OneConnect Financial Technology (OCFT) 20-F 24 Apr 23 2022 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2022 shares
Document and Entity Information
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-39147
Entity Registrant Name	OneConnect Financial Technology Co., Ltd.
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	10-14F, Block A, Platinum Towers,
Entity Address, Address Line Two	No.1 Tairan 7th RoadFutian District
Entity Address, City or Town	Shenzhen, Guangdong
Entity Address, Country	CN
Entity Common Stock, Shares Outstanding	1,169,980,653
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Accounting Standard	International Financial Reporting Standards
Entity Shell Company	false
Entity Central Index Key	0001780531
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Address, Postal Zip Code	518000
Auditor Name	PricewaterhouseCoopers Zhong Tian LLP
Auditor Firm ID	1424
Auditor Location	Shenzhen, the People’s Republic of China
American depositary shares, each ADS represents thirty ordinary shares, par value USS0.00001 per share
Document and Entity Information
Title of 12(b) Security	American depositary shares
Trading Symbol	OCFT
Security Exchange Name	NYSE
Ordinary shares, par value USS0.00001 per share
Document and Entity Information
Title of 12(b) Security	Ordinary shares
Trading Symbol	6638
Business Contact
Document and Entity Information
Contact Personnel Name	Mr. Yongtao Luo
City Area Code	852
Local Phone Number	3757 9718
Contact Personnel Email Address	OCFT_IR@ocft.com
Entity Address, Address Line One	10-14F, Block A, Platinum Towers,
Entity Address, Address Line Two	No.1 Tairan 7th RoadFutian District
Entity Address, City or Town	Shenzhen. Guangdong
Entity Address, Country	CN

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement
Revenue	¥ 4,464,002	¥ 4,132,357	¥ 3,312,290
Cost of revenue	(2,828,986)	(2,695,706)	(2,068,834)
Gross profit	1,635,016	1,436,651	1,243,456
Research and development expenses	(1,417,691)	(1,353,018)	(1,173,290)
Selling and marketing expenses	(411,356)	(588,380)	(629,488)
General and administrative expenses	(824,711)	(841,685)	(834,917)
Net impairment losses on financial and contract assets	(33,639)	(72,229)	(134,519)
Other income, gains or loss-net	70,818	13,921	58,432
Operating loss	(981,563)	(1,404,740)	(1,470,326)
Finance income	14,709	28,823	77,237
Finance costs	(37,173)	(76,637)	(150,363)
Finance costs - net	(22,464)	(47,814)	(73,126)
Share of (losses)/gain of associate and joint venture - net	24,852	9,946	(7,802)
Impairment charges on associates	(10,998)
Loss before income tax	(990,173)	(1,442,608)	(1,551,254)
Income tax benefit	62,147	112,095	137,131
Loss for the year	(928,026)	(1,330,513)	(1,414,123)
Loss attributable to:
Owners of the Company	(872,274)	(1,281,699)	(1,353,608)
Non-controlling interests	(55,752)	(48,814)	(60,515)
Loss for the year	(928,026)	(1,330,513)	(1,414,123)
Items that may be subsequently reclassified to profit or loss
Foreign currency translation differences	69,454	(152,542)	(608,427)
Changes in the fair value of debt instruments measured at fair value through other comprehensive income	5,324	(16)	(39)
Items that will not be subsequently reclassified to profit or loss
Foreign currency translation differences	356,691
Changes in the fair value of equity investments measured at fair value through other comprehensive income		(1,796)
Other comprehensive income, net of tax	431,469	(154,354)	(608,466)
Total comprehensive loss for the year	(496,557)	(1,484,867)	(2,022,589)
Total comprehensive loss attributable to:
Owners of the Company	(440,805)	(1,436,053)	(1,962,074)
Noncontrolling interests	(55,752)	(48,814)	(60,515)
Total comprehensive loss for the year	¥ (496,557)	¥ (1,484,867)	¥ (2,022,589)
Loss per share attributable to owners of the Company (expressed in RMB per share)
Basic	¥ (0.80)	¥ (1.16)	¥ (1.27)
Diluted	(0.80)	(1.16)	(1.27)
Loss per ADS attributable to owners of the Company (expressed in RMB per share)
Basic	(23.90)	(34.69)	(38.14)
Diluted	¥ (23.90)	¥ (34.69)	¥ (38.14)
Technology Solutions,
Statement
Revenue	¥ 4,357,462	¥ 4,098,037	¥ 3,309,113
Virtual Bank Business
Statement
Revenue	¥ 106,540	¥ 34,320	¥ 3,177

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Non-current assets
Property and equipment	¥ 151,401	¥ 244,412
Intangible assets	570,436	687,194
Deferred tax assets	765,959	683,218
Financial assets measured at amortized cost from virtual bank		674
Investments accounted for using the equity method	199,200	185,346
Financial assets measured at fair value through other comprehensive income	821,110	640,501
Contract assets		868
Total non-current assets	2,508,106	2,442,213
Current assets
Trade receivables	940,989	891,174
Contract assets	122,628	227,895
Prepayments and other receivables	1,078,604	752,667
Financial assets measured at amortized cost from virtual bank	44	12,711
Financial assets measured at fair value through other comprehensive income	1,233,431	482,497
Financial assets at fair value through profit or loss	690,627	2,071,653
Derivative financial assets	56,363
Restricted cash and time deposits over three months	343,814	1,060,427
Cash and cash equivalents	1,907,776	1,399,370
Total current assets	6,374,276	6,898,394
Total assets	8,882,382	9,340,607
Equity
Share capital	78	78
Shares held for share incentive scheme	(149,544)	(80,102)
Other reserves	10,953,072	10,512,631
Accumulated losses	(7,510,899)	(6,638,625)
Equity attributable to equity owners of the Company	3,292,707	3,793,982
Non-controlling interests	(14,652)	41,100
Total equity	3,278,055	3,835,082
Non-current liabilities
Trade and other payables	132,833	313,834
Contract liabilities	19,977	19,418
Deferred tax liabilities	5,196	9,861
Total non-current liabilities	158,006	343,113
Current liabilities
Trade and other payables	2,531,273	2,137,099
Payroll and welfare payables	431,258	515,067
Contract liabilities	166,650	153,844
Short-term borrowings	289,062	815,260
Customer deposits	1,929,183	1,350,171
Other financial liabilities from virtual bank	89,327
Derivative financial liabilities	9,568	190,971
Total current liabilities	5,446,321	5,162,412
Total liabilities	5,604,327	5,505,525
Total equity and liabilities	¥ 8,882,382	¥ 9,340,607

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - CNY (¥)	Total	Share capitals	Shares held for share option scheme	Other reserves [Member]	Accumulated losses	Non controlling interest	Total
Ending balance, equity at Dec. 31, 2019	¥ 4,370,112,000	¥ 73,000	¥ (88,280,000)	¥ 8,461,637,000	¥ (4,003,318,000)	¥ 150,429,000	¥ 4,520,541,000
Loss for the year	(1,353,608,000)				(1,353,608,000)	(60,515,000)	(1,414,123,000)
Other comprehensive income, net of tax							(608,466,000)
Foreign currency translation differences	(608,427,000)			(608,427,000)			(608,427,000)
Fair value changes on financial assets measured at fair value through other comprehensive income	(39,000)			(39,000)			(39,000)
Total comprehensive loss for the year	(1,962,074,000)			(608,466,000)	(1,353,608,000)	(60,515,000)	(2,022,589,000)
Transactions with equity holders:
Issuance of ordinary shares	2,697,679,000	5,000		2,697,674,000			2,697,679,000
Value of employee services and business cooperation arrangements	89,652,000			89,652,000			89,652,000
Vesting of shares under Restricted Share Unit Scheme			566,000	(566,000)			(566,000)
Total transactions with equity holders at their capacity as equity holders for the year	2,787,331,000	5,000	566,000	2,786,760,000			2,787,331,000
Ending balance, equity at Dec. 31, 2020	5,195,369,000	78,000	(87,714,000)	10,639,931,000	(5,356,926,000)	89,914,000	5,285,283,000
Loss for the year	(1,281,699,000)				(1,281,699,000)	(48,814,000)	(1,330,513,000)
Other comprehensive income, net of tax							(154,354,000)
Foreign currency translation differences	(152,542,000)			(152,542,000)			(152,542,000)
Fair value changes on financial assets measured at fair value through other comprehensive income	(1,812,000)			(1,812,000)			(1,812,000)
Total comprehensive loss for the year	(1,436,053,000)			(154,354,000)	(1,281,699,000)	(48,814,000)	(1,484,867,000)
Transactions with equity holders:
Value of employee services and business cooperation arrangements	25,409,000			25,409,000			25,409,000
Vesting of shares under Restricted Share Unit Scheme			700,000	(700,000)			(700,000)
- Exercise of shares under Share Option Scheme	9,257,000		6,912,000	2,345,000			9,257,000
Total transactions with equity holders at their capacity as equity holders for the year	34,666,000		7,612,000	27,054,000			34,666,000
Ending balance, equity at Dec. 31, 2021	3,793,982,000	78,000	(80,102,000)	10,512,631,000	(6,638,625,000)	41,100,000	3,835,082,000
Loss for the year	(872,274,000)				(872,274,000)	(55,752,000)	(928,026,000)
Other comprehensive income, net of tax							431,469,000
Foreign currency translation differences	426,145,000			426,145,000			426,145,000
Fair value changes on financial assets measured at fair value through other comprehensive income	5,324,000			5,324,000			5,324,000
Total comprehensive loss for the year	(440,805,000)			431,469,000	(872,274,000)	(55,752,000)	(496,557,000)
Transactions with equity holders:
Value of employee services and business cooperation arrangements	13,361,000			13,361,000			13,361,000
Vesting of shares under Restricted Share Unit Scheme			4,720,000	(4,720,000)			(4,720,000)
- Exercise of shares under Share Option Scheme	1,161,000		830,000	331,000			1,161,000
- Repurchase of shares	(74,992,000)		(74,992,000)				(74,992,000)
Total transactions with equity holders at their capacity as equity holders for the year	(60,470,000)		(69,442,000)	8,972,000			(60,470,000)
Ending balance, equity at Dec. 31, 2022	¥ 3,292,707,000	¥ 78,000	¥ (149,544,000)	¥ 10,953,072,000	¥ (7,510,899,000)	¥ (14,652,000)	¥ 3,278,055,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Cash used in operations	¥ (720,786)	¥ (383,704)	¥ (693,691)
Income tax paid	(25,198)	(20,630)	(10,454)
Net cash used in operating activities	(745,984)	(404,334)	(704,145)
Cash flows from investing activities
Payment for acquisition of subsidiaries, net of cash acquired	0	(11,060)	0
Payments for property and equipment	(22,066)	(45,553)	(17,056)
Payments for intangible assets	(45,877)	(82,463)	(248,124)
Capital injection to investments accounted for using the equity method			(62,040)
Payment for loans to related parties		(3,515)
Payments for financial assets measured at fair value through other comprehensive income	(614,772)	(16,661)	(441,622)
Payments for financial assets at fair value through profit or loss	(2,706,721)	(7,577,741)	(8,433,113)
(Payments)/Proceeds for settlement of derivatives	16,491	(138,634)	(108,716)
Release of restricted cash and time deposits over three months, net	922,818	1,206,607	1,064,813
Proceeds from sales of property and equipment	9,467	1,019	55,534
Receipts of loans to related parties	1,900
Proceeds from sales of financial assets measured at fair value through other comprehensive income	193,495	16,833	820,393
Proceeds from sales of financial assets at fair value through profit or loss	4,092,407	7,019,968	8,647,959
Interest received on financial assets at fair value through profit or loss	26,027	19,635	37,697
Net cash generated from investing activities	1,873,169	388,435	1,315,725
Cash flows from financing activities
Proceeds from issuance of ordinary shares			2,722,445
Proceeds from short-term borrowings	313,000	912,900	2,257,000
Share issue transaction costs			(24,766)
Proceeds from exercise of shares under share incentive scheme	1,161	9,257
Payments for lease liabilities	(76,734)	(96,139)	(100,997)
Repayments of short-term borrowings	(836,429)	(2,376,945)	(3,177,218)
Interest paid	(20,072)	(60,854)	(142,626)
Payments for shares repurchase	(74,992)
Net cash generated from/(used in) financing activities	(694,066)	(1,611,781)	1,533,838
Net increase/(decrease) in cash and cash equivalents	433,119	(1,627,680)	2,145,418
Cash and cash equivalents at the beginning of the year	1,399,370	3,055,194	1,077,875
Effects of exchange rate changes on cash and cash equivalents	75,287	(28,144)	(168,099)
Cash and cash equivalents at the end of year	¥ 1,907,776	¥ 1,399,370	¥ 3,055,194

General information and basis o

General information and basis of presentation	12 Months Ended
	Dec. 31, 2022
General information and basis of presentation
General information and basis of presentation	1 General information and basis of presentation 1.1 General information OneConnect Financial Technology Co., Ltd. (the “Company”) was incorporated in the Cayman Islands on October 30, 2017 as an exempted company with limited liability under the Companies Law (Cap. 22, Law 3 of 1961 as consolidated and revised) of the Cayman Islands. The address of the Company’s registered office is PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands. The Company completed its initial public offering (“IPO”) on December 13, 2019 on the New York Stock Exchange. The Company has listed by way of introduction its ordinary shares on the Main Board of the Stock Exchange of Hong Kong Limited on July 4, 2022. On November 30, 2022, the Company announced its plans to change the ratio of its American Depositary Share ( “ ” “ ” The Company, its subsidiaries, its controlled structured entities (“Structured Entities”, “Variable Interest Entities” or “VIEs”) and their subsidiaries (“Subsidiaries of VIEs”) are collectively referred to as the “Group”. The Group is principally engaged in providing cloud-platform-based Fintech solutions, online information service and operating support service to financial institutions (the “Listing Business”) mainly in the People’s Republic of China (the “PRC”). The Company does not conduct any substantive operations of its own but conducts its primary business operations through its subsidiaries, VIEs and subsidiaries of VIEs in the PRC. Further details of the VIEs are set out in Note 1.2 below. ​ 1 General information and basis of presentation (Continued) 1.2 Organization and principal activities As at December 31, 2022, the Company had direct or indirect interests in the following major subsidiaries including consolidated structured entities. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity interest held ​ ​ ​ ​ Place and date of ​ Principal activities ​ Issued and ​ by the Group ​ ​ ​ ​ incorporation / ​ and place of ​ paid-in capital/ ​ As at December 31 ​ ​ Company name establishment operations Registered capital 2021 2022 Note Subsidiaries Jin Tai Yuan Limited ​ British Virgin Islands / October 27, 2017 ​ Investment holding, BVI ​ USD747,940,498 ​ 100 % 100 % ​ Jin Cheng Long Limited Hong Kong / October 30, 2017 Investment holding, Hong Kong, the PRC ​ USD747,940,498 ​ 100 % 100 % ​ OneConnect Financial ​ Hong Kong / March 15, 2018 Software and technology service, ​ USD1 ​ 100 % 100 % ​ OneConnect Financial Singapore / March 26, 2018 Software and technology service, ​ SGD47,900,000 ​ 100 % 100 % ​ PT OneConnect Financial Indonesia/December 04, 2018 Software and technology service, ​ IDR10,000,000,000 ​ 100 % 100 % ​ Ping An OneConnect Bank (Hong Kong) Limited (“OneConnect Bank”) ​ Hong Kong /December 07, 2018 ​ Banking service. Hong Kong, the PRC. ​ USD38,216,561 and HKD 1,200,000,000 ​ 100 % 100 % ​ Shenzhen OneConnect Technology Services Co., Ltd (“Shenzhen OneConnect Technology”) ​ the PRC / January 04, 2018 ​ Technology promotion and computer application services, Shenzhen, the PRC ​ RMB4,903,181,996/RMB4,960,000,000 ​ 100 % 100 % ​ Beijing Vantage Point Technology Co., Ltd. (“Vantage Point Technology”) the PRC / July 18, 2008 Software and technology service, information transmission. Beijing, the PRC. ​ RMB13,333,529 ​ 51.67 % 51.67 % (i) Shenzhen OneConnect Information Technology Service Company Limited (“Shenzhen OneConnect Information Technology”) ​ the PRC /January 31, 2019 ​ Software and technology service, information transmission. Shenzhen, the PRC. ​ RMB100,000,000 ​ 51 % 51 % ​ Beijing BER Technology Company Ltd. (“BER Technology”) the PRC /March 30,2006 Software and technology service, information transmission. Shenzhen, the PRC ​ RMB22,950,000 ​ 80 % 80 % (i) Zhang Tong Shun (Guangzhou) Technology Co., Ltd. (“Zhang Tong Shun”) ​ the PRC /May 9, 2019 ​ Information technology advisory services, Guangzhou, the PRC ​ RMB10,000,000 ​ 100 % 100 % (i) ​ ​ 1 General information and basis of presentation (Continued) 1.2 Organization and principal activities (Continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity interest held ​ ​ ​ ​ Place and date of ​ ​ ​ Issued and ​ by the Group ​ ​ ​ ​ incorporation / ​ Principal activities and ​ paid-in capital/ ​ As at December 31 ​ ​ Company name establishment place of operations Registered capital 2021 2022 Note VIEs OneConnect Smart Technology Co., Ltd. (Shenzhen) (“Shenzhen OneConnect”) ​ the PRC / September 15, 2017 ​ Software and technology service, information transmission. Shenzhen, the PRC. ​ RMB1,200,000,000 ​ 100 % 100 % ​ Shenzhen E-Commerce Safety Certificates Administration Co., Ltd. (“Shenzhen CA”) ​ the PRC /August 11, 2000 ​ E-commerce security certificate administration, Shenzhen, the PRC ​ RMB543,500,000 ​ 98.9 % 98.9 % (i) Subsidiaries of the VIEs Shanghai OneConnect Financial Technology Co., Ltd. (“Shanghai OneConnect”) * ​ the PRC / December 29, 2015 ​ Software and technology service, asset management and consulting. Shanghai, the PRC. ​ RMB1,200,000,000 ​ 100 % 100 % ​ Shenzhen Kechuang Insurance the PRC / August 27, 2001 Insurance survey and loss adjustment. ​ RMB4,000,000 ​ 100 % 100 % ​ Shenzhen OneConnect Chuangpei Technology Co., Ltd. (“Chuangpei”) ​ the PRC / June 1, 2016 ​ Software and technology service, information transmission. Shenzhen, the PRC. ​ RMB10,000,000 ​ 100 % 100 % ​ Zhuhai Yirongtong Asset Management Co., Ltd. (“Yirongtong”) ​ the PRC / June 21, 2016 ​ Asset management and consulting. Zhuhai, the PRC ​ RMB12,000,000 ​ 100 % 100 % ​ Ping An OneConnect Cloud Technology Co., Ltd. (“OneConnect Cloud Technology”) ​ the PRC / June 27, 2016 ​ Software and technology service, information transmission. Shenzhen, the PRC. ​ RMB500,000,000 ​ 100 % 100 % ​ * Subsidiaries of Shenzhen OneConnect Note: (i) The subsidiaries were acquired by the Group through business combination. ​ 1 General information and basis of presentation (Continued) 1.2 Organization and principal activities (Continued) ​ PRC laws and regulations prohibit or restrict foreign ownership of companies that provide internet-based business, which include activities and services provided by the Group. The Group operates its business operations in the PRC through a series of contractual arrangements entered into among a wholly-owned subsidiary of the Company and VIEs that legally owned by equity holders (“Nominee Shareholders”) authorized by the Group (collectively, “Contractual Arrangements”). The Contractual Arrangements include Exclusive Equity Purchase Option Agreement, Exclusive Business Cooperation Agreement, Exclusive Asset Option Agreement, Equity Pledge Agreement, Shareholder Voting Proxy Agreement, Letters of Undertakings and Spousal Consent Letters. Under the Contractual Arrangements, the Company has the power to control the management, and financial and operating policies of the VIEs, has exposure or rights to variable returns from its involvement with the VIEs, and has the ability to use its power over the VIEs to affect the amount of the returns. As a result, all these VIEs are accounted for as consolidated structured entities of the Company and their financial statements have also been consolidated by the Company.The principal terms of the Contractual Arrangements are further described below: (a) Contractual agreements with Shenzhen OneConnect - Exclusive Equity Purchase Option Agreement Pursuant to the exclusive equity purchase option agreement entered into between Shenzhen OneConnect Technology, Shenzhen OneConnect, the direct shareholders of Shenzhen OneConnect, and the shareholders of the direct shareholders of Shenzhen OneConnect, (each refer to as the “Indirect Shareholder”, together with the direct shareholders of Shenzhen OneConnect, “the Shenzhen OneConnect Shareholders”) (the “Exclusive Equity Purchase Option Agreement”), Shenzhen OneConnect Technology has the irrevocable and exclusive right to purchase, or to designate one or more persons to purchase, from Shenzhen OneConnect Shareholders all or any part of their equity interests in Shenzhen OneConnect at any time and from time to time in Shenzhen OneConnect Technology’s absolute discretion to the extent permitted by PRC laws. Unless terminated upon the parties’ agreement, this agreement will remain effective for ten years, and will be automatically renewed for another five years, unless Shenzhen OneConnect Technology objects to the renewal in writing thirty days prior this agreement’s expiry. - Exclusive Business Cooperation Agreement Pursuant to the exclusive business cooperation agreement entered into between Shenzhen OneConnect Technology and Shenzhen OneConnect, Shenzhen OneConnect agreed to engage Shenzhen OneConnect Technology as its exclusive provider of business support, technical and consulting services. In exchange for these services, Shenzhen OneConnect shall pay a service fee, which is equal to Shenzhen OneConnect’s profit before tax, after deducting any accumulated losses of Shenzhen OneConnect and its subsidiaries from the preceding fiscal year, working capital, costs, expenses, tax and other statutory contribution in relation to the respective fiscal year. The service fee shall be paid annually and shall be wired to the designated bank account of Shenzhen OneConnect Technology upon issuance of invoice by Shenzhen OneConnect Technology. The effective term of this agreement is the same as that of the Exclusive Equity Purchase Option Agreement described above. - Exclusive Asset Option Agreement Pursuant to the exclusive asset option agreement entered into between Shenzhen OneConnect Technology, Shenzhen OneConnect and the Shenzhen OneConnect Shareholders (the “Exclusive Asset Option Agreement”), Shenzhen OneConnect Technology has the irrevocable and exclusive right to purchase, or to designate one or more persons to purchase, from Shenzhen OneConnect all or any part of its assets at any time at Shenzhen OneConnect Technology’s absolute discretion and to the extent permitted by PRC laws. The consideration shall be the higher of (a) a nominal price or (b) the lowest price as permitted under applicable PRC laws.The effective term of this agreement is the same as that of the Exclusive Equity Purchase Option Agreement described above. ​ 1 General information and basis of presentation (Continued) 1.2 Organization and principal activities (Continued) (a) Contractual agreements with Shenzhen OneConnect (Continued) - Equity Pledge Agreement Pursuant to the equity pledge agreement entered into between Shenzhen OneConnect Technology, Shenzhen OneConnect and the Shenzhen OneConnect Shareholders (the “Equity Pledge Agreement”), the Registered Shareholders agreed to pledge as first charge all of their equity interests in Shenzhen OneConnect to Shenzhen OneConnect Technology as collateral security for any and all of the guaranteed debt under the Contractual Arrangements and to secure the performance of their obligations under the Contractual Arrangements. During the pledge period, Shenzhen OneConnect Technology is entitled to receive any dividends or other distributable benefits arising from the equity. The pledge in favor of Shenzhen OneConnect Technology takes effect upon the completion of registration with the relevant administration for industry and commerce of China and shall remain valid until Shenzhen OneConnect Shareholders and Shenzhen OneConnect have discharged all their obligations and fully paid all the amounts payable under the Contractual Arrangements. - Shareholder Voting Proxy Agreement Shenzhen OneConnect Technology, Shenzhen OneConnect, the Shenzhen OneConnect Shareholders and the subsidiaries of Shenzhen OneConnect entered into a shareholder voting proxy agreement. Pursuant to this agreement, each shareholder of Shenzhen OneConnect and its subsidiaries irrevocably authorizes the persons designated by Shenzhen OneConnect Technology to act on its behalf to exercise all of such shareholder’s voting and other rights associated with the shareholder’s equity interest in Shenzhen OneConnect and the subsidiaries of Shenzhen OneConnect, such as the right to appoint or designate directors, supervisors and officers, as well as the right to sell, transfer, pledge or dispose of all or any portion of the shares held by such shareholder. The effective term of this agreement is the same as that of the Exclusive Equity Purchase Option Agreement described above. - Letters of Undertakings Each Indirect Shareholder signed a letter of undertakings to the Company. Under these letters, the signing Indirect Shareholder has separately irrevocably undertaken, in the event of his or her death or loss of capacity or any other events that could possibly affect his or her capacity to fulfil his or her obligations under the contractual arrangement of Shenzhen OneConnect, that he or she will unconditionally transfer his or her equity interest in Shenzhen OneConnect to any person designated by Shenzhen OneConnect Technology and the transferee will be deemed to be a party to the contractual arrangements and will assume all of his or her rights and obligations as such under the contractual arrangements. Each signing Indirect Shareholder represents that his or her spouse has no ownership interest in his or her equity interests in Shenzhen OneConnect. Each signing Indirect Shareholder further represents that in any circumstances, he or she will not, directly or indirectly, commit any conduct, measure, action or omission that is contrary to the purpose and intention of the contractual arrangements, that leads or may lead to any conflict of interest between Shenzhen OneConnect and OneConnect Financial Technology Co., Ltd. and/or its subsidiaries, and that if, during his or her performance of the contractual arrangements, there is a conflict of interest between the signing Indirect Shareholder and OneConnect Financial Technology Co., Ltd. and/or its subsidiaries, the signing Indirect Shareholder will protect the legal interests of Shenzhen OneConnect Technology under the contractual arrangements and follow the instructions of the Company. 1 General information and basis of presentation (Continued) 1.2 Organization and principal activities (Continued) (a) Contractual agreements with Shenzhen OneConnect (Continued) - Spousal Consent Letters Under the spousal consent letters, each signing spouse respectively agreed that he or she was aware of the equity interest beneficially owned by his or her spouse in Shenzhen OneConnect and the relevant Contractual Arrangements in connection with such equity interest. The signing spouse unconditionally and irrevocably confirmed that he or she does not have any equity interest in Shenzhen OneConnect and committed not to impose any adverse assertions upon his or her spouse’s respective equity interest. Each signing spouse further confirmed that such equity interest may be disposed of pursuant to the relevant Contractual Arrangements, and committed that he or she will take all necessary measures for the performance of those arrangements. (b) Contractual agreements with Shenzhen CA Shenzhen CA and certain of its shareholders holding in the aggregate 98.9% of the equity interest in Shenzhen CA entered into a series of contractual agreements with Zhang Tong Shun. These agreements contain terms substantially similar to the contractual arrangements among Shenzhen OneConnect, Shenzhen OneConnect Shareholders and Shenzhen OneConnect Technology described above. (c) Risks in relation to the VIEs In the opinion of the Company’s management, the Contractual Arrangements discussed above have resulted in the Company, Shenzhen OneConnect Technology and Zhang Tong Shun having the power to direct activities that most significantly impact the VIEs, including appointing key management, setting up operating policies, exerting financial controls and transferring profit or assets out of the VIEs at its discretion. The Company has the power to direct activities of the VIEs and can have assets transferred out of the VIEs under its control. Therefore, the Company considers that there is no asset in any of the VIEs that can be used only to settle obligations of the VIEs, except for registered capital, capital reserve and PRC statutory reserves of the VIEs totalling RMB1,753 million and RMB1,774 million as of December 31, 2021 and 2022, respectively. Currently there is no contractual arrangement that could require the Company to provide additional financial support to the VIEs. As the Company is conducting its Internet-related business mainly through the VIEs, the Company may provide such support on a discretional basis in the future, which could expose the Company to a loss. As the VIEs organized in the PRC were established as limited liability companies under PRC law, their creditors do not have recourse to the general credit of Shenzhen OneConnect Technology and Zhang Tong Shun for the liabilities of the VIEs, and Shenzhen OneConnect Technology and Zhang Tong Shun do not have the obligation to assume the liabilities of these VIEs. In the opinion of the Company’s management, the contractual arrangements among its subsidiaries, the VIE and their respective Nominee Shareholders are in compliance with current PRC laws and are legally binding and enforceable. However, uncertainties in the interpretation and enforcement of the PRC laws, regulations and policies could limit the Company’s ability to enforce these contractual arrangements. In addition, the enforceability of the contractual agreements between the Company, the VIE and its shareholders depends on whether the Company’s shareholders or their PRC holding entities will fulfil these contractual agreements. As a result, the Company may be unable to consolidate the VIE and VIE’ subsidiaries in the consolidated financial statements. On March 15, 2019, the Foreign Investment Law was formally passed by the thirteenth National People’s Congress and it became effective on January 1, 2020. The Foreign Investment Law replaced the Law on Sino Foreign Equity Joint Ventures, the Law on Sino Foreign Cooperative Joint Ventures and the Law on Foreign Capital Enterprises and became the legal foundation for foreign investment in the PRC. The Implementation Regulations for the Foreign Investment Law was promulgated by the State Council on December 26, 2019, became effective on January 1, 2020, and replaced the corresponding implementation rules of the Law on Sino-Foreign Equity Joint Ventures, the Law on Sino-Foreign Cooperative Joint Ventures and the Law on Foreign-Capital Enterprises. 1 General information and basis of presentation (Continued) 1.2 Organization and principal activities (Continued) (c) Risks in relation to the VIEs (Continued) The Foreign Investment Law stipulates certain forms of foreign investment. However, the Foreign Investment Law does not explicitly stipulate contractual arrangements such as those we rely on as a form of foreign investment. Notwithstanding the above, the Foreign Investment Law stipulates that foreign investment includes “foreign investors investing through any other methods under laws, administrative regulations or provisions prescribed by the State Council.’’ Future laws, administrative regulations or provisions prescribed by the State Council may possibly regard Contractual Arrangements as a form of foreign investment. If this happens, it is uncertain whether the Contractual Arrangements with the VIE and its shareholders would be recognized as foreign investment, or whether the Contractual Arrangements would be deemed to be in violation of the foreign investment access requirements. As well as the uncertainty on how the Contractual Arrangements will be handled, there is substantial uncertainty regarding the interpretation and the implementation of the Foreign Investment Law. The relevant government authorities have broad discretion in interpreting the law. Therefore, there is no guarantee that the Contractual Arrangements, the business of the VIEs and financial conditions of the Company will not be materially and adversely affected. The Company’s ability to control VIEs also depends on rights provided to Shenzhen OneConnect Technology and Zhang Tong Shun, under the Shareholder Voting Proxy Agreement, to vote on all matters requiring shareholder approval. As noted above, the Company believes Shareholder Voting Proxy Agreement is legally enforceable, but they may not be as effective as direct equity ownership. In addition, if the corporate structure of the Group or the Contractual Arrangements between the Shenzhen OneConnect Technology, and Zhang Tong Shun, the VIEs and their respective shareholders and subsidiaries were found to be in violation of any existing PRC laws and regulations, the relevant PRC regulatory authorities could: ● revoke the Group’s business and operating licenses; ● require the Group to discontinue or restrict its operations; ● impose fines or confiscate any of the Group’s income that they deem to have been obtained through illegal operations; ● require the Group to restructure the ownership structure or operations, re-apply for the necessary licenses or relocate its businesses, staff and assets; ● impose additional conditions or requirements with which the Group may not be able to comply; or ● restrict or prohibit the Group’s use of the proceeds from public offerings or other of the Group’s financing activities to finance the business and operations of the VIEs and their subsidiaries; or ● take other regulatory or enforcement actions against the Group that could be harmful to the Group’s business. The imposition of any of these restrictions or actions may result in a material adverse effect on the Company’s ability to conduct its business. In addition, if the imposition of any of these restrictions causes the Company to lose the right to direct the activities of the VIEs or the right to receive their economic benefits, the Company would no longer be able to consolidate the financial statements of the VIEs. In the opinion of management, the likelihood of losing the benefits in respect of the Company’s current ownership structure or the contractual arrangements with its VIEs is remote. 1 General information and basis of presentation (Continued) 1.2 Organization and principal activities (Continued) (c) Risks in relation to the VIEs (Continued) The following are major financial statements amounts and balances of the Group’s VIEs and subsidiaries of VIEs (i.e. Shenzhen OneConnect, Shenzhen CA and their subsidiaries) of December 31, 2021 and 2022 and for the years ended December 31, 2020, 2021 and 2022. ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Total current assets ​ 3,820,222 3,865,127 Total non‑current assets ​ 996,872 906,455 Total assets ​ 4,817,094 4,771,582 Total current liabilities ​ 7,427,980 7,645,984 Total non‑current liabilities ​ 97,509 27,902 Total liabilities ​ 7,525,489 7,673,886 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ ​ 2020 ​ 2021 ​ 2022 ​ RMB’000 RMB’000 RMB’000 Total revenue 3,042,997 ​ 3,723,306 4,064,707 Net loss (989,704) ​ (708,699) (195,819) Net cash used in operating activities (443,276) ​ (439,174) (618,574) Net cash generated from investing activities 1,660,300 ​ 3,633 918,498 Net cash generated (used in)/from financing activities (887,374) ​ 108,564 368,778 Net increase/(decrease) in cash and cash equivalents 329,650 ​ (326,977) 668,702 Cash and cash equivalents, beginning of the year 234,877 ​ 564,527 237,550 Cash and cash equivalents, end of the year 564,527 ​ 237,550 906,252 ​ The above financial statements amounts and balances have included intercompany transactions which have been eliminated on the Company’s consolidated financial statements. As of December 31, 2021 and 2022, the total assets of Group’s VIEs were mainly consisting of cash and cash equivalents, trade receivable, contract assets, prepayments and other receivables, financial assets at fair value through profit or loss, property and equipment, intangible assets and deferred tax assets. As of December 31, 2021 and 2022, the total liabilities of VIEs were mainly consisting of trade and other payables, payroll and welfare payables, contract liabilities and short-term borrowings.

Summary of significant accounti

Summary of significant accounting policies	12 Months Ended
	Dec. 31, 2022
Summary of significant accounting policies
Summary of significant accounting policies	2 Summary of significant accounting policies The principal accounting policies applied in the preparation of the consolidated financial statements are set out below. These policies have been consistently applied to all the years presented unless otherwise stated. 2.1 Basis of preparation In January 2018, the Company acquired control of the Listing Business which was carried out through a domestic company and its subsidiaries (the ‘PRC Operating Entities’) through a series of transactions (the ‘Recapitalization’). The Company and those companies newly set up during the Recapitalization have not been involved in any other business prior to the Recapitalization and their operations do not meet the definition of a business. The Recapitalization is merely a recapitalization of the Listing Business with no change in management of such business and the ultimate owners of the Listing Business remain the same. Accordingly, the Group resulting from the Recapitalization is regarded as a continuation of the Listing Business conducted under PRC Operating Entities. The consolidated financial statements of the Group have been prepared and presented using the carrying amounts of the income, expenses, assets and liabilities of the consolidated financial statements of PRC Operating Entities for all periods presented. The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (“IFRSs”) issued by the International Accounting Standards Board (“IASB”). The consolidated financial statements have been prepared under the historical cost convention, as modified by the revaluation of financial assets measured at fair value through other comprehensive income, financial assets at fair value through profit or loss and derivative financial assets and liabilities, which are carried at fair value and subsequent changes are recognized in the statement of comprehensive income. The preparation of the consolidated financial statements in conformity with IFRSs requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 3 below. The Group has consistently adopted IFRS 9, IFRS15 and IFRS16 in the years ended December 31, 2021 and 2022. Recent accounting pronouncements (a) New and amended standards and interpretations adopted by the Group The Group has applied the following standards and amendments for the first time for their annual reporting period commencing January 1, 2022: ● Amendments to IAS 16 - Property, Plant and Equipment: Proceeds before intended use ● Amendments to IFRS 3 - Reference to the Conceptual Framework ● Amendments to IAS 37 - Onerous Contracts – Cost of Fulfilling a Contract ● Annual Improvements to IFRS Standards 2018 – 2020 The amendments listed above did not have material impact on the amounts recognized in prior periods and are not expected to significantly affect the current or future periods. 2 Summary of significant accounting policies (Continued) 2.1 Basis of preparation (Continued) Recent accounting pronouncements (Continued) (b) New standards and amendments to standards and interpretations not yet adopted Several new standards and amendments to standards and interpretations have been issued but not effective during the year 2022 and have not been early adopted by the Group in preparing these consolidated financial statements: ​ ​ ​ Effective for annual periods beginning on or after ​ ​ ​ ​ IFRS 17 - Insurance Contracts ​ 1 January 2023 ​ Amendments to IAS 1 and IFRS Practice Statement 2 - Disclosure of Accounting Policies ​ 1 January 2023 ​ Amendments to IAS 8 - Definition of accounting estimates ​ 1 January 2023 ​ Amendments to IAS 12 - Deferred tax related to assets and liabilities arising from a single transaction ​ 1 January 2023 ​ Amendment to IFRS 16 – Leases on sale and leaseback ​ 1 January 2024 ​ Amendments to IAS 1 - Classification of Liabilities as Current or Non-current ​ 1 January 2024 ​ Amendments to IFRS 10 and IAS 28 - Sale or Contribution of Assets between an Investor and its Associate or Joint Venture ​ To be determined ​ ​ The above new standards, new interpretations and amended standards are not expected to have a material impact on the consolidated financial statements of the Group. 2.2 Principles of consolidation and equity accounting 2.2.1 Subsidiaries Subsidiaries are all entities (including structured entities or VIEs as stated in Note 1.2 above) over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases. Intercompany transactions, balances and unrealized gains on transactions between group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statements of comprehensive income, consolidated statement of changes in equity and consolidated balance sheet, respectively. For the parent company’s separate financial statements, investments in subsidiaries are accounted for using the equity method. ​ 2 Summary of significant accounting policies (Continued) 2.2 Principles of consolidation and equity accounting (Continued) 2.2.2 Investments accounted for using the equity method (i) Associate An associate is an entity over which the Group has significant influence but not control, generally accompanying a shareholding of between 20% and 50% of the voting rights. Significant influence could be demonstrated for an investment of less than 20%, for example, by representation on the board of directors or equivalent governing body of the investee. Investments in associates are accounted for using the equity method of accounting. (ii) Joint ventures Investments in joint arrangements are classified as either joint operations or joint ventures. The classification depends on the contractual rights and obligations of each investor, rather than the legal structure of the joint arrangement. Investments in joint ventures are accounted for using the equity method. Under the equity method, the investment is initially recognized at cost, and the carrying amount is increased or decreased to recognize the investor’s share of the profit or loss of the investee after the date of acquisition. The Group’s investment accounted for using the equity method include goodwill identified on acquisition. Upon the acquisition of the ownership interest in an associate or a joint venture, any difference between the cost of the investment accounted for using the equity method and the Group’s share of the net fair value of the investment’s identifiable assets and liabilities is accounted for as goodwill. If the ownership interest in an associate or a joint venture is reduced but significant influence is retained, only a proportionate share of the amounts previously recognized in other comprehensive income is reclassified to profit or loss where appropriate. The Group’s share of post-acquisition profit or loss is recognized in the consolidated statement of comprehensive income, and its share of post-acquisition movements in other comprehensive income is recognized in other comprehensive income with a corresponding adjustment to the carrying amount of the investment. When the Group’s share of losses in investment accounted for using the equity method equals or exceeds its interest in the investment, including any other unsecured receivables, the Group does not recognize further losses, unless it has incurred legal or constructive obligations or made payments on behalf of the investment. The Group determines at each reporting date whether there is any objective evidence that the investment accounted for using the equity method is impaired. If this is the case, the Group calculates the amount of impairment as the difference between the recoverable amount of the investment and its carrying value and recognizes the amount adjacent to “share of loss of associate and joint venture” in the consolidated statement of comprehensive income. Profits and losses resulting from upstream and downstream transactions between the Group and its investment accounted for using the equity method are recognized in the Group’s financial statements only to the extent of unrelated investor’s interests in the investment. Unrealized losses are eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been changed where necessary to ensure consistency with the policies adopted by the Group. Gain or losses on dilution of equity interest in the investment accounted for using the equity method are recognized in the consolidated statement of comprehensive income. ​ 2 Summary of significant accounting policies (Continued) 2.3 Structured Entities A structured entity is an entity that has been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity, such as when any voting rights relate to administrative tasks only, and the relevant activities are directed by means of contractual or related arrangements. The Group determines whether it is an agent or a principal in relation to those structured entities in which the Group acts as an asset manager on management’s judgement. If an asset manager is agent, it acts primarily on behalf of others and so does not control the structured entity. It may be principal if it acts primarily for itself, and therefore controls the structured entity. The unconsolidated structured entities in which the Group acts as an asset manager is set out in Note 36. 2.4 Business combination Except for business combinations under common control, the Group applies the acquisition method to account for business combinations. The consideration transferred for the acquisition of a subsidiary is the fair values of the assets transferred, the liabilities incurred to the former owners of the acquiree and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The Group recognizes any non-controlling interest in the acquiree on an acquisition-by-acquisition basis. Non-controlling interests in the acquiree that are present ownership interests and entitle their holders to a proportionate share of the entity’s net assets in the event of liquidation are measured at either fair value or the present ownership interests’ proportionate share in the recognized amounts of the acquiree’s identifiable net assets. All other components of non-controlling interests are measured at their acquisition date fair value, unless another measurement basis is required by IFRS. Acquisition-related costs are expensed as incurred. If the business combination is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest in the acquiree is re-measured to fair value at the acquisition date; any gains or losses arising from such re-measurement are recognized in profit or loss. Any contingent consideration to be transferred by the Group is recognized at fair value at the acquisition date. Subsequent changes to the fair value of the contingent consideration that is deemed to be an asset or liability is recognized in profit or loss. Contingent consideration that is classified as equity is not remeasured, and its subsequent settlement is accounted for within equity. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition-date fair value of any previous equity interest in the acquiree over the fair value of the identifiable net assets acquired is recorded as goodwill. If the total of consideration transferred, non-controlling interest recognized and previously held interest measured is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is recognized directly in the income statement. Intra-group transactions, balances and unrealized gains on transactions between group companies are eliminated. Unrealized losses are also eliminated. When necessary, amounts reported by subsidiaries have been adjusted to conform with the Group’s accounting policies. ​ 2 Summary of significant accounting policies (Continued) 2.5 Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision makers (“CODM”), who are responsible for allocating resources and assessing performance of the operating segments and making strategic decisions. The Group’s chief operating decision makers have been identified as the executive directors of the Company, who review the consolidated results of operations when making decisions about allocating resources and assessing performance of the Group. 2.6 Foreign currency translation Functional and presentation currency Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The functional currency of the Company is the United States dollar (“US$”). RMB is the functional currency of the subsidiaries in PRC. As the major operations of the Group are within the PRC, the directors of the Company have chosen to present the Group’s financial statements in RMB (the presentation currency). Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates are generally recognized in the consolidated statements of comprehensive income. Foreign exchange gains and losses that relate to borrowings are presented in the consolidated statements of comprehensive income, within finance costs. All other foreign exchange gains and losses are presented in the consolidated statements of comprehensive income on a net basis within other income, gains or loss - net. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. Translation differences on assets and liabilities carried at fair value are reported as part of the fair value gain or loss. For example, translation differences on non-monetary assets and liabilities such as equities held at fair value through profit or loss are recognized in profit or loss as part of the fair value gain or loss and translation differences on non-monetary assets such as equities classified as fair value through other comprehensive income are recognized in other comprehensive income. Group companies The results and financial position of foreign operations (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: ● assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet ● income and expenses for each statement of profit or loss and statement of comprehensive income are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions), and ● all resulting exchange differences are recognized in other comprehensive income. ​ 2 Summary of significant accounting policies (Continued) 2.6 Foreign currency translation (Continued) On consolidation, exchange differences arising from the translation of any net investment in foreign entities, and of borrowings and other financial instruments designated as hedges of such investments, are recognized in other comprehensive income. When a foreign operation is sold or any borrowings forming part of the net investment are repaid, the associated exchange differences are reclassified to profit or loss, as part of the gain or loss on sale. 2.7 Property and equipment Property and equipment are stated at historical cost less depreciation. Historical cost includes expenditure that is directly attribute to the acquisition of the items. Depreciation on property and equipment is calculated using the straight-line method to allocate their cost to their residual values over their estimated useful lives or, in case of a leasehold improvements, the shorter lease term as follows: ​ ​ ​ ​ Category Expected useful life Office and telecommunication equipment 3-5 years Leasehold improvements 5 years ​ The assets’ residual values and useful lives are reviewed, and adjusted quarterly if appropriate, at the end of each reporting period. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognized within ‘Other income, gains or loss - net’ in the consolidated statements of comprehensive income. 2.8 Intangible assets The Group’s intangible assets include application and platforms, purchased software, development costs in progress, goodwill, business licenses and others. Intangible assets can be recognized only when future economic benefits expected to be obtained from the use of the item will flow into the Group and its cost can be measured reliably. Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is the fair value as at the date of acquisition. Costs associated with maintaining application and platform are recognized as an expense as incurred. Development costs that are directly attributable to the development and testing of identifiable application and platform controlled by the Group are recognized as intangible assets when the following criteria are met: ● it is technically feasible to complete the application and platform so that it will be available for use ● management intends to complete the application and platform and use or sell it ● there is an ability to use or sell ● it can be demonstrated how the application and platform will generate probable future economic benefits ● adequate technical, financial and other resources to complete the development and to use or sell the application and platform are available, and ● the expenditure attributable to the application and platform during its development can be reliably measured. 2 Summary of significant accounting policies (Continued) 2.8 Intangible assets (Continued) Directly attributable costs that are capitalized include employee costs, technology service fee and an appropriate portion of relevant overheads. Research expenditure and development expenditure that do not meet the criteria above are recognized as an expense as incurred. Development costs previously recognized as an expense are not recognized as an asset in a subsequent period. Capitalized development costs are recorded as intangible assets and amortized from the point at which the asset is ready for use. The useful lives of intangible assets are assessed by the period of bringing economic benefits for the Group. The useful lives of intangible assets excluding development cost in progress are set as follows: ​ ​ ​ ​ ​ Expected useful life · 3 ‑ 10 years · 3 ‑ 10 years · 3 ‑ 5 years ​ Intangible assets with finite lives are subsequently amortized on the straight-line basis over the useful economic life. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed, and adjusted if appropriate, at least at each year end. Intangible assets with indefinite useful lives are not amortized, but are subject to annual impairment assessment. 2.9 Impairment of non-financial assets The Group assesses at each reporting date whether there is an indication that a non-financial asset other than deferred tax assets may be impaired. If any such indication exists, or when annual impairment testing for a non-financial asset is required, the Group makes an estimate of the asset’s recoverable amount. A non-financial asset’s recoverable amount is the higher of the asset’s or cash-generating unit’s fair value less costs to sell and its value in use 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. Where the carrying amount of a non-financial asset exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In assessing value in use, the estimated future cash flows are discounted to their present value using discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs to disposal, an appropriate valuation model is used. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded subsidiaries or other available fair value indicators. ​ 2 Summary of significant accounting policies (Continued) 2.9 Impairment of non-financial assets (Continued) For non-financial assets other than goodwill, an assessment is made at each reporting date as to whether there is any indication that previously recognized impairment losses may no longer exist or may have decreased. If such an indication exists, the Group makes an estimate of the recoverable amount. A previously recognized impairment loss is reversed only if there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognized. If that is the case, the carrying amount of the asset is increased to its recoverable amount. That increased amount cannot exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior years. Such a reversal is recognized in the statement of comprehensive income. Goodwill is reviewed for impairment, annually or more frequently if events or changes in circumstances indicate that the carrying value may be impaired. Impairment is determined by assessing the recoverable amount of the cash-generating unit (or group of cash-generating units), to which the goodwill relates. The recoverable amount is the higher of its fair value less costs of disposal and its value-in-use, determined on an individual asset (or cash-generating unit) basis, unless the individual asset (or cash-generating unit) does not generate cash flows that are largely independent from those of other assets or groups of assets (or groups of cash-generating units). Impairment losses recognized in relation to goodwill are not reversed for subsequent increases in its recoverable amount. Intangible assets with indefinite useful lives and development costs in progress are tested for impairment annually at each year end either individually or at the cash-generating unit level, as appropriate. 2.10 Financial assets Classification The Group classifies its financial assets in the following measurement categories: ● those to be measured subsequently at fair value (either through other comprehensive income, or through profit or loss), and ● those to be measured at amortized cost. The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. For assets measured at fair value, gains and losses will either be recorded in profit or loss or other comprehensive income. For investments in debt instruments, this will depend on the business model in which the investment is held and the cash flow characteristics of the asset. For investments in equity instruments, this will depend on whether the Group has made an irrevocable election at the time of initial recognition to account for the equity investment measured at fair value through other comprehensive income. The Group reclassifies debt investments when and only when its business model for managing those assets changes. Recognition and measurement At initial recognition, the Group 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 that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in the consolidated statement of comprehensive income. ​ 2 Summary of significant accounting policies (Continued) 2.10 Financial assets (Continued) Recognition and measurement (Continued) (a) Debt instruments Subsequent measurement of debt instruments depends on the Group’s business model for managing the asset and the cash flow characteristics of the asset. There are three measurement categories into which the Group classifies its debt instruments: ● Amortized cost: Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortized cost. Interest income from these financial assets is included in finance income using the effective interest rate method. Any gain or loss arising on derecognition is recognized directly in profit or loss and presented in other income, gains or loss together with foreign exchange gains and losses. Impairment losses are presented in the consolidated statements of comprehensive income. ● Fair value through other comprehensive income (“FVOCI”): Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest, are measured at FVOCI. Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or losses, interest income and foreign exchange gains and losses which are recognized in profit or loss. When the financial asset is derecognized, the cumulative gain or loss previously recognized in OCI is reclassified from equity to profit or loss and recognized in other income, gains or loss. Interest income from these financial assets is included in other gain using the effective interest rate method. Foreign exchange gains and losses are presented in other income, gains or loss and impairment expenses are presented in the statement of profit or loss. ● Fair value through profit or loss (“FVPL”): Assets that do not meet the criteria for amortized cost or FVOCI are measured at FVPL. A gain or loss on a debt investment that is subsequently measured at FVPL is recognized in profit or loss and presented net within other income, gains or loss in the period in which it arises. (b) Equity instruments The Group subsequently measures all equity investments at fair value. Where the Group’s management has elected to present fair value gains and losses on equity investments in other comprehensive income, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognized in profit or loss. Changes in the fair value of financial assets at fair value through profit or loss are recognized in profit or loss. Impairment losses (and reversal of impairment losses) on equity investments measured at FVOCI are not reported separately from other changes in fair value. (c) Impairment The group assesses on a forward looking basis the expected credit losses associated with its debt instruments carried at amortized cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk. Expected credit loss refers to the weighted average amount of credit loss of financial instruments based on the probability of default. Credit loss refers to the difference between all contractual cash flows receivable and all cash flows that the entity expects to receive, discounted at the original effective interest rate. The Group recognizes or reverses the impairment provision through profit or loss. For debt instruments measured at FVOCI, impairment gains or losses are included in the net impairment losses on financial instruments and correspondingly reduce the accumulated changes in fair value included in the OCI reserves of equity. ​ 2 Summary of significant accounting policies (Continued) 2.10 Financial assets (Continued) Recognition and measurement (Continued) For trade receivables and contract assets, the Group applies the simplified approach permitted by IFRS 9, which requires expected lifetime losses to be recognized from initial recognition of the assets. The impairment matrix is determined based on historical observed default rates over the expected life of the contract assets and trade receivables with similar credit risk characteristics and is adjusted for forward-looking estimates. At every reporting date the historical observed default rates are updated and changes in the forward-looking estimates are analysed. Impairment on other receivables are measured as either 12-month expected credit losses or lifetime expected credit losses, depending on whether there has been a significant increase in credit risk since initial recognition. If a significant increase in credit risk of a receivable has occurred since initial recognition, then impairment is measured as lifetime expected credit losses. Offsetting financial instruments Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the company or the counterparty. 2.11 Financial liabilities The Group, at initial recognition, classifies financial liabilities as either financial liabilities subsequently measured at amortised cost or financial liabilities at fair value through profit or loss. ​ Except for derivative financial instruments (Note 2.12), the Group ’ ​ Where the present obligations of financial liabilities are discharged, cancelled or when they are expired, the Group derecognises these financial liabilities. The differences between the carrying amounts and the consideration received are recognised in profit or loss. ​ Financial liabilities are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period. 2.12 Derivative financial instruments The Group’s derivative financial instruments are initially recognized at fair value on the date of which the related derivative contracts are entered into and are subsequently measured at fair value. All derivatives are carried as assets when the fair values are positive and as liabilities when the fair values are negative. The gains or losses arisen from fair value changes of derivatives are recognized in profit or loss. No derivative financial instruments are designated as hedging instrument. ​ 2 Summary of significant accounting policies (Cont

Critical accounting estimates a

Critical accounting estimates and judgments	12 Months Ended
	Dec. 31, 2022
Critical accounting estimates and judgments
Critical accounting estimates and judgments	3 Critical accounting estimates and judgments The Group makes estimates and judgments that affect the reported amounts of revenues, expenses, assets and liabilities in these financial statements. Estimates and judgments are continually assessed based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the process of applying the Group’s accounting policies, management has made the following judgments and accounting estimation, which have the most significant effect on the amounts recognized in the financial statements. (a) Impairment of financial assets measured at amortized costs The Group applies expected credit losses model in measuring impairment of trade receivables, contract assets, other receivables, loans and advances to customers. The expected loss rates are based on the Group ’ ​ Details of the methodology and key inputs used are disclosed in Note 4.1(b)(ii). (b) Income taxes The Group is subject to income taxes in numerous jurisdictions. Judgement is required in determining the provision for income taxes. The recognition of deferred tax assets is based upon whether it is more likely than not that sufficient and suitable taxable profits will be available in the future against which the deductible temporary difference can be utilised. To determine the future taxable profits, reference is made to the latest available profit forecasts. Where the temporary difference is related to losses, relevant tax law is considered to on a jurisdictional basis determine the availability of the losses to offset against the future taxable profits. Significant items on which the Group has exercised accounting judgment include recognition of deferred tax assets in respect of tax losses. Recognition of the deferred tax assets involves judgment regarding the future financial performance of the Group. The deferred tax assets recognised as at December 31, 2021, 2022 were mainly attributable to major operating companies in Mainland China, which are eligible for preferential tax policies applicable for the qualification of “High and New Technology Enterprise” , and being entitled to a preferential income tax rate of 15% and the number of years that deductible tax losses can be utilised is extended to 10 years. The carrying amount and reliability of deferred tax assets were reviewed periodically at the end of each reporting period by comparing forecasted taxable profits in prior period to actual results in the current period and comparing revenue growth rate and profit margin in the current year forecast to historical results and industry trends. ​ 3 Critical accounting estimates and judgments (Continued) (b) Income taxes (Continued) Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact current income tax and deferred income tax in the period in which such determination is made. (c) Recognition of share-based compensation expenses As mentioned in Note 26, equity-settled share-based compensation schemes were established for the employees. The directors have used the Binomial option-pricing model to determine the grant date fair value of the options or restricted shares granted to employees, which is to be expensed over the vesting period. Significant estimate on assumptions, such as the underlying equity value, risk-free interest rate, expected volatility and dividend yield, is required to be made by the directors in applying the Binomial option-pricing model. The values of options or restricted shares are subject to subjectivity and uncertainty relating to the assumptions and limitation of the model used to estimate such values. In addition, The Group is required to estimate the percentage of grantees that will remain in employment with the Group and whether the performance conditions for vesting will be met at the end of the vesting period. The Group only recognizes an expense for those share options or restricted shares expected to vest over the vesting period. (d) Estimation of the useful life of application and platform included in intangible assets As at December 31, 2022, the carrying amount of application and platform was RMB191,070,000 (2021: RMB257,118,000). The Group estimates the useful life of the application and platform to be at least 3 years based on the expected technical obsolescence of such assets. However, the actual useful life may be shorter or longer than 3 years, depending on technical innovations and competitor actions. If it were only 2 years, the amortisation would be RMB196,209,000 for the year ended December 31, 2022 (2021: RMB184,392,000, 2020: RMB388,259,000). If the useful life were estimated to be 5 years, the amortisation would be RMB78,484,000 for the year ended December 31, 2022 (2021: RMB160,381,000, 2020: RMB155,303,000). (e) Impairment of intangible assets including goodwill The Group is required to test impairment for goodwill, and intangible assets not ready for use on an annual basis. Other intangible assets are tested whenever events or changes in circumstances indicate that the carrying amount of those assets exceeds its recoverable amount. Intangible assets are tested for impairment based on the recoverable amount of the cash generating unit (“CGU”) to which these assets are related. The recoverable amount is determined based on the higher of fair value less costs to sell and value in use. Determination of the value in use is an area involving management judgment in order to assess whether the carrying value of intangible assets can be supported by the net present value of future cash flows. In calculating the net present value of the future cash flows, certain assumptions are required to be made in respect of highly uncertain areas including management ’ ​ Details of the methodology and key inputs used are disclosed in Note 13. (f) Consolidation of VIEs As disclosed in Note 1.2, the Group exercises control over the VIEs and has the right to recognize and receive substantially all the economic benefits through the Contractual Arrangements. The Group considers that it controls the VIEs notwithstanding the fact that it does not hold direct equity interests in the VIEs, as it has power over the financial and operating policies of the VIEs and receive substantially all the economic benefits from the business activities of the VIEs through the Contractual Arrangements. Accordingly, all these VIEs are accounted for as controlled structured entities and their financial statements have also been consolidated by the Company.

