Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2022 shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Entity File Number | 001-39654 |
Document Period End Date | Dec. 31, 2022 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | Lufax Holding Ltd |
Entity Central Index Key | 0001816007 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Incorporation, State or Country Code | E9 |
Entity Address, Address Line One | Building No. 6Lane 2777 |
Entity Address, Address Line Two | Jinxiu East Road |
Entity Address, City or Town | Pudong New District |
Entity Address, Country | CN |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
Entity Common Stock, Shares Outstanding | 1,145,993,969 |
Entity Shell Company | false |
ICFR Auditor Attestation Flag | true |
Auditor Name | PricewaterhouseCoopers Zhong Tian LLP |
Auditor Firm ID | 1424 |
Auditor Location | Shanghai, the People’s Republic of China |
Document Accounting Standard | International Financial Reporting Standards |
Entity Address, Postal Zip Code | 6 |
Business Contact [Member] | |
Document Information [Line Items] | |
Entity Address, Address Line One | Building No. 6Lane 2777 |
Entity Address, Address Line Two | Jinxiu East Road |
Entity Address, City or Town | Pudong New District |
Entity Address, Country | CN |
Country Region | 86 |
City Area Code | 21 |
Local Phone Number | 3863-6278 |
Contact Personnel Name | David Siu Kam Choy |
Entity Address, Postal Zip Code | 6 |
Ordinary shares [member] | |
Document Information [Line Items] | |
Title of 12(b) Security | Ordinary shares, par value US$0.00001 per share |
No Trading Symbol Flag | true |
Security Exchange Name | NYSE |
American depositary shares [member] | |
Document Information [Line Items] | |
Title of 12(b) Security | American depositary shares (two American depositary shares representing one ordinary share, par value US$0.00001 per share) |
Trading Symbol | LU |
Security Exchange Name | NYSE |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Statement [Line Items] | |||
Technology platform-based income | ¥ 29,218,432 | ¥ 38,294,317 | ¥ 41,221,842 |
Net interest income | 18,981,376 | 14,174,231 | 7,750,460 |
Guarantee income | 7,372,509 | 4,370,342 | 601,644 |
Other income | 1,238,004 | 3,875,407 | 1,517,042 |
Investment income | 1,305,625 | 1,151,753 | 939,899 |
Share of net profit/(loss) of investments accounted for using the equity method | (218) | (31,143) | 14,837 |
Total income | 58,115,728 | 61,834,907 | 52,045,724 |
Total expenses | |||
Sales and marketing expenses | (15,756,916) | (17,993,072) | (17,813,557) |
General and administrative expenses | (2,830,119) | (3,559,323) | (2,975,544) |
Operation and servicing expenses | (6,429,862) | (6,557,595) | (6,031,297) |
Technology and analytics expenses | (1,872,454) | (2,083,994) | (1,792,081) |
Credit impairment losses | (16,550,465) | (6,643,727) | (3,035,188) |
Asset impairment losses | (427,108) | (1,100,882) | (7,168) |
Finance costs | (1,238,992) | (995,515) | (2,865,654) |
Other gains/(losses)—net | 3,459 | 499,379 | 384,270 |
Total expenses | (45,102,457) | (38,434,729) | (34,136,219) |
Profit before income tax expenses | 13,013,271 | 23,400,178 | 17,909,505 |
Less: Income tax expenses | (4,238,232) | (6,691,118) | (5,633,265) |
other comprehensive income/(loss) | 8,775,039 | 16,709,060 | 12,276,240 |
Net profit attributable to: | |||
Owners of the Company | 8,699,369 | 16,804,380 | 12,354,114 |
Non-controlling interests | 75,670 | (95,320) | (77,874) |
other comprehensive income/(loss) | 8,775,039 | 16,709,060 | 12,276,240 |
Items that may be reclassified to profit or loss | |||
-Exchange differences on translation of foreign operations | (289,599) | 66,501 | 289,593 |
Items that will not be reclassified to profit or loss | |||
-Exchange differences on translation of foreign operations | (1,291,250) | (38,219) | 325,058 |
Total comprehensive income for the year | 7,194,190 | 16,737,342 | 12,890,891 |
Total comprehensive income attributable to: | |||
Owners of the Company | 7,118,117 | 16,832,782 | 12,968,513 |
Non-controlling interests | 76,073 | (95,440) | (77,622) |
Total comprehensive income for the year | ¥ 7,194,190 | ¥ 16,737,342 | ¥ 12,890,891 |
Earnings per share (expressed in RMB per share) | |||
-Basic earnings per ADS | ¥ 3.8 | ¥ 7.11 | ¥ 5.59 |
-Diluted earnings per ADS | 3.79 | 6.69 | 5.55 |
Ordinary shares [member] | |||
Earnings per share (expressed in RMB per share) | |||
-Basic earnings per share | 7.6 | 14.22 | 11.19 |
-Diluted earnings per share | ¥ 7.58 | ¥ 13.38 | ¥ 11.1 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position ¥ in Thousands, $ in Millions | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) |
ASSETS | ||
Cash at bank | ¥ 43,882,127 | ¥ 34,743,188 |
Restricted cash | 26,508,631 | 30,453,539 |
Financial assets at fair value through profit or loss | 29,089,447 | 31,023,211 |
Financial assets at amortized cost | 4,716,448 | 3,784,613 |
Financial assets purchased under reverse repurchase agreements | 0 | 5,527,177 |
Accounts and other receivables and contract assets | 15,758,135 | 22,344,773 |
Loans to customers | 211,446,645 | 214,972,110 |
Deferred tax assets | 4,990,352 | 4,873,370 |
Property and equipment | 322,499 | 380,081 |
Investments accounted for using the equity method | 39,271 | 459,496 |
Intangible assets | 885,056 | 899,406 |
Right-of-use assets | 754,010 | 804,990 |
Goodwill | 8,911,445 | 8,918,108 |
Other assets | 1,958,741 | 1,249,424 |
Total assets | 349,262,807 | 360,433,486 |
LIABILITIES | ||
Payable to platform investors | 1,569,367 | 2,747,891 |
Borrowings | 36,915,513 | 25,927,417 |
Bonds issued | 2,143,348 | 0 |
Current income tax liabilities | 1,987,443 | 8,222,684 |
Accounts and other payables and contract liabilities | 12,198,654 | 8,814,255 |
Payable to investors of consolidated structured entities | 177,147,726 | 195,446,140 |
Financing guarantee liabilities | 5,763,369 | 2,697,109 |
Deferred tax liabilities | 694,090 | 833,694 |
Lease liabilities | 748,807 | 794,544 |
Convertible promissory note payable | 5,164,139 | 10,669,498 |
Optionally convertible promissory notes | 8,142,908 | 7,405,103 |
Other liabilities | 2,000,768 | 2,315,948 |
Total liabilities | 254,476,132 | 265,874,283 |
EQUITY | ||
Share capital | 75 | 75 |
Share premium | 32,073,874 | 33,365,786 |
Treasury shares | (5,642,769) | (5,560,104) |
Other reserves | 2,158,432 | 9,304,995 |
Retained earnings | 64,600,234 | 55,942,943 |
Total equity attributable to owners' of the Company | 93,189,846 | 93,053,695 |
Non-controlling interests | 1,596,829 | 1,505,508 |
Total equity | 94,786,675 | 94,559,203 |
Total liabilities and equity | ¥ 349,262,807 | ¥ 360,433,486 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Equity - CNY (¥) ¥ in Thousands | Total | Share capital [member] | Share premium [member] | Treasury shares [member] | Other reserves [member] | Retained earnings [member] | Total [member] | Non-controlling interests [member] |
Beginning balance at Dec. 31, 2019 | ¥ 48,145,417 | ¥ 69 | ¥ 14,113,311 | ¥ (2) | ¥ 4,582,291 | ¥ 29,345,949 | ¥ 48,041,618 | ¥ 103,799 |
Net profit for the year | 12,276,240 | 12,354,114 | 12,354,114 | (77,874) | ||||
Other comprehensive income | 614,651 | 614,399 | 614,399 | 252 | ||||
Total comprehensive income for the year | 12,890,891 | 614,399 | 12,354,114 | 12,968,513 | (77,622) | |||
Transactions with owners | ||||||||
Repurchase of ordinary shares | ||||||||
C-round restructuring | 1,295,658 | 1,295,658 | 1,295,658 | |||||
Issuance of ordinary shares upon initial public offering ("IPO") and exercise of over-allotment option | 17,305,126 | 7 | 17,305,119 | 17,305,126 | ||||
Conversion of Class C ordinary shares and automatically convertible promissory notes to ordinary shares upon IPO | 1,784,729 | 1 | 1,794,996 | (10,268) | 1,784,729 | |||
Contributions from non-controlling interests | 1,564,252 | 1,564,252 | ||||||
Appropriations to general reserve | 772,466 | (772,466) | ||||||
Share-based payment | 165,248 | 164,164 | 164,164 | 1,084 | ||||
Dividend declared | 0 | |||||||
Ending balance at Dec. 31, 2020 | 83,151,321 | 77 | 33,213,426 | (2) | 7,418,710 | 40,927,597 | 81,559,808 | 1,591,513 |
Net profit for the year | 16,709,060 | 16,804,380 | 16,804,380 | (95,320) | ||||
Other comprehensive income | 28,282 | 28,402 | 28,402 | (120) | ||||
Total comprehensive income for the year | 16,737,342 | 28,402 | 16,804,380 | 16,832,782 | (95,440) | |||
Transactions with owners | ||||||||
Repurchase of ordinary shares | (5,560,104) | (5,560,104) | (5,560,104) | |||||
Retirement of ordinary share | (2) | 2 | ||||||
Exercise of share-based payment | 79,651 | 152,360 | (72,709) | 79,651 | ||||
Contributions from non-controlling interests | 22,333 | 22,333 | ||||||
Acquisition of non-controlling Interests of a subsidiary | (4,735) | 9,487 | 9,487 | (14,222) | ||||
Appropriations to general reserve | 1,789,034 | (1,789,034) | ||||||
Share-based payment | 133,395 | 132,071 | 132,071 | 1,324 | ||||
Dividend declared | 0 | |||||||
Ending balance at Dec. 31, 2021 | 94,559,203 | 75 | 33,365,786 | (5,560,104) | 9,304,995 | 55,942,943 | 93,053,695 | 1,505,508 |
Net profit for the year | 8,775,039 | 8,699,369 | 8,699,369 | 75,670 | ||||
Other comprehensive income | (1,580,849) | (1,581,252) | (1,581,252) | 403 | ||||
Total comprehensive income for the year | 7,194,190 | (1,581,252) | 8,699,369 | 7,118,117 | 76,073 | |||
Transactions with owners | ||||||||
Repurchase of ordinary shares | (82,665) | (82,665) | (82,665) | |||||
Exercise of share-based payment | 58,953 | 127,063 | (68,110) | 58,953 | ||||
Contributions from non-controlling interests | 15,938 | 15,938 | ||||||
Appropriations to general reserve | 42,078 | (42,078) | ||||||
Share-based payment | 45,919 | 45,491 | 45,491 | 428 | ||||
Capital reduction from non-controlling interests | (1,118) | (1,118) | ||||||
Redemption and extension of convertible promissory notes | 624,828 | 6,209,598 | (5,584,770) | 624,828 | ||||
Dividend declared | (7,628,573) | (7,628,573) | (7,628,573) | |||||
Ending balance at Dec. 31, 2022 | ¥ 94,786,675 | ¥ 75 | ¥ 32,073,874 | ¥ (5,642,769) | ¥ 2,158,432 | ¥ 64,600,234 | ¥ 93,189,846 | ¥ 1,596,829 |
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 generated from operating activities | ¥ 14,730,306 | ¥ 12,995,271 | ¥ 11,344,711 |
Income tax paid | (10,275,005) | (8,007,799) | (4,223,429) |
Net cash generated from/(used in) operating activities | 4,455,301 | 4,987,472 | 7,121,282 |
Cash flows from investing activities | |||
Proceeds from sale of investment assets | 99,031,093 | 132,430,620 | 151,232,710 |
Proceeds from sale of property and equipment | 19,655 | 5 | 3,055 |
Interest received on investment assets | 1,725,499 | 1,455,115 | 1,238,619 |
Payment for acquisition of investment assets | (97,732,903) | (128,591,697) | (166,531,308) |
Securities purchases under agreements to resell, net | 5,527,177 | (4,827,170) | (700,007) |
Payment for property and equipment and other long-term assets | (122,843) | (153,051) | (206,496) |
Payment for acquisition of subsidiary, net of cash acquired | 0 | 0 | (40,323) |
Net cash generated from/(used in) investing activities | 8,447,678 | 313,822 | (15,003,750) |
Cash flows from financing activities | |||
Proceeds from issuance of shares and other equity securities | 15,938 | 22,333 | 18,907,992 |
Including: Proceeds from capital contribution from the non-controlling shareholder of a subsidiaries | 15,938 | 22,333 | 1,564,252 |
Proceeds from exercise of share-based payment | 95,911 | 43,456 | 0 |
Proceeds from borrowings | 9,046,338 | 7,262,435 | 10,589,599 |
Repayment of borrowings | (5,794,772) | (1,802,187) | (2,875,672) |
Redemption of convertible promissory note payable | (3,747,386) | 0 | 0 |
Payment for lease liabilities | (604,172) | (663,160) | (596,575) |
Payment for interest expenses | (1,213,186) | (867,715) | (1,151,421) |
Payment for dividend declared | (7,717,474) | 0 | 0 |
Payment for acquisition of non-controlling interests of subsidiary | 0 | (4,735) | 0 |
Payment for repurchase of ordinary shares | 0 | (6,438,455) | 0 |
Net cash generated from/(used in) financing activities | (9,918,803) | (2,448,028) | 24,873,923 |
Effect of exchange rate changes on cash and cash equivalents | 57,025 | (142,607) | (517,865) |
Net increase in cash and cash equivalents | 3,041,201 | 2,710,659 | 16,473,590 |
Add: Cash and cash equivalents at the beginning of the year | 26,496,310 | 23,785,651 | 7,312,061 |
Cash and cash equivalents at the end of the year | ¥ 29,537,511 | ¥ 26,496,310 | ¥ 23,785,651 |
General Information
General Information | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
General information | 1 General information Lufax Holding Ltd (the “Company”) was incorporated in the Cayman Islands on December 2, 2014 as an exempted company with limited liability under the Companies Law (Revised) of the Cayman Islands. The address of its registered office is Conyers Trust Company (Cayman) Limited, Cricket Square, Hutchins Drive, PO Box 309, Ugland House, Grand Cayman, KY1-1104, The Company is an investment holding company and with its consolidated subsidiaries and consolidated structured entities that are controlled through contractual arrangements (“Consolidated Affiliated Entities”, or “OPCO”) (collectively referred to as the “Group”) are principally engaged in core retail credit and enablement business to both borrowers and institutions (the “Listing Business”) in the People’s Republic of China (the “PRC”). |
History And Organization of The
History And Organization of The Group | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
History and organization of the Group | 2 History and organization of the Group The Group subscribed RMB3.5 billion or 70% of the equity interest of Ping An Consumer Finance while Ping An Group subscribed RMB1.5 billion or 30%. Ping An Consumer Finance obtained approval from China Banking and Insurance Regulatory Commission (“CBIRC”) in March, 2020 for commencement of operation and started the consumer finance business from April, 2020. On September 30, 2020, the Company issued automatically convertible promissory notes and optionally convertible promissory notes (collectively, “Convertible Notes”) to certain holders of the Class C ordinary shares , in exchange for Class C ordinary shares held by them “C-round one-time On October 30, 2020, the Company’s American depositary shares (“ADSs”) commenced trading on the New York Stock Exchange under the ticker symbol “LU”. On December 1, 2020, the underwriters partially exercised their over-allotment option to purchase additional ADSs. As a result, the Company issued and sold an aggregate of 199,155,128 ADSs in its IPO (including 24,155,128 ADSs sold upon the underwriters’ partial exercise of their over-allotment option), each two ADSs representing one ordinary share, for a total of 99,577,564 ordinary shares, at the price of USD13.5 per ADS, which raised total net proceeds of USD2,581 million (equivalent to approximately RMB17,305 million) after deducting underwriting commissions and the offering expenses payable by the Company, including USD314 million sold upon the underwriters’ partial exercise of their over-allotment options. Immediately prior to the completion of the IPO, all of the Company’s issued and outstanding Class B ordinary shares and Class C ordinary shares were automatically converted into 136,859,460 Class A ordinary shares on a one-for-one re-designated re-classified one-for-one During 2021, the board of directors of the Company authorized share repurchase programs under which the Company could repurchase up to an aggregate of USD1 billion of its ADSs during a specific period of time. As of December 31, 2022, the Company had repurchased approximately 110 million ADSs (or 55 million ordinary shares) for approximately USD877 million under share repurchase programs. (a) As of December 31, 2021, the Company had direct or indirect interests in the principal subsidiaries and the principal consolidated affiliated entities as below. Company Name Country/place and date of Attributable equity Controlled through direct equity holding: Gem Blazing Limited Cayman/May 28, 2015 100 % Wincon Hong Kong Investment Company Limited Hong Kong/December 29, 2014 100 % Weikun (Shanghai) Technology Service Co., Ltd. (“Weikun Technology”) Shanghai/February 28, 2015 100 % Jinjiong (Shenzhen) Technology Service Company Ltd. Shenzhen/October 16, 2017 100 % Lufax Holding (Shenzhen) Technology Service Co., Ltd. Shenzhen/September 25, 2018 100 % Gem Alliance Limited Cayman/May 26, 2015 100 % Harmonious Splendor Limited Hong Kong/June 1, 2015 100 % Ping An Puhui Financing Guarantee Co., Ltd (“Puhui Guarantee”) Nanjing/December 25, 2007 100 % Ping An Puhui Enterprises Management Co., Ltd. Shenzhen/July 7, 2015 100 % Ping An Puhui Investment & Consulting Co., Ltd. Shenzhen/September 5, 2005 100 % Shenzhen Ping An Puhui Microloan Co., Ltd. Shenzhen/September 19, 2010 100 % Ping An Puhui Information Services Co., Ltd. Harbin/July 18, 2016 100 % Ping An Consumer Finance Co., Ltd. Shanghai/April 9, 2020 70 % Controlled through Contractual Agreements Shanghai Xiongguo Enterprise Management Co., Ltd. (“Xiongguo”) Shanghai/December 10, 2014 100 % Shanghai Lufax Information Technology Co., Ltd. Shanghai/September 29, 2011 100 % Shenzhen Lufax Holding Enterprise Management Co., Ltd. Shenzhen/May 23, 2018 100 % The English names of certain subsidiaries of the Group represent the best effort by the Company’s management to translate their Chinese names, as these subsidiaries do not have official English names. (b) As of December 31, 2022, the Company had direct or indirect interests in the principal subsidiaries and the principal consolidated affiliated entities as below. Company Name Country/place and date of Attributable equity Controlled through direct equity holding: Gem Blazing Limited Cayman/May 28, 2015 100 % Wincon Hong Kong Investment Company Limited Hong Kong/December 29, 2014 100 % Weikun (Shanghai) Technology Service Co., Ltd. (“Weikun Technology”) Shanghai/February 28, 2015 100 % Jinjiong (Shenzhen) Technology Service Company Ltd. Shenzhen/October 16, 2017 100 % Lufax Holding (Shenzhen) Technology Service Co., Ltd. Shenzhen/September 25, 2018 100 % Gem Alliance Limited Cayman/May 26, 2015 100 % Harmonious Splendor Limited Hong Kong/June 1, 2015 100 % Ping An Puhui Financing Guarantee Co., Ltd. Nanjing/December 25, 2007 100 % Ping An Puhui Enterprises Management Co., Ltd. Shenzhen/July 7, 2015 100 % Chongqing Jinan Microloan Co., Ltd. Chongqing/December 25, 2014 100 % Ping An Puhui Investment & Consulting Co., Ltd. Shenzhen/September 5, 2005 100 % Ping An Puhui Information Services Co., Ltd. Harbin/July 18, 2016 100 % Ping An Consumer Finance Co., Ltd. Shanghai/April 9, 2020 70 % Controlled through Contractual Agreements: Shanghai Xiongguo Enterprise Management Co., Ltd. (“Xiongguo”) Shanghai/December 10, 2014 100 % Shanghai Lufax Information Technology Co., Ltd. Shanghai/September 29, 2011 100 % Shenzhen Lufax Holding Enterprise Management Co., Ltd. Shenzhen/May 23, 2018 100 % The English names of certain subsidiaries of the Group represent the best effort by the Company’s management to translate their Chinese names (c) The following table sets forth the major consolidated structured entities other than Consolidated Affiliated Entities of the Group as of December 31, 2022. Name Amount of investment by the Group Remaining paid-in RMB’000 RMB’000 Trust A 4,020,000 4,020,000 Trust B 2,490,000 2,490,000 Trust C 2,430,000 2,430,000 Trust D 1,960,000 1,960,000 Trust E 1,600,000 1,600,000 Trust F 1,501,000 1,501,000 Trust G 1,110,000 1,110,000 Trust H 18,000 1,105,645 Trust I 1,100,000 1,100,000 Trust J 18,000 1,049,772 Ping An Group also made investments in these structured entities. Meanwhile, Ping An Group also provides certain services to certain consolidated structure entities. (i) The remaining paid-in (d) PRC laws and regulations prohibit or restrict foreign ownership of companies that conduct certain internet-based business, which include activities and services provided by the Group. The Group operates part of its business in the PRC through a series of contractual arrangements (collectively, “Contractual Arrangements”) entered into among wholly-owned subsidiaries of the Company (“WFOE”), Consolidated Affiliated Entities and the shareholders of Consolidated Affiliated Entities (“Onshore Shareholders”) that are authorized by the Group. The Contractual Arrangements include Exclusive Equity Interest Option Agreements, Exclusive Business Cooperation Arrangements, Exclusive Asset Option Agreements, Share Pledge Agreements and Voting Trust Agreements. Under the Contractual Arrangements, the Company has the power to control the management, financial and operating policies of the Consolidated Affiliated Entities, has exposure or rights to variable returns from its involvement with the Consolidated Affiliated Entities, and has ability to use its power over the Consolidated Affiliated Entities to affect the amount of the returns. As a result, all of these Consolidated Affiliated Entities are accounted for as consolidated structured entities of the Company and their financial statements have also been consolidated by the Company. The table below sets forth the principal Consolidated Affiliated Entities of the Group as of December 31, 2021 and 2022: Contract Date WFOE OPCO March 23, 2015 Weikun Technology Xiongguo March 23, 2015 Weikun Technology Shanghai Lufax Information Technology Co., Ltd November 21, 2018 Lufax (Shenzhen) Technology Service Co., Ltd Shenzhen Lufax Holding Enterprise Management Co., Ltd The principal terms of the Contractual Arrangements are further described below: • Exclusive Equity Interest Option Agreement Each Onshore Shareholder (which, collectively, legally own 100% of the shares of OPCO) have irrevocably and unconditionally granted WFOE an irrevocable and exclusive right to purchase, or designate one or more persons (each, a “Designee”) to purchase the equity interests in OPCO. WFOE shall be entitled to absolute discretion over the time, manner and times to exercise the option. Except for WFOE and the Designee(s), no other person shall be entitled to the Equity Interest Purchase Option or other rights with respect to the equity interests of OPCO held by any Onshore Shareholder. OPCO agreed to the grant by each Onshore Shareholder of the Equity Interest Purchase Option to WFOE. • Exclusive Business Cooperation Agreement OPCO appointed WFOE as OPCO’s exclusive services provider to provide OPCO with complete business support and technical and consulting services during the term of the Agreement. OPCO agreed to accept all the consultations and services provided by WFOE exclusively unless with written consent of the WFOE and to accept the consultations and services by a third party appointed by WFOE. WFOE shall provide financial support for OPCO to maintain an ordinary business. • Exclusive Asset Option Agreement OPCO irrevocably and unconditionally granted WFOE an irrevocable and exclusive right to purchase, or designate one or more persons (each, a “Designee”) to purchase the assets then held by OPCO once or at multiple times at any time in part or in whole at WFOE’s sole and absolute discretion. WFOE is entitled to absolute discretion over the time, manner and times to exercise the Option. Except for WFOE and the Designee(s), no other person shall be entitled to the Assets Purchase Option or other rights with respect to the assets of OPCO. Each Onshore Shareholder agreed to the grant by OPCO of the Assets Option to WFOE. • Share Pledge Agreement As collateral security for the prompt and complete performance of any and all obligations of each Onshore Shareholder (legally owns 100% of the shares of OPCO) under the Cooperation Agreements (collectively, the “Secured Obligations”), Onshore Shareholder pledged to WFOE a first security interest in its share of the equity interest of