	200,148,822	200,000,001
Basic earnings per share	$ 4.34	$ 4.34	$ 2.34
Numerator:
Profit attributable to ordinary equity holders of the parent used in the diluted earnings per share	$ 810,766,722	$ 868,366,128	$ 468,061,079
Denominator:
Weighted average number of ordinary shares outstanding—diluted	186,987,093	200,204,936	200,000,001
Diluted earnings per share	$ 4.34	$ 4.34	$ 2.34

Earnings Per Share Attributab_4

Earnings Per Share Attributable To Ordinary Equity Holders of The Parent - Summary of weighted average shares (Detail) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class A Ordinary Shares [Member]
Shares:
Weighted average number of ordinary shares	57,474,495	16,112,737	0
Total shares	58,966,142	16,117,254	0
Class A Ordinary Shares [Member] | Warrants [member]
Shares:
Effect of dilution – weighted average number of ordinary shares	0	864	0
Class A Ordinary Shares [Member] | Convertible Bond [member]
Shares:
Effect of dilution – weighted average number of ordinary shares	1,491,647	3,653
Class B Ordinary Shares [Member]
Shares:
Weighted average number of ordinary shares	186,987,093	200,148,822	200,000,001
Total shares	186,987,093	200,204,936	200,000,001
Class B Ordinary Shares [Member] | Warrants [member]
Shares:
Effect of dilution – weighted average number of ordinary shares	0	10,728	0
Class B Ordinary Shares [Member] | Convertible Bond [member]
Shares:
Effect of dilution – weighted average number of ordinary shares	0	45,386

Earnings Per Share Attributab_5

Earnings Per Share Attributable To Ordinary Equity Holders of The Parent - Additional information (Detail)	12 Months Ended
	Dec. 31, 2020HKD ($)
Earnings per share [line items]
Increase Decrease Through The Adjustment Effect Of Interest On The Convertible Bond	$ 7,717,348
Increase (decrease) in credit derivative, fair value	7,765,148
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities	$ 528,958

Accounts Receivable - Summary o

Accounts Receivable - Summary of trade receivables (Detail) - HKD ($)	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Trade Receivables [Line Items]
Accounts receivable	$ 77,350,250	$ 346,379,574
Receivable from investment banking services [Member]
Disclosure Of Trade Receivables [Line Items]
Accounts receivable	21,976,920	66,740,188
Receivable from brokers and clearing house [Member]
Disclosure Of Trade Receivables [Line Items]
Accounts receivable	19,864,662	261,329,847
Clients' receivables [Member]
Disclosure Of Trade Receivables [Line Items]
Accounts receivable	$ 35,508,668	$ 18,309,539

Accounts Receivable - Summary_2

Accounts Receivable - Summary of aging analysis of accounts receivable (Detail) - HKD ($)	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Aging Anaylsis Of Accounts Receivable [Line Items]
Accounts receivable	$ 77,350,250	$ 346,379,574
Current [member]
Disclosure Of Aging Anaylsis Of Accounts Receivable [Line Items]
Accounts receivable	67,241,210	294,541,514
Within 1 month [member]
Disclosure Of Aging Anaylsis Of Accounts Receivable [Line Items]
Accounts receivable	7,797,011	41,032,006
1 to 3 months [member]
Disclosure Of Aging Anaylsis Of Accounts Receivable [Line Items]
Accounts receivable	221,183	5,232,320
Over 3 months [member]
Disclosure Of Aging Anaylsis Of Accounts Receivable [Line Items]
Accounts receivable	$ 2,090,846	$ 5,573,734

Accounts Receivable - Summary_3

Accounts Receivable - Summary of trade receivable past due analysis (Detail) - HKD ($)	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Trade Receivable Past Due Analysis [Line Items]
Gross carrying amount	$ 77,350,250	$ 346,379,574
Credit Grade AA [Member]
Disclosure Of Trade Receivable Past Due Analysis [Line Items]
Expected credit loss rate.		0.14%
Gross carrying amount		$ 141,440,000
Credit Grade A [Member]
Disclosure Of Trade Receivable Past Due Analysis [Line Items]
Expected credit loss rate.	0.07%	0.17%
Gross carrying amount	$ 21,977,000	$ 64,914,000
Credit Grade BBB [Member]
Disclosure Of Trade Receivable Past Due Analysis [Line Items]
Expected credit loss rate.	0.05%	0.33%
Gross carrying amount	$ 52,723,000	$ 136,928,000
Credit Grade BB [Member]
Disclosure Of Trade Receivable Past Due Analysis [Line Items]
Expected credit loss rate.		0.59%
Gross carrying amount		$ 1,826,000
Credit Grade CCC [Member]
Disclosure Of Trade Receivable Past Due Analysis [Line Items]
Expected credit loss rate.	0.56%	18.24%
Gross carrying amount	$ 2,650,000	$ 1,272,000

Accounts Receivable - Additiona

Accounts Receivable - Additional information (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
DisclosureOfTradeReceivables [Line Items]
Loss allowance for accounts receivable	$ 0	$ 0		$ 0
Trade and other current receivables due from related parties		$ 2,142,145
Estimated loss on default percent	45.00%	45.00%
Impairment losses under expected credit loss model on accounts receivable	$ 17,109,001
Current trade receivables	$ 77,350,250	$ 346,379,574
Bottom of range [member]
DisclosureOfTradeReceivables [Line Items]
Probability of default	0.11%	0.14%
Top of range [member]
DisclosureOfTradeReceivables [Line Items]
Probability of default	30.91%	18.24%
Investment Banking [member]
DisclosureOfTradeReceivables [Line Items]
Receivables from contracts with customers			$ 134,855,895
Asset Management Service [Member]
DisclosureOfTradeReceivables [Line Items]
Receivables from contracts with customers			$ 5,512,422
Asset Management Service [Member] | Non Interest Bearing [Member]
DisclosureOfTradeReceivables [Line Items]
Current trade receivables	$ 34,208,077	$ 9,428,553
Fellow Subsidaries [Member]
DisclosureOfTradeReceivables [Line Items]
Trade and other current receivables due from related parties	2,142,145	2,142,145
Fellow Subsidaries And Immediate Holding Company [Member]
DisclosureOfTradeReceivables [Line Items]
Loss allowance for accounts receivable	$ 0	$ 0

Prepayments, Deposits And Oth_3

Prepayments, Deposits And Other Receivables - Summary of prepayments, deposits and other receivables (Detail) - HKD ($)	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Detailed Information About Prepayments And Other Assets [Line Items]
Prepayments	$ 23,221,564	$ 35,085,959
Deposits	559,933	451,593
Other receivables	1,090,894	903,420
Prepayments, deposits and other receivables	$ 24,872,391	$ 36,440,972

Prepayments, Deposits And Oth_4

Prepayments, Deposits And Other Receivables - Additional information (Detail)	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Detailed Information About Prepayments And Other Assets [Line Items]
Percentage Of Loss On Default	45.00%	45.00%
Bottom of range [member]
Disclosure Of Detailed Information About Prepayments And Other Assets [Line Items]
Probability Of Default	0.09%	0.09%
Top of range [member]
Disclosure Of Detailed Information About Prepayments And Other Assets [Line Items]
Probability Of Default	0.50%	0.50%