Management of financial risk

Management of financial risk	12 Months Ended
	Dec. 31, 2022
Management of financial risk
Management of financial risk	4 Management of financial risk The Group’s activities expose it to a variety of financial risks: market risk (comprising currency risk and interest rate risk), credit risk and liquidity risk. The Group’s overall risk management program focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Group’s financial performance. Risk management is carried out by the senior management of the Group. Since December 2019, COVID-19 has become widespread in China and many other countries. Although China’s economy is reopening, the Group’s operations have been negatively affected by delays in project implementation, on-site work, business development, client interaction and general uncertainties surrounding the effective and timely constraint of COVID-19. The outbreak of COVID-19 and the resulting widespread health crisis have also adversely affected the economies and financial markets, which could result in an economic downturn. As a result, customer usage of the Group’s solutions and the revenue growth have been and will continue to be adversely affected. The extent to which this outbreak impacts our results of operations will depend on future developments, which are highly uncertain and unpredictable, including new information that may emerge concerning the severity of this outbreak and future actions, if any, to contain this outbreak or treat its impact, among others. The Group has been proactively working with existing and new customers to provide them operation support services and assist them in their shift to cloud-based solutions amid the pandemic-related interruptions. The outlook for the pandemic remains fluid, and the full and long-term implications from COVID-19 on the Group’s business and results of operations are uncertain. The Group will continue to closely monitor the situation and adjust our business to meet the evolving customer demand. 4.1 Financial risk factors (a) Market risk Currency risk Foreign currency risk is the risk of loss resulting from changes in foreign currency exchange rates. Fluctuations in exchange rates between the RMB and other currencies in which the Group conducts business may affect its financial position and results of operations. The foreign currency risk assumed by the Group mainly comes from movements in the USD/RMB exchange rates. The Company and overseas intermediate holding companies’ functional currency is USD. They are mainly exposed to foreign exchange risk arising from their cash and cash equivalents and loans to group companies denominated in RMB. The Group has entered into spot-forward USD/RMB derivative financial instruments to hedge certain portion of its exposure to foreign currency risk arising from loans to group companies denominated in RMB. The Group monitors the size of foreign currency position, and manages foreign currency risk by utilizing hedging strategy. The subsidiaries of the Group are mainly operated in mainland China with most of the transactions settled in RMB. The Group considers that the business in mainland China is not exposed to any significant foreign exchange risk as there are no significant financial assets or liabilities of these subsidiaries denominated in the currencies other than the respective functional currency. The analysis below is performed for reasonably possible movements in key variables with all other variables held constant, showing the post-tax impact on profit and equity, after considering hedging strategy. 4 Management of financial risk (Continued) 4.1 Financial risk factors (Continued) (a) Market risk(Continued) ​ Currency risk (Continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, ​ At December 31, ​ ​ 2020 ​ 2021 ​ 2022 ​ 2020 ​ 2021 ​ 2022 ​ ​ Impact on post tax profit ​ Impact on other components of equity ​ RMB’000 ​ RMB’000 RMB’000 RMB’000 ​ RMB’000 RMB’000 USD+5% 52,506 ​ (4,028) 1,752 618,581 ​ 260,467 ​ 230,632 USD −5% (52,506) ​ 4,028 (1,752) (618,581) ​ (260,467) ​ (230,632) ​ Interest rate risk Interest rate risk is the risk of an adverse impact to earnings or capital due to changes in market interest rates. Floating rate instruments expose the Group to cash flow interest rate risk, whereas fixed rate instruments expose the Group to fair value interest risk. Interest rate risk of the Group is mainly from mismatches in the interest rate profiles of assets, liabilities and capital instruments in Virtual Bank Business. The sensitivity analysis on earnings and economic value is described as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2022 RMB million HKD USD RMB ​ ​ ​ ​ ​ ​ ​ Impact on earnings over the next 12 months if interest rates rise by 200 basis points (9) 9 1 Impact on economic value if interest rates rise by 200 basis points (25) (1) — ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2021 RMB million HKD USD RMB ​ ​ ​ ​ ​ ​ ​ Impact on earnings over the next 12 months if interest rates rise by 200 basis points (20) — 4 Impact on economic value if interest rates rise by 200 basis points (27) — — ​ ​ 4 Management of financial risk (Continued) 4.1 Financial risk factors (Continued) (b) Credit risk (i) Credit risk management In 2022, the COVID-19 still had certain impacts on businesses in some provinces/cities and industries as well as the whole economy of the PRC. As a result, the quality of the Group’s credit assets and investment assets was affected to some extent. The Group’s credit risk is mainly associated with cash and cash equivalents, restricted cash and time deposits over three months, trade receivables, contract assets, other receivables, financial assets measured at amortized cost from Virtual Bank and financial guarantee contracts. The carrying amounts of each class of the above financial assets represent the Group’s maximum exposure to credit risk in relation to financial assets as disclosed in Note 4.1 (b) (ii). To manage this risk arising from cash and cash equivalents and restricted cash and time deposits over three months, the Group mainly transacts with state-owned or reputable financial institutions in the PRC including related parties (Note 35(d)) and reputable international financial institution outside the PRC. The Group considers that there is no significant credit risk and the Group will not suffer any material losses due to the default of these financial institutions. The Group’s trade receivables and contract assets mainly arise from transactions undertaken with customers. The Group mitigates the credit risk by assessing the credit quality, setting a shorter credit period or arranging the instalment payment and prepayment method. The impairment loss allowance for trade receivables and contract assets are disclosed in Note 18 and Note 5. For other receivables (except for financial guarantee fee receivables), management make periodic collective assessments as well as individual assessment on the recoverability based on historical settlement records and forward looking information. ​ 4 Management of financial risk (Continued) 4.1 Financial Risk (Continued) (b) Credit risk (Continued) (i) Credit risk management (Continued) For financial assets measured at amortized cost from virtual bank, management developed independent and regular procedures to review the approvals of credit applications, structure levels of credit risk by setting limits on the exposure of risk, and review the ability of borrowers to meet repayment obligations, with monitoring made on a revolving basis and performing periodic reviews. The credit programmes are managed on a portfolio basis, and the limits on the level of credit risk by sectors are approved annually by the management. The exposure to credit risk is mitigated by obtaining relevant financial guarantees. For debt securities and interbank exposure under treasury portfolio, external ratings are used, which are continuously monitored and updated. (ii) ECL measurement For financial assets whose impairment losses are measured using expected credit loss (“ECL”) model, the Group assesses whether their credit risk has increased significantly since their initial recognition, and applies a three-stage impairment model to calculate their impairment allowance and recognize their ECL, as follows: - - - The Group considers the credit risk characteristics of different financial instruments when determining if there is significant increase in credit risk. For financial instruments with or without significant increase in credit risk, 12-month or lifetime expected credit losses are provided respectively. The expected credit loss is the result of discounting the product of Exposure at Default, Probabilities of Default and Loss given Default. According to whether the credit risk has increased significantly or whether the assets have been impaired, the Group measures the impairment loss allowance with the expected credit losses of 12-month or the lifetime due to the credit risk characteristics of different assets. The Group applies the IFRS 9 simplified approach in measuring expected credit losses which uses a lifetime expected impairment loss allowance for all trade receivables and contract assets. 4 Management of financial risk (Continued) 4.1 Financial Risk (Continued) (b) Credit risk (Continued) (ii) ECL measurement (Continued) Judgement of significant increase in credit risk (“SICR”) Under IFRS 9, when considering the impairment stages for financial assets, the Group evaluates the credit risk at initial recognition and also whether there is any significant increase in credit risk for each reporting period. The Group set quantitative and qualitative criteria to judge whether there has been a SICR after initial recognition. The judgement criteria mainly includes the Probabilities of Default changes of the debtors, changes of credit risk categories and other indicators of SICR, etc.. In the judgement of whether there has been a SICR after initial recognition, the Group has not rebutted the 30 days past due as presumption of SICR. The definition of credit-impaired assets Under IFRS 9, in order to determine whether credit impairment occurs, the defined standards adopted by the Group are consistent with the internal credit risk management objectives for relevant financial assets while considering quantitative and qualitative indicators. When the Group assesses whether the debtor has credit impairment, the following factors are mainly considered: ● The debtor has overdue more than 90 days after the contract payment date ● The debtor has significant financial difficulties ● The debtor is likely to go bankrupt or other financial restructuring ● The lender gives the debtor concessions for economic or contractual reasons due to the debtor’s financial difficulties, where such concessions are normally reluctant to be made by the lender The credit impairment of financial assets may be caused by the joint effects of multiple events and may not be caused by separately identifiable event. Forward-looking information The historical loss rates are adjusted to reflect current and forward-looking information on macroeconomic factors affecting the ability of the debtors to settle the receivables. The Group has developed macroeconomic forward looking adjustment model by establishing a pool of macro-economic indicators, preparing data, filtering model factors and adjusting forward-looking elements, and the indicators include country or region local GDP, Consumer Price Index(“CPI”), Unemployment Rate (“UR”), Investment in fixed assets, Producer Price Index, Home price index, etc. based on the statistical analysis of historical data. The Group has identified the CPI to be the most relevant factor to evaluate expected credit losses on 31 December 2022, and has also taken into account of the Hong Kong real GDP and the Hong Kong UR in Virtual Bank operations, and accordingly adjusts the historical loss rates based on expected changes in these factors. In generating the forward-looking scenarios, the operationalization of the ECL models, using also the latest economic statistics, would take into account the recent influences of the coronavirus pandemic situation. Credit risk exposure Without considering the impact of collateral and other credit enhancement, for on-balance sheet assets, the maximum exposures are based on net carrying amounts as reported in the consolidated financial statements. 4 Management of financial risk (Continued) 4.1 Financial Risk (Continued) (b) Credit risk (Continued) (ii) ECL measurement (Continued) Credit risk exposure (Continued) (1) Trade receivables and contract assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2021 ​ RMB'000 RMB'000 RMB'000 ​ Trade Contract ​ ​ receivables assets ​ Total Gross carrying amount Applying simplified approach ​ ​ ​ ​ 934,152 311,103 1,245,255 ​ ​ ​ ​ ​ ​ ​ Loss allowance Applying simplified approach ​ ​ ​ ​ 42,978 82,340 125,318 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2022 ​ RMB'000 RMB'000 RMB'000 ​ Trade Contract ​ ​ receivables assets ​ Total Gross carrying amount Applying simplified approach 998,036 182,480 1,180,516 ​ ​ ​ ​ ​ ​ ​ Loss allowance ​ ​ ​ Applying simplified approach 57,047 ​ 59,852 116,899 ​ ​ 4 Management of financial risk (Continued) 4.1 Financial Risk (Continued) (b) Credit risk (Continued) (ii) ECL measurement (Continued) Credit risk exposure (Continued) (1) To measure the expected credit losses, all trade receivables and contract assets have been grouped based on shared credit risk characteristics and the aging analysis. The contract assets relate to unbilled work in progress and have substantially the same risk characteristics as the trade receivables for the same types of contracts. The impairment loss allowance of trade receivables and contract assets applying simplified approach was determined as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2021 ​ Related Up to 1 year to 2 year to Above ​ ​ ​ parties ​ 1 year ​ 2 year ​ 3 year ​ 3 years ​ Total Expected loss rate ​ 1.55 % 6.31 % 33.30 % 89.51 % 98.86 % 10.06 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross carrying amount of trade receivables and contract assets applying simplified approach 456,470 653,428 81,012 39,758 14,587 1,245,255 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss allowance of trade receivables and contract assets applying simplified approach 7,091 41,240 26,980 35,587 14,420 125,318 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2022 ​ ​ Related ​ Up to ​ 1 year to ​ 2 year to ​ Above ​ ​ ​ parties 1 year 2 year 3 year 3 years Total Expected loss rate 2.27 % 3.33 % 42.80 % 68.40 % 97.75 % 9.90 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross carrying amount of trade receivables and contract assets applying simplified approach 391,221 657,723 63,170 ​ 26,482 ​ 41,920 ​ 1,180,516 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss allowance of trade receivables and contract assets applying simplified approach 8,888 21,885 27,038 ​ 18,113 ​ 40,975 ​ 116,899 ​ ​ ​ 4 Management of financial risk (Continued) 4.1 Financial Risk (Continued) (b) Credit risk (Continued) (ii) ECL measurement (Continued) Credit risk exposure (Continued) (1) Trade receivables and contract assets (Continued) Movements in the impairment loss allowance of trade receivables and contract assets applying simplified approach are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Beginning of the year (45,944) ​ (97,243) (125,318) Additions of impairment loss, net ​ (118,943) ​ (71,061) ​ (18,715) Recovery of amounts written off previously ​ — ​ — ​ (9,980) Write-off 67,644 ​ 42,986 37,156 Exchange difference ​ — ​ — ​ (42) End of the year (97,243) ​ (125,318) (116,899) ​ (2) ​ Impairment on other receivables is measured as either 12-month expected credit losses or lifetime expected credit loss, depending on whether there has been a significant increase in credit risk since initial recognition. If a significant increase in credit risk of a receivable has occurred since initial recognition, then impairment is measured as lifetime expected credit loss. The credit risk exposure of the other receivables was disclosed in Note 19(a). ​ (3) ​ The following table presents the credit risk exposure of the loans and advances to customers from virtual bank. ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Gross carrying amount ​ ​ ​ ​ ​ ​ ​ Financial assets measured at amortized cost 13,575 44 Financial assets measured at fair value through other comprehensive income 1,103,460 1,608,402 ​ 1,117,035 1,608,446 ​ ​ ​ ​ ​ Expected credit loss provision 190 — ​ ​ ​ Expected loss rate 1.40 % — ​ 4 Management of financial risk (Continued) 4.1 Financial Risk (Continued) (b) Credit risk (Continued) (ii) ECL measurement (Continued) Credit risk exposure (Continued) (3) ​ Movements in the impairment loss allowance of loans and advances to customers applying three-stage approach are as follows: ​ *1 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Beginning of the year ​ — (711) (190) (Additions)/Reversals of impairment loss ​ (711) ​ (1,170) ​ 190 Write‑off ​ — 1,691 — End of the year ​ (711) (190) — ​ *2 ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ ​ 2020 2021 2022 ​ RMB’000 ​ RMB’000 ​ RMB’000 Beginning of the year — (712) (1,962) (Additions)/Reversals of impairment loss (712) (1,250) (10,616) Write-off — — 1,050 End of the year (712) (1,962) (11,528) ​ ​ 4 Management of financial risk (Continued) 4.1 Financial Risk (Continued) (c) Liquidity risk The Group manages liquidity risk by maintaining adequate cash and cash equivalents and reserve borrowing facilities, by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities. Management believe that the Group’s current cash and cash equivalents and anticipated cash flows from operations, investment and financing activities will be sufficient to meet the Group’s anticipated working capital requirements and capital expenditures for the next 12 months from December 31, 2022. The liquidity risk of the foreign exchange swap is managed by aligning the critical terms of such swaps with the hedged items. The table below analyses the Group’s financial liabilities into relevant maturity grouping based on the remaining period at the end of each reporting period to the contractual maturity date. The amounts disclosed in the table are undiscounted contractual cash flows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2021 ​ Within 1 year 1 to 5 years Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ ​ ​ ​ ​ ​ ​ Short‑term borrowings 818,246 ​ — ​ 818,246 Trade and other payables 1,158,593 ​ 340,162 ​ 1,498,755 - Including: lease liabilities ​ 65,094 ​ 112,102 ​ 177,196 Customer deposits 1,350,171 ​ — ​ 1,350,171 Non ‑ derivative financial liabilities ​ 3,327,010 ​ 340,162 ​ 3,667,172 ​ ​ ​ ​ ​ ​ ​ Gross settled (foreign currency swaps) ​ ​ ​ ​ ​ - (inflow) (2,147,751) ​ — ​ (2,147,751) - outflow ​ 2,338,722 ​ — ​ 2,338,722 Derivative financial liabilities ​ 190,971 ​ — ​ 190,971 ​ ​ ​ ​ ​ ​ ​ Total ​ 3,517,981 ​ 340,162 ​ 3,858,143 ​ ​ 4 Management of financial risk (Continued) 4.1 Financial Risk (Continued) (c) Liquidity risk (Continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2022 ​ Within 1 year 1 to 5 years Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ ​ ​ ​ ​ ​ ​ Short‑term borrowings 294,461 ​ — ​ 294,461 Trade and other payables 1,236,571 ​ 139,387 ​ 1,375,958 - Including: lease liabilities ​ 50,862 ​ 47,093 ​ 97,955 Other financial liabilities from virtual bank ​ 89,327 ​ — ​ 89,327 Customer deposits ​ 1,929,183 ​ — ​ 1,929,183 Non ‑ derivative financial liabilities 3,549,542 ​ 139,387 ​ 3,688,929 ​ ​ ​ ​ ​ ​ ​ Gross settled (foreign currency swaps) ​ ​ ​ ​ ​ - (inflow) (198,722) ​ — ​ (198,722) - outflow 208,290 ​ — ​ 208,290 Derivative financial liabilities 9,568 ​ — ​ 9,568 Total 3,559,110 ​ 139,387 ​ 3,698,497 ​ 4.2 Capital management The Group’s objectives when managing capital are to safeguard the Group’s ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to enhance shareholders’ value in the long-term. The Group monitors capital (including share capital and reserves) by regularly reviewing the capital structure. As a part of this review, the Company considers the cost of capital and the risks associated with the issued share capital. The Group may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or repurchase the Company’s shares. In the opinion of the Directors of the Company, the Group’s capital risk was low as at December 31, 2022. 4.3 Fair value estimates are made at a specific point in time based on relevant market information and information about financial instruments. When an active market exists, such as an authorized securities exchange, the market value is the best reflection of the fair values of financial instruments. For financial instruments where there is no active market, fair value is determined using valuation techniques. The Group’s financial assets measured at fair value mainly include financial assets at fair value through profit or loss and financial assets measured at fair value through other comprehensive income. Determination of fair value and fair value hierarchy All assets and liabilities for which fair value is measured or disclosed in the consolidated financial statements are categorized within the fair value hierarchies. The fair value hierarchy categorizes the inputs to valuation techniques used to measure fair value into three broad levels. The level in the fair value hierarchy within which the fair value measurement is categorized in its entirety is determined on the basis of the lowest level input that is significant to the fair value measurement in its entirety. ​ 4 Management of financial risk (Continued) 4.3 Determination of fair value and fair value hierarchy (Continued) The levels of the fair value hierarchy are as follows: (a) Fair value is based on quoted prices (unadjusted) in active markets for identical assets or liabilities (“Level 1”); (b) Fair value is based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices) (“Level 2”); and (c) Fair value is based on inputs for the asset or liability that are not based on observable market data (unobservable inputs) (“Level 3”). The level of fair value calculation is determined by the lowest level input that is significant in the overall calculation. As such, the significance of the input should be considered from an overall perspective in the calculation of fair value. For Level 2 financial instruments, valuations are generally obtained from third party pricing services for identical or comparable assets, or through the use of valuation methodologies using observable market inputs, or recent quoted market prices. Valuation service providers typically gather, analyse and interpret information related to market transactions and other key valuation model inputs from multiple sources, and through the use of widely accepted internal valuation models, provide a theoretical quote on various securities. For Level 3 financial instruments, prices are determined using valuation methodologies such as discounted cash flow models and other similar techniques. Determinations to classify fair value measurement within Level 3 of the valuation hierarchy are generally based on the significance of the unobservable factors to the overall fair value measurement, and valuation methodologies such as discounted cash flow models and other similar techniques. To determine the fair value of loans and advances to customers from virtual bank, loans are segregated into portfolios of similar characteristics. Fair values are estimated using discounted cash flow methodology incorporating a range of input assumptions including expected customer prepayment rates, new business interest rate estimates for similar loans. The fair value of loans reflects expected credit losses at the balance sheet date and the fair value effect of repricing between origination and the reporting date. For credit impaired loans, fair value is estimated by discounting the future cash flows over the period they are expected to be recovered. For assets and liabilities that are recognized at fair value on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy by re-assessing 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. The following tables provide the fair value measurement hierarchy of the Group’s financial assets and liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2021 ​ Level 1 Level 2 Level 3 Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 Assets measured at fair value ​ ​ ​ ​ Financial assets at fair value through profit or loss (Note 21) — 2,070,977 676 2,071,653 Financial assets measured at fair value through other comprehensive income (Note 16) 16,334 — 1,106,664 1,122,998 Financial liabilities ​ ​ ​ ​ ​ ​ ​ ​ Derivative financial liabilities ​ — ​ 190,971 ​ — ​ 190,971 ​ ​ 4 Management of financial risk (Continued) 4.3 Determination of fair value and fair value hierarchy (Continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2022 ​ Level 1 Level 2 Level 3 Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 Assets measured at fair value ​ ​ ​ ​ Financial assets at fair value through profit or loss (Note 21) — ​ 690,627 ​ — ​ 690,627 Financial assets measured at fair value through other comprehensive income (Note 16) 442,935 ​ — ​ 1,611,606 ​ 2,054,541 Derivative financial assets ​ — ​ 56,363 ​ — ​ 56,363 Financial liabilities ​ ​ ​ ​ ​ ​ ​ Derivative financial liabilities ​ — ​ 9,568 ​ — ​ 9,568 ​ For the years ended December 31, 2021 and 2022, there were no transfers among different levels of fair values measurement. Movements of Level 3 financial instruments measured at fair value are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Beginning of the year 6,438 ​ 5,676 ​ 1,107,340 Additions, net — ​ 1,103,460 ​ 506,620 (Losses)/gain recognised in other comprehensive income ​ — ​ (1,796) ​ (1,678) Losses recognised in other gain ​ (762) ​ — ​ (676) End of the year 5,676 ​ 1,107,340 ​ 1,611,606 ​ Valuation inputs and relationships to fair value ​ The following table summarises main quantitative and qualitative information about the significant unobservable inputs used in level 3 fair value measurements for loans and advances to customers from virtual bank measured at fair value through other comprehensive income. The impact of changes in unobservable inputs for other level 3 fair value measurement was immaterial. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unobservable inputs ​ Range of inputs ​ ​ 2021 2022 ​ ​ ​ ​ ​ ​ ​ ​ Financial assets measured at fair value through other comprehensive income ​ -Loans and advances to customers from virtual bank ​ ​ Discount rate 5.22% - 10.05 % 5.66% - 9.30 % ​ Prepayment ratio 0.35% - 0.39 % 0.34% - 0.38 % ​ ​ 4 Management of financial risk (Continued) 4.3 Valuation inputs and relationships to fair value (Continued) The analysis below is performed for reasonably possible movements in unobservable inputs with all other variables held constant, showing the impact on the assets and other comprehensive income. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unobservable inputs ​ Impact on the assets and ​ ​ ​ ​ other comprehensive ​ ​ ​ ​ income ​ ​ ​ 2021 ​ 2022 ​ ​ ​ ​ ​ ​ ​ -Loans and advances to customers from virtual bank Discount rate +5 % (4,579) (5,941) ​ -5 % 4,608 5,975 Prepayment ratio +5 % (195) (283) ​ -5 % 195 283 ​

Segment information and revenue

Segment information and revenue	12 Months Ended
	Dec. 31, 2022
Segment information and revenue
Segment information and revenue	5 Segment information and revenue 5.1 Description of segments and principal activities The chief operating decision-makers and management personnel review the Group’s internal reporting in order to assess performance, allocate resources, and determine the operating segments based on these reports. The Group has the following reportable segments for the year ended December 31, 2022: – Technology Solution – Virtual Bank Business ​ 5 Segment information and revenue (Continued) 5.1 Description of segments and principal activities (Continued) As the Group’s assets and liabilities are substantially located in the PRC, substantially all revenues are earned and substantially all expenses incurred in the PRC, no geographical segments are presented. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2020 ​ ​ ​ ​ ​ ​ Intersegment ​ ​ ​ ​ ​ ​ ​ ​ eliminations ​ ​ ​ ​ Virtual Bank ​ Technology ​ and ​ ​ ​ ​ Business ​ Solutions ​ adjustments ​ Consolidated ​ RMB’000 RMB’000 RMB’000 RMB’000 ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue 3,177 3,353,903 (44,790) 3,312,290 Cost of revenue (20,953) (2,092,671) 44,790 (2,068,834) Gross profit (17,776) 1,261,232 — 1,243,456 ​ ​ ​ ​ ​ ​ ​ ​ ​ Research and development expenses (27,395) (1,145,895) — (1,173,290) Selling and marketing expenses (18,622) (610,866) — (629,488) General and administrative expenses (106,291) (728,626) — (834,917) Net impairment losses on financial and contract assets (712) (133,807) — (134,519) Other income, gains or loss-net 7,440 50,992 — 58,432 Operating loss (163,356) (1,306,970) — (1,470,326) ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance income — 77,237 — 77,237 Finance costs (546) (149,817) — (150,363) Finance costs – net (546) (72,580) — (73,126) Share of losses of associate and joint venture — (7,802) — (7,802) Loss before income tax (163,902) (1,387,352) — (1,551,254) ​ ​ ​ ​ ​ ​ ​ ​ ​ ASSETS Segment Assets 1,026,918 9,822,814 (818,197) 10,031,535 Goodwill — 289,161 — 289,161 Deferred income tax assets — 564,562 — 564,562 Total assets 1,026,918 10,676,537 (818,197) 10,885,258 ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES Segment Liabilities 511,105 5,129,511 (60,721) 5,579,895 Deferred income tax liabilities — 20,080 — 20,080 Total Liabilities 511,105 5,149,591 (60,721) 5,599,975 ​ ​ ​ ​ ​ ​ ​ ​ ​ Other segment information Depreciation of property and equipment 8,273 130,258 — 138,531 Amortization of intangible assets 10,720 271,977 — 282,697 Additions of non-current assets except for goodwill and deferred income tax assets 63,997 239,829 — 303,826 ​ ​ 5 Segment information and revenue (Continued) 5.1 Description of segments and principal activities (Continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2021 ​ ​ ​ ​ ​ ​ Intersegment ​ ​ ​ ​ ​ ​ ​ ​ eliminations ​ ​ ​ ​ Virtual Bank ​ Technology ​ and ​ ​ ​ ​ Business ​ Solutions ​ adjustments ​ Consolidated ​ RMB’000 RMB’000 RMB’000 RMB’000 ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue 34,320 4,098,734 (697) 4,132,357 Cost of revenue (37,748) (2,658,655) 697 (2,695,706) Gross profit (3,428) 1,440,079 — 1,436,651 ​ ​ ​ ​ ​ ​ ​ ​ ​ Research and development expenses (33,192) (1,319,826) — (1,353,018) Selling and marketing expenses (38,042) (550,338) — (588,380) General and administrative expenses (99,796) (741,889) — (841,685) Net impairment losses on financial and contract assets (1,250) (70,979) — (72,229) Other income, gains or loss-net 91 13,830 — 13,921 Operating loss (175,617) (1,229,123) — (1,404,740) ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance income — 28,823 — 28,823 Finance costs (310) (76,327) — (76,637) Finance costs – net (310) (47,504) — (47,814) Share of gain of associate and joint venture — 9,946 — 9,946 Loss before income tax (175,927) (1,266,681) — (1,442,608) ​ ​ ​ ​ ​ ​ ​ ​ ​ ASSETS Segment Assets 2,032,344 7,377,469 (1,041,585) 8,368,228 Goodwill — 289,161 — 289,161 Deferred income tax assets — 683,218 — 683,218 Total assets 2,032,344 8,349,848 (1,041,585) 9,340,607 ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES Segment Liabilities 1,459,125 4,097,004 (60,465) 5,495,664 Deferred income tax liabilities — 9,861 — 9,861 Total Liabilities 1,459,125 4,106,865 (60,465) 5,505,525 ​ ​ ​ ​ ​ ​ ​ ​ ​ Other segment information Depreciation of property and equipment 14,195 121,780 — 135,975 Amortization of intangible assets 20,356 282,418 — 302,774 Additions of non-current assets except for goodwill and deferred income tax assets 44,107 201,940 — 246,047 ​ ​ 5 Segment information and revenue (Continued) 5.1 Description of segments and principal activities (Continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2022 ​ ​ ​ ​ ​ ​ Intersegment ​ ​ ​ ​ ​ ​ ​ ​ eliminations ​ ​ ​ ​ Virtual Bank ​ Technology ​ and ​ ​ ​ ​ Business ​ Solutions ​ adjustments ​ Consolidated ​ RMB’000 RMB’000 RMB’000 RMB’000 ​ Revenue 106,540 4,360,546 (3,084) 4,464,002 Cost of revenue (56,716) (2,775,354) 3,084 (2,828,986) Gross profit 49,824 1,585,192 — 1,635,016 ​ ​ ​ ​ ​ ​ ​ ​ ​ Research and development expenses (18,276) (1,399,415) — (1,417,691) Selling and marketing expenses (41,408) (369,948) — (411,356) General and administrative expenses (114,546) (710,165) — (824,711) Net impairment losses on financial and contract assets (10,616) (23,023) — (33,639) Other income, gains or loss-net (544) 71,362 — 70,818 Operating loss (135,566) (845,997) — (981,563) ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance income — 14,709 — 14,709 Finance costs (354) (36,819) — (37,173) Finance costs – net (354) (22,110) — (22,464) Share of gain of associate and joint venture — 24,852 — 24,852 Impairment charges on associates ​ — ​ (10,998) ​ — ​ (10,998) Loss before income tax (135,920) (854,253) — (990,173) ​ ​ ​ ​ ​ ​ ​ ​ ​ ASSETS Segment Assets 2,851,885 6,330,769 (1,355,392) 7,827,262 Goodwill — 289,161 — 289,161 Deferred income tax assets — 765,959 — 765,959 Total assets 2,851,885 7,385,889 (1,355,392) 8,882,382 ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES Segment Liabilities 2,093,126 3,521,957 (15,952) 5,599,131 Deferred income tax liabilities — 5,196 — 5,196 Total Liabilities 2,093,126 3,527,153 (15,952) 5,604,327 ​ ​ ​ ​ ​ ​ ​ ​ ​ Other segment information Depreciation of property and equipment 13,191 106,118 — 119,309 Amortization of intangible assets 26,909 135,212 — 162,121 Additions of non-current assets except for goodwill and deferred income tax assets 45,737 98,740 — 144,477 ​ 5 Segment information and revenue (Continued) 5.2 Revenue (a) Disaggregation of revenue from contracts with customers ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 - Technology Solutions ​ ​ ​ ​ ​ ​ Implementation 851,856 ​ 733,648 ​ 861,820 Transaction based and support revenue ​ ​ ​ ​ ​ - Operation support services ​ 1,061,445 ​ 1,097,719 ​ 1,140,727 - Business origination services 605,733 ​ 450,597 ​ 383,723 - Risk management services 362,530 ​ 534,071 ​ 414,849 - Cloud services platform 314,338 ​ 1,050,179 ​ 1,315,819 - Post‑implementation support services 55,678 ​ 49,447 ​ 50,983 - Others 57,533 ​ 182,376 ​ 189,541 ​ ​ ​ ​ ​ ​ ​ ​ 3,309,113 ​ 4,098,037 ​ 4,357,462 ​ 5 Segment information and revenue (Continued) 5.2 Revenue (Continued) (a) Disaggregation of revenue from contracts with customers (Continued) Disaggregation of revenue by timing of transfer of services over time or at a point in time is set out below: ​ ​ ​ ​ ​ ​ ​ ​ ​ At a point ​ ​ ​ ​ in time ​ Over time ​ Total Year ended December 31, 2020 ​ ​ ​ Implementation — ​ 851,856 ​ 851,856 Transaction based and support revenue ​ ​ ​ ​ - Operation support services 453,720 ​ 607,725 ​ 1,061,445 - Business origination services ​ 605,733 ​ — ​ 605,733 - Risk management services 362,530 ​ — ​ 362,530 - Cloud services platform ​ — ​ 314,338 ​ 314,338 - Post‑implementation support services — ​ 55,678 ​ 55,678 - Others 56,505 ​ 1,028 ​ 57,533 ​ ​ ​ ​ ​ ​ ​ ​ 1,478,488 ​ 1,830,625 ​ 3,309,113 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At a point ​ ​ ​ ​ ​ ​ in time ​ Over time ​ Total Year ended December 31, 2021 ​ ​ ​ ​ ​ Implementation — ​ 733,648 ​ 733,648 Transaction based and support revenue ​ ​ ​ ​ ​ - Operation support services 399,523 ​ 698,196 ​ 1,097,719 - Business origination services ​ 450,597 ​ — ​ 450,597 - Risk management services 534,071 ​ — ​ 534,071 - Cloud services platform ​ — ​ 1,050,179 ​ 1,050,179 - Post-implementation support services — ​ 49,447 ​ 49,447 - Others 181,004 ​ 1,372 ​ 182,376 ​ ​ ​ ​ ​ ​ ​ ​ 1,565,195 ​ 2,532,842 ​ 4,098,037 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At a point ​ ​ ​ ​ ​ in time Over time Total Year ended December 31, 2022 Implementation 36,266 ​ 825,554 ​ 861,820 Transaction based and support revenue ​ ​ ​ ​ ​ - Operation support services 376,784 ​ 763,943 ​ 1,140,727 - Business origination services 383,723 ​ — ​ 383,723 - Risk management services ​ 414,849 ​ — ​ 414,849 - Cloud services platform — ​ 1,315,819 ​ 1,315,819 - Post-implementation support services — ​ 50,983 ​ 50,983 - Others 189,366 ​ 175 ​ 189,541 ​ ​ ​ ​ ​ ​ ​ ​ 1,400,988 ​ 2,956,474 ​ 4,357,462 ​ 5 Segment information and revenue (Continued) 5.2 Revenue (Continued) (a) Disaggregation of revenue from contracts with customers (Continued) ​ During the years ended December 31, 2020, 2021 and 2022, the Group mainly operated in the PRC and most of the revenue were generated in PRC. The major customers (and for the Group’s lending solution services, the parties to whom service fees were charged(i)) which contributed more than 10% of the total revenue of the Group for the years ended December 31, 2020, 2021 and 2022 are listed as below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ​ ​ ended ​ ​ December 31, ​ 2020 2021 2022 ​ % of total % of total % of total ​ ​ revenue ​ revenue ​ revenue Ping An Group and its subsidiaries 52.23 % 56.03 % 56.60 % Lufax Holding Ltd (“Lufax” and its subsidiaries) 11.32 % 11.15 % 10.29 % ​ 63.55 % 67.18 % 66.89 % ​ The major customers (and for the Group’s lending solution services, the lender(ii)) which contributed more than 10% of the total revenue of the Group for the years ended December 31, 2020, 2021 and 2022 are listed as below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ​ ​ ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ % of total ​ % of total ​ % of total ​ ​ revenue ​ revenue ​ revenue Ping An Group and its subsidiaries 52.13 % 56.06 % 56.60 % Lufax and its subsidiaries 10.36 % 10.36 % 9.71 % ​ 62.49 % 66.42 % 66.31 % ​ Note: (i) The Group’s lending solution services revenue by parties charged represent the fees received/receivable by the Group from the respective customers. (ii) The Group’s lending solution services revenue by lenders represent the fees generated by the Group from loans facilitated through the Group’s platform for the respective customers as lenders. (b) Interest and commission income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ 2020 2021 2022 ​ ​ RMB ’ 000 ​ RMB ’ 000 ​ RMB ’ 000 ​ ​ ​ ​ ​ ​ ​ – ​ ​ ​ ​ ​ ​ ​ Interest and commission income 3,177 34,320 106,540 ​ 5 Segment information and revenue (Continued) 5.2 Revenue (Continued) (c) Contract assets and liabilities The Group has recognized the following revenue-related contract assets and liabilities: ​ ​ ​ ​ ​ ​ ​ ​ At December 31, ​ ​ 2021 ​ 2022 ​ RMB’000 RMB’000 Contract assets ​ ​ ​ ​ -Implementation 271,521 163,769 -Transaction based and support 39,582 18,711 - Business origination services ​ 9,976 ​ 1,404 - Operation support services ​ 17,449 ​ 12,085 - Post implementation support services 12,157 5,222 ​ ​ ​ ​ ​ ​ 311,103 182,480 Less: Impairment loss allowance ​ ​ -Implementation (72,266) (52,385) -Transaction based and support (10,074) (7,467) - Operation support services ​ (4,771) ​ (4,779) - Post implementation support services (5,303) (2,688) ​ ​ ​ ​ ​ ​ (82,340) (59,852) ​ 228,763 122,628 ​ ​ ​ ​ ​ Less: Non-current contract assets (868) — ​ 227,895 122,628 ​ ​ ​ ​ ​ ​ ​ At December 31, ​ ​ 2021 ​ 2022 ​ ​ RMB’000 RMB’000 Contract liabilities ​ ​ -Implementation ​ 24,107 ​ 42,014 -Transaction based and support 149,155 144,613 -Post implementation support services 22,748 21,679 -Risk management services 21,629 20,997 -Operation support services 90,409 87,562 -Others ​ 14,369 ​ 14,375 ​ ​ ​ ​ ​ ​ 173,262 186,627 ​ ​ ​ ​ ​ Less: Non‑current contract liabilities (19,418) (19,977) ​ 153,844 166,650 ​ ​ 5 Segment information and revenue (Continued) 5.2 Revenue (Continued) (c) Contract assets and liabilities (Continued) Decrease in contract assets during the year was because of the payment from the customer exceeds the value ascribed to the services rendered by the Group. During the years ended December 31, 2020, 2021 and 2022, there were no material cumulative catch-up adjustments to revenue that affect the corresponding contract asset or contract liability, including adjustments arising from a change in the measure of progress, a change in an estimate of the transaction price or a contract modification, there were also no revenue recognized in the reporting year from performance obligations satisfied (or partially satisfied) in previous years. (i) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended Revenue recognized in relation to contract liabilities ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Revenue recognized that was included in the contract liability balance at the beginning of the year ​ 104,960 ​ 138,547 ​ 153,844 ​ (ii) Remaining performance obligations of long-term contracts ​ ​ ​ ​ ​ ​ ​ ​ Remaining performance obligations of long-term contracts ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Aggregate amount of the transaction price allocated to long ‑ term contracts that are partially or fully unsatisfied at the end of each year ​ ​ ​ ​ ​ ​ Expected to be recognized within one year 240,089 ​ 455,294 670,991 Expected to be recognized in one to two years 67,464 ​ 89,762 237,126 Expected to be recognized in two to three years 48,475 ​ 33,937 99,208 Expected to be recognized beyond three years 27,688 ​ 31,523 44,365 ​ 383,716 ​ 610,516 1,051,690 ​ The remaining performance obligations disclosed above represent post-implementation support services, risk management services and operation support services that have an original contractual term of more than one year. Moreover, the amount disclosed above does not include variable consideration which is constrained.

Expenses by nature

Expenses by nature	12 Months Ended
	Dec. 31, 2022
Expenses by nature
Expenses by nature	6 Expenses by nature ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Technology service fees 1,500,711 ​ 2,021,238 2,261,498 Employee benefit expenses (Note 7) 1,643,404 ​ 1,629,375 1,601,989 Outsourcing labor costs 300,323 ​ 437,081 528,582 Business origination fees to channel partners 251,988 ​ 276,966 251,427 Purchase costs of products 74,248 ​ 176,224 183,956 Amortization of intangible assets (Note 13) 282,697 ​ 302,774 162,121 Depreciation of property and equipment (Note 12) 138,531 ​ 135,975 119,309 Listing expenses — ​ 12,467 69,857 Professional service fees ​ 67,137 ​ 48,001 ​ 50,596 Marketing and advertising fees ​ 59,801 ​ 110,775 ​ 50,246 Travelling expenses ​ 54,587 ​ 76,987 ​ 38,873 Auditor's remuneration ​ ​ ​ ​ —Audit related 15,900 ​ 14,657 16,501 —Non-audit 3,149 ​ 1,957 3,150 Impairment loss of intangible assets (Note 13) ​ 23,259 ​ 5,646 ​ 10,208 Others 290,794 ​ 228,666 134,431 Total cost of revenue, research and development expenses, selling and marketing expenses, general and administrative expenses 4,706,529 ​ 5,478,789 5,482,744 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Research and development costs ​ ​ ​ ​ -Employee benefit expenses 610,564 ​ 514,456 469,320 -Technology service fees 682,222 ​ 859,324 946,700 -Amortization of intangible assets 3,812 ​ 3,396 6,282 -Depreciation of property and equipment 9,659 ​ 11,182 14,168 -Impairment loss of intangible assets ​ 5,597 ​ 3,747 ​ 3,837 -Others 37,438 ​ 23,200 22,334 Amounts incurred 1,349,292 ​ 1,415,305 1,462,641 ​ ​ ​ ​ ​ ​ ​ Less: capitalized ​ ​ ​ ​ -Employee benefit expenses (125,767) ​ (45,016) (19,827) -Technology service fees (50,235) ​ (17,271) (25,123) ​ (176,002) ​ (62,287) (44,950) ​ 1,173,290 ​ 1,353,018 1,417,691 ​

Employee benefit expenses

Employee benefit expenses	12 Months Ended
	Dec. 31, 2022
Employee benefit expenses
Employee benefit expenses	7 Employee benefit expenses ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Wages and salaries 1,319,554 ​ 1,276,205 1,235,714 Welfare and other benefits 248,870 ​ 330,552 353,099 Share‑based payments (Note 26) 74,980 ​ 22,618 13,176 ​ 1,643,404 ​ 1,629,375 1,601,989 ​

Other income, gains or loss - n

Other income, gains or loss - net	12 Months Ended
	Dec. 31, 2022
Other income, gains or loss - net
Other income, gains or loss - net	8 Other income, gains or loss - net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Net foreign exchange gain/(loss) 285,722 ​ 77,143 ​ (312,843) Government grants and tax rebates (Note a) 63,627 ​ 51,080 ​ 58,013 Net gain on financial assets at fair value through profit or loss 49,447 ​ 45,644 ​ 30,687 Gain on dilution of interest in associate (Note 14) 2,511 ​ — ​ — Gain/(loss) on disposal of property and equipment and intangible asset 1,302 ​ (266) ​ (6,198) Remeasurement of redemption liability (Note b) — ​ — ​ 37,874 Guarantee (loss)/gain, net (69,185) ​ 10,757 ​ — Net (loss)/gain on derivatives (281,691) ​ (169,545) ​ 262,769 Others ​ 6,699 ​ (892) ​ 516 ​ ​ 58,432 ​ 13,921 ​ 70,818 ​ (a) Government grants and tax rebates ​ Government grants and tax rebates were related to income. There were no unfulfilled conditions or contingencies related to these subsidies. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Government grants 44,202 ​ 28,871 27,421 - Technology development incentives 25,425 ​ 14,391 10,493 - Epidemic subsidies 4,000 ​ — — - Operation subsidies 14,777 ​ 14,480 16,928 Tax rebates ​ 19,425 ​ 22,209 ​ 30,592 ​ 63,627 ​ 51,080 58,013 ​ (b) Remeasurement of redemption liability ​ On December 30, 2022, the Group entered into a share purchase agreement with non-controlling shareholders of BER Technology to acquire the remaining 20% equity interests of BER Technology. The contractual consideration was RMB15,000,000 based on the agreement, as BER Technology did not meet its financial performance conditions. Difference between the consideration and the carrying amount of redemption liability was recognised as other gain.