OPCO. • Voting trust Agreement Each Onshore Shareholder exclusively entrusted and authorized WFOE to exercise voting, management, and other shareholder rights of OPCO on its behalf. The powers and rights of WFOE granted under the said exclusive entrustment include but not limited to the following: propose, convene and attend shareholders’ meetings of OPCO; exercise all the shareholder’s rights and shareholder’s voting rights that each Onshore Shareholder is entitled to under the laws of the PRC and OPCO’s Articles of Association, including but not limited to the sale or transfer or pledge or disposition of shares in part or in whole, and participate in dividend distributions or any other type of distribution of OPCO. (e) Risks in relation to the Consolidated Affiliated Entities In the opinion of the Company’s management, the Contractual Arrangements discussed above have resulted in the Company and WFOE having the power to direct activities that most significantly impact the Consolidated Affiliated Entities, including appointing key management, setting up operating policies, exerting financial controls and transferring profit or assets out of the Consolidated Affiliated Entities at its discretion. The Company has the power to direct activities of the Consolidated Affiliated Entities and can have assets transferred out of the Consolidated Affiliated Entities under its control. Currently there is no contractual arrangement that could require the Company to provide additional financial support to the Consolidated Affiliated Entities. As the Company is conducting its Internet-related activities mainly through the Consolidated Affiliated Entities, the Company may provide such support on a discretionary basis in the future, which could expose the Company to a loss. As the Consolidated Affiliated Entities organized in the PRC were established as limited liability companies under PRC law, their creditors do not have recourse to the general credit of WFOE for the liabilities of the Consolidated Affiliated Entities, and WFOE does not have the obligation to assume the liabilities of these Consolidated Affiliated Entities. The Company determined that the Contractual Arrangements are in compliance with PRC law and are legally enforceable. However, uncertainties in the PRC legal system could limit the Group’s ability to enforce the Contractual Arrangements. On March 15, 2019, the Foreign Investment Law was formally passed by the thirteenth National People’s Congress and it has taken effect on January 1, 2020. The Foreign Investment Law has replaced the Law on Sino-Foreign Equity Joint Ventures, the Law on Sino-Foreign Cooperative Joint Ventures and the Law on Foreign-Capital Enterprises to become the legal foundation for foreign investment in the PRC. The Foreign Investment Law stipulates certain forms of foreign investment. However, the Foreign Investment Law does not explicitly stipulate contractual arrangements such as those the Company relies 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 Consolidated Affiliated Entities, its subsidiaries 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 Consolidated Affiliated Entities and financial conditions of the Company will not be materially and adversely affected. The Company’s ability to control Consolidated Affiliated Entities also depends on rights provided to WFOEs under the Voting trust Agreement, to vote on all matters requiring shareholder approval. As noted above, the Company believes the Voting trust 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 among WFOEs, the Consolidated Affiliated Entities and their respective shareholders were found to be in violation of any existing PRC laws and regulations, the relevant PRC regulatory authorities could: • revoke Consolidated Affiliated Entities’ business and operating licenses; • require Consolidated Affiliated Entities to discontinue or restrict its operations; • restrict Consolidated Affiliated Entities’ right to collect revenues; • block Consolidated Affiliated Entities’ websites; • require the Group to restructure the operations, re-apply • impose additional conditions or requirements with the Group may not be able to comply; or • take other regulatory or enforcement actions against the Group that could be harmful to the Group’s business. (f) The following are major financial statements amounts and balances of the Group’s Consolidated Affiliated Entities and their consolidated subsidiaries as of December 31, 2021 and 2022 and for the three years ended December 31, 2022. As of December 31, 2021 2022 RMB’000 RMB’000 Assets arising from inter-company transactions 3,911 10,328 Amount due from Group companies 535,200 2,412,424 Total assets 21,721,834 14,147,082 Amount due to Group companies 19,827,134 14,625,366 Total liabilities 24,101,238 16,951,253 Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Inter-company revenues (70,159 ) 5,249 156,029 Total income 1,571,968 1,566,847 966,196 Inter-company expenses 1,012,435 1,422,021 540,809 Total expense (1,714,084 ) (2,213,789 ) (1,359,876 ) Net loss (142,116 ) (646,942 ) (393,680 ) Inter-company cash flow (1,151,110 ) 1,369,172 (625,594 ) Reclassification (i) — 327,497 1,487,448 Other operating activities 1,835,668 (653,230 ) (916,309 ) Net cash generated from/(used in) operating activities 684,558 1,043,439 (54,455 ) Inter-company cash flow 501,185 (735,327 ) 564,266 Reclassification (i) — (327,497 ) (1,487,448 ) Payment for advances to consolidated entities (240,000 ) (500,000 ) — Receipts of repayment of the advances from consolidated entities 4,813,732 1,064,669 158 Proceeds from sale of investment assets 16,449,825 20,633,784 9,229,963 Payment for acquisition of investment assets (28,402,132 ) (9,440,542 ) (5,675,189 ) Other investing activities (697,316 ) (4,826,844 ) 5,543,944 Net cash generated from/(used in) investing activities (7,574,706 ) 5,868,243 8,175,694 Repayment for advances to consolidated entities (9,031,546 ) (17,114,012 ) (10,755,583 ) Receipts of advances from consolidated entities 16,096,040 9,774,001 4,617,000 Proceeds from borrowings 531,162 572,000 — Repayment of interest expenses and borrowings (275,959 ) (664,880 ) (436,274 ) Other financing activities — (474 ) (1,000 ) Net cash generated from/(used in) financing activities 7,319,697 (7,433,365 ) (6,575,857 ) Effect of exchange rate changes on cash and cash equivalents (14 ) (15 ) 21 Net increase/(decrease) in cash 429,535 (521,698 ) 1,545,403 Cash at the beginning of the year 996,523 1,426,058 904,360 Cash at the end of the year 1,426,058 904,360 2,449,763 (i) This represents the reclassification of certain cash flows that were considered as investing activities in the financial statements of consolidated entities and consolidated affiliated entities’ subsidiaries and as operating activities in the consolidated financial statements of the Group. As of December 31, 2021 and 2022, the total assets of Group’s Consolidated Affiliated Entities were mainly consisting of cash at bank, restricted cash, financial assets at fair value through profit or loss, financial assets at amortized cost, accounts and other receivables, deferred tax assets and other assets. The total liabilities were mainly consisting of payable to platform users, borrowings, accounts and other payables, payables to investors of consolidated structured entities and other liabilities. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Significant Accounting Policies | 3 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. 3.1 Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (“IFRS”) 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 and liabilities (including derivative instruments) at fair value through profit or loss, which are carried at fair value. 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 5 below. New and amended standards and interpretations adopted by the Group The Group has applied the following standards and amendments for the first time for its consolidated financial statements period commencing January 1, 2022: • Onerous Contracts – Cost of Fulfilling a Contract – Amendments to IAS 37 • Reference to the Conceptual Framework – Amendments to IFRS 3 • Property, Plant and Equipment: Proceeds before intended use – Amendments to IAS 16 • IFRS 9 Financial Instruments, IFRS 16 Leases, IAS 41 Agriculture – Annual Improvements to IFRS Standards 2018–2020 • Amendment to IFRS 16, ‘Leases’ – Covid-19 • IFRIC Agenda decision – Lessor forgiveness of lease payments (IFRS 9 and IFRS 16) The adoption of standards and amendments listed above did not have any impact on the amounts recognized in prior periods and are not expected to significantly affect the current or future periods. New and amended standards and interpretations not yet adopted by the Group Certain new accounting standards and interpretations have been published that are not mandatory for the year ended December 31, 2022 reporting periods and have not been early adopted by the Group. Effective for the annual IFRS 17 Insurance contracts January 1, 2023 Amendments to IAS 1 and IFRS Practice Statement 2 Disclosure of Accounting Policies January 1, 2023 Amendments to IAS 8 Definition of Accounting Estimates January 1, 2023 Amendments to IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction January 1, 2023 Amendment to IFRS 16 Leases on sale and leaseback January 1, 2024 Amendment to IAS 1 Non current liabilities with covenants January 1, 2024 Amendments to IAS 1 Classification of Liabilities as Current or Non-current January 1, 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 Group does not expect the adoption of these standards and interpretations will have a significant impact on the Group’s financial position or performance. 3.2 Principles of consolidation and equity accounting 3.2.1 Subsidiaries Subsidiaries are all entities (including consolidated structured entities as stated in Note 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. Investments in subsidiaries are accounted for using the equity method of accounting. The acquisition method of accounting is used to account for business combinations by the Group (refer to Note 3.4). Intra-group transactions, balances and unreleased gains on transactions between group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred assets. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. Non-controlling 3.2.2 Associates 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. 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 investments in associates include goodwill identified on acquisition, net of any accumulated impairment loss. Upon the acquisition of the ownership interest in an associate, any difference between the cost of the associate and the Group’s share of the net fair value of the associate’s identifiable assets and liabilities is accounted for as goodwill. If the ownership interest in an associate 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 statements of comprehensive income, and its share of post-acquisition movements in other comprehensive income is recognized in other comprehensive income or loss. The cumulative post-acquisition movements are adjusted against the carrying amount of the investment. When the Group’s share of losses in an associate equals or exceeds its interest in the associate, 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 associate. The Group determines at each reporting date whether there is any objective evidence that the investment in the associate is impaired. If this is the case, the Group calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value and recognizes the amount adjacent to ‘share of profit of investments accounted for using equity method’ in the consolidated statement of comprehensive income. Profits and losses resulting from upstream and downstream transactions between the Group and its associates are recognized in the Group’s financial statements only to the extent of unrelated investors interests in the associates. 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 associates are recognized in the consolidated statement of comprehensive income. 3.3 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 directly by means of contractual or related arrangements. The Group determines whether it is an agent or principal in relation to those structured entities in which the Group acts as an asset manager based on management’s judgment. If an asset manager is an agent, it acts primarily on behalf of others and so does not control the structured entity. It may be the principal if it acts primarily for itself, and therefore controls the structured entity. With respect to the Consolidated Affiliated Entities, the Group acts as a principal and the determination of the consolidation of the Consolidated Affiliated Entities is set out in Note 2. The unconsolidated structured entities to which the Group has exposure is set out in Note 4.3. 3.4 Business combination The Group applies the acquisition method to account for business combinations. The consideration transferred for the acquisition of a subsidiary is the fair value 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 acquisition-by-acquisition Non-controlling non-controlling 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 re-measurement 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 non-controlling 3.5 Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker, who is responsible for allocation of resources and assessing performance of the operating segments and make 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 as a whole. For the purpose of internal reporting and management’s operation review, management personnel operate a core retail credit and enablement business, consumer finance loan business and lujintong referral business. Due to materiality, the Group has only one reporting segment. In addition, the Group does not distinguish between markets or segments for the purpose of internal reporting. As the Group’s assets and liabilities are substantially all located in the PRC, substantially all revenues are earned and substantially all expenses are incurred in the PRC, and accordingly, no geographical segments are presented. 3.6 Foreign currency translation (i) 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 (“USD”). The RMB is the functional currency of the subsidiaries in the PRC. As the major operations of the Group are within the PRC, the Group determined to present its consolidated financial statement in RMB (unless otherwise stated). (ii) 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 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 gains/ (losses). Non-monetary non-monetary non-monetary (iii) Group companies The results and financial position of all foreign operations (none of which has the currency of a hyper- inflationary 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. 3.7 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, and 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. 3.8 Financial assets (i) Recognition The Group recognizes a financial asset or a financial liability in its statement of financial position when, and only when, it becomes a party to the contractual provisions of the instrument. 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 incremental and directly attributable to the acquisition or issue of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss. (ii) Classification and Measurement The Group classifies its financial assets in the following measurement categories, which depends on the Group’s business model for managing the financial assets and the contractual terms of the cash flows: • those to be measured at amortized cost (“AC”); • those to be measured at fair value through other comprehensive income (“FVOCI”); or • those to be measured at fair value through profit or loss (“FVPL”). The Group determines the classification of debt investments according to its business model and the contractual cash flow characteristics of the financial assets. The investments are classified as FVPL if the cash flows cannot pass solely payments of principal and interest on the principal amount testing. Otherwise, the classification depends on the business model. For investments in equity instruments, investments are classified as FVPL in general, except those designated as the equity investment at FVOCI. As of December 31, 2021 and 2022, the Group did not hold any financial assets measured as FVOCI. Debt instruments Debt instruments are those instruments that meet the definition of a financial liability from the issuer’s perspective, such as loans, government and corporate bonds. 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, and that are not designated at FVPL are measured at amortized cost. Interest income from these financial assets is included in interest income using the effective interest rate method. Any gain or loss arising from derecognition or impairment is recognized directly in profit or loss. Such assets held by the Group mainly include cash at bank, accounts and other receivables, financial assets at amortized cost, financial assets purchased under reverse repurchase agreements, and loans to customers. Purchased or originated credit-impaired financial assets (“POCI”) are those financial assets that are credit- impaired on initial recognition whose interest income is calculated by applying the effective interest rate to the net carrying amount of the financial asset. • 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, and that are not designated as FVPL are measured at FVOCI. Movements in the carrying amount are taken through other comprehensive income, except for the recognition of impairment gains or losses, interest revenue and foreign exchange gains and losses which are recognized in profit or loss. When the financial asset is derecognized, the cumulative gain or loss on the instrument’s amortized cost previously recognized in other comprehensive income is reclassified from equity to profit or loss. Interest income from these financial assets is included in interest income using the effective interest rate method. • FVPL: Assets that do not meet the criteria for amortized cost or FVOCI are measured at FVPL. The gains or losses arising from fair value changes on the debt investments measured at FVPL are recognized in profit or loss. Equity instruments The Group subsequently measures all equity instruments at fair value. Where the Group’s management has elected to present fair value gains and losses on equity instruments in OCI, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends representing a return on such equity instruments continue to be recognized in profit or loss when the Group’s right to receive payments is established. Financing guarantee contracts After initial recognition, an issuer of such a contract shall subsequently measure it at the higher of: • the amount of the loss allowance determined in accordance with Note 3.8(iii) and • the amount initially recognised less, when appropriate, the cumulative amount of income recognised in accordance with the principles of IFRS 15. (iii) Impairment Expected credit loss (“ECL”) 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 assesses on a forward-looking basis the expected credit losses associated with its debt instruments carried at amortized cost, with the exposure arising from loan commitments and financing guarantee contracts that are not in the scope of “Insurance Contracts”. A number of significant judgments are also required in applying the accounting requirements for measuring ECL, such as: • Choosing appropriate models and assumptions for the measurement of ECL including exposure at default (“EAD”), probability of default (“PD”), loss given default (“LGD”), etc. • Determining criteria for significant increase in credit risk; • Establishing the number and relative weightings of forward-looking scenarios for the associated ECL. For the financial instruments subject to ECL measurement, the Group assesses the significant increase in credit risk since initial recognition or whether an asset is considered to be credit impaired, “Three-stage” expected credit loss models are established and staging definition are set for each of these financial assets class. Incorporating forward-looking information, expected credit losses for financial assets are recognized in different stages. Stage 1: A financial instrument that is not credit-impaired on initial recognition is classified in “Stage 1” and has its credit risk continuously monitored by the Group. The impairment provision is measured at an amount equal to the 12-month Stage 2: If a significant increase in credit risk (“SICR”) since initial recognition is identified, the financial instrument is moved to “Stage 2” but is not yet deemed to be credit-impaired. The impairment provision is measured based on expected credit losses on a lifetime basis. Stage 3: If the financial instrument is credit-impaired, the financial instrument is then moved to “Stage 3”. The impairment provision is measured based on expected credit losses on a lifetime basis. For the financial instruments in Stage 1 and Stage 2, the Group calculates the interest income based on its gross carrying amount (i.e. amortized cost) before adjusting for impairment provision using the effective interest method. For the financial instruments in Stage 3, the interest income is calculated based on the carrying amount of the asset, net of the impairment provision, using the effective interest method. Financial assets that are originated or purchased credit impaired are financial assets that are impaired at the time of initial recognition, and the impairment provision for these assets is the expected credit loss for the entire lifetime. The Group recognizes or reverses the loss allowance through profit or loss. For debt instruments measured at FVOCI, impairment gains or losses are included in the net impairment losses on financial assets and corresponding by reducing the accumulated changes in fair value included in the OCI reserve of equity. For account receivables, the Group refers to historical experience of credit loss, combined with current situation and forward-looking information, to formulate the lifetime expected credit loss of the financial assets. (iv) Derecognition Financial assets are derecognized if one of the following criteria are met: • the contractual rights to receive the cash flows from the financial assets have expired; • they have been transferred and the Group transfers substantially all the risks and rewards of ownership; • they have been transferred and the Group neither transfers nor retains substantially all the risks and rewards of ownership and the Group has not retained control. When the equity financial assets measured at FVOCI are derecognized, the cumulative gain or loss previously recognized in OCI is reclassified from equity directly to retained earnings. When the other financial assets are derecognized, the cumulative gain or loss previously recognized in OCI is reclassified from equity to profit or loss. Financial assets (and the related impairment allowances) are normally written off, either partially or in full, when there is no realistic prospect of recovery. Where loans to customers and receivables arising from default guarantee payments are secured, the write-off 3.9 Financial liabilities At initial recognition, the Group classifies a financial liability as fair value through profit or loss or other financial liabilities. The Group measures a financial liability at its fair value plus, in the case of a financial liability not at fair value through profit or loss, transaction costs that are incremental and directly attributable to the acquisition or issue of the financial liability. Transaction costs of financial liabilities carried at FVPL are expensed in profit or loss. When all or part of the current obligations of a financial liability have been discharged, the Group