Financial Assets At Fair Valu_3

Financial Assets At Fair Value Through Profit Or Loss And Stock Loan - Summary of financial assets at fair value through profit or loss and stock loan (Detail) - HKD ($)	Dec. 31, 2020	Dec. 31, 2019
Financial assets at fair value through profit or loss and stock loan [Line Items]
Financial assets at fair value through profit or loss	$ 1,377,856,715	$ 1,572,697,716
Stock loan	878,483,400	1,200,980,200
Financial assets	2,256,340,115	2,773,677,916
Listed equity shares, at quoted price [Abstract]
Listed equity shares, at quoted price	1,001,399,213	2,450,980,000
Fair value of investments in unlisted equity shares [Abstract]
Unlisted equity shares	1,192,420,965	322,697,916
Unlisted equity linked notes [Abstract]
Unlisted equity linked note	62,519,937
Financial assets at fair value through profit or loss and stock loan	2,256,340,115	2,773,677,916
Investment A [member]
Listed equity shares, at quoted price [Abstract]
Listed equity shares, at quoted price	1,001,399,213	2,450,980,000
Investment B [member]
Fair value of investments in unlisted equity shares [Abstract]
Unlisted equity shares	85,706,112	77,023,394
Investment C [member]
Fair value of investments in unlisted equity shares [Abstract]
Unlisted equity shares	24,111,436	47,149,360
Investment D [member]
Fair value of investments in unlisted equity shares [Abstract]
Unlisted equity shares	190,038,137	$ 198,525,162
Investment E [member]
Fair value of investments in unlisted equity shares [Abstract]
Unlisted equity shares	892,565,280
Investment F [member]
Unlisted equity linked notes [Abstract]
Unlisted equity linked note	$ 62,519,937

Financial Assets At Fair Valu_4

Financial Assets At Fair Value Through Profit Or Loss And Stock Loan - (Additional Information) (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Financial Assets At Fair Value Through Profit or Loss And Stock Loan [Line Items]
Financial assets pledged as collateral for liabilities or contingent liabilities		$ 1,249,999,800
Gain from disposition of unlisted equity linked note	$ 145,162,859
Investment E [member]
Financial Assets At Fair Value Through Profit or Loss And Stock Loan [Line Items]
Equity Method Investment, Ownership Percentage	19.20%
Extinguishment of Debt, Amount	$ 556,161,528
Listed Equity Shares [member]
Financial Assets At Fair Value Through Profit or Loss And Stock Loan [Line Items]
Unrealized gain on stock loan	324,855,300	334,699,400
Listed Equity Shares [member] | Stock Loan [member]
Financial Assets At Fair Value Through Profit or Loss And Stock Loan [Line Items]
Fair value of listed equity shares	$ 878,483,400	$ 1,200,980,200

Derivative Financial Asset - Ad

Derivative Financial Asset - Additional information (Detail)	Jul. 01, 2019$ / shares	Apr. 01, 2019$ / shares	Dec. 31, 2020HKD ($)	Jun. 26, 2020$ / sharesshares	Dec. 31, 2019HKD ($)
Disclosure of detailed information about financial instruments [line items]
Market value of derivative contracts pledged | $			$ 2,860,797,360		$ 962,442,277
Underlying listed shares
Disclosure of detailed information about financial instruments [line items]
Number of shares of investment, disposed | shares				176,766,469
Number of consideration received from the disposal of investment | shares				618,682,641
Sale of stock per share				$ 5.5
Bottom of range [member]
Disclosure of detailed information about financial instruments [line items]
Percentage of profit eligible based on market price	25.00%
Top of range [member]
Disclosure of detailed information about financial instruments [line items]
Percentage of profit eligible based on market price	40.00%
AMTD Investment Solutions Group And AMTD Strategic Investments [Member]
Disclosure of detailed information about financial instruments [line items]
Number of shares of investment, disposed | shares				176,766,469
Upside Participation And Profit Distribution Amendment Agreement One [Member] | AMTD Investment Solutions Group And AMTD Strategic Investments [Member] | Ariana Capital And Investment [Member]
Disclosure of detailed information about financial instruments [line items]
Percentage of profit eligible based on market price		25.00%
Upside Participation And Profit Distribution Amendment Agreement Two [Member] | Bottom of range [member]
Disclosure of detailed information about financial instruments [line items]
Underlying, derivative instrument	$ 8.1
Upside Participation And Profit Distribution Amendment Agreement Two [Member] | Top of range [member]
Disclosure of detailed information about financial instruments [line items]
Underlying, derivative instrument	$ 9
Upside Participation And Profit Distribution Amendment Agreement Two [Member] | AMTD Investment Solutions Group And AMTD Strategic Investments [Member] | Ariana Capital And Investment [Member]
Disclosure of detailed information about financial instruments [line items]
Underlying, derivative instrument		$ 8.1