Finance costs - net

Finance costs - net	12 Months Ended
	Dec. 31, 2022
Finance costs - net
Finance costs - net	9 Finance costs — net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Finance income ​ ​ ​ ​ Interest income on bank deposits 77,237 ​ 28,823 ​ 14,709 ​ ​ ​ ​ ​ ​ ​ Finance costs ​ ​ ​ ​ Interest expense on borrowings (127,585) ​ (56,534) ​ (17,303) Interest expense on lease liabilities (7,736) ​ (5,803) ​ (7,578) Interest expense on redemption liability (14,326) ​ (12,406) ​ (10,287) Bank charges (716) ​ (1,894) ​ (2,005) ​ ​ (150,363) ​ (76,637) ​ (37,173) ​ ​ ​ ​ ​ ​ ​ ​ (73,126) ​ (47,814) ​ (22,464) ​

Income tax benefits

Income tax benefits	12 Months Ended
	Dec. 31, 2022
Income tax benefits
Income tax benefits	10 Income tax benefits The income tax benefits of the Group for the years ended December 31, 2020, 2021 and 2022 is analyzed as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Current income tax ​ (16,856) ​ (16,780) ​ (25,259) Deferred income tax ​ 153,987 ​ 128,875 ​ 87,406 Income tax benefit ​ 137,131 ​ 112,095 ​ 62,147 ​ The tax on the Group’s loss before income tax differs from the theoretical amount that would arise using the statutory tax rate applicable to loss of the consolidated entities as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 RMB’000 RMB’000 Loss before income tax ​ 1,551,254 ​ 1,442,608 ​ 990,173 Tax calculated at PRC statutory income tax rate of 25% ​ 387,814 ​ 360,652 ​ 247,543 Differential of income tax rates applicable to subsidiaries ​ (145,000) ​ (161,199) ​ (119,211) Expense not deductible for tax purposes ​ (35,455) ​ (10,169) ​ (5,659) Incomes not subject to tax ​ 6,899 ​ 1,732 ​ 542 Tax losses and temporary differences for which no deferred income tax asset was recognized ​ (81,698) ​ (87,237) ​ (73,690) Derecognization of deferred tax assets on tax losses ​ (3,137) ​ (23) ​ — Additional deductible allowance for research and development expenses ​ 6,873 ​ 8,255 ​ 10,164 Utilization of previously unrecognized tax losses ​ 835 ​ 84 ​ 2,458 Income tax benefit ​ 137,131 ​ 112,095 ​ 62,147 ​ 10 Income tax benefits (Continued) The unused tax losses for the years ended December 31, 2021 and 2022 is analyzed as follows: ​ ​ ​ ​ ​ ​ ​ ​ At December 31, ​ 2021 2022 ​ ​ RMB’000 RMB’000 Unused tax losses for which no deferred tax asset has been recognized ​ 1,982,709 2,525,806 ​ The expiry dates of the unused tax losses not recognized as deferred tax assets for the years ended December 31, 2021 and 2022 are listed as follows: ​ ​ ​ ​ ​ ​ ​ ​ At December 31, ​ 2021 2022 ​ ​ RMB’000 RMB’000 ​ ​ ​ ​ ​ Year 2022 ​ 277,048 ​ 277,048 Year 2023 ​ 118,502 ​ 118,796 Year 2024 ​ 419,866 ​ 419,866 Year 2025 ​ 82,441 ​ 83,576 Year 2026 ​ 104,316 ​ 208,346 Year 2027 ​ — ​ 67,745 Year 2028 ​ 1,826 ​ 1,826 Year 2029 ​ 7,149 ​ 7,149 Year 2030 ​ 8,051 ​ 8,049 Year 2031 ​ 60,059 ​ 56,195 Year 2032 ​ — ​ 122,036 ​ ​ 10 Income tax benefits (Continued) (a) PRC Enterprise Income Tax (“EIT”) The income tax provision of the Group in respect of operations in Mainland China has been calculated at the tax rate of 25%, unless preferential tax rates were applicable. Shenzhen OneConnect, Vantage Point Technology, BER Technology and Shenzhen CA as subsidiaries of the Group, were established in mainland China. They were eligible for preferential tax policies applicable for the qualification of “High and New Technology Enterprise” and were entitled to a preferential income tax rate of 15%. Shenzhen OneConnect Technology and OneConnect Cloud Technology as subsidiaries of the Group, were established in the China (Guangdong) Pilot Free Trade Zone Qianhai & Shekou Area of Shenzhen and accordingly is entitled to a reduced income tax rate of 15%. (b) Cayman Islands Income Tax The Company is incorporated under the laws of the Cayman Islands as an exempted company with limited liability under the Companies Law of the Cayman Islands and is not subject to Cayman Islands income tax. (c) Hong Kong Income Tax The Hong Kong income tax rate is 16.5%. No Hong Kong profits tax was provided for as there was no estimated assessable profit that was subject to Hong Kong profits tax during the years ended December 31, 2020, 2021 and 2022. (d) Singapore Income Tax The Singapore income tax rate is 17%. No Singapore profits tax was provided for as there was no estimated taxable profit that was subject to Singapore profits tax during the years ended December 31, 2020, 2021 and 2022. (e) Indonesia Income Tax The income tax provision in respect of the Group’s operations in Indonesia was calculated at the tax rate of 25% on the gross revenue for the year ended December 31, 2020, and 22% on the taxable profits for the year ended December 31, 2021 and 2022. (f) Malaysia Income Tax The Malaysia income tax rate is 24%. No Malaysia profits tax was provided for as there was no estimated taxable profit that was subject to Malaysia profits tax during the years ended December 31, 2020, 2021 and 2022. (g) Philippines Income Tax The Philippines income tax rate is 25%. No Philippines profits tax was provided for as there was no estimated taxable profit that was subject to Philippines profits tax during the years ended December 31, 2020, 2021 and 2022. (h) PRC Withholding Tax (“WHT”) According to the EIT Law, distribution of profits earned by PRC companies since January 1, 2008 to overseas investors is subject to withholding tax of 5% or 10%, depending on the region of incorporation of the overseas investor, upon the distribution of profits to overseas-incorporated immediate holding companies. As at December 31, 2020, 2021 and 2022, the Group has deficits in retained earnings, so no withholding tax is provided.

Loss per share

Loss per share	12 Months Ended
	Dec. 31, 2022
Loss per share
Loss per share	11 Loss per share ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 2021 2022 ​ ​ RMB’000 RMB’000 RMB’000 Net loss for the year attributable to owners of the Company ​ (1,353,608) ​ (1,281,699) ​ (872,274) Weighted average number of ordinary shares in issue (in’000 shares) ​ 1,064,710 ​ 1,108,291 ​ 1,094,748 ​ ​ ​ ​ ​ ​ ​ Basic loss per share (RMB yuan) ​ (1.27) ​ (1.16) ​ (0.80) Diluted loss per share (RMB yuan) ​ (1.27) ​ (1.16) ​ (0.80) ​ ​ ​ ​ ​ ​ ​ Basic loss per ADS (RMB yuan) (Note) ​ (38.14) ​ (34.69) ​ (23.90) Diluted loss per ADS (RMB yuan) (Note) ​ (38.14) ​ (34.69) ​ (23.90) ​ Note: One ADS represent thirty ordinary shares of the Company. Basic loss per share is calculated by dividing the loss attributable to owners of the Company by the weighted average number of ordinary shares in issue during the years ended December 31, 2020, 2021 and 2022. Shares held for share incentive scheme purpose have been treated as treasury shares. Accordingly, for purpose of calculation of loss per share, the issued and outstanding number of ordinary shares as at December 31, 2020, 2021 and 2022, taking into account the shares held for share incentive scheme purpose, were 1,104,233,317 shares shares shares The effects of all outstanding share options granted under the Share Option Scheme and Restricted Share Units Scheme (Note 26) for the years ended December 31, 2020, 2021 and 2022, have been excluded from the computation of diluted loss per share as their effects would be anti-dilutive. Accordingly, dilutive loss per share for the years ended December 31, 2020, 2021 and 2022 were the same as basic loss per share for the years.

Property and equipment

Property and equipment	12 Months Ended
	Dec. 31, 2022
Property and equipment.
Property and equipment	12 Property and equipment ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Office and ​ ​ ​ ​ ​ ​ ​ ​ telecommunication ​ Right ‑ of ‑ use ​ Leasehold ​ ​ ​ equipment properties improvements Total ​ ​ RMB’000 RMB’000 ​ RMB’000 RMB’000 As at January 1, 2021 ​ Cost 103,462 ​ 362,322 ​ 93,736 ​ 559,520 Accumulated depreciation (49,454) ​ (240,317) ​ (40,306) ​ (330,077) Exchange difference ​ (2,969) ​ (1,064) ​ (1,126) ​ (5,159) Net book amount 51,039 ​ 120,941 ​ 52,304 ​ 224,284 ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2021 ​ Opening net book amount 51,039 ​ 120,941 ​ 52,304 ​ 224,284 Additions 30,484 ​ 118,030 ​ 15,069 ​ 163,583 Disposals, net (1,285) ​ (5,723) ​ — ​ (7,008) Depreciation charge (21,682) ​ (88,974) ​ (25,319) ​ (135,975) Exchange difference ​ (108) ​ (273) ​ (91) ​ (472) Closing net book amount 58,448 ​ 144,001 ​ 41,963 ​ 244,412 ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2021 ​ Cost 126,626 ​ 461,605 ​ 108,805 ​ 697,036 Accumulated depreciation ​ (65,102) ​ (316,267) ​ (65,625) ​ (446,994) Exchange difference (3,076) ​ (1,337) ​ (1,217) ​ (5,630) Net book amount 58,448 ​ 144,001 ​ 41,963 ​ 244,412 ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ Opening net book amount ​ 58,448 ​ 144,001 ​ 41,963 ​ 244,412 Additions ​ 15,481 ​ 76,534 ​ 6,585 ​ 98,600 Disposals, net ​ (9,467) ​ (57,952) ​ (8,292) ​ (75,711) Depreciation charge ​ (23,027) ​ (75,519) ​ (20,763) ​ (119,309) Exchange difference ​ 420 ​ 2,510 ​ 479 ​ 3,409 Closing net book amount ​ 41,855 ​ 89,574 ​ 19,972 ​ 151,401 ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ Cost ​ 120,373 ​ 358,173 ​ 115,390 ​ 593,936 Accumulated depreciation ​ (75,862) ​ (269,772) ​ (94,680) ​ (440,314) Exchange difference ​ (2,656) ​ 1,173 ​ (738) ​ (2,221) Net book amount ​ 41,855 ​ 89,574 ​ 19,972 ​ 151,401 ​ 12 Property and equipment (Continued) During the different periods, the approximate depreciation which were charged to cost of revenue, research and development expenses, selling and marketing expenses and general and administrative expenses were as follows: ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ ​ 2021 ​ 2022 ​ RMB’000 RMB’000 Cost of revenue 3,633 ​ 2,750 Research and development expenses 11,182 ​ 14,168 Selling and marketing expenses 4,525 ​ 4,814 General and administrative expenses 116,635 ​ 97,577 ​ 135,975 ​ 119,309 ​ Depreciation of office and telecommunication equipment is allocated to different functional expenses based on usage of equipment by different functional divisions. Right-of-use properties and leasehold improvement are primarily related to business office buildings leased by the Group and used as corporate headquarters. For leased business office buildings which are for general and administrative use, the depreciation of the related right-of-use properties and leasehold improvement is charged to general and administrative expense.

Intangible assets

Intangible assets	12 Months Ended
	Dec. 31, 2022
Intangible assets.
Intangible assets	13 Intangible assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Application and platform ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contributed ​ ​ ​ ​ ​ ​ ​ Development ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ by Ping ​ Developed ​ ​ ​ Purchased ​ costs in ​ ​ ​ Business ​ ​ ​ ​ ​ An Group internally Acquired Software progress Goodwill license Others Total ​ RMB’000 RMB’000 ​ RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Year ended December 31, 2021 ​ ​ Opening net book amount — ​ 287,674 ​ 29,709 ​ 44,758 ​ 121,122 ​ 289,161 ​ 124,145 ​ 20,494 ​ 917,063 Additions — ​ — ​ 570 ​ 19,606 ​ 62,287 ​ — ​ — ​ — ​ 82,463 Disposal, net — ​ — ​ — ​ (1,103) ​ — ​ — ​ — ​ — ​ (1,103) Write-off ​ — ​ (1,899) ​ — ​ — ​ (3,747) ​ — ​ — ​ — ​ (5,646) Transfer — ​ 133,548 ​ — ​ — ​ (133,548) ​ — ​ — ​ — ​ — Amortization — ​ (190,503) ​ (28,048) ​ (36,013) ​ — ​ — ​ (31,804) ​ (16,406) ​ (302,774) Exchange differences ​ — ​ (1,877) ​ - ​ (207) ​ (725) ​ — ​ — ​ — ​ (2,809) Closing net book amount — ​ 226,943 ​ 2,231 ​ 27,041 ​ 45,389 ​ 289,161 ​ 92,341 ​ 4,088 ​ 687,194 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost 690,910 ​ 721,175 ​ 61,078 ​ 148,807 ​ 46,114 ​ 289,161 ​ 155,492 ​ 80,263 ​ 2,193,000 Accumulated amortization (690,910) ​ (491,264) ​ (58,847) ​ (121,156) ​ - ​ - ​ (63,151) ​ (76,175) ​ (1,501,503) Exchange differences ​ — ​ (2,968) ​ — ​ (610) ​ (725) ​ - ​ - ​ - ​ (4,303) Net book amount — ​ 226,943 ​ 2,231 ​ 27,041 ​ 45,389 ​ 289,161 ​ 92,341 ​ 4,088 ​ 687,194 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Application and platform ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contributed ​ ​ ​ ​ ​ ​ ​ Development ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ by Ping ​ Developed ​ ​ ​ Purchased ​ costs in ​ ​ ​ Business ​ ​ ​ ​ ​ An Group internally Acquired Software progress Goodwill license Others Total ​ RMB’000 RMB’000 ​ RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Opening net book amount ​ — ​ 226,943 ​ 2,231 ​ 27,041 ​ 45,389 ​ 289,161 ​ 92,341 ​ 4,088 ​ 687,194 Additions ​ — ​ — ​ — ​ 927 ​ 44,950 ​ — ​ — ​ — ​ 45,877 Write-off ​ — ​ (6,371) ​ — ​ — ​ (3,837) ​ — ​ — ​ — ​ (10,208) Transfer ​ — ​ 58,528 ​ — ​ — ​ (58,528) ​ — ​ — ​ — ​ — Amortization ​ — ​ (110,801) ​ (2,231) ​ (15,729) ​ — ​ — ​ (31,315) ​ (2,045) ​ (162,121) Exchange differences ​ — ​ 7,907 ​ — ​ 582 ​ 1,205 ​ — ​ — ​ — ​ 9,694 Closing net book amount ​ — ​ 176,206 ​ — ​ 12,821 ​ 29,179 ​ 289,161 ​ 61,026 ​ 2,043 ​ 570,436 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost ​ 690,910 ​ 773,332 ​ 61,078 ​ 149,734 ​ 28,699 ​ 289,161 ​ 155,492 ​ 80,263 ​ 2,228,669 Accumulated amortization ​ (690,910) ​ (602,065) ​ (61,078) ​ (136,885) ​ — ​ — ​ (94,466) ​ (78,220) ​ (1,663,624) Exchange differences ​ — ​ 4,939 ​ — ​ (28) ​ 480 ​ — ​ — ​ — ​ 5,391 Net book amount ​ — ​ 176,206 ​ — ​ 12,821 ​ 29,179 ​ 289,161 ​ 61,026 ​ 2,043 ​ 570,436 ​ 13 Intangible assets (Continued) The Group assesses at each reporting date whether there is an indication that intangible assets may be impaired. During the year ended December 31, 2022, impairment charge of RMB6,371,000 and RMB3,837,000 has been charged to cost of revenue and research and development expenses, respectively. The impairment charge was charged against development costs which were in progress for certain application and platform developed internally, following a decision to reduce the output of certain products. During the years ended December 31, 2020, 2021 and 2022, the amount of amortization charged to cost of revenue, research and development expenses and general and administrative expenses are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, Amortization of intangible assets ​ 2020 ​ 2021 ​ 2022 ​ RMB’000 RMB’000 RMB’000 ​ ​ ​ ​ ​ ​ ​ Cost of revenue 275,479 ​ 297,406 ​ 146,466 Research and development expenses 3,812 ​ 3,396 ​ 6,282 General and administrative expenses 3,406 ​ 1,972 ​ 9,373 ​ 282,697 ​ 302,774 ​ 162,121 ​ (a) Impairment tests for goodwill Goodwill arises from the Group’s acquisitions of Vantage Point Technology on July 31, 2018, BER Technology on June 30, 2019, and View Foundation on August 30, 2019. The goodwill of the Group is attributable to the acquired workforce and synergies expected to be derived from combining with the operations of the Group. During the year ended December 31, 2021 and 2022, the goodwill is regarded as attributable to the CGU of Technology Solutions segment. The Group carries out its impairment testing on goodwill by comparing the recoverable amounts of groups of CGUs to their carrying amounts. The management did the value-in-use calculations to determine the recoverable amounts. Value-in-use is calculated based on discounted cash flows. The discounted cash flows calculations of group of CGUs use cash flow projection developed based on financial budgets approved by management of the Group, after considering the current and historical business performance, the future business plan and market data. The significant assumptions used for value-in-use calculations are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ ​ 2021 2022 ​ ​ ​ RMB'000 ​ RMB'000 ​ ​ ​ ​ ​ ​ Revenue growth rate ​ 10%-24 % -15%-13 % Profit Margin ​ -24%-15 % -15%-10 % Long term growth rate 2 % 2 % Pre-tax discount rate ​ 16.30 % 17.50 % Recoverable amount of the CGU exceeding its carrying amount (RMB’000) 3,191,952 ​ 781,499 ​ ​ 13 Intangible assets (Continued) (a) Impairment tests for goodwill (Continued) For the year ended December 31, 2021, the performance of the Technology Solution segment have generally been in line with management’s expectations. In addition, the industry in which the Group operated and the market and regulatory environment were also largely stable. Hence, there were no significant changes in the operating risk, the renew growth rate and expected returns required by investors, which have resulted in relatively stable significant assumptions for the year ended December 31, 2021. With the impact of general economic environment, the business development of the Group, global socio-political conditions, pandemics outbreaks and changes in investors’ expected return, the expected revenue growth rate decreased and the discount rates increased in 2022, therefore the headroom decreased accordingly. The following table sets forth the impact of reasonable possible changes in each of the significant assumptions, with all other variables held constant, of goodwill impairment testing at the dates indicated. ​ ​ ​ ​ ​ ​ Possible changes of significant assumptions ​ Recoverable amount of the CGU ​ ​ exceeding its carrying amount ​ ​ Year ended December 31, ​ 2021 2022 ​ RMB ’ 000 RMB ’ 000 ​ ​ ​ ​ ​ Revenue growth rate decrease by 5% 1,325,839 373,790 Profit margin decrease by 1% ​ 2,532,835 ​ 459,556 Long term growth rate decrease by 1% 2,741,710 669,058 Pre-tax discount rate increase by 1% 2,594,933 616,950 ​

Investments accounted for using

Investments accounted for using the equity method	12 Months Ended
	Dec. 31, 2022
Investments accounted for using the equity method
Investments accounted for using the equity method	14 Investments accounted for using the equity method ​ (a) Investment in associate ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ RMB’000 RMB’000 RMB’000 At beginning of year 115,124 ​ 172,757 ​ 184,907 Additions 60,000 ​ — ​ — Share of (losses)/gain of associate (4,878) ​ 12,150 ​ 25,291 Gain on dilution of interest in associate (Note 8) 2,511 ​ — ​ — ​ ​ 172,757 ​ 184,907 ​ 210,198 Less: impairment loss allowance ​ — ​ — ​ (10,998) At end of year 172,757 ​ 184,907 ​ 199,200 (i) On March 28, 2017, Shanghai OneConnect set up Pingan Puhui Lixin Asset Management Co., Ltd. (“Puhui Lixin”) with Pingan Puhui Enterprise Management Co., Ltd. (“Puhui Management”), a subsidiary of Lufax, by investing a capital amount of RMB 40,000,000 . In January 2019, Shanghai OneConnect made an additional capital injection of RMB 100,000,000 into Puhui Lixin. On February 20, 2020, Puhui Management made another additional capital injection of RMB 40,000,000 into Puhui Lixin. Accordingly, the Group’s equity interests in the investee were diluted from 35 % to 31.82 %, resulting in a dilution gain amounting to RMB 2,511,000 . In March 2020, Shanghai OneConnect made an additional capital injection of RMB 60,000,000 into Puhui Lixin, and the Group’s equity interests in the investee were increased to 40 %. ​ 14 Investments accounted for using the equity method (Continued) ​ (a) Investment in associate (Continued) On November 24, 2022, Shanghai OneConnect entered into the Equity Transfer Agreement with Puhui Management, pursuant to which Shanghai OneConnect conditionally agreed to sell, and Puhui Management conditionally agreed to purchase, the Group’s 40% equity interest in Puhui Lixin at a consideration of RMB199,200,000. Upon the completion, Shanghai OneConnect will no longer hold any equity interest in Puhui Lixin. As at December 31, 2022, the aforementioned transaction was subject to the extraordinary general meeting’s approval. Impairment charges on associates of RMB10,998,000 was recognized based on the expected consideration of the transaction. (ii) Summarised financial information for associate ​ ​ ​ ​ ​ ​ ​ ​ Summarised balance sheet ​ As at December 31, ​ 2020 2021 2022 ​ ​ RMB ’ 000 ​ RMB ’ 000 ​ RMB ’ 000 ​ ​ ​ ​ ​ ​ ​ Total assets 423,148 1,075,852 1,686,575 Total liabilities (60,650) (682,979) (1,230,475) Net assets 362,498 392,873 456,100 ​ ​ ​ ​ ​ ​ ​ ​ ​ Summarised income statement ​ For the year ended December 31, ​ 2020 2021 2022 ​ ​ RMB ’ 000 ​ RMB ’ 000 ​ RMB ’ 000 ​ ​ ​ ​ ​ ​ ​ ​ Operating income 51,690 96,372 144,762 ​ Profit or loss from continuing operations (13,473) 30,375 63,228 ​ ​ ​ ​ ​ ​ ​ ​ ​ Group ’ 40 % 40 % 40 % Group’s share in net assets 144,999 157,149 182,440 ​ Goodwill 27,758 27,758 27,758 ​ ​ 172,757 184,907 210,198 ​ Less: impairment charges on associates — — (10,998) ​ Carrying amount 172,757 184,907 199,200 ​ ​ (b) Investment in joint venture ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ ​ ​ ​ ​ ​ ​ At beginning of year ​ 3,705 ​ 2,976 ​ 439 Additions ​ 2,040 ​ — ​ — Share of losses of joint venture ​ (2,924) ​ (2,204) ​ (439) Exchange difference ​ 155 ​ (333) ​ — At end of year ​ 2,976 ​ 439 ​ — ​ On August 23, 2019, the Group entered into an investment in SBI OneConnect Japan Co., Ltd. (“SBI Japan”) with SBI Holdings, Inc., (“SBI”) by investing a capital of RMB4,321,000 (JPY65,100,000), and held the equity interest as to 31%. The Group shares control with SBI and accounts for the investment as a joint venture. In October 2021, the Company disposed of the investment to SBI at no consideration as it was fully impaired considering accumulated losses. 14 Investments accounted for using the equity method (Continued) (b) Investment in joint venture (Continued) ​ The Group entered into an agreement of setting up Financial Open Portal (Guangxi) Cross-border Financial Digital Co., Ltd. (“Open Portal Guangxi”) with Digital Guangxi Group Co., Ltd. (“Digital Guangxi”) on April 10, 2020. The Group made a capital injection of RMB2,040,000 on July 10, 2020. The Group and Digital Guangxi owned the equity interest in Open Portal Guangxi as to 51% and 49%, respectively. The Group shares control with Digital Guangxi and accounts for the investment as a joint venture. The decisions on major operational and financial activities require the unanimous consent of the Group and Digital Guangxi pursuant to the provisions of the article of association of Open Portal Guangxi. ​

Financial instruments by catego

Financial instruments by category	12 Months Ended
	Dec. 31, 2022
Financial instruments by category
Financial instruments by category	15 Financial instruments by category The Group holds the following financial instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ Note 2021 2022 ​ ​ ​ RMB’000 RMB’000 Financial assets ​ ​ ​ Financial assets at amortized cost ​ ​ ​ - Trade receivables 18 891,174 940,989 - Prepayments and other receivables (excluding non-financial asset items) 19 543,538 816,179 - Financial assets measured at amortized cost from banking operations ​ 20 ​ 13,385 ​ 44 - Restricted cash and time deposits over three months 22 1,060,427 343,814 - Cash and cash equivalents 23 1,399,370 1,907,776 Financial assets measured at fair value through other comprehensive income (FVOCI) 16 1,122,998 2,054,541 Financial assets at fair value through profit or loss (FVPL) 21 2,071,653 690,627 Derivative financial asset ​ ​ ​ ​ ​ ​ - Held at FVPL ​ 31 ​ — ​ 56,363 Total ​ 7,102,545 6,810,333 ​ ​ ​ ​ ​ ​ ​ Financial liabilities ​ ​ ​ Liabilities at amortized cost ​ ​ ​ - Trade and other payables (excluding non-financial liability items) ​ 1,464,750 1,355,329 - Short-term borrowings 28 815,260 289,062 - Customer deposits ​ 29 ​ 1,350,171 ​ 1,929,183 - Other financial liablilties from virtual bank ​ 30 ​ — ​ 89,327 Derivative financial liability ​ ​ ​ ​ - Held at FVPL 31 190,971 9,568 Total ​ 3,821,152 3,672,469 ​

Financial assets at fair value

Financial assets at fair value through other comprehensive income	12 Months Ended
	Dec. 31, 2022
Financial assets measured at fair value through other comprehensive income.
Financial assets at fair value through other comprehensive income	16 Financial assets measured at fair value through other comprehensive income ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ RMB’000 RMB’000 ​ ​ ​ ​ ​ Loans and advances to customers ​ 1,103,460 ​ 1,608,402 Equity securities (Note a) 3,204 3,204 Debt securities ​ 16,334 ​ 442,935 ​ ​ 1,122,998 ​ 2,054,541 ​ ​ ​ ​ ​ Less: Non-current financial asset measured at fair value through other comprehensive income ​ (640,501) ​ (821,110) ​ ​ 482,497 ​ 1,233,431 (a) On August 4, 2016, the Group acquired 5% equity interest in Fujian Exchange Settlement Centre Co., Ltd. ( 福建交易場所清算中心股份有限公司

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases
Leases	17 Leases (a) Amounts recognized in the consolidated balance sheet ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Right ‑ of ‑ use assets (Note 12) ​ ​ ​ ​ - Properties 144,001 89,574 ​ ​ ​ ​ ​ Lease liabilities (Note 27) ​ ​ - Non current 97,473 44,553 - Current 57,417 47,030 ​ 154,890 91,583 ​ Additions to the right-of-use assets during the years ended December 31, 2021 and 2022 were RMB118,030,000 and RMB76,534,000, respectively. The weighted average lessee’s incremental borrowing rate applied to the lease liabilities on December 31, 2021 and 2022 was 4.84% and 4.79%. ​ 17 Leases (Continued) (b) Amounts recognized in the consolidated statement of profit or loss ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ ​ 2020 ​ 2021 ​ 2022 ​ RMB’000 RMB’000 RMB’000 Depreciation charge of right‑of‑use assets 97,924 ​ 88,974 ​ 75,519 Interest expenses (included in finance cost) 7,736 ​ 5,803 ​ 7,578 ​ 105,660 ​ 94,777 ​ 83,097 ​ The total cash outflow for leases in 2020, 2021 and 2022 were RMB101,807,000, RMB97,551,000 and RMB79,618,000, respectively. Expenses recognized in relation to short-term leases for the years ended December 31, 2020, 2021 and 2022 amounted to RMB810,000, RMB1,412,000, and RMB2,884,000, respectively.

Trade receivables

Trade receivables	12 Months Ended
	Dec. 31, 2022
Trade receivables
Trade receivables	18 Trade receivables ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ RMB’000 RMB’000 Trade receivables 934,152 998,036 Less: impairment loss allowance (Note 4.1(b)) (42,978) (57,047) ​ 891,174 940,989 ​ Trade receivables and their aging analysis, based on recognition date, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB ’ 000 ​ RMB ’ 000 ​ ​ ​ ​ ​ Up to 1 year 897,114 932,479 1 to 2 years 22,920 42,752 2 to 3 years 8,026 13,857 Above 3 years 6,092 8,948 ​ 934,152 998,036 ​

Prepayments and other receivabl

Prepayments and other receivables	12 Months Ended
	Dec. 31, 2022
Prepayments and other receivables
Prepayments and other receivables	19 Prepayments and other receivables ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Deposit receivable * ​ 539,625 ​ 776,481 Value-added-tax deductible 53,437 143,338 Advance to suppliers 93,230 71,755 Advance to staff 42,343 47,332 Receivables for value-added-tax paid on behalf of wealth management products 6,881 455 Others 20,119 46,519 ​ ​ ​ ​ ​ Less: impairment loss allowance (2,968) (7,276) ​ 752,667 1,078,604 ​ * Deposit receivable mainly represents deposit paid to the Group’s service vendors according to the contractual agreements and such receivables will contractually be repaid within one year. ​ (a) Movements in the impairment loss allowance of prepayments and other receivables are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Beginning of the year ​ (1,332) ​ (3,349) ​ (2,968) (Additions)/Reversals ​ (2,569) ​ 2 ​ (4,308) Write-off ​ 536 ​ 365 ​ — Exchange differences ​ 16 ​ 14 ​ — End of the year (3,349) (2,968) (7,276) ​

Financial assets measured at am

Financial assets measured at amortized cost from virtual bank	12 Months Ended
	Dec. 31, 2022
Financial assets measured at amortized cost from virtual bank
Financial assets measured at amortized cost from virtual bank	20 Financial assets measured at amortized cost from virtual bank ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Loans and advances to customers 13,575 44 Less: expected credit loss provision (190) — ​ 13,385 44 Less: non-current portion Loans and advances to customers (674) — ​ 12,711 44 ​ The balance represents financial assets measured at amortized cost carried out by OneConnect Bank, a wholly owned subsidiary from the Group, since 2020.

Financial assets at fair valu_2

Financial assets at fair value through profit or loss	12 Months Ended
	Dec. 31, 2022
Financial assets at fair value through profit or loss.
Financial assets at fair value through profit or loss	21 Financial assets at fair value through profit or loss ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Contingent refundable consideration ​ 676 ​ — Wealth management products ​ 2,070,977 ​ 690,627 ​ ​ 2,071,653 ​ 690,627 ​ As at December 31, 2021 and 2022, out of the wealth management products which the Group invested in, RMB2,070,977,000 and RMB690,627,000 were issued by subsidiaries of Ping An Group which are redeemable upon request by the holders, respectively.

Restricted cash and time deposi

Restricted cash and time deposits over three months	12 Months Ended
	Dec. 31, 2022
Restricted cash and time deposits over three months
Restricted cash and time deposits over three months	22 Restricted cash and time deposits over three months ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Pledged bank deposits ​ 1,043,718 ​ 198,320 Accrued interests ​ 6,444 1,238 Time deposits with initial terms over three months ​ 10,265 ​ 144,256 ​ ​ 1,060,427 343,814 ​ As at December 31, 2021, RMB670,022,000 (USD105,090,000) of the bank deposits had been pledged for short-term borrowings of the Group with weighted average interest rate of 0.94% per annum, RMB368,866,000 (USD57,855,000) had been pledged for currency swaps, and RMB4,830,000 had been pledged for business guarantees. As at December 31, 2022, RMB192,989,000 (USD27,710,000) were pledged for currency swaps, and RMB5,331,000 was pledged for business guarantee.

Cash and cash equivalents

Cash and cash equivalents	12 Months Ended
	Dec. 31, 2022
Cash and cash equivalents.
Cash and cash equivalents	23 Cash and cash equivalents ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Cash on hand ​ 12 ​ 12 Cash at central bank ​ 575,044 ​ 214,768 Cash at banks ​ 824,314 1,692,996 ​ ​ 1,399,370 1,907,776 ​ ​ ​ ​ ​ ​ ​ ​ At December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 USD ​ 72,093 ​ 313,559 RMB ​ 554,781 1,045,135 HKD ​ 763,126 ​ 530,861 SGD ​ 7,335 13,821 IDR ​ 473 ​ 1,680 MYR ​ 164 ​ 1,585 PHP ​ 1,398 ​ 1,135 ​ ​ 1,399,370 1,907,776 ​

Share capital

Share capital	12 Months Ended
	Dec. 31, 2022
Share capital
Share capital	24 Share capital ​ ​ ​ ​ ​ ​ ​ Number of shares USD Authorized ​ ​ ​ ​ Ordinary shares of USD0.00001 at December 31, 2020, 2021 and 2022 5,000,000,000 50,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equivalent ​ ​ Number of shares ​ USD ​ to RMB Issued ​ ​ ​ ​ ​ ​ Ordinary shares of USD0.00001 at December 31, 2017 900,000,000 9,000 59,838 Newly issued ordinary shares (Note a) 99,999,999 1,000 6,331 Ordinary shares of USD0.00001 at December 31, 2018 999,999,999 10,000 66,169 Newly issued ordinary shares (Note b) ​ 3,720,665 ​ 37 ​ 257 Newly issued ordinary shares upon initial public offering (Note c) ​ 93,600,000 ​ 936 ​ 6,549 Ordinary shares of USD0.00001 at December 31, 2019 1,097,320,664 10,973 72,975 Newly issued ordinary shares (Note d) ​ 72,660,000 ​ 727 ​ 5,033 Surrendered ordinary shares (Note e) ​ (3) ​ — ​ — Ordinary shares of USD0.00001 at December 31, 2020 1,169,980,661 11,700 78,008 Surrendered ordinary shares (Note f) ​ (8) ​ — ​ — Ordinary shares of USD0.00001 at December 31, 2021 and 2022 ​ 1,169,980,653 ​ 11,700 ​ 78,008 (a) The Company completed its Round A investments (“Round A Investments”) in April 2018 with 12 investors. 99,999,999 ordinary shares were issued to the Round A Investors at a price of USD7.5 per share for an aggregate consideration of approximately USD750 million (approximately RMB4,750,965,000). These shares rank pari passu in all respects with the shares then in issue. (b) On March 11, 2019, the Company issued 1,748,501 ordinary shares to National Dream Limited, the offshore entity of Vantage Point Technology, for a total subscription price of USD13,114,000 (approximately RMB88,030,000) pursuant to a share subscription agreement entered into in July 2018. On November 26, 2019, the Company issued 1,267,520 ordinary shares to Great Lakes Limited, the offshore entity of View Foundation’s selling shareholder, for a total subscription price of USD9,506,400 (approximately RMB66,877,000) pursuant to a share subscription agreement entered into in August, 2019. On November 27, 2019, the Company issued 563,714 and 140,930 ordinary shares to Blossom View Limited and Gold Planning Limited, respectively, which are the offshore entities designated by certain selling shareholders of BER Technology, for a total subscription price of USD5,284,830 (approximately RMB37,175,000) pursuant to a share subscription agreement entered into in September, 2019. (c) On December 13, 2019, the Company completed its IPO on the New York Stock Exchange. In the offering, 31,200,000 ADSs, representing 93,600,000 ordinary shares, were newly issued. (d) On January 14, 2020, the over-allotment options for the IPO were partially exercised and an addition of 3,520,000 ADSs were newly issued, which represented 10,560,000 ordinary shares. On August 17, 2020, the Company completed its underwritten public offerings of 18,000,000 ADSs issued and 2,700,000 ADSs issued pursuant to the over-allotment options, which totally represented 62,100,000 ordinary shares. (e) On December 11, 2020 and December 24, 2020, the Company bought back and cancelled 3 ordinary shares from Round A Investors. (f) On April 1, 2021 and April 2, 2021, the Company bought back and cancelled 8 ordinary shares from Round A Investors.

Other reserves

Other reserves	12 Months Ended
	Dec. 31, 2022
Other reserves
Other reserves	25 Other reserves ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign ​ ​ ​ ​ ​ ​ ​ ​ Share ‑ based ​ currency ​ ​ ​ ​ ​ ​ Recapitalization ​ Share ​ compensation ​ translation ​ ​ ​ ​ ​ ​ reserve ​ premium ​ reserve ​ differences ​ Others ​ Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at January 1, 2020 1,200,000 ​ 6,929,485 ​ 84,491 ​ 475,295 ​ (227,634) ​ 8,461,637 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ -Foreign currency translation differences — ​ — ​ — ​ (608,427) ​ — ​ (608,427) -Fair value changes on financial assets measured at fair value through other comprehensive income ​ — ​ — ​ — ​ — ​ (39) ​ (39) Share premium from issuance of ordinary shares (a) ​ — ​ 2,697,674 ​ — ​ — ​ — ​ 2,697,674 Share-based payments： ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ - Value of employee services and business cooperation arrangements — ​ — ​ 89,652 ​ — ​ — ​ 89,652 - Vesting of shares under Restricted Share Unit Scheme — ​ — ​ (566) ​ — ​ — ​ (566) As at December 31, 2020 1,200,000 ​ 9,627,159 ​ 173,577 ​ (133,132) ​ (227,673) ​ 10,639,931 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ -Foreign currency translation differences ​ — ​ — ​ — ​ (152,542) ​ — ​ (152,542) -Fair value changes on financial assets measured at fair value through other comprehensive income ​ — ​ — ​ — ​ — ​ (1,812) ​ (1,812) Share-based payments： ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ - Value of employee services and business cooperation arrangements(Note 26) ​ — ​ — ​ 25,409 ​ — ​ — ​ 25,409 - Exercise of shares under share option Scheme ​ ​ ​ ​ ​ 2,345 ​ ​ ​ ​ ​ 2,345 - Vesting of shares under Restricted Share Unit Scheme ​ — ​ — ​ (700) ​ — ​ — ​ (700) As at December 31, 2021 ​ 1,200,000 ​ 9,627,159 ​ 200,631 ​ (285,674) ​ (229,485) ​ 10,512,631 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ -Foreign currency translation differences ​ — ​ — ​ — ​ 426,145 ​ — ​ 426,145 -Fair value changes on financial assets measured at fair value through other comprehensive income ​ — ​ — ​ — ​ — ​ 5,324 ​ 5,324 Share-based payments： ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ - Value of employee services and business cooperation arrangements (Note 26) ​ — ​ — ​ 13,361 ​ — ​ — ​ 13,361 - exercise of shares under share option Scheme ​ — ​ — ​ 331 ​ — ​ — ​ 331 - Vesting of shares under Restricted Share Unit Scheme ​ — ​ — ​ (4,720) ​ — ​ — ​ (4,720) As at December 31, 2022 ​ 1,200,000 ​ 9,627,159 ​ 209,603 ​ 140,471 ​ (224,161) ​ 10,953,072 (a) The excess of the net proceeds of approximately RMB225,727,710 received from the over-allotment options for the IPO over the aggregate par value of the ordinary shares of the Company at approximately RMB728 (Note 24(d)), being RMB225,727,000, was credited to the share premium account of the Company. The excess of the net proceeds of approximately RMB2,471,951,645 received from the underwritten public offerings over the aggregate par value of the ordinary shares of the Company at approximately RMB4,305 (Note 24(d)), being RMB2,471,947,000, was credited to the share premium account of the Company. ​

Share-based payments

Share-based payments	12 Months Ended
	Dec. 31, 2022
Share-based payments
Share based payments	26 Share-based payments For the purpose of establishing the Group’s share incentive scheme, Xin Ding Heng Limited (“Xin Ding Heng”) was set up in 2017 as a special purpose vehicle to indirectly hold 66,171,600 ordinary shares of the Company. As the Company has the power to govern the relevant activities of Xin Ding Heng and can derive benefits from the services to be rendered by the grantees, the directors of the Company consider that it is appropriate to consolidate Xin Ding Heng. In September 2020, the Company purchased at par value of the 66,171,600 ordinary shares indirectly held by Xin Ding Heng and deposited these shares to the depositary of its ADS program. The aggregate consideration of RMB88,280,000 for 66,171,600 shares had been recognized as “shares held for share incentive scheme” before the respective shares were effectively transferred to guarantees under share incentive scheme. On November 7, 2017, equity-settled share-based compensation plan (“the Share Option Scheme”) was set up with the objective to recognize and reward the contribution of eligible directors, employees and other persons (collectively, the “Grantees”) for the growth and developments of the Group. On September 10, 2019, the Board of Directors of the company approved to amend and restate the equity-settled share-based compensation plan to supplement the Share Option Scheme with performance-based shares to grant to the Grantees (“the Restricted Share Units Scheme”). The 66,171,600 shares reserved for the share incentive scheme comprise the options previously granted under the Share Option Scheme and the remaining shares for grant under the Restricted Share Units Scheme. Both the Share Option Scheme and the Restricted Share Units Scheme are valid and effective for 10 years from the grant date. Share-based compensation expenses for the years ended December 31, 2020, 2021 and 2022 were allocated as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 -Cost of revenue ​ 6,904 ​ 935 ​ — -Research and development expenses ​ 26,635 ​ 5,185 ​ — -Selling and marketing expenses ​ 21,049 ​ 2,854 ​ 1,002 -General and administrative expenses ​ 35,064 ​ 16,435 ​ 12,359 Total ​ 89,652 ​ 25,409 ​ 13,361 ​ ​ ​ ​ ​ ​ ​ Value of employee's services (Note 7) ​ 74,980 ​ 22,618 ​ 13,176 Value of non-employee's services ​ 14,672 ​ 2,791 ​ 185 Total ​ 89,652 ​ 25,409 ​ 13,361 ​ 26 Share-based payments (Continued) (a) Share Option Scheme Subject to the Grantee continuing to be a service provider, 100% of these options will be vested over 4 years upon fulfilling the non-market performance conditions prescribed in the grantee agreement. The exercisable period of options starts no earlier than 12 months after the Company successfully completes an initial public offering and the Company’s shares get listed in the stock exchange (“IPO and Listing”) and no later than 8 years from the grant date. The vesting date is determined by the Board of Directors of the Company. Movements in the number of share options granted to employees are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of share options ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 At the beginning of the year ​ 24,470,325 ​ 19,459,994 ​ 12,725,995 Exercised ​ — ​ (5,181,306) ​ (621,930) Forfeited (5,010,331) (1,552,693) (1,966,721) At the end of the year 19,459,994 12,725,995 10,137,344 ​ For the outstanding share options, the weighted-average exercise price was RMB24.85 and RMB21.00 per share and the weighted-average remaining contractual life was 4.36 and 3.28 years, respectively, as of December 31, 2021 and 2022, respectively. Share options outstanding at the balance sheet dates have the following expiry dates and exercise prices. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of share options ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, Grant Year Expiry Year Exercise price Fair value of options ​ 2021 2022 2017 ​ 2027 ​ RMB1.33 ​ RMB0.62 ​ 1,109,682 ​ 977,951 2017 2027 RMB2.00 RMB0.52 ​ 5,785,221 5,295,021 2018 2028 RMB52.00 RMB26.00 ​ 4,704,219 3,044,462 2019 ​ 2029 ​ RMB52.00 ​ RMB23.42 ​ 1,126,873 ​ 819,910 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12,725,995 10,137,344 ​ The Company have used the discounted cash flow method to determine the underlying equity fair value of the Company to determine the fair value of the underlying ordinary share before its IPO. Key assumptions, such as discount rate and projections of future performance, are required to be determined by the Company with best estimate. Based on fair value of the underlying ordinary share, the Company have used Binomial option-pricing model to determine the fair value of the share option as at the grant date. Key assumptions are set as below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ November 7, November 8, June 1, Date of grant ​ 2017 ​ 2018 ​ 2019 Discount rate 24.0 % 17.0 % 17.0 % Risk‑free interest rate 4.0 % 4.0 % 3.0 % Volatility 52.0 % 51.0 % 46.0 % Dividend yield 0.0 % 0.0 % 0.0 % ​ 26 Share-based payments (Continued) (a) Share Option Scheme (Continued) The Binomial Model requires the input of highly subjective assumptions. The risk-free rate for periods within the contractual life of the option is based on the China Treasury yield curve in effect at the time of grant. The expected dividend yield was estimated based on the Company’s expected dividend policy over the expected life of the options. The Company estimates the volatility of its ordinary shares at the respective dates of grant based on the historical volatility of similar U.S. public companies for a period equal to the expected life preceding the grant date. ​ (b) Restricted Share Units Scheme Subject to the Grantee continuing to be a service provider, 100% of these restricted share units will be vested over 4 years upon fulfilling the service conditions and non-market performance conditions prescribed in the grantee agreement. Movements in the number of restricted share units granted to employees are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of restricted share units ​ ​ For the year ended December 31, ​ 2020 2021 2022 ​ ​ ​ ​ ​ ​ ​ At the beginning of the year 2,306,000 1,751,702 16,552,829 Granted 470,000 17,033,120 28,745,900 Vested ​ (424,256) ​ (524,358) ​ (3,538,551) Forfeited (600,042) (1,707,635) (5,528,084) At the end of the year 1,751,702 16,552,829 36,232,094 ​ 26 Share-based payments (Continued) (b) Restricted Share Units Scheme (Continued) Restricted share units outstanding at the balance sheet dates have the following expiry dates and fair value prices. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of restricted share units ​ ​ ​ ​ ​ ​ As at December 31, ​ ​ ​ 2021 2022 ​ ​ ​ ​ Fair value of restricted share units ​ ​ ​ ​ Grant Year ​ Expiry Year ​ RMB ​ ​ ​ ​ 01/09/2019 01/09/2029 35.22 ​ 545,383 204,503 01/01/2020 01/01/2030 16.18 ​ 18,000 11,509 01/04/2020 01/04/2030 16.98 ​ 82,500 45,008 01/07/2020 01/07/2030 38.67 ​ 17,250 1,502 01/06/2021 01/06/2031 13.69 ​ 503,076 248,043 01/06/2021 01/06/2031 14.31 ​ 226,000 7,502 01/06/2021 01/06/2031 14.93 ​ 1,279,800 112,500 01/07/2021 01/07/2031 15.16 ​ 252,000 147,751 01/09/2021 01/09/2031 5.53 ​ 7,346,000 4,198,965 01/10/2021 01/10/2031 5.25 ​ 448,000 116,593 01/10/2021 01/10/2031 3.91 ​ 2,820 — 01/10/2021 01/10/2031 4.68 ​ 5,832,000 3,973,655 02/01/2022 ​ 02/01/2032 ​ 2.40 ​ — 126,862 02/01/2022 ​ 02/01/2032 ​ 2.41 ​ — ​ 1,740,001 02/01/2022 ​ 02/01/2032 ​ 3.29 ​ — ​ 567,700 02/01/2022 ​ 02/01/2032 ​ 2.64 ​ — ​ 300,000 02/04/2022 ​ 02/04/2032 ​ 1.78 ​ — ​ 130,000 02/07/2022 ​ 02/07/2032 ​ 2.72 ​ — ​ 40,000 02/10/2022 ​ 02/10/2032 ​ 0.98 ​ — ​ 80,000 16/12/2022 ​ 16/12/2032 ​ 0.81 ​ — ​ 24,180,000 ​ ​ ​ ​ ​ ​ 16,552,829 ​ 36,232,094 ​ The Company have used the discounted cash flow method to determine the underlying equity fair value of the Company to determine the fair value of the underlying ordinary share before its IPO. Key assumptions, such as discount rate and projections of future performance, are required to be determined by the Company with best estimate. Based on fair value of the underlying ordinary share, the Company have used the Monte Carlo model to determine the fair value of the restricted share units as at the grant date. Key assumptions are set as below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ Date of grant 2020 ​ 2021 ​ 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ Discount rate * 15.0 % 15.0 % 15.0 % Risk-free interest rate 2.0%~3.0 % 2.0%~3.0 % 2.0%~3.0 % Volatility 43.0%~49.0 % 43.0%~49.0 % 43.0%~49.0 % Dividend yield 0.0 % 0.0 % 0.0 % * Applicable for the restricted share units granted in September 2019 26 Share-based payments (Continued) (b) Restricted Share Units Scheme (Continued) The Monte Carlo model requires the input of highly subjective assumptions. The risk-free rate for periods within the contractual life of the restricted share units is based on the China Treasury Bond Yield Curve in effect at the time of grant. The expected dividend yield was estimated based on the Company’s expected dividend policy over the expected life of the restricted share units. The Company estimates the volatility of its ordinary shares at the date of grant based on the historical volatility of similar US public companies for a period equal to the expected life preceding the grant date. (c) Share Repurchase In 2022, the board of directors of the Company approved a new share repurchase program in which the Company may purchase its own ADSs for award grant purpose. For the year ended December 31, 2022, the Company repurchased 8.02 million ADSs for a total cost of RMB74,992,000.

Trade and other payables

Trade and other payables	12 Months Ended
	Dec. 31, 2022
Trade and other payables.
Trade and other payables	27 Trade and other payables ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Trade payables (i) ​ ​ Due to related parties ​ 747,449 442,007 Due to third parties ​ 354,279 311,610 ​ ​ 1,101,728 753,617 ​ ​ ​ ​ ​ Redemption liability (ii, iii) ​ 271,525 243,937 Accrued expenses ​ 209,676 516,240 Security deposits ​ 56,236 ​ 160,814 Lease liabilities (Note 17(a)) ​ 154,890 91,583 Amounts payable for purchase of shares held for share incentive scheme (Note 26) ​ 88,280 88,280 Other tax payables ​ 44,716 51,913 Amounts due to related parties ​ 431,351 644,900 Service fees refundable ​ 9,809 — Others ​ 82,722 112,822 ​ ​ 2,450,933 2,664,106 ​ ​ ​ ​ Less: non - current portion ​ Redemption liability ​ (128,081) — Lease liabilities ​ (97,473) (44,553) Amounts payable for purchase of shares held for share incentive scheme (Note 26) ​ (88,280) (88,280) ​ ​ (313,834) ​ (132,833) ​ ​ 2,137,099 2,531,273 (i) As at December 31, 2021, and 2022, the aging of the trade payables are mainly within 1 year . ​ 27 Trade and other payables (Continued) ​ (ii) According to the shareholders agreement of BER Technology, the non-controlling shareholders shall have the right to request the Group to purchase the remaining 20% equity interests in BER Technology in an agreed period from June 30, 2022 to December 31, 2022. The purchase price was determined based on the financial performance of BER Technology and a pre-determined formula that set out in the respective shareholders agreement. Accordingly, the redemption liability of approximately RMB 44,105,000 was initially recognized by the Group upon completion of acquisition as at the present value of the estimated future cash outflows, and the same amount was debited to other reserve. The redemption liability was subsequently measured at amortized cost. On December 30, 2022, the Group entered into a share purchase agreement with non-controlling shareholders of BER Technology to acquire the remaining 20% equity interests of BER Technology after renegotiation. As at December 31, 2022, the redemption liability was remeasured at RMB 15,000,000 based on the contractual consideration, as BER Technology did not meet its financial performance conditions (Note 8 (b)). (iii) The Group wrote a put option on the remaining 48.33% equity in Vantage Point Technology. The put option provides the non-controlling shareholders of Vantage Point Technology with the right to require the Group to purchase the remaining equity interest subject to the terms and conditions of the put option. A financial liability (redemption liability) of RMB 183,569,000 was initially recognized on the acquisition date to account for the put option and other reserve of the same amount were debited accordingly. The redemption liability was subsequently measured at amortized cost. As at December 31, 2022, the redemption liability of RMB 228,937,000 was estimated based on the terms and conditions of the put option which is in the process of renegotiation as of the date of this report. ​

Short-term borrowings

Short-term borrowings	12 Months Ended
	Dec. 31, 2022
Short-term borrowings.
Short-term borrowings	28 Short-term borrowings ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Secured ​ 663,136 — Unsecured ​ 152,124 289,062 ​ ​ 815,260 289,062 ​ As at December 31, 2021, out of the secured borrowings, RMB597,400,000 were secured by restricted cash and time deposits over three months of RMB670,022,000 (Note 22), RMB9,014,000 was guaranteed by Haidian Financing Guarantee, RMB53,722,000 was guaranteed by Shenzhen HTI Financing Guarantee Co., Ltd., and RMB3,000,000 was secured by the accounts receivable that BER Technology could claim from Guilin Bank Co., Ltd. The weighted average interest rate of short-term borrowings was 3.93%, 4.61% per annum as at December 31, 2021, 2022.