derecognizes the portion of the financial liability or obligation that has been discharged. The difference between the carrying amount of the derecognized liability and the consideration is recognized in profit or loss. The exchange between the Group and its original lenders of debt instruments with substantially different terms, as well as substantial modifications of the terms of existing financial liabilities, are accounted for as an extinguishment of the original financial liability and the recognition of a new financial liability. The terms are substantially different if the discounted present value of the cash flows under the new terms, including any fees paid net of any fees received and discounted using the original effective interest rate, is more than 10% different from the discounted present value of the remaining cash flows of the original financial liability. In addition, other qualitative factors, such as the currency that the instrument is denominated in, changes in the type of interest rate, new conversion features attached to the instrument and change in covenants are also taken into consideration. If an exchange of debt instruments or modification of terms is accounted for as an extinguishment, any costs or fees incurred are recognised as part of the gain or loss on the extinguishment. If the exchange or modification is not accounted for as an extinguishment, any costs or fees incurred adjust the carrying amount of the liability and are amortised over the remaining term of the modified liability. (i) Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss include financial liabilities held for trading and other financial liabilities designated as such at initial recognition. Financial liabilities held for trading are the financial liabilities that: • are incurred principally for the purpose of repurchasing it in the near term; • on initial recognition are part of a portfolio of identified financial instruments that are managed together and for which there is evidence of a recent actual pattern of short-term profit-taking; or • are derivatives (except for a derivative that is a designated and effective hedging instrument or a financing guarantee contract). Such financial liabilities held for trading are subsequently measured at fair value. All the related realized and unrealized gains/(losses) are recognized in profit/(loss) in the current year. The Group may, at initial recognition, designate a financial liability as measured at fair value through profit or loss when one of the following criteria is met: • it eliminates or significantly reduces a measurement or recognition inconsistency that would otherwise arise from measuring assets or liabilities or recognizing the gains and losses on them on different bases; or • a group of financial liabilities or financial assets and financial liabilities is managed and its performance is evaluated on a fair value basis, in accordance with a documented risk management or investment strategy, and information about the group is provided internally on that basis to the entity’s key management personnel; or • a contract contains one or more embedded derivatives, with the host being not an asset within the scope of IFRS 9, and the embedded derivative(s) do(es) significantly modify the cash flows. Once designated as fair value through profit or loss at initial recognition, the financial liabilities may not be reclassified to other financial liabilities in subsequent periods. Financial liabilities designated at FVPL are subsequently measured at fair value. Any changes in fair value are recognized in profit or loss, except for changes in fair value arising from changes in the Group’s own credit risk which are recognized in the OCI. Changes in fair value due to changes in the Group’s own credit risk are not subsequently reclassified to profit or loss upon derecognition of the liabilities. As of December 1 3.10 Determination of fair value The fair value of a financial instrument that is traded in an active market is determined by reference to quoted market bid prices for assets and offer prices for liabilities, at the close of business at the end of the reporting period. If quoted market prices are not available, reference can also be made to broker or dealer price quotations. For financial instruments where there is no active market, the fair value is determined by using valuation techniques. Such techniques should be appropriate in the circumstances for which sufficient data is available, and the inputs should be consistent with the objective of estimating the price at which an orderly transaction to sell the asset or to transfer the liability would take place between market participants at the measurement date under current market conditions, and maximize the use of relevant observable inputs and minimize the use of unobservable inputs. Such techniques include using recent prices in arm’s length transactions, reference to the current market value of another instrument which is substantially the same, discounted cash flow analysis and/or option pricing models. For discounted cash flow techniques, estimated future cash flows are based on management’s best estimates and the discount rate used is a market related rate for similar instruments. Certain financial instruments, including derivative financial instruments, are valued using pricing models that consider, among other factors, contractual and market prices, correlation, time value of money, credit risk, yield curve volatility factors and/or prepayment rates of the underlying positions. The use of different pricing models and assumptions could produce materially different estimates of fair values. Determining whether to classify financial instruments into level 3 of the fair value hierarchy is generally based on the significance of the unobservable factors involved in valuation methodologies. 3.11 Offsetting financial instruments Financial assets and liabilities are offset and the net amount is reported in the consolidated statements of financial position when there is an unconditional and legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis, or realize the assets and settle the liabilities 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. 3.12 Intangible assets (i) Trademarks and licenses Trademarks and licenses acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is the fair value as of the date of acquisition. The useful lives of intangible assets are assessed to be either finite or indefinite. Intangible assets with finite lives are subsequently amortized on the straight-line basis over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at each financial year end. Trademarks and licenses with indefinite useful lives are tested for impairment annually either individually or at the cash-generating unit level. Such intangible assets are not amortized. The useful life of an intangible asset with an indefinite life is reviewed annually to determine whether the indefinite life assessment continues to be supportable. If not, the change in the useful life assessment from indefinite to finite is accounted for on a prospective basis. (ii) Computer software Costs associated with maintaining computer software programs are recognized as an expense as incurred. Development costs that are directly attributable to the design and testing of identifiable and unique software products controlled by the Group are recognized as intangible assets when the following criteria are met: • it is technically feasible to complete the software so that it will be available for use; • management intends to complete the software and use or sell it; • there is an ability to use or sell the software; • it can be demonstrated how the software will generate probable future economic benefits; • adequate technical, financial and other resources to complete the development and to use or sell the software are available; and • the expenditure attributable to the software during its development can be reliably measured. Directly attributable costs that are capitalized as part of the software include employee costs 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 intangi |
Financial Instruments And Risks
Financial Instruments And Risks | 12 Months Ended |
Dec. 31, 2022 | |
Financial Instruments And Risks [Abstract] | |
Financial instruments and risks | 4 Financial instruments and risks The Group’s activities expose it to a variety of market risks (comprising foreign 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. 4.1 Financial risk factors 4.1.1 Market risk Market risk is the risk of changes in fair value of financial instruments and future cash flows from fluctuation of market prices, which includes two types of risks from volatility of foreign exchange rates (foreign currency risk), and market interest rates (interest rate risk). (a) Foreign 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 major 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 subsidiaries denominated in RMB. The Group has entered into spot-forward USD/RMB currency swaps to manage its exposure to foreign currency risk arising from loans to subsidiaries dominated in RMB. The subsidiaries of the Group are mainly operating in mainland China with most of the transactions denominated in RMB. The Group considers that 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 RMB. The table below illustrates the impact of an appreciation or depreciation of RMB spot and forward rates against USD by 5% on the Group’s profit before income tax expenses. As of December 31, 2021 2022 RMB’000 RMB’000 5% appreciation of RMB 699,049 (124,798 ) 5% depreciation of RMB (699,049 ) 124,798 (b) Interest rate risk Interest rate risk is the risk that the fair value/future cash flows of a financial instrument will fluctuate because of changes in market interest rates. Interest on floating rate instruments is repriced at intervals of one year or less. Interest on fixed interest rate instruments is priced at inception of the financial instruments and is fixed until maturity. Floating rate instruments expose the Group to cash flow interest rate risk, whereas fixed rate instruments expose the Group to fair value interest risk. The Group’s interest rate risk mainly arises from fixed rate instruments including cash at bank, accounts and other receivables and contract assets, loans to customers, accounts and other payables and contract liabilities, etc. The Group’s interest rate risk policy requires it to manage interest rate risk by managing the maturities of interest-bearing financial assets and interest-bearing financial liabilities. The following table sets out the Group’s financial assets and financial liabilities exposed to interest rate risk by repricing date, contractual maturity date or expected maturity date (whichever is the earlier): As of December 31, 2021 Less than 3 months 3 months to 1 year 1-2 2-3 More than 3 years Overdue No interest Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 ASSETS Cash at bank 29,263,128 70,579 363,691 1,538,551 3,507,239 — — 34,743,188 Restricted cash 27,792,006 554,499 1,786,219 306,371 14,444 — — 30,453,539 Financial assets at fair value through profit or loss 12,544,935 3,459,334 919,458 262,969 — 1,164,095 12,672,420 31,023,211 Financial assets at amortized cost 1,168,502 500,740 920,815 107,676 — 1,086,880 — 3,784,613 Financial assets purchased under reverse repurchase agreements 5,527,177 — — — — — — 5,527,177 Accounts and other receivables and contract assets — — — — — — 22,344,773 22,344,773 Loans to customers 51,563,466 98,295,888 51,345,667 11,182,096 1,002 2,583,991 — 214,972,110 Total financial assets 127,859,214 102,881,040 55,335,850 13,397,663 3,522,685 4,834,966 35,017,193 342,848,611 As of December 31, 2021 Less than 3 months 3 months to 1 year 1-2 2-3 More than 3 years Overdue No interest Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 LIABILITIES Payable to platform investors — — — — — — 2,747,891 2,747,891 Borrowings 13,074,069 12,853,348 — — — — — 25,927,417 Accounts and other payables and contract liabilities — — — — — — 8,814,255 8,814,255 Payable to investors of consolidated structured entities 46,086,474 95,848,045 48,048,309 5,463,312 — — — 195,446,140 Financing guarantee liabilities — — — — — — 2,697,109 2,697,109 Lease liabilities 141,719 322,317 238,250 83,166 9,092 — — 794,544 Convertible promissory note payable — — 10,669,498 — — — — 10,669,498 Optionally convertible promissory notes — — 7,405,103 — — — — 7,405,103 Total financial liabilities 59,302,262 109,023,710 66,361,160 5,546,478 9,092 — 14,259,255 254,501,957 Nominal amount of interest rate swap (8,224,653 ) — 8,224,653 — — — — — Total interest rate sensitivity gap 76,781,605 (6,142,670 ) (19,249,963 ) 7,851,185 3,513,593 4,834,966 20,757,938 88,346,654 As of December 31, 2022 Less than 3 months 3 months to 1-2 2-3 More than 3 years Overdue No interest Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 ASSETS Cash at bank 33,218,805 42,142 1,602,690 3,490,181 5,528,309 — — 43,882,127 Restricted cash 24,333,782 1,544,978 482,037 147,478 356 — — 26,508,631 Financial assets at fair value through profit or loss 7,128,410 1,131,041 313,221 — — 2,454,227 18,062,548 29,089,447 Financial assets at amortized cost 2,502,673 647,026 112,128 856,808 — 597,813 — 4,716,448 Accounts and other receivables and contract assets — — — — — — 15,758,135 15,758,135 Loans to customers 51,150,197 95,812,445 49,552,823 9,616,373 158,248 5,156,559 — 211,446,645 Total financial assets 118,333,867 99,177,632 52,062,899 14,110,840 5,686,913 8,208,599 33,820,683 331,401,433 As of December 31, 2022 Less than 3 months 3 months to 1-2 2-3 More than 3 years Overdue No interest Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 LIABILITIES Payable to platform investors — — — — — — 1,569,367 1,569,367 Borrowings 9,086,732 27,828,781 — — — — — 36,915,513 Bond payable — 2,143,348 — — — — — 2,143,348 Accounts and other payables and contract liabilities 3,745,929 — — — — — 5,385,010 9,130,939 Payable to investors of consolidated structured entities 42,664,737 86,300,977 44,005,269 4,111,964 64,779 — — 177,147,726 Financing guarantee liabilities — — — — — — 5,763,369 5,763,369 Lease liabilities 126,034 294,856 253,475 67,629 6,813 — — 748,807 Convertible promissory note payable — — — — 5,164,139 — — 5,164,139 Optionally convertible promissory notes — 8,142,908 — — — — — 8,142,908 Total financial liabilities 55,623,432 124,710,870 44,258,744 4,179,593 5,235,731 — 12,717,746 246,726,116 Nominal amount of interest rate swap (8,984,334 ) 8,984,334 — — — — — — Total interest rate sensitivity gap 71,694,769 (34,517,572 ) 7,804,155 9,931,247 451,182 8,208,599 21,102,937 84,675,317 The Group performs interest rate sensitivity analysis on profit for the Group by measuring the impact of a change in interest rate of financial assets, liabilities and interest rate derivative instruments. The table below illustrates the impact to profit before tax of the coming year as of each reporting date based on the structure of interest-bearing assets, liabilities and interest rate derivative instruments as of December 31, 2021 and 2022, caused by a parallel shift of 100 basis points in interest rates. As of December 31, 2021 2022 RMB’000 RMB’000 Change in interest rate -100 basis points (648,804 ) (497,888 ) +100 basis points 648,804 497,888 In the sensitivity analysis, the Group adopts the following assumptions when determining business conditions and financial index: • The fluctuation rates of different interest-bearing assets and liabilities are the same; • All assets and liabilities are re-priced • Analysis is based on static gap on reporting date, regardless of subsequent changes; • No consideration of impact on customers’ behavior resulting from interest rate changes; • No consideration of impact on market price resulting from interest rate changes; • No consideration of actions taken by the Group. Therefore, the actual changes of net profit may differ from the analysis above. 4.1.2 Credit risk Credit risks refer to the risk of losses incurred by the inabilities of debtors or counterparties to fulfill their contractual obligations or by the adverse changes in their credit conditions. The Group is exposed to credit risks primarily associated with its deposit arrangements with commercial banks, financial assets at fair value through profit or loss, accounts and other receivables, loans to customers, etc. The Group uses a variety of controls to identify, measure, monitor and report credit risk. Credit risk management The Group’s financial assets at fair value through profit or loss mainly include trust products, wealth management products, asset management plans and other equity investments. The Group executes due diligence, assesses counterparties’ qualification and manages credit risks of existing investments. The Group has formulated a complete set of credit management processes and internal control mechanisms, so as to carry out whole process management of credit business. Credit management procedures for its retail loans comprise the processes of credit origination, credit review, credit approval, disbursement, post-disbursement monitoring and collection. Risks arising from financing guarantee contracts and loan commitments are similar to those associated with loans. Transactions of financing guarantee contracts and loan commitments are, therefore, subject to the same portfolio management and the same requirements for application and collateral as loans to customers. To those accounts and other receivables and contract assets, there are policies to control the credit risk exposures. The Group evaluates the possibility of guarantee from third parties, credit record and other factors such as current market condition. The Group monitors customer credit records at regular intervals, and takes action such as official notifications, shortening credit periods or canceling credit periods etc. to ensure the Group’s credit risk remains under control when the customers with bad credit records are identified. Credit exposure Without taking collateral and other credit enhancements into consideration, for on-balance As of December 31, 2021 2022 RMB’000 RMB’000 On-balance Cash at bank 34,743,188 43,882,127 Restricted cash 30,453,539 26,508,631 Financial assets at fair value through profit or loss 31,023,211 29,089,447 Financial assets at amortized cost 3,784,613 4,716,448 Financial assets purchased under reverse repurchase agreements 5,527,177 — Accounts and other receivables and contract assets 22,344,773 15,758,135 Loans to customers 214,972,110 211,446,645 342,848,611 331,401,433 Off-balance Financing guarantee contracts 64,731,369 68,502,938 Collateral and other credit enhancements The amount and type of collateral required depends on an assessment of the credit risk of the counterparty. Guidelines are implemented regarding the types of collateral and the valuation parameters. The collateral obtained are typically residential properties. Management monitors the market value of the collateral, adjusts credit limits when needed and performs an impairment valuation when applicable. It is the Group’s policy to dispose of repossessed properties in an orderly fashion. The proceeds are used to reduce or repay the outstanding balance. In general, the Group does not occupy repossessed properties for business use. Expected credit loss Credit risk measurement The estimation of credit exposure for risk management purposes is complex and requires the use of models, as the exposure varies with changes in market conditions, expected cash flows and the passage of time. The assessment of credit risk of a portfolio of assets entails further estimations as to the likelihood of defaults occurring, of the associated loss ratios and of default correlations between counterparties. The Group measures credit risk using PD, EAD and LGD. This is similar to the approach used for the purposes of measuring ECL under IFRS 9. Measurement of ECL IFRS 9 outlines a ‘three-stage’ model for impairment based on changes in credit quality since initial recognition as summarized below: • A financial instrument that is not credit-impaired on initial recognition is classified in ‘Stage 1’ and has its credit risk continuously monitored by the Group. • If a significant increase in credit risk (‘SICR’) since initial recognition is identified, the financial instrument is moved to ‘Stage 2’ but is not yet deemed to be credit-impaired. • If the financial instrument is credit-impaired, the financial instrument is then moved to ‘Stage 3’. Financial instruments in Stage 1 have their ECL measured at an amount equal to the portion of lifetime ECL that result from default events possible within the next 12 months. Instruments in Stages 2 or 3 have their ECL measured based on ECL on a lifetime basis. • A pervasive concept in measuring ECL in accordance with IFRS 9 is that it should consider forward- looking information. POCI are those financial assets that are credit- impaired on initial recognition. Their ECL is always measured on a lifetime basis. The following diagram summarizes the impairment requirements under IFRS 9 (other than POCI). Change in credit quality since initial recognition Stage 1 Stage 2 Stage 3 (Initial recognition) (Significant increase in credit risk since initial recognition) (Credit-impaired assets) 12-month Lifetime ECL Lifetime ECL The key judgments and assumptions adopted by the Group in addressing the requirements of the standard are discussed below: (a) Significant increase in credit risk (SICR) For loans to customers, the Group considers a loan to have experienced a significant increase in credit risk if the borrower is overdue 30 days or above on its contractual payments. No qualitative criteria is considered by the Group since the Group monitors the risk of borrowers purely based on the overdue period. For other financial assets measured at amortized cost, the Group sets quantitative and qualitative criteria to judge if there is significant increase in credit risk, and the criteria include: overdue 30 days or above, the forward-looking information and various reasonable supporting information, when determining the ECL staging for financial assets. The criteria used to identify SICR are monitored and reviewed periodically for appropriateness by the credit risk team. (b) Definition of default and credit-impaired assets For loans to customers, the Group defines a financial instrument as in default, which is fully aligned with the definition of credit-impaired if the borrower is more than 90 days (including 90 days) past due on its contractual payments. No qualitative criteria is considered by the Group since the Group monitors the risk of borrowers purely based on the overdue period. For other financial assets measured at amortized cost, the Group sets quantitative and qualitative criteria to define as in default, and the criteria include: overdue for more than 90 days (including 90 days) and various reasonable supporting information. The criteria above are consistent with the definition of default used for internal credit risk management purposes. The default definition has been applied consistently to model the PD, EAD and LGD throughout the Group’s expected loss calculations. (c) Measuring ECL – Explanation of inputs, assumptions and estimation techniques The ECL is measured on either a 12-month • PD represents the likelihood of a borrower defaulting on its financial obligation (as mentioned in “Definition of default and credit-impaired assets” above), either over the next 12 months (“12M PD”), or over the remaining lifetime (“Lifetime PD”) of the obligation. • LGD represents the Group’s expectation of the extent of loss on a defaulted exposure. LGD varies by type and availability of collateral or other credit support. LGD is expressed as a percentage loss per unit of exposure at the time of default. • EAD is based on the amounts the Group expects to be