Derivative Financial Asset - Su

Derivative Financial Asset - Summary of financial instrument fair value (Detail) - HKD ($)	Apr. 01, 2019	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019
Fair value using valuation technique [member]
Disclosure Of Derivative Financial Instrument Fair Value Change In Profit Or Loss And Other Comprehensive Income [Line Items]
Beginning balance		$ 998,359,116	$ 907,706,089	$ 1,437,300,079	$ 1,147,372,779	$ 809,156,635	$ 577,181,939
Initial transaction on April 1, 2019	$ 355,294,216
Changes in fair value		25,543,450	93,693,124	(13,291,518)	307,143,221	356,063,365	230,436,061	$ 106,129,339
Partial settlement on June 26, 2020				(618,682,641)
Contract renegotiation		12,266,453	(3,040,097)	(3,679,712)	(17,215,921)	(17,847,221)	1,538,635	115,758,384
Ending balance		1,036,169,019	998,359,116	907,706,089	1,437,300,079	1,147,372,779	809,156,635	577,181,939
Gain on disposal of derivative				106,059,881
Fair value using valuation technique [member] | Previously Reported [Member]
Disclosure Of Derivative Financial Instrument Fair Value Change In Profit Or Loss And Other Comprehensive Income [Line Items]
Beginning balance		1,001,399,213	911,385,801	1,454,516,000	1,165,220,000	807,618,000	461,423,555
Ending balance		1,023,902,566	1,001,399,213	911,385,801	1,454,516,000	1,165,220,000	807,618,000	461,423,555
Day 1 profit or loss [member]
Disclosure Of Derivative Financial Instrument Fair Value Change In Profit Or Loss And Other Comprehensive Income [Line Items]
Beginning balance		3,040,097	3,679,712	17,215,921	17,847,221	(1,538,635)	(382,714,420)
Initial transaction on April 1, 2019	$ (355,294,216)
Recognition of day 1 profit or loss		(3,040,097)	(3,679,712)	(17,215,921)	(17,847,221)	1,538,635	382,714,420	88,338,180
Contract renegotiation		(12,266,453)	3,040,097	3,679,712	17,215,921	17,847,221	(1,538,635)	(115,758,384)
Ending balance		(12,266,453)	3,040,097	3,679,712	17,215,921	17,847,221	(1,538,635)	(382,714,420)
Day 1 profit or loss [member] | Previously Reported [Member]
Disclosure Of Derivative Financial Instrument Fair Value Change In Profit Or Loss And Other Comprehensive Income [Line Items]
Beginning balance							(266,956,036)
Ending balance								(266,956,036)
Net carrying amount presented on the statement of financial position [member]
Disclosure Of Derivative Financial Instrument Fair Value Change In Profit Or Loss And Other Comprehensive Income [Line Items]
Beginning balance		1,001,399,213	911,385,801	1,454,516,000	1,165,220,000	807,618,000	194,467,519
Changes in fair value		25,543,450	93,693,124	(13,291,518)	307,143,221	356,063,365	230,436,061	106,129,339
Partial settlement on June 26, 2020				(618,682,641)
Recognition of day 1 profit or loss		(3,040,097)	(3,679,712)	(17,215,921)	(17,847,221)	1,538,635	382,714,420	88,338,180
Ending balance		1,023,902,566	1,001,399,213	911,385,801	1,454,516,000	1,165,220,000	807,618,000	194,467,519
Gain on disposal of derivative				106,059,881
Net carrying amount presented on the statement of financial position [member] | Previously Reported [Member]
Disclosure Of Derivative Financial Instrument Fair Value Change In Profit Or Loss And Other Comprehensive Income [Line Items]
Beginning balance		1,001,399,213	911,385,801	1,454,516,000	1,165,220,000	807,618,000	194,467,519
Ending balance		1,023,902,566	1,001,399,213	911,385,801	1,454,516,000	1,165,220,000	807,618,000	194,467,519
Net fair value change on derivative financial instrument presented on the statement of profit or loss and other comprehensive income [member]
Disclosure Of Derivative Financial Instrument Fair Value Change In Profit Or Loss And Other Comprehensive Income [Line Items]
Beginning balance		348,801,973	258,788,561	289,296,000	0	807,618,000	194,467,519
Changes in fair value		25,543,450	93,693,124	(13,291,518)	307,143,221	356,063,365	230,436,061	106,129,339
Partial settlement on June 26, 2020				0
Recognition of day 1 profit or loss		(3,040,097)	(3,679,712)	(17,215,921)	(17,847,221)	1,538,635	382,714,420	88,338,180
Ending balance		371,305,326	348,801,973	258,788,561	289,296,000	0	807,618,000	194,467,519
Net fair value change on derivative financial instrument presented on the statement of profit or loss and other comprehensive income [member] | Previously Reported [Member]
Disclosure Of Derivative Financial Instrument Fair Value Change In Profit Or Loss And Other Comprehensive Income [Line Items]
Beginning balance		348,801,973	258,788,561	289,296,000	1,165,220,000	807,618,000	194,467,519
Ending balance		$ 371,305,326	$ 348,801,973	$ 258,788,561	$ 289,296,000	$ 1,165,220,000	$ 807,618,000	$ 194,467,519

Other Assets - Summary of detai

Other Assets - Summary of detailed information about other assets (Detail) - HKD ($)	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Detailed Information About Other Assets [Line Items]
Other assets	$ 197,309,175	$ 245,502,780
Asset management business [Member]
Disclosure Of Detailed Information About Other Assets [Line Items]
Other assets	194,907,501	225,439,918
Others [Member]
Disclosure Of Detailed Information About Other Assets [Line Items]
Other assets	$ 2,401,674	$ 20,062,862

Cash and bank balances - Summar

Cash and bank balances - Summary of detailed information about cash and bank balances (Detail) - HKD ($)	Dec. 31, 2020	Dec. 31, 2019
Cash and cash equivalents [abstract]
Cash on hand	$ 31,031	$ 31,031
General bank accounts	453,935,733	766,399,440
Total cash and bank balances	$ 453,966,764	$ 766,430,471

Property, Plant and Equipment -

Property, Plant and Equipment - Summary of detailed information about property plant and equipment (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	$ 30,997
Ending balance	111,357	$ 30,997
Carrying amount	111,357	30,997	$ 131,206
Fixtures and fittings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Carrying amount	376	2,594	4,812
Computer equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Carrying amount	110,981	28,403	$ 126,394
Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	4,084,724	4,071,014
Additions	110,734	13,710
Ending balance	4,195,458	4,084,724
Cost [member] | Fixtures and fittings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	11,090	11,090
Ending balance	11,090	11,090
Cost [member] | Computer equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	4,073,634	4,059,924
Additions	110,734	13,710
Ending balance	4,184,368	4,073,634
Accumulated depreciation [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(4,053,727)	(3,939,808)
Change for the year	30,374	113,919
Ending balance	(4,084,101)	(4,053,727)
Accumulated depreciation [member] | Fixtures and fittings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(8,496)	(6,278)
Change for the year	2,218	2,218
Ending balance	(10,714)	(8,496)
Accumulated depreciation [member] | Computer equipment [member]
Disclosure of detailed information about property, plant and equipment [line items]
Beginning balance	(4,045,231)	(3,933,530)
Change for the year	28,156	111,701
Ending balance	$ (4,073,387)	$ (4,045,231)

Intangible asset - Summary of I

Intangible asset - Summary of Intangible asset (Detail) - HKD ($)	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Intangible assets [Abstract]
Net carrying amount as of December 31, 2019 and December 31, 2020	$ 15,171,170	$ 15,171,170

Accounts payable - Summary of t

Accounts payable - Summary of trade and other payables (Detail) - HKD ($)	Dec. 31, 2020	Dec. 31, 2019
Trade and other payables [abstract]
Clients' payables	$ 138,747	$ 256,423,531
Payables to clearing house and brokers	1,311,748	9,062,629
Clients' monies held on trust (Note 15)	200,535,707	226,553,176
Accounts payable	$ 201,986,202	$ 492,039,336

Accounts payable - Summary of a

Accounts payable - Summary of aging analysis of the accounts payable (Detail) - HKD ($)	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Detailed Information About Aging Analysis Of Trade And Other Payables Explanatory [Line Items]
Trade and other current payables	$ 201,986,202	$ 492,039,336
Within one month [member]
Disclosure Of Detailed Information About Aging Analysis Of Trade And Other Payables Explanatory [Line Items]
Trade and other current payables	1,450,495	265,486,160
Repayable on demand [member]
Disclosure Of Detailed Information About Aging Analysis Of Trade And Other Payables Explanatory [Line Items]
Trade and other current payables	$ 200,535,707	$ 226,553,176

Margin loans payable - Addition

Margin loans payable - Additional information (Detail) - HKD ($)	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about borrowings [line items]
Financial assets pledged as collateral for liabilities or contingent liabilities		$ 1,249,999,800
Margin loans payable		317,722,438
Financial assets at fair value through profit or loss, category [member]
Disclosure of detailed information about borrowings [line items]
Financial assets pledged as collateral for liabilities or contingent liabilities		$ 1,249,999,800
Margin Loans Payable [Member]
Disclosure of detailed information about borrowings [line items]
Margin loans interest rate		6.625%
Margin loans payable	$ 0

Bank Borrowings - Summary of cu

Bank Borrowings - Summary of currency analysis of bank borrowings (Detail) - HKD ($)	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 232,280,000	$ 0
Hong Kong Dollars [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings	116,000,000
United States Dollars [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 116,280,000