Customer deposits

Customer deposits	12 Months Ended
	Dec. 31, 2022
Customer deposits
Customer deposits	29 Customer deposits ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Current and savings accounts ​ 1,350,171 ​ 243,231 Fixed deposit ​ — 1,685,952 ​ ​ 1,350,171 1,929,183 ​ It represented customer deposits held by OneConnect Bank.

Other financial liabilities fro

Other financial liabilities from virtual bank	12 Months Ended
	Dec. 31, 2022
Other financial liabilities from virtual bank
Other financial liabilities from virtual bank	30 Other financial liabilities from virtual bank ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB ’ 000 ​ RMB ’ 000 ​ ​ ​ ​ ​ Repurchase agreements — 89,327 ​ As at December 31, 2022, the repurchase agreements of OneConnect Bank amounting to RMB89,327,000 (HKD100,000,000) were secured by debt securities included in “Financial assets measured at fair value through other comprehensive income”.

Derivative financial assets and

Derivative financial assets and liabilities	12 Months Ended
	Dec. 31, 2022
Financial instruments by category
Derivative financial assets and liabilities	31 Derivative financial assets and liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ ​ 2021 ​ 2022 ​ Nominal ​ Nominal ​ ​ ​ amount ​ Fair value ​ amount ​ Fair value ​ ​ RMB’000 ​ RMB’000 Foreign exchange swaps ​ — ​ — ​ 648,404 ​ 19,279 Currency forwards ​ — ​ — ​ 741,937 ​ 37,084 Derivative financial assets ​ — ​ — ​ 1,390,341 ​ 56,363 ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange swaps ​ 2,186,865 ​ 152,005 ​ 208,938 ​ 9,568 Currency forwards ​ 1,095,958 ​ 38,966 ​ — ​ — Derivative financial liabilities ​ 3,282,823 ​ 190,971 ​ 208,938 ​ 9,568 ​

Dividends

Dividends	12 Months Ended
	Dec. 31, 2022
Dividends
Dividends	32 Dividends No dividends had been paid or declared by the Company during the years ended December 31, 2021 and 2022.

Deferred income tax

Deferred income tax	12 Months Ended
	Dec. 31, 2022
Deferred income tax
Deferred income tax	33 Deferred income tax (a) Deferred tax assets The movements of deferred tax assets were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accelerated ​ ​ ​ ​ ​ ​ amortization ​ ​ ​ ​ ​ ​ ​ ​ of intangible ​ ​ ​ ​ ​ ​ Tax losses ​ assets ​ Others ​ Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ ​ ​ ​ ​ ​ ​ ​ ​ At January 1, 2020 180,142 ​ 218,056 25,588 ​ 423,786 Recognized in the profit or loss 132,766 ​ (6,021) 14,031 ​ 140,776 At December 31, 2020 312,908 ​ 212,035 39,619 ​ 564,562 Recognized in the profit or loss ​ 116,993 ​ (5,513) ​ 7,176 ​ 118,656 At December 31, 2021 ​ 429,901 ​ 206,522 ​ 46,795 ​ 683,218 Recognized in the profit or loss 112,340 (21,274) (8,325) 82,741 At December 31, 2022 ​ 542,241 ​ 185,248 ​ 38,470 ​ 765,959 ​ (b) Deferred tax liabilities The movements of deferred tax liabilities were as follows: ​ ​ ​ ​ ​ ​ ​ Intangible ​ ​ ​ assets ​ ​ ​ ​ acquired ​ ​ ​ ​ through ​ ​ ​ ​ business ​ ​ ​ ​ combination ​ Total ​ ​ RMB’000 ​ RMB’000 At January 1, 2020 33,291 33,291 Recognized in the profit or loss (13,211) (13,211) At December 31, 2020 20,080 20,080 Recognized in the profit or loss ​ (10,219) ​ (10,219) At December 31, 2021 ​ 9,861 ​ 9,861 Recognized in the profit or loss (4,665) (4,665) At December 31, 2022 ​ 5,196 ​ 5,196 ​ (c) Offsetting of deferred tax assets and deferred tax liabilities As of December 31, 2021 and 2022, no deferred tax asset and liability was offset.

Cash flow information

Cash flow information	12 Months Ended
	Dec. 31, 2022
Cash flow information
Cash flow information	34 Cash flow information (a) Cash used in operations ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Loss before income tax (1,551,254) (1,442,608) ​ (990,173) Depreciation and amortization 421,228 438,749 ​ 281,430 Net impairment losses on financial and contract assets ​ 134,519 ​ 72,229 ​ 33,639 Net impairment losses on intangible assets ​ — ​ — ​ 10,208 (Gain)/losses on disposal of property and equipment (1,302) 266 ​ 14,490 Expected credit losses on financial guarantee contracts 62,389 — — Share-based payments expenses (Note 26) 89,652 25,409 13,361 Net losses/(gain) on derivatives (Note 8) 281,691 ​ 169,545 ​ (262,769) Net gain on financial assets at fair value through profit or loss (Note 8) (49,447) ​ (45,644) ​ (30,687) Share of losses/(gain) of associates and joint ventures (Note 14) 7,802 ​ (9,946) ​ (24,852) Gain on dilution of investment in associates (Note 14) (2,511) ​ — ​ — Impairment charges on associates ​ — ​ — ​ 10,998 Remeasurement of redemption liability ​ — ​ — ​ (37,874) Finance costs 135,321 ​ 74,743 ​ 35,168 Interest from investing activities ​ (65,858) ​ (22,983) ​ (6,646) Exchange losses/(gain) (Note 8) ​ (285,722) ​ (77,143) ​ 312,843 Changes in working capital: Trade receivables (206,372) (123,371) (63,884) Contract assets (75,778) 45,855 106,135 Prepayments and other receivables 30,933 ​ (353,480) ​ (335,419) Trade and other payable 451,688 ​ 530,095 ​ 106,952 Contract liabilities 38,570 ​ 17,032 ​ 13,365 Customer deposits ​ 405,853 ​ 944,318 ​ 579,012 Other financial liabilities from virtual bank ​ — ​ — ​ 89,327 Financial assets measured at amortized cost from virtual bank ​ (602,291) ​ 586,953 ​ 13,341 Financial assets measured at fair value through other comprehensive income from virtual bank — ​ (1,103,460) ​ (504,942) Payroll and welfare payables ​ 87,198 ​ (110,263) ​ (83,809) ​ (693,691) ​ (383,704) ​ (720,786) ​ (b) Non-cash investing and financing activities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Acquisition of right‑of‑use properties by leasing (Note 12) 38,646 118,030 76,534 ​ 34 Cash flow information (Continued) (c) Reconciliation of cash and liquid investments and gross debt This section sets out an analysis of cash and liquid investments and gross debt as of December 31, 2021 and 2022 and the movements in cash and liquid investments and gross debt for the years ended December 31, 2020, 2021 and 2022. ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Restricted cash and time deposits over three months ​ 1,060,427 343,814 Cash and cash equivalents ​ 1,399,370 1,907,776 Financial assets at fair value through profit or loss ​ 2,071,653 690,627 Lease liabilities (Note 17) ​ (154,890) (91,583) —due within one year ​ (57,417) (47,030) —due after one year ​ (97,473) (44,553) Borrowings — repayable within one year ​ (815,260) (289,062) ​ ​ 3,561,300 2,561,572 ​ ​ ​ ​ ​ Cash and liquid investments ​ 4,531,450 2,942,217 Gross debt — fixed interest rates ​ (970,150) (380,645) ​ ​ 3,561,300 2,561,572 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ assets at ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ fair value ​ Liabilities from ​ ​ ​ ​ ​ ​ ​ ​ through ​ financing activities ​ ​ ​ Restricted Cash and cash profit or Lease ​ ​ ​ ​ cash (ii) ​ equivalents ​ loss ​ liabilities ​ Borrowings ​ Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 As at January 1, 2020 3,440,289 ​ 1,077,875 ​ 1,690,967 ​ (189,689) ​ (3,218,566) ​ 2,800,876 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows (1,064,813) ​ 2,145,418 ​ (252,543) ​ 100,997 ​ 1,062,844 ​ 1,991,903 Acquisition of right-of-use assets ​ - ​ - ​ - ​ (38,646) ​ - ​ (38,646) Other Changes (i) (94,977) ​ (168,099) ​ 49,447 ​ (6,881) ​ (127,585) ​ (348,095) As at December 31, 2020 2,280,499 ​ 3,055,194 ​ 1,487,871 ​ (134,219) ​ (2,283,307) ​ 4,406,038 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows ​ (1,206,607) ​ (1,627,680) ​ 538,138 ​ 96,139 ​ 1,524,899 ​ (675,111) Acquisition of right-of-use assets ​ — ​ — ​ — ​ (118,030) ​ — ​ (118,030) Other Changes (i) ​ (13,465) ​ (28,144) ​ 45,644 ​ 1,220 ​ (56,852) ​ (51,597) As at December 31, 2021 ​ 1,060,427 ​ 1,399,370 ​ 2,071,653 ​ (154,890) ​ (815,260) ​ 3,561,300 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows ​ (788,828) ​ 433,119 ​ (1,411,713) ​ 76,734 ​ 543,501 ​ (1,147,187) Acquisition of right-of-use assets ​ — ​ — ​ — ​ (76,534) ​ — ​ (76,534) Other Changes (i) ​ 72,215 ​ 75,287 ​ 30,687 ​ 63,107 ​ (17,303) ​ 223,993 As at December 31, 2022 ​ 343,814 ​ 1,907,776 ​ 690,627 ​ (91,583) ​ (289,062) ​ 2,561,572 (i) Other changes include accrued interests, disposal, foreign currency translation differences and other non-cash movements. (ii) Cash flows include restricted cash and time deposits over three months movements recognised in cash flows from operating activities and investing activities.

Related party transactions

Related party transactions	12 Months Ended
	Dec. 31, 2022
Related party transactions
Related party transactions	35 Related party transactions The following significant transactions were carried out between the Group and its related parties during the years ended December 31, 2020, 2021 and 2022. (a) Names and relationships with related parties The following companies are related parties of the Group that had balances and/or transactions with the Group during the years ended December 31, 2020, 2021 and 2022. ​ ​ ​ ​ ​ Name of related parties Relationship with the Group Sen Rong Limited(i) ​ A shareholder that has significant influence over the Group ​ Rong Chang Limited(i) ​ A shareholder that has significant influence over the Group ​ Bo Yu ​ A shareholder that has significant influence over the Group ​ Ping An Group ​ Ultimate parent company of Bo Yu ​ Subsidiaries of Ping An Group ​ Controlled by Ping An Group ​ Puhui Lixin ​ Significant influenced by the Group ​ Open Portal Guangxi ​ Significant influenced by the Group ​ (i) Sen Rong Limited and Rong Chang Limited has entered into an acting-in-concert agreement in 2020 and an amended and restarted agreement in 2021. As a result, Rong Chang and Sen Rong as a concert group had significant influence over the Group. (b) Key management personnel compensations Key management includes directors (executive and non-executive) and senior officers. The compensations paid or payable by the Group to key management for employee services are shown below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ ​ 2020 ​ 2021 ​ 2022 ​ RMB’000 RMB’000 RMB’000 ​ ​ ​ ​ ​ ​ ​ Wages and salaries 29,115 28,163 21,123 Welfare and other benefits 1,385 772 614 Share-based payments 3,627 4,187 8,401 ​ 34,127 33,122 31,138 ​ ​ 35 Related party transactions (Continued) (c) Significant transactions with related parties ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Revenue Ping An Group and its subsidiaries* 1,730,038 ​ 2,315,220 ​ 2,526,682 Puhui Lixin 4,189 ​ — ​ — ​ 1,734,227 ​ 2,315,220 ​ 2,526,682 * The Group also provided lending solution services to third party lenders through contractual arrangements made with another subsidiary of Ping An Group, while the Group directly charged the related service fees to the subsidiary of Ping An Group. The revenue generated from such transactions for the years ended December 31, 2020, 2021 and 2022, was included in the above revenue from Ping An Group and its subsidiaries, amounted to RMB3,230,878, RMBNil and RMB Nil, respectively. Revenue generated by providing implementation and support service jointly with Ping An Technology (Shenzhen) Co., Ltd, a related party, for the years ended December 31, 2020, 2021 and 2022 amounted to RMB6,546,653, RMB8,308,537 and RMBNil, respectively. ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ ​ 2020 ​ 2021 ​ 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Purchase of services Ping An Group and its subsidiaries 1,285,595 ​ 1,534,302 1,706,436 ​ ​ ​ ​ ​ ​ ​ Net loss on disposal of property and equipment ​ ​ ​ ​ ​ ​ Ping An Group and its subsidiaries ​ — ​ — ​ (599) ​ ​ ​ ​ ​ ​ ​ Net gain from wealth management products consolidated by related parties Ping An Group and its subsidiaries 8,704 26,249 18,890 ​ ​ ​ ​ ​ ​ ​ Net( loss)/gain on derivatives Ping An Group and its subsidiaries (281,691) (169,545) 262,769 ​ ​ ​ ​ Investment income from loan to related party ​ ​ ​ ​ ​ ​ Open Portal Guangxi ​ — ​ — ​ 283 ​ ​ ​ ​ ​ ​ ​ Interest income on bank deposits Ping An Group and its subsidiaries 28,129 12,037 9,234 ​ ​ ​ ​ ​ ​ ​ Leasing payment Ping An Group and its subsidiaries 19,991 19,849 20,957 ​ ​ ​ ​ ​ ​ ​ Interest expenses Ping An Group and its subsidiaries 32,575 15,914 2,672 ​ ​ ​ ​ ​ ​ ​ Net gain on financial assets measured at fair value through other comprehensive income ​ ​ ​ ​ ​ ​ Ping An Group and its subsidiaries — — 315 35 Related party transactions (Continued) ​ (d) Year end balances with related parties ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Trade receivables ​ ​ Ping An Group and its subsidiaries (i) ​ 442,694 372,456 ​ ​ ​ ​ ​ Contract assets ​ ​ ​ Ping An Group and its subsidiaries ​ 17,746 9,876 ​ ​ ​ ​ ​ Prepayment and other receivables ​ ​ ​ Ping An Group and its subsidiaries ​ 531,327 771,137 Open Portal Guangxi (i) ​ 3,515 ​ — ​ ​ 534,842 ​ 771,137 ​ ​ ​ ​ ​ Financial assets at fair value through profit or loss (Note 21) ​ Ping An Group and its subsidiaries ​ 599,540 405,960 ​ ​ ​ ​ ​ Cash and restricted cash and time deposits over three months ​ Ping An Group and its subsidiaries ​ 1,131,585 787,916 ​ ​ ​ ​ ​ Trade and other payables ​ Ping An Group and its subsidiaries (i) ​ 1,178,438 1,086,907 Open Portal Guangxi (i) ​ 362 ​ — ​ ​ 1,178,800 ​ 1,086,907 ​ ​ ​ ​ ​ Contract liabilities ​ ​ ​ ​ Ping An Group and its subsidiaries ​ 19,018 ​ 27,517 ​ ​ ​ ​ ​ Short ‑ term borrowings ​ Ping An Group and its subsidiaries ​ 300,805 — ​ ​ ​ ​ ​ Derivative financial assets ​ Ping An Group and its subsidiaries ​ — 56,363 ​ ​ ​ ​ ​ Derivative financial liabilities ​ Ping An Group and its subsidiaries ​ 190,971 9,568 (i) The balances with related parties were unsecured, interest-free and repayable on demand.

The Group's maximum exposure to

The Group's maximum exposure to unconsolidated structured entities	12 Months Ended
	Dec. 31, 2022
The Group's maximum exposure to unconsolidated structured entities
The Group's maximum exposure to unconsolidated structured entities	36 The Group’s maximum exposure to unconsolidated structured entities The Group has determined that all of assets management products managed by the Group and its investments in wealth management products, which are not controlled by the Group, are unconsolidated structured entities. The Group invests in wealth management products managed by related parties for treasury management purposes. The Group also managed some assets management fund products as fund manager to generate fees from managing assets on behalf of other investors, mainly Ping An Group and its subsidiaries. The assets management fund products are financed by capital contribution from investors. The following table shows the Group’s maximum exposure to the unconsolidated structured entities which represents the Group’s maximum possible risk exposure that could occur as a result of the Group’s arrangements with structured entities. The maximum exposure is contingent in nature and approximates the sum of direct investments made by the Group. The direct investments made by the Group are classified as FVPL. The size of unconsolidated structured entities and the Group’s funding and maximum exposure are shown below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unconsolidated structured entities ​ ​ ​ ​ ​ ​ The Group’s ​ ​ ​ ​ ​ ​ Carrying ​ maximum ​ Interest held 31 December 2021 Size amount exposure by the Group ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ ​ Asset management products managed by the Group 1,329,453 ​ — 　 ​ — ​ Service fee Wealth management products managed by related parties ​ Note a ​ 2,070,977 ​ 2,070,977 ​ Investment income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unconsolidated structured entities ​ ​ ​ ​ ​ ​ The Group's ​ ​ ​ ​ ​ ​ Carrying ​ maximum ​ Interest held 31 December 2022 Size amount exposure by the Group ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ ​ Asset management products managed by the Group 594,058 ​ — 　 ​ — ​ Service fee Wealth management products managed by related parties ​ Note a ​ 690,627 ​ 690,627 ​ Investment income ​ Note a: These asset management products and wealth management products are sponsored by related financial institutions and the information related to size of these structured entities were not publicly available. The carrying amount is recorded in financial assets at fair value through profit or loss. Note b: The wealth management product is sponsored by Guangdong Huaxing Bank and the information related to size of the structured entity was not publicly available. The carrying amount is recorded in financial assets at fair value through profit or loss.

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2022
Contingencies
Contingencies	37 Contingencies The Group did not have any material contingent liabilities as at December 31, 2021 and 2022.

Restricted net assets

Restricted net assets	12 Months Ended
	Dec. 31, 2022
Restricted net assets
Restricted net assets	38 Restricted net assets Relevant PRC laws and regulations permit payments of dividends by the subsidiaries, the VIEs and Subsidiaries of VIEs incorporated in the PRC only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. In addition, each of the Company’s subsidiaries, the VIEs and Subsidiaries of VIEs is required to annually appropriate 10% of net after-tax income to the statutory general reserve fund prior to payment of any dividends, unless such reserve funds have reached 50% of its respective registered capital. As a result of these and other restrictions under PRC laws and regulations, the subsidiaries and the Consolidated Affiliated Entities are restricted in their ability to transfer a portion of their net assets to the Company either in the form of dividends, loans or advances of the Group’s total consolidated net assets. As at December 31, 2022, the total restricted net assets of the Company’s subsidiaries and the VIEs and Subsidiaries of VIEs incorporated in PRC and subjected to restriction amounted to approximately RMB 6,621,245,000

Parent company only condensed f

Parent company only condensed financial information	12 Months Ended
	Dec. 31, 2022
Parent company only condensed financial information
Parent company only condensed financial information	39 Parent company only condensed financial information Parent Company only financial statements have been provided pursuant to the requirements of Securities and Exchange Commission Regulation S-X Rule 12-04(a), which require condensed financial information as to financial position, cash flows and results of operations of a parent company as of the same dates and for the same periods for which audited consolidated financial statements have been presented, as the restricted net assets of the Company’s consolidated subsidiaries, including VIEs, as of December 31, 2022 exceeded the 25% threshold, using the same accounting policies as set out in the Group’s consolidated financial statements, except that the Company uses the equity method to account for investments in its subsidiaries and VIEs. Certain information and footnote disclosures generally included in financial statements prepared in accordance with IFRSs have been condensed and omitted. The footnote disclosures contain supplemental information relating to the operations of the Company, as such, these statements are not the general-purpose financial statements of the reporting entity and should be read in conjunction with the notes to the consolidated financial statements of the Company. The Company did not have significant capital and other commitments or guarantees as at December 31, 2022. The subsidiaries did not pay any dividend to the Company for the years presented. 39 Parent company only condensed financial information (Continued) (a) Condensed Statements of Comprehensive Income ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Selling and marketing expenses ​ (2,374) ​ (439) ​ (387) General and administrative expenses (45,655) ​ (53,621) ​ (104,653) Net impairment losses on amount due from subsidiaries ​ — ​ — ​ (465,457) Other income, gains or loss‑net 7,780 ​ 834 ​ 2,555 Operating loss (40,249) ​ (53,226) ​ (567,942) Finance income/(costs) – net 4,564 ​ (32) ​ (573) Share of losses of joint venture ​ (2,283) ​ (2,896) ​ — Share of losses of subsidiaries and VIEs (1,314,998) ​ (1,225,545) ​ (303,759) Loss before income tax ​ (1,352,966) ​ (1,281,699) ​ (872,274) Income tax expenses ​ (642) ​ — ​ — Loss for the year (1,353,608) ​ (1,281,699) ​ (872,274) Other comprehensive income, net of tax ​ ​ ​ ​ ​ Items that may be subsequently reclassified to profit or loss ​ ​ ​ ​ ​ ​ – Foreign currency translation differences (608,427) ​ (152,542) ​ 69,454 – Changes in the fair value of debt instruments measured at fair value through other comprehensive income ​ (39) ​ (16) ​ 5,324 Items that will not be subsequently reclassified to profit or loss ​ ​ ​ ​ ​ ​ – Foreign currency translation differences — ​ — ​ 356,691 – ​ — ​ (1,796) ​ — Total comprehensive loss (1,962,074) ​ (1,436,053) ​ (440,805) ​ ​ 39 Parent company only condensed financial information(Continued) (b) Condensed Balance Sheets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ ​ ​ 2021 2022 ​ ​ Note ​ RMB’000 ​ RMB’000 ASSETS ​ ​ Non ‑ current assets ​ ​ Interest in subsidiaries 39(d) ​ 1,280,946 ​ 1,764,074 Total non ‑ current assets ​ ​ 1,280,946 ​ 1,764,074 ​ ​ ​ ​ ​ ​ ​ Current assets ​ ​ ​ ​ ​ Amount due from subsidiaries 39(d) ​ 2,662,705 ​ 1,641,677 Prepayments and other receivables ​ ​ 246 ​ 448 Cash and cash equivalents ​ ​ 6,454 ​ 7,327 Total current assets ​ ​ 2,669,405 ​ 1,649,452 Total assets ​ ​ 3,950,351 ​ 3,413,526 ​ ​ ​ ​ ​ ​ ​ EQUITY AND LIABILITIES ​ ​ ​ ​ ​ Equity ​ ​ ​ ​ ​ Share capital 24 ​ 78 ​ 78 Shares held for share incentive scheme 26 ​ (80,102) ​ (149,544) Reserves 25 ​ 10,512,631 ​ 10,953,072 Accumulated loss ​ ​ (6,638,625) ​ (7,510,899) Total equity ​ ​ 3,793,982 ​ 3,292,707 ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ Non ‑ current liabilities ​ ​ ​ ​ ​ Trade and other payables ​ ​ 88,280 ​ 88,280 Total non ‑ current liabilities ​ ​ 88,280 ​ 88,280 ​ ​ ​ ​ ​ ​ ​ Current liabilities ​ ​ ​ ​ Trade and other paybles ​ ​ ​ 68,089 ​ 32,539 Total current liabilities ​ ​ 68,089 32,539 Total liabilities ​ ​ 156,369 120,819 Total equity and liabilities ​ ​ 3,950,351 3,413,526 ​ ​ 39 Parent company only condensed financial information (Continued) (c) Condensed Statements of Cash Flows ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Cash used in operating activities Cash used in operations (5,230) (51,132) (139,011) Net cash used in operating activities (5,230) (51,132) (139,011) Cash flows from investing activities ​ ​ ​ Payment for interest in subsidiaries, net of cash acquired (3,381,568) (1,333,804) (3,005,546) Proceeds from loan to subsidiaries 85,694 1,350,654 3,218,655 Net cash (used in)/generated from investing activities (3,295,874) 16,850 213,109 ​ ​ ​ ​ ​ ​ ​ Cash flows from financing activities ​ ​ ​ Proceeds from exercise of shares under share incentive scheme ​ — ​ 9,257 ​ 1,161 Proceeds from issuance of ordinary shares 2,722,445 — — Payments for shares repurchase ​ — ​ — ​ (74,992) Share issue transaction costs (24,766) — — Net cash generated from financing activities 2,697,679 9,257 (73,831) Net (decrease)/increase in cash and cash equivalents (603,425) (25,025) 267 Cash and cash equivalents at the beginning of the year 634,507 31,857 6,454 Effects of exchange rate changes on cash and cash equivalents 775 (378) 606 Cash and cash equivalents at the end of year 31,857 6,454 7,327 ​ (d) Interest in subsidiaries and amount due from subsidiaries ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ ​ 2021 ​ 2022 ​ RMB’000 RMB’000 Interest in subsidiaries ​ ​ ​ ​ Equity investment in subsidiaries 1,280,946 1,764,074 ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ ​ 2021 ​ 2022 ​ RMB’000 RMB’000 Amount due from subsidiaries ​ ​ ​ ​ Loan receivables 2,662,705 1,641,677 ​

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events.
Subsequent Events	40 Subsequent events On November 24, 2022, Shanghai OneConnect entered into the Equity Transfer Agreement with Puhui Management, pursuant to which Shanghai OneConnect conditionally agreed to sell, and Puhui Management conditionally agreed to purchase, the Group’s 40% equity interest in Puhui Lixin at a consideration of RMB199,200,000. The transaction has been approved by the extraordinary general meeting held on April 4, 2023 as of the date of this annual report.

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2022
Summary of significant accounting policies
Basis of preparation	2.1 Basis of preparation In January 2018, the Company acquired control of the Listing Business which was carried out through a domestic company and its subsidiaries (the ‘PRC Operating Entities’) through a series of transactions (the ‘Recapitalization’). The Company and those companies newly set up during the Recapitalization have not been involved in any other business prior to the Recapitalization and their operations do not meet the definition of a business. The Recapitalization is merely a recapitalization of the Listing Business with no change in management of such business and the ultimate owners of the Listing Business remain the same. Accordingly, the Group resulting from the Recapitalization is regarded as a continuation of the Listing Business conducted under PRC Operating Entities. The consolidated financial statements of the Group have been prepared and presented using the carrying amounts of the income, expenses, assets and liabilities of the consolidated financial statements of PRC Operating Entities for all periods presented. The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (“IFRSs”) issued by the International Accounting Standards Board (“IASB”). The consolidated financial statements have been prepared under the historical cost convention, as modified by the revaluation of financial assets measured at fair value through other comprehensive income, financial assets at fair value through profit or loss and derivative financial assets and liabilities, which are carried at fair value and subsequent changes are recognized in the statement of comprehensive income. The preparation of the consolidated financial statements in conformity with IFRSs requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 3 below. The Group has consistently adopted IFRS 9, IFRS15 and IFRS16 in the years ended December 31, 2021 and 2022. Recent accounting pronouncements (a) New and amended standards and interpretations adopted by the Group The Group has applied the following standards and amendments for the first time for their annual reporting period commencing January 1, 2022: ● Amendments to IAS 16 - Property, Plant and Equipment: Proceeds before intended use ● Amendments to IFRS 3 - Reference to the Conceptual Framework ● Amendments to IAS 37 - Onerous Contracts – Cost of Fulfilling a Contract ● Annual Improvements to IFRS Standards 2018 – 2020 The amendments listed above did not have material impact on the amounts recognized in prior periods and are not expected to significantly affect the current or future periods. 2 Summary of significant accounting policies (Continued) 2.1 Basis of preparation (Continued) Recent accounting pronouncements (Continued) (b) New standards and amendments to standards and interpretations not yet adopted Several new standards and amendments to standards and interpretations have been issued but not effective during the year 2022 and have not been early adopted by the Group in preparing these consolidated financial statements: ​ ​ ​ Effective for annual periods beginning on or after ​ ​ ​ ​ IFRS 17 - Insurance Contracts ​ 1 January 2023 ​ Amendments to IAS 1 and IFRS Practice Statement 2 - Disclosure of Accounting Policies ​ 1 January 2023 ​ Amendments to IAS 8 - Definition of accounting estimates ​ 1 January 2023 ​ Amendments to IAS 12 - Deferred tax related to assets and liabilities arising from a single transaction ​ 1 January 2023 ​ Amendment to IFRS 16 – Leases on sale and leaseback ​ 1 January 2024 ​ Amendments to IAS 1 - Classification of Liabilities as Current or Non-current ​ 1 January 2024 ​ Amendments to IFRS 10 and IAS 28 - Sale or Contribution of Assets between an Investor and its Associate or Joint Venture ​ To be determined ​ ​ The above new standards, new interpretations and amended standards are not expected to have a material impact on the consolidated financial statements of the Group.
Principles of consolidation and equity accounting	2.2.1 Subsidiaries Subsidiaries are all entities (including structured entities or VIEs as stated in Note 1.2 above) over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power to direct the activities of the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the group. They are deconsolidated from the date that control ceases. Intercompany transactions, balances and unrealized gains on transactions between group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. Non-controlling interests in the results and equity of subsidiaries are shown separately in the consolidated statements of comprehensive income, consolidated statement of changes in equity and consolidated balance sheet, respectively. For the parent company’s separate financial statements, investments in subsidiaries are accounted for using the equity method. ​ 2 Summary of significant accounting policies (Continued) 2.2 Principles of consolidation and equity accounting (Continued) 2.2.2 Investments accounted for using the equity method (i) Associate An associate is an entity over which the Group has significant influence but not control, generally accompanying a shareholding of between 20% and 50% of the voting rights. Significant influence could be demonstrated for an investment of less than 20%, for example, by representation on the board of directors or equivalent governing body of the investee. Investments in associates are accounted for using the equity method of accounting. (ii) Joint ventures Investments in joint arrangements are classified as either joint operations or joint ventures. The classification depends on the contractual rights and obligations of each investor, rather than the legal structure of the joint arrangement. Investments in joint ventures are accounted for using the equity method. Under the equity method, the investment is initially recognized at cost, and the carrying amount is increased or decreased to recognize the investor’s share of the profit or loss of the investee after the date of acquisition. The Group’s investment accounted for using the equity method include goodwill identified on acquisition. Upon the acquisition of the ownership interest in an associate or a joint venture, any difference between the cost of the investment accounted for using the equity method and the Group’s share of the net fair value of the investment’s identifiable assets and liabilities is accounted for as goodwill. If the ownership interest in an associate or a joint venture is reduced but significant influence is retained, only a proportionate share of the amounts previously recognized in other comprehensive income is reclassified to profit or loss where appropriate. The Group’s share of post-acquisition profit or loss is recognized in the consolidated statement of comprehensive income, and its share of post-acquisition movements in other comprehensive income is recognized in other comprehensive income with a corresponding adjustment to the carrying amount of the investment. When the Group’s share of losses in investment accounted for using the equity method equals or exceeds its interest in the investment, including any other unsecured receivables, the Group does not recognize further losses, unless it has incurred legal or constructive obligations or made payments on behalf of the investment. The Group determines at each reporting date whether there is any objective evidence that the investment accounted for using the equity method is impaired. If this is the case, the Group calculates the amount of impairment as the difference between the recoverable amount of the investment and its carrying value and recognizes the amount adjacent to “share of loss of associate and joint venture” in the consolidated statement of comprehensive income. Profits and losses resulting from upstream and downstream transactions between the Group and its investment accounted for using the equity method are recognized in the Group’s financial statements only to the extent of unrelated investor’s interests in the investment. Unrealized losses are eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been changed where necessary to ensure consistency with the policies adopted by the Group. Gain or losses on dilution of equity interest in the investment accounted for using the equity method are recognized in the consolidated statement of comprehensive income.
Structured Entities	A structured entity is an entity that has been designed so that voting or similar rights are not the dominant factor in deciding who controls the entity, such as when any voting rights relate to administrative tasks only, and the relevant activities are directed by means of contractual or related arrangements. The Group determines whether it is an agent or a principal in relation to those structured entities in which the Group acts as an asset manager on management’s judgement. If an asset manager is agent, it acts primarily on behalf of others and so does not control the structured entity. It may be principal if it acts primarily for itself, and therefore controls the structured entity. The unconsolidated structured entities in which the Group acts as an asset manager is set out in Note 36.
Business combination	Except for business combinations under common control, the Group applies the acquisition method to account for business combinations. The consideration transferred for the acquisition of a subsidiary is the fair values of the assets transferred, the liabilities incurred to the former owners of the acquiree and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The Group recognizes any non-controlling interest in the acquiree on an acquisition-by-acquisition basis. Non-controlling interests in the acquiree that are present ownership interests and entitle their holders to a proportionate share of the entity’s net assets in the event of liquidation are measured at either fair value or the present ownership interests’ proportionate share in the recognized amounts of the acquiree’s identifiable net assets. All other components of non-controlling interests are measured at their acquisition date fair value, unless another measurement basis is required by IFRS. Acquisition-related costs are expensed as incurred. If the business combination is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest in the acquiree is re-measured to fair value at the acquisition date; any gains or losses arising from such re-measurement are recognized in profit or loss. Any contingent consideration to be transferred by the Group is recognized at fair value at the acquisition date. Subsequent changes to the fair value of the contingent consideration that is deemed to be an asset or liability is recognized in profit or loss. Contingent consideration that is classified as equity is not remeasured, and its subsequent settlement is accounted for within equity. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition-date fair value of any previous equity interest in the acquiree over the fair value of the identifiable net assets acquired is recorded as goodwill. If the total of consideration transferred, non-controlling interest recognized and previously held interest measured is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is recognized directly in the income statement. Intra-group transactions, balances and unrealized gains on transactions between group companies are eliminated. Unrealized losses are also eliminated. When necessary, amounts reported by subsidiaries have been adjusted to conform with the Group’s accounting policies. ​
Segment reporting	Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision makers (“CODM”), who are responsible for allocating resources and assessing performance of the operating segments and making strategic decisions. The Group’s chief operating decision makers have been identified as the executive directors of the Company, who review the consolidated results of operations when making decisions about allocating resources and assessing performance of the Group.
Foreign currency translation	Functional and presentation currency Items included in the financial statements of each of the Group’s entities are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The functional currency of the Company is the United States dollar (“US$”). RMB is the functional currency of the subsidiaries in PRC. As the major operations of the Group are within the PRC, the directors of the Company have chosen to present the Group’s financial statements in RMB (the presentation currency). Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation of monetary assets and liabilities denominated in foreign currencies at year end exchange rates are generally recognized in the consolidated statements of comprehensive income. Foreign exchange gains and losses that relate to borrowings are presented in the consolidated statements of comprehensive income, within finance costs. All other foreign exchange gains and losses are presented in the consolidated statements of comprehensive income on a net basis within other income, gains or loss - net. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. Translation differences on assets and liabilities carried at fair value are reported as part of the fair value gain or loss. For example, translation differences on non-monetary assets and liabilities such as equities held at fair value through profit or loss are recognized in profit or loss as part of the fair value gain or loss and translation differences on non-monetary assets such as equities classified as fair value through other comprehensive income are recognized in other comprehensive income. Group companies The results and financial position of foreign operations (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: ● assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet ● income and expenses for each statement of profit or loss and statement of comprehensive income are translated at average exchange rates (unless this is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the dates of the transactions), and ● all resulting exchange differences are recognized in other comprehensive income. ​ 2 Summary of significant accounting policies (Continued) 2.6 Foreign currency translation (Continued) On consolidation, exchange differences arising from the translation of any net investment in foreign entities, and of borrowings and other financial instruments designated as hedges of such investments, are recognized in other comprehensive income. When a foreign operation is sold or any borrowings forming part of the net investment are repaid, the associated exchange differences are reclassified to profit or loss, as part of the gain or loss on sale.
Property and equipment	Property and equipment are stated at historical cost less depreciation. Historical cost includes expenditure that is directly attribute to the acquisition of the items. Depreciation on property and equipment is calculated using the straight-line method to allocate their cost to their residual values over their estimated useful lives or, in case of a leasehold improvements, the shorter lease term as follows: ​ ​ ​ ​ Category Expected useful life Office and telecommunication equipment 3-5 years Leasehold improvements 5 years ​ The assets’ residual values and useful lives are reviewed, and adjusted quarterly if appropriate, at the end of each reporting period. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognized within ‘Other income, gains or loss - net’ in the consolidated statements of comprehensive income.
Intangible assets	The Group’s intangible assets include application and platforms, purchased software, development costs in progress, goodwill, business licenses and others. Intangible assets can be recognized only when future economic benefits expected to be obtained from the use of the item will flow into the Group and its cost can be measured reliably. Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is the fair value as at the date of acquisition. Costs associated with maintaining application and platform are recognized as an expense as incurred. Development costs that are directly attributable to the development and testing of identifiable application and platform controlled by the Group are recognized as intangible assets when the following criteria are met: ● it is technically feasible to complete the application and platform so that it will be available for use ● management intends to complete the application and platform and use or sell it ● there is an ability to use or sell ● it can be demonstrated how the application and platform will generate probable future economic benefits ● adequate technical, financial and other resources to complete the development and to use or sell the application and platform are available, and ● the expenditure attributable to the application and platform during its development can be reliably measured. 2 Summary of significant accounting policies (Continued) 2.8 Intangible assets (Continued) Directly attributable costs that are capitalized include employee costs, technology service fee and an appropriate portion of relevant overheads. Research expenditure and development expenditure that do not meet the criteria above are recognized as an expense as incurred. Development costs previously recognized as an expense are not recognized as an asset in a subsequent period. Capitalized development costs are recorded as intangible assets and amortized from the point at which the asset is ready for use. The useful lives of intangible assets are assessed by the period of bringing economic benefits for the Group. The useful lives of intangible assets excluding development cost in progress are set as follows: ​ ​ ​ ​ ​ Expected useful life · 3 ‑ 10 years · 3 ‑ 10 years · 3 ‑ 5 years ​ Intangible assets with finite lives are subsequently amortized on the straight-line basis over the useful economic life. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed, and adjusted if appropriate, at least at each year end. Intangible assets with indefinite useful lives are not amortized, but are subject to annual impairment assessment.
Impairment of non financial assets	The Group assesses at each reporting date whether there is an indication that a non-financial asset other than deferred tax assets may be impaired. If any such indication exists, or when annual impairment testing for a non-financial asset is required, the Group makes an estimate of the asset’s recoverable amount. A non-financial asset’s recoverable amount is the higher of the asset’s or cash-generating unit’s fair value less costs to sell and its value in use 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. Where the carrying amount of a non-financial asset exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. In assessing value in use, the estimated future cash flows are discounted to their present value using discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. In determining fair value less costs to disposal, an appropriate valuation model is used. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded subsidiaries or other available fair value indicators. ​ 2 Summary of significant accounting policies (Continued) 2.9 Impairment of non-financial assets (Continued) For non-financial assets other than goodwill, an assessment is made at each reporting date as to whether there is any indication that previously recognized impairment losses may no longer exist or may have decreased. If such an indication exists, the Group makes an estimate of the recoverable amount. A previously recognized impairment loss is reversed only if there has been a change in the estimates used to determine the asset’s recoverable amount since the last impairment loss was recognized. If that is the case, the carrying amount of the asset is increased to its recoverable amount. That increased amount cannot exceed the carrying amount that would have been determined, net of depreciation, had no impairment loss been recognized for the asset in prior years. Such a reversal is recognized in the statement of comprehensive income. Goodwill is reviewed for impairment, annually or more frequently if events or changes in circumstances indicate that the carrying value may be impaired. Impairment is determined by assessing the recoverable amount of the cash-generating unit (or group of cash-generating units), to which the goodwill relates. The recoverable amount is the higher of its fair value less costs of disposal and its value-in-use, determined on an individual asset (or cash-generating unit) basis, unless the individual asset (or cash-generating unit) does not generate cash flows that are largely independent from those of other assets or groups of assets (or groups of cash-generating units). Impairment losses recognized in relation to goodwill are not reversed for subsequent increases in its recoverable amount. Intangible assets with indefinite useful lives and development costs in progress are tested for impairment annually at each year end either individually or at the cash-generating unit level, as appropriate.
Financial assets	Classification The Group classifies its financial assets in the following measurement categories: ● those to be measured subsequently at fair value (either through other comprehensive income, or through profit or loss), and ● those to be measured at amortized cost. The classification depends on the entity’s business model for managing the financial assets and the contractual terms of the cash flows. For assets measured at fair value, gains and losses will either be recorded in profit or loss or other comprehensive income. For investments in debt instruments, this will depend on the business model in which the investment is held and the cash flow characteristics of the asset. For investments in equity instruments, this will depend on whether the Group has made an irrevocable election at the time of initial recognition to account for the equity investment measured at fair value through other comprehensive income. The Group reclassifies debt investments when and only when its business model for managing those assets changes. Recognition and measurement At initial recognition, the Group 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 that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in the consolidated statement of comprehensive income. ​ 2 Summary of significant accounting policies (Continued) 2.10 Financial assets (Continued) Recognition and measurement (Continued) (a) Debt instruments Subsequent measurement of debt instruments depends on the Group’s business model for managing the asset and the cash flow characteristics of the asset. There are three measurement categories into which the Group classifies its debt instruments: ● Amortized cost: Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortized cost. Interest income from these financial assets is included in finance income using the effective interest rate method. Any gain or loss arising on derecognition is recognized directly in profit or loss and presented in other income, gains or loss together with foreign exchange gains and losses. Impairment losses are presented in the consolidated statements of comprehensive income. ● Fair value through other comprehensive income (“FVOCI”): Assets that are held for collection of contractual cash flows and for selling the financial assets, where the assets’ cash flows represent solely payments of principal and interest, are measured at FVOCI. Movements in the carrying amount are taken through OCI, except for the recognition of impairment gains or losses, interest income and foreign exchange gains and losses which are recognized in profit or loss. When the financial asset is derecognized, the cumulative gain or loss previously recognized in OCI is reclassified from equity to profit or loss and recognized in other income, gains or loss. Interest income from these financial assets is included in other gain using the effective interest rate method. Foreign exchange gains and losses are presented in other income, gains or loss and impairment expenses are presented in the statement of profit or loss. ● Fair value through profit or loss (“FVPL”): Assets that do not meet the criteria for amortized cost or FVOCI are measured at FVPL. A gain or loss on a debt investment that is subsequently measured at FVPL is recognized in profit or loss and presented net within other income, gains or loss in the period in which it arises. (b) Equity instruments The Group subsequently measures all equity investments at fair value. Where the Group’s management has elected to present fair value gains and losses on equity investments in other comprehensive income, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognized in profit or loss. Changes in the fair value of financial assets at fair value through profit or loss are recognized in profit or loss. Impairment losses (and reversal of impairment losses) on equity investments measured at FVOCI are not reported separately from other changes in fair value. (c) Impairment The group assesses on a forward looking basis the expected credit losses associated with its debt instruments carried at amortized cost and FVOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk. Expected credit loss refers to the weighted average amount of credit loss of financial instruments based on the probability of default. Credit loss refers to the difference between all contractual cash flows receivable and all cash flows that the entity expects to receive, discounted at the original effective interest rate. The Group recognizes or reverses the impairment provision through profit or loss. For debt instruments measured at FVOCI, impairment gains or losses are included in the net impairment losses on financial instruments and correspondingly reduce the accumulated changes in fair value included in the OCI reserves of equity. ​ 2 Summary of significant accounting policies (Continued) 2.10 Financial assets (Continued) Recognition and measurement (Continued) For trade receivables and contract assets, the Group applies the simplified approach permitted by IFRS 9, which requires expected lifetime losses to be recognized from initial recognition of the assets. The impairment matrix is determined based on historical observed default rates over the expected life of the contract assets and trade receivables with similar credit risk characteristics and is adjusted for forward-looking estimates. At every reporting date the historical observed default rates are updated and changes in the forward-looking estimates are analysed. Impairment on other receivables are measured as either 12-month expected credit losses or lifetime expected credit losses, depending on whether there has been a significant increase in credit risk since initial recognition. If a significant increase in credit risk of a receivable has occurred since initial recognition, then impairment is measured as lifetime expected credit losses. Offsetting financial instruments Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the company or the counterparty.
Financial liabilities	The Group, at initial recognition, classifies financial liabilities as either financial liabilities subsequently measured at amortised cost or financial liabilities at fair value through profit or loss. ​ Except for derivative financial instruments (Note 2.12), the Group ’ ​ Where the present obligations of financial liabilities are discharged, cancelled or when they are expired, the Group derecognises these financial liabilities. The differences between the carrying amounts and the consideration received are recognised in profit or loss. ​ Financial liabilities are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the reporting period.
Derivative financial instruments	The Group’s derivative financial instruments are initially recognized at fair value on the date of which the related derivative contracts are entered into and are subsequently measured at fair value. All derivatives are carried as assets when the fair values are positive and as liabilities when the fair values are negative. The gains or losses arisen from fair value changes of derivatives are recognized in profit or loss. No derivative financial instruments are designated as hedging instrument.
Trade receivables	Trade receivables are amounts due from customers for products sold or services performed in the ordinary course of business. If collection of trade and other receivables is expected in one year or less, they are classified as current assets. If not, they are presented as non-current assets. Trade receivables are recognized initially at the amount of consideration that is unconditional unless they contain significant financing components, when they are recognized at fair value. The group holds the trade receivables with the objective to collect the contractual cash flows and therefore measures them subsequently at amortized cost using the effective interest method. See Note 18 for further information about the Group’s accounting for trade receivables and Note 4 for a description of the group’s impairment policies.
Cash and cash equivalents	For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes cash on hand, deposits held at call with financial institutions, other short-term, highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.
Share capital	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Leases	The Group leases various properties. Rental contracts are typically made for fixed periods of 1 to 5 years but may have extension options. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements do not impose any covenants, but leased assets may not be used as security for borrowing purposes. Leases are recognized as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use by the group. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is depreciated over the lease term on a straight-line basis. Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: ● fixed payments (including in-substance fixed payments), less any lease incentives receivable ● variable lease payment that are based on an index or a rate ● amounts expected to be payable by the lessee under residual value guarantees ● the exercise price of a purchase option if the lessee is reasonably certain to exercise that option, and ● payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option. The lease payments are discounted using the interest rate implicit in the lease, if that rate can be determined, or the group’s incremental borrowing rate. ​ 2 Summary of significant accounting policies (Continued) 2.16 Leases (Continued) Right-of-use assets are measured at cost comprising the following: ● the amount of the initial measurement of lease liability ● any lease payments made at or before the commencement date less any lease incentives received ● any initial direct costs, and ● restoration costs. Right-of-use assets related to lease of properties are recorded under property and equipment (Note 12). Lease liabilities are recorded under trade and other payables (Note 27). Payments associated with short-term leases and leases of low-value assets are recognized on a straight-line basis as an expense in profit or loss.
Employee benefits	(a) Pension obligations The employees of the Group are mainly covered by various defined contribution pension plans. The Group makes and accrues contributions on a monthly basis to the pension plans, which are mainly sponsored by the related government authorities that are responsible for the pension liability to retired employees. Under such plans, the Group has no other significant legal or constructive obligations for retirement benefits beyond the said contributions, which are expensed as incurred. Certain employees are also provided with group life insurance but the amounts involved are insignificant. (b) Housing benefits The employees of the Group are entitled to participate in various government-sponsored housing funds. The Group contributes on a monthly basis to these funds based on certain percentages of the salaries of the employees. The Group’s liability in respect of these funds is limited to the contributions payable in each period. (c) Medical benefits The Group makes monthly contributions for medical benefits to the local authorities in accordance with relevant local regulations for the employees. The Group’s liability in respect of employee medical benefits is limited to the contributions payable in each period.
Share-based payments	An equity-settled share-based compensation plan was granted to the employees and non-employees, under which the entity receives services from employees and non-employees as consideration for equity instruments (options) of the Group. The fair value of the services received in exchange for the grant of the options is recognized as an expense with a corresponding increase in equity. The total amount to be expensed is determined by reference to the fair value of the options granted: ● including any market performance; ● excluding the impact of any service and non-market performance vesting conditions; ● including the impact of any non-vesting conditions ​ 2 Summary of significant accounting policies (Continued) 2.18 Share-based payments (Continued) The total expense is recognized over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied. At the end of each reporting period, the Group revises its estimates of the number of options that are expected to vest based on the non-market performance and service conditions. It recognizes the impact of the revision to original estimates, if any, in the statement of comprehensive income, with a corresponding adjustment to equity. If the terms of an equity-settled award are modified, at a minimum an expense is recognized as if the terms had not been modified. An additional expense is recognized for any modification that increases the total fair value of the share-based payment arrangement, or is otherwise beneficial to the employee, as measured at the date of modification. If an equity-settled award is cancelled, it is treated as if it had vested on the date of cancellation, and any expense not yet recognized for the award is recognized immediately. However, if a new award is substituted for the cancelled award, and designated as a replacement award on the date that it is granted, the cancelled and new award are treated as if they were a modification of the original award, as described in the previous paragraph.
Revenue recognition	2.19 Revenue recognition Revenue represents the amount of consideration the Company is entitled to upon the transfer of promised goods or services in the ordinary course of the Company’s activities and is recorded net of value-added tax (“VAT”). Revenues are recognized when or as control of the asset or service is transferred to the customer. Depending on the terms of the contract and the laws that apply to the contract, control of the goods and services may be transferred over time or at a point in time. Control of the goods and services is transferred over time if the Group’s performance: ● provides all of the benefits received and consumed simultaneously by the customer; ● creates and enhances an asset that the customer controls as the Group performs; or ● does not create an asset with an alternative use to the Group and the Group has an enforceable right to payment for performance completed to date. If control of the goods and services transfers over time, revenue is recognized over the period of the contract by reference to the progress towards complete satisfaction of that performance obligation. Otherwise, revenue is recognized at a point in time when the customer obtains control of the goods and services. The progress towards complete satisfaction of the performance obligation is measured based on one of the following methods that best depict the Group’s performance in satisfying the performance obligation: ● direct measurements of the value transferred by the Group to the customer; or ● the Group’s efforts or inputs to the satisfaction of the performance obligation. When either party to a contract has performed, the Group presents the contract in the statement of financial position as a contract asset or a contract liability, depending on the relationship between the entity’s performance and the customer’s payment. A contract asset is the Group’s right to consideration in exchange for goods or services that the Group has transferred to a customer. If the value ascribed to the services rendered by the Group exceed the payment, a contract asset is recognized. Judgement is required in determining whether a right to consideration is unconditional and thus qualifies as a receivable. A receivable is recorded when the Group has an unconditional right to consideration on the date the payment is due even if it has not yet performed under the contract. ​ 2 Summary of significant accounting policies (Continued) 2.19 Revenue recognition (Continued) If a customer pays consideration or the Group has a right to an amount of consideration that is unconditional, before the Group transfers a good or service to the customer, the Group presents the contract as a contract liability when the payment is made or the payment is due (whichever is earlier). A contract liability is the Group’s obligation to transfer goods or services to a customer for which the Group has received consideration (or an amount of consideration is due) from the customer. A contract liability is recognized as revenue upon transfer of control to the customers of the promised license, products and services. Some of the Group’s contracts with customers contain multiple performance obligations. For these contracts, the Group accounts for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. Although each of the performance obligations sometimes has a separate contractual price agreed in the contract, the management compares the contractual price with observable standalone market price, if any, or cost plus a margin price to assess the reasonableness of the pricing. If the contractual price for each performance obligation is assessed to be on market price basis, the Group uses the contractual price to measure and recognize revenue for each performance obligation. If the contractual price for each performance obligation is assessed to be not on market price basis, the Group reallocates the total contract price to the identified performance obligations based on its best estimated standalone selling price of each performance obligation. Only the contracts for business origination services (Note 2.19(b)) contain significant financing components. As a practical expedient, the Group does not account for financing components if the period between when the Group transfers the promised goods or services to the customer and when the customer pays for those goods or services is one year or less. Incremental costs of obtaining customer contract primarily consist of sales commissions and are capitalized as an asset. The Group amortizes assets recognized from capitalizing costs to obtain a contract on a systematic basis to profit or loss, consistent with the pattern of revenue recognition to which the asset relates. As a practical expedient, the Group recognize the incremental costs of obtaining a contract as an expense when incurred if the amortization period of the asset that the Group otherwise would have recognized is one year or less. The following is a description of the accounting policy for the principal revenue streams of the Group. (a) Implementation and post-implementation support services Implementation services represent customer-specific software development or customization services provided to customers for the use of the Group’s software in cloud offerings or on-premise IT environment. The implementation contract is either on a time and material basis or fixed-fee basis. The Group invoices fees for implementation services based on actual time and materials incurred to date or according to pre-agreed payment schedules. After development, license to use the software is granted to the customer with an indefinite life. The customer cannot benefit from the implementation service on its own without the license. The perpetual license is a result of the implementation service. The implementation service and the perpetual license are highly interrelated and within the context of the contract, the promise of the Group is to transfer the implementation service together with the perpetual license as one output to its customers. Both the implementation service and the perpetual license to use the software are not distinct and thus should be combined together as one performance obligation. And there is no sales/usage-based royalty for the licence to use the software in the arrangement. For implementation services, revenue is recognised over time if the Group ’ 2 Summary of significant accounting policies (Continued) 2.19 Revenue recognition (Continued) (a) Implementation and post-implementation support services (Continued) The Group’s customer contracts often include both implementation services and post-implementation support services. Customers can benefit from implementation service and post-implementation support service on their own, and those services are clearly stated in the contract and are separately identifiable, they are not integrated or interrelated with each other, and do not significantly affect each other. Implementation contracts are for software developed for specific needs of individual customers and therefore it does not have any alternative use for the Group. Moreover, implementation contracts provide the Group with an enforceable right to payment for performance completed to date. Accordingly, revenue for implementation contracts is recognized over the contract terms by reference to the progress of work performed, which is measured based on costs incurred toward satisfying the performance obligation, relative to total costs expected to be incurred to the complete satisfaction of the performance obligation. For post development maintenance services, the performance obligation is to stand ready to provide technical support and unspecified updates and upgrades on a when-and-if-available basis. The customers simultaneously receive and consume the benefits of these support services as the Group performs and revenue is recognized based on time elapsed and thus ratably over the term of the support arrangement. Post implementation cloud services provided on a subscription basis, where the performance obligation is the grant of the right to continuously use the cloud services for a certain term, are recognized based on time elapsed and thus ratably over the contract terms. (b) Transaction based service The Group derives its transaction based service revenue primarily from business origination services, risk management services, operation support services and other services. Business origination services The Group provides business origination services by assisting financial institutions in customer acquisition for their products including loans, wealth management products and insurance policies etc. In order to satisfy its performance obligations (that is generating customer leads for financial institutions), the Group designs marketing plans, sources leads and analyses the leads. The Group generates customer leads for financial institutions through its own platform or from channel partners. The leads, which are sourced from the Group’s own platform or from the channel partners, are grouped together and are screened and analysed by the Group to ensure that they meet customers’ criteria. When the leads are sourced from the channel partners, the Group determined that it is the principal in providing the business origination services to the financial institutions because the Group controls the leads sourced from channel partners, screens and analyses the leads before delivering those leads to customers. For business origination services, the Group is primarily responsible for fulfilling the promise to generate customer leads to financial institutions and has full discretion in establishing the price for the business origination services provided to financial institutions, as well as the selection of and determination of prices paid to the channel partners. Accordingly, the Group records revenue based on the gross amount payable by the financial institutions and records the amount payable to the channel partners as cost of revenue. The Group normally charges its customers based on successful referrals at fixed charge rates.The revenue for business origination services is recognized when a referral is successfully accepted by financial institutions. 2 Summary of significant accounting policies (Continued) 2.19 Revenue recognition (Continued) (b) Transaction based service (Continued) Business origination services (Continued) The Group determined that it is not the legal lender and legal borrower (or receiver of deposits from investors) in the loan origination and repayment process. Therefore, the Group does not record loans receivable and payable arising from the loans between lenders and borrowers. The Group acts as an agent to facilitate such loans. Operation support services Operation support services mainly represent calling services and insurance loss assessment services, digital certification and related services and solutions, service management platforms to participants around auto aftermarket scenarios, asset monitoring services and consulting services provided to financial institutions. ​ For contracts which the Group charges its customers based on usage of the services at fixed charge rates, and invoices the fees on periodical basis, the revenue from these services is recognized when the customers receive and consume the benefits of these services each time the Group performs, based on the amount charged for such services. For contracts which the Group charges its customers based on the term of services and invoices the fee on periodical basis, and the performance obligation is to stand ready to provide operation support, the customers simultaneously receive and consume the benefits of these support services as the Group performs and revenue is recognized based on time elapsed and thus ratably over the term of the support arrangement. ​ When the cash received is different from the revenue recognized, a “contract asset” or “contract liability” shall be recognized in the consolidated statement of financial position. Risk management services Risk management services mainly represent credit risk assessment, identity verification service, risk management services used in insurance loss assessment and anti-fraud services provided to financial institutions. For risk management services contracts, the Group normally charges its customers based on usage of the services at fixed charge rates, and invoices the fees on periodical basis. The revenue from these services is recognized when the customers receive and consume the benefits of these services each time the Group performs, based on the amount charged for such services. Cloud platform services Cloud platform services mainly represent providing financial institutions with value-added services including computing, storage, database and backup services on a variety of cloud infrastructures. For cloud platform contracts, the Group normally charges its customers based on usage of the services at fixed charge rates, and invoices the fees on periodical basis. The revenue from these services is recognized when the customers receive and consume the benefits of these services, based on the amount charged for such services. Others Other revenue mainly represents sales of products, asset management services and revenue from virtual bank. 2 Summary of significant accounting policies (Continued) 2.19 Revenue recognition (Continued) (b) Transaction based service (Continued) Others (Continued) For sales of products, the Group recognizes revenue net of discounts and return allowances upon the time when the products are delivered to customers. For asset management services, the service revenues are recognized ratably over the term of the service contracts. (c) For virtual bank , interest income from debt instruments measured at amortized cost and debt instruments measured at fair value through other comprehensive income is recognized in revenue using the effective interest rate method. Fees and commissions are recognized on an accrual basis when the service has been provided or significant act performed.
Interest income	2.20 Interest income Interest income from virtual bank is included in the revenue (Note 5). Interest income from financial assets that are held for cash management purposes is included in finance income, see finance income (Note 9) below. Interest income from financial assets at FVPL and any other interest income is included in the net gains/(losses), see other income (Note 8) below. Interest income is calculated by applying the effective interest rate to the gross carrying amount of a financial asset except for financial assets that subsequently become credit-impaired. For credit-impaired financial assets the effective interest rate is applied to the net carrying amount of the financial asset (after deduction of the loss allowance).
Dividend income	Dividend income is recognized when the right to receive payment is established.
Government grants	Grants from the government are recognized at their fair value where there is a reasonable assurance that the grant will be received and the Group will comply with all attached conditions. Government grants relating to costs are deferred and recognized in the income statement over the period necessary to match them with the costs that they are intended to compensate.
Tax	Income tax comprises current and deferred tax. Income tax is recognized in the statement of comprehensive income, or in other comprehensive income or in equity if it relates to items that are recognized in the same or a different period directly in other comprehensive income or in equity. Current tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the taxation authorities. 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 recognized 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, associates and interests in jointly controlled entities, 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 recognized for all deductible temporary differences, the carry-forward of unused tax credits and any unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry-forward of unused tax credits and unused tax losses can be utilized, 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, associates and interests in jointly controlled entities, deferred tax assets are only recognized 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 utilized. 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 utilized. Conversely, previously unrecognized deferred tax assets are reassessed at the end of each reporting period and are recognized to the extent that it is probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the end of the reporting period. Deferred tax assets and deferred tax liabilities are offset, if a legally enforceable right exists to set off current tax assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same taxation authority.