owed at the time of default, over the next 12 months (“12M EAD”) or over the remaining lifetime (“Lifetime EAD”). For example, for a revolving commitment, the Group includes the current drawn balance plus any further amount that is expected to be drawn up to the current contractual limit by the time of default, should it occur. The ECL is determined by projecting the PD, LGD and EAD for each future month and for each individual exposure or collective segment. These three components are multiplied together and adjusted for the likelihood of survival (i.e. the exposure has not prepaid or defaulted in an earlier month). The 12-month The 12-month 12-month The 12-month Forward-looking economic information is included in determining the 12-month There have been no significant changes in estimation techniques during the years ended December 31, 2020, 2021 and 2022. (d) Forward-looking information incorporated in the ECL models The Group has developed macro-economic 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 gross domestic product (GDP), customer price index (CPI), broad measure of money supply (M1) and other macro-economic variables. Through regression analysis, the relationship among these economic indicators in history with PD is determined, and PD then determined through forecasting economic indicators. The forecasting methods and critical assumptions applied had no material changes during the years ended December 31, 2020, 2021 and 2022. The impact of these economic indicators on PD varies to different businesses. The Group comprehensively considers internal and external data, future forecasts and statistical analysis to determine the relationship between these economic indicators with PD. The Group evaluates and forecasts these economic indicators at least annually at balance sheet date, and regularly evaluates the results based on changes in macroeconomics. The Group considered different macroeconomic scenarios. As of December 31, 2021 and 2022, the key macroeconomic assumptions used to estimate expected credit losses are listed below. As of December 31, 2021 2022 GDP – year on year percentage change 5.0%-6.2% 3.8%-5.5% CPI – year on year percentage change 2.3%-2.6% 2.0%-2.4% Broad measure of money supply (M1) – year on year percentage change 8.1%-9.1% 7.3%-8.6% Similar to other economic forecasts, the forecasts of economic indicators have high inherent uncertainties and therefore actual results maybe significantly different from the forecasts. The Group considered above forecasts as its best estimate as of December 31, 2021 and 2022. Sensitivity analysis Expected credit losses are sensitive to the parameters used in the model, the macro-economic variables of the forward-looking forecast, the weight probabilities in the three scenarios, and other factors considered in the application of expert judgment. Changes in these input parameters, assumptions, models, and judgments will have an impact on the measurement of expected credit losses. The Group has the highest weight of the base scenario. The loans to customers and financing guarantee contracts assumed that if the weight of the upside scenario increased by 10% and the weight of the base scenario reduced by 10%, the Group’s ECL impairment provision as of December 31, 2020, 2021 and 2022 would be reduced by RMB5 million and RMB15 million and RMB62 million, respectively; if the weight of the downside scenario increased by 10% and the weight of the base scenarios reduced by 10%, the Group’s ECL impairment provision as of December 31, 2020, 2021 and 2022 would be increased by RMB6 million and RMB32 million and RMB123 million, respectively. The following table shows the changes of ECL impairment provision on loans to customers and financing guarantee liabilities related to ECL assuming the financial assets in stage 2 reclassified to stage 1 due to significant improvement in credit risk. As of December 31, 2021 2022 RMB’000 RMB’000 Total ECL and financing guarantee liabilities under assumption of reclassification of financial instruments from stage 2 to stage 1 4,897,881 10,479,472 Total ECL and financing guarantee liabilities related to ECL recognized in the consolidated balance sheet 5,450,980 12,826,347 Difference-amount (553,099 ) (2,346,875 ) Difference-ratio -10 % -18 % Maximum exposure to credit risk before collateral held or other credit enhancements The following presents the credit risk exposure of the financial instruments under the scope of expected credit loss mentioned in measurement of ECL without considering guarantee or any other credit enhancement measures: As of December 31, 2021 Stage I Stage II Stage III POCI Maximum (in RMB’000) Book value On-balance Financial assets at amortized cost 2,697,852 — 584,739 502,022 3,784,613 Loans to customers 213,665,161 1,263,965 42,984 — 214,972,110 Total 216,363,013 1,263,965 627,723 502,022 218,756,723 Off-balance Financing guarantee contracts 64,416,918 314,451 — — 64,731,369 As of December 31, 2022 Stage I Stage II Stage III POCI Maximum (in RMB’000) Book value On-balance Financial assets at amortized cost 4,118,635 — 281,531 316,282 4,716,448 Loans to customers 208,609,176 2,763,586 73,883 — 211,446,645 Total 212,727,811 2,763,586 355,414 316,282 216,163,093 Off-balance Financing guarantee contracts 67,011,692 1,491,246 — — 68,502,938 For other on-balance 4.1.3 Liquidity risk Liquidity risk is the risk of not having access to sufficient funds or being unable to liquidate a position in a timely manner at a reasonable price to meet the Group’s obligations as they become due. The Group aims to maintain sufficient cash at bank and marketable securities. Due to the dynamic nature of the underlying businesses, the Group maintains flexibility in funding by maintaining adequate cash at bank. The following table 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 or expected maturity date. The amounts disclosed in the table are undiscounted contractual or expected cash flows including interest payments computed using contractual rates, or, if floating, based on current rates, and interests with financial liabilities denominated in foreign currencies translated into RMB using the spot rate as of balance sheet date: As of December 31, 2021 Repayable Within 1 year 1 to 2 years 2 to 3 years Over 3 years Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Financial liabilities - Payable to platform investors 2,747,891 — — — — 2,747,891 Borrowings — 16,717,997 9,628,462 — — 26,346,459 Accounts and other payables and contract liabilities 8,814,255 — — — — 8,814,255 Payable to investors of consolidated structured entities 45,628 148,079,478 49,505,033 5,570,774 — 203,200,913 Financing guarantee liabilities 64,731,369 — — — — 64,731,369 Lease liabilities — 484,497 248,770 85,180 9,329 827,776 Convertible promissory note payable — 91,869 12,502,777 — — 12,594,646 Optionally convertible promissory notes — 442,840 7,823,510 — — 8,266,350 76,339,143 165,816,681 79,708,552 5,655,954 9,329 327,529,659 As of December 31, 2022 Repayable Within 1 year 1 to 2 years 2 to 3 years Over 3 years Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Financial liabilities - Payable to platform investors 1,569,367 — — — — 1,569,367 Borrowings — 37,506,884 — — — 37,506,884 Bond payable — 2,209,274 — — — 2,209,274 Accounts and other payables and contract liabilities 5,385,010 3,745,929 — — — 9,130,939 Payable to investors of consolidated structured entities 47,351 133,933,056 45,293,609 4,182,362 65,607 183,521,985 Financing guarantee liabilities 68,502,938 — — — — 68,502,938 Lease liabilities — 462,785 247,494 67,737 6,819 784,835 Convertible promissory note payable — 50,177 50,177 50,177 6,867,555 7,018,086 Optionally convertible promissory notes — 8,546,138 — — — 8,546,138 75,504,666 186,454,243 45,591,280 4,300,276 6,939,981 318,790,446 4.2 Capital management The Group’s capital requirements are primarily dependent on the scale and the type of business that it undertakes, as well as the industry and geographic location in which it operates. The primary objectives of the Group’s capital management are: • To comply with the capital requirements set by the regulators of the markets where the Group operates. • To safeguard the Group’s ability to continue as a going concern and to maintain healthy capital ratios in order to support its business and to maximize shareholders’ value. • To maintain a strong capital base to support the development of its business. The Group adopts administrative measures issued by the regulators of subsidiaries with financial licenses. To meet these requirements, the Group monitor its capital adequacy ratio and the usage of regulatory capital on a quarterly basis and operate and manage assets at all levels in accordance with the provisions of these measures. The Group monitors capital by regularly reviewing the total equity attributable to owners’ of the Company. Adjustments to current capital structure are made in light of changes in economic conditions and risk characteristics of the Group’s activities. In order to maintain or adjust the capital structure, the Group may adjust the amount of dividends paid, return capital to ordinary shareholders or issue capital securities. 4.3 Group’s maximum exposure to structured entities The Group uses structured entities in the normal course of business for a number of purposes, for example, structured transactions for customers, to provide finance to public and private sector infrastructure projects, and to generate fees from managing assets on behalf of third-party investors. These structured entities are financed through the issue of notes or units to investors. Refer to Note 2 and Note 5.7 for the Group’s consolidation consideration related to structured entities. The following table shows the Group’s maximum exposure to the unconsolidated structured entities representing the Group’s maximum possible risk exposure that could occur as a result of the Group’s arrangements with structured entities. The maximum exposure of the Group in these unconsolidated structure entities is contingent in nature and approximates the sum of accounts receivables from unconsolidated structure entities and direct investments made by the Group. As of December 31, 2021 (In RMB’000) Size Carrying Group’s Interest held by Unconsolidated structured products managed by third parties (a) NA 8,661,387 8,661,387 Investment income Unconsolidated structured products managed by affiliated entities (a) NA 12,219,226 12,219,226 Investment income Unconsolidated structured products serviced by the Group. 18,178,437 — 1,428,320 Service fees As of December 31, 2022 (In RMB’000) Size Carrying amount Group’s Interest held by Unconsolidated structured products managed by third parties (a) NA 17,312,195 17,312,195 Investment income Unconsolidated structured products managed by affiliated entities (a) NA 8,321,066 8,321,066 Investment income Unconsolidated structured products serviced by the Group. 2,581,999 — 1,849,897 Service fee These unconsolidated structured products mainly include asset management plans, trust plans, mutual funds, private fund and bank wealth management products which are all classified as financial assets at amortized cost or financial assets at fair value through profit or loss. (a) The information in relation to the size of these unconsolidated structured products is not available from open market. 4.4 Fair value estimation The Group’s main financial instruments carried at fair value are financial assets at fair value through profit or loss. The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation techniques: Level 1: Quoted (unadjusted) prices in active markets for identical assets or liabilities. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer, broker, industry group, pricing service, or regulatory agency, and those prices represent actual and regularly occurring market transactions on an arm’s length basis. The primary quoted market price used for financial assets held by the Group is net asset value at daily basis. Financial instruments included in Level 1 comprise primarily equity investments, fund investments and bond investments traded on stock exchanges and open-ended mutual funds. Level 2: Valuation techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly (such as price) or indirectly (such as calculated based on price). These valuation techniques maximize the use of observable market data where it is available and rely as little as possible on entity specific estimates. Level 3: Other valuation techniques which use any inputs which have a significant effect on the recorded fair value that are not based on observable market data (unobservable inputs). The level of fair value calculation is determined by the lowest level input with material significance in the overall calculation. As such, the significance of the input should be considered from an overall perspective in the calculation of fair value. Valuation methods for Level 2 and Level 3 financial instruments: 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, analyze 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, fair value is determined using valuation methodologies such as discounted cash flow models and other similar techniques. One of significant inputs used in these valuation techniques is generally unobservable. The following table sets forth the financial instruments recorded at fair value by level of the fair value hierarchy: As of December 31, 2021 Level 1 Level 2 Level 3 Total RMB’000 RMB’000 RMB’000 RMB’000 Unlisted Securities Asset management plans — 7,802,270 505,503 8,307,773 Trust plans — 2,448,373 603,716 3,052,089 Private fund and other equity investments — 2,765,016 — 2,765,016 Mutual funds 2,486,541 — — 2,486,541 Corporate bonds — 3,017,849 47,023 3,064,872 Bank wealth management products — 4,589,101 — 4,589,101 Structured deposits — 6,640,977 — 6,640,977 Others debt investments — — 108,991 108,991 Listed Securities Stock 7,851 — — 7,851 Derivative instruments Interest rate swap — 38,403 — 38,403 Foreign currency swap — (25,772 ) — (25,772 ) Total 2,494,392 27,276,217 1,265,233 31,035,842 As of December 31, 2022 Level 1 Level 2 Level 3 Total RMB’000 RMB’000 RMB’000 RMB’000 Unlisted Securities Asset management plans — 4,667,559 342,154 5,009,713 Trust plans — 3,268,709 621,840 3,890,549 Private fund and other equity investments — 1,603,219 440,832 2,044,051 Mutual funds 7,125,498 — — 7,125,498 Corporate bonds — — 46,435 46,435 Bank wealth management products — 7,563,450 — 7,563,450 Structured deposits — 2,406,785 — 2,406,785 Others debt investments — — 1,002,966 1,002,966 Derivative instruments Interest rate swap — 222,086 — 222,086 Foreign currency swap — 225,357 — 225,357 Total 7,125,498 19,957,165 2,454,227 29,536,890 There were no changes in valuation techniques during the period. The following table presents the changes in level 3 instruments for the years ended December 31, 2020, 2021 and 2022: Year ended December 31, 2020 2021 2022 Financial assets at fair value through profit or loss RMB’000 RMB’000 RMB’000 As of beginning of the year 2,842,839 1,266,495 1,265,233 Additions — |
Critical Accounting Estimates a
Critical Accounting Estimates and Judgments | 12 Months Ended |
Dec. 31, 2022 | |
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Critical Accounting Estimates and Judgments | 5 Critical accounting estimates and judgments The Group makes estimates and judgments that affect the reported amounts of revenues, expenses, assets and liabilities and the disclosure of contingent 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 significant effect on the amounts recognized in the financial statements. 5.1 Goodwill impairment assessment The Group tests annually whether goodwill has suffered any impairment. The recoverable amount of cash generating units and groups of cash generating units is the higher of value-in-use pre-tax pre-tax pre-tax 5.2 Recognition of loan enablement service fees and post-origination service fees The Group recognizes loan enablement and post origination service fees by allocating total consideration to be received during the performance of borrowing period to different performance obligations. The Group estimates total consideration to be received by considering early termination scenarios. From time to time, the Group reviews actual early termination data observed and adjusts the early termination assumptions used in revenue recognition to reflect management’s best estimate. The Group considers the upfront loan enablement services and post loan enablement services as distinct performance obligations. However, the Group does not provide these services separately, and the third-party evidence of selling price does not exist either, as public information is not available regarding the amount of fees competitors charge for these services. As a result, the Group uses the expected-cost-plus-a-margin 5.3 Income taxes The Group is subject to income taxes in the PRC and other jurisdictions. Significant judgment is required in determining the provision for income taxes in each of these jurisdictions. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact the current and deferred tax assets and liabilities in the period in which such determination is made. Deferred tax assets relating to certain temporary differences and tax losses are recognized when management considers it is probable that future taxable profits will be available against which the temporary differences or tax losses can be utilized. When the expectation is different from the original estimate, such differences will impact the recognition of deferred tax assets and taxation charges in the period in which such estimate is changed. 5.4 Classification of financial instruments The judgments in determining the classification of financial assets include the analysis of business models and the characteristics of contractual cash flows. An entity’s business model refers to how an entity manages its financial assets in order to generate cash flows. That is, the entity’s business model determines whether cash flows will result from collecting contractual cash flows, selling financial assets or both. It is typically observable through the activities that the entity undertakes to achieve the objective of the business model. An entity will need to use judgment when it assesses its business model for managing financial assets and that assessment is not determined by a single factor or activity. Instead, the entity must consider all relevant evidence that is available at the date of the assessment. The contractual cash flow characteristics of financial assets refer to the cash flow attributes agreed on in the financial asset contract and reflect the economic characteristics of the relevant financial assets, that is, the contractual cash flows generated by the relevant financial assets on a specified date solely represents the payments of principal and interest. The principal amount refers to the fair value of the financial asset at initial recognition, which may change during the duration of the financial asset due to reasons such as early repayment. Interest includes the time value of money, credit risk related to the amount of outstanding principal in a particular period, and consideration of other basic borrowing risks, costs and profits. 5.5 Fair value of financial instruments determined using valuation techniques Fair value, in the absence of an active market, is estimated by using valuation techniques, applying currently applicable and sufficiently available data, and the valuation techniques supported by other information, which mainly include market approach and income approach, reference to the recent arm’s length transactions, current market value of another instrument which is substantially the same, and by using the discounted cash flow analysis and option pricing models. When using valuation techniques to determine the fair value of financial instruments, the Group would choose inputs consistent with market participants, considering transactions of related assets and liabilities. All related observable market parameters are considered in priority, including interest rate, foreign exchange rate, commodity prices, and share prices or index. When related observable parameters are unavailable or inaccessible, the Group uses unobservable parameters and makes estimates for credit risk, market volatility, and liquidity adjustments. Using different valuation techniques and parameter assumptions may lead to significant differences of fair value estimations. 5.6 Measurement of the expected credit losses The measurement of the expected credit losses for financial assets measured at amortized cost and financing guarantee contracts is an area that requires the use of complex models and significant assumptions about future economic conditions and credit behavior. Explanation of the inputs, assumptions and estimation techniques used in measuring ECL is further detailed in Note 4.1.2. A number of significant judgments are also required in applying the accounting requirements for measuring ECL, such as: • Determining criteria for significant increase in credit risk; • Choosing appropriate models and assumptions for the measurement of ECL; • Establishing the number and relative weightings of forward-looking scenarios for each type of product/market and the associated ECL; and • Establishing groups of similar financial assets for the purposes of measuring ECL. 5.7 Determination of control over the structured entities To determine whether the Group controls the structured entities of which the Group acts as the asset manager or retail credit and enablement service provider, management applies judgment based on all relevant facts and circumstances to determine whether the Group is acting as the principal or agent for the structured entities. If the Group is acting as the principal, it has control over the structured entities. In assessing whether the Group is acting as the principal, the Group considers factors such as the scope of the decision-making authority, rights held by other parties, remuneration to which it is entitled to, and exposure to variable returns resulting from its additional involvement with structured entities. The Group will perform reassessment once the facts and circumstances change leading to changes in the above factors. Please refer to Note 4.3 for disclosure of the maximum risk exposure of unconsolidated structured entities of the Group. |
Technology platform-based incom
Technology platform-based income | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Technology platform-based income | 6 Technology platform-based income Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Technology platform–based income Retail credit and enablement service fees 39,587,797 36,793,020 28,621,121 Other technology platform–based income 1,634,045 1,501,297 597,311 41,221,842 38,294,317 29,218,432 Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Retail credit and enablement service fees Loan enablement service fees At a point in time 7,141,725 5,675,612 3,446,163 Post-origination service fees Over time 32,315,179 30,411,362 24,028,033 Referral income from platform service At a point in time 130,893 706,046 1,146,925 39,587,797 36,793,020 28,621,121 (a) The table below sets forth the remaining performance obligations of long-term contracts: As of December 31, 2021 2022 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 the year Expected to be recognized within one year 20,908,676 11,330,057 Expected to be recognized in one to two years 8,131,102 5,643,999 Expected to be recognized over two years 1,724,952 1,937,183 30,764,730 18,911,239 |
Net Interest Income