Bank Borrowings - Additional In

Bank Borrowings - Additional Information (Detail)	Dec. 31, 2020HKD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019HKD ($)
Disclosure of detailed information about borrowings [abstract]
Borrowings, interest rate	2.10%	2.10%
Borrowings	$ 232,280,000		$ 0
Banking facilities granted to the Group	$ 232,560,000	$ 30,000,000	$ 0

Other Payables And Accruals - S

Other Payables And Accruals - Summary of detailed information about other payables and accruals (Detail) - HKD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Detailed Information About Accrued Expenses And Other Liabilities [Line Items]
Accruals and other payables	$ 81,054,895	$ 66,043,431
Contract liabilities	47,270,998	111,974,163	$ 55,111,818
Current accrued expenses and other current liabilities	$ 128,325,893	$ 178,017,594

Other Payables And Accruals -_2

Other Payables And Accruals - Summary of detailed information about contract liabilities (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure of performance obligations [line items]
Beginning Value	$ 111,974,163	$ 55,111,818
Upfront fee received during the year	38,201,342	127,418,656
Revenue recognised during the year	(102,904,507)	(70,556,311)
Ending value	$ 47,270,998	$ 111,974,163

Deferred Tax Liabilities - Summ

Deferred Tax Liabilities - Summary of Deferred Tax Liabilites (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Beginning balance	$ 242,913,577
Deferred tax charged to profit or loss during the year (Note 9)	(242,913,577)	$ 79,556,400	$ 33,148,500
Ending balance		242,913,577
Unrealized Gain on Investment [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Beginning balance	242,913,577	163,357,177
Deferred tax charged to profit or loss during the year (Note 9)	(242,913,577)	79,556,400
Ending balance	$ 0	$ 242,913,577	$ 163,357,177

Deferred Tax Liabilities - Addi

Deferred Tax Liabilities - Additional Information (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax expense (income) recognised in profit or loss	$ 242,913,577	$ (79,556,400)	$ (33,148,500)
HK [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Estimated tax losses	$ 550,615	$ 1,010,061

Convertible Bond and Derivati_3

Convertible Bond and Derivative Financial Liability - Additional Information (Detail) - Convertible bonds [member]	12 Months Ended
	Dec. 31, 2020USD ($)$ / shares	Dec. 31, 2019HKD ($)	Dec. 19, 2019USD ($)
Summary of convertible bonds [line items]
Convertible bond, interest rate			2.00%
Convertible bond, principal amount		$ 117,418,500	$ 15,000,000
Convertible bond, maturity date	June 30, 2023
Convertible bond, conversion basis	99.44 American Depositary Shares (“ADSs”) per US$1,000 principal.
Convertible bond, conversion price | $ / shares	$ 99.44
Convertible bond, minimum conversion amount | $	$ 10,000,000

Convertible Bond and Derivati_4

Convertible Bond and Derivative Financial Liability - Summary of convertible bonds (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary of movement of convertible bond [line items]
Fair value gain recognised in profit or loss	$ 7,765,148
Convertible bonds [member] | Liability component [Member]
Summary of movement of convertible bond [line items]
Beginning balance	95,995,690	$ 0
Convertible bond issued during the year		95,995,690
Interest for the year	7,717,348
Exchange alignment	(434,609)
Ending balance	103,278,429	95,995,690	0
Fair value gain recognised in profit or loss	0
Convertible bonds [member] | Derivative Financial Liability [Member]
Summary of movement of convertible bond [line items]
Beginning balance	20,813,810	0
Fair value gain recognised in profit or loss	(7,765,148)
Convertible bond issued during the year		20,813,810
Exchange alignment	(94,349)
Ending balance	$ 12,954,313	$ 20,813,810	$ 0

Share Capital and Capital Res_3

Share Capital and Capital Reserve - Additional Information (Detail) $ / shares in Units, $ in Millions	Aug. 05, 2019HKD ($)shares	Apr. 26, 2019USD ($)shares	Apr. 10, 2019USD ($)shares	Dec. 31, 2020$ / sharesshares	Dec. 31, 2019HKD ($)shares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018shares
Disclosure of classes of share capital [line items]
Increase (decrease) through exercise of warrants, equity					$ 94,197,600
Proceeds from issue of shares					2,767,254,756
Proceeds from warrant issue					$ 15,699,600	$ 2
Description of warrant rights					one ordinary share	one ordinary share
Exercise price of warrant | $ / shares						$ 7.2
New issuance of shares					$ 782,393,491
Listing expense					$ 58,300,000
Class B ordinary shares converted into Class A ordinary shares | shares				21,243,000
Initial Public Offer [Member]
Disclosure of classes of share capital [line items]
Share issuance costs	$ 1,507,200,000
Class B Ordinary Shares [Member]
Disclosure of classes of share capital [line items]
Par value per share | $ / shares				$ 0.0001		$ 0.0001
Number of ordinary shares issued during the period | shares					4,526,627	4,526,627
Common stock shares outstanding | shares				183,283,628		204,526,628	200,000,001
Class A ordinary shares [Member]
Disclosure of classes of share capital [line items]
Increase (decrease) through exercise of warrants, equity			$ 10
Par value per share | $ / shares				$ 0.0001		$ 0.0001
Number of ordinary shares issued during the period | shares		8,236,838	1,666,666		7,307,692	7,307,692
Proceeds from issue of shares		$ 53.5
Common stock shares outstanding | shares				62,327,851		41,084,851
Class A ordinary shares [Member] | Initial Public Offer [Member]
Disclosure of classes of share capital [line items]
Shares Issued and fully paid | shares	23,873,655
American depository shares [member] | Initial Public Offer [Member]
Disclosure of classes of share capital [line items]
Shares Issued and fully paid | shares	23,873,655
Class A and Class B ordinary shares [member]
Disclosure of classes of share capital [line items]
Issue price per share | $ / shares						$ 8.45
New issuance of shares						$ 100

Share Capital and Capital Res_4

Share Capital and Capital Reserve - Summary of Reserves Within Equity (Detail) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Class A ordinary shares [Member]
Disclosure of reserves within equity [line items]
Beginning balance, Number of shares	41,084,851
Exercise of warrants, Number of shares		1,666,666
Pre-IPO financing, Number of shares		8,236,838
Initial public offering, Number of shares		23,873,655
New issuance of shares, Number of shares		7,307,692
Convertion of class B ordinary shares to class A ordiniary shares Number of shares	21,243,000
Ending balance, Number of shares	62,327,851	41,084,851
Class B ordinary shares [Member]
Disclosure of reserves within equity [line items]
Beginning balance, Number of shares	204,526,628	200,000,001
New issuance of shares, Number of shares		4,526,627
Convertion of class B ordinary shares to class A ordiniary shares Number of shares	(21,243,000)
Ending balance, Number of shares	183,283,628	204,526,628