General information and basis_2

General information and basis of presentation (Tables)	12 Months Ended
	Dec. 31, 2022
General information and basis of presentation
Schedule of direct or indirect interests in major subsidiaries	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity interest held ​ ​ ​ ​ Place and date of ​ Principal activities ​ Issued and ​ by the Group ​ ​ ​ ​ incorporation / ​ and place of ​ paid-in capital/ ​ As at December 31 ​ ​ Company name establishment operations Registered capital 2021 2022 Note Subsidiaries Jin Tai Yuan Limited ​ British Virgin Islands / October 27, 2017 ​ Investment holding, BVI ​ USD747,940,498 ​ 100 % 100 % ​ Jin Cheng Long Limited Hong Kong / October 30, 2017 Investment holding, Hong Kong, the PRC ​ USD747,940,498 ​ 100 % 100 % ​ OneConnect Financial ​ Hong Kong / March 15, 2018 Software and technology service, ​ USD1 ​ 100 % 100 % ​ OneConnect Financial Singapore / March 26, 2018 Software and technology service, ​ SGD47,900,000 ​ 100 % 100 % ​ PT OneConnect Financial Indonesia/December 04, 2018 Software and technology service, ​ IDR10,000,000,000 ​ 100 % 100 % ​ Ping An OneConnect Bank (Hong Kong) Limited (“OneConnect Bank”) ​ Hong Kong /December 07, 2018 ​ Banking service. Hong Kong, the PRC. ​ USD38,216,561 and HKD 1,200,000,000 ​ 100 % 100 % ​ Shenzhen OneConnect Technology Services Co., Ltd (“Shenzhen OneConnect Technology”) ​ the PRC / January 04, 2018 ​ Technology promotion and computer application services, Shenzhen, the PRC ​ RMB4,903,181,996/RMB4,960,000,000 ​ 100 % 100 % ​ Beijing Vantage Point Technology Co., Ltd. (“Vantage Point Technology”) the PRC / July 18, 2008 Software and technology service, information transmission. Beijing, the PRC. ​ RMB13,333,529 ​ 51.67 % 51.67 % (i) Shenzhen OneConnect Information Technology Service Company Limited (“Shenzhen OneConnect Information Technology”) ​ the PRC /January 31, 2019 ​ Software and technology service, information transmission. Shenzhen, the PRC. ​ RMB100,000,000 ​ 51 % 51 % ​ Beijing BER Technology Company Ltd. (“BER Technology”) the PRC /March 30,2006 Software and technology service, information transmission. Shenzhen, the PRC ​ RMB22,950,000 ​ 80 % 80 % (i) Zhang Tong Shun (Guangzhou) Technology Co., Ltd. (“Zhang Tong Shun”) ​ the PRC /May 9, 2019 ​ Information technology advisory services, Guangzhou, the PRC ​ RMB10,000,000 ​ 100 % 100 % (i) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equity interest held ​ ​ ​ ​ Place and date of ​ ​ ​ Issued and ​ by the Group ​ ​ ​ ​ incorporation / ​ Principal activities and ​ paid-in capital/ ​ As at December 31 ​ ​ Company name establishment place of operations Registered capital 2021 2022 Note VIEs OneConnect Smart Technology Co., Ltd. (Shenzhen) (“Shenzhen OneConnect”) ​ the PRC / September 15, 2017 ​ Software and technology service, information transmission. Shenzhen, the PRC. ​ RMB1,200,000,000 ​ 100 % 100 % ​ Shenzhen E-Commerce Safety Certificates Administration Co., Ltd. (“Shenzhen CA”) ​ the PRC /August 11, 2000 ​ E-commerce security certificate administration, Shenzhen, the PRC ​ RMB543,500,000 ​ 98.9 % 98.9 % (i) Subsidiaries of the VIEs Shanghai OneConnect Financial Technology Co., Ltd. (“Shanghai OneConnect”) * ​ the PRC / December 29, 2015 ​ Software and technology service, asset management and consulting. Shanghai, the PRC. ​ RMB1,200,000,000 ​ 100 % 100 % ​ Shenzhen Kechuang Insurance the PRC / August 27, 2001 Insurance survey and loss adjustment. ​ RMB4,000,000 ​ 100 % 100 % ​ Shenzhen OneConnect Chuangpei Technology Co., Ltd. (“Chuangpei”) ​ the PRC / June 1, 2016 ​ Software and technology service, information transmission. Shenzhen, the PRC. ​ RMB10,000,000 ​ 100 % 100 % ​ Zhuhai Yirongtong Asset Management Co., Ltd. (“Yirongtong”) ​ the PRC / June 21, 2016 ​ Asset management and consulting. Zhuhai, the PRC ​ RMB12,000,000 ​ 100 % 100 % ​ Ping An OneConnect Cloud Technology Co., Ltd. (“OneConnect Cloud Technology”) ​ the PRC / June 27, 2016 ​ Software and technology service, information transmission. Shenzhen, the PRC. ​ RMB500,000,000 ​ 100 % 100 % ​ * Subsidiaries of Shenzhen OneConnect Note: (i) The subsidiaries were acquired by the Group through business combination.
Schedule of major financial statements amounts and balances of the Group's VIEs and subsidiaries of VIEs	​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Total current assets ​ 3,820,222 3,865,127 Total non‑current assets ​ 996,872 906,455 Total assets ​ 4,817,094 4,771,582 Total current liabilities ​ 7,427,980 7,645,984 Total non‑current liabilities ​ 97,509 27,902 Total liabilities ​ 7,525,489 7,673,886 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ ​ 2020 ​ 2021 ​ 2022 ​ RMB’000 RMB’000 RMB’000 Total revenue 3,042,997 ​ 3,723,306 4,064,707 Net loss (989,704) ​ (708,699) (195,819) Net cash used in operating activities (443,276) ​ (439,174) (618,574) Net cash generated from investing activities 1,660,300 ​ 3,633 918,498 Net cash generated (used in)/from financing activities (887,374) ​ 108,564 368,778 Net increase/(decrease) in cash and cash equivalents 329,650 ​ (326,977) 668,702 Cash and cash equivalents, beginning of the year 234,877 ​ 564,527 237,550 Cash and cash equivalents, end of the year 564,527 ​ 237,550 906,252 ​

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	12 Months Ended
	Dec. 31, 2022
Summary of significant accounting policies
Schedule of expected useful life of property and equipment	​ ​ ​ ​ Category Expected useful life Office and telecommunication equipment 3-5 years Leasehold improvements 5 years ​
Schedule of useful lives of intangible assets	​ ​ ​ ​ ​ Expected useful life · 3 ‑ 10 years · 3 ‑ 10 years · 3 ‑ 5 years ​

Management of financial risk (T

Management of financial risk (Tables)	12 Months Ended
	Dec. 31, 2022
Management of financial risk
Schedule of tabular disclosure of contract asset and trade receivable	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2021 ​ RMB'000 RMB'000 RMB'000 ​ Trade Contract ​ ​ receivables assets ​ Total Gross carrying amount Applying simplified approach ​ ​ ​ ​ 934,152 311,103 1,245,255 ​ ​ ​ ​ ​ ​ ​ Loss allowance Applying simplified approach ​ ​ ​ ​ 42,978 82,340 125,318 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2022 ​ RMB'000 RMB'000 RMB'000 ​ Trade Contract ​ ​ receivables assets ​ Total Gross carrying amount Applying simplified approach 998,036 182,480 1,180,516 ​ ​ ​ ​ ​ ​ ​ Loss allowance ​ ​ ​ Applying simplified approach 57,047 ​ 59,852 116,899 ​
Schedule of impairment loss allowance	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2021 ​ Related Up to 1 year to 2 year to Above ​ ​ ​ parties ​ 1 year ​ 2 year ​ 3 year ​ 3 years ​ Total Expected loss rate ​ 1.55 % 6.31 % 33.30 % 89.51 % 98.86 % 10.06 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross carrying amount of trade receivables and contract assets applying simplified approach 456,470 653,428 81,012 39,758 14,587 1,245,255 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss allowance of trade receivables and contract assets applying simplified approach 7,091 41,240 26,980 35,587 14,420 125,318 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2022 ​ ​ Related ​ Up to ​ 1 year to ​ 2 year to ​ Above ​ ​ ​ parties 1 year 2 year 3 year 3 years Total Expected loss rate 2.27 % 3.33 % 42.80 % 68.40 % 97.75 % 9.90 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross carrying amount of trade receivables and contract assets applying simplified approach 391,221 657,723 63,170 ​ 26,482 ​ 41,920 ​ 1,180,516 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loss allowance of trade receivables and contract assets applying simplified approach 8,888 21,885 27,038 ​ 18,113 ​ 40,975 ​ 116,899 ​ ​
Schedule of undiscounted contractual cash flows	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2021 ​ Within 1 year 1 to 5 years Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ ​ ​ ​ ​ ​ ​ Short‑term borrowings 818,246 ​ — ​ 818,246 Trade and other payables 1,158,593 ​ 340,162 ​ 1,498,755 - Including: lease liabilities ​ 65,094 ​ 112,102 ​ 177,196 Customer deposits 1,350,171 ​ — ​ 1,350,171 Non ‑ derivative financial liabilities ​ 3,327,010 ​ 340,162 ​ 3,667,172 ​ ​ ​ ​ ​ ​ ​ Gross settled (foreign currency swaps) ​ ​ ​ ​ ​ - (inflow) (2,147,751) ​ — ​ (2,147,751) - outflow ​ 2,338,722 ​ — ​ 2,338,722 Derivative financial liabilities ​ 190,971 ​ — ​ 190,971 ​ ​ ​ ​ ​ ​ ​ Total ​ 3,517,981 ​ 340,162 ​ 3,858,143 ​ ​ 4 Management of financial risk (Continued) 4.1 Financial Risk (Continued) (c) Liquidity risk (Continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2022 ​ Within 1 year 1 to 5 years Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ ​ ​ ​ ​ ​ ​ Short‑term borrowings 294,461 ​ — ​ 294,461 Trade and other payables 1,236,571 ​ 139,387 ​ 1,375,958 - Including: lease liabilities ​ 50,862 ​ 47,093 ​ 97,955 Other financial liabilities from virtual bank ​ 89,327 ​ — ​ 89,327 Customer deposits ​ 1,929,183 ​ — ​ 1,929,183 Non ‑ derivative financial liabilities 3,549,542 ​ 139,387 ​ 3,688,929 ​ ​ ​ ​ ​ ​ ​ Gross settled (foreign currency swaps) ​ ​ ​ ​ ​ - (inflow) (198,722) ​ — ​ (198,722) - outflow 208,290 ​ — ​ 208,290 Derivative financial liabilities 9,568 ​ — ​ 9,568 Total 3,559,110 ​ 139,387 ​ 3,698,497 ​
Schedule of fair value measurement hierarchy of the Group's financial assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2021 ​ Level 1 Level 2 Level 3 Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 Assets measured at fair value ​ ​ ​ ​ Financial assets at fair value through profit or loss (Note 21) — 2,070,977 676 2,071,653 Financial assets measured at fair value through other comprehensive income (Note 16) 16,334 — 1,106,664 1,122,998 Financial liabilities ​ ​ ​ ​ ​ ​ ​ ​ Derivative financial liabilities ​ — ​ 190,971 ​ — ​ 190,971 ​ ​ 4 Management of financial risk (Continued) 4.3 Determination of fair value and fair value hierarchy (Continued) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2022 ​ Level 1 Level 2 Level 3 Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 Assets measured at fair value ​ ​ ​ ​ Financial assets at fair value through profit or loss (Note 21) — ​ 690,627 ​ — ​ 690,627 Financial assets measured at fair value through other comprehensive income (Note 16) 442,935 ​ — ​ 1,611,606 ​ 2,054,541 Derivative financial assets ​ — ​ 56,363 ​ — ​ 56,363 Financial liabilities ​ ​ ​ ​ ​ ​ ​ Derivative financial liabilities ​ — ​ 9,568 ​ — ​ 9,568 ​
Schedule of movements of Level 3 financial instruments measured at fair value	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Beginning of the year 6,438 ​ 5,676 ​ 1,107,340 Additions, net — ​ 1,103,460 ​ 506,620 (Losses)/gain recognised in other comprehensive income ​ — ​ (1,796) ​ (1,678) Losses recognised in other gain ​ (762) ​ — ​ (676) End of the year 5,676 ​ 1,107,340 ​ 1,611,606 ​
Currency risk
Management of financial risk
Schedule of sensitivity analysis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At December 31, ​ At December 31, ​ ​ 2020 ​ 2021 ​ 2022 ​ 2020 ​ 2021 ​ 2022 ​ ​ Impact on post tax profit ​ Impact on other components of equity ​ RMB’000 ​ RMB’000 RMB’000 RMB’000 ​ RMB’000 RMB’000 USD+5% 52,506 ​ (4,028) 1,752 618,581 ​ 260,467 ​ 230,632 USD −5% (52,506) ​ 4,028 (1,752) (618,581) ​ (260,467) ​ (230,632) ​
Interest rate risk
Management of financial risk
Schedule of sensitivity analysis	​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2022 RMB million HKD USD RMB ​ ​ ​ ​ ​ ​ ​ Impact on earnings over the next 12 months if interest rates rise by 200 basis points (9) 9 1 Impact on economic value if interest rates rise by 200 basis points (25) (1) — ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2021 RMB million HKD USD RMB ​ ​ ​ ​ ​ ​ ​ Impact on earnings over the next 12 months if interest rates rise by 200 basis points (20) — 4 Impact on economic value if interest rates rise by 200 basis points (27) — — ​
Trade receivable and contract asset
Management of financial risk
Schedule of movements in the impairment loss allowance	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Beginning of the year (45,944) ​ (97,243) (125,318) Additions of impairment loss, net ​ (118,943) ​ (71,061) ​ (18,715) Recovery of amounts written off previously ​ — ​ — ​ (9,980) Write-off 67,644 ​ 42,986 37,156 Exchange difference ​ — ​ — ​ (42) End of the year (97,243) ​ (125,318) (116,899) ​
Credit risk exposure of other receivables is mainly from financial guarantee fee receivables	​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Gross carrying amount ​ ​ ​ ​ ​ ​ ​ Financial assets measured at amortized cost 13,575 44 Financial assets measured at fair value through other comprehensive income 1,103,460 1,608,402 ​ 1,117,035 1,608,446 ​ ​ ​ ​ ​ Expected credit loss provision 190 — ​ ​ ​ Expected loss rate 1.40 % — ​
Contract assets of transaction based and support service
Management of financial risk
Schedule of movements in the impairment loss allowance	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Beginning of the year ​ — (711) (190) (Additions)/Reversals of impairment loss ​ (711) ​ (1,170) ​ 190 Write‑off ​ — 1,691 — End of the year ​ (711) (190) — ​
Loans and advances to customers.
Management of financial risk
Schedule of movements in the impairment loss allowance	​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ ​ 2020 2021 2022 ​ RMB’000 ​ RMB’000 ​ RMB’000 Beginning of the year — (712) (1,962) (Additions)/Reversals of impairment loss (712) (1,250) (10,616) Write-off — — 1,050 End of the year (712) (1,962) (11,528) ​

Segment information and reven_2

Segment information and revenue (Tables)	12 Months Ended
	Dec. 31, 2022
Segment information and revenue
Summary of segments and principal activities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2020 ​ ​ ​ ​ ​ ​ Intersegment ​ ​ ​ ​ ​ ​ ​ ​ eliminations ​ ​ ​ ​ Virtual Bank ​ Technology ​ and ​ ​ ​ ​ Business ​ Solutions ​ adjustments ​ Consolidated ​ RMB’000 RMB’000 RMB’000 RMB’000 ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue 3,177 3,353,903 (44,790) 3,312,290 Cost of revenue (20,953) (2,092,671) 44,790 (2,068,834) Gross profit (17,776) 1,261,232 — 1,243,456 ​ ​ ​ ​ ​ ​ ​ ​ ​ Research and development expenses (27,395) (1,145,895) — (1,173,290) Selling and marketing expenses (18,622) (610,866) — (629,488) General and administrative expenses (106,291) (728,626) — (834,917) Net impairment losses on financial and contract assets (712) (133,807) — (134,519) Other income, gains or loss-net 7,440 50,992 — 58,432 Operating loss (163,356) (1,306,970) — (1,470,326) ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance income — 77,237 — 77,237 Finance costs (546) (149,817) — (150,363) Finance costs – net (546) (72,580) — (73,126) Share of losses of associate and joint venture — (7,802) — (7,802) Loss before income tax (163,902) (1,387,352) — (1,551,254) ​ ​ ​ ​ ​ ​ ​ ​ ​ ASSETS Segment Assets 1,026,918 9,822,814 (818,197) 10,031,535 Goodwill — 289,161 — 289,161 Deferred income tax assets — 564,562 — 564,562 Total assets 1,026,918 10,676,537 (818,197) 10,885,258 ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES Segment Liabilities 511,105 5,129,511 (60,721) 5,579,895 Deferred income tax liabilities — 20,080 — 20,080 Total Liabilities 511,105 5,149,591 (60,721) 5,599,975 ​ ​ ​ ​ ​ ​ ​ ​ ​ Other segment information Depreciation of property and equipment 8,273 130,258 — 138,531 Amortization of intangible assets 10,720 271,977 — 282,697 Additions of non-current assets except for goodwill and deferred income tax assets 63,997 239,829 — 303,826 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2021 ​ ​ ​ ​ ​ ​ Intersegment ​ ​ ​ ​ ​ ​ ​ ​ eliminations ​ ​ ​ ​ Virtual Bank ​ Technology ​ and ​ ​ ​ ​ Business ​ Solutions ​ adjustments ​ Consolidated ​ RMB’000 RMB’000 RMB’000 RMB’000 ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenue 34,320 4,098,734 (697) 4,132,357 Cost of revenue (37,748) (2,658,655) 697 (2,695,706) Gross profit (3,428) 1,440,079 — 1,436,651 ​ ​ ​ ​ ​ ​ ​ ​ ​ Research and development expenses (33,192) (1,319,826) — (1,353,018) Selling and marketing expenses (38,042) (550,338) — (588,380) General and administrative expenses (99,796) (741,889) — (841,685) Net impairment losses on financial and contract assets (1,250) (70,979) — (72,229) Other income, gains or loss-net 91 13,830 — 13,921 Operating loss (175,617) (1,229,123) — (1,404,740) ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance income — 28,823 — 28,823 Finance costs (310) (76,327) — (76,637) Finance costs – net (310) (47,504) — (47,814) Share of gain of associate and joint venture — 9,946 — 9,946 Loss before income tax (175,927) (1,266,681) — (1,442,608) ​ ​ ​ ​ ​ ​ ​ ​ ​ ASSETS Segment Assets 2,032,344 7,377,469 (1,041,585) 8,368,228 Goodwill — 289,161 — 289,161 Deferred income tax assets — 683,218 — 683,218 Total assets 2,032,344 8,349,848 (1,041,585) 9,340,607 ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES Segment Liabilities 1,459,125 4,097,004 (60,465) 5,495,664 Deferred income tax liabilities — 9,861 — 9,861 Total Liabilities 1,459,125 4,106,865 (60,465) 5,505,525 ​ ​ ​ ​ ​ ​ ​ ​ ​ Other segment information Depreciation of property and equipment 14,195 121,780 — 135,975 Amortization of intangible assets 20,356 282,418 — 302,774 Additions of non-current assets except for goodwill and deferred income tax assets 44,107 201,940 — 246,047 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2022 ​ ​ ​ ​ ​ ​ Intersegment ​ ​ ​ ​ ​ ​ ​ ​ eliminations ​ ​ ​ ​ Virtual Bank ​ Technology ​ and ​ ​ ​ ​ Business ​ Solutions ​ adjustments ​ Consolidated ​ RMB’000 RMB’000 RMB’000 RMB’000 ​ Revenue 106,540 4,360,546 (3,084) 4,464,002 Cost of revenue (56,716) (2,775,354) 3,084 (2,828,986) Gross profit 49,824 1,585,192 — 1,635,016 ​ ​ ​ ​ ​ ​ ​ ​ ​ Research and development expenses (18,276) (1,399,415) — (1,417,691) Selling and marketing expenses (41,408) (369,948) — (411,356) General and administrative expenses (114,546) (710,165) — (824,711) Net impairment losses on financial and contract assets (10,616) (23,023) — (33,639) Other income, gains or loss-net (544) 71,362 — 70,818 Operating loss (135,566) (845,997) — (981,563) ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance income — 14,709 — 14,709 Finance costs (354) (36,819) — (37,173) Finance costs – net (354) (22,110) — (22,464) Share of gain of associate and joint venture — 24,852 — 24,852 Impairment charges on associates ​ — ​ (10,998) ​ — ​ (10,998) Loss before income tax (135,920) (854,253) — (990,173) ​ ​ ​ ​ ​ ​ ​ ​ ​ ASSETS Segment Assets 2,851,885 6,330,769 (1,355,392) 7,827,262 Goodwill — 289,161 — 289,161 Deferred income tax assets — 765,959 — 765,959 Total assets 2,851,885 7,385,889 (1,355,392) 8,882,382 ​ ​ ​ ​ ​ ​ ​ ​ ​ LIABILITIES Segment Liabilities 2,093,126 3,521,957 (15,952) 5,599,131 Deferred income tax liabilities — 5,196 — 5,196 Total Liabilities 2,093,126 3,527,153 (15,952) 5,604,327 ​ ​ ​ ​ ​ ​ ​ ​ ​ Other segment information Depreciation of property and equipment 13,191 106,118 — 119,309 Amortization of intangible assets 26,909 135,212 — 162,121 Additions of non-current assets except for goodwill and deferred income tax assets 45,737 98,740 — 144,477 ​
Disaggregation of revenue from contracts with customers	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 - Technology Solutions ​ ​ ​ ​ ​ ​ Implementation 851,856 ​ 733,648 ​ 861,820 Transaction based and support revenue ​ ​ ​ ​ ​ - Operation support services ​ 1,061,445 ​ 1,097,719 ​ 1,140,727 - Business origination services 605,733 ​ 450,597 ​ 383,723 - Risk management services 362,530 ​ 534,071 ​ 414,849 - Cloud services platform 314,338 ​ 1,050,179 ​ 1,315,819 - Post‑implementation support services 55,678 ​ 49,447 ​ 50,983 - Others 57,533 ​ 182,376 ​ 189,541 ​ ​ ​ ​ ​ ​ ​ ​ 3,309,113 ​ 4,098,037 ​ 4,357,462 ​
Disaggregation of Revenue by timing of transfer of services over time or at a point in time	​ ​ ​ ​ ​ ​ ​ ​ ​ At a point ​ ​ ​ ​ in time ​ Over time ​ Total Year ended December 31, 2020 ​ ​ ​ Implementation — ​ 851,856 ​ 851,856 Transaction based and support revenue ​ ​ ​ ​ - Operation support services 453,720 ​ 607,725 ​ 1,061,445 - Business origination services ​ 605,733 ​ — ​ 605,733 - Risk management services 362,530 ​ — ​ 362,530 - Cloud services platform ​ — ​ 314,338 ​ 314,338 - Post‑implementation support services — ​ 55,678 ​ 55,678 - Others 56,505 ​ 1,028 ​ 57,533 ​ ​ ​ ​ ​ ​ ​ ​ 1,478,488 ​ 1,830,625 ​ 3,309,113 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At a point ​ ​ ​ ​ ​ ​ in time ​ Over time ​ Total Year ended December 31, 2021 ​ ​ ​ ​ ​ Implementation — ​ 733,648 ​ 733,648 Transaction based and support revenue ​ ​ ​ ​ ​ - Operation support services 399,523 ​ 698,196 ​ 1,097,719 - Business origination services ​ 450,597 ​ — ​ 450,597 - Risk management services 534,071 ​ — ​ 534,071 - Cloud services platform ​ — ​ 1,050,179 ​ 1,050,179 - Post-implementation support services — ​ 49,447 ​ 49,447 - Others 181,004 ​ 1,372 ​ 182,376 ​ ​ ​ ​ ​ ​ ​ ​ 1,565,195 ​ 2,532,842 ​ 4,098,037 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ At a point ​ ​ ​ ​ ​ in time Over time Total Year ended December 31, 2022 Implementation 36,266 ​ 825,554 ​ 861,820 Transaction based and support revenue ​ ​ ​ ​ ​ - Operation support services 376,784 ​ 763,943 ​ 1,140,727 - Business origination services 383,723 ​ — ​ 383,723 - Risk management services ​ 414,849 ​ — ​ 414,849 - Cloud services platform — ​ 1,315,819 ​ 1,315,819 - Post-implementation support services — ​ 50,983 ​ 50,983 - Others 189,366 ​ 175 ​ 189,541 ​ ​ ​ ​ ​ ​ ​ ​ 1,400,988 ​ 2,956,474 ​ 4,357,462 ​
Schedule of major customers, the parties to whom service fees were charged	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ​ ​ ended ​ ​ December 31, ​ 2020 2021 2022 ​ % of total % of total % of total ​ ​ revenue ​ revenue ​ revenue Ping An Group and its subsidiaries 52.23 % 56.03 % 56.60 % Lufax Holding Ltd (“Lufax” and its subsidiaries) 11.32 % 11.15 % 10.29 % ​ 63.55 % 67.18 % 66.89 % ​
Schedule of major customers, the parties to whom service fees were charged on loans facilitated	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ​ ​ ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ % of total ​ % of total ​ % of total ​ ​ revenue ​ revenue ​ revenue Ping An Group and its subsidiaries 52.13 % 56.06 % 56.60 % Lufax and its subsidiaries 10.36 % 10.36 % 9.71 % ​ 62.49 % 66.42 % 66.31 % ​ Note: (i) The Group’s lending solution services revenue by parties charged represent the fees received/receivable by the Group from the respective customers. (ii) The Group’s lending solution services revenue by lenders represent the fees generated by the Group from loans facilitated through the Group’s platform for the respective customers as lenders.
Schedule of interest and commission income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ 2020 2021 2022 ​ ​ RMB ’ 000 ​ RMB ’ 000 ​ RMB ’ 000 ​ ​ ​ ​ ​ ​ ​ – ​ ​ ​ ​ ​ ​ ​ Interest and commission income 3,177 34,320 106,540
Schedule revenue related contract assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ At December 31, ​ ​ 2021 ​ 2022 ​ RMB’000 RMB’000 Contract assets ​ ​ ​ ​ -Implementation 271,521 163,769 -Transaction based and support 39,582 18,711 - Business origination services ​ 9,976 ​ 1,404 - Operation support services ​ 17,449 ​ 12,085 - Post implementation support services 12,157 5,222 ​ ​ ​ ​ ​ ​ 311,103 182,480 Less: Impairment loss allowance ​ ​ -Implementation (72,266) (52,385) -Transaction based and support (10,074) (7,467) - Operation support services ​ (4,771) ​ (4,779) - Post implementation support services (5,303) (2,688) ​ ​ ​ ​ ​ ​ (82,340) (59,852) ​ 228,763 122,628 ​ ​ ​ ​ ​ Less: Non-current contract assets (868) — ​ 227,895 122,628 ​ ​ ​ ​ ​ ​ ​ At December 31, ​ ​ 2021 ​ 2022 ​ ​ RMB’000 RMB’000 Contract liabilities ​ ​ -Implementation ​ 24,107 ​ 42,014 -Transaction based and support 149,155 144,613 -Post implementation support services 22,748 21,679 -Risk management services 21,629 20,997 -Operation support services 90,409 87,562 -Others ​ 14,369 ​ 14,375 ​ ​ ​ ​ ​ ​ 173,262 186,627 ​ ​ ​ ​ ​ Less: Non‑current contract liabilities (19,418) (19,977) ​ 153,844 166,650 ​
Schedule of Revenue recognized in relation to contract liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended Revenue recognized in relation to contract liabilities ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Revenue recognized that was included in the contract liability balance at the beginning of the year ​ 104,960 ​ 138,547 ​ 153,844 ​
Schedule of remaining performance obligations of long???term contracts	​ ​ ​ ​ ​ ​ ​ ​ Remaining performance obligations of long-term contracts ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Aggregate amount of the transaction price allocated to long ‑ term contracts that are partially or fully unsatisfied at the end of each year ​ ​ ​ ​ ​ ​ Expected to be recognized within one year 240,089 ​ 455,294 670,991 Expected to be recognized in one to two years 67,464 ​ 89,762 237,126 Expected to be recognized in two to three years 48,475 ​ 33,937 99,208 Expected to be recognized beyond three years 27,688 ​ 31,523 44,365 ​ 383,716 ​ 610,516 1,051,690 ​

Expenses by nature (Tables)

Expenses by nature (Tables)	12 Months Ended
	Dec. 31, 2022
Expenses by nature
Schedule of expenses by nature	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Technology service fees 1,500,711 ​ 2,021,238 2,261,498 Employee benefit expenses (Note 7) 1,643,404 ​ 1,629,375 1,601,989 Outsourcing labor costs 300,323 ​ 437,081 528,582 Business origination fees to channel partners 251,988 ​ 276,966 251,427 Purchase costs of products 74,248 ​ 176,224 183,956 Amortization of intangible assets (Note 13) 282,697 ​ 302,774 162,121 Depreciation of property and equipment (Note 12) 138,531 ​ 135,975 119,309 Listing expenses — ​ 12,467 69,857 Professional service fees ​ 67,137 ​ 48,001 ​ 50,596 Marketing and advertising fees ​ 59,801 ​ 110,775 ​ 50,246 Travelling expenses ​ 54,587 ​ 76,987 ​ 38,873 Auditor's remuneration ​ ​ ​ ​ —Audit related 15,900 ​ 14,657 16,501 —Non-audit 3,149 ​ 1,957 3,150 Impairment loss of intangible assets (Note 13) ​ 23,259 ​ 5,646 ​ 10,208 Others 290,794 ​ 228,666 134,431 Total cost of revenue, research and development expenses, selling and marketing expenses, general and administrative expenses 4,706,529 ​ 5,478,789 5,482,744 ​
Schedule of research and development costs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Technology service fees 1,500,711 ​ 2,021,238 2,261,498 Employee benefit expenses (Note 7) 1,643,404 ​ 1,629,375 1,601,989 Outsourcing labor costs 300,323 ​ 437,081 528,582 Business origination fees to channel partners 251,988 ​ 276,966 251,427 Purchase costs of products 74,248 ​ 176,224 183,956 Amortization of intangible assets (Note 13) 282,697 ​ 302,774 162,121 Depreciation of property and equipment (Note 12) 138,531 ​ 135,975 119,309 Listing expenses — ​ 12,467 69,857 Professional service fees ​ 67,137 ​ 48,001 ​ 50,596 Marketing and advertising fees ​ 59,801 ​ 110,775 ​ 50,246 Travelling expenses ​ 54,587 ​ 76,987 ​ 38,873 Auditor's remuneration ​ ​ ​ ​ —Audit related 15,900 ​ 14,657 16,501 —Non-audit 3,149 ​ 1,957 3,150 Impairment loss of intangible assets (Note 13) ​ 23,259 ​ 5,646 ​ 10,208 Others 290,794 ​ 228,666 134,431 Total cost of revenue, research and development expenses, selling and marketing expenses, general and administrative expenses 4,706,529 ​ 5,478,789 5,482,744 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Research and development costs ​ ​ ​ ​ -Employee benefit expenses 610,564 ​ 514,456 469,320 -Technology service fees 682,222 ​ 859,324 946,700 -Amortization of intangible assets 3,812 ​ 3,396 6,282 -Depreciation of property and equipment 9,659 ​ 11,182 14,168 -Impairment loss of intangible assets ​ 5,597 ​ 3,747 ​ 3,837 -Others 37,438 ​ 23,200 22,334 Amounts incurred 1,349,292 ​ 1,415,305 1,462,641 ​ ​ ​ ​ ​ ​ ​ Less: capitalized ​ ​ ​ ​ -Employee benefit expenses (125,767) ​ (45,016) (19,827) -Technology service fees (50,235) ​ (17,271) (25,123) ​ (176,002) ​ (62,287) (44,950) ​ 1,173,290 ​ 1,353,018 1,417,691

Employee benefit expenses (Tabl

Employee benefit expenses (Tables)	12 Months Ended
	Dec. 31, 2022
Employee benefit expenses
Schedule of employee benefit expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Wages and salaries 1,319,554 ​ 1,276,205 1,235,714 Welfare and other benefits 248,870 ​ 330,552 353,099 Share‑based payments (Note 26) 74,980 ​ 22,618 13,176 ​ 1,643,404 ​ 1,629,375 1,601,989

Other income, gains or loss -_2

Other income, gains or loss - net (Tables)	12 Months Ended
	Dec. 31, 2022
Other income, gains or loss - net
Schedule of other income, gains or loss	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Net foreign exchange gain/(loss) 285,722 ​ 77,143 ​ (312,843) Government grants and tax rebates (Note a) 63,627 ​ 51,080 ​ 58,013 Net gain on financial assets at fair value through profit or loss 49,447 ​ 45,644 ​ 30,687 Gain on dilution of interest in associate (Note 14) 2,511 ​ — ​ — Gain/(loss) on disposal of property and equipment and intangible asset 1,302 ​ (266) ​ (6,198) Remeasurement of redemption liability (Note b) — ​ — ​ 37,874 Guarantee (loss)/gain, net (69,185) ​ 10,757 ​ — Net (loss)/gain on derivatives (281,691) ​ (169,545) ​ 262,769 Others ​ 6,699 ​ (892) ​ 516 ​ ​ 58,432 ​ 13,921 ​ 70,818 ​ (a) Government grants and tax rebates ​ Government grants and tax rebates were related to income. There were no unfulfilled conditions or contingencies related to these subsidies. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Government grants 44,202 ​ 28,871 27,421 - Technology development incentives 25,425 ​ 14,391 10,493 - Epidemic subsidies 4,000 ​ — — - Operation subsidies 14,777 ​ 14,480 16,928 Tax rebates ​ 19,425 ​ 22,209 ​ 30,592 ​ 63,627 ​ 51,080 58,013 ​

Finance costs - net (Tables)

Finance costs - net (Tables)	12 Months Ended
	Dec. 31, 2022
Finance costs - net
Schedule of net finance costs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Finance income ​ ​ ​ ​ Interest income on bank deposits 77,237 ​ 28,823 ​ 14,709 ​ ​ ​ ​ ​ ​ ​ Finance costs ​ ​ ​ ​ Interest expense on borrowings (127,585) ​ (56,534) ​ (17,303) Interest expense on lease liabilities (7,736) ​ (5,803) ​ (7,578) Interest expense on redemption liability (14,326) ​ (12,406) ​ (10,287) Bank charges (716) ​ (1,894) ​ (2,005) ​ ​ (150,363) ​ (76,637) ​ (37,173) ​ ​ ​ ​ ​ ​ ​ ​ (73,126) ​ (47,814) ​ (22,464)

Income tax benefits (Tables)

Income tax benefits (Tables)	12 Months Ended
	Dec. 31, 2022
Income tax benefits
Schedule of income tax benefit	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Current income tax ​ (16,856) ​ (16,780) ​ (25,259) Deferred income tax ​ 153,987 ​ 128,875 ​ 87,406 Income tax benefit ​ 137,131 ​ 112,095 ​ 62,147 ​
Schedule of tax on the Group's loss before income tax differs from the theoretical amount statutory tax rate applicable to loss of the consolidated entities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 RMB’000 RMB’000 Loss before income tax ​ 1,551,254 ​ 1,442,608 ​ 990,173 Tax calculated at PRC statutory income tax rate of 25% ​ 387,814 ​ 360,652 ​ 247,543 Differential of income tax rates applicable to subsidiaries ​ (145,000) ​ (161,199) ​ (119,211) Expense not deductible for tax purposes ​ (35,455) ​ (10,169) ​ (5,659) Incomes not subject to tax ​ 6,899 ​ 1,732 ​ 542 Tax losses and temporary differences for which no deferred income tax asset was recognized ​ (81,698) ​ (87,237) ​ (73,690) Derecognization of deferred tax assets on tax losses ​ (3,137) ​ (23) ​ — Additional deductible allowance for research and development expenses ​ 6,873 ​ 8,255 ​ 10,164 Utilization of previously unrecognized tax losses ​ 835 ​ 84 ​ 2,458 Income tax benefit ​ 137,131 ​ 112,095 ​ 62,147 ​
Schedule of unused tax losses	​ ​ ​ ​ ​ ​ ​ ​ At December 31, ​ 2021 2022 ​ ​ RMB’000 RMB’000 Unused tax losses for which no deferred tax asset has been recognized ​ 1,982,709 2,525,806 ​
Schedule of unused tax losses by expiration date	​ ​ ​ ​ ​ ​ ​ ​ At December 31, ​ 2021 2022 ​ ​ RMB’000 RMB’000 ​ ​ ​ ​ ​ Year 2022 ​ 277,048 ​ 277,048 Year 2023 ​ 118,502 ​ 118,796 Year 2024 ​ 419,866 ​ 419,866 Year 2025 ​ 82,441 ​ 83,576 Year 2026 ​ 104,316 ​ 208,346 Year 2027 ​ — ​ 67,745 Year 2028 ​ 1,826 ​ 1,826 Year 2029 ​ 7,149 ​ 7,149 Year 2030 ​ 8,051 ​ 8,049 Year 2031 ​ 60,059 ​ 56,195 Year 2032 ​ — ​ 122,036 ​

Loss per share (Tables)

Loss per share (Tables)	12 Months Ended
	Dec. 31, 2022
Loss per share
Schedule of loss per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 2021 2022 ​ ​ RMB’000 RMB’000 RMB’000 Net loss for the year attributable to owners of the Company ​ (1,353,608) ​ (1,281,699) ​ (872,274) Weighted average number of ordinary shares in issue (in’000 shares) ​ 1,064,710 ​ 1,108,291 ​ 1,094,748 ​ ​ ​ ​ ​ ​ ​ Basic loss per share (RMB yuan) ​ (1.27) ​ (1.16) ​ (0.80) Diluted loss per share (RMB yuan) ​ (1.27) ​ (1.16) ​ (0.80) ​ ​ ​ ​ ​ ​ ​ Basic loss per ADS (RMB yuan) (Note) ​ (38.14) ​ (34.69) ​ (23.90) Diluted loss per ADS (RMB yuan) (Note) ​ (38.14) ​ (34.69) ​ (23.90) ​

Property and equipment (Tables)

Property and equipment (Tables)	12 Months Ended
	Dec. 31, 2022
Property and equipment.
Schedule of property and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Office and ​ ​ ​ ​ ​ ​ ​ ​ telecommunication ​ Right ‑ of ‑ use ​ Leasehold ​ ​ ​ equipment properties improvements Total ​ ​ RMB’000 RMB’000 ​ RMB’000 RMB’000 As at January 1, 2021 ​ Cost 103,462 ​ 362,322 ​ 93,736 ​ 559,520 Accumulated depreciation (49,454) ​ (240,317) ​ (40,306) ​ (330,077) Exchange difference ​ (2,969) ​ (1,064) ​ (1,126) ​ (5,159) Net book amount 51,039 ​ 120,941 ​ 52,304 ​ 224,284 ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2021 ​ Opening net book amount 51,039 ​ 120,941 ​ 52,304 ​ 224,284 Additions 30,484 ​ 118,030 ​ 15,069 ​ 163,583 Disposals, net (1,285) ​ (5,723) ​ — ​ (7,008) Depreciation charge (21,682) ​ (88,974) ​ (25,319) ​ (135,975) Exchange difference ​ (108) ​ (273) ​ (91) ​ (472) Closing net book amount 58,448 ​ 144,001 ​ 41,963 ​ 244,412 ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2021 ​ Cost 126,626 ​ 461,605 ​ 108,805 ​ 697,036 Accumulated depreciation ​ (65,102) ​ (316,267) ​ (65,625) ​ (446,994) Exchange difference (3,076) ​ (1,337) ​ (1,217) ​ (5,630) Net book amount 58,448 ​ 144,001 ​ 41,963 ​ 244,412 ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ Opening net book amount ​ 58,448 ​ 144,001 ​ 41,963 ​ 244,412 Additions ​ 15,481 ​ 76,534 ​ 6,585 ​ 98,600 Disposals, net ​ (9,467) ​ (57,952) ​ (8,292) ​ (75,711) Depreciation charge ​ (23,027) ​ (75,519) ​ (20,763) ​ (119,309) Exchange difference ​ 420 ​ 2,510 ​ 479 ​ 3,409 Closing net book amount ​ 41,855 ​ 89,574 ​ 19,972 ​ 151,401 ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ Cost ​ 120,373 ​ 358,173 ​ 115,390 ​ 593,936 Accumulated depreciation ​ (75,862) ​ (269,772) ​ (94,680) ​ (440,314) Exchange difference ​ (2,656) ​ 1,173 ​ (738) ​ (2,221) Net book amount ​ 41,855 ​ 89,574 ​ 19,972 ​ 151,401 ​
Schedule of approximate depreciation charge	​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ ​ 2021 ​ 2022 ​ RMB’000 RMB’000 Cost of revenue 3,633 ​ 2,750 Research and development expenses 11,182 ​ 14,168 Selling and marketing expenses 4,525 ​ 4,814 General and administrative expenses 116,635 ​ 97,577 ​ 135,975 ​ 119,309 ​

Intangible assets (Tables)