Net Interest Income | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Net Interest Income | 7 Net interest income Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Loans originated by consolidated trust plans Interest income 10,640,860 21,229,806 25,869,521 Interest expense (4,283,151 ) (8,400,992 ) (10,216,770 ) Net interest income from loans originated by consolidated trust plans 6,357,709 12,828,814 15,652,751 Loans originated by consumer finance company and microloan lending companies Interest income 1,395,961 1,535,023 4,023,755 Interest expense (3,210 ) (189,606 ) (695,130 ) Net interest income from loans originated by microloan lending companies and consumer finance company 1,392,751 1,345,417 3,328,625 Total net interest income 7,750,460 14,174,231 18,981,376 |
Other Income
Other Income | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Other Income | 8 Other income Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Account management service fees 1,253,760 3,507,999 1,094,030 Penalty fee income 212,328 276,250 80,201 Others 50,954 91,158 63,773 1,517,042 3,875,407 1,238,004 |
Investment Income
Investment Income | 12 Months Ended |
Dec. 31, 2022 | |
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Investment Income | 9 Investment income Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Interest income Financial assets at amortized cost 304,627 479,043 341,617 Financial assets purchased under reverse repurchase agreements 29,328 83,763 76,737 333,955 562,806 418,354 Realized gains Financial assets at fair value through profit or loss 1,163,988 991,437 1,099,568 Financial assets at amortized cost — 80,866 — 1,163,988 1,072,303 1,099,568 Net change in unrealized gains/(losses) Financial assets at fair value through profit or loss (Note 17) (558,044 ) (483,356 ) (212,297 ) 939,899 1,151,753 1,305,625 |
Expense by Nature
Expense by Nature | 12 Months Ended |
Dec. 31, 2022 | |
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Expense by Nature | 10 Expense by nature Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Employee benefit expenses (Note 10.1) 14,145,207 16,402,993 15,080,319 Loan origination and servicing expenses 7,091,078 5,712,598 3,667,962 Promotion and advertising expenses 1,221,762 1,685,847 1,525,797 Outsourcing service expenses 1,333,342 1,355,273 1,391,292 Payment processing expenses 1,204,712 1,197,869 1,134,905 Trust management fee 504,428 1,078,380 1,251,761 Depreciation of right-of-use 604,018 608,889 578,014 Taxes and surcharges 380,460 534,647 568,826 Business entertainment expenses 769,834 619,328 389,369 Depreciation of property and equipment (Note 23) 226,862 193,511 177,799 Audit fees 49,618 42,376 39,271 Amortization of intangible assets (Note 24) 31,831 22,234 15,325 Listing expenses — — 11,418 Others 1,049,327 740,039 1,057,293 Total sales and marketing expenses, general and administrative expenses, operation and servicing expenses, technology and analytics expenses 28,612,479 30,193,984 26,889,351 Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Sales and marketing expense Borrower acquisition expenses 11,506,402 10,119,525 7,865,407 General sales and marketing expenses 5,402,999 6,637,150 6,653,847 Investor acquisition and retention expenses 819,888 676,984 301,092 Referral expenses from platform service 84,268 559,413 936,570 17,813,557 17,993,072 15,756,916 10.1 Employee benefit expenses (a) Employee benefit expenses are as follows: Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Wages, salaries and bonuses 10,764,239 11,681,753 10,163,216 Other social security costs, housing benefits and other employee benefits 2,787,803 3,157,771 3,293,366 Pension costs – defined contribution plans 427,917 1,430,074 1,577,818 Share-based payment (Note 43) 165,248 133,395 45,919 14,145,207 16,402,993 15,080,319 (b) Five highest paid individuals The five individuals whose emoluments excluding share-based payment were the highest in the Group for the years ended December 31, 2020, 2021 and 2022 include four, three and two directors, whose emoluments are reflected in the analysis shown in Note 47. The emoluments payable to the remaining one, two and three individuals during the years ended December 31, 2020, 2021 and 2022 are as follows: Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Wages, salaries and bonuses 4,600 12,294 10,044 Other social security costs, housing benefits and other employee benefits 1,515 2,132 2,819 Pension costs – defined contribution plans — 57 149 6,115 14,483 13,012 The emoluments fell within the following bands: Year ended December 31, 2020 2021 2022 Emolument bands (in RMB’000) 1,000 – 5,000 — — 2 5,001 – 10,000 1 2 1 1 2 3 |
Credit Impairment Losses
Credit Impairment Losses | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Credit Impairment Losses | 11 Credit impairment losses Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Financing guarantee contracts 772,614 2,933,903 7,660,622 Loans to customers 744,893 2,441,111 7,175,389 Accounts and other receivables and contract assets 1,499,344 991,903 1,140,937 Financial assets at amortized cost 18,193 272,909 575,161 Others 144 3,901 (1,644 ) 3,035,188 6,643,727 16,550,465 |
Finance Costs
Finance Costs | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Finance Costs | 12 Finance costs Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Interest expenses on convertible promissory note 883,759 893,001 1,045,611 Interest expenses on borrowings 211,306 380,447 701,637 Interest expenses on Convertible Notes 135,412 495,079 521,747 One-time — — 173,775 Interest expense s 46,567 38,709 41,402 Interest expenses on unpaid consideration of convertible promissory note (Note 34(a)) — — 16,162 Interest expenses on consolidated wealth management products 92,302 9,122 6,473 One-time C-round 1,326,007 — — Interest expenses on convertible redeemable preferred shares 534,686 — — Bank interest income (364,385 ) (820,843 ) (1,267,815 ) 2,865,654 995,515 1,238,992 |
Other gains_(losses) - net
Other gains/(losses) - net | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Other gains/(losses) – net | 13 Other gains/(losses) – net Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Government grants 164,988 251,309 408,164 Input VAT super-deduction 81,850 46,127 92,230 ADS transferring income 3,444 109,843 236,827 Foreign exchange gains/(losses) 192,337 206,753 (877,232 ) Others (58,349 ) (114,653 ) 143,470 384,270 499,379 3,459 The foreign exchange gains in 2020 and 2021, amounting to RMB192 million and RMB207 million, respectively, was mainly due to the appreciation of RMB against USD. The significant increase in foreign exchange losses for the year ended December 31, 2022, amounting |
Income Tax Expenses
Income Tax Expenses | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Income Tax Expenses | 14 Income tax expenses The following table sets forth the income tax expense of the Group for the years ended December 31, 2020, 2021 and 2022: Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Current income tax 5,570,012 13,105,863 4,494,818 Deferred income tax 63,253 (6,414,745 ) (256,586 ) 5,633,265 6,691,118 4,238,232 The following table sets forth the reconciliation from income tax calculated based on the applicable tax rates and profit before income tax expenses presented in the consolidated financial statements to the income tax expenses: Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Profit before income tax expenses 17,909,505 23,400,178 13,013,271 Income tax calculated at the PRC statutory tax rate of 25%. 4,477,376 5,850,045 3,253,318 Tax effect of: Differential income tax rates applicable to subsidiaries (a)(b)(c)(d) 756,392 263,707 534,154 Deductible temporary differences and tax losses for which no deferred tax asset was recognized (g) 280,251 210,748 233,457 Expenses and losses not deductible for tax purposes (h) 262,843 245,097 265,674 Reversal of deferred tax assets recognized in prior years 3,643 381,456 62,925 Income not subject to tax (99,378 ) (19,640 ) (5,971 ) Effect of tax rate changes on deferred income taxes — (42,929 ) (9,565 ) Research and development tax credit (38,680 ) (39,038 ) (40,121 ) Utilisation of previously unrecognized deferred tax assets (14,711 ) (24,649 ) (100,351 ) Others (i) 5,529 (133,679 ) 44,712 Income tax expense 5,633,265 6,691,118 4,238,232 (a) Cayman Islands and BVI 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. The Group entities established under the BVI Business Companies Acts are exempted from BVI income taxes. (b) Hong Kong Income Tax Under the current Hong Kong Inland Revenue Ordinance, the Company’s subsidiaries incorporated in Hong Kong are subject to 16.5% income tax on their taxable income generated from operations in Hong Kong. Additionally, payments of dividends by the subsidiaries incorporated in Hong Kong to the Company are not subject to any Hong Kong withholding tax. Commencing from the year of assessment of 2018, the first HKD2 million of profits earned by the Company’s subsidiaries incorporated in Hong Kong will be taxed at half of the current tax rate (i.e. 8.25%) while the remaining profits will continue to be taxed at the existing 16.5% tax rate. (c) Singapore Income Tax The Singapore income tax rate is 17%. No Singapore profits tax was provided for as there was no estimated assessable profit that was subject to Singapore profits tax for the years ended December 31, 2020, 2021 and 2022. (d) Indonesia Income Tax The Indonesia income tax rate is 22%. No Indonesia profits tax was provided for as there was no estimated assessable profit that was subject to Indonesia profits tax for the years ended December 31, 2020, 2021 and 2022. (e) PRC Corporate Income Tax (“CIT”) The income tax provision of the Group in respect of its operations in the PRC was generally calculated at the tax rate of 25% on the assessable profits for the years ended December 31, 2020, 2021 and 2022, based on the existing legislation, interpretations and practices in respect thereof. On November 27, 2018, the Group’s subsidiary Weikun Technology applied and was qualified as High and New Technology Enterprises (hereinafter “HNTE”), which entitles it to a preferential CIT rate of 15% for consecutive three years. Weikun Technology reapplied HNTE and was approved the HNTE status in December 2021. Accordingly, Weikun was entitled to a preferential CIT rate of 15% for 2020, 2021 and 2022. According to certain preferential regulations and policies issued by relevant tax authorities, certain subsidiaries and branches of the Group were qualified for a preferential tax rate of 15% for the years ended December 31, 2020, 2021 and 2022. (f) PRC Withholding Tax According to the New Corporate Income Tax Law, distribution of profits earned by the PRC companies since January 1, 2008 to foreign investors is subject to withholding tax of 5% or 10%, depending on the country of incorporation of the foreign investor, upon the distribution of profits to overseas-incorporated immediate holding companies. The Group does not have any plan to require its PRC subsidiaries to distribute their existing retained earnings and intends to retain them to operate and expand business in the PRC. Accordingly, no deferred tax liability on withholding tax was accrued at the end of each year presented. (g) Due to the change in business strategy, deferred tax assets in relation to certain subsidiaries of the Group have not been recognized as it is not probable that future taxable profits of these subsidiaries will be available in order to utilize the tax benefits from the deductible temporary differences. (h) Expenses and losses not deductible for tax purposes mainly related to business entertainment expenses and advertising expenses exceeding certain threshold, as well as share-based compensation expenses, which are not tax deductible according to the relevant tax regualtions. The decrease of these amounts in 2022 was mainly due to decrease in business activities as a result of covid-19 (i) For the years ended December 31, 2020, 2021 and 2022, others mainly included PRC withholding income tax and the adjustments for current tax of prior periods during annual tax filing. In 2021, an application of a pre-tax deduction on a prior expense was confirmed by Tax Bureau during the annual tax filing, which caused an adjustment for current tax of prior periods. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2022 | |
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Earnings per share | 15 Earnings per share (a) Basic earnings per share is calculated by dividing the profit attributable to owners of the Group by the weighted average number of ordinary shares in issue during the year excluding ordinary shares purchased by the Group. Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Profit attributable to owners of the Company 12,354,114 16,804,380 8,699,369 Weighted average number of ordinary shares in issue (in ’000) 1,104,155 1,181,850 1,145,050 Basic earnings per share (in RMB) 11.19 14.22 7.60 Basic earnings per ADS (in RMB) 5.59 7.11 3.80 (b) Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. For the years ended December 31, 2020, 2021 and 2022 the Group has four categories of potential dilutive ordinary shares: convertible promissory note (refer to Note 34), optionally convertible promissory notes (refer to Note 35), share options and PSUs (refer to Note 43). For the year ended December 31, 2020, potential ordinary shares issuable upon conversion of optionally convertible promissory notes were not included in the calculation of diluted earnings, as the effect would have been anti-dilutive. For the year ended December 31, 2021, all four categories of potential dilutive ordinary shares are included in the calculation of diluted earnings per share. For the year ended December 31, 2022, two categories of potential dilutive ordinary shares are included in the calculation of diluted earnings per share: share options and PSUs. Potential ordinary shares issuable upon conversion of optionally convertible promissory notes and convertible promissory note were not included in the calculation of diluted earnings per share, as the effect would have been anti-dilutive. Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Earnings Profit attributable to owners of the Company 12,354,114 16,804,380 8,699,369 Interest expense on convertible instruments, net of tax 147,293 1,388,080 — Net profit used to determine diluted earnings per share 12,501,407 18,192,460 8,699,369 Weighted average number of ordinary shares Weighted average number of ordinary shares in issue (in ’000) 1,104,155 1,181,850 1,145,050 Adjustments for: Assumed conversion of convertible instruments (in ’000) 21,874 169,737 — Assumed exercise of share options and vesting of PSUs (in ’000) — 8,165 2,318 Weighted average number of ordinary shares for diluted earnings per share (in ’000) 1,126,029 1,359,752 1,147,368 Diluted earnings per share (in RMB) 11.10 13.38 7.58 Diluted earnings per ADS (in RMB) 5.55 6.69 3.79 |
Cash At Bank And Restricted Cas
Cash At Bank And Restricted Cash | 12 Months Ended |
Dec. 31, 2022 | |
Cash and cash equivalents [abstract] | |
Cash At Bank And Restricted Cash [Text Block] | 16 Cash at bank and restricted cash The Group As of December 31, Cash at bank 2021 2022 RMB’000 RMB’000 Demand deposits RMB 18,132,859 24,509,888 USD 4,137,462 1,985,271 HKD 43,697 13,586 IDR 37,385 15,450 SGD 3,651 — 22,355,054 26,524,195 Time deposits RMB 11,659,866 17,248,631 USD 637,884 — IDR 93,776 111,416 12,391,526 17,360,047 Less: Provision for impairment losses (3,392 ) (2,115 ) 34,743,188 43,882,127 As of December 31, 2021 2022 RMB’000 RMB’000 Restricted cash Cash from consolidated structured entities (a) 24,903,595 22,990,022 Deposits for borrowings (b) 3,042,930 1,478,504 Deposits held on behalf of platform investors (c) 1,791,455 702,018 Others 715,559 1,338,087 30,453,539 26,508,631 (a) Cash (b) Deposits for borrowings are pledges for secured borrowings (refer to Note 29(a)). (c) As of December 31, 2021, deposits held on behalf of platform investors represents funds received from platform investors while investment decisions are yet to be made, or investors’ funds whose withdrawal is in processing due to settlement time. As of December 31, 2022, deposits held on behalf of platform investors whose withdrawal is in processing due to settlement time. The Company As of December 31, Cash at bank 2021 2022 RMB’000 RMB’000 Demand deposits RMB 18,705 5,518 USD 1,634,458 1,638,784 1,653,163 1,644,302 Time deposits RMB 160,453 — USD — — 160,453 — Less: Provision for impairment losses — — 1,813,616 1,644,302 |
Financial Assets At Fair Value
Financial Assets At Fair Value Through Profit or Loss | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Financial assets at fair value through profit or loss | 17 Financial assets at fair value through profit or loss The Group As of December 31, 2021 2022 RMB’000 RMB’000 Unlisted securities Bank wealth management products 4,589,101 7,563,450 Mutual funds 2,486,541 7,125,498 Asset management plans (a) 8,307,773 5,009,713 Trust plans (a) 3,052,089 3,890,549 Structured deposits 6,640,977 2,406,785 Private fund and other equity investments (a) 2,765,016 2,044,051 Other debt investments 108,991 1,002,966 Corporate bonds (a) 3,064,872 46,435 Factoring products — — Listed securities Stock 7,851 — 31,023,211 29,089,447 (a) As of December 31, 2021 and 2022, the principal amount of financial assets at fair value through profit or loss amounting to The Company As of December 31, 2021 2022 RMB’000 RMB’000 Private fund investment 383,888 767,636 |
Financial Assets At Amortized C
Financial Assets At Amortized Cost | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Financial assets at amortized cost | 18 Financial assets at amortized cost The Group As of December 31, 2021 2022 RMB’000 RMB’000 Unlisted securities Debt Investments 5,002,174 6,471,987 Interest receivable 121,415 122,799 5,123,589 6,594,786 Less: Provision for impairment losses (1,338,976 ) (1,878,338 ) 3,784,613 4,716,448 Expected credit loss rate 26.13 % 28.48 % (a) As of December 31, 2021 and 2022, the principal amount of financial assets at amortized cost amounting to RMB1,795 million and RMB2,000 million were past due. An impairment loss of RMB300 million and RMB565 million was recognized for the years ended December 31, 2021 and 2022 based on the discounted future recoverable amount estimated at the balance sheet date. (b) The following table sets forth the movement of gross carrying amount of financial assets at amortized cost for the year ended December 31, 2020: Year ended December 31, 2020 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 POCI Total As of January 1, 2020 7,223,195 — 2,655,132 132,632 10,010,959 New financial assets originated or purchase d 8,590,588 — — 59,084 8,649,672 Write-offs — — (221,754 ) (12,521 ) (234,275 ) Financial assets de-recognized (10,300,916 ) — (318,143 ) (71,463 ) (10,690,522 ) As of December 31, 2020 5,512,867 — 2,115,235 107,732 7,735,834 (c) The following table sets forth the movement of ECL allowance for the year ended December 31, 2020: Year ended December 31, 2020 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 POCI Total As of January 1, 2020 13,997 — 1,321,133 52,817 1,387,947 New financial assets originated or purchase d 8,593 — — — 8,593 Write-offs — — (221,754 ) (12,521 ) (234,275 ) Financial assets de-recognized (4,160 ) — (15,444 ) (117 ) (19,721 ) Change in parameters of expected credit loss model (13,270 ) — 56,413 (13,822 ) 29,321 As of December 31, 2020 5,160 — 1,140,348 26,357 1,171,865 (d) The following table sets forth the movement of gross carrying amount of financial assets at amortized cost for the year ended December 31, 2021: Year ended December 31, 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 POCI Total As of January 1, 2021 5,512,867 — 2,115,235 107,732 7,735,834 New financial assets originated or purchase d 7,437,143 — — 604,418 8,041,561 Write-offs — — (17,651 ) (8,694 ) (26,345 ) Disposal in the current period — — (226,843 ) — (226,843 ) Financial assets de-recognized (10,240,254 ) — (5,500 ) (154,864 ) (10,400,618 ) As of December 31, 2021 2,709,756 — 1,865,241 548,592 5,123,589 (e) The following table sets forth the movement of ECL allowance for the year ended December 31, 2021: Year ended December 31, 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 POCI Total As of January 1, 2021 5,160 — 1,140,348 26,357 1,171,865 New financial assets originated or purchase d 10,808 — — — 10,808 Write-offs — — (17,651 ) (8,694 ) (26,345 ) Disposal in the current period — — (144,320 ) — (144,320 ) Financial assets de-recognized (4,531 ) — (10,366 ) 48,184 33,287 Change in parameters of expected credit loss model 467 — 312,491 (19,277 ) 293,681 As of December 31, 2021 11,904 — 1,280,502 46,570 1,338,976 (f) The following table sets forth the movement of gross carrying amount of financial assets at amortized cost for the year ended December 31, 2022: Year ended December 31, 2022 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 POCI Total As of January 1, 2022 2,709,756 — 1,865,241 548,592 5,123,589 New financial assets originated or purchase d 5,635,886 — — 79,456 5,715,342 Transfer (363,927 ) — 363,927 — — — From stage 1 to stage 2 (363,927 ) 363,927 — — — — From stage 2 to stage 3 — (363,927 ) 363,927 — — Write-offs — — (38,858 ) (11,854 ) (50,712 ) Financial assets de-recognized (3,822,562 ) — (102,087 ) (268,784 ) (4,193,433 ) As of December 31, 2022 4,159,153 — 2,088,223 347,410 6,594,786 (g) The following table sets forth the movement of ECL allowance for the year ended December 31, 2022: Year ended December 31, 2022 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 POCI Total As of January 1, 2022 11,904 — 1,280,502 46,570 1,338,976 New financial assets originated or purchase d 19,733 — — — 19,733 Transfer (3,622 ) — 236,007 — 232,385 — From stage 1 to stage 2 (3,622 ) 3,622 — — — — From stage 2 to stage 3 — (63,386 ) 63,386 — — Net impact on expected credit loss by stage transfer — 59,764 172,621 — 232,385 Write-offs — — (38,858 ) (11,854 ) (50,712 ) Financial assets de-recognized (5,395 ) — (74,124 ) 3,238 (76,281 ) Change in parameters of expected credit loss model 17,898 — 403,165 (6,826 ) 414,237 As of December 31, 2022 40,518 — 1,806,692 31,128 1,878,338 The Company As of December 31, 2021 2022 RMB’000 RMB’000 Unlisted securities Loans to subsidiaries 8,781,896 137,662 Interest receivable 72,434 18,387 8,854,330 156,049 Less: Provision for impairment losses (7,707 ) (447 ) 8,846,623 155,602 |
Financial Assets Purchased Unde
Financial Assets Purchased Under Reverse Repurchase Agreements | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Financial assets purchased under reverse repurchase agreements | 19 Financial assets purchased under reverse repurchase agreements Classified by collateral: As of December 31, 2021 2022 RMB’000 RMB’000 Bonds (a) 5,527,177 — (a) The Group enters into purchases of assets under reverse repurchase agreements. The Group may not take physical possession of assets purchased under such agreements. In the event of default by the counterparty to repurchase the assets, the Group has the right to the underlying assets. The difference between the purchasing price and reselling price is recognized as investment income over the term of the agreement using the effective interest method. |
Accounts And Other Receivables