Perpetual Securities - Addition

Perpetual Securities - Additional Information (Detail)	May 14, 2020HKD ($)	Dec. 31, 2020HKD ($)	May 14, 2020SGD ($)	May 14, 2020USD ($)
Disclosure of classes of share capital [line items]
Exchange of Securities into aggregate amount of Senior perpetual capital securities		$ 382,082,113
Profit attributable to holders of Perpetual Securities		78,987,714
Cash paid to holders of preprtual securities		$ 62,753,625
Perpetual Securities I [member]
Disclosure of classes of share capital [line items]
Debt securities issued	$ 1,550,020,000			$ 200,000,000
Shares Distribution rate	7.25%		7.25%	7.25%
Direct transaction costs attributable to the perpetual securities	$ 4,460,393
Exchange of Securities into aggregate amount of Senior perpetual capital securities	301,633,892			$ 38,920,000
First reset date of perpetual securities issued		May 14, 2023
Initial spread		7.011%
Step up margin to the distribution rate		5.00%
Perpetual Securities II [member]
Disclosure of classes of share capital [line items]
Debt securities issued	$ 272,890,845		$ 50,000,000
Shares Distribution rate	4.50%		4.50%	4.50%
Direct transaction costs attributable to the perpetual securities	$ 4,460,393
Exchange of Securities into aggregate amount of Senior perpetual capital securities	$ 80,448,221		$ 14,740,000
Optional dedemption date		May 14, 2025

Notes To The Consolidated Sta_3

Notes To The Consolidated Statements Of Cash Flows - Summary Of Liabilities Arising From Financing Activities (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning balance	$ 434,531,938	$ 321,999,549	$ 351,609,630
Cash flow from financing activities	(99,235,169)	84,826,434	(38,657,144)
Interest expenses	21,510,079	27,705,955	9,047,063
Exchange alignment	(528,958)
Fair value gain recognised in profit or loss	(7,765,148)
Ending balance	348,512,742	434,531,938	321,999,549
Margin Loans Payable [Member]
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning balance	317,722,438	321,999,549	351,609,630
Cash flow from financing activities	(330,197,734)	(31,983,066)	(38,657,144)
Interest expenses	12,475,296	27,705,955	9,047,063
Ending balance		317,722,438	$ 321,999,549
Convertible Bond [member]
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning balance	95,995,690
Cash flow from financing activities		95,995,690
Interest expenses	7,717,348
Exchange alignment	(434,609)
Ending balance	103,278,429	95,995,690
Derivative Financial Liability [Member]
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning balance	20,813,810
Cash flow from financing activities		20,813,810
Exchange alignment	(94,349)
Fair value gain recognised in profit or loss	(7,765,148)
Ending balance	12,954,313	$ 20,813,810
Bank Borrowings [Member]
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Cash flow from financing activities	230,962,565
Interest expenses	1,317,435
Ending balance	$ 232,280,000

Notes To The Consolidated Sta_4

Notes To The Consolidated Statements Of Cash Flows - Summary Of Balances With Related Parties Explnatory (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Company [Member]
Disclosure of transactions between related parties [line items]
Operating activities			$ 7,500
Net cash inflow/(outflow)			7,500
Fellow Subsidiaries [Member]
Disclosure of transactions between related parties [line items]
Operating activities			(699,864,420)
Financing activities			203,607,914
Net cash inflow/(outflow)			(496,256,506)
Immediate holding company [Member]
Disclosure of transactions between related parties [line items]
Operating activities			439,200,382
Investing activities	$ (3,581,230,632)	$ (2,957,926,150)
Net cash inflow/(outflow)	$ (3,581,230,632)	$ (2,957,926,150)	$ 439,200,382

Notes To The Consolidated Sta_5

Notes To The Consolidated Statements Of Cash Flows - Additional Information (Detail) $ in Millions	Apr. 26, 2019shares	Apr. 10, 2019USD ($)shares	Dec. 31, 2020HKD ($)	Dec. 31, 2019HKD ($)shares	Dec. 31, 2018HKD ($)
Notes To The Consolidated Statement Of Cash Flows [Line Items]
Purchasing financial assets			$ 148,671,602
Peoceeds from Disposel of equity linked notes by subsidiary			195,789,033
Exercise of warrants				$ 94,197,600
Gain recognized on investment of equity linked notes			$ 82,948,667
Class A ordinary shares [Member]
Notes To The Consolidated Statement Of Cash Flows [Line Items]
Exercise of warrants		$ 10
Number of ordinary shares issued during the period | shares	8,236,838	1,666,666		7,307,692
Fellow Subsidiaries [Member]
Notes To The Consolidated Statement Of Cash Flows [Line Items]
Purchasing financial assets					$ 203,607,914

Related Party Transactions - Su

Related Party Transactions - Summary of Detailed Information About Additional Information of Transactions With Related Parties (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of transactions between related parties [line items]
Revenue from rendering of services, related party transactions	$ 125,745,131	$ 42,111,072	$ 70,988,340
Interest income from immediate holding company	101,159,079	17,562,104
Staff costs	20,156,843
Premises cost	14,010,263
Office renovation		869,214
Total of recharge from immediate holding company	34,167,106
Net changes in fair value on derivative financial asset entered into with a related party controlled by a director of the Company	321,797,949
Consideration received for disposal of investments to a related party controlled by a director of the Company	972,215,580
Consideration received for settlement of derivatives contracts with a related party controlled by a director of the Company	618,682,641
Immediate holding company [Member]
Disclosure of transactions between related parties [line items]
Staff costs		17,936,752	11,678,050
Premises cost		5,300,986	9,329,432
Office renovation			1,250,906
Other operating (income)/expenses, net		9,798,649	(1,753,759)
Total of recharge from immediate holding company		33,905,601	20,504,629
Fellow Subsidiaries [Member]
Disclosure of transactions between related parties [line items]
Consideration received for settlement of financial asset at fair value through profit or loss by a fellow subsidiary	195,789,033
Related Party Controlled By a Director of Company [Member]
Disclosure of transactions between related parties [line items]
Net changes in fair value on derivative financial asset entered into with a related party controlled by a director of the Company		1,165,220,000
Underwriting Services [Member] | Immediate holding company [Member]
Disclosure of transactions between related parties [line items]
Revenue from rendering of services, related party transactions		26,420,072
Financial Advisory Service [Member] | Fellow Subsidiaries [Member]
Disclosure of transactions between related parties [line items]
Revenue from rendering of services, related party transactions	30,231,825	15,691,000	70,988,340
Financial Advisory Service [Member] | Related Party Controlled By a Director of Company [Member]
Disclosure of transactions between related parties [line items]
Revenue from rendering of services, related party transactions	95,513,306
Management Fee Income [Member] | Immediate holding company [Member]
Disclosure of transactions between related parties [line items]
Management fee paid to immediate holding company	150,000	150,000
Investment Advisory Fee [Member] | Fellow Subsidiaries [Member]
Disclosure of transactions between related parties [line items]
Services received, related party transactions	180,000	180,000	180,000
Insurance Commission [Member] | Fellow Subsidiaries [Member]
Disclosure of transactions between related parties [line items]
Services received, related party transactions	105,251	84,133	57,063
Asset Management Services [Member] | Fellow Subsidiaries [Member]
Disclosure of transactions between related parties [line items]
Revenue from rendering of services, related party transactions	1,362	457,431	5,784,775
Asset Management Services [Member] | Entities with joint control or significant influence over entity [Member]
Disclosure of transactions between related parties [line items]
Revenue from rendering of services, related party transactions	2,672,527	478,611
Acquisition of Investment [Member] | Immediate holding company [Member]
Disclosure of transactions between related parties [line items]
Acquisition of investment from immediate holding company	556,161,528
Acquisition of Investment [Member] | Fellow Subsidiaries [Member]
Disclosure of transactions between related parties [line items]
Acquisition of investments from a fellow subsidiary	148,671,602		$ 72,072,000
Administrative Service Fees [Member] | Immediate holding company [Member]
Disclosure of transactions between related parties [line items]
Administrative service fee paid to immediate holding company	24,000,000	12,000,000
Investment banking service [Member] | Entities with joint control or significant influence over entity [Member]
Disclosure of transactions between related parties [line items]
Revenue from rendering of services, related party transactions		2,999,584
Interest income [Member] | Immediate holding company [Member]
Disclosure of transactions between related parties [line items]
Interest income from immediate holding company	$ 101,159,079	$ 17,562,104