Intangible assets (Tables)	12 Months Ended
	Dec. 31, 2022
Intangible assets.
Schedule of intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Application and platform ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contributed ​ ​ ​ ​ ​ ​ ​ Development ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ by Ping ​ Developed ​ ​ ​ Purchased ​ costs in ​ ​ ​ Business ​ ​ ​ ​ ​ An Group internally Acquired Software progress Goodwill license Others Total ​ RMB’000 RMB’000 ​ RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Year ended December 31, 2021 ​ ​ Opening net book amount — ​ 287,674 ​ 29,709 ​ 44,758 ​ 121,122 ​ 289,161 ​ 124,145 ​ 20,494 ​ 917,063 Additions — ​ — ​ 570 ​ 19,606 ​ 62,287 ​ — ​ — ​ — ​ 82,463 Disposal, net — ​ — ​ — ​ (1,103) ​ — ​ — ​ — ​ — ​ (1,103) Write-off ​ — ​ (1,899) ​ — ​ — ​ (3,747) ​ — ​ — ​ — ​ (5,646) Transfer — ​ 133,548 ​ — ​ — ​ (133,548) ​ — ​ — ​ — ​ — Amortization — ​ (190,503) ​ (28,048) ​ (36,013) ​ — ​ — ​ (31,804) ​ (16,406) ​ (302,774) Exchange differences ​ — ​ (1,877) ​ - ​ (207) ​ (725) ​ — ​ — ​ — ​ (2,809) Closing net book amount — ​ 226,943 ​ 2,231 ​ 27,041 ​ 45,389 ​ 289,161 ​ 92,341 ​ 4,088 ​ 687,194 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost 690,910 ​ 721,175 ​ 61,078 ​ 148,807 ​ 46,114 ​ 289,161 ​ 155,492 ​ 80,263 ​ 2,193,000 Accumulated amortization (690,910) ​ (491,264) ​ (58,847) ​ (121,156) ​ - ​ - ​ (63,151) ​ (76,175) ​ (1,501,503) Exchange differences ​ — ​ (2,968) ​ — ​ (610) ​ (725) ​ - ​ - ​ - ​ (4,303) Net book amount — ​ 226,943 ​ 2,231 ​ 27,041 ​ 45,389 ​ 289,161 ​ 92,341 ​ 4,088 ​ 687,194 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Application and platform ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contributed ​ ​ ​ ​ ​ ​ ​ Development ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ by Ping ​ Developed ​ ​ ​ Purchased ​ costs in ​ ​ ​ Business ​ ​ ​ ​ ​ An Group internally Acquired Software progress Goodwill license Others Total ​ RMB’000 RMB’000 ​ RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Opening net book amount ​ — ​ 226,943 ​ 2,231 ​ 27,041 ​ 45,389 ​ 289,161 ​ 92,341 ​ 4,088 ​ 687,194 Additions ​ — ​ — ​ — ​ 927 ​ 44,950 ​ — ​ — ​ — ​ 45,877 Write-off ​ — ​ (6,371) ​ — ​ — ​ (3,837) ​ — ​ — ​ — ​ (10,208) Transfer ​ — ​ 58,528 ​ — ​ — ​ (58,528) ​ — ​ — ​ — ​ — Amortization ​ — ​ (110,801) ​ (2,231) ​ (15,729) ​ — ​ — ​ (31,315) ​ (2,045) ​ (162,121) Exchange differences ​ — ​ 7,907 ​ — ​ 582 ​ 1,205 ​ — ​ — ​ — ​ 9,694 Closing net book amount ​ — ​ 176,206 ​ — ​ 12,821 ​ 29,179 ​ 289,161 ​ 61,026 ​ 2,043 ​ 570,436 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost ​ 690,910 ​ 773,332 ​ 61,078 ​ 149,734 ​ 28,699 ​ 289,161 ​ 155,492 ​ 80,263 ​ 2,228,669 Accumulated amortization ​ (690,910) ​ (602,065) ​ (61,078) ​ (136,885) ​ — ​ — ​ (94,466) ​ (78,220) ​ (1,663,624) Exchange differences ​ — ​ 4,939 ​ — ​ (28) ​ 480 ​ — ​ — ​ — ​ 5,391 Net book amount ​ — ​ 176,206 ​ — ​ 12,821 ​ 29,179 ​ 289,161 ​ 61,026 ​ 2,043 ​ 570,436 ​
Schedule of amortization expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, Amortization of intangible assets ​ 2020 ​ 2021 ​ 2022 ​ RMB’000 RMB’000 RMB’000 ​ ​ ​ ​ ​ ​ ​ Cost of revenue 275,479 ​ 297,406 ​ 146,466 Research and development expenses 3,812 ​ 3,396 ​ 6,282 General and administrative expenses 3,406 ​ 1,972 ​ 9,373 ​ 282,697 ​ 302,774 ​ 162,121 ​
Schedule of key assumptions used for value-in-use calculations	​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ ​ 2021 2022 ​ ​ ​ RMB'000 ​ RMB'000 ​ ​ ​ ​ ​ ​ Revenue growth rate ​ 10%-24 % -15%-13 % Profit Margin ​ -24%-15 % -15%-10 % Long term growth rate 2 % 2 % Pre-tax discount rate ​ 16.30 % 17.50 % Recoverable amount of the CGU exceeding its carrying amount (RMB’000) 3,191,952 ​ 781,499 ​ ​
Schedule of possible changes of key assumptions	​ ​ ​ ​ ​ ​ Possible changes of significant assumptions ​ Recoverable amount of the CGU ​ ​ exceeding its carrying amount ​ ​ Year ended December 31, ​ 2021 2022 ​ RMB ’ 000 RMB ’ 000 ​ ​ ​ ​ ​ Revenue growth rate decrease by 5% 1,325,839 373,790 Profit margin decrease by 1% ​ 2,532,835 ​ 459,556 Long term growth rate decrease by 1% 2,741,710 669,058 Pre-tax discount rate increase by 1% 2,594,933 616,950

Investments accounted for usi_2

Investments accounted for using the equity method (Tables)	12 Months Ended
	Dec. 31, 2022
Investments accounted for using the equity method
Schedule of investment in associate and percentage of equity interest held in associate	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ RMB’000 RMB’000 RMB’000 At beginning of year 115,124 ​ 172,757 ​ 184,907 Additions 60,000 ​ — ​ — Share of (losses)/gain of associate (4,878) ​ 12,150 ​ 25,291 Gain on dilution of interest in associate (Note 8) 2,511 ​ — ​ — ​ ​ 172,757 ​ 184,907 ​ 210,198 Less: impairment loss allowance ​ — ​ — ​ (10,998) At end of year 172,757 ​ 184,907 ​ 199,200
Schedule of Summarised financial information for associate	​ ​ ​ ​ ​ ​ ​ ​ Summarised balance sheet ​ As at December 31, ​ 2020 2021 2022 ​ ​ RMB ’ 000 ​ RMB ’ 000 ​ RMB ’ 000 ​ ​ ​ ​ ​ ​ ​ Total assets 423,148 1,075,852 1,686,575 Total liabilities (60,650) (682,979) (1,230,475) Net assets 362,498 392,873 456,100 ​ ​ ​ ​ ​ ​ ​ ​ ​ Summarised income statement ​ For the year ended December 31, ​ 2020 2021 2022 ​ ​ RMB ’ 000 ​ RMB ’ 000 ​ RMB ’ 000 ​ ​ ​ ​ ​ ​ ​ ​ Operating income 51,690 96,372 144,762 ​ Profit or loss from continuing operations (13,473) 30,375 63,228 ​ ​ ​ ​ ​ ​ ​ ​ ​ Group ’ 40 % 40 % 40 % Group’s share in net assets 144,999 157,149 182,440 ​ Goodwill 27,758 27,758 27,758 ​ ​ 172,757 184,907 210,198 ​ Less: impairment charges on associates — — (10,998) ​ Carrying amount 172,757 184,907 199,200 ​ ​
Schedule of Investment in joint venture and percentage of equity interest held in joint venture	​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ ​ ​ ​ ​ ​ ​ At beginning of year ​ 3,705 ​ 2,976 ​ 439 Additions ​ 2,040 ​ — ​ — Share of losses of joint venture ​ (2,924) ​ (2,204) ​ (439) Exchange difference ​ 155 ​ (333) ​ — At end of year ​ 2,976 ​ 439 ​ — ​

Financial instruments by cate_2

Financial instruments by category (Tables)	12 Months Ended
	Dec. 31, 2022
Financial instruments by category
Schedule of financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ Note 2021 2022 ​ ​ ​ RMB’000 RMB’000 Financial assets ​ ​ ​ Financial assets at amortized cost ​ ​ ​ - Trade receivables 18 891,174 940,989 - Prepayments and other receivables (excluding non-financial asset items) 19 543,538 816,179 - Financial assets measured at amortized cost from banking operations ​ 20 ​ 13,385 ​ 44 - Restricted cash and time deposits over three months 22 1,060,427 343,814 - Cash and cash equivalents 23 1,399,370 1,907,776 Financial assets measured at fair value through other comprehensive income (FVOCI) 16 1,122,998 2,054,541 Financial assets at fair value through profit or loss (FVPL) 21 2,071,653 690,627 Derivative financial asset ​ ​ ​ ​ ​ ​ - Held at FVPL ​ 31 ​ — ​ 56,363 Total ​ 7,102,545 6,810,333 ​ ​ ​ ​ ​ ​ ​ Financial liabilities ​ ​ ​ Liabilities at amortized cost ​ ​ ​ - Trade and other payables (excluding non-financial liability items) ​ 1,464,750 1,355,329 - Short-term borrowings 28 815,260 289,062 - Customer deposits ​ 29 ​ 1,350,171 ​ 1,929,183 - Other financial liablilties from virtual bank ​ 30 ​ — ​ 89,327 Derivative financial liability ​ ​ ​ ​ - Held at FVPL 31 190,971 9,568 Total ​ 3,821,152 3,672,469

Financial assets at fair valu_3

Financial assets at fair value through other comprehensive income (Table)	12 Months Ended
	Dec. 31, 2022
Financial assets measured at fair value through other comprehensive income.
Schedule of financial assets at fair value through other comprehensive income	​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ RMB’000 RMB’000 ​ ​ ​ ​ ​ Loans and advances to customers ​ 1,103,460 ​ 1,608,402 Equity securities (Note a) 3,204 3,204 Debt securities ​ 16,334 ​ 442,935 ​ ​ 1,122,998 ​ 2,054,541 ​ ​ ​ ​ ​ Less: Non-current financial asset measured at fair value through other comprehensive income ​ (640,501) ​ (821,110) ​ ​ 482,497 ​ 1,233,431 (a) On August 4, 2016, the Group acquired 5% equity interest in Fujian Exchange Settlement Centre Co., Ltd. ( 福建交易場所清算中心股份有限公司

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases
Schedule of amounts recognized in the balance sheet	​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Right ‑ of ‑ use assets (Note 12) ​ ​ ​ ​ - Properties 144,001 89,574 ​ ​ ​ ​ ​ Lease liabilities (Note 27) ​ ​ - Non current 97,473 44,553 - Current 57,417 47,030 ​ 154,890 91,583 ​
Schedule of amounts recognized in the statement of profit or loss	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ ​ 2020 ​ 2021 ​ 2022 ​ RMB’000 RMB’000 RMB’000 Depreciation charge of right‑of‑use assets 97,924 ​ 88,974 ​ 75,519 Interest expenses (included in finance cost) 7,736 ​ 5,803 ​ 7,578 ​ 105,660 ​ 94,777 ​ 83,097 ​

Trade receivables (Tables)

Trade receivables (Tables)	12 Months Ended
	Dec. 31, 2022
Trade receivables
Schedule of trade receivables	​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ RMB’000 RMB’000 Trade receivables 934,152 998,036 Less: impairment loss allowance (Note 4.1(b)) (42,978) (57,047) ​ 891,174 940,989 ​
Schedule of trade receivables and aging analysis	​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ RMB’000 RMB’000 Trade receivables 934,152 998,036 Less: impairment loss allowance (Note 4.1(b)) (42,978) (57,047) ​ 891,174 940,989 ​ Trade receivables and their aging analysis, based on recognition date, are as follows: ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB ’ 000 ​ RMB ’ 000 ​ ​ ​ ​ ​ Up to 1 year 897,114 932,479 1 to 2 years 22,920 42,752 2 to 3 years 8,026 13,857 Above 3 years 6,092 8,948 ​ 934,152 998,036

Prepayments and other receiva_2

Prepayments and other receivables (Tables)	12 Months Ended
	Dec. 31, 2022
Prepayments and other receivables
Schedule of Prepayment and other receivables	​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Deposit receivable * ​ 539,625 ​ 776,481 Value-added-tax deductible 53,437 143,338 Advance to suppliers 93,230 71,755 Advance to staff 42,343 47,332 Receivables for value-added-tax paid on behalf of wealth management products 6,881 455 Others 20,119 46,519 ​ ​ ​ ​ ​ Less: impairment loss allowance (2,968) (7,276) ​ 752,667 1,078,604 ​
Schedule of impairment loss allowance on prepayment and other receivables	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Beginning of the year ​ (1,332) ​ (3,349) ​ (2,968) (Additions)/Reversals ​ (2,569) ​ 2 ​ (4,308) Write-off ​ 536 ​ 365 ​ — Exchange differences ​ 16 ​ 14 ​ — End of the year (3,349) (2,968) (7,276)

Financial assets measured at _2

Financial assets measured at amortized cost from virtual bank (Tables)	12 Months Ended
	Dec. 31, 2022
Financial assets measured at amortized cost from virtual bank
Schedule of financial assets measured at amortized cost from virtual bank	​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Loans and advances to customers 13,575 44 Less: expected credit loss provision (190) — ​ 13,385 44 Less: non-current portion Loans and advances to customers (674) — ​ 12,711 44 ​

Financial assets at fair valu_4

Financial assets at fair value through profit or loss (Tables)	12 Months Ended
	Dec. 31, 2022
Financial assets at fair value through profit or loss.
Schedule of financial assets	​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Contingent refundable consideration ​ 676 ​ — Wealth management products ​ 2,070,977 ​ 690,627 ​ ​ 2,071,653 ​ 690,627 ​

Restricted cash and time depo_2

Restricted cash and time deposits over three months (Tables)	12 Months Ended
	Dec. 31, 2022
Restricted cash and time deposits over three months
Schedule of restricted cash	​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Pledged bank deposits ​ 1,043,718 ​ 198,320 Accrued interests ​ 6,444 1,238 Time deposits with initial terms over three months ​ 10,265 ​ 144,256 ​ ​ 1,060,427 343,814 ​

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	12 Months Ended
	Dec. 31, 2022
Cash and cash equivalents.
Schedule of cash and cash equivalents	​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Cash on hand ​ 12 ​ 12 Cash at central bank ​ 575,044 ​ 214,768 Cash at banks ​ 824,314 1,692,996 ​ ​ 1,399,370 1,907,776 ​ ​ ​ ​ ​ ​ ​ ​ At December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 USD ​ 72,093 ​ 313,559 RMB ​ 554,781 1,045,135 HKD ​ 763,126 ​ 530,861 SGD ​ 7,335 13,821 IDR ​ 473 ​ 1,680 MYR ​ 164 ​ 1,585 PHP ​ 1,398 ​ 1,135 ​ ​ 1,399,370 1,907,776

Share capital (Tables)

Share capital (Tables)	12 Months Ended
	Dec. 31, 2022
Share capital
Schedule of share capital	​ ​ ​ ​ ​ ​ ​ Number of shares USD Authorized ​ ​ ​ ​ Ordinary shares of USD0.00001 at December 31, 2020, 2021 and 2022 5,000,000,000 50,000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Equivalent ​ ​ Number of shares ​ USD ​ to RMB Issued ​ ​ ​ ​ ​ ​ Ordinary shares of USD0.00001 at December 31, 2017 900,000,000 9,000 59,838 Newly issued ordinary shares (Note a) 99,999,999 1,000 6,331 Ordinary shares of USD0.00001 at December 31, 2018 999,999,999 10,000 66,169 Newly issued ordinary shares (Note b) ​ 3,720,665 ​ 37 ​ 257 Newly issued ordinary shares upon initial public offering (Note c) ​ 93,600,000 ​ 936 ​ 6,549 Ordinary shares of USD0.00001 at December 31, 2019 1,097,320,664 10,973 72,975 Newly issued ordinary shares (Note d) ​ 72,660,000 ​ 727 ​ 5,033 Surrendered ordinary shares (Note e) ​ (3) ​ — ​ — Ordinary shares of USD0.00001 at December 31, 2020 1,169,980,661 11,700 78,008 Surrendered ordinary shares (Note f) ​ (8) ​ — ​ — Ordinary shares of USD0.00001 at December 31, 2021 and 2022 ​ 1,169,980,653 ​ 11,700 ​ 78,008 (a) The Company completed its Round A investments (“Round A Investments”) in April 2018 with 12 investors. 99,999,999 ordinary shares were issued to the Round A Investors at a price of USD7.5 per share for an aggregate consideration of approximately USD750 million (approximately RMB4,750,965,000). These shares rank pari passu in all respects with the shares then in issue. (b) On March 11, 2019, the Company issued 1,748,501 ordinary shares to National Dream Limited, the offshore entity of Vantage Point Technology, for a total subscription price of USD13,114,000 (approximately RMB88,030,000) pursuant to a share subscription agreement entered into in July 2018. On November 26, 2019, the Company issued 1,267,520 ordinary shares to Great Lakes Limited, the offshore entity of View Foundation’s selling shareholder, for a total subscription price of USD9,506,400 (approximately RMB66,877,000) pursuant to a share subscription agreement entered into in August, 2019. On November 27, 2019, the Company issued 563,714 and 140,930 ordinary shares to Blossom View Limited and Gold Planning Limited, respectively, which are the offshore entities designated by certain selling shareholders of BER Technology, for a total subscription price of USD5,284,830 (approximately RMB37,175,000) pursuant to a share subscription agreement entered into in September, 2019. (c) On December 13, 2019, the Company completed its IPO on the New York Stock Exchange. In the offering, 31,200,000 ADSs, representing 93,600,000 ordinary shares, were newly issued. (d) On January 14, 2020, the over-allotment options for the IPO were partially exercised and an addition of 3,520,000 ADSs were newly issued, which represented 10,560,000 ordinary shares. On August 17, 2020, the Company completed its underwritten public offerings of 18,000,000 ADSs issued and 2,700,000 ADSs issued pursuant to the over-allotment options, which totally represented 62,100,000 ordinary shares. (e) On December 11, 2020 and December 24, 2020, the Company bought back and cancelled 3 ordinary shares from Round A Investors. (f) On April 1, 2021 and April 2, 2021, the Company bought back and cancelled 8 ordinary shares from Round A Investors.

Other reserves (Tables)

Other reserves (Tables)	12 Months Ended
	Dec. 31, 2022
Other reserves
Schedule of other reserves	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign ​ ​ ​ ​ ​ ​ ​ ​ Share ‑ based ​ currency ​ ​ ​ ​ ​ ​ Recapitalization ​ Share ​ compensation ​ translation ​ ​ ​ ​ ​ ​ reserve ​ premium ​ reserve ​ differences ​ Others ​ Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at January 1, 2020 1,200,000 ​ 6,929,485 ​ 84,491 ​ 475,295 ​ (227,634) ​ 8,461,637 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ -Foreign currency translation differences — ​ — ​ — ​ (608,427) ​ — ​ (608,427) -Fair value changes on financial assets measured at fair value through other comprehensive income ​ — ​ — ​ — ​ — ​ (39) ​ (39) Share premium from issuance of ordinary shares (a) ​ — ​ 2,697,674 ​ — ​ — ​ — ​ 2,697,674 Share-based payments： ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ - Value of employee services and business cooperation arrangements — ​ — ​ 89,652 ​ — ​ — ​ 89,652 - Vesting of shares under Restricted Share Unit Scheme — ​ — ​ (566) ​ — ​ — ​ (566) As at December 31, 2020 1,200,000 ​ 9,627,159 ​ 173,577 ​ (133,132) ​ (227,673) ​ 10,639,931 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ -Foreign currency translation differences ​ — ​ — ​ — ​ (152,542) ​ — ​ (152,542) -Fair value changes on financial assets measured at fair value through other comprehensive income ​ — ​ — ​ — ​ — ​ (1,812) ​ (1,812) Share-based payments： ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ - Value of employee services and business cooperation arrangements(Note 26) ​ — ​ — ​ 25,409 ​ — ​ — ​ 25,409 - Exercise of shares under share option Scheme ​ ​ ​ ​ ​ 2,345 ​ ​ ​ ​ ​ 2,345 - Vesting of shares under Restricted Share Unit Scheme ​ — ​ — ​ (700) ​ — ​ — ​ (700) As at December 31, 2021 ​ 1,200,000 ​ 9,627,159 ​ 200,631 ​ (285,674) ​ (229,485) ​ 10,512,631 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Other comprehensive income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ -Foreign currency translation differences ​ — ​ — ​ — ​ 426,145 ​ — ​ 426,145 -Fair value changes on financial assets measured at fair value through other comprehensive income ​ — ​ — ​ — ​ — ​ 5,324 ​ 5,324 Share-based payments： ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ - Value of employee services and business cooperation arrangements (Note 26) ​ — ​ — ​ 13,361 ​ — ​ — ​ 13,361 - exercise of shares under share option Scheme ​ — ​ — ​ 331 ​ — ​ — ​ 331 - Vesting of shares under Restricted Share Unit Scheme ​ — ​ — ​ (4,720) ​ — ​ — ​ (4,720) As at December 31, 2022 ​ 1,200,000 ​ 9,627,159 ​ 209,603 ​ 140,471 ​ (224,161) ​ 10,953,072 (a) The excess of the net proceeds of approximately RMB225,727,710 received from the over-allotment options for the IPO over the aggregate par value of the ordinary shares of the Company at approximately RMB728 (Note 24(d)), being RMB225,727,000, was credited to the share premium account of the Company.

Share-based payments (Tables)

Share-based payments (Tables)	12 Months Ended
	Dec. 31, 2022
Disclosure of terms and conditions of share-based payment arrangement
Schedule of Share-based compensation expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 -Cost of revenue ​ 6,904 ​ 935 ​ — -Research and development expenses ​ 26,635 ​ 5,185 ​ — -Selling and marketing expenses ​ 21,049 ​ 2,854 ​ 1,002 -General and administrative expenses ​ 35,064 ​ 16,435 ​ 12,359 Total ​ 89,652 ​ 25,409 ​ 13,361 ​ ​ ​ ​ ​ ​ ​ Value of employee's services (Note 7) ​ 74,980 ​ 22,618 ​ 13,176 Value of non-employee's services ​ 14,672 ​ 2,791 ​ 185 Total ​ 89,652 ​ 25,409 ​ 13,361 ​
Schedule of movements in the number of share options	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of share options ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 At the beginning of the year ​ 24,470,325 ​ 19,459,994 ​ 12,725,995 Exercised ​ — ​ (5,181,306) ​ (621,930) Forfeited (5,010,331) (1,552,693) (1,966,721) At the end of the year 19,459,994 12,725,995 10,137,344 ​
Schedule of share options outstanding	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of share options ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, Grant Year Expiry Year Exercise price Fair value of options ​ 2021 2022 2017 ​ 2027 ​ RMB1.33 ​ RMB0.62 ​ 1,109,682 ​ 977,951 2017 2027 RMB2.00 RMB0.52 ​ 5,785,221 5,295,021 2018 2028 RMB52.00 RMB26.00 ​ 4,704,219 3,044,462 2019 ​ 2029 ​ RMB52.00 ​ RMB23.42 ​ 1,126,873 ​ 819,910 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 12,725,995 10,137,344 ​
Schedule of key assumptions of the share option	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ November 7, November 8, June 1, Date of grant ​ 2017 ​ 2018 ​ 2019 Discount rate 24.0 % 17.0 % 17.0 % Risk‑free interest rate 4.0 % 4.0 % 3.0 % Volatility 52.0 % 51.0 % 46.0 % Dividend yield 0.0 % 0.0 % 0.0 % ​
Schedule of movements in the number of restricted share units	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of restricted share units ​ ​ For the year ended December 31, ​ 2020 2021 2022 ​ ​ ​ ​ ​ ​ ​ At the beginning of the year 2,306,000 1,751,702 16,552,829 Granted 470,000 17,033,120 28,745,900 Vested ​ (424,256) ​ (524,358) ​ (3,538,551) Forfeited (600,042) (1,707,635) (5,528,084) At the end of the year 1,751,702 16,552,829 36,232,094 ​
Schedule of key assumptions of the restricted share units	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ Date of grant 2020 ​ 2021 ​ 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ Discount rate * 15.0 % 15.0 % 15.0 % Risk-free interest rate 2.0%~3.0 % 2.0%~3.0 % 2.0%~3.0 % Volatility 43.0%~49.0 % 43.0%~49.0 % 43.0%~49.0 % Dividend yield 0.0 % 0.0 % 0.0 %
Shares reserved
Disclosure of terms and conditions of share-based payment arrangement
Schedule of share options outstanding	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Number of restricted share units ​ ​ ​ ​ ​ ​ As at December 31, ​ ​ ​ 2021 2022 ​ ​ ​ ​ Fair value of restricted share units ​ ​ ​ ​ Grant Year ​ Expiry Year ​ RMB ​ ​ ​ ​ 01/09/2019 01/09/2029 35.22 ​ 545,383 204,503 01/01/2020 01/01/2030 16.18 ​ 18,000 11,509 01/04/2020 01/04/2030 16.98 ​ 82,500 45,008 01/07/2020 01/07/2030 38.67 ​ 17,250 1,502 01/06/2021 01/06/2031 13.69 ​ 503,076 248,043 01/06/2021 01/06/2031 14.31 ​ 226,000 7,502 01/06/2021 01/06/2031 14.93 ​ 1,279,800 112,500 01/07/2021 01/07/2031 15.16 ​ 252,000 147,751 01/09/2021 01/09/2031 5.53 ​ 7,346,000 4,198,965 01/10/2021 01/10/2031 5.25 ​ 448,000 116,593 01/10/2021 01/10/2031 3.91 ​ 2,820 — 01/10/2021 01/10/2031 4.68 ​ 5,832,000 3,973,655 02/01/2022 ​ 02/01/2032 ​ 2.40 ​ — 126,862 02/01/2022 ​ 02/01/2032 ​ 2.41 ​ — ​ 1,740,001 02/01/2022 ​ 02/01/2032 ​ 3.29 ​ — ​ 567,700 02/01/2022 ​ 02/01/2032 ​ 2.64 ​ — ​ 300,000 02/04/2022 ​ 02/04/2032 ​ 1.78 ​ — ​ 130,000 02/07/2022 ​ 02/07/2032 ​ 2.72 ​ — ​ 40,000 02/10/2022 ​ 02/10/2032 ​ 0.98 ​ — ​ 80,000 16/12/2022 ​ 16/12/2032 ​ 0.81 ​ — ​ 24,180,000 ​ ​ ​ ​ ​ ​ 16,552,829 ​ 36,232,094 ​

Trade and other payables (Table

Trade and other payables (Tables)	12 Months Ended
	Dec. 31, 2022
Trade and other payables.
Schedule of trade and other payables	​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Trade payables (i) ​ ​ Due to related parties ​ 747,449 442,007 Due to third parties ​ 354,279 311,610 ​ ​ 1,101,728 753,617 ​ ​ ​ ​ ​ Redemption liability (ii, iii) ​ 271,525 243,937 Accrued expenses ​ 209,676 516,240 Security deposits ​ 56,236 ​ 160,814 Lease liabilities (Note 17(a)) ​ 154,890 91,583 Amounts payable for purchase of shares held for share incentive scheme (Note 26) ​ 88,280 88,280 Other tax payables ​ 44,716 51,913 Amounts due to related parties ​ 431,351 644,900 Service fees refundable ​ 9,809 — Others ​ 82,722 112,822 ​ ​ 2,450,933 2,664,106 ​ ​ ​ ​ Less: non - current portion ​ Redemption liability ​ (128,081) — Lease liabilities ​ (97,473) (44,553) Amounts payable for purchase of shares held for share incentive scheme (Note 26) ​ (88,280) (88,280) ​ ​ (313,834) ​ (132,833) ​ ​ 2,137,099 2,531,273

Short term borrowings (Tables)

Short term borrowings (Tables)	12 Months Ended
	Dec. 31, 2022
Short-term borrowings.
Schedule of short term borrowings	​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Secured ​ 663,136 — Unsecured ​ 152,124 289,062 ​ ​ 815,260 289,062 ​

Customer deposits (Tables)

Customer deposits (Tables)	12 Months Ended
	Dec. 31, 2022
Customer deposits
Schedule of customer deposits	​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Current and savings accounts ​ 1,350,171 ​ 243,231 Fixed deposit ​ — 1,685,952 ​ ​ 1,350,171 1,929,183 ​

Other financial liabilities f_2

Other financial liabilities from virtual bank (Tables)	12 Months Ended
	Dec. 31, 2022
Other financial liabilities from virtual bank
Schedule of other financial liabilities from virtual bank	​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB ’ 000 ​ RMB ’ 000 ​ ​ ​ ​ ​ Repurchase agreements — 89,327 ​

Derivative financial assets a_2

Derivative financial assets and liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
Financial instruments by category
Schedule of derivative financial assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ ​ 2021 ​ 2022 ​ Nominal ​ Nominal ​ ​ ​ amount ​ Fair value ​ amount ​ Fair value ​ ​ RMB’000 ​ RMB’000 Foreign exchange swaps ​ — ​ — ​ 648,404 ​ 19,279 Currency forwards ​ — ​ — ​ 741,937 ​ 37,084 Derivative financial assets ​ — ​ — ​ 1,390,341 ​ 56,363 ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange swaps ​ 2,186,865 ​ 152,005 ​ 208,938 ​ 9,568 Currency forwards ​ 1,095,958 ​ 38,966 ​ — ​ — Derivative financial liabilities ​ 3,282,823 ​ 190,971 ​ 208,938 ​ 9,568

Deferred income tax (Tables)

Deferred income tax (Tables)	12 Months Ended
	Dec. 31, 2022
Deferred income tax
Schedule of movements of deferred tax assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accelerated ​ ​ ​ ​ ​ ​ amortization ​ ​ ​ ​ ​ ​ ​ ​ of intangible ​ ​ ​ ​ ​ ​ Tax losses ​ assets ​ Others ​ Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ ​ ​ ​ ​ ​ ​ ​ ​ At January 1, 2020 180,142 ​ 218,056 25,588 ​ 423,786 Recognized in the profit or loss 132,766 ​ (6,021) 14,031 ​ 140,776 At December 31, 2020 312,908 ​ 212,035 39,619 ​ 564,562 Recognized in the profit or loss ​ 116,993 ​ (5,513) ​ 7,176 ​ 118,656 At December 31, 2021 ​ 429,901 ​ 206,522 ​ 46,795 ​ 683,218 Recognized in the profit or loss 112,340 (21,274) (8,325) 82,741 At December 31, 2022 ​ 542,241 ​ 185,248 ​ 38,470 ​ 765,959 ​
Schedule of movements of deferred tax liabilities	​ ​ ​ ​ ​ ​ ​ Intangible ​ ​ ​ assets ​ ​ ​ ​ acquired ​ ​ ​ ​ through ​ ​ ​ ​ business ​ ​ ​ ​ combination ​ Total ​ ​ RMB’000 ​ RMB’000 At January 1, 2020 33,291 33,291 Recognized in the profit or loss (13,211) (13,211) At December 31, 2020 20,080 20,080 Recognized in the profit or loss ​ (10,219) ​ (10,219) At December 31, 2021 ​ 9,861 ​ 9,861 Recognized in the profit or loss (4,665) (4,665) At December 31, 2022 ​ 5,196 ​ 5,196 ​

Cash flow information (Tables)

Cash flow information (Tables)	12 Months Ended
	Dec. 31, 2022
Cash flow information
Schedule of cash used in operations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Loss before income tax (1,551,254) (1,442,608) ​ (990,173) Depreciation and amortization 421,228 438,749 ​ 281,430 Net impairment losses on financial and contract assets ​ 134,519 ​ 72,229 ​ 33,639 Net impairment losses on intangible assets ​ — ​ — ​ 10,208 (Gain)/losses on disposal of property and equipment (1,302) 266 ​ 14,490 Expected credit losses on financial guarantee contracts 62,389 — — Share-based payments expenses (Note 26) 89,652 25,409 13,361 Net losses/(gain) on derivatives (Note 8) 281,691 ​ 169,545 ​ (262,769) Net gain on financial assets at fair value through profit or loss (Note 8) (49,447) ​ (45,644) ​ (30,687) Share of losses/(gain) of associates and joint ventures (Note 14) 7,802 ​ (9,946) ​ (24,852) Gain on dilution of investment in associates (Note 14) (2,511) ​ — ​ — Impairment charges on associates ​ — ​ — ​ 10,998 Remeasurement of redemption liability ​ — ​ — ​ (37,874) Finance costs 135,321 ​ 74,743 ​ 35,168 Interest from investing activities ​ (65,858) ​ (22,983) ​ (6,646) Exchange losses/(gain) (Note 8) ​ (285,722) ​ (77,143) ​ 312,843 Changes in working capital: Trade receivables (206,372) (123,371) (63,884) Contract assets (75,778) 45,855 106,135 Prepayments and other receivables 30,933 ​ (353,480) ​ (335,419) Trade and other payable 451,688 ​ 530,095 ​ 106,952 Contract liabilities 38,570 ​ 17,032 ​ 13,365 Customer deposits ​ 405,853 ​ 944,318 ​ 579,012 Other financial liabilities from virtual bank ​ — ​ — ​ 89,327 Financial assets measured at amortized cost from virtual bank ​ (602,291) ​ 586,953 ​ 13,341 Financial assets measured at fair value through other comprehensive income from virtual bank — ​ (1,103,460) ​ (504,942) Payroll and welfare payables ​ 87,198 ​ (110,263) ​ (83,809) ​ (693,691) ​ (383,704) ​ (720,786) ​
Schedule of non-cash investing and financing activities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Acquisition of right‑of‑use properties by leasing (Note 12) 38,646 118,030 76,534 ​
Schedule of gross debt and gross debt reconciliation	​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Restricted cash and time deposits over three months ​ 1,060,427 343,814 Cash and cash equivalents ​ 1,399,370 1,907,776 Financial assets at fair value through profit or loss ​ 2,071,653 690,627 Lease liabilities (Note 17) ​ (154,890) (91,583) —due within one year ​ (57,417) (47,030) —due after one year ​ (97,473) (44,553) Borrowings — repayable within one year ​ (815,260) (289,062) ​ ​ 3,561,300 2,561,572 ​ ​ ​ ​ ​ Cash and liquid investments ​ 4,531,450 2,942,217 Gross debt — fixed interest rates ​ (970,150) (380,645) ​ ​ 3,561,300 2,561,572 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Financial ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ assets at ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ fair value ​ Liabilities from ​ ​ ​ ​ ​ ​ ​ ​ through ​ financing activities ​ ​ ​ Restricted Cash and cash profit or Lease ​ ​ ​ ​ cash (ii) ​ equivalents ​ loss ​ liabilities ​ Borrowings ​ Total ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ RMB’000 As at January 1, 2020 3,440,289 ​ 1,077,875 ​ 1,690,967 ​ (189,689) ​ (3,218,566) ​ 2,800,876 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows (1,064,813) ​ 2,145,418 ​ (252,543) ​ 100,997 ​ 1,062,844 ​ 1,991,903 Acquisition of right-of-use assets ​ - ​ - ​ - ​ (38,646) ​ - ​ (38,646) Other Changes (i) (94,977) ​ (168,099) ​ 49,447 ​ (6,881) ​ (127,585) ​ (348,095) As at December 31, 2020 2,280,499 ​ 3,055,194 ​ 1,487,871 ​ (134,219) ​ (2,283,307) ​ 4,406,038 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows ​ (1,206,607) ​ (1,627,680) ​ 538,138 ​ 96,139 ​ 1,524,899 ​ (675,111) Acquisition of right-of-use assets ​ — ​ — ​ — ​ (118,030) ​ — ​ (118,030) Other Changes (i) ​ (13,465) ​ (28,144) ​ 45,644 ​ 1,220 ​ (56,852) ​ (51,597) As at December 31, 2021 ​ 1,060,427 ​ 1,399,370 ​ 2,071,653 ​ (154,890) ​ (815,260) ​ 3,561,300 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash flows ​ (788,828) ​ 433,119 ​ (1,411,713) ​ 76,734 ​ 543,501 ​ (1,147,187) Acquisition of right-of-use assets ​ — ​ — ​ — ​ (76,534) ​ — ​ (76,534) Other Changes (i) ​ 72,215 ​ 75,287 ​ 30,687 ​ 63,107 ​ (17,303) ​ 223,993 As at December 31, 2022 ​ 343,814 ​ 1,907,776 ​ 690,627 ​ (91,583) ​ (289,062) ​ 2,561,572 (i) Other changes include accrued interests, disposal, foreign currency translation differences and other non-cash movements.

Related party transactions (Tab

Related party transactions (Tables)	12 Months Ended
	Dec. 31, 2022
Related party transactions
Schedule of related parties of the Group that had balances and/or transactions with the Group	The following companies are related parties of the Group that had balances and/or transactions with the Group during the years ended December 31, 2020, 2021 and 2022. ​ ​ ​ ​ ​ Name of related parties Relationship with the Group Sen Rong Limited(i) ​ A shareholder that has significant influence over the Group ​ Rong Chang Limited(i) ​ A shareholder that has significant influence over the Group ​ Bo Yu ​ A shareholder that has significant influence over the Group ​ Ping An Group ​ Ultimate parent company of Bo Yu ​ Subsidiaries of Ping An Group ​ Controlled by Ping An Group ​ Puhui Lixin ​ Significant influenced by the Group ​ Open Portal Guangxi ​ Significant influenced by the Group ​ (i) Sen Rong Limited and Rong Chang Limited has entered into an acting-in-concert agreement in 2020 and an amended and restarted agreement in 2021. As a result, Rong Chang and Sen Rong as a concert group had significant influence over the Group.
Schedule of key management personnel compensations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ ​ 2020 ​ 2021 ​ 2022 ​ RMB’000 RMB’000 RMB’000 ​ ​ ​ ​ ​ ​ ​ Wages and salaries 29,115 28,163 21,123 Welfare and other benefits 1,385 772 614 Share-based payments 3,627 4,187 8,401 ​ 34,127 33,122 31,138 ​
Schedule of significant transactions and year end balances with related parties	​ 35 Related party transactions (Continued) (c) Significant transactions with related parties ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended ​ ​ December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Revenue Ping An Group and its subsidiaries* 1,730,038 ​ 2,315,220 ​ 2,526,682 Puhui Lixin 4,189 ​ — ​ — ​ 1,734,227 ​ 2,315,220 ​ 2,526,682 * The Group also provided lending solution services to third party lenders through contractual arrangements made with another subsidiary of Ping An Group, while the Group directly charged the related service fees to the subsidiary of Ping An Group. The revenue generated from such transactions for the years ended December 31, 2020, 2021 and 2022, was included in the above revenue from Ping An Group and its subsidiaries, amounted to RMB3,230,878, RMBNil and RMB Nil, respectively. Revenue generated by providing implementation and support service jointly with Ping An Technology (Shenzhen) Co., Ltd, a related party, for the years ended December 31, 2020, 2021 and 2022 amounted to RMB6,546,653, RMB8,308,537 and RMBNil, respectively. ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended December 31, ​ ​ 2020 ​ 2021 ​ 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Purchase of services Ping An Group and its subsidiaries 1,285,595 ​ 1,534,302 1,706,436 ​ ​ ​ ​ ​ ​ ​ Net loss on disposal of property and equipment ​ ​ ​ ​ ​ ​ Ping An Group and its subsidiaries ​ — ​ — ​ (599) ​ ​ ​ ​ ​ ​ ​ Net gain from wealth management products consolidated by related parties Ping An Group and its subsidiaries 8,704 26,249 18,890 ​ ​ ​ ​ ​ ​ ​ Net( loss)/gain on derivatives Ping An Group and its subsidiaries (281,691) (169,545) 262,769 ​ ​ ​ ​ Investment income from loan to related party ​ ​ ​ ​ ​ ​ Open Portal Guangxi ​ — ​ — ​ 283 ​ ​ ​ ​ ​ ​ ​ Interest income on bank deposits Ping An Group and its subsidiaries 28,129 12,037 9,234 ​ ​ ​ ​ ​ ​ ​ Leasing payment Ping An Group and its subsidiaries 19,991 19,849 20,957 ​ ​ ​ ​ ​ ​ ​ Interest expenses Ping An Group and its subsidiaries 32,575 15,914 2,672 ​ ​ ​ ​ ​ ​ ​ Net gain on financial assets measured at fair value through other comprehensive income ​ ​ ​ ​ ​ ​ Ping An Group and its subsidiaries — — 315 35 Related party transactions (Continued) ​ (d) Year end balances with related parties ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ 2021 2022 ​ ​ RMB’000 ​ RMB’000 Trade receivables ​ ​ Ping An Group and its subsidiaries (i) ​ 442,694 372,456 ​ ​ ​ ​ ​ Contract assets ​ ​ ​ Ping An Group and its subsidiaries ​ 17,746 9,876 ​ ​ ​ ​ ​ Prepayment and other receivables ​ ​ ​ Ping An Group and its subsidiaries ​ 531,327 771,137 Open Portal Guangxi (i) ​ 3,515 ​ — ​ ​ 534,842 ​ 771,137 ​ ​ ​ ​ ​ Financial assets at fair value through profit or loss (Note 21) ​ Ping An Group and its subsidiaries ​ 599,540 405,960 ​ ​ ​ ​ ​ Cash and restricted cash and time deposits over three months ​ Ping An Group and its subsidiaries ​ 1,131,585 787,916 ​ ​ ​ ​ ​ Trade and other payables ​ Ping An Group and its subsidiaries (i) ​ 1,178,438 1,086,907 Open Portal Guangxi (i) ​ 362 ​ — ​ ​ 1,178,800 ​ 1,086,907 ​ ​ ​ ​ ​ Contract liabilities ​ ​ ​ ​ Ping An Group and its subsidiaries ​ 19,018 ​ 27,517 ​ ​ ​ ​ ​ Short ‑ term borrowings ​ Ping An Group and its subsidiaries ​ 300,805 — ​ ​ ​ ​ ​ Derivative financial assets ​ Ping An Group and its subsidiaries ​ — 56,363 ​ ​ ​ ​ ​ Derivative financial liabilities ​ Ping An Group and its subsidiaries ​ 190,971 9,568 (i) The balances with related parties were unsecured, interest-free and repayable on demand.

The Group's maximum exposure _2

The Group's maximum exposure to unconsolidated structured entities (Tables)	12 Months Ended
	Dec. 31, 2022
The Group's maximum exposure to unconsolidated structured entities
Schedule of size of unconsolidated structured entities and the Group's funding and maximum exposure	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unconsolidated structured entities ​ ​ ​ ​ ​ ​ The Group’s ​ ​ ​ ​ ​ ​ Carrying ​ maximum ​ Interest held 31 December 2021 Size amount exposure by the Group ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ ​ Asset management products managed by the Group 1,329,453 ​ — 　 ​ — ​ Service fee Wealth management products managed by related parties ​ Note a ​ 2,070,977 ​ 2,070,977 ​ Investment income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unconsolidated structured entities ​ ​ ​ ​ ​ ​ The Group's ​ ​ ​ ​ ​ ​ Carrying ​ maximum ​ Interest held 31 December 2022 Size amount exposure by the Group ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 ​ ​ Asset management products managed by the Group 594,058 ​ — 　 ​ — ​ Service fee Wealth management products managed by related parties ​ Note a ​ 690,627 ​ 690,627 ​ Investment income ​ Note a: These asset management products and wealth management products are sponsored by related financial institutions and the information related to size of these structured entities were not publicly available. The carrying amount is recorded in financial assets at fair value through profit or loss. Note b: The wealth management product is sponsored by Guangdong Huaxing Bank and the information related to size of the structured entity was not publicly available. The carrying amount is recorded in financial assets at fair value through profit or loss.

Parent company only condensed_2

Parent company only condensed financial information (Tables)	12 Months Ended
	Dec. 31, 2022
Parent company only condensed financial information
Schedule of condensed financial information of parent company	39 Parent company only condensed financial information (Continued) (a) Condensed Statements of Comprehensive Income ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Selling and marketing expenses ​ (2,374) ​ (439) ​ (387) General and administrative expenses (45,655) ​ (53,621) ​ (104,653) Net impairment losses on amount due from subsidiaries ​ — ​ — ​ (465,457) Other income, gains or loss‑net 7,780 ​ 834 ​ 2,555 Operating loss (40,249) ​ (53,226) ​ (567,942) Finance income/(costs) – net 4,564 ​ (32) ​ (573) Share of losses of joint venture ​ (2,283) ​ (2,896) ​ — Share of losses of subsidiaries and VIEs (1,314,998) ​ (1,225,545) ​ (303,759) Loss before income tax ​ (1,352,966) ​ (1,281,699) ​ (872,274) Income tax expenses ​ (642) ​ — ​ — Loss for the year (1,353,608) ​ (1,281,699) ​ (872,274) Other comprehensive income, net of tax ​ ​ ​ ​ ​ Items that may be subsequently reclassified to profit or loss ​ ​ ​ ​ ​ ​ – Foreign currency translation differences (608,427) ​ (152,542) ​ 69,454 – Changes in the fair value of debt instruments measured at fair value through other comprehensive income ​ (39) ​ (16) ​ 5,324 Items that will not be subsequently reclassified to profit or loss ​ ​ ​ ​ ​ ​ – Foreign currency translation differences — ​ — ​ 356,691 – ​ — ​ (1,796) ​ — Total comprehensive loss (1,962,074) ​ (1,436,053) ​ (440,805) ​ ​ 39 Parent company only condensed financial information(Continued) (b) Condensed Balance Sheets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ ​ ​ 2021 2022 ​ ​ Note ​ RMB’000 ​ RMB’000 ASSETS ​ ​ Non ‑ current assets ​ ​ Interest in subsidiaries 39(d) ​ 1,280,946 ​ 1,764,074 Total non ‑ current assets ​ ​ 1,280,946 ​ 1,764,074 ​ ​ ​ ​ ​ ​ ​ Current assets ​ ​ ​ ​ ​ Amount due from subsidiaries 39(d) ​ 2,662,705 ​ 1,641,677 Prepayments and other receivables ​ ​ 246 ​ 448 Cash and cash equivalents ​ ​ 6,454 ​ 7,327 Total current assets ​ ​ 2,669,405 ​ 1,649,452 Total assets ​ ​ 3,950,351 ​ 3,413,526 ​ ​ ​ ​ ​ ​ ​ EQUITY AND LIABILITIES ​ ​ ​ ​ ​ Equity ​ ​ ​ ​ ​ Share capital 24 ​ 78 ​ 78 Shares held for share incentive scheme 26 ​ (80,102) ​ (149,544) Reserves 25 ​ 10,512,631 ​ 10,953,072 Accumulated loss ​ ​ (6,638,625) ​ (7,510,899) Total equity ​ ​ 3,793,982 ​ 3,292,707 ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ Non ‑ current liabilities ​ ​ ​ ​ ​ Trade and other payables ​ ​ 88,280 ​ 88,280 Total non ‑ current liabilities ​ ​ 88,280 ​ 88,280 ​ ​ ​ ​ ​ ​ ​ Current liabilities ​ ​ ​ ​ Trade and other paybles ​ ​ ​ 68,089 ​ 32,539 Total current liabilities ​ ​ 68,089 32,539 Total liabilities ​ ​ 156,369 120,819 Total equity and liabilities ​ ​ 3,950,351 3,413,526 ​ ​ 39 Parent company only condensed financial information (Continued) (c) Condensed Statements of Cash Flows ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 31, ​ 2020 2021 2022 ​ ​ RMB’000 ​ RMB’000 ​ RMB’000 Cash used in operating activities Cash used in operations (5,230) (51,132) (139,011) Net cash used in operating activities (5,230) (51,132) (139,011) Cash flows from investing activities ​ ​ ​ Payment for interest in subsidiaries, net of cash acquired (3,381,568) (1,333,804) (3,005,546) Proceeds from loan to subsidiaries 85,694 1,350,654 3,218,655 Net cash (used in)/generated from investing activities (3,295,874) 16,850 213,109 ​ ​ ​ ​ ​ ​ ​ Cash flows from financing activities ​ ​ ​ Proceeds from exercise of shares under share incentive scheme ​ — ​ 9,257 ​ 1,161 Proceeds from issuance of ordinary shares 2,722,445 — — Payments for shares repurchase ​ — ​ — ​ (74,992) Share issue transaction costs (24,766) — — Net cash generated from financing activities 2,697,679 9,257 (73,831) Net (decrease)/increase in cash and cash equivalents (603,425) (25,025) 267 Cash and cash equivalents at the beginning of the year 634,507 31,857 6,454 Effects of exchange rate changes on cash and cash equivalents 775 (378) 606 Cash and cash equivalents at the end of year 31,857 6,454 7,327 ​
Schedule of Interest in subsidiaries and amount due from subsidiaries	​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ ​ 2021 ​ 2022 ​ RMB’000 RMB’000 Interest in subsidiaries ​ ​ ​ ​ Equity investment in subsidiaries 1,280,946 1,764,074 ​ ​ ​ ​ ​ ​ ​ ​ As at December 31, ​ ​ 2021 ​ 2022 ​ RMB’000 RMB’000 Amount due from subsidiaries ​ ​ ​ ​ Loan receivables 2,662,705 1,641,677

General information and basis_3

General information and basis of presentation - History and recapitalization of the Group (Details)	Dec. 31, 2022	Dec. 12, 2022	Dec. 11, 2022
General information and basis of presentation
ADSs ratio	30	30	3

General information and basis_4

General information and basis of presentation - Other changes of the Company's shareholders subsequent to the Recapitalization and Initial Public Offering (Details)	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 SGD ($)	Dec. 31, 2022 IDR (Rp)	Dec. 31, 2022 HKD ($)
General information, recapitalization and basis of presentation.
Issued and paid-in capital	¥ 78,000	¥ 78,000
Renewal term of exclusive equity purchase option agreement	5 years
Expiration term of exclusive equity purchase option agreement	30 days
Jin Tai Yuan Limited
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	100%	100%
Issued and paid-in capital | $			$ 747,940,498
Jin Cheng Long Limited
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	100%	100%
Issued and paid-in capital | $			747,940,498
OneConnect Financial Technology (HongKong) Limited
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	100%	100%
Issued and paid-in capital | $			1
OneConnect Financial Technology (Singapore) Co., Pte. Ltd.
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	100%	100%
Issued and paid-in capital | $				$ 47,900,000
PT OneConnect Financial Technology Indonesia
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	100%	100%
Issued and paid-in capital | Rp					Rp 10,000,000,000
Ping An OneConnect Bank (Hong Kong) Limited
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	100%	100%
Issued and paid-in capital			38,216,561			$ 1,200,000,000
Shenzhen OneConnect Technology
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	100%	100%
Issued and paid-in capital | $			$ 4,903,181,996
Registered capital	¥ 4,960,000,000
Initial term of exclusive business cooperation agreement	10 years
Beijing Vantage Point Technology Co., Ltd.
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	51.67%	51.67%
Issued and paid-in capital	¥ 13,333,529
Shenzhen OneConnect Information Technology
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	51%	51%
Issued and paid-in capital	¥ 100,000,000
BER Technology
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	80%	80%
Issued and paid-in capital	¥ 22,950,000
Zhang Tong Shun
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	100%	100%
Issued and paid-in capital	¥ 10,000,000
Shenzhen OneConnect | VIEs
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	100%	100%
Issued and paid-in capital	¥ 1,200,000,000
Shenzhen CA
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	98.90%
Shenzhen CA | VIEs
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	98.90%	98.90%
Issued and paid-in capital	¥ 543,500,000
Shanghai OneConnect | Subsidiaries of VIE
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	100%	100%
Issued and paid-in capital	¥ 1,200,000,000
Kechuang | Subsidiaries of VIE
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	100%	100%
Issued and paid-in capital	¥ 4,000,000
Shenzhen OneConnect Chuangpei Technology Co., Ltd. | Subsidiaries of VIE
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	100%	100%
Issued and paid-in capital	¥ 10,000,000
Zhuhai Yirongtong Asset Management Co., Ltd. | Subsidiaries of VIE
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	100%	100%
Issued and paid-in capital	¥ 12,000,000
Ping An OneConnect Cloud Technology Co., Ltd. | Subsidiaries of VIE
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	100%	100%
Issued and paid-in capital	¥ 500,000,000