Accounts And Other Receivables And Contract Assets | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Accounts and other receivables and contract assets | 20 Accounts and other receivables and contract assets The Group As of December 31, 2021 2022 RMB’000 RMB’000 Contract acquisition cost ( f 7,964,247 6,236,822 Receivables from core retail credit and enablement service 7,380,284 3,736,176 Receivables from external payment services providers (a) 2,665,300 1,826,203 Trust statutory deposits (b) 1,359,642 1,058,355 Receivables for shares repurchase program (Note 38(a)) 870,006 859,772 Receivables from referral arrangements 288,164 586,461 Receivables from other technology platform-based service 764,571 508,202 Other deposits 542,817 505,764 Receivables from guarantee arrangements 410,577 430,908 Receivables from ADS income 111,933 95,246 Receivables from exercise of share options 36,036 197 Others 582,044 553,530 Less: Provision for impairment losses (c) (630,848 ) (639,501 ) 22,344,773 15,758,135 The following table s e As of December 31, 2021 2022 RMB’000 RMB’000 Up to 1 year 8,673,176 5,107,630 1 to 2 years 78,420 117,620 2 to 3 years 9,931 30,548 Above 3 years 82,069 5,949 8,843,596 5,261,747 (a) The Group maintains accounts with external online payment service providers to transfer deposits of platform investors, collect principal and interest from borrowers and dispatch loan proceeds to borrowers. The Group recorded the related amounts as receivables from external payment service providers. (b) The balances represent cash deposited in China Trust Protection Fund Co., Ltd. as required by trust regulations. (c) The following table sets forth the movements in the provision for impairment losses: Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 At the beginning of the year 401,626 688,378 630,848 Impairment loss recognized in the consolidated statement of comprehensive income 1,499,344 991,903 1,140,937 Written off during the year (1,283,858 ) (1,083,618 ) (1,172,660 ) Recovery of receivables written off previously 71,266 34,185 40,376 At the end of the year 688,378 630,848 639,501 (d) The loss allowance as of December 31, 2021 was determined against receivables from core retail credit and enablement service, other technology platform-based service and referral and guarantee arrangements, as follows: As of December 31, 2021 Current 1-90 days past 91-180 days past due Total RMB’000 RMB’000 RMB’000 RMB’000 Expected loss rate 2.36 % 89.87 % 94.83 % 7.12 % Receivables from core retail credit and enablement service 6,943,369 201,188 235,727 7,380,284 Receivables from other technology platform-based service 764,571 — — 764,571 Receivables from referral arrangements 288,164 — — 288,164 Receivables from guarantee arrangements 379,493 18,069 13,015 410,577 Loss allowance (197,933 ) (197,042 ) (235,873 ) (630,848 ) (e) The loss allowance as of December 31, 2022 was determined against receivables from core retail credit and enablement service, other technology platform-based service and referral and guarantee arrangements, as follows: As of December 31, 2022 Current 1-90 days past 91-180 days past due Total RMB’000 RMB’000 RMB’000 RMB’000 Expected loss rate 3.11 % 92.34 % 93.11 % 12.15 % Receivables from core retail credit and enablement service 3,315,385 176,470 244,321 3,736,176 Receivables from other technology platform-based service 508,202 — — 508,202 Receivables from referral arrangements 586,461 — — 586,461 Receivables from guarantee arrangements 321,228 52,191 57,489 430,908 Loss allowance (147,337 ) (211,145 ) (281,019 ) (639,501 ) (f) As of December 31, 2021 and 2022, the remaining amount of consideration the Group expected to receive is higher than the carrying amount of contract acquisition cost. As such, no loss allowanc e The Company As of December 31, 2021 2022 RMB’000 RMB’000 Receivables for shares repurchase program 870,006 859,772 Receivables from subsidiaries 3,623,687 672,128 Receivables from ADS income 111,933 95,246 Receivables from exercise of share options 36,036 197 4,641,662 1,627,343 |
Loans To Customers
Loans To Customers | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Loans to customers | 21 Loans to customers As of December 31, 2021 2022 RMB’000 RMB’000 Loans originated by consolidated trust plans 202,175,185 186,396,992 Loans originated by microloan lending companies and consumer finance company 12,587,586 30,109,705 Interest receivable 2,963,210 2,002,926 Less: Provision for impairment losses Stage 1 (1,860,245 ) (4,481,912 ) Stage 2 (312,280 ) (1,197,126 ) Stage 3 (581,346 ) (1,383,940 ) (2,753,871 ) (7,062,978 ) 214,972,110 211,446,645 Expected credit loss rate 1.26 % 3.23 % (a) As of December 31, 2021 and 2022, loans amounting to RMB162,417 million and RMB142,966 million, respectively, were covered by credit enhancement provided by credit enhancement providers. Of these amounts, the majority of the balance in each period was covered by credit insurance provided by Ping An Property and Casualty Insurance Company (“Ping An P&C”), a subsidiary of Ping An Group. Credit enhancement providers independently underwrite the borrowers and entered into the credit enhancement agreements either in the form of credit insurance or financing guarantees directly with the borrowers. The beneficiaries of such credit enhancement are the institutional funding partners who provide funding to the borrowers. (b) For the years ended December 31, 2020, 2021 and 2022, the amounts of concession provided to customers were not material. ( c The following table sets forth the movement of gross carrying amount of loans to customers for the year ended December 31, 2020: Year ended December 31, 2020 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2020 47,052,175 324,440 1,373,211 48,749,826 New loans originated 141,924,691 — — 141,924,691 Transfers (2,124,274 ) 1,713,887 410,387 — — From stage 1 to stage 2 (1,806,096 ) 1,806,096 — — — From stage 1 to stage 3 (324,045 ) — 324,045 — — From stage 2 to stage 1 5,867 (5,867 ) — — — From stage 2 to stage 3 — (98,355 ) 98,355 — — From stage 3 to stage 2 — 12,013 (12,013 ) — Loans de-recognized (67,284,010 ) (1,198,510 ) (195,666 ) (68,678,186 ) Write-offs — — (1,181,312 ) (1,181,312 ) As of December 31, 2020 119,568,582 839,817 406,620 120,815,019 ( d The following table sets forth the movement of ECL allowance for the year ended December 31, 2020: Year ended December 31, 2020 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2020 136,396 53,258 1,061,660 1,251,314 New loans originated 373,266 — — 373,266 Transfers (107,551 ) 213,807 378,215 484,471 — From stage 1 to stage 2 (101,324 ) 101,324 — — — From stage 1 to stage 3 (7,322 ) — 7,322 — — From stage 2 to stage 1 4,161 (4,161 ) — — — From stage 2 to stage 3 — (49,632 ) 49,632 — — From stage 3 to stage 2 — 1,344 (1,344 ) — Net impact on expected credit loss by stage transfers (3,066 ) 164,932 322,605 484,471 Loans de-recognized (203,494 ) (89,632 ) (119,197 ) (412,323 ) Change in parameters of expected credit loss model 282,237 17,906 (664 ) 299,479 Write-offs — — (1,181,312 ) (1,181,312 ) Recovery of loans written off previously — — 174,310 174,310 As of December 31, 2020 480,854 195,339 313,012 989,205 ( e The following table sets forth the movement of gross carrying amount of loans to customers for the year ended December 31, 2021: Year ended December 31, 2021 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2021 119,568,582 839,817 406,620 120,815,019 New loans originated 234,198,681 — — 234,198,681 Transfers (5,530,212 ) 4,439,585 1,090,627 — — From stage 1 to stage 2 (5,579,855 ) 5,579,855 — — — From stage 2 to stage 1 49,643 (49,643 ) — — — From stage 2 to stage 3 — (1,091,109 ) 1,091,109 — — From stage 3 to stage 2 — 482 (482 ) — Loans de-recognized (132,711,645 ) (3,703,157 ) (25,534 ) (136,440,336 ) Write-offs — — (847,383 ) (847,383 ) As of December 31, 2021 215,525,406 1,576,245 624,330 217,725,981 ( f The following table sets forth the movement of ECL allowance for the year ended December 31, 2021: Year ended December 31, 2021 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2021 480,854 195,339 313,012 989,205 New loans originated 1,346,940 — — 1,346,940 Transfers. . (1,104,156 ) 454,235 1,045,357 395,436 — From stage 1 to stage 2 (1,109,405 ) 1,109,405 — — — From stage 2 to stage 1 16,509 (16,509 ) — — — From stage 2 to stage 3 — (1,000,215 ) 1,000,215 — — From stage 3 to stage 2 — 458 (458 ) — Net impact on expected credit loss by stage transfers (11,260 ) 361,096 45,600 395,436 Loans de-recognized (622,468 ) (470,524 ) (124,794 ) (1,217,786 ) Change in parameters of expected credit loss model 1,759,075 133,230 24,216 1,916,521 Write-offs — — (847,383 ) (847,383 ) Recovery of loans written off previously — — 170,938 170,938 As of December 31, 2021 1,860,245 312,280 581,346 2,753,871 ( g The following table sets forth the movement of gross carrying amount of loans to customers for the year ended December 31, 2022: Year ended December 31, 2022 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2022 215,525,406 1,576,245 624,330 217,725,981 New loans originated 215,834,125 — — 215,834,125 Transfers (17,245,234 ) 13,239,242 4,005,992 — — From stage 1 to stage 2 (17,540,156 ) 17,540,156 — — — From stage 2 to stage 1 294,922 (294,922 ) — — — From stage 2 to stage 3 — (4,015,845 ) 4,015,845 — — From stage 3 to stage 2 — 9,853 (9,853 ) — Loans de-recognized (201,023,209 ) (10,854,775 ) (159,277 ) (212,037,261 ) Write-offs — — (3,013,222 ) (3,013,222 ) As of December 31, 2022 213,091,088 3,960,712 1,457,823 218,509,623 ( h The following table sets forth the movement of ECL allowance for the year ended December 31, 2022: Year ended December 31, 2022 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2022 1,860,245 312,280 581,346 2,753,871 New loans originated 1,609,220 — — 1,609,220 Transfers (3,550,516 ) 1,088,799 3,840,446 1,378,729 — From stage 1 to stage 2 (3,573,960 ) 3,573,960 — — — From stage 2 to stage 1 54,161 (54,161 ) — — — From stage 2 to stage 3 — (3,575,710 ) 3,575,710 — — From stage 3 to stage 2 — 9,329 (9,329 ) — Net impact on expected credit loss by stage transfers (30,717 ) 1,135,381 274,065 1,378,729 Loans de-recognized (1,707,206 ) (403,559 ) (214,194 ) (2,324,959 ) Change in parameters of expected credit loss model 6,270,169 199,606 42,624 6,512,399 Write-offs — — (3,013,222 ) (3,013,222 ) Recovery of loans written off previously — — 146,940 146,940 As of December 31, 2022 4,481,912 1,197,126 1,383,940 7,062,978 As of December 31, 2022, loans to customers amounting to RMB3,013 million were written off in 2022 and were still subject to enforcement activity. The enforcement activity includes the amounts written off in previous years. |
Deferred Tax Assets And Deferre
Deferred Tax Assets And Deferred Tax Liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Deferred tax assets and deferred tax liabilities | 22 Deferred tax assets and deferred tax liabilities Deferred income assets and liabilities of the Group are set out as follows: As of December 31, 2021 2022 RMB’000 RMB’000 Deferred tax assets 4,873,370 4,990,352 Deferred tax liabilities (833,694 ) (694,090 ) Net amount 4,039,676 4,296,262 Deferred assets and liabilities not taking into consideration the offsetting of balances are set out as follows: (a) The following table sets forth the details of deferred tax assets: As of December 31, 2021 2022 RMB’000 RMB’000 Provision for asset impairments 986,943 1,303,345 Guarantee liabilities 674,277 1,440,842 Revenue recognition—differences between accounting and tax book 1,635,551 1,252,255 Employee benefit payables 751,926 483,747 Accrued expenses 489,544 355,999 Deductible tax losses 194,627 217,501 Changes in fair value 140,242 170,471 Others 63,476 25,360 4,936,586 5,249,520 (b) Deductible temporary differences and deductible losses that are not recognized as deferred tax assets are analyzed as follows: As of December 31, 2021 2022 RMB’000 RMB’000 Deductible temporary differences 2,720,263 3,792,705 Deductible losses 2,432,434 2,135,395 5,152,697 5,928,100 (c) Deductible losses that are not r e As of December 31, 2021 2022 RMB’000 RMB’000 2022 7,433 6,149 2023 124,678 120,824 2024 365,455 310,412 2025 71,574 158,783 2026 169,894 33,382 2027 — 263,800 No due date 1,693,400 1,242,045 2,432,434 2,135,395 (d) The following table sets forth the movements of the deferred tax asset: Movements Deductible Provision for Employee Accrued Guarantee Revenue recognition - Others (Include Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As of January 1, 2020 1,047,234 939,239 563,567 430,965 60,687 — 148,864 3,190,556 Credited/(charged) - to profit or loss (465,909 ) 429,454 62,481 97,695 126,482 — 120,166 370,369 As of December 31, 2020 581,325 1,368,693 626,048 528,660 187,169 — 269,030 3,560,925 Credited/(charged) - to profit or loss (386,698 ) (381,750 ) 125,878 (39,116 ) 487,108 1,635,551 (65,312 ) 1,375,661 As of December 31, 2021 194,627 986,943 751,926 489,544 674,277 1,635,551 203,718 4,936,586 Credited/(charged) - to profit or loss 22,874 316,402 (268,179 ) (133,545 ) 766,565 (383,296 ) (7,887 ) 312,934 As of December 31, 2022 217,501 1,303,345 483,747 355,999 1,440,842 1,252,255 195,831 5,249,520 (e) The following table sets forth for the details of deferred tax liabilities: As of December 31, 2021 2022 RMB’000 RMB’000 Unrealized consolidated earnings 576,472 672,661 Intangible assets arisen from business combination 211,565 211,565 Changes in fair value 77,271 57,471 Effective interest adjustment 18,045 — Revenue recognition differences between accounting and tax book — — Others 13,557 11,561 896,910 953,258 (f) The following table sets forth the movements of the deferred tax liabilities: Movements Revenue Intangible Unrealized consolidated Effective Changes in Others Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As of January 1, 2020 4,476,834 452,258 295,637 260,671 16,956 16 5,502,372 Charged/(credited) - to profit or loss (318,850 ) — 139,213 601,364 3,513 8,382 433,622 As of December 31, 2020 4,157,984 452,258 434,850 862,035 20,469 8,398 5,935,994 Charged/(credited) - to profit or loss (4,157,984 ) (240,693 ) 141,622 (843,990 ) 56,802 5,159 (5,039,084 ) As of December 31, 2021 — 211,565 576,472 18,045 77,271 13,557 896,910 Charged/(credited) - to profit or loss — — 96,189 (18,045 ) (19,800 ) (1,996 ) 56,348 As of December 31, 2022 — 211,565 672,661 — 57,471 11,561 953,258 (g) The following table sets forth the net balances of deferred tax assets and liabilities after offsetting: As of December 31, 2021 2022 Offset amount Balance after offsetting Offset amount Balance after offsetting RMB’000 RMB’000 RMB’000 RMB’000 Deferred tax assets (63,216 ) 4,873,370 (259,168 ) 4,990,352 Deferred tax liabilities 63,216 (833,694 ) 259,168 (694,090 ) |
Property And Equipment
Property And Equipment | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Property and equipment | 23 Property and equipment Buildings, office and Leasehold Total RMB’000 RMB’000 RMB’000 As of January 1, 2020 Cost 590,724 761,009 1,351,733 Accumulated depreciation (293,759 ) (540,737 ) (834,496 ) Net book amount 296,965 220,272 517,237 Year ended December 31, 2020 Opening net book amount 296,965 220,272 517,237 Additions 61,403 86,892 148,295 Disposals (14,463 ) (164 ) (14,627 ) Depreciation charge (96,797 ) (130,065 ) (226,862 ) Closing net book amount 247,108 176,935 424,043 As of December 31, 2020 Cost 601,764 804,164 1,405,928 Accumulated depreciation (354,656 ) (627,229 ) (981,885 ) Net book amount 247,108 176,935 424,043 Buildings, office and Leasehold Total RMB’000 RMB’000 RMB’000 As of January 1, 2021 Cost 601,764 804,164 1,405,928 Accumulated depreciation (354,656 ) (627,229 ) (981,885 ) Net book amount 247,108 176,935 424,043 Year ended December 31, 2021 Opening net book amount 247,108 176,935 424,043 Additions 65,971 90,645 156,616 Disposals (6,676 ) (391 ) (7,067 ) Depreciation charge (92,464 ) (101,047 ) (193,511 ) Closing net book amount 213,939 166,142 380,081 As of December 31, 2021 Cost 626,583 849,946 1,476,529 Accumulated depreciation (412,644 ) (683,804 ) (1,096,448 ) Net book amount 213,939 166,142 380,081 Buildings, office and Leasehold Total RMB’000 RMB’000 RMB’000 As of January 1, 2022 Cost 626,583 849,946 1,476,529 Accumulated depreciation (412,644 ) (683,804 ) (1,096,448 ) Net book amount 213,939 166,142 380,081 Year ended December 31, 2022 Opening net book amount 213,939 166,142 380,081 Additions 44,915 81,100 126,015 Disposals (4,601 ) (1,197 ) (5,798 ) Depreciation charge (74,057 ) (103,742 ) (177,799 ) Closing net book amount 180,196 142,303 322,499 As of December 31, 2022 Cost 602,743 916,081 1,518,824 Accumulated depreciation (422,547 ) (773,778 ) (1,196,325 ) Net book amount 180,196 142,303 322,499 |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Intangible assets | 24 Intangible assets Trademarks and licenses Computer software and others Total RMB’000 RMB’000 RMB’000 As of January 1, 2020 Cost 1,815,576 633,857 2,449,433 Accumulated amortization (5,000 ) (483,649 ) (488,649 ) Impairment — (64,209 ) (64,209 ) Net book amount 1,810,576 85,999 1,896,575 Year ended December 31, 2020 Opening net book amount 1,810,576 85,999 1,896,575 Additions — 17,718 17,718 Amortization charge — (31,831 ) (31,831 ) Closing net book amount 1,810,576 71,886 1,882,462 As of December 31, 2020 Cost 1,815,576 255,063 2,070,639 Accumulated amortization (5,000 ) (118,968 ) (123,968 ) Impairment — (64,209 ) (64,209 ) Net book amount 1,810,576 71,886 1,882,462 Trademarks and licenses Computer software and others Total RMB’000 RMB’000 RMB’000 As of January 1, 2021 Cost 1,815,576 255,063 2,070,639 Accumulated amortization (5,000 ) (118,968 ) (123,968 ) Impairment — (64,209 ) (64,209 ) Net book amount 1,810,576 71,886 1,882,462 Year ended December 31, 2021 Opening net book amount 1,810,576 71,886 1,882,462 Additions — 3,126 3,126 Impairment (963,948 ) — (963,948 ) Amortization charge — (22,234 ) (22,234 ) Closing net book amount 846,628 52,778 899,406 As of December 31, 2021 Cost 1,815,576 258,189 2,073,765 Accumulated amortization (5,000 ) (141,202 ) (146,202 ) Impairment (963,948 ) (64,209 ) (1,028,157 ) Net book amount 846,628 52,778 899,406 Trademarks and licenses Computer software and others Total RMB’000 RMB’000 RMB’000 As of January 1, 2022 Cost 1,815,576 258,189 2,073,765 Accumulated amortization (5,000 ) (141,202 ) (146,202 ) Impairment (963,948 ) (64,209 ) (1,028,157 ) Net book amount 846,628 52,778 899,406 Year ended December 31, 2022 Opening net book amount 846,628 52,778 899,406 Additions — 2,134 2,134 Disposals — (756 ) (756 ) Impairment — (403 ) (403 ) Amortization charge — (15,325 ) (15,325 ) Closing net book amount 846,628 38,428 885,056 As of December 31, 2022 Cost 1,389,576 253,145 1,642,721 Accumulated amortization (5,000 ) (150,105 ) (155,105 ) Impairment (537,948 ) (64,612 ) (602,560 ) Net book amount 846,628 38,428 885,056 (a) Impairment tests for intangible assets The trademarks and licenses were intangible assets acquired in business combinations as part of the reorganization of the Group. Most of the trademarks and licenses acquired were determined to have indefinite useful life as there is no foreseeable limit to the period over which these assets are expected to generate net cash inflows for the Group. Impairment reviews on the trademarks and licenses with indefinite useful life were conducted by the Group at the end of years according to IAS 36 “Impairment of assets”. For the purposes of impairment assessment, the recoverable amount of the trademarks and licenses with indefinite life were determined based on the higher of the fair value less cost of disposal and value-in-use The management did the value-in-use Value-in-use The key assumptions used for value-in-use As of December 31, 2020 2021 2022 Pre-tax 26% 26% 21%-25% Revenue growth rates 3%-275% 3%-8% -47%-58% Long term growth rate 3% 3% 2% The t r As of December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Recoverable amount of the CGU exceeded its carrying amount 3,895,059 3,795,189 4,761,332 The following table sets forth the impact of reasonable possible changes in each of the key assumptions, with all other variables held constant, on Puhui’s trademark right impairment testing at the dates indicated. As shown below, the possible changes of key parameters would not cause the carrying amount of the CGU to exceed its recoverable amount at the dates indicated. Recoverable amount of the CGU exceeded its carrying amount As of December 31, Possible changes of key assumptions 2020 2021 2022 RMB’000 RMB’000 RMB’000 Revenue growth rate decrease by 5% 3,772,487 3,711,922 4,524,074 Pre-tax 3,690,604 3,597,045 4,428,832 The high growth rate adopted in 2020 assessment was mainly due to the substantial increase in the business volume of Ping An Financing Guarantee (Tianjin) Co., Ltd. (“Tianjin Guarantee”) during the early period after the acquisition. The growth rate adopted in 2021 assessment changed significantly due to the integration of business of Tianjin Gu arantee Based on management’s assessment on the recoverable amounts of the CGU, impairment losses amounting to nil, RMB964 million and nil were recognized for the years ended December 31, 2020, 2021 and 2022, respectively. Other than the aforementioned impairment, the results of cash flow projections exceed the carrying amount of each related cash-generating |
Leases
Leases | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Leases | 25 Leases (a) Amounts recognized in the statement of financial position The statement of financial position shows the following amounts relating to leases: As of December 31, 2021 2022 Right-of-use RMB’000 RMB’000 Properties 804,990 754,010 Lease liabilities 794,544 748,807 (b) Amounts recognized in the statement of profit or loss The statement of profit or loss shows the following amounts relating to leases: Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Depreciation charge of right-of-use 604,018 608,889 578,014 Interest expense (included in finance costs) 46,567 38,709 41,402 Expense relating to short-term leases (included in operation and servicing expenses; general and administrative expenses; technology and analytics expenses; and sales and marketing expenses) 115,741 55,408 37,376 Expense relating to leases of low-value 26,684 25,550 25,548 The total cash outflow for leases for years ended December 31, 2020, 2021 and 2022 were RMB794 million, RMB713 million and RMB694 million, respectively. (c) Movement of right-of-use Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Opening net book amount 914,960 973,547 804,990 Additions 697,403 501,663 589,488 Early termination (34,798 ) (61,331 ) (62,454 ) Depreciation charge (604,018 ) (608,889 ) (578,014 ) Closing net book amount 973,547 804,990 754,010 As of December 31, 2021 2022 RMB’000 RMB’000 Cost 1,810,222 1,500,951 Accumulated depreciation (1,005,232 ) (746,941 ) Net book amount 804,990 754,010 |
Goodwill