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of unconsolidated structured entities [line items]
Due from fellow subsidiaries		$ 2,142,145
Other income from a fellow subsidiary			$ 3,666,040
Provision for credit loss from related parties	$ 0	0	$ 0
Fellow Subsidiaries [member]
Disclosure of unconsolidated structured entities [line items]
Due from fellow subsidiaries	0
Other related parties [member]
Disclosure of unconsolidated structured entities [line items]
Due from a related company	0	0
Immediate holding company [Member]
Disclosure of unconsolidated structured entities [line items]
Advances to related parties	$ 6,477,266,499	$ 2,921,838,772
Interest rate on receivables		2.00%
Interest on advances		2.00%
Receivables acquired by immediate holding company		$ 4,075,351
Immediate holding company [Member] | Administrative Service Fees [Member] | Quarterly [Member]
Disclosure of unconsolidated structured entities [line items]
Service received related party transactions		6,000,000
Entities with joint control or significant influence over entity [Member]
Disclosure of unconsolidated structured entities [line items]
Current payables to related parties		$ 156,659,071

Related Party Transactions - _2

Related Party Transactions - Summary of Detailed Information About Compensation Of Key Management Personnel (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Detailed Information About Compensation Of Key Management Personnel [Line Items]
Short-term employee benefits	$ 32,692,568	$ 43,062,534	$ 19,473,470
Other long-term benefit	54,745	92,700	61,428
Total benefits	$ 32,747,313	$ 43,155,234	$ 19,534,898

Financial Instruments By Cate_3

Financial Instruments By Category - Summary of Financial Assets (Detail) - HKD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of financial assets [line items]
Accounts receivable	$ 77,350,250	$ 346,379,574
Financial assets included in prepayments, deposits and other receivables	1,650,827	1,355,013
Due from immediate holding company	6,477,266,499	2,921,838,772
Financial assets at fair value through profit or loss	1,377,856,715	1,572,697,716
Stock Loan	878,483,400	1,200,980,200
Derivative financial Asset	1,023,902,566	1,165,220,000
Other assets	197,309,175	245,502,780
Cash and bank balances	453,966,764	766,430,471	$ 126,855,518	$ 86,415,282
Financial assets	3,280,242,681	3,938,897,916
Financial Assets By Category [member]
Disclosure of financial assets [line items]
Financial assets	10,487,786,196	8,220,404,526
Financial assets at fair value through profit or loss mandatorily measured at fair value category [member]
Disclosure of financial assets [line items]
Financial assets at fair value through profit or loss	1,377,856,715	1,572,697,716
Stock Loan	878,483,400	1,200,980,200
Derivative financial Asset	1,023,902,566	1,165,220,000
Financial assets	3,280,242,681	3,938,897,916
Financial assets at amortised cost, category [member]
Disclosure of financial assets [line items]
Accounts receivable	77,350,250	346,379,574
Financial assets included in prepayments, deposits and other receivables	1,650,827	1,355,013
Due from immediate holding company	6,477,266,499	2,921,838,772
Other assets	197,309,175	245,502,780
Cash and bank balances	453,966,764	766,430,471
Financial assets	$ 7,207,543,515	$ 4,281,506,610

Financial Instruments By Cate_4

Financial Instruments By Category - Summary of Financial Liabilities (Detail) - HKD ($)	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial liabilities [line items]
Accounts payable	$ 201,986,202	$ 492,039,336
Margin loans payable		317,722,438
Financial liabilities included in other payables and accruals	54,162,984	66,043,431
Bank borrowings	232,280,000	0
Derivative financial liability	12,954,313	20,813,810
Convertible bond	103,278,429	95,995,690
Financial liabilities	604,661,928	992,614,705
Financial liabilities at amortized cost [Member]
Disclosure of financial liabilities [line items]
Accounts payable	201,986,202	492,039,336
Margin loans payable		317,722,438
Financial liabilities included in other payables and accruals	54,162,984	66,043,431
Bank borrowings	232,280,000
Convertible bond	103,278,429	95,995,690
Financial liabilities	591,707,615	971,800,895
Financial liabilities at fair value through profit or loss, category [member]
Disclosure of financial liabilities [line items]
Derivative financial liability	12,954,313	20,813,810
Financial liabilities	$ 12,954,313	$ 20,813,810

Fair value and fair value hie_3

Fair value and fair value hierarchy of financial instruments - Schedule of carrying amount and fair value of the financial instruments (Detail) - HKD ($)	Dec. 31, 2020	Dec. 31, 2019
Categories of financial assets [abstract]
Financial assets at fair value through profit or loss	$ 1,377,856,715	$ 1,572,697,716
Derivative financial Asset	1,023,902,566	1,165,220,000
Stock loan	878,483,400	1,200,980,200
Financial assets	2,256,340,115	2,773,677,916
Carrying amounts [member]
Categories of financial assets [abstract]
Financial assets	3,280,242,681	3,938,897,916
Categories of financial liabilities [abstract]
Derivative financial liability	12,954,313	20,813,810
Carrying amounts [member] | Financial assets at fair value through profit or loss, category [member]
Categories of financial assets [abstract]
Financial assets at fair value through profit or loss	1,377,856,715	1,572,697,716
Carrying amounts [member] | Stock loan [member]
Categories of financial assets [abstract]
Stock loan	878,483,400	1,200,980,200
Carrying amounts [member] | Derivative financial Asset [member]
Categories of financial assets [abstract]
Derivative financial Asset	1,023,902,566	1,165,220,000
Fair values [member]
Categories of financial assets [abstract]
Financial assets	3,292,509,134	3,921,050,695
Categories of financial liabilities [abstract]
Derivative financial liability	12,954,313	20,813,810
Fair values [member] | Financial assets at fair value through profit or loss, category [member]
Categories of financial assets [abstract]
Financial assets at fair value through profit or loss	1,377,856,715	1,572,697,716
Fair values [member] | Stock loan [member]
Categories of financial assets [abstract]
Stock loan	878,483,400	1,200,980,200
Fair values [member] | Derivative financial Asset [member]
Categories of financial assets [abstract]
Derivative financial Asset	$ 1,036,169,019	$ 1,147,372,779