General information and basis_5

General information and basis of presentation - Schedule of financial statements amounts and balances of the Group's VIEs and subsidiaries of VIEs (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
General information, recapitalization and basis of presentation.
Total current assets	¥ 6,374,276	¥ 6,898,394
Total non-current assets	2,508,106	2,442,213
Total assets	8,882,382	9,340,607	¥ 10,885,258
Total current liabilities	5,446,321	5,162,412
Total non-current liabilities	158,006	343,113
Total liabilities	5,604,327	5,505,525	5,599,975
Total revenue	4,357,462	4,098,037	3,309,113
Net loss	(928,026)	(1,330,513)	(1,414,123)
Net cash (used in)/generated from operating activities	(745,984)	(404,334)	(704,145)
Net cash generated from/(used in) investing activities	1,873,169	388,435	1,315,725
Net cash generated from/(used in) financing activities	(694,066)	(1,611,781)	1,533,838
Net (decrease)/increase in cash and cash equivalents	433,119	(1,627,680)	2,145,418
Cash and cash equivalents at the beginning of the year	1,399,370	3,055,194	1,077,875
Cash and cash equivalents at the end of year	¥ 1,907,776	1,399,370	3,055,194
Shenzhen CA
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	98.90%
VIEs
General information, recapitalization and basis of presentation.
Registered capital, capital reserve and PRC statutory reserves	¥ 1,774,000	1,753,000
Total current assets	3,865,127	3,820,222
Total non-current assets	906,455	996,872
Total assets	4,771,582	4,817,094
Total current liabilities	7,645,984	7,427,980
Total non-current liabilities	27,902	97,509
Total liabilities	7,673,886	7,525,489
Total revenue	4,064,707	3,723,306	3,042,997
Net loss	(195,819)	(708,699)	(989,704)
Net cash (used in)/generated from operating activities	(618,574)	(439,174)	(443,276)
Net cash generated from/(used in) investing activities	918,498	3,633	1,660,300
Net cash generated from/(used in) financing activities	368,778	108,564	(887,374)
Net (decrease)/increase in cash and cash equivalents	668,702	(326,977)	329,650
Cash and cash equivalents at the beginning of the year	237,550	564,527	234,877
Cash and cash equivalents at the end of year	¥ 906,252	¥ 237,550	¥ 564,527
VIEs | Shenzhen CA
General information, recapitalization and basis of presentation.
Proportion of ownership interest in subsidiary	98.90%	98.90%

Summary of significant accoun_4

Summary of significant accounting policies - Segment Reporting and Property and equipment (Details)	12 Months Ended
	Dec. 31, 2022
Office and telecommunication equipment | Bottom of range [Member]
Property and equipment
Expected useful life	3 years
Leasehold improvements
Property and equipment
Expected useful life	5 years

Summary of significant accoun_5

Summary of significant accounting policies - Impairment of non financial assets and Intangible assets (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Intangible assets
Impairment loss		¥ 0
Application And Platform [Member] | Bottom of range [Member]
Intangible assets
Useful life	3 years
Computer software [member] | Bottom of range [Member]
Intangible assets
Useful life	3 years
Computer software [member] | Top of range [Member]
Intangible assets
Useful life	10 years
Licences [member] | Bottom of range [Member]
Intangible assets
Useful life	3 years
Licences [member] | Top of range [Member]
Intangible assets
Useful life	5 years

Summary of significant accoun_6

Summary of significant accounting policies - Derivative financial instruments and Leases (Details)	12 Months Ended
	Dec. 31, 2022 CNY (¥)
Leases
Derivative financial instruments	¥ 0
Bottom of range [Member]
Leases
Typical term of rental contracts (in years)	1 year
Top of range [Member]
Leases
Typical term of rental contracts (in years)	5 years

Summary of significant accoun_7

Summary of significant accounting policies - Revenue recognition (Details)	12 Months Ended
	Dec. 31, 2022
Summary of significant accounting policies
Statement that practical expedient about existence of significant financing component has been used	false
Statement that practical expedient about incremental costs of obtaining contract has been used	true

Critical accounting estimates_2

Critical accounting estimates and judgments (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about intangible assets
Amortization	¥ 162,121,000	¥ 302,774,000	¥ 282,697,000
Preferential income tax rate	15%
Expiration period	10 years
Original cost	¥ 570,436,000	687,194,000	917,063,000
Gross carrying amount
Disclosure of detailed information about intangible assets
Original cost	2,228,669,000	2,193,000,000
Application And Platform [Member]
Disclosure of detailed information about intangible assets
Carrying amount	¥ 191,070,000	257,118,000
Application And Platform [Member] | Bottom of range [Member]
Disclosure of detailed information about intangible assets
Useful life	3 years
Useful life for 2 years | Application And Platform [Member]
Disclosure of detailed information about intangible assets
Amortization	¥ 196,209,000	184,392,000	388,259,000
Useful life	2 years
Useful life for 5 years | Application And Platform [Member]
Disclosure of detailed information about intangible assets
Amortization	¥ 78,484,000	¥ 160,381,000	¥ 155,303,000
Useful life	5 years

Management of financial risk (D

Management of financial risk (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Currency risk | Discount rate
Management of financial risk
Impact on post tax profit due to increase in foreign currency	¥ 1,752	¥ (4,028)	¥ 52,506
Impact on post tax profit due to decrease in foreign currency	(1,752)	4,028	(52,506)
Impact on other components of equity due to increase in foreign currency	230,632	260,467	618,581
Impact on other components of equity due to a decrease in foreign currency	¥ (230,632)	¥ (260,467)	¥ (618,581)
Interest rate risk
Management of financial risk
Percentage of reasonably possible increase in risk assumption	2%	2%
Interest rate risk | HKD
Management of financial risk
Impact on earnings over the next 12 months if interest rates rise by 200 basis points	¥ (9,000)	¥ (20,000)
Impact on economic value if interest rates rise by 200 basis points	(25,000)	(27,000)
Interest rate risk | USD
Management of financial risk
Impact on earnings over the next 12 months if interest rates rise by 200 basis points	9,000
Impact on economic value if interest rates rise by 200 basis points	(1,000)
Interest rate risk | RMB
Management of financial risk
Impact on earnings over the next 12 months if interest rates rise by 200 basis points	¥ 1,000	¥ 4,000

Management of financial risk -

Management of financial risk - Trade receivables and contract assets (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of nature and extent of risks arising from financial instruments
Trade receivables.	¥ 998,036	¥ 934,152
Contract assets.	122,628	228,763
Allowance account for credit losses of financial assets	59,852	82,340
Gross carrying amount | Three-stage approach
Disclosure of nature and extent of risks arising from financial instruments
Trade receivables.		934,152
Contract assets.		311,103
Gross carrying amount of trade receivables and contract assets		1,245,255
Impairment loss allowance | Three-stage approach
Disclosure of nature and extent of risks arising from financial instruments
Trade receivables.		42,978
Contract assets.		82,340
Allowance account for credit losses of financial assets		125,318
Credit risk | Simplified approach
Disclosure of nature and extent of risks arising from financial instruments
Gross carrying amount of trade receivables and contract assets	1,180,516	¥ 1,245,255
Credit risk | Gross carrying amount | Simplified approach
Disclosure of nature and extent of risks arising from financial instruments
Trade receivables.	998,036
Contract assets.	182,480
Gross carrying amount of trade receivables and contract assets	1,180,516
Credit risk | Impairment loss allowance | Simplified approach
Disclosure of nature and extent of risks arising from financial instruments
Allowance account for credit losses of financial assets	116,899
Trade receivable. | Credit risk | Impairment loss allowance | Simplified approach
Disclosure of nature and extent of risks arising from financial instruments
Trade receivables.	57,047
Contract asset | Credit risk | Impairment loss allowance | Simplified approach
Disclosure of nature and extent of risks arising from financial instruments
Contract assets.	¥ 59,852

Management of financial risk _2

Management of financial risk - Impairment loss allowance of trade receivables and contract assets (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2018
Loss allowance
Loss allowance	¥ 59,852	¥ 82,340
Credit risk
Disclosure of nature and extent of risks arising from financial instruments
Expected loss rate	9.90%	10.06%
Credit risk | Related parties
Disclosure of nature and extent of risks arising from financial instruments
Expected loss rate	2.27%	1.55%
Credit risk | Not later than one year [member]
Disclosure of nature and extent of risks arising from financial instruments
Expected loss rate	3.33%	6.31%
Credit risk | Later than one year and not later than two years [member]
Disclosure of nature and extent of risks arising from financial instruments
Expected loss rate	42.80%	33.30%
Credit risk | Later than two years and not later than three years [member]
Disclosure of nature and extent of risks arising from financial instruments
Expected loss rate	68.40%	89.51%
Credit risk | Later than three years [member]
Disclosure of nature and extent of risks arising from financial instruments
Expected loss rate	97.75%	98.86%
Credit risk | Simplified approach
Disclosure of nature and extent of risks arising from financial instruments
Gross carrying amount of trade receivables and contract assets	¥ 1,180,516	¥ 1,245,255
Credit risk | Simplified approach | Related parties
Disclosure of nature and extent of risks arising from financial instruments
Gross carrying amount of trade receivables and contract assets	391,221	456,470
Credit risk | Simplified approach | Not later than one year [member]
Disclosure of nature and extent of risks arising from financial instruments
Gross carrying amount of trade receivables and contract assets	657,723	653,428
Credit risk | Simplified approach | Later than one year and not later than two years [member]
Disclosure of nature and extent of risks arising from financial instruments
Gross carrying amount of trade receivables and contract assets	63,170	81,012
Credit risk | Simplified approach | Later than two years and not later than three years [member]
Disclosure of nature and extent of risks arising from financial instruments
Gross carrying amount of trade receivables and contract assets	26,482	39,758
Credit risk | Simplified approach | Later than three years [member]
Disclosure of nature and extent of risks arising from financial instruments
Gross carrying amount of trade receivables and contract assets	41,920	14,587
Credit risk | Trade receivable and contract asset
Loss allowance
Loss allowance	116,899	125,318	¥ 97,243	¥ 45,944
Credit risk | Trade receivable and contract asset | Related parties
Loss allowance
Loss allowance	8,888	7,091
Credit risk | Trade receivable and contract asset | Not later than one year [member]
Loss allowance
Loss allowance	21,885	41,240
Credit risk | Trade receivable and contract asset | Later than one year and not later than two years [member]
Loss allowance
Loss allowance	27,038	26,980
Credit risk | Trade receivable and contract asset | Later than two years and not later than three years [member]
Loss allowance
Loss allowance	18,113	35,587
Credit risk | Trade receivable and contract asset | Later than three years [member]
Loss allowance
Loss allowance	¥ 40,975	¥ 14,420

Management of financial risk _3

Management of financial risk - Movements in the impairment loss allowance of contract assets of implementation service (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Movements in the impairment loss allowance of contract assets of implementation service
Beginning of the year	¥ (82,340)
End of the year	(59,852)	¥ (82,340)
Credit risk | Trade receivable and contract asset
Movements in the impairment loss allowance of contract assets of implementation service
Beginning of the year	(125,318)	(97,243)
Additions of impairment loss	(18,715)	(71,061)	¥ (118,943)
Recovery of amounts written off previously	(9,980)
Write-off	37,156	42,986	67,644
Exchange difference	(42)
End of the year	¥ (116,899)	¥ (125,318)	¥ (97,243)

Management of financial risk _4

Management of financial risk - Impairment loss allowance of contract assets of transaction based and support service (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of nature and extent of risks arising from financial instruments
Gross carrying amount	¥ 122,628	¥ 228,763
Loss allowance	¥ 59,852	82,340
Gross carrying amount | Three-stage approach
Disclosure of nature and extent of risks arising from financial instruments
Gross carrying amount		311,103
Impairment loss allowance | Three-stage approach
Disclosure of nature and extent of risks arising from financial instruments
Gross carrying amount		82,340
Loss allowance		125,318
Credit risk | Contract assets of transaction based and support service | Three-stage approach
Disclosure of nature and extent of risks arising from financial instruments
Loss allowance		¥ 190	¥ 711

Management of financial risk _5

Management of financial risk - Movements in the impairment loss allowance of contract assets of transaction based and support service (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Management of financial risk
Beginning of the year	¥ (82,340)
End of the year	(59,852)	¥ (82,340)
Loans and advances to customers.
Management of financial risk
Beginning of the year	(1,962)	(712)
Additions of impairment loss	(10,616)	(1,250)	¥ (712)
Write-off	1,050
End of the year	(11,528)	(1,962)	(712)
Credit risk | Contract assets of transaction based and support service | Three-stage approach
Management of financial risk
Beginning of the year	(190)	(711)
Additions of impairment loss		(1,170)	(711)
Recovery of amounts written off previously	¥ 190
Write-off		1,691
End of the year		¥ (190)	¥ (711)

Management of financial risk _6

Management of financial risk - Financial assets measured at amortized cost from banking operations (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of credit risk exposure
Financial assets measured at fair value through other-comprehensive income.	¥ 1,233,431	¥ 482,497
Total financial assets	6,810,333	7,102,545
Loss allowance	59,852	82,340
Financial assets measured at amortized cost, Gross carrying amount	44	13,385
Gross carrying amount	122,628	228,763
Expected credit loss provision		190
Loans and advances to customers.
Disclosure of credit risk exposure
Loss allowance	¥ 11,528	¥ 1,962	¥ 712
Credit risk
Disclosure of credit risk exposure
Expected loss rate	9.90%	10.06%
Credit risk | Loans and advances to customers.
Disclosure of credit risk exposure
Financial assets measured at amortized cost	¥ 44	¥ 13,575
Financial assets measured at fair value through other-comprehensive income.	1,608,402	1,103,460
Gross carrying amount	¥ 1,608,446	1,117,035
Expected credit loss provision		¥ 190
Expected loss rate		1.40%

Management of financial risk _7

Management of financial risk - Financial guarantee contracts (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Management of financial risk
Maximum guarantee exposure	¥ 112,822	¥ 82,722

Management of financial risk _8

Management of financial risk - Liquidity risk (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of maturity analysis for non-derivative financial liabilities
Other financial liabilities from virtual bank	¥ 89,327
Customer deposits	1,929,183	¥ 1,350,171
Maximum guarantee exposure	112,822	82,722
Liquidity risk
Disclosure of maturity analysis for non-derivative financial liabilities
Short-term borrowings	294,461	818,246
Trade and other payables	1,375,958	1,498,755
Including: lease liabilities	97,955	177,196
Other financial liabilities from virtual bank	89,327
Customer deposits	1,929,183	1,350,171
Non-derivative financial liabilities	3,688,929	3,667,172
Gross settled (foreign currency swaps) - (inflow)	(198,722)	(2,147,751)
Gross settled (foreign currency swaps) - outflow	208,290	2,338,722
Derivative financial liabilities	9,568	190,971
Total	3,698,497	3,858,143
Liquidity risk | Not later than one year [member]
Disclosure of maturity analysis for non-derivative financial liabilities
Short-term borrowings	294,461	818,246
Trade and other payables	1,236,571	1,158,593
Including: lease liabilities	50,862	65,094
Other financial liabilities from virtual bank	89,327
Customer deposits	1,929,183	1,350,171
Non-derivative financial liabilities	3,549,542	3,327,010
Gross settled (foreign currency swaps) - (inflow)	(198,722)	(2,147,751)
Gross settled (foreign currency swaps) - outflow	208,290	2,338,722
Derivative financial liabilities	9,568	190,971
Total	3,559,110	3,517,981
Liquidity risk | 1 to 5 years
Disclosure of maturity analysis for non-derivative financial liabilities
Trade and other payables	139,387	340,162
Including: lease liabilities	47,093	112,102
Non-derivative financial liabilities	139,387	340,162
Total	¥ 139,387	¥ 340,162

Management of financial risk _9

Management of financial risk - Fair value measurement (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of fair value measurement of assets
Derivative financial assets, fair value	¥ 56,363
Derivative financial assets	56,363
Derivative financial liabilities	9,568	¥ 190,971
Financial assets at fair value through profit or loss (FVPL)
Disclosure of fair value measurement of assets
Derivative financial assets, fair value	690,627	2,071,653
Financial assets at fair value through other comprehensive income (FVOCI)
Disclosure of fair value measurement of assets
Derivative financial assets, fair value	2,054,541	1,122,998
Level 1 | Financial assets at fair value through other comprehensive income (FVOCI)
Disclosure of fair value measurement of assets
Derivative financial assets, fair value	442,935	16,334
Level 2
Disclosure of fair value measurement of assets
Derivative financial liabilities	9,568	190,971
Level 2 | Financial assets at fair value through profit or loss (FVPL)
Disclosure of fair value measurement of assets
Derivative financial assets, fair value	690,627	2,070,977
Level 3 | Financial assets at fair value through profit or loss (FVPL)
Disclosure of fair value measurement of assets
Derivative financial assets, fair value		676
Level 3 | Financial assets at fair value through other comprehensive income (FVOCI)
Disclosure of fair value measurement of assets
Derivative financial assets, fair value	¥ 1,611,606	¥ 1,106,664

Management of financial risk_10

Management of financial risk - Transfer (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Management of financial risk
Transfer from Level 1 to Level 2, Liabilities	¥ 0	¥ 0

Management of financial risk_11

Management of financial risk - Movements of Level 3 financial instruments (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Movements of Level 3 financial instruments measured at fair value
Beginning of the year	¥ 7,102,545
End of the year	6,810,333	¥ 7,102,545
Level 3
Movements of Level 3 financial instruments measured at fair value
Beginning of the year	1,107,340	5,676	¥ 6,438
Additions	506,620	1,103,460
Losses recognised in other comprehensive income	(1,678)	(1,796)
Losses recognised in other gain	(676)		(762)
End of the year	¥ 1,611,606	¥ 1,107,340	¥ 5,676

Management of financial risk_12

Management of financial risk - Valuation inputs and relationships to fair value for loans and advances to customers (Details) - Loans and advances to customers from virtual bank - Level 3	Dec. 31, 2022	Dec. 31, 2021
Discount rate
Valuation inputs and relationships to fair value liabilities
Range of inputs, minimum	5.66%	5.22%
Range of inputs, maximum	9.30%	10.05%
Prepayment ratio
Valuation inputs and relationships to fair value liabilities
Range of inputs, minimum	0.34%	0.35%
Range of inputs, maximum	0.38%	0.39%

Management of financial risk_13

Management of financial risk - Valuation inputs and relationships to fair value with all other variables held constant (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Discount rate
Valuation inputs and relationships to fair value liabilities
Unobservable inputs, maximum	5%	5%
Unobservable inputs, minimum	5%	5%
Discount rate | Loans and advances to customers from virtual bank
Valuation inputs and relationships to fair value liabilities
Impact on the assets and other comprehensive income, decrease	¥ (5,941)	¥ (4,579)
Impact on the assets and other comprehensive income, increase	¥ 5,975	¥ 4,608
Prepayment ratio
Valuation inputs and relationships to fair value liabilities
Unobservable inputs, maximum	5%	5%
Unobservable inputs, minimum	5%	5%
Prepayment ratio | Loans and advances to customers from virtual bank
Valuation inputs and relationships to fair value liabilities
Impact on the assets and other comprehensive income, decrease	¥ (283)	¥ (195)
Impact on the assets and other comprehensive income, increase	¥ 283	¥ 195

Segment information and reven_3

Segment information and revenue - Segments and Principal activities (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segments and principal activities
Revenue	¥ 4,464,002	¥ 4,132,357	¥ 3,312,290
Cost of revenue	(2,828,986)	(2,695,706)	(2,068,834)
Gross profit	1,635,016	1,436,651	1,243,456
Research and development expenses	(1,417,691)	(1,353,018)	(1,173,290)
Selling and marketing expenses	(411,356)	(588,380)	(629,488)
General and administrative expenses	(824,711)	(841,685)	(834,917)
Net impairment losses on financial and contract assets	(33,639)	(72,229)	(134,519)
Other income, gains or loss-net	70,818	13,921	58,432
Operating loss	(981,563)	(1,404,740)	(1,470,326)
Finance income	14,709	28,823	77,237
Finance costs	(37,173)	(76,637)	(150,363)
Finance costs - net	(22,464)	(47,814)	(73,126)
Share of (losses)/gain of associate and joint venture - net	24,852	9,946	(7,802)
Impairment charges on associates	(10,998)
Loss before income tax	(990,173)	(1,442,608)	(1,551,254)
ASSETS
Segment Assets	7,827,262	8,368,228	10,031,535
Goodwill	289,161	289,161	289,161
Deferred tax assets	765,959	683,218	564,562	¥ 423,786
Total assets	8,882,382	9,340,607	10,885,258
LIABILITIES
Segment Liabilities	5,599,131	5,495,664	5,579,895
Deferred tax liabilities	5,196	9,861	20,080	¥ 33,291
Total liabilities	5,604,327	5,505,525	5,599,975
Other segment information
Depreciation of property and equipment	119,309	135,975	138,531
Amortization of intangible assets	162,121	302,774	282,697
Additions of non-current assets except for goodwill and deferred income tax assets	144,477	246,047	303,826
Virtual Bank Business
Segments and principal activities
Revenue	106,540	34,320	3,177
Cost of revenue	(56,716)	(37,748)	(20,953)
Gross profit	49,824	(3,428)	(17,776)
Research and development expenses	(18,276)	(33,192)	(27,395)
Selling and marketing expenses	(41,408)	(38,042)	(18,622)
General and administrative expenses	(114,546)	(99,796)	(106,291)
Net impairment losses on financial and contract assets	(10,616)	(1,250)	(712)
Other income, gains or loss-net	(544)	91	7,440
Operating loss	(135,566)	(175,617)	(163,356)
Finance costs	(354)	(310)	(546)
Finance costs - net	(354)	(310)	(546)
Loss before income tax	(135,920)	(175,927)	(163,902)
ASSETS
Segment Assets	2,851,885	2,032,344	1,026,918
Total assets	2,851,885	2,032,344	1,026,918
LIABILITIES
Segment Liabilities	2,093,126	1,459,125	511,105
Total liabilities	2,093,126	1,459,125	511,105
Other segment information
Depreciation of property and equipment	13,191	14,195	8,273
Amortization of intangible assets	26,909	20,356	10,720
Additions of non-current assets except for goodwill and deferred income tax assets	45,737	44,107	63,997
Technology Solutions.
Segments and principal activities
Revenue	4,360,546	4,098,734	3,353,903
Cost of revenue	(2,775,354)	(2,658,655)	(2,092,671)
Gross profit	1,585,192	1,440,079	1,261,232
Research and development expenses	(1,399,415)	(1,319,826)	(1,145,895)
Selling and marketing expenses	(369,948)	(550,338)	(610,866)
General and administrative expenses	(710,165)	(741,889)	(728,626)
Net impairment losses on financial and contract assets	(23,023)	(70,979)	(133,807)
Other income, gains or loss-net	71,362	13,830	50,992
Operating loss	(845,997)	(1,229,123)	(1,306,970)
Finance income	14,709	28,823	77,237
Finance costs	(36,819)	(76,327)	(149,817)
Finance costs - net	(22,110)	(47,504)	(72,580)
Share of (losses)/gain of associate and joint venture - net	24,852	9,946	(7,802)
Impairment charges on associates	(10,998)
Loss before income tax	(854,253)	(1,266,681)	(1,387,352)
ASSETS
Segment Assets	6,330,769	7,377,469	9,822,814
Goodwill	289,161	289,161	289,161
Deferred tax assets	765,959	683,218	564,562
Total assets	7,385,889	8,349,848	10,676,537
LIABILITIES
Segment Liabilities	3,521,957	4,097,004	5,129,511
Deferred tax liabilities	5,196	9,861	20,080
Total liabilities	3,527,153	4,106,865	5,149,591
Other segment information
Depreciation of property and equipment	106,118	121,780	130,258
Amortization of intangible assets	135,212	282,418	271,977
Additions of non-current assets except for goodwill and deferred income tax assets	98,740	201,940	239,829
Intersegment eliminations and adjustments
Segments and principal activities
Revenue	(3,084)	(697)	(44,790)
Cost of revenue	3,084	697	44,790
ASSETS
Segment Assets	(1,355,392)	(1,041,585)	(818,197)
Total assets	(1,355,392)	(1,041,585)	(818,197)
LIABILITIES
Segment Liabilities	(15,952)	(60,465)	(60,721)
Total liabilities	¥ (15,952)	¥ (60,465)	¥ (60,721)

Segment information and reven_4

Segment information and revenue - Revenue from contract with customer (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	¥ 4,357,462	¥ 4,098,037	¥ 3,309,113
Implementation
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	861,820	733,648	851,856
Operation support services
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	1,140,727	1,097,719	1,061,445
Business origination services
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	383,723	450,597	605,733
Risk management services
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	414,849	534,071	362,530
Cloud services platform
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	1,315,819	1,050,179	314,338
Post implementation support services
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	50,983	49,447	55,678
Others
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	¥ 189,541	¥ 182,376	¥ 57,533

Segment information and reven_5

Segment information and revenue - Revenue by timing of transfer of services (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	¥ 4,357,462	¥ 4,098,037	¥ 3,309,113
At a point in time
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	1,400,988	1,565,195	1,478,488
Over time
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	2,956,474	2,532,842	1,830,625
Implementation
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	861,820	733,648	851,856
Implementation | At a point in time
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	36,266
Implementation | Over time
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	825,554	733,648	851,856
Operation support services
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	1,140,727	1,097,719	1,061,445
Operation support services | At a point in time
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	376,784	399,523	453,720
Operation support services | Over time
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	763,943	698,196	607,725
Business origination services
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	383,723	450,597	605,733
Business origination services | At a point in time
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	383,723	450,597	605,733
Risk management services
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	414,849	534,071	362,530
Risk management services | At a point in time
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	414,849	534,071	362,530
Cloud services platform
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	1,315,819	1,050,179	314,338
Cloud services platform | Over time
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	1,315,819	1,050,179	314,338
Post implementation support services
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	50,983	49,447	55,678
Post implementation support services | Over time
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	50,983	49,447	55,678
Others
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	189,541	182,376	57,533
Others | At a point in time
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	189,366	181,004	56,505
Others | Over time
Disaggregation of revenue from contracts with customers
Revenue from contracts with customers	¥ 175	¥ 1,372	¥ 1,028

Segment information and reven_6

Segment information and revenue - Major customers fees on lending solution services (Details) - Service fees on lending solution services	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of revenue from contracts with customers
Percentage of entity's revenue	66.89%	67.18%	63.55%
Contributed by Ping An Group
Disaggregation of revenue from contracts with customers
Percentage of entity's revenue	56.60%	56.03%	52.23%
Lufax Holding Ltd ("Lufax" and its subsidiaries)
Disaggregation of revenue from contracts with customers
Percentage of entity's revenue	10.29%	11.15%	11.32%

Segment information and reven_7

Segment information and revenue - Major customers service fees charged on loans facilitated (Details) - Fees generated on loans facilitated	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of revenue from contracts with customers
Percentage of entity's revenue	66.31%	66.42%	62.49%
Ping An Group and its subsidiaries [Member]
Disaggregation of revenue from contracts with customers
Percentage of entity's revenue	56.60%	56.06%	52.13%
Lufax and its subsidiaries
Disaggregation of revenue from contracts with customers
Percentage of entity's revenue	9.71%	10.36%	10.36%

Segment information and reven_8

Segment information and revenue - Interest and commission income (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Virtual Bank Business
Disclosure of offsetting of financial assets [line items]
Interest and commission income	¥ 106,540	¥ 34,320	¥ 3,177

Segment information and reven_9

Segment information and revenue - Contract assets and liabilities (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2022
Contract assets
Contract assets	¥ 311,103			¥ 182,480
Impairment loss allowance	(82,340)			(59,852)
Contract assets, net	228,763			122,628
Less: Non-current contract assets	(868)
Current contract assets, net	227,895			122,628
Contract liabilities
Contract liabilities	173,262			186,627
Less: Non-current contract liabilities	(19,418)			(19,977)
Current contract liabilities	153,844			166,650
Revenue from performance obligations satisfied or partially satisfied in previous years	0	¥ 0	¥ 0
Implementation
Contract assets
Contract assets	271,521			163,769
Impairment loss allowance	(72,266)			(52,385)
Contract liabilities
Current contract liabilities	24,107			42,014
Transaction based and support revenue
Contract assets
Contract assets	39,582			18,711
Impairment loss allowance	(10,074)			(7,467)
Contract liabilities
Current contract liabilities	149,155			144,613
Business origination services
Contract assets
Contract assets	9,976			1,404
Operation support services
Contract assets
Contract assets	17,449			12,085
Impairment loss allowance	(4,771)			(4,779)
Contract liabilities
Current contract liabilities	90,409			87,562
Post implementation support services
Contract assets
Contract assets	12,157			5,222
Impairment loss allowance	(5,303)			(2,688)
Contract liabilities
Current contract liabilities	22,748			21,679
Risk management services
Contract liabilities
Current contract liabilities	21,629			20,997
Others
Contract liabilities
Current contract liabilities	¥ 14,369			¥ 14,375

Segment information and reve_10

Segment information and revenue - Revenue recognized in relation to contract liabilities (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment information and revenue
Revenue recognized that was included in the contract liability balance at the beginning of the year	¥ 153,844	¥ 138,547	¥ 104,960

Segment information and reve_11

Segment information and revenue - Remaining performance obligations of long-term contracts (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of transaction price allocated to remaining performance obligations
Aggregate amount of the transaction price allocated to long???term contracts that are partially or fully unsatisfied at the end of each year	¥ 1,051,690	¥ 610,516	¥ 383,716
Expected to be recognized within one year
Disclosure of transaction price allocated to remaining performance obligations
Aggregate amount of the transaction price allocated to long???term contracts that are partially or fully unsatisfied at the end of each year	670,991	455,294	240,089
Expected to be recognized in one to two years
Disclosure of transaction price allocated to remaining performance obligations
Aggregate amount of the transaction price allocated to long???term contracts that are partially or fully unsatisfied at the end of each year	237,126	89,762	67,464
Expected to be recognized in two to three years
Disclosure of transaction price allocated to remaining performance obligations
Aggregate amount of the transaction price allocated to long???term contracts that are partially or fully unsatisfied at the end of each year	99,208	33,937	48,475
Expected to be recognized beyond three years
Disclosure of transaction price allocated to remaining performance obligations
Aggregate amount of the transaction price allocated to long???term contracts that are partially or fully unsatisfied at the end of each year	¥ 44,365	¥ 31,523	¥ 27,688

Expenses by nature - (Details)

Expenses by nature - (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Expenses by nature
Technology service fees	¥ 2,261,498	¥ 2,021,238	¥ 1,500,711
Employee benefit expenses (Note 7)	1,601,989	1,629,375	1,643,404
Outsourcing labor costs	528,582	437,081	300,323
Business origination fees to channel partners	251,427	276,966	251,988
Purchase costs of products	183,956	176,224	74,248
Amortization of intangible assets (Note 13)	162,121	302,774	282,697
Depreciation of property and equipment	119,309	135,975	138,531
Listing expense	69,857	12,467
Professional service fees	50,596	48,001	67,137
Marketing and advertising fees	50,246	110,775	59,801
Travelling expenses	38,873	76,987	54,587
Auditor's remuneration
-Audit related	16,501	14,657	15,900
-Non-audit	3,150	1,957	3,149
Impairment loss of intangible assets (Note 13)	10,208	5,646	23,259
Others	134,431	228,666	290,794
Total cost of revenue, research and development expenses, selling and marketing expenses, general and administrative expenses	¥ 5,482,744	¥ 5,478,789	¥ 4,706,529

Expenses by nature - Research a

Expenses by nature - Research and development costs (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Research and development costs
Employee benefit expenses	¥ 469,320	¥ 514,456	¥ 610,564
Technology service fees	946,700	859,324	682,222
Amortization of intangible assets	6,282	3,396	3,812
Depreciation of property and equipment	14,168	11,182	9,659
Impairment loss of intangible assets	3,837	3,747	5,597
Others	22,334	23,200	37,438
Amounts incurred	1,462,641	1,415,305	1,349,292
Less: capitalized
Employee benefit expenses	(19,827)	(45,016)	(125,767)
Technology service fees	(25,123)	(17,271)	(50,235)
Capitalized research and development costs	(44,950)	(62,287)	(176,002)
Research and development costs	¥ 1,417,691	¥ 1,353,018	¥ 1,173,290

Employee benefit expenses (Deta

Employee benefit expenses (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Employee benefit expenses
Wages and salaries	¥ 1,235,714	¥ 1,276,205	¥ 1,319,554
Welfare and other benefits	353,099	330,552	248,870
Share-based payments (Note 26)	13,176	22,618	74,980
Employee benefit expenses	¥ 1,601,989	¥ 1,629,375	¥ 1,643,404

Other income, gains or loss -_3

Other income, gains or loss - net (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other income, gains or loss - net
Net foreign exchange gain/(loss)	¥ (312,843)	¥ 77,143	¥ 285,722
Government grants and tax rebates (Note a)	58,013	51,080	63,627
Net gain on financial assets at fair value through profit or loss	30,687	45,644	49,447
Gain on dilution of interest in associate (Note 14)			2,511
Gain/(loss) on disposal of property and equipment and intangible asset	(6,198)	(266)	1,302
Remeasurement of redemption liability (Note b)	37,874
Guarantee (loss)/gain, net		10,757	(69,185)
Net (loss)/gain on derivatives	262,769	(169,545)	(281,691)
Others	516	(892)	6,699
Other income, gains or loss-net	¥ 70,818	¥ 13,921	¥ 58,432

Other income, gains or loss -_4

Other income, gains or loss - net - Government grants and tax rebates (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Income Gains Or Losses [Line items]
Government grants	¥ 27,421	¥ 28,871	¥ 44,202
Tax rebates	30,592	22,209	19,425
Government grants and tax rebates (Note a)	58,013	51,080	63,627
Technology development incentives
Other Income Gains Or Losses [Line items]
Government grants	10,493	14,391	25,425
Epidemic subsidies
Other Income Gains Or Losses [Line items]
Government grants			4,000
Operation subsidies
Other Income Gains Or Losses [Line items]
Government grants	¥ 16,928	¥ 14,480	¥ 14,777

Other income, gains or loss -_5

Other income, gains or loss - net - Remeasurement of redemption liability (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 30, 2022
Other Income Gains Or Losses [Line items]
Guarantee loss, net	¥ 10,757,000	¥ (69,185,000)
Share purchase agreement
Other Income Gains Or Losses [Line items]
Equity interest acquired (as a percent)			20%
BER Technology | Share purchase agreement
Other Income Gains Or Losses [Line items]
Contractual consideration			¥ 15,000,000

Finance costs - net (Details)

Finance costs - net (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finance income
Interest income on bank deposits	¥ 14,709	¥ 28,823	¥ 77,237
Finance costs
Interest expense on borrowings	(17,303)	(56,534)	(127,585)
Interest expense on lease liabilities	(7,578)	(5,803)	(7,736)
Interest expense on redemption liability	(10,287)	(12,406)	(14,326)
Bank charges	(2,005)	(1,894)	(716)
Total finance costs	(37,173)	(76,637)	(150,363)
Finance costs - net	¥ (22,464)	¥ (47,814)	¥ (73,126)

Income tax benefits (Details)

Income tax benefits (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income tax benefits
Current income tax	¥ (25,259)	¥ (16,780)	¥ (16,856)
Deferred income tax	87,406	128,875	153,987
Income tax benefit	¥ 62,147	¥ 112,095	¥ 137,131

Income tax benefits - Tax on th

Income tax benefits - Tax on the Group's loss before income tax differs from the theoretical amount statutory tax rate applicable to loss of the consolidated entities (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income tax benefits
Statutory income tax rate (as a percent)	25%	25%	25%
Loss before income tax	¥ 990,173	¥ 1,442,608	¥ 1,551,254
Tax calculated at PRC statutory income tax rate of 25%	247,543	360,652	387,814
Differential of income tax rates applicable to subsidiaries	(119,211)	(161,199)	(145,000)
Expense not deductible for tax purposes	(5,659)	(10,169)	(35,455)
Incomes not subject to tax	542	1,732	6,899
Tax losses and temporary differences for which no deferred income tax asset was recognized	(73,690)	(87,237)	(81,698)
Derecognization of deferred tax assets on tax losses		(23)	(3,137)
Additional deductible allowance for research and development expenses	10,164	8,255	6,873
Utilization of previously unrecognized tax losses	2,458	84	835
Income tax benefit	¥ 62,147	¥ 112,095	¥ 137,131

Income tax benefits - Unused Ta

Income tax benefits - Unused Tax Losses (Details) - Unused tax losses [member] - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of temporary difference, unused tax losses and unused tax credits
Unused tax losses for which no deferred tax asset has been recognized	¥ 2,525,806	¥ 1,982,709
Year 2022
Disclosure of temporary difference, unused tax losses and unused tax credits
Unused tax losses for which no deferred tax asset has been recognized	277,048	277,048
Year 2023
Disclosure of temporary difference, unused tax losses and unused tax credits
Unused tax losses for which no deferred tax asset has been recognized	118,796	118,502
Year 2024
Disclosure of temporary difference, unused tax losses and unused tax credits
Unused tax losses for which no deferred tax asset has been recognized	419,866	419,866
Year 2025
Disclosure of temporary difference, unused tax losses and unused tax credits
Unused tax losses for which no deferred tax asset has been recognized	83,576	82,441
Year 2026
Disclosure of temporary difference, unused tax losses and unused tax credits
Unused tax losses for which no deferred tax asset has been recognized	208,346	104,316
Year 2027
Disclosure of temporary difference, unused tax losses and unused tax credits
Unused tax losses for which no deferred tax asset has been recognized	67,745
Year 2028
Disclosure of temporary difference, unused tax losses and unused tax credits
Unused tax losses for which no deferred tax asset has been recognized	1,826	1,826
Year 2029
Disclosure of temporary difference, unused tax losses and unused tax credits
Unused tax losses for which no deferred tax asset has been recognized	7,149	7,149
Year 2030
Disclosure of temporary difference, unused tax losses and unused tax credits
Unused tax losses for which no deferred tax asset has been recognized	8,049	8,051
Year 2031
Disclosure of temporary difference, unused tax losses and unused tax credits
Unused tax losses for which no deferred tax asset has been recognized	56,195	¥ 60,059
Year 2032
Disclosure of temporary difference, unused tax losses and unused tax credits
Unused tax losses for which no deferred tax asset has been recognized	¥ 122,036

Income tax benefits - Additiona

Income tax benefits - Additional information (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes Disclosure
Statutory tax rate (as a percent)	25%	25%	25%
Profits tax	¥ (62,147)	¥ (112,095)	¥ (137,131)
Estimated assessable profit	¥ (990,173)	¥ (1,442,608)	¥ (1,551,254)
PRC
Income Taxes Disclosure
Statutory tax rate (as a percent)	25%
Preferential tax rate	15%
PRC | Bottom of range [Member]
Income Taxes Disclosure
Withholding tax rate	5%
PRC | Top of range [Member]
Income Taxes Disclosure
Withholding tax rate	10%
China (Guangdong) pilot free Trade Zone Qianhai & Shekou area of Shenzhen
Income Taxes Disclosure
Reduced income tax rate	15%
Hongkong
Income Taxes Disclosure
Statutory tax rate (as a percent)	16.50%	16.50%	16.50%
Profits tax	¥ 0	¥ 0	¥ 0
Estimated assessable profit	¥ 0	¥ 0	¥ 0
Singapore
Income Taxes Disclosure
Statutory tax rate (as a percent)	17%	17%	17%
Profits tax	¥ 0	¥ 0	¥ 0
Estimated assessable profit	¥ 0	¥ 0	¥ 0
Indonesia
Income Taxes Disclosure
Statutory tax rate (as a percent)	22%	22%	25%
Malaysia
Income Taxes Disclosure
Statutory tax rate (as a percent)	24%	24%	24%
Profits tax	¥ 0	¥ 0	¥ 0
Estimated assessable profit	¥ 0	¥ 0	¥ 0
Philippines
Income Taxes Disclosure
Statutory tax rate (as a percent)	25%	25%	25%
Profits tax	¥ 0	¥ 0	¥ 0
Estimated assessable profit	¥ 0	¥ 0	¥ 0

Loss per share (Details)

Loss per share (Details) ¥ / shares in Units, ¥ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥) ¥ / shares shares	Dec. 31, 2021 CNY (¥) ¥ / shares shares	Dec. 31, 2020 CNY (¥) ¥ / shares shares	Dec. 12, 2022	Dec. 11, 2022
Loss per share
Net loss for the year attributable to owners of the Company | ¥	¥ (872,274)	¥ (1,281,699)	¥ (1,353,608)
Weighted average number of ordinary shares in issue | shares	1,094,748,000	1,108,291,000	1,064,710,000
Basic loss per share	¥ (0.80)	¥ (1.16)	¥ (1.27)
Diluted loss per share	(0.80)	(1.16)	(1.27)
Basic loss per ADS	(23.90)	(34.69)	(38.14)
Diluted loss per ADS	¥ (23.90)	¥ (34.69)	¥ (38.14)
ADSs ratio	30			30	3
Stock options
Loss per share
Number of shares issued | shares	1,089,589,125	1,109,938,973	1,104,233,317
Number of ordinary shares outstanding | shares	1,089,589,125	1,109,938,973	1,104,233,317

Property and equipment (Details

Property and equipment (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property and equipment
Beginning of the year	¥ 244,412	¥ 224,284
Additions	98,600	163,583
Disposals, net	(75,711)	(7,008)
Depreciation charge	(119,309)	(135,975)	¥ (138,531)
Exchange difference	3,409	(472)
End of the year	151,401	244,412	224,284
Gross carrying amount
Property and equipment
Beginning of the year	697,036	559,520
End of the year	593,936	697,036	559,520
Accumulated depreciation and amortisation [member]
Property and equipment
Beginning of the year	(446,994)	(330,077)
End of the year	(440,314)	(446,994)	(330,077)
Exchange Difference [Member]
Property and equipment
Beginning of the year	5,630	5,159
End of the year	2,221	5,630	5,159
Office and telecommunication equipment
Property and equipment
Beginning of the year	58,448	51,039
Additions	15,481	30,484
Disposals, net	(9,467)	(1,285)
Depreciation charge	(23,027)	(21,682)
Exchange difference	420	(108)
End of the year	41,855	58,448	51,039
Office and telecommunication equipment | Gross carrying amount
Property and equipment
Beginning of the year	126,626	103,462
End of the year	120,373	126,626	103,462
Office and telecommunication equipment | Accumulated depreciation and amortisation [member]
Property and equipment
Beginning of the year	(65,102)	(49,454)
End of the year	(75,862)	(65,102)	(49,454)
Office and telecommunication equipment | Exchange Difference [Member]
Property and equipment
Beginning of the year	3,076	2,969
End of the year	2,656	3,076	2,969
Right-of-use properties
Property and equipment
Beginning of the year	144,001	120,941
Additions	76,534	118,030
Disposals, net	(57,952)	(5,723)
Depreciation charge	(75,519)	(88,974)
Exchange difference	2,510	(273)
End of the year	89,574	144,001	120,941
Right-of-use properties | Gross carrying amount
Property and equipment
Beginning of the year	461,605	362,322
End of the year	358,173	461,605	362,322
Right-of-use properties | Accumulated depreciation and amortisation [member]
Property and equipment
Beginning of the year	(316,267)	(240,317)
End of the year	(269,772)	(316,267)	(240,317)
Right-of-use properties | Exchange Difference [Member]
Property and equipment
Beginning of the year	1,337	1,064
End of the year	(1,173)	1,337	1,064
Leasehold improvements
Property and equipment
Beginning of the year	41,963	52,304
Additions	6,585	15,069
Disposals, net	(8,292)
Depreciation charge	(20,763)	(25,319)
Exchange difference	479	(91)
End of the year	19,972	41,963	52,304
Leasehold improvements | Gross carrying amount
Property and equipment
Beginning of the year	108,805	93,736
End of the year	115,390	108,805	93,736
Leasehold improvements | Accumulated depreciation and amortisation [member]
Property and equipment
Beginning of the year	(65,625)	(40,306)
End of the year	(94,680)	(65,625)	(40,306)
Leasehold improvements | Exchange Difference [Member]
Property and equipment
Beginning of the year	1,217	1,126
End of the year	¥ 738	¥ 1,217	¥ 1,126

Property and equipment - Deprec

Property and equipment - Depreciation charge (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property and equipment
Depreciation charge	¥ 119,309	¥ 135,975	¥ 138,531
Cost of sales [Member]
Property and equipment
Depreciation charge	2,750	3,633
Research and development expenses
Property and equipment
Depreciation charge	14,168	11,182
Selling and marketing expenses [Member]
Property and equipment
Depreciation charge	4,814	4,525
Ifrs General And Administrative Expense [Member]
Property and equipment
Depreciation charge	¥ 97,577	¥ 116,635

Intangible assets (Details)

Intangible assets (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Intangible assets
Beginning of the year	¥ 687,194	¥ 917,063
Additions	45,877	82,463
Disposal, net		(1,103)
Write-off	(10,208)	(5,646)	¥ (23,259)
Amortization	(162,121)	(302,774)	(282,697)
Exchange differences	9,694	(2,809)
End of the year	570,436	687,194	917,063
Cost
Intangible assets
Beginning of the year	2,193,000
End of the year	2,228,669	2,193,000
Accumulated depreciation
Intangible assets
Beginning of the year	(1,501,503)
End of the year	(1,663,624)	(1,501,503)
Exchange difference
Intangible assets
Beginning of the year	(4,303)
End of the year	5,391	(4,303)
Application and platform | Contributed by Ping An Group | Cost
Intangible assets
Beginning of the year	690,910
End of the year	690,910	690,910
Application and platform | Contributed by Ping An Group | Accumulated depreciation
Intangible assets
Beginning of the year	(690,910)
End of the year	(690,910)	(690,910)
Application and platform, Developed internally
Intangible assets
Beginning of the year	226,943	287,674
Write-off	(6,371)	(1,899)
Transfer	58,528	133,548
Amortization	(110,801)	(190,503)
Exchange differences	7,907	(1,877)
End of the year	176,206	226,943	287,674
Application and platform, Developed internally | Cost
Intangible assets
Beginning of the year	721,175
End of the year	773,332	721,175
Application and platform, Developed internally | Accumulated depreciation
Intangible assets
Beginning of the year	(491,264)
End of the year	(602,065)	(491,264)
Application and platform, Developed internally | Exchange difference
Intangible assets
Beginning of the year	(2,968)
End of the year	4,939	(2,968)
Application and platform, Acquired
Intangible assets
Beginning of the year	2,231	29,709
Additions		570
Amortization	(2,231)	(28,048)
End of the year		2,231	29,709
Application and platform, Acquired | Cost
Intangible assets
Beginning of the year	61,078
End of the year	61,078	61,078
Application and platform, Acquired | Accumulated depreciation
Intangible assets
Beginning of the year	(58,847)
End of the year	(61,078)	(58,847)
Purchased software
Intangible assets
Beginning of the year	27,041	44,758
Additions	927	19,606
Disposal, net		(1,103)
Amortization	(15,729)	(36,013)
Exchange differences	582	(207)
End of the year	12,821	27,041	44,758
Purchased software | Cost
Intangible assets
Beginning of the year	148,807
End of the year	149,734	148,807
Purchased software | Accumulated depreciation
Intangible assets
Beginning of the year	(121,156)
End of the year	(136,885)	(121,156)
Purchased software | Exchange difference
Intangible assets
Beginning of the year	(610)
End of the year	(28)	(610)
Development cost in progress
Intangible assets
Beginning of the year	45,389	121,122
Additions	44,950	62,287
Write-off	(3,837)	(3,747)
Transfer	(58,528)	(133,548)
Exchange differences	1,205	(725)
End of the year	29,179	45,389	121,122
Development cost in progress | Cost
Intangible assets
Beginning of the year	46,114
End of the year	28,699	46,114
Development cost in progress | Exchange difference
Intangible assets
Beginning of the year	(725)
End of the year	480	(725)
Goodwill
Intangible assets
Beginning of the year	289,161	289,161
End of the year	289,161	289,161	289,161
Goodwill | Cost
Intangible assets
Beginning of the year	289,161
End of the year	289,161	289,161
Business licenses
Intangible assets
Beginning of the year	92,341	124,145
Amortization	(31,315)	(31,804)
End of the year	61,026	92,341	124,145
Business licenses | Cost
Intangible assets
Beginning of the year	155,492
End of the year	155,492	155,492
Business licenses | Accumulated depreciation
Intangible assets
Beginning of the year	(63,151)
End of the year	(94,466)	(63,151)
Others
Intangible assets
Beginning of the year	4,088	20,494
Amortization	(2,045)	(16,406)
End of the year	2,043	4,088	¥ 20,494
Others | Cost
Intangible assets
Beginning of the year	80,263
End of the year	80,263	80,263
Others | Accumulated depreciation
Intangible assets
Beginning of the year	(76,175)
End of the year	¥ (78,220)	¥ (76,175)

Intangible assets - Amortizatio

Intangible assets - Amortization (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Intangible assets
Amortization of intangible assets	¥ 162,121,000	¥ 302,774,000	¥ 282,697,000
Impairment charge on intangible assets	10,208,000
Cost of revenue
Intangible assets
Amortization of intangible assets	146,466,000	297,406,000	275,479,000
Impairment charge on intangible assets	6,371,000
Research and development expenses
Intangible assets
Amortization of intangible assets	6,282,000	3,396,000	3,812,000
Impairment charge on intangible assets	3,837,000
General and administrative expenses
Intangible assets
Amortization of intangible assets	¥ 9,373,000	¥ 1,972,000	¥ 3,406,000

Intangible assets - Key assumpt

Intangible assets - Key assumptions used to calculate value of goodwill (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Intangible assets
Long term growth rate	2%	2%
Pre-tax discount rate	17.50%	16.30%
CGU Technology Solution
Intangible assets
Recoverable amount of the CGU exceeding its carrying amount	¥ 781,499	¥ 3,191,952
Minimum
Intangible assets
Revenue growth rate	(15.00%)	10%
Profit Margin	10%	15%
Maximum
Intangible assets
Revenue growth rate	13%	24%
Profit Margin	15%	24%

Intangible assets - Possible ch

Intangible assets - Possible changes of key assumptions (Details) - CGU Technology Solution - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Intangible assets
Revenue growth rate decrease	5%	5%
Profit margin decrease	1%
Long term growth rate decrease	1%	1%
Pre-tax discount rate increase	1%	1%
Recoverable amount of the CGU exceeding its carrying amount Recoverable amount of the CGU exceeding its carrying amount	¥ 781,499	¥ 3,191,952
Revenue growth rate
Intangible assets
Recoverable amount of the CGU exceeding its carrying amount Recoverable amount of the CGU exceeding its carrying amount	373,790	1,325,839
Profit Margin
Intangible assets
Recoverable amount of the CGU exceeding its carrying amount Recoverable amount of the CGU exceeding its carrying amount	459,556	2,532,835
Long term growth rate.
Intangible assets
Recoverable amount of the CGU exceeding its carrying amount Recoverable amount of the CGU exceeding its carrying amount	669,058	2,741,710
Pre-tax discount rate
Intangible assets
Recoverable amount of the CGU exceeding its carrying amount Recoverable amount of the CGU exceeding its carrying amount	¥ 616,950	¥ 2,594,933