Goodwill | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Goodwill | 26 Goodwill As of January 1, 2020 Increase Decrease As of December 31, 2020 RMB’000 RMB’000 RMB’000 RMB’000 Puhui 8,911,445 — — 8,911,445 Tianjin Guarantee 126,207 — — 126,207 Pingan Jixin 67,752 — — 67,752 Lu International (Hong Kong) Limited 6,663 — — 6,663 Yunque Dongfang 2,800 — — 2,800 Jinniu Loan 2,515 — — 2,515 9,117,382 — — 9,117,382 Less: Impairment losses (70,552 ) — — (70,552 ) 9,046,830 — — 9,046,830 As of January 1, 2021 Increase Decrease As of December 31, 2021 RMB’000 RMB’000 RMB’000 RMB’000 Puhui 8,911,445 — — 8,911,445 Tianjin Guarantee 126,207 — — 126,207 Pingan Jixin 67,752 — — 67,752 Lu International (Hong Kong) Limited 6,663 — — 6,663 Yunque Dongfang 2,800 — — 2,800 Jinniu Loan 2,515 — — 2,515 9,117,382 — — 9,117,382 Less: Impairment losses (70,552 ) (128,722 ) — (199,274 ) 9,046,830 (128,722 ) — 8,918,108 As of January 1, 2022 Increase Decrease As of December 31, 2022 RMB’000 RMB’000 RMB’000 RMB’000 Puhui 8,911,445 — — 8,911,445 Tianjin Guarantee 126,207 — (126,207 ) — Pingan Jixin 67,752 — — 67,752 Lu International (Hong Kong) Limited 6,663 — — 6,663 Yunque Dongfang 2,800 — (2,800 ) — Jinniu Loan 2,515 — — 2,515 9,117,382 — (129,007 ) 8,988,375 Less: Impairment losses (a) (199,274 ) (6,663 ) 129,007 (76,930 ) 8,918,108 (6,663 ) — 8,911,445 (a) As of December 31, 2022, Pingan Jixin, Lu International (Hong Kong) Limited, and Jinniu Loan were fully impaired. Tianjin Guarantee and Yunque Dongfang were written off. ( b Impairment testing for goodwill The Group carries out its impairment testing on goodwill by comparing the recoverable amounts of groups of CGU to their carrying amounts. The recoverable amount of CGU and groups of CGU is the higher of value-in-use Management performed the value-in-use Value-in-use The key assumptions used for value-in-use As of December 31, 2020 2021 2022 Pre-tax 24%-27% 27% 19% Revenue growth rates 3%-275% 3%-8% -22%-30% Long term growth rate 3% 3% 2% The recoverable amount of Puhui exceeded its carrying amount: As of December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Recoverable amount of the CGU exceeded its carrying amount 58,347,954 46,780,343 31,032,688 The following table sets forth the impact of reasonable possible changes in e Recoverable amount of the CGU exceeded its carrying amount As of December 31, Possible changes of key assumptions 2020 2021 2022 RMB’000 RMB’000 RMB’000 Revenue growth rate decrease by 5% 51,446,124 45,153,184 12,785,375 Pre-tax 54,371,643 43,239,361 25,826,383 The high growth rate deployed in 2020 assessment was mainly due to the substantial increase in the business volume of Tianjin Guarantee during the early period after the acquisition. The growth rate deployed in 2021 assessment changed significantly due to the integration of business of Tianjin Guarantee with Puhui Guarantee following the self-investigation and rectification for the regulatory interview on April 29, 2021. As a result, impairment loss amounting to RMB 126 million was recognized in 2021. Based on management’s assessment on the recoverable amounts of the CGU, impairment losses amounting to nil, RMB129 million and RMB6.7 million were recognized for the years ended December 31, 2020, 2021 and 2022, respectively. Other than the aforementioned impairment, the results of cash flow projections exceed the carrying amount of each related cash-generating unit or group of units. However, subsequent impairment tests may be based on different assumptions and future cash flow projections, which may result in impairment losses of these assets in the foreseeable future. |
Other Assets
Other Assets | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Other assets | 27 Other assets As of December 31, 2021 2022 RMB’000 RMB’000 Prepaid income tax and value-added tax 553,938 697,820 Recoverable value-added tax 500,436 646,257 Derivative financial assets (a )(b ) 38,403 447,443 Prepayments 114,380 101,879 Repossessed assets 37,085 30,077 Deferred expenses 24,133 29,277 Others 12,210 30,536 1,280,585 1,983,289 Less: Provisions for impairment (31,161 ) (24,548 ) 1,249,424 1,958,741 (a) Interest rate swap As of December 31, 2021 2022 (’000) (’000) Carrying amount RMB38,403 RMB222,086 Notional amount USD1,290,000 USD1,290,000 Maturity date 18/05/202 18/05/202 Pay type Fixed Fixed Receive type 1 month 1 month (b) Foreign currency swap As of December 31, 2022 (’000) Carrying amount RMB225,357 Notional amount USD1,050,000 Maturity date 06/04/2023 15/05/2023 Pay side RMB Receive side USD |
Payable To Platform Investors
Payable To Platform Investors | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Payable To Platform Investors | 28 Payable to platform investors As of December 31, 2021, payable to platform investors are the funds received from platform investors while investment decisions are yet to be made, or investors’ funds whose withdrawal is in processing due to settlement time. As of December 31, 2022, payable to platform investors are the investors’ funds whose withdrawal is in processing due to settlement time. |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Borrowings | 29 Borrowings The Group As of December 31, 2021 2022 RMB’000 RMB’000 Secured - Bank borrowings (a) 2,991,890 1,343,970 Unsecured - Bank borrowings (b) 22,816,450 35,251,477 - Corporate borrowings 388 — 25,808,728 36,595,447 Interest payable 118,689 320,066 Total borrowings 25,927,417 36,915,513 (a) As of December 31, 2022, the Group had RMB 1,344 million secured bank borrowings guaranteed by deposits (refer to Note 16(b)), The terms of all these borrowings are twenty-four months, whose interest rates range from 3.84% to 4.05% per annum. (b) The Group had obtained a USD1,500 million syndicated loan commitment on February 13, 2020, and drew down US D1,290 million of unsecured borrowings in 2020. The interest rate is determined based on monthl y LIBOR rate plus 1.25% and the interest is paid on monthly basis. All borrowings will mature on May 18, 2023. (c) The following table sets forth the range of interest rates of borrowings as of December 31, 202 1 As of December 31, 2021 2022 Bank borrowings - fixed rate 2.80%-4.80% 2.70%-4.30% Bank borrowings - floating rate 1.35%-1.92% 1.72%-5.59% Corporate borrowings - fixed rate 0.78% N/A The Company As of December 31, 2021 2022 RMB’000 RMB’000 Unsecured - Bank borrowings 318,785 138,860 Interest payable 1,141 194 Total borrowings 319,926 139,054 |
Bond payable
Bond payable | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Bond payable | 30 Bond payable As of December 31, 2022 RMB’000 New issued bonds 2,010,782 Interest accrued at effective interest rate 57,267 Interest paid — Exchange differences 75,299 Carrying value as of December 31, 2022 2,143,348 On June 7, 2022 and June 14, 2022, the Group issued two bonds of USD 300 million (equivalent to approximately RMB2,013 million) in aggregate, whose interest rates are determined based on compounded SOFR rate plus 2.5% and 2.55%, and the interest is paid at maturity. Both of these bonds mature one year from their respective issuance dates. |
Accounts And Other Payables And
Accounts And Other Payables And Contract Liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Accounts and other payables and contract liabilities [Abstract] | |
Accounts And Other Payables And Contract Liabilities | 31 Accounts and other payables and contract liabilities The Group As of December 31, 2021 2022 RMB’000 RMB’000 Unpaid redemption consideration for convertible promissory notes (Note 34(a)) — 3,745,929 Contract liabilities from retail credit and enablement service 1,107,263 3,067,715 Employee benefit payable 4,041,847 2,715,543 Tax payable 831,329 846,402 Payable to cooperation banks (a) 702,844 471,339 Payable to investees 431,148 430,616 Payable to external suppliers (c) 401,209 193,283 Trust management fee payable (c) 415,817 57,976 Cash compensation of Class C ordinary shares restructuring 46,749 21,205 Other deposits payable 108,291 221,671 Payable for purchase of trust plan 137,724 — Others (b) 590,034 426,975 8,814,255 12,198,654 (a) Payable to cooperation banks is related to the restricted cash that is generated from a risk sharing business with banks. Under such business, the Group provides loan enablement services for loans originated by banks and is paid a variable fee determined based on the performance of underlying loans facilitated by the Group. On a monthly basis, the Group receives fixed service fees from the cooperation banks based on a fixed percentage of loans originated in restricted cash accounts. The service fees will be adjusted based on actual performance of the loans originated under this business upon maturity. (b) Others comprise miscellaneous it e (c) As of December 31, The Company As of December 31, 2021 2022 RMB’000 RMB’000 Unpaid redemption consideration for convertible promissory notes (Note 34(a)) — 3,745,929 Cash compensation of Class C ordinary shares restructuring 46,749 21,205 Payable to external suppliers — 94 Employee benefit payable — — Others 28,179 36,415 74,928 3,803,643 |
Payable To Investors Of Consoli
Payable To Investors Of Consolidated Structured Entities | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Payable To Investors of Consolidated Structured Entities [Abstract] | |
Payable To Investors Of Consolidated Structured Entities | 32 Payable to investors of consolidated structured entities As of December 31, 2021 2022 RMB’000 RMB’000 Payable to investors of consolidated trust plans 195,262,648 177,102,034 Payable to investors of consolidated wealth management plans 183,492 45,692 195,446,140 177,147,726 |
Financing Guarantee Liabilities
Financing Guarantee Liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Financing Guarantee Liabilities | 33 Financing guarantee liabilities (a) The following table sets forth the movement of gross carrying amount of financing guarantee contracts for the year ended December 31, 2020: Year ended December 31, 2020 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2020 4,600,281 39,050 — 4,639,331 New guarantee contracts originated 23,031,641 — — 23,031,641 Transfers (373,494 ) 373,494 — — — From stage 1 to stage 2 (392,721 ) 392,721 — — — From stage 2 to stage 1 19,227 (19,227 ) — — Guarantee liabilities de-recognized (6,359,929 ) (342,017 ) — (6,701,946 ) As of December 31, 2020 20,898,499 70,527 — 20,969,026 (b) The following table sets forth the movement of ECL allowance of financing guarantee contracts for the year ended December 31, 2020: Year ended December 31, 2020 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2020 211,913 30,836 — 242,749 New guarantee contracts originated 344,770 — — 344,770 Transfers (228,744 ) 294,153 — 65,409 — From stage 1 to stage 2 (233,701 ) 233,701 — — — From stage 2 to stage 1 14,823 (14,823 ) — — Net impact on expected credit loss by stage transfers (9,866 ) 75,275 — 65,409 Guarantee liabilities de-recognized (217,235 ) (272,243 ) — (489,478 ) Change in parameters of expected credit loss model 577,376 7,848 — 585,224 As of December 31, 2020 688,080 60,594 — 748,674 (c) The following table sets forth the movement of gross carrying amount of financing guarantee contracts for the year ended December 31, 2021: Year ended December 31, 2021 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2021 20,898,499 70,527 — 20,969,026 New guarantee contracts originated 71,968,587 — — 71,968,587 Transfers (1,261,287 ) 1,261,287 — — — From stage 1 to stage 2 (1,296,115 ) 1,296,115 — — — From stage 2 to stage 1 34,828 (34,828 ) — — Guarantee liabilities de-recognized (27,188,881 ) (1,017,363 ) — (28,206,244 ) As of December 31, 2021 64,416,918 314,451 — 64,731,369 (d) The following table sets forth the movement of ECL allowance of financing guarantee contracts for the year ended December 31, 2021: Year ended December 31, 2021 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2021 688,080 60,594 — 748,674 New guarantee contracts originated 1,126,819 — — 1,126,819 Transfers (978,068 ) 1,175,369 — 197,301 — From stage 1 to stage 2 (993,204 ) 993,204 — — — From stage 2 to stage 1 32,580 (32,580 ) — — Net impact on expected credit loss by stage transfers (17,444 ) 214,745 — 197,301 Guarantee liabilities de-recognized (911,219 ) (954,257 ) — (1,865,476 ) Change in parameters of expected credit loss model 2,476,773 13,018 — 2,489,791 As of December 31, 2021 2,402,385 294,724 — 2,697,109 (e) The following table sets forth the movement of gross carrying amount of financing guarantee contracts for the year ended December 31, 2022: Year ended December 31, 2022 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2022 64,416,918 314,451 — 64,731,369 New guarantee contracts originated 59,085,462 — — 59,085,462 Transfers (5,760,786 ) 5,760,786 — — — From stage 1 to stage 2 (5,887,854 ) 5,887,854 — — — From stage 2 to stage 1 127,068 (127,068 ) — — Guarantee liabilities de-recognized (50,729,902 ) (4,583,991 ) — (55,313,893 ) As of December 31, 2022 67,011,692 1,491,246 — 68,502,938 (f) The following table sets forth the movement of ECL allowance of financing guarantee contracts for the year ended December 31, 2022: Year ended December 31, 2022 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2022 2,402,385 294,724 — 2,697,109 New guarantee contracts originated 980,980 — — 980,980 Transfers (4,462,900 ) 5,388,205 — 925,305 — From stage 1 to stage 2 (4,514,480 ) 4,514,480 — — — From stage 2 to stage 1 114,996 (114,996 ) — — Net impact on expected credit loss by stage transfers (63,416 ) 988,721 — 925,305 Guarantee liabilities de-recognized (2,201,596 ) (4,336,572 ) — (6,538,168 ) Change in parameters of expected credit loss model 7,656,851 41,292 — 7,698,143 As of December 31, 2022 4,375,720 1,387,649 — 5,763,369 |
Convertible Promissory Note Pay
Convertible Promissory Note Payable | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Convertible Promissory Note Payable | 34 Convertible promissory note payable In October 2015, in connection with the acquisition of Gem Alliance Limited, the Company issued a convertible promissory note (the “Notes”) to China Ping An Insurance Overseas (Holdings) Limited (“PAOH”), a subsidiary of Ping An Group, in an aggregate principal amount of USD1,953.8 million. On the same date, PAOH agreed to transfer USD937.8 million of the principal amount of the Note and all rights, benefits and interests attached thereunder to An Ke Technology Company Limited (“An Ke”), a subsidiary of Ping An Group. The Note bears interest paid semi-annually at the rate of 0.7375% per annum. Subject to its terms and conditions, the holders of the Note have the right to convert the Notes into ordinary shares of the Company within the conversion period commencing on the listing day of the Company until the date which is five business days before (and excluding) the eighth anniversary of the issuance date of the Note at the conversion price of USD14.8869 per share, subject to certain anti-dilution adjustments if applicable. On August 31, 2020, the Company entered into an amendment and supplemental agreement with PAOH and An Ke. In accordance with this agreement, the holders of the Note could only exercise their conversion right one year after the Company’s listing date. This amendment did not have any material impact on the Group’s financial position and results of operations. On August 20, 2021, the Company, PAOH and An Ke entered into an amendment and supplemental agreement to the share purchase agreement and the Note (the “Third Amendment and Supplemental Agreement”). The Third Amendment and Supplemental Agreement amends the terms of the Note by extending the commencement of the conversion period of the Notes from the date which is one year after the date of the Company’s initial public offering to April 30, 2023. Each of PAOH and An Ke has the right in the manner provided in the Notes, as applicable, to convert the whole or any part of the outstanding principal amount of the Notes, as applicable, into ordinary shares of the Company. On December 6, 2022, the Company, PAOH and An Ke entered into an amendment and supplemental agreement (the “Fourth Amendment and Supplemental Agreement”) to amend the terms of the Notes, pursuant to which the Company agreed to redeem 50% of the outstanding principal amount of the Notes from PAOH and An Ke, and the parties agreed to extend the maturity date and the commencement date of the conversion period of the remaining 50% Notes. As a result, the remaining 50% outstanding principal amount of the Notes bear interest, unless otherwise agreed, at the rate of 0.7375% per annum of the principal amount of the Notes outstanding from time to time, which will be payable semi-annually until October 8, 2026. The Notes can be converted into the shares at any time from April 30, 2026 until the date which is five business days before (and excluding) October 8, 2026, at an initial conversion price of USD14.8869 per ordinary share subject to certain adjustments as set forth in the Notes (Note 45). Unless converted or purchased and canceled prior to the maturity date, the Company will redeem the Notes of their principal amounts together with accrued interests on the maturity date. The Group measured the liability component at initial recognition based on its best estimate of the present value of the redemption amount and recognized the residual to the equity component to reflect the value of conversion rights. Subsequent to initial recognition, the liability component of convertible promissory note payable measured at amortized cost using the effective interest rate method with interest expenses recorded in the finance costs. The equity component will not be re-measured Liabilities Equity RMB’000 RMB’000 Carrying value as of January 1, 2020 10,014,377 5,744,955 Interest accrued at effective interest rate 883,759 — Interest paid (92,981 ) — Exchange differences (687,967 ) — Carrying value as of December 31, 2020 10,117,188 5,744,955 Interest accrued at effective interest rate 893,001 — Interest paid (100,937 ) — Exchange differences (239,754 ) — Carrying value as of December 31, 2021 10,669,498 5,744,955 Interest accrued at effective interest rate 1,045,611 — Interest paid (115,879 ) — Redemption and extension of convertible promissory notes (a) (7,444,513 ) (5,584,770 ) Exchange differences 1,009,422 — Carrying value as of December 31, 2022 5,164,139 160,185 (a) Following the Fourth Amendment and Supplemental Agreement on December 6, 2022, the carrying values of liability and equity components in relation to original Notes were reversed due to extinguishment of original Notes and fair value of new Notes was recognized, giving rise to an increase of RMB174 million in financial costs and RMB6,210 million in share premium and a decrease of RMB5,585 million in other reserves. In consideration of the above redemption and the extension of the maturity date and taking into account the fair market value of the Notes determined by the independent valuers, pursuant to the Fourth Amendment and Supplemental Agreement, the Company agreed to pay PAOH and An Ke a total amount of approximately USD1,071 million (the “Consideration”) together with the unpaid interest accrued on the redeemed notes up to and including the effective date of the Fourth Amendment and Supplemental Agreement. The first tranche payment of the Consideration in the total amount of approximately USD536 million had been paid in December 2022. It is expected that the remaining Consideration would be paid in March 2023 or such other date(s) within one year after the effective date of the Fourth Amendment and Supplemental Agreement as mutually agreed by the Company, PAOH and An Ke. Additional interests shall accrue on the remaining Consideration at a rate of 6.5% per annum, accruing daily from and including the date after the modification date (ie. December 6, 2022) up to but excluding the date on which the unpaid consideration is paid. As of December 31, 2022, the total amount of unpaid considerat ion is |
Optionally Convertible Promisso
Optionally Convertible Promissory Notes | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of ordinary shares to be issued to the holders of optionally convertible promissory notes [Abstract] | |
Optionally convertible promissory notes | 35 Optionally convertible promissory notes On September 30, 2020, the Company issued optionally convertible promissory notes with a principal amount of USD1,158 million (equivalent of approximately RMB7,884 million) to certain holders of the Company’s Class C ordinary shares as part of the C-round six The Group measured the liability component of optionally convertible promissory notes at initial recognition based on its best estimate of the present value of the redemption amount and recognized the residual between the fair value of optionally convertible promissory notes and the fair value of the liability component to the equity component to reflect the value of conversion rights. Subsequent to initial recognition, the liability component of convertible promissory note is measured at amortized cost using effective interest rate method with interest expenses recorded in the finance costs. The equity component will not be re-measured Liabilities Equity RMB’000 RMB’000 Carrying value as of December 31, 2020 7,530,542 1,489,748 Interest accrued at effective interest rate 495,079 — Interest paid (446,953 ) — Exchange differences (173,565 ) — Carrying value as of December 31, 2021 7,405,103 1,489,748 Interest accrued at effective interest rate 521,747 — Interest paid (493,134 ) — Exchange differences 709,192 — Carrying value as of December 31, 2022 8,142,908 1,489,748 |
Other Liabilities
Other Liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Disclosures Of Other Liabilities [Abstract] | |
Other liabilities | 36 Other liabilities As of December 31, 2021 2022 RMB’000 RMB’000 Accrued expenses 2,173,256 1,617,983 Payable for other debt investments (a) — 261,851 Derivative financial liabilities (b) 25,772 — Provisions 110,930 112,584 Others 5,990 8,350 2,315,948 2,000,768 (a) Payable for other debt inv e (b) Foreign currency swaps As of December 31, 2021 (’000) Carrying amount RMB25,772 Notional amount USD170,000 Maturity date 01/09/2022 Pay side RMB Receive side USD |
Share Capital And Share Premium
Share Capital And Share Premium | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Share Capital And Share Premium [Abstract] | |
Share capital and share premium | 37 Share capital and share premium Class A ordinary share Class B ordinary share (a) Ordinary share Number of Share Share Number of Share Share Number of Share Share RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As of January 1, 2020 987,146,871 61 3,242,972 135,196,846 8 10,870,339 — — — Conversion of Class B ordinary shares and Class C ordinary shares to Class A ordinary shares (b) 136,859,460 8 11,278,459 (135,196,846 ) (8 ) (10,870,339 ) — — — Re-designation (1,124,006,331 ) (69 ) (14,521,431 ) — — — 1,124,006,331 69 14,521,431 Issuance of ordinary shares upon IPO and exercise of over-allotment option (d) — — — — — — 99,577,564 7 17,305,119 Conversion of automatically convertible promissory notes to ordinary shares (e) — — — — — — 7,566,665 1 1,386,876 As of December 31, 2020 — — — — — — 1,231,150,560 77 33,213,426 Retirement of ordinary shares (f) — — — — — — (35,644,803 ) (2 ) — Issuance of ordinary shares for share-based payment (g) — — — — — — 8,000,000 — — Exercise of share-based payment — — — — — — — — 152,360 As of December 31, 2021 — — — — — — 1,203,505,757 75 33,365,786 Exercise of share-based payment — — — — — — — — 127,063 Redemption and extension of convertible promissory notes (Note 34(a)) — — — — — — — — 6,209,598 Cash Dividend (Note 45) — — — — — — — — (7,628,573 ) As of December 31, 2022 — — — — — — 1,203,505,757 75 32,073,874 (a) Besides the liquidation preference, holders of Class B ordinary shares were entitled to voting rights and dividend rights similar to Class A ordinary shareholders. Class B ordinary shares were automatically converted into Class A ordinary shares upon the occurrence of a qualified listing. (b) Immediately prior to the Company’s successful IPO on October 30, 2020, all of the Company’s then issued and outstanding 135,196,846 Class B and 1,662,614 Class C ordinary shares were automatically converted into Class A ordinary shares on a one-for-one (c) Immediately prior to the Company’s successful IPO on October 30, 2020, all of the Company’s then issued and outstanding 1,124,006,331 Class A ordinary shares after the conversion of Class B and Class C ordinary shares were re-designated (d) On October 30, 2020, the Company issued and sold 87,500,000 ordinary shares in its IPO with every two ADSs representing one ordinary share. On December 1, 2020, upon partial exercise of the underwriters’ over-allotment options, the Company further issued and sold 12,077,564 ordinary shares. Upon issuance of ordinary shares for the IPO and for the exercise of the over-allotment option, par value of ordinary shares issued was recorded as share capital and the difference between the cash consideration raised as part of the IPO and the exercise of underwriters’ over-allotment options and par value recorded of RMB17,305 million was recorded as share premium. (e) Upon the Company’s successful IPO on October 30, 2020, the automatically convertible promissory notes were automatically converted into 7,566,665 ordinary shares at the IPO price of USD13.5 per ADS (USD27 per ordinary share) with par value of ordinary shares issued recorded as share capital and the difference between the then carrying value of automatically convertible promissory notes and par value recorded of RMB1,387 million was recorded as share premium. (f) The Company’s board of directors previously designated Tun Kung Company Limited, a principal shareholder of the Company, as the entity to hold 35,644,803 shares reserved under the share incentive plans of the Company, pursuant to authorization under the existing plans. (g) The Company issued 8 million shares for the future exercise of share-based payments during the year ended December 31, 2021, which amounted to RMB517. |
Treasury Shares
Treasury Shares | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Treasury Shares | 38 Treasury shares Shares Amount RMB’000 As of January 1, 2020 35,644,803 2 As of December 31, 2020 35,644,803 2 Repurchase of ordinary shares (a) 53,507,241 5,560,104 Retirement of ordinary shares (Note 37(f)) (35,644,803 ) (2 ) Issuance of ordinary shares for share-based payment (Note 37(g)) 8,000,000 — Exercise of share-based payment (b) (2,219,927 ) — As of December 31, 2021 59,287,314 5,560,104 Repurchase of ordinary shares (a) 1,447,513 82,665 Exercise of share-based payment (b) (3,223,040 ) — As of December 31, 2022 57,511,787 5,642,769 (a) In 2021, the Company’s board of directors authorized share repurchase programs under which the Company could repurchase up to an aggregate of USD1 billion of its shares during a specific period of time. As of December 31, 2022, the Company had repurchased 55.0 million shares for approximately RMB5,643 million under share repurchase programs. (b) For the year s |
Other Reserves
Other Reserves | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Other reserves [Abstract] | |
Other reserves | 39 Other reserves Employee compensation reserve Translation General reserve Value of (Note 35) Value of conversion redeemable preferred Value of rights - convertible (Note 34) Capital reserve and Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As of January 1, 2020 451,325 (467,819 ) 223,712 — 230,006 5,744,955 (1,599,888 ) 4,582,291 C-round — — — 1,489,748 (219,738 ) — 25,648 1,295,658 Conversion of Class C ordinary shares to ordinary shares upon IPO — — — — (10,268 ) — — (10,268 ) Foreign operation translation difference — 614,399 — — — — — 614,399 Appropriation to general reserve — — 772,466 — — — — 772,466 Share-based payment 164,164 — — — — — — 164,164 As of December 31, 2020 615,489 146,580 996,178 1,489,748 — 5,744,955 (1,574,240 ) 7,418,710 Employee compensation reserve Translation General reserve Value of (Note 35) Value of rights - convertible (Note 34) Capital reserve and Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As of January 1, 2021 615,489 146,580 996,178 1,489,748 5,744,955 (1,574,240 ) 7,418,710 Exercise of share-based payment (72,709 ) — — — — — (72,709 ) Foreign operation translation difference — 28,402 — — — — 28,402 Appropriation to general reserve — — 1,789,034 — — — 1,789,034 Share-based payment 132,071 — — — — — 132,071 Acquisition of non-controlling — — — — — 9,487 9,487 As of December 31, 2021 674,851 174,982 2,785,212 1,489,748 5,744,955 (1,564,753 ) 9,304,995 Employee compensation reserve Translation General reserve Value of (Note 35) Value of rights - convertible (Note 34) Capital reserve and Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As of January 1, 2022 674,851 174,982 2,785,212 1,489,748 5,744,955 (1,564,753 ) 9,304,995 Exercise of share-based payment (68,110 ) — — — — — (68,110 ) Foreign operation translation difference — (1,581,252 ) — — — — (1,581,252 ) Appropriation to general reserve — — 42,078 — — — 42,078 Share-based payment 45,491 — — — — — 45,491 Redemption and extension of convertible promissory notes (Note 34(a)) — — — — (5,584,770 ) — (5,584,770 ) As of December 31, 2022 652,232 (1,406,270 ) 2,827,290 1,489,748 160,185 (1,564,753 ) 2,158,432 |
Retained Earnings
Retained Earnings | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Retained earnings | 40 Retained earnings In accordance with the relevant laws and regulations, each of the Company’s subsidiaries, the Consolidated Affiliated Entities and Subsidiaries of Consolidated Affiliated Entities incorporated in the PRC is required to annually appropriate 10% of its after-tax |
Commitment
Commitment | 12 Months Ended |
Dec. 31, 2022 | |
Disclosures Of Commitments [Abstract] | |
Commitment | 41 Commitment (a) Financing guarantee commitments The Group provides financing guarantees services to individuals and small and micro-business owners who successfully obtain loans through the Group’s platform. The following table sets forth the balance of such commitment under the financing guarantee contracts for which the Group does not consolidate the underlying loans. The maximum exposure to credit risk before collateral held or other credit enhancements is depicted in note 4.1.2. All credit risk exposure of financing guarantee contracts have accrued corresponding ECL allowance (Note 33). As of December 31, 2021 2022 RMB’000 RMB’000 Financing guarantee commitments 64,731,369 68,502,938 |
Note to Consolidated Statements
Note to Consolidated Statements of Cash flows | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of reconciliation from profit before income tax to cash used in operating activities [Abstract] | |
Note to consolidated statements of cash flows | 42 Note to consolidated statements of cash flows (a) Reconciliation from profit before income tax expenses to cash generated from operating activities: Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Profits before income tax 17,909,505 23,400,178 13,013,271 Adjustments for: Depreciation of property and equipment 226,862 193,511 177,799 Depreciation of right-of-use 604,018 608,889 578,014 Amortization of intangible assets 31,831 22,234 15,325 Share of loss/(profit) of associates and joint ventures (14,837 ) 31,143 218 Net gains on sale of property and equipment, and intangible assets 184 6,681 24,256 Net unrealized losses on financial assets at fair value through profit or loss 558,044 483,356 212,297 Non-cash 165,248 133,395 45,919 Asset impairment losses 7,168 1,100,882 427,108 Credit impairment losses 2,768,499 5,658,259 11,956,103 Finance cost classified as financing activities 3,137,737 1,808,050 2,502,008 Investment income classified as investing activities (1,127,006 ) (1,592,319 ) (1,460,167 ) Foreign exchange losses/(gains) (192,337 ) (206,753 ) 877,232 24,074,916 31,647,506 28,369,383 Change in operating assets and liabilities, net of effects from purchase of controlled entity: Decrease/(increase) in loans to customers and accounts and other receivables (68,897,073 ) (101,160,641 ) 10,415,490 Increase/(decrease) in accounts and other payables 56,166,868 82,508,406 (24,054,567 ) 11,344,711 12,995,271 14,730,306 (b) Net increase in cash and cash equivalents Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Cash and cash equivalents at the end of the year 23,785,651 26,496,310 29,537,511 Less: Cash and cash equivalents at the beginning of the year (7,312,061 ) (23,785,651 ) (26,496,310 ) Net increase in cash and cash equivalents 16,473,590 2,710,659 3,041,201 (c) Cash and cash equivalents Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Cash at bank (Note 16) 24,158,568 34,743,188 43,882,127 Less: Time deposits with original maturities of more than 3 months (373,102 ) (8,250,270 ) (14,346,731 ) Add: Provision for impairment losses 185 3,392 2,115 Cash and cash equivalents at the end of the year 23,785,651 26,496,310 29,537,511 (d) Net debt reconciliation This section sets out an analysis of net debt and the movements in net debt for each of the years ended December 31, 2020, 2021 and 2022. Borrowings Bond payable Convertible Convertible Lease Optionally Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As of January 1, 2020 2,989,862 — 10,014,377 10,258,898 939,089 — 24,202,226 Cash flows 7,583,729 — (92,981 ) (928,242 ) (596,575 ) — 5,965,931 C-round — — — (9,234,748 ) — 7,762,475 (1,472,273 ) Conversion of Class C ordinary shares to ordinary shares upon IPO — — — (367,916 ) — — (367,916 ) Acquisitions-leases — — — — 653,251 — 653,251 Disposals-leases — — — — (62,913 ) — (62,913 ) Foreign exchange adjustments (469,452 ) — (687,967 ) (262,678 ) — (359,442 ) (1,779,539 ) Accrued expense 211,306 — 883,759 534,686 46,567 127,509 1,803,827 As of December 31, 2020 10,315,445 — 10,117,188 — 979,419 7,530,542 28,942,594 Cash flows 15,242,903 — (100,937 ) — (663,160 ) (446,953 ) 14,031,853 Acquisitions-leases — — — — 501,663 — 501,663 Disposals-leases — — — — (62,087 ) — (62,087 ) Foreign exchange adjustments (227,077 ) — (239,754 ) — — (173,565 ) (640,396 ) Accrued expense 596,146 — 893,001 — 38,709 495,079 2,022,935 As of December 31, 2021 25,927,417 — 10,669,498 — 794,544 7,405,103 44,796,562 Cash flows 8,675,099 2,010,782 (3,863,265 ) — (604,172 ) (493,134 ) 5,725,310 Redemption of convertible promissory notes — — (3,697,127 ) — — — (3,697,127 ) Acquisitions-leases — — — — 589,488 — 589,488 Disposals-leases — — — — (72,455 ) — (72,455 ) Foreign exchange adjustments 772,437 75,524 1,009,422 — — 709,192 2,566,575 Accrued expense 1,540,560 57,042 1,045,611 — 41,402 521,747 3,206,362 As of December 31, 2022 36,915,513 2,143,348 5,164,139 — 748,807 8,142,908 53,114,715 |
Share-based Payment
Share-based Payment | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of terms and conditions of share-based payment arrangement [abstract] | |
Share-based payment | 43 Share-based payment The employees of the Group participate in share-based compensation plans under which share options and PSUs may be granted. (a) Share options In December 2014 and August 2015, the Board of Directors of the Company approved the establishment of the Phase I Share Incentive Plan (the “2014 Plan”) and the Phase II Share Incentive Plan (the “2015 Plan”) to grant a maximum of 20,644,803 Class A ordinary shares and maximum of 25,000,000 Class A ordinary shares. respectively. The shares reserved for grants under the two plans were treated as treasury shares in the consolidated financial statements. Options granted under the 2014 Plan and 2015 Plan are valid and effective for 10 years from the date of grant and generally vest evenly over four years. The Group originally determined that the vesting period would commence no later than the grant date and would end either on the date 6 months after the IPO date or on the service condition ending date, whichever was later. Before the IPO, the Group revised the vesting period to reflect the best available estimate of the IPO date. Before the successful IPO, any change in the estimate of the IPO date resulted in an adjustment of share-based compensation expenses on cumulative basis in the period when such change was made. The Group does not have statutory or constructive obligations to purchase or repay options by cash. The following table sets forth the changes in the number of outstanding options and the weighted average exercise prices: Average exercise Number of options Outstanding as of January 1, 2020 74.99 25,344 Forfeited during the year 79.23 (3,884 ) As of December 31, 2020 74.22 21,460 Forfeited during the year 91.64 (1,702 ) Exercised during the year 41.43 (1,937 ) As of December 31, 2021 76.12 17,821 Exercised during the period 20.28 (2,821 ) As of December 31, 2022 86.62 15,000 The Company recognized RMB95 million, RMB4 million and RMB27 million in expenses related to share options in 2020, 2021 and 2022, respectively. No options expired during the periods covered by the above table. The weighted-average remaining contract life for outstanding share options was Number of options Exercise price per share option 8.00 535 50.00 3,738 98.06 7,905 118.00 2,822 15,000 No share options were granted for the years ended December 31, 2020, 2021 and 2022. (b) PSUs On September 4, 2019, the Board of Directors of the Company approved the establishment of the 2019 Performance Share Unit Plan (“2019 Plan”) to grant a maximum of 15,000,000 Class A ordinary shares which were reallocated from the 2015 Plan. Such shares were issued to Tun Kung Company Limited on December 24, 2019 and were treated as treasury shares in the consolidated financial statements. On July 21, 2021, the Company’s board of directors approved and authorized the Company to repurchase an aggregate of 35,644,803 shares, which included shares relating to the 2014 Plan, the 2015 Plan and the 2019 Plan, from Tun Kung Company Limited at par value. For the year s The following table sets forth the changes in the number of PSUs and weighted average exercise prices: Weighted average grant day fair value Number of units (in ’000) Outstanding as of January 1, 2021 140.87 1,958 Granted during the year 82.60 1,590 Exercised during the year 141.69 (283 ) Forfeited and other change during the year 152.70 (223 ) Outstanding as of December 31, 2021 109.47 3,042 Granted during the year 60.78 40 Exercised during the year 112.47 (402 ) Forfeited and other change during the year 286.29 (325 ) Outstanding as of December 31, 2022 83.73 2,355 For the year s The Group determined the underlying equity fair value of the Company based on its stock price as of the grant date. Based on fair value of the underlying equity, the Group uses Monte Carlo Simulation model to determine the fair value of the share unit as of the grant date. The risk-free rate was estimated based on the yield of the U.S treasury bond with a maturity date similar to the maturity date of the share unit plus the country risk premium of China. Volatility was estimated at grant date based on the average of the historical volatilities of the comparable companies over a period of time commensurable in length to the time to maturity of the share unit. Dividend yield was estimated based on management’s best estimate at the grant date. The following table sets forth the key assumptions used in the Monte Carlo Simulation model for the share units granted during the years ended December 31, 2021 and 2022. PSUs granted in Year ended December 31, 2021 2022 Risk-free rate 0.94%-1.70% 1.36%-3.37% Expected volatility rate 55.40%-59.70% 55.40%-60.05% Expected dividend yield 0.00%-3.00% 0.00%-3.01% |
Related parties and related par
Related parties and related party transactions | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Related parties and related party transactions | 44 Related parties and 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 table sets forth the major related parties which have major transactions with the Group during the years ended December 31, 2020, 2021 and 2022: Name of related parties Relationship with the Company Ping An Insurance (Group) Company of China, Ltd. Significant influence on the Group and its subsidiaries 44.1 Significant transactions with related parties The following are the significant related party transactions and balances during the period and as of period end: Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Technology platform based income Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 635,143 1,414,885 1,529,485 Other income Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 1,234,616 3,538,974 1,053,718 Investment income Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 261,148 594,446 338,252 Finance costs-Interest income Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 147,638 247,238 281,130 Finance costs-Interest expense Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 67,468 6,151 25,435 Sales and marketing expenses, general and administrative expenses, operation and servicing expenses, and technology and analytics expenses Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 3,090,052 3,294,358 2,919,391 Other gains/(losses) – net Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries (499,543 ) (211,674 ) 350,329 Technology platform based income Ping An Group is a product provider of the Group’s technology platform. The investment products provided by Ping An Group primarily include private investment funds, insurance products, bank products, trust plans and bank products. Fees are collected from Ping An Group for facilitation of investment products offered on the Group’s technology platform. The Group generally receives service fees based on a certain percentage of the volume of investment products facilitated and loans made by Ping An Group. Such fee is recognized upon successful facilitation. Other income Other income mainly comprises income for the account management services provided by the Group to Ping An Group. The Group generally receives the service fees monthly based on the number of accounts managed and the performance of the underlying loans managed by the Group for Ping An Group. In September 2022, the account management service contracts with Ping An P&C were revised as a result of worse-than-expected loan performance. Based on the negotiation with Ping An P&C, the Group agreed to revise the contract and refunded RMB440 million to Ping An P&C and charged the account management fees based on loan performance after September 2022. Net interest income – Interest expense The interest expense mainly consists of interest paid for borrowings from Ping An Group. These borrowings were used to providing funding for on-balance Investment income Investment income mainly consists of investment return received by the Group on investment products issued or managed by Ping An Group. Finance costs Ping An Group provides deposit services and financing services to the Group. Finance costs include interest paid to Ping An Group for borrowings used for businesses other than the retail credit and enablement business, interest paid to Ping An Group for its subscription in the consolidated wealth management products managed by the Group and interest income received from Ping An Group for cash deposited by the Group in Ping An Group. The finance cost is calculated based on the effective interest rates on the outstanding balances. Sales and marketing expenses, general and administrative expenses, operation and servicing expenses, and technology and analytics expenses Ping An Group provides a wide spectrum of services to the Group, including but not limited to: (1) accounting processing and data communication services; (2) transaction settlement and custodian service; (3) office premise rental services; (4) technology support; and (5) HR support. The Group, in return, pays service fees to Ping An Group. The precise scope of service, service fees calculation, method of payment and other details of the service arrangement are agreed between the relevant parties separately. The services fees paid by the Group to Ping An Group are determine through a bidding procedure according to the internal policies and procedures of the Group. if no tendering and bidding process is required under the Group’s internal policies, they are determined through mutual negotiations between the two parties based on historical fees of such services and comparable market rates. Other gains/(losses)—net Other gains/(losses) – net mainly consist of foreign exchange losses due to the foreign exchange swaps provided by Ping An Group. Leases Part of the right-of-use Convertible promissory note payable Ping An Group also held a convertible promissory note issued by the Company, which is disclosed in Note 34. Purchase of financial assets The Group purchased certain assets management plans, trust plans, mutual funds, private fund and other equity investments, bank wealth management products and corporate bonds managed and/or issued by Ping An Group. Please refer to Note 4.3 for the Group’s maximum exposure related to these investments. 44.2 Year end balances with related parties As of December 31, 2021 2022 RMB’000 RMB’000 Trade related (i) Cash Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 9,648,043 14,316,239 Account and other receivables and contract assets Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 1,386,252 1,310,245 Accounts and other payables and contract liabilities and other liabilities Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 723,646 560,888 As of December 31, 2021 2022 RMB’000 RMB’000 Non-trade related Account and other receivables and contract assets and other assets Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 1,665,875 1,641,361 Payable to platform investors, accounts and other payables and contract liabilities and other liabilities Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 78,102 3,839,817 Financial assets at amortized cost Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 1,279,156 2,504,622 Borrowings Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries — 820,716 Financial assets at fair value through profit or loss Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 3,500,726 — (i) The balances with related parties were unsecured, interest-free and repayable on demand. In 2022, the Company has paid cash dividends to An Ke Technology Company Limited and Ping An Insurance Overseas (Holdings) Limited, which amounting USD291 million and USD194 million, respectively. (ii) These non-trade balances with related parties were mainly for treasury management purpose which are collectable or repayable on demand or within one year. The Company does not plan to settle all non-trade nature 44.3 Key management personnel compensation Key management includes directors (executive and non-executive) Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Wages and salaries 29,192 26,728 21,081 Welfare and other benefits 34,560 29,804 16,038 Including: Bonuses 28,061 24,066 8,617 Share-based payment 68,771 56,317 22,719 132,523 112,849 59,838 |
Dividends
Dividends | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Dividends | 45 Dividends No dividend was paid by the Company during the years ended December 31, 2020 and 2021. On November 8, 2021, the Company’s board of directors approved an annual cash dividend policy. Under the policy, starting from 2022, the Company would declare and distribute a recurring cash dividend at an amount range from 20% to 40% of the consolidated net profit in the previous fiscal year. Whether to make dividend distributions and the exact amount of such distributions in any particular year would be based upon the Company’s operations and earnings, cash flow, financial condition and other relevant factors, and subject to adjustment and determination by the board of directors. On August 3, 2022, the Company’s board of directors approved a semi-annual cash dividend policy to replace its existing dividend policy. On March 7, 2022, the Company’s board of directors approved and declared a cash dividend of USD0.68 per ordinary share based on the Company’s outstanding shares to shareholders on record as of the close of trading on the New York Stock Exchange on April 8, 2022, which amounting to 1,144,226,418 shares. This annual dividend was paid in April 2022. On August 3, 2022, the Company’s board of directors approved an interm cash dividend of USD0.34 per ordinary share for the six-month The dividend declaration triggered an anti-dilution adjustment to the conversion price and the adjusted conversion prices of Notes and optionally convertible promissory notes were USD13.45 and USD28.33 per ordinary share respectively following the dividend declarations. |
Contingent liability
Contingent liability | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Contingent liability | 46 Contingent liability Other than as disclosed in the previous notes (Note 41), the Group did not have any significant contingent liability as of December 31, 2021 and 2022. |
Benefits and interests of direc
Benefits and interests of directors | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Benefits And Interest Of Directors [Abstract] | |
Benefits and interests of directors | 47 Benefits and interests of directors The remuneration of each director of the Company includes director’s fees, salaries and bonuses, social security and housing fund, other benefits, and non-monetary The director’s fee, salaries and bonuses, social security and housing fund and other benefits incurred