Fair value and fair value hie_4

Fair value and fair value hierarchy of financial instruments - Summary of Significant Unobservable Inputs to Valuation of Financial Instruments (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Unlisted Equity Investment Investment C
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items]
Valuation Technique	Multiple/EVA	Multiple/EVA
Significant Unobservable input	Equity volatility	Equity volatility
Range	63.61%	33.08%
Sensitivity of Value to the input	5% increase/decrease in volatility results in decrease/increase in fair value by 3.5%/3.3%	5% increase/decrease in volatility results in decrease/increase in fair value by 1.0%/0.3%
Unlisted Equity Investment Investment B
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items]
Valuation Technique	Multiple/EVA
Significant Unobservable input	</div> <div style="font-family: "times new roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 1pt; line-height: normal;;text-align:right;"><div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: "times new roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Equity volatility</div></div></div> " id="sjs-B12" xml:space="preserve">&lt;div style="font-size: 10pt; margin-top: 0px; margin-bottom: 0px; line-height: normal;"> &lt;/div> &lt;div style="font-family: &quot;times new roman&quot;; font-size: 10pt; margin-top: 0pt; margin-bottom: 1pt; line-height: normal;;text-align:right;">&lt;div style="background-color: rgb(204, 238, 255); letter-spacing: 0px; top: 0px;;display:inline;">&lt;div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Equity volatility&lt;/div>&lt;/div>&lt;/div>
Range	39.64%
Sensitivity of Value to the input	5% increase/decrease in volatility results in decrease/increase in fair value by 0.9%/0.9%
Derivative Financial Liability [member]
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items]
Valuation Technique	Binomial option pricing model	Binomial option pricing model
Significant Unobservable input	Volatility	Volatility
Range	56.58%	67.87%
Sensitivity of Value to the input	5% increase/decrease in volatility results in increase/decrease in fair value by 1.63%/1.66%	5% increase/decrease in volatility results in increase/decrease in fair value by 4.58%/4.66%
Derivative financial Asset [member]
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items]
Valuation Technique	MCS	MCS
Significant Unobservable input	Volatility of Underlying Assets	Volatility of Underlying Assets
Range	46.03%
Sensitivity of Value to the input	5% increase/decrease in volatility results in increase/decrease in fair value by 0.23%/0.11%	5% increase/decrease in volatility results in increase/decrease in fair value by 0.02%/0.23%
Bottom of range [member] | Derivative financial Asset [member]
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items]
Range		32.82%
Top of range [member] | Derivative financial Asset [member]
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items]
Range		36.28%
Credit Rate Increase BB To BBB | Derivative financial Asset [member]
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items]
Significant Unobservable input	Credit rating	Credit rating
Sensitivity of Value to the input	One rank level increase in credit rating of counterparty from BB to BBB results in increase in fair value by 0.02%	One rank level increase in credit rating of counterparty from BB to BBB results in increase in fair value by 0.04%
Credit Rate Decrease BB to B | Derivative financial Asset [member]
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items]
Sensitivity of Value to the input	One rank level decrease in credit rating of counterparty from BB to B results in decrease in fair value by 0.16%	One rank level decrease in credit rating of counterparty from BB to B results in decrease in fair value by 0.80%
Average PE multiple of peers [Member] | Unlisted Equity Investment Investment C
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items]
Significant Unobservable input	Median P/E multiple of peers	Average P/E multiple of peers
Range		10.80%
Sensitivity of Value to the input		5% increase/decrease in P/E multiple results in increase/decrease in fair value by 5.4%/4.1%
Average PE multiple of peers [Member] | Unlisted Equity Investment Investment B
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items]
Range	10.40%
Sensitivity of Value to the input	5% increase/decrease in P/E multiple results in increase/decrease in fair value by 4.7%/4.8%
Discount Rate [Member] | Derivative Financial Liability [member]
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items]
Significant Unobservable input	Discount rate	Discount rate
Range	9.77%	12.52%
Sensitivity of Value to the input	5% increase/decrease in discount rate results in decrease/increase in fair value by 8.22%/9.41%	5% increase/decrease in discount rate results in increase/decrease in fair value by 0.32%/0.32%

Fair value and fair value hie_5

Fair value and fair value hierarchy of financial instruments - Disclosure of Fair Value Measurement of Assets Explanatory (Detail) - HKD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about financial instruments [line items]
Financial assets at fair value through profit or loss	$ 1,377,856,715	$ 1,572,697,716
Stock Loan	878,483,400	1,200,980,200
Financial assets	2,256,340,115	2,773,677,916
Derivative financial Asset	1,023,902,566	1,165,220,000
Financial assets	3,280,242,681	3,938,897,916
Quoted prices in active markets (Level 1)
Disclosure of detailed information about financial instruments [line items]
Financial assets at fair value through profit or loss	185,435,750	1,249,999,800
Stock Loan	878,483,400	1,200,980,200
Financial assets	1,063,919,150	2,450,980,000
Derivative financial Asset	0	0
Financial assets	1,063,919,150	2,450,980,000
Significant observable inputs (Level 2)
Disclosure of detailed information about financial instruments [line items]
Financial assets at fair value through profit or loss	892,565,280	0
Stock Loan	0	0
Financial assets	892,565,280	0
Derivative financial Asset	0	0
Financial assets	892,565,280	0
Significant unobservable inputs (Level 3)
Disclosure of detailed information about financial instruments [line items]
Financial assets at fair value through profit or loss	299,855,685	322,697,916
Stock Loan	0	0
Financial assets	299,855,685	322,697,916
Derivative financial Asset	1,023,902,566	1,165,220,000	$ 0
Financial assets	$ 1,323,758,251	$ 1,487,917,916

Fair Value and Fair Value Hie_6

Fair Value and Fair Value Hierarchy of Financial Instruments - Disclosure of Fair Value Measurement of Liabilities Explanatory (Detail) - Liability measured at fair value [Member] - HKD ($)	Dec. 31, 2020	Dec. 31, 2019
Disclosure of fair value measurement of liabilities [line items]
Derivative financial instrument	$ 12,594,313	$ 20,813,810
Level 1 [member]
Disclosure of fair value measurement of liabilities [line items]
Derivative financial instrument	0	0
Level 2 [member]
Disclosure of fair value measurement of liabilities [line items]
Derivative financial instrument	0	0
Level 3 [member]
Disclosure of fair value measurement of liabilities [line items]
Derivative financial instrument	$ 12,594,313	$ 20,813,810

Fair value and fair value hie_7

Fair value and fair value hierarchy of financial instruments - Schedule of detailed information about in fair value measurement Level 3 (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Unlisted debt securities and unlisted equity shares at fair value through profit or loss:
Balance	$ 2,773,677,916
Net fair value changes recognised in profit or loss	(31,054,945)	$ (641,603,993)	$ 256,460,295
Balance	2,256,340,115	2,773,677,916
Derivative financial asset (Note 14):
Balance	1,165,220,000
Balance	1,023,902,566	1,165,220,000
Derivative financial liability (Note 24):
Net fair value changes recognised in profit or loss	(7,765,148)
Financial liabilities at fair value through profit or loss—Held for trading [Member]
Derivative financial liability (Note 24):
Beginning balance	20,813,810
Issued	0	20,813,810
Net fair value changes recognised in profit or loss		0
Exchange alignment	(94,349)	0
Ending balance	12,954,313	20,813,810
Level 3 [member]
Unlisted debt securities and unlisted equity shares at fair value through profit or loss:
Balance	322,697,916	281,241,909	15,629,400
Purchase	0	0	211,456,214
Net fair value changes recognised in profit or loss	(22,842,231)	41,456,007	54,156,295
Balance	299,855,685	322,697,916	281,241,909
Warrants at fair value through profit or loss:
Balance	0	0
Issued		15,699,600
Exercised		(15,699,600)
Balance		0	0
Derivative financial asset (Note 14):
Balance	1,165,220,000	0
Recognition of day 1 profit or loss deferred on inception of contract, renegotiation and extension	(41,782,951)	472,591,235
Net fair value gains recognised in profit or loss	413,088,277	692,628,765
Gain related to disposed investment	106,059,881
Partial settlement	(618,682,641)	0
Balance	$ 1,023,902,566	$ 1,165,220,000	$ 0