Investments accounted for usi_3

Investments accounted for using the equity method (Details)									1 Months Ended		12 Months Ended
	Nov. 24, 2022 CNY (¥)	Jul. 10, 2020 CNY (¥)	Mar. 31, 2020	Feb. 20, 2020 CNY (¥)	Aug. 23, 2019 CNY (¥)	Aug. 23, 2019 JPY (¥)	Jan. 31, 2019	Mar. 28, 2017 CNY (¥)	Mar. 31, 2020 CNY (¥)	Jan. 31, 2019 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Investment in associate
At beginning of year											¥ 184,907,000	¥ 172,757,000	¥ 115,124,000
Additions													60,000,000
Share of (losses)/gain of associate											25,291,000	12,150,000	(4,878,000)
Gain on dilution of interest in associate													2,511,000
Investment in associate, gross											210,198,000	184,907,000	172,757,000
Less: impairment loss allowance											(10,998,000)
At end of year											199,200,000	184,907,000	172,757,000
Investing a capital amount													62,040,000
Percentage of equiyt interest			40%	31.82%			35%
Investment in joint venture
At beginning of year											439,000	2,976,000	3,705,000
Additions													2,040,000
Share of losses of joint venture											(439,000)	(2,204,000)	(2,924,000)
Exchange difference												(333,000)	155,000
At end of year												¥ 439,000	¥ 2,976,000
Equity Transfer Agreement
Investment in associate
Less: impairment loss allowance											¥ (10,998,000)
Percentage of equiyt interest	40%
Receivable consideration from sale of investment	¥ 199,200,000
Puhui Lixin
Investment in associate
Additions									¥ 60,000,000	¥ 100,000,000
Gain on dilution of interest in associate				¥ 2,511,000
Investing a capital amount								¥ 40,000,000
Pingan Puhui / Puhui Lixin
Investment in associate
Additions				¥ 40,000,000
SBI Japan
Investment in joint venture
Capital invested					¥ 4,321,000	¥ 65,100,000
Percentage of equity interest					31%	31%
Open Portal Guangxi
Investment in associate
Additions		¥ 2,040,000
Investment in joint venture
Percentage of equity interest											51%
Digital Guagnxi / Open Portal Guangxi
Investment in joint venture
Percentage of equity interest											49%

Investments accounted for usi_4

Investments accounted for using the equity method - Summarised financial information for associate (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Summarised balance sheet
Total assets	¥ 8,882,382	¥ 9,340,607	¥ 10,885,258
Liabilities	(5,604,327)	(5,505,525)	(5,599,975)
Summarised income statement
Operating income	(981,563)	(1,404,740)	(1,470,326)
Share capital investment	210,198	184,907	172,757
Associate
Summarised balance sheet
Total assets	1,686,575	1,075,852	423,148
Liabilities	(1,230,475)	(682,979)	(60,650)
Net assets	456,100	392,873	362,498
Summarised income statement
Operating income	144,762	96,372	51,690
Profit or loss from continuing operations	¥ 63,228	¥ 30,375	¥ (13,473)
Group's share %	40%	40%	40%
Group's share in net assets	¥ 182,440	¥ 157,149	¥ 144,999
Goodwill	27,758	27,758	27,758
Less: impairment charges on associates	(10,998)
Carrying amount	¥ 199,200	¥ 184,907	¥ 172,757

Financial instruments by cate_3

Financial instruments by category (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about financial instruments
Financial assets	¥ 6,810,333	¥ 7,102,545
Financial liabilities	3,672,469	3,821,152
Liabilities at amortized cost | Trade and other payables (excluding non-financial liability items)
Disclosure of detailed information about financial instruments
Financial liabilities	1,355,329	1,464,750
Liabilities at amortized cost | Borrowings
Disclosure of detailed information about financial instruments
Financial liabilities	289,062	815,260
Liabilities at amortized cost | Customers deposit
Disclosure of detailed information about financial instruments
Financial liabilities	1,929,183	1,350,171
Financial liability held at FVPL | Derivative financials liability
Disclosure of detailed information about financial instruments
Financial liabilities	9,568	190,971
Financial assets at amortized cost | Other financial liabilities from virtual bank
Disclosure of detailed information about financial instruments
Financial liabilities	89,327
Financial assets at amortized cost | Trade receivables.
Disclosure of detailed information about financial instruments
Financial assets	940,989	891,174
Financial assets at amortized cost | Prepayments and other receivables (excluding non-financial asset items)
Disclosure of detailed information about financial instruments
Financial assets	816,179	543,538
Financial assets at amortized cost | Financial asset measured at amortized cost from banking operation
Disclosure of detailed information about financial instruments
Financial assets	44	13,385
Financial assets at amortized cost | Restricted cash [Member]
Disclosure of detailed information about financial instruments
Financial assets	343,814	1,060,427
Financial assets at amortized cost | Cash and cash equivalents [Member]
Disclosure of detailed information about financial instruments
Financial assets	1,907,776	1,399,370
Financial assets at fair value through other comprehensive income (FVOCI)
Disclosure of detailed information about financial instruments
Financial assets	2,054,541	1,122,998
Financial assets held at FVPL
Disclosure of detailed information about financial instruments
Financial assets	690,627	¥ 2,071,653
Derivative financial asset | Financial assets held at FVPL
Disclosure of detailed information about financial instruments
Financial assets	¥ 56,363

Financial assets measured at fa

Financial assets measured at fair value through other comprehensive income (Details) - CNY (¥)	Aug. 04, 2016	Dec. 31, 2022	Dec. 31, 2021
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income
Current financial asset at fair value through other comprehensive income		¥ 2,054,541,000	¥ 1,122,998,000
Less: Non-current financial asset measured at fair value through other comprehensive income		(821,110,000)	(640,501,000)
Financial assets measured at fair value through other-comprehensive income.		1,233,431,000	482,497,000
Exchange Settlement Centre Co., Ltd.
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income
Equity interest acquired (as a percent)	5%
Consideration transferred	¥ 5,000,000
Loans and advances to customers.
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income
Current financial asset at fair value through other comprehensive income		1,608,402,000	1,103,460,000
Equity securities
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income
Current financial asset at fair value through other comprehensive income		3,204,000	3,204,000
Debt securities
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income
Current financial asset at fair value through other comprehensive income		¥ 442,935,000	¥ 16,334,000

Leases (Details)

Leases (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Right-of-use assets
Properties	¥ 89,574,000	¥ 144,001,000
Lease liabilities
Non current	44,553,000	97,473,000
Current	47,030,000	57,417,000
Lease liabilities	91,583,000	154,890,000
Additions to the right-of-use assets during the year	¥ 76,534,000	¥ 118,030,000
Weighted average lessee's incremental borrowing rate	4.79%	4.84%

Leases - statement of profit or

Leases - statement of profit or loss (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases
Depreciation charge of rightofuse assets	¥ 75,519,000	¥ 88,974,000	¥ 97,924,000
Interest expenses (included in finance cost)	7,578,000	5,803,000	7,736,000
Total expenses recognised in statement of profit or loss	83,097,000	94,777,000	105,660,000
Cash outflow for leases	79,618,000	97,551,000	101,807,000
Expense recognized in relation to short term leases	¥ 2,884,000	¥ 1,412,000	¥ 810,000

Trade receivables (Details)

Trade receivables (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Trade receivables
Trade receivables	¥ 940,989	¥ 891,174
Gross carrying amount
Trade receivables
Trade receivables	998,036	934,152
Impairment loss allowance
Trade receivables
Trade receivables	¥ (57,047)	¥ (42,978)

Trade receivables - Additional

Trade receivables - Additional informations (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Trade receivables
Total trade receivables	¥ 998,036	¥ 934,152
Up to 1 year
Trade receivables
Total trade receivables	932,479	897,114
1 to 2 years
Trade receivables
Total trade receivables	42,752	22,920
2 to 3 years
Trade receivables
Total trade receivables	13,857	8,026
Above 3 years
Trade receivables
Total trade receivables	¥ 8,948	¥ 6,092

Prepayments and other receiva_3

Prepayments and other receivables (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Prepayments and other receivables
Deposit receivable	¥ 776,481	¥ 539,625
Value-added-tax deductible	143,338	53,437
Advance to suppliers	71,755	93,230
Advance to staff	47,332	42,343
Receivables for value-added-tax paid on behalf of wealth management products	455	6,881
Others	46,519	20,119
Less: impairment loss allowance	(7,276)	(2,968)	¥ (3,349)	¥ (1,332)
Total	¥ 1,078,604	¥ 752,667

Prepayments and other receiva_4

Prepayments and other receivables - Impairment loss Allowance (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Prepayments and other receivables
Beginning of the year	¥ (2,968)	¥ (3,349)	¥ (1,332)
(Additions)/Reversals	(4,308)	2	(2,569)
Write-off		365	536
Exchange differences		14	16
End of the year	¥ (7,276)	¥ (2,968)	¥ (3,349)

Financial assets measured at _3

Financial assets measured at amortized cost from virtual bank (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Financial assets measured at amortized cost from virtual bank
Loans and advances to customers	¥ 44	¥ 13,575
Less: expected credit loss provision		(190)
Financial assets measured at amortized cost, Gross	44	13,385
Loans and advances to customers		(674)
Financial assets measured at amortized cost, Current	¥ 44	¥ 12,711

Financial assets at fair valu_5

Financial assets at fair value through profit or loss (Details) - CNY (¥)	Dec. 31, 2022	Dec. 31, 2021
Financial assets at fair value through profit or loss
Carrying amount	¥ 690,627,000	¥ 2,071,653,000
Contingent refundable consideration
Financial assets at fair value through profit or loss
Carrying amount		676,000
Wealth management products
Financial assets at fair value through profit or loss
Carrying amount	690,627,000	2,070,977,000
Financial assets at fair value through profit or loss	¥ 690,627,000	¥ 2,070,977,000

Restricted cash and time depo_3

Restricted cash and time deposits over three months (Details)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2021 USD ($)
Restricted cash
Pledged bank deposits	¥ 198,320,000		¥ 1,043,718,000
Accrued interests	1,238,000		6,444,000
Time deposits with initial terms over three months	144,256,000		10,265,000
Restricted cash	¥ 343,814,000		¥ 1,060,427,000
Weighted average
Restricted cash
Interest rate (in percent)	4.61%	4.61%	3.93%	3.93%
Short-term borrowings
Restricted cash
Pledged bank deposits			¥ 670,022,000	$ 105,090,000
Short-term borrowings | Weighted average
Restricted cash
Interest rate (in percent)			0.94%	0.94%
Business guarantee
Restricted cash
Pledged bank deposits	¥ 5,331,000		¥ 4,830,000
Currency forwards and swaps
Restricted cash
Pledged bank deposits	¥ 192,989,000	$ 27,710,000	¥ 368,866,000	$ 57,855,000

Cash and cash equivalents (Deta

Cash and cash equivalents (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash and cash equivalents.
Cash on hand	¥ 12	¥ 12
Cash at central bank	214,768	575,044
Cash at banks	1,692,996	824,314
Cash and cash equivalents, end of the year	¥ 1,907,776	¥ 1,399,370	¥ 3,055,194	¥ 1,077,875

Cash and cash equivalents - Pre

Cash and cash equivalents - Presented in currency (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash and cash equivalents in currencies
Cash and cash equivalents	¥ 1,907,776	¥ 1,399,370	¥ 3,055,194	¥ 1,077,875
USD
Cash and cash equivalents in currencies
Cash and cash equivalents	313,559	72,093
RMB
Cash and cash equivalents in currencies
Cash and cash equivalents	1,045,135	554,781
HKD
Cash and cash equivalents in currencies
Cash and cash equivalents	530,861	763,126
SGD
Cash and cash equivalents in currencies
Cash and cash equivalents	13,821	7,335
IDR
Cash and cash equivalents in currencies
Cash and cash equivalents	1,680	473
MYR
Cash and cash equivalents in currencies
Cash and cash equivalents	1,585	164
PHP
Cash and cash equivalents in currencies
Cash and cash equivalents	¥ 1,135	¥ 1,398

Share capital (Details)

Share capital (Details)				1 Months Ended		12 Months Ended						24 Months Ended
	Aug. 17, 2020 shares	Jan. 14, 2020 shares	Dec. 13, 2019 shares	Apr. 30, 2018 CNY (¥) item	Apr. 30, 2018 USD ($) item $ / shares	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 CNY (¥) shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 CNY (¥) shares	Dec. 31, 2018 USD ($) $ / shares shares	Dec. 31, 2022 CNY (¥) shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 $ / shares	Dec. 31, 2017 $ / shares
Issued
Beginning balance, equity | ¥						¥ 4,520,541,000						¥ 5,285,283,000
Issuance of ordinary shares | ¥						2,697,679,000
Ending balance, equity | ¥						¥ 5,285,283,000		¥ 4,520,541,000				¥ 3,278,055,000
Number of investors | item				12	12
Ordinary shares
Authorized
Ordinary shares par value per share | $ / shares							$ 0.00001		$ 0.00001		$ 0.00001		$ 0.00001	$ 0.00001	$ 0.00001
Authorized shares													5,000,000,000
Authorized share capital | $													$ 50,000
Issued
Issued shares at beginning of period						1,097,320,664	1,097,320,664	999,999,999	999,999,999	900,000,000	900,000,000	1,169,980,661	1,169,980,661
Increase in ordinary shares	62,100,000	10,560,000	93,600,000			72,660,000	72,660,000	3,720,665	3,720,665	99,999,999	99,999,999
Newly issued ordinary shares upon initial public offering								93,600,000	93,600,000
Issued shares at end of period						1,169,980,661	1,169,980,661	1,097,320,664	1,097,320,664	999,999,999	999,999,999	1,169,980,653	1,169,980,653
Surrendered ordinary shares						(3)	(3)					(8)	(8)
Beginning balance, equity						¥ 72,975	$ 10,973	¥ 66,169	$ 10,000	¥ 59,838	$ 9,000	¥ 78,008	$ 11,700
Issuance of ordinary shares						5,033	727	257	37	6,331	1,000
Issuance of ordinary shares upon initial public offering								6,549	936
Ending balance, equity						¥ 78,008	$ 11,700	¥ 72,975	$ 10,973	¥ 66,169	$ 10,000	¥ 78,008	$ 11,700
Total consideration				¥ 4,750,965,000	$ 750,000,000
Price per share (in USD per share) | $ / shares					$ 7.5

Share capital - National Dream

Share capital - National Dream Limited (Details)

1 Months Ended

12 Months Ended

Apr. 02, 2021 shares

Apr. 01, 2021 shares

Dec. 24, 2020 shares

Dec. 11, 2020 shares

Aug. 17, 2020 CNY (¥) shares

Jan. 14, 2020 CNY (¥) shares

Dec. 13, 2019 shares

Nov. 27, 2019 USD ($) shares

Nov. 27, 2019 CNY (¥) shares

Nov. 26, 2019 USD ($) shares

Nov. 26, 2019 CNY (¥) shares

Mar. 11, 2019 USD ($) shares

Mar. 11, 2019 CNY (¥) shares

Apr. 30, 2018 USD ($)

Apr. 30, 2018 CNY (¥)

Dec. 31, 2020 shares

Dec. 31, 2019 shares

Dec. 31, 2018 shares

Dec. 31, 2022 shares

Dec. 31, 2017 shares

Share subscription agreement, September 2019

Disclosure of classes of share capital [line items]

Total consideration

$ 5,284,830

¥ 37,175,000

National Dream Limited

Disclosure of classes of share capital [line items]

Total consideration

$ 13,114,000

¥ 88,030,000

Increase in ordinary shares

1,748,501

1,748,501

Great Lakes Limited

Disclosure of classes of share capital [line items]

Total consideration

$ 9,506,400

¥ 66,877,000

Increase in ordinary shares

1,267,520

1,267,520

Blossom View Limited | Share subscription agreement, September 2019

Disclosure of classes of share capital [line items]

Increase in ordinary shares

563,714

563,714

Gold Planning Limited | Share subscription agreement, September 2019

Disclosure of classes of share capital [line items]

Increase in ordinary shares

140,930

140,930

Ordinary shares

Disclosure of classes of share capital [line items]

Total consideration

$ 750,000,000

¥ 4,750,965,000

Increase in ordinary shares

62,100,000

10,560,000

93,600,000

72,660,000

3,720,665

99,999,999

Underwritten public

1,169,980,661

1,097,320,664

999,999,999

1,169,980,653

900,000,000

Company bought back and cancelled

8

8

3

3

ADSs

Disclosure of classes of share capital [line items]

Increase in ordinary shares

3,520,000

31,200,000

Underwritten public offerings

Disclosure of classes of share capital [line items]

Total consideration | ¥

¥ 2,471,951,645

Underwritten public

18,000,000

Over-allotment options

Disclosure of classes of share capital [line items]

Total consideration | ¥

¥ 225,727,710

Underwritten public

2,700,000

Other reserves (Details)

Other reserves (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of reserves within equity [line items]
Balance at Beginning	¥ 10,512,631	¥ 10,639,931	¥ 8,461,637
Other comprehensive income, net of tax
Foreign currency translation differences	426,145	(152,542)	(608,427)
Fair value changes on financial assets measured at fair value through other comprehensive income	5,324	(1,812)	(39)
Share premium from issuance of ordinary shares			2,697,674
Value of employee services and business cooperation arrangements	13,361	25,409	89,652
Vesting of shares under Restricted Share Unit Scheme	(4,720)	(700)	(566)
Exercise of shares under share option Scheme	331	2,345
Balance at Ending	10,953,072	10,512,631	10,639,931
Recapitalization reserve
Disclosure of reserves within equity [line items]
Balance at Beginning	1,200,000	1,200,000	1,200,000
Other comprehensive income, net of tax
Balance at Ending	1,200,000	1,200,000	1,200,000
Share premium
Disclosure of reserves within equity [line items]
Balance at Beginning	9,627,159	9,627,159	6,929,485
Other comprehensive income, net of tax
Share premium from issuance of ordinary shares			2,697,674
Balance at Ending	9,627,159	9,627,159	9,627,159
Sharebased compensation reserve
Disclosure of reserves within equity [line items]
Balance at Beginning	200,631	173,577	84,491
Other comprehensive income, net of tax
Value of employee services and business cooperation arrangements	13,361	25,409	89,652
Vesting of shares under Restricted Share Unit Scheme	(4,720)	(700)	(566)
Exercise of shares under share option Scheme	331	2,345
Balance at Ending	209,603	200,631	173,577
Foreign currency translation differences
Disclosure of reserves within equity [line items]
Balance at Beginning	(285,674)	(133,132)	475,295
Other comprehensive income, net of tax
Foreign currency translation differences	426,145	(152,542)	(608,427)
Balance at Ending	140,471	(285,674)	(133,132)
Others
Disclosure of reserves within equity [line items]
Balance at Beginning	(229,485)	(227,673)	(227,634)
Other comprehensive income, net of tax
Fair value changes on financial assets measured at fair value through other comprehensive income	5,324	(1,812)	(39)
Balance at Ending	¥ (224,161)	¥ (229,485)	¥ (227,673)

Other reserves - Others (Detail

Other reserves - Others (Details) - CNY (¥)			12 Months Ended
	Aug. 17, 2020	Jan. 14, 2020	Dec. 31, 2020
Disclosure of reserves within equity [line items]
Issuance of ordinary shares			¥ 2,697,679,000
Over-allotment options
Disclosure of reserves within equity [line items]
Total consideration		¥ 225,727,710
Issuance of ordinary shares		728
Share premium		¥ 225,727,000
Underwritten public offerings
Disclosure of reserves within equity [line items]
Total consideration	¥ 2,471,951,645
Issuance of ordinary shares	4,305
Share premium	¥ 2,471,947,000

Share-based payments (Details)

Share-based payments (Details) - CNY (¥)				1 Months Ended	12 Months Ended
	Sep. 10, 2019	Nov. 07, 2017	Jan. 01, 2017	Sep. 30, 2020	Dec. 31, 2022	Dec. 31, 2021
Disclosure of terms and conditions of share-based payment arrangement
Consideration recognized for shares held for share option scheme					¥ 88,280,000	¥ 88,280,000
Period for which the share option plan is effective		10 years
Repurchase of shares, shares					8.02
Repurchase of shares, value					¥ (74,992,000)
Shares recognized
Disclosure of terms and conditions of share-based payment arrangement
Shares held for share option scheme			66,171,600
Consideration recognized for shares held for share option scheme			¥ 88,280,000
Percentage of options vested		100%
Options vesting period		4 years
Shares recognized | Minimum
Disclosure of terms and conditions of share-based payment arrangement
Option exercise period		12 months
Shares recognized | Maximum
Disclosure of terms and conditions of share-based payment arrangement
Option exercise period		8 years
Shares reserved
Disclosure of terms and conditions of share-based payment arrangement
Shares held for share option scheme		66,171,600
Percentage of options vested	100%
Options vesting period	4 years
Xin Ding Heng
Disclosure of terms and conditions of share-based payment arrangement
Shares held for share option scheme			66,171,600	66,171,600

Share-based payments - Share-ba

Share-based payments - Share-based compensation expenses (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based compensation expenses recognized
Share-based compensation expense - Total	¥ 13,361	¥ 25,409	¥ 89,652
Share-based compensation expense - Value of employee's services	13,176	22,618	74,980
Share-based compensation expense - Value of non-employee's services	185	2,791	14,672
Cost of revenue
Share-based compensation expenses recognized
Share-based compensation expense - Total		935	6,904
Research and development expenses
Share-based compensation expenses recognized
Share-based compensation expense - Total		5,185	26,635
Selling and marketing expenses
Share-based compensation expenses recognized
Share-based compensation expense - Total	1,002	2,854	21,049
General and administrative expenses
Share-based compensation expenses recognized
Share-based compensation expense - Total	¥ 12,359	¥ 16,435	¥ 35,064

Share-based payments - Movement

Share-based payments - Movements of share options (Details) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022 EquityInstruments CNY (¥) ¥ / shares	Dec. 31, 2021 EquityInstruments CNY (¥) ¥ / shares	Dec. 31, 2020 EquityInstruments
Disclosure of terms and conditions of share-based payment arrangement
At the beginning of the year | ¥	12,725,995
At the end of the year | ¥	10,137,344	12,725,995
Disclosure of number and weighted average remaining contractual life of outstanding share options
Weighted-average exercise price | ¥ / shares	¥ 21	¥ 24.85
Weighted-average remaining contractual life	3 years 3 months 10 days	4 years 4 months 9 days
Stock options
Disclosure of terms and conditions of share-based payment arrangement
At the beginning of the year	12,725,995	19,459,994	24,470,325
Exercised	(621,930)	(5,181,306)
Forfeited	(1,966,721)	(1,552,693)	(5,010,331)
At the end of the year	10,137,344	12,725,995	19,459,994

Share-based payments - Share op

Share-based payments - Share options outstanding (Details)	12 Months Ended
	Dec. 31, 2022 CNY (¥) ¥ / shares	Dec. 31, 2021 CNY (¥)
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Number of share options	10,137,344,000	12,725,995,000
RMB1.33
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price | ¥ / shares	¥ 1.33
Fair value of options	¥ 0.62
Number of share options	977,951,000	1,109,682,000
RMB2.00
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price | ¥ / shares	¥ 2
Fair value of options	¥ 0.52
Number of share options	5,295,021,000	5,785,221,000
RMB 52.00, granted In 2018
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price | ¥ / shares	¥ 52
Fair value of options	¥ 26
Number of share options	3,044,462,000	4,704,219,000
RMB 52.00, granted In 2019
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price | ¥ / shares	¥ 52
Fair value of options	¥ 23.42
Number of share options	819,910,000	1,126,873,000

Share-based payments - Key assu

Share-based payments - Key assumptions of the share option (Details) - Binomial option pricing model	Jun. 01, 2019	Nov. 08, 2018	Nov. 07, 2017
Disclosure of terms and conditions of share-based payment arrangement
Discount rate	17%	17%	24%
Risk-free interest rate	3%	4%	4%
Volatility	46%	51%	52%
Dividend yield	0%	0%	0%

Share-based payments - Restrict

Share-based payments - Restricted Share Units (Details) - Restricted Share Units Scheme	Sep. 10, 2019
Disclosure of terms and conditions of share-based payment arrangement
Percentage of options vested	100%
Options vesting period	4 years

Share-based payments - Moveme_2

Share-based payments - Movements of Restricted Share Units (Details) - Restricted Share Units Scheme - EquityInstruments	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of terms and conditions of share-based payment arrangement
At the beginning of the year	16,552,829	1,751,702	2,306,000
Granted	28,745,900	17,033,120	470,000
Vested	(3,538,551)	(524,358)	(424,256)
Forfeited	(5,528,084)	(1,707,635)	(600,042)
At the end of the year	36,232,094	16,552,829	1,751,702

Share-based payments - Fair val

Share-based payments - Fair value of the restricted share units (Details) - Restricted Share Units Scheme	Dec. 31, 2022 CNY (¥) EquityInstruments	Dec. 31, 2021 EquityInstruments	Dec. 31, 2020 EquityInstruments	Dec. 31, 2019 EquityInstruments
Disclosure of terms and conditions of share-based payment arrangement
Number of restricted share units	36,232,094	16,552,829	1,751,702	2,306,000
September 2019
Disclosure of terms and conditions of share-based payment arrangement
Fair value of restricted share units | ¥	¥ 35.22
Number of restricted share units	204,503	545,383
January 2020
Disclosure of terms and conditions of share-based payment arrangement
Fair value of restricted share units | ¥	¥ 16.18
Number of restricted share units	11,509	18,000
April 2020
Disclosure of terms and conditions of share-based payment arrangement
Fair value of restricted share units | ¥	¥ 16.98
Number of restricted share units	45,008	82,500
July 2020
Disclosure of terms and conditions of share-based payment arrangement
Fair value of restricted share units | ¥	¥ 38.67
Number of restricted share units	1,502	17,250
June 2021, One
Disclosure of terms and conditions of share-based payment arrangement
Fair value of restricted share units | ¥	¥ 13.69
Number of restricted share units	248,043	503,076
June 2021, Two
Disclosure of terms and conditions of share-based payment arrangement
Fair value of restricted share units | ¥	¥ 14.31
Number of restricted share units	7,502	226,000
June 2021, Three
Disclosure of terms and conditions of share-based payment arrangement
Fair value of restricted share units | ¥	¥ 14.93
Number of restricted share units	112,500	1,279,800
July 2021
Disclosure of terms and conditions of share-based payment arrangement
Fair value of restricted share units | ¥	¥ 15.16
Number of restricted share units	147,751	252,000
September 2021
Disclosure of terms and conditions of share-based payment arrangement
Fair value of restricted share units | ¥	¥ 5.53
Number of restricted share units	4,198,965	7,346,000
October 2021, One
Disclosure of terms and conditions of share-based payment arrangement
Fair value of restricted share units | ¥	¥ 5.25
Number of restricted share units	116,593	448,000
October 2021, Two
Disclosure of terms and conditions of share-based payment arrangement
Fair value of restricted share units | ¥	¥ 3.91
Number of restricted share units		2,820
October 2021, Three
Disclosure of terms and conditions of share-based payment arrangement
Fair value of restricted share units | ¥	¥ 4.68
Number of restricted share units	3,973,655	5,832,000
January 2022, One
Disclosure of terms and conditions of share-based payment arrangement
Fair value of restricted share units | ¥	¥ 2.40
Number of restricted share units	126,862
January 2022, Two
Disclosure of terms and conditions of share-based payment arrangement
Fair value of restricted share units | ¥	¥ 2.41
Number of restricted share units	1,740,001
January 2022, Three
Disclosure of terms and conditions of share-based payment arrangement
Fair value of restricted share units | ¥	¥ 3.29
Number of restricted share units	567,700
January 2022, Four
Disclosure of terms and conditions of share-based payment arrangement
Fair value of restricted share units | ¥	¥ 2.64
Number of restricted share units	300,000
April 2022
Disclosure of terms and conditions of share-based payment arrangement
Fair value of restricted share units | ¥	¥ 1.78
Number of restricted share units	130,000
July 2022
Disclosure of terms and conditions of share-based payment arrangement
Fair value of restricted share units | ¥	¥ 2.72
Number of restricted share units	40,000
October 2022
Disclosure of terms and conditions of share-based payment arrangement
Fair value of restricted share units | ¥	¥ 0.98
Number of restricted share units	80,000
December 2022
Disclosure of terms and conditions of share-based payment arrangement
Fair value of restricted share units | ¥	¥ 0.81
Number of restricted share units	24,180,000

Share-based payments - Key as_2

Share-based payments - Key assumptions of restricted stock units (Details) - Restricted Share Units Scheme - Monte carlo method	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of terms and conditions of share-based payment arrangement
Discount rate	15%	15%	15%
Dividend yield	0%	0%	0%
Minimum
Disclosure of terms and conditions of share-based payment arrangement
Risk-free interest rate	2%	2%	2%
Volatility	43%	43%	43%
Maximum
Disclosure of terms and conditions of share-based payment arrangement
Risk-free interest rate	3%	3%	3%
Volatility	49%	49%	49%

Trade and other payables (Detai

Trade and other payables (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2022
Trade and other payables.
Trade payables	¥ 1,101,728			¥ 753,617
Due to related parties	747,449			442,007
Due to third parties	354,279			311,610
Redemption liability (Note 35)	271,525			243,937
Accrued expenses	209,676			516,240
Security deposits	56,236			160,814
Lease liabilities (Note 17(a))	154,890			91,583
Amounts payable for purchase of shares held for share option scheme (Note 26)	88,280			88,280
Other tax payables	44,716			51,913
Amounts due to related parties	431,351			644,900
Service fees refundable	9,809
Financial guarantee payables (Note a)	82,722			112,822
Total trade and other payables	2,450,933			2,664,106
Redemption liability (Note 35)	(128,081)
Lease liabilities	(97,473)			(44,553)
Amounts payable for purchase of shares held for share option scheme (Note 26)	(88,280)			(88,280)
Total trade and other non-current payables	(313,834)			(132,833)
Trade and other payables	¥ 2,137,099			¥ 2,531,273
Aging Of Trade Payables	1 year	1 year	1 year

Trade and other payables - Narr

Trade and other payables - Narrative (Details) - BER Technology - CNY (¥)		6 Months Ended	12 Months Ended
	Dec. 30, 2022	Dec. 31, 2022	Dec. 31, 2022
Trade and other payables
Remaining equity interest (as a percent)	20%	20%
Initial redemption liability		¥ 44,105,000	¥ 44,105,000
Remeasurement amount of redemption liability		15,000,000	¥ 15,000,000
Put option
Trade and other payables
Remaining equity interest (as a percent)			48.33%
Initial redemption liability		183,569,000	¥ 183,569,000
Remeasurement amount of redemption liability		¥ 228,937,000	¥ 228,937,000

Short term borrowings (Details)

Short term borrowings (Details) - CNY (¥)	Dec. 31, 2022	Dec. 31, 2021
Short term borrowings
Short-term borrowings	¥ 289,062,000	¥ 815,260,000
Restricted cash	¥ 198,320,000	¥ 1,043,718,000
Weighted average
Short term borrowings
Interest rate (in percent)	4.61%	3.93%
Secured
Short term borrowings
Short-term borrowings		¥ 663,136,000
Secured | Beijing Haidian
Short term borrowings
Short-term borrowings	¥ 9,014,000
Secured | Shenzhen HTI Financing Guarantee Co., Ltd
Short term borrowings
Short-term borrowings	53,722,000
Unsecured
Short term borrowings
Short-term borrowings	289,062,000	¥ 152,124,000
Borrowings secured by restricted cash
Short term borrowings
Short-term borrowings	597,400,000
Restricted cash	670,022,000
Borrowings guaranteed by the accounts receivable | BER Technology
Short term borrowings
Short-term borrowings	¥ 3,000,000

Customer deposits (Details)

Customer deposits (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Customer deposits
Current and savings accounts	¥ 243,231	¥ 1,350,171
Fixed deposit	1,685,952
Customer deposits	¥ 1,929,183	¥ 1,350,171

Other financial liabilities f_3

Other financial liabilities from virtual bank (Details) - Dec. 31, 2022	CNY (¥)	HKD ($)
Other financial liabilities from virtual bank
Repurchase agreements	¥ 89,327,000
Repurchase agreements secured by financial assets measured at fair value through other comprehensive income	¥ 89,327,000	$ 100,000,000

Derivative financial assets a_3

Derivative financial assets and liabilities (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about financial instruments
Derivative financial Liabilities, fair value	¥ 9,568	¥ 190,971
Derivative financial assets, fair value	56,363
Derivative financial assets, notional amount	1,390,341
Derivative financial liabilities, notional amount	208,938	3,282,823
Foreign exchange swaps
Disclosure of detailed information about financial instruments
Derivative financial Liabilities, fair value	9,568	152,005
Derivative financial assets, fair value	19,279
Derivative financial assets, notional amount	648,404
Derivative financial liabilities, notional amount	208,938	2,186,865
Currency forwards
Disclosure of detailed information about financial instruments
Derivative financial Liabilities, fair value		38,966
Derivative financial assets, fair value	37,084
Derivative financial assets, notional amount	¥ 741,937
Derivative financial liabilities, notional amount		¥ 1,095,958

Dividends (Details)

Dividends (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Dividends
Dividend paid	¥ 0	¥ 0

Deferred income tax - Deferred

Deferred income tax - Deferred tax Assets (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Movements of deferred tax assets
Deferred tax assets, Opening balance	¥ 683,218	¥ 564,562	¥ 423,786
Recognized in the profit or loss	82,741	118,656	140,776
Deferred tax assets, Closing balance	765,959	683,218	564,562
Tax losses
Movements of deferred tax assets
Deferred tax assets, Opening balance	429,901	312,908	180,142
Recognized in the profit or loss	112,340	116,993	132,766
Deferred tax assets, Closing balance	542,241	429,901	312,908
Accelerated amortization of intangible assets
Movements of deferred tax assets
Deferred tax assets, Opening balance	206,522	212,035	218,056
Recognized in the profit or loss	(21,274)	(5,513)	(6,021)
Deferred tax assets, Closing balance	185,248	206,522	212,035
Others
Movements of deferred tax assets
Deferred tax assets, Opening balance	46,795	39,619	25,588
Recognized in the profit or loss	(8,325)	7,176	14,031
Deferred tax assets, Closing balance	¥ 38,470	¥ 46,795	¥ 39,619

Deferred income tax - Deferre_2

Deferred income tax - Deferred tax liabilities (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred Income Tax
Deferred tax liabilities, Opening balance	¥ 9,861	¥ 20,080	¥ 33,291
Recognized in the profit or loss	(4,665)	(10,219)	(13,211)
Deferred tax liabilities, Closing balance	5,196	9,861	20,080
Intangible assets acquired through business combination
Deferred Income Tax
Deferred tax liabilities, Opening balance	9,861	20,080	33,291
Recognized in the profit or loss	(4,665)	(10,219)	(13,211)
Deferred tax liabilities, Closing balance	¥ 5,196	¥ 9,861	¥ 20,080

Deferred income tax - Deferre_3

Deferred income tax - Deferred tax offsetting (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Offsetting of deferred tax assets and deferred tax liabilities
Deferred tax assets and liabilities after offsetting	¥ 0	¥ 0

Cash flow information - Cash us

Cash flow information - Cash used in operations (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Loss before income tax	¥ (990,173)	¥ (1,442,608)	¥ (1,551,254)
Depreciation and amortization	281,430	438,749	421,228
Net impairment losses on financial and contract assets	33,639	72,229	134,519
Net impairment losses on intangible assets	10,208
(Gain)/losses on disposal of property and equipment	14,490	266	(1,302)
Expected credit losses on financial guarantee contracts			62,389
Share-based payments expenses	13,361	25,409	89,652
Net losses/(gain) on derivatives	(262,769)	169,545	281,691
Net gain on financial assets at fair value through profit or loss	(30,687)	(45,644)	(49,447)
Share of losses/(gain) of associates and joint ventures	(24,852)	(9,946)	7,802
Gain on dilution of investment in associates			(2,511)
Impairment charges on associates	10,998
Remeasurement of redemption liability	(37,874)
Finance costs	35,168	74,743	135,321
Interest from investing activities	(6,646)	(22,983)	(65,858)
Exchange losses/(gain)	312,843	(77,143)	(285,722)
Changes in working capital:
Trade receivables	(63,884)	(123,371)	(206,372)
Contract assets	106,135	45,855	(75,778)
Prepayments and other receivables	(335,419)	(353,480)	30,933
Trade and other payable	106,952	530,095	451,688
Contract liabilities	13,365	17,032	38,570
Customer deposits	579,012	944,318	405,853
Other financial liabilities from virtual bank	89,327
Financial assets measured at amortized cost from virtual bank	13,341	586,953	(602,291)
Financial assets measured at fair value through other comprehensive income from virtual bank	(504,942)	(1,103,460)
Payroll and welfare payables	(83,809)	(110,263)	87,198
Cash used in operations	¥ (720,786)	¥ (383,704)	¥ (693,691)

Cash flow information - Non cas

Cash flow information - Non cash investing and financing activities (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flow information
Acquisition of right-of-use properties by leasing	¥ 76,534	¥ 118,030	¥ 38,646

Cash flow information - Gross d

Cash flow information - Gross debt (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flow information
Restricted cash and time deposits over three months	¥ 343,814	¥ 1,060,427
Cash and cash equivalents	1,907,776	1,399,370	¥ 3,055,194	¥ 1,077,875
Financial assets at fair value through profit or loss	690,627	2,071,653
Lease liabilities	(91,583)	(154,890)
-due within one year	(47,030)	(57,417)
-due after one year	(44,553)	(97,473)
Borrowings - repayable within one year	(289,062)	(815,260)
Net debt	2,561,572	3,561,300	¥ 4,406,038	¥ 2,800,876
Cash and liquid investments	2,942,217	4,531,450
Gross debt - fixed interest rates	¥ (380,645)	¥ (970,150)

Cash flow information - Gross_2

Cash flow information - Gross debt reconciliation (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net debt reconciliation
Net debt at the beginning of the year	¥ 3,561,300	¥ 4,406,038	¥ 2,800,876
Cash flows	(1,147,187)	(675,111)	1,991,903
Acquisition of right-of-use assets	(76,534)	(118,030)	(38,646)
Other Changes	223,993	(51,597)	(348,095)
Net debt at the end of the year	2,561,572	3,561,300	4,406,038
Acquisition of subsidiaries (Note 35)			(38,646)
Lease liabilities
Net debt reconciliation
Net debt at the beginning of the year	(154,890)	(134,219)	(189,689)
Cash flows	76,734	96,139	100,997
Acquisition of right-of-use assets	(76,534)	(118,030)
Other Changes	63,107	1,220	(6,881)
Net debt at the end of the year	(91,583)	(154,890)	(134,219)
Acquisition of subsidiaries (Note 35)			(38,646)
Borrowings
Net debt reconciliation
Net debt at the beginning of the year	(815,260)	(2,283,307)	(3,218,566)
Cash flows	543,501	1,524,899	1,062,844
Other Changes	(17,303)	(56,852)	(127,585)
Net debt at the end of the year	(289,062)	(815,260)	(2,283,307)
Restricted cash
Net debt reconciliation
Net debt at the beginning of the year	1,060,427	2,280,499	3,440,289
Cash flows	(788,828)	(1,206,607)	(1,064,813)
Other Changes	72,215	(13,465)	(94,977)
Net debt at the end of the year	343,814	1,060,427	2,280,499
Cash and cash equivalents
Net debt reconciliation
Net debt at the beginning of the year	1,399,370	3,055,194	1,077,875
Cash flows	433,119	(1,627,680)	2,145,418
Other Changes	75,287	(28,144)	(168,099)
Net debt at the end of the year	1,907,776	1,399,370	3,055,194
Financial assets at fair value through profit or loss
Net debt reconciliation
Net debt at the beginning of the year	2,071,653	1,487,871	1,690,967
Cash flows	(1,411,713)	538,138	(252,543)
Other Changes	30,687	45,644	49,447
Net debt at the end of the year	¥ 690,627	¥ 2,071,653	¥ 1,487,871

Related party transactions - Ke

Related party transactions - Key management personnel compensations (Details) - Key management - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of transactions between related parties
Wages and salaries	¥ 21,123	¥ 28,163	¥ 29,115
Welfare and other benefits	614	772	1,385
Share-based payments	8,401	4,187	3,627
Total	¥ 31,138	¥ 33,122	¥ 34,127

Related party transactions - Si

Related party transactions - Significant Transactions (Details) - CNY (¥)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of transactions between related parties
Revenue	¥ 2,526,682,000	¥ 2,315,220,000	¥ 1,734,227,000
Ping An Group and its subsidiaries
Disclosure of transactions between related parties
Revenue	2,526,682,000	2,315,220,000	1,730,038,000
Purchase of services	1,706,436,000	1,534,302,000	1,285,595,000
Net loss on disposal of property and equipment	(599,000)
Net gain from wealth management products consolidated by related parties	18,890,000	26,249,000	8,704,000
Net( loss)/gain on derivatives	262,769,000	(169,545,000)	(281,691,000)
Interest income on bank deposits	9,234,000	12,037,000	28,129,000
Leasing payment	20,957,000	19,849,000	19,991,000
Interest expenses	2,672,000	15,914,000	32,575,000
Net gain on financial assets measured at fair value through other comprehensive income	315,000
Revenue from lending services charged directly to borrowers	0	0	5,290,568
Puhui Lixin
Disclosure of transactions between related parties
Revenue			4,189,000
Open Portal Guangxi
Disclosure of transactions between related parties
Investment income from loan to related party	283,000
Third party lenders of subsidiary of Ping An Group
Disclosure of transactions between related parties
Revenue	¥ 0	0	3,230,878
Ping An Technology (Shenzhen) Co., Ltd
Disclosure of transactions between related parties
Revenue		¥ 8,308,537	¥ 6,546,653

Related party transactions - Ye

Related party transactions - Year end balances (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of transactions between related parties
Prepayment and other receivables	¥ 771,137	¥ 534,842
Trade and other payables	1,086,907	1,178,800
Derivative financial liabilities	9,568	190,971
Ping An Group and its subsidiaries [Member]
Disclosure of transactions between related parties
Trade receivables.	372,456	442,694
Contract assets	9,876	17,746
Prepayment and other receivables	771,137	531,327
Financial assets at fair value through profit or loss	405,960	599,540
Cash and restricted cash and time deposits over three months	787,916	1,131,585
Trade and other payables	1,086,907	1,178,438
Contract liabilities	27,517	19,018
Short-term borrowings		300,805
Derivative financial assets	56,363
Derivative financial liabilities	¥ 9,568	190,971
Open Portal Guangxi
Disclosure of transactions between related parties
Prepayment and other receivables		3,515
Trade and other payables		¥ 362

The Group's maximum exposure _3

The Group's maximum exposure to unconsolidated structured entities (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Disclosure of unconsolidated structured entities [line items]
Carrying amount	¥ 690,627	¥ 2,071,653
Asset management products | Group
Disclosure of unconsolidated structured entities [line items]
Size	594,058	1,329,453
Wealth management products | Related parties
Disclosure of unconsolidated structured entities [line items]
Carrying amount	690,627	2,070,977
The Group's maximum exposure	¥ 690,627	¥ 2,070,977

Contingencies (Details)

Contingencies (Details) - CNY (¥)	Dec. 31, 2022	Dec. 31, 2021
Contingencies
Material contingent liabilities	¥ 0	¥ 0

Restricted net assets (Details)

Restricted net assets (Details)	12 Months Ended
	Dec. 31, 2022 CNY (¥)
Restricted net assets
Minimum percentage of appropriation to the statutory general reserve fund	10%
Maximum percentage of appropriation to the statutory general reserve fund	50%
Total restricted net assets	¥ 0

Parent company only condensed_3

Parent company only condensed financial information - Comprehensive Income (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Statements of Comprehensive Income
Selling and marketing expenses	¥ (411,356)	¥ (588,380)	¥ (629,488)
General and administrative expenses	(824,711)	(841,685)	(834,917)
Other income, gains or loss-net	70,818	13,921	58,432
Operating loss	(981,563)	(1,404,740)	(1,470,326)
Finance income/(costs) - net	14,709	28,823	77,237
Finance costs	(37,173)	(76,637)	(150,363)
Share of losses of joint venture	(439)	(2,204)	(2,924)
Loss before income tax	(990,173)	(1,442,608)	(1,551,254)
Income tax expenses	62,147	112,095	137,131
Loss for the year	(872,274)	(1,281,699)	(1,353,608)
Items that may be subsequently reclassified to profit or loss
Foreign currency translation differences	426,145	(152,542)	(608,427)
Changes in the fair value of debt instruments at fair value through other comprehensive income	5,324	(1,812)	(39)
Items that will not be subsequently reclassified to profit or loss
Changes in the fair value of equity investments measured at fair value through other comprehensive income		(1,796)
Total comprehensive loss	(440,805)	(1,436,053)	(1,962,074)
Parent company
Condensed Statements of Comprehensive Income
Selling and marketing expenses	(387)	(439)	(2,374)
General and administrative expenses	(104,653)	(53,621)	(45,655)
Other income, gains or loss-net	2,555	834	7,780
Operating loss	(567,942)	(53,226)	(40,249)
Finance income/(costs) - net		(32)	4,564
Finance costs	(573)
Share of losses of joint venture		(2,896)	(2,283)
Share of losses of subsidiaries and VIEs	(303,759)	(1,225,545)	(1,314,998)
Loss before income tax	(872,274)	(1,281,699)	(1,352,966)
Income tax expenses			(642)
Loss for the year	(872,274)	(1,281,699)	(1,353,608)
Items that may be subsequently reclassified to profit or loss
Foreign currency translation differences	69,454	(152,542)	(608,427)
Changes in the fair value of debt instruments at fair value through other comprehensive income	5,324	(16)	(39)
Items that will not be subsequently reclassified to profit or loss
Foreign currency translation differences	356,691
Changes in the fair value of equity investments measured at fair value through other comprehensive income		(1,796)
Total comprehensive loss	¥ (440,805)	¥ (1,436,053)	¥ (1,962,074)

Parent company only condensed_4

Parent company only condensed financial information - Balance Sheet (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Non-current assets
Total non-current assets	¥ 2,508,106	¥ 2,442,213
Current assets
Prepayments and other receivables	1,078,604	752,667
Cash and cash equivalents	1,907,776	1,399,370	¥ 3,055,194	¥ 1,077,875
Total current assets	6,374,276	6,898,394
Total assets	8,882,382	9,340,607	10,885,258
Equity
Share capital	78	78
Shares held for share incentive scheme	(149,544)	(80,102)
Reserves	10,953,072	10,512,631	10,639,931	8,461,637
Accumulated losses	(7,510,899)	(6,638,625)
Equity attributable to equity owners of the Company	3,292,707	3,793,982
Non-current liabilities
Trade and other payables	132,833	313,834
Total non-current liabilities	158,006	343,113
Current liabilities
Trade and other payables	2,531,273	2,137,099
Total current liabilities	5,446,321	5,162,412
Total liabilities	5,604,327	5,505,525	5,599,975
Total equity and liabilities	8,882,382	9,340,607
Parent company
Non-current assets
Interest in subsidiaries	1,764,074	1,280,946
Total non-current assets	1,764,074	1,280,946
Current assets
Amount due from subsidiaries	1,641,677	2,662,705
Prepayments and other receivables	448	246
Cash and cash equivalents	7,327	6,454	¥ 31,857	¥ 634,507
Total current assets	1,649,452	2,669,405
Total assets	3,413,526	3,950,351
Equity
Share capital	78	78
Shares held for share incentive scheme	(149,544)	(80,102)
Reserves	10,953,072	10,512,631
Accumulated losses	(7,510,899)	(6,638,625)
Equity attributable to equity owners of the Company	3,292,707	3,793,982
Non-current liabilities
Trade and other payables	88,280	88,280
Total non-current liabilities	88,280	88,280
Current liabilities
Trade and other payables	32,539	68,089
Total current liabilities	32,539	68,089
Total liabilities	120,819	156,369
Total equity and liabilities	¥ 3,413,526	¥ 3,950,351

Parent company only condensed_5

Parent company only condensed financial information - Cash Flows (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash generated from /(used in) operating activities
Cash used in operations	¥ (720,786)	¥ (383,704)	¥ (693,691)
Net cash used in operating activities	(745,984)	(404,334)	(704,145)
Cash flows from investing activities
Payment for interest in subsidiaries, net of cash acquired	0	(11,060)	0
Net cash generated from investing activities	1,873,169	388,435	1,315,725
Cash flows from financing activities
Proceeds from exercise of shares under share incentive scheme	1,161	9,257
Proceeds from issuance of ordinary shares			2,722,445
Share issue transaction costs			(24,766)
Net cash generated from/(used in) financing activities	(694,066)	(1,611,781)	1,533,838
Net (decrease)/increase in cash and cash equivalents	433,119	(1,627,680)	2,145,418
Cash and cash equivalents at the beginning of the year	1,399,370	3,055,194	1,077,875
Effects of exchange rate changes on cash and cash equivalents	75,287	(28,144)	(168,099)
Cash and cash equivalents at the end of year	1,907,776	1,399,370	3,055,194
Parent company
Cash generated from /(used in) operating activities
Cash used in operations	(139,011)	(51,132)	(5,230)
Net cash used in operating activities	(139,011)	(51,132)	(5,230)
Cash flows from investing activities
Payment for interest in subsidiaries, net of cash acquired	(3,005,546)	(1,333,804)	(3,381,568)
Proceeds from loan to subsidiaries	3,218,655	1,350,654	85,694
Net cash generated from investing activities	213,109	16,850	(3,295,874)
Cash flows from financing activities
Proceeds from exercise of shares under share incentive scheme	1,161	9,257
Proceeds from issuance of ordinary shares			2,722,445
Proceeds from issuance of ordinary shares upon initial public offering	(74,992)
Share issue transaction costs			(24,766)
Net cash generated from/(used in) financing activities	(73,831)	9,257	2,697,679
Net (decrease)/increase in cash and cash equivalents	267	(25,025)	(603,425)
Cash and cash equivalents at the beginning of the year	6,454	31,857	634,507
Effects of exchange rate changes on cash and cash equivalents	606	(378)	775
Cash and cash equivalents at the end of year	¥ 7,327	¥ 6,454	¥ 31,857

Parent company only condensed_6

Parent company only condensed financial information - Interest in subsidiaries and amount due from subsidiaries (Details) - Parent company - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Interest in subsidiaries
Equity investment in subsidiaries		¥ 1,764,074	¥ 1,280,946
Interest in subsidiaries	¥ 1,764,074	1,280,946
Amount due from subsidiaries
Loan receivables		¥ 1,641,677	¥ 2,662,705

Subsequent events - Additional

Subsequent events - Additional information (Details) - Puhui Lixin	Nov. 24, 2022 CNY (¥)
Disclosure of non-adjusting events after reporting period
Consideration for Sale of Equity Interest	¥ 199,200,000
Equity interest sale
Disclosure of non-adjusting events after reporting period
Percentage of Equity Interest Sold	40%