Fair value and fair value hie_8

Fair value and fair value hierarchy of financial instruments - Additional information (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about financial instruments [line items]
Transfer from level 1 to level 2	$ 0	$ 0	$ 0
Transfer from level 2 to level 1	0	0	0
Transfers out of level3	0	0	0
Transfers into level3	$ 0	$ 0	$ 0

Financial risk management obj_3

Financial risk management objectives and policies - Disclosure of financial assets that are either past due or impaired (Details) - HKD ($)	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial assets that are either past due or impaired [line items]
Accounts receivable	$ 77,350,250	$ 346,379,574
Financial assets included in prepayments, deposits and other receivables	24,872,391	36,440,972
Financial assets at amortised cost	7,207,543,515	4,281,506,610
Internal Credit Risk Rating AA [member]
Disclosure of financial assets that are either past due or impaired [line items]
Bank balances-segregated accounts	197,309,175	245,502,780
Cash and bank balances	453,966,764	766,430,471
Normal [member]
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets included in prepayments, deposits and other receivables	1,650,827	1,355,013
Due from immediate holding company	6,477,266,499	2,921,838,772
12-month expected credit losses [member] | Stage 1 [member]
Disclosure of financial assets that are either past due or impaired [line items]
Accounts receivable	21,165,253	0
Financial assets at amortised cost	7,151,358,518	3,935,127,036
12-month expected credit losses [member] | Stage 1 [member] | Internal Credit Risk Rating AA [member]
Disclosure of financial assets that are either past due or impaired [line items]
Bank balances-segregated accounts	197,309,175	245,502,780
Cash and bank balances	453,966,764	766,430,471
12-month expected credit losses [member] | Stage 1 [member] | Normal [member]
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets included in prepayments, deposits and other receivables	1,650,827	1,355,013
Due from immediate holding company	6,477,266,499	2,921,838,772
Lifetime expected credit losses [member]
Disclosure of financial assets that are either past due or impaired [line items]
Accounts receivable	77,350,250	346,379,574
Lifetime expected credit losses [member] | Simplified approach [member]
Disclosure of financial assets that are either past due or impaired [line items]
Accounts receivable	56,184,997	346,379,574
Financial assets at amortised cost	$ 56,184,997	$ 346,379,574

Financial risk management obj_4

Financial risk management objectives and policies - Disclosure of maturity analysis for non-derivative financial liabilities (Detail) - HKD ($)	Dec. 31, 2020	Dec. 31, 2019
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Accounts payable	$ 201,986,202	$ 492,039,336
Margin loans payable		317,722,438
Bank borrowings	233,493,790
Financial liabilities included in other payables and accruals	54,136,011	66,043,431
Convertible bonds	124,606,940	125,273,321
Non-derivative financial liabilities, undiscounted cash flows	$ 614,222,943	$ 1,001,078,526
Weighted average interest rate	2.10%
Margin Loans Payable [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Weighted average interest rate		6.625%
Convertible Bond [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Weighted average interest rate	7.80%	7.80%
Bank borrowings [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Weighted average interest rate	2.10%
On demand or less than 3 months [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Accounts payable	$ 201,986,202	$ 492,039,336
Margin loans payable		317,722,438
Bank borrowings	233,493,790
Financial liabilities included in other payables and accruals	54,136,011	66,043,431
Non-derivative financial liabilities, undiscounted cash flows	489,616,003	875,805,205
1 to 5 years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Convertible bonds	124,606,940	125,273,321
Non-derivative financial liabilities, undiscounted cash flows	$ 124,606,940	$ 125,273,321

Financial risk management obj_5

Financial risk management objectives and policies - Additional Information (Detail) - HKD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of financial assets that are either past due or impaired [line items]
Profit Loss Before Tax	$ 1,001,420,217	$ 989,253,972	$ 608,965,226
Derivative financial instrument charged to profit or loss	371,305,326	1,165,220,000
Ariana Capital Investment Limited [member] | Derivative Financial Assets [member]
Disclosure of financial assets that are either past due or impaired [line items]
Credit risk exposure of derivative financial instruments	$ 1,023,902,566	$ 1,165,220,000
Invesment Segment [member]
Disclosure of financial assets that are either past due or impaired [line items]
Concentration risk percentage	79.00%
Investment [member] | Unlisted Equity Shares And Unlisted Debt Securities [Member]
Disclosure of financial assets that are either past due or impaired [line items]
Concentration risk percentage	71.00%
Hong Kong Confederation of Insurance Brokers [member]
Disclosure of financial assets that are either past due or impaired [line items]
Net Asset Value	$ 100,000
Stock Loan [member] | Bank of Qingdao Co Ltd [member]
Disclosure of financial assets that are either past due or impaired [line items]
Stock Loan Percent	100.00%	100.00%
Price Risk [member]
Disclosure of financial assets that are either past due or impaired [line items]
Percentage Of Increase Decrease In Market Value Of Financial Assets At FVTPL	5.00%	5.00%
Profit Loss Before Tax	$ 50,070,000	$ 122,549,000
Percent of increase decrease in share price	5.00%	5.00%
Increase in profit before tax	$ 1,036,000	$ 822,000
Decrease in profit before tax	$ 1,036,000	$ 792,000
Price Risk [member] | Unlisted Equity Shares And Unlisted Debt Securities [Member]
Disclosure of financial assets that are either past due or impaired [line items]
Percentage Of Increase Decrease In Market Value Of Financial Assets At FVTPL	5.00%	5.00%
Profit Loss Before Tax	$ 62,747,000	$ 16,134,896
Credit risk [member]
Disclosure of financial assets that are either past due or impaired [line items]
Fair value of securities pledged	2,860,797,360	962,442,277
Interest rate risk [Member]
Disclosure of financial assets that are either past due or impaired [line items]
Profit Loss Before Tax

Stock Incentive Plan - Addition

Stock Incentive Plan - Additional Information (Detail) - Two Thousand Nineteen Plan [member]	Dec. 31, 2020shares
Stock Incentive Plan [Line Items]
Maximum number of ordinary shares that may be issued	20,000,000
Percent of automatic increase of shares on total issued and outstanding share capital	10.00%
Percent of additional automatic increase of shares on total issued and outstanding share capital	1.00%

Approval of Consolidated Fina_2

Approval of Consolidated Financial Statements - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020
Disclosure of non-adjusting events after reporting period [abstract]
Date of approval of financial statements	Apr. 27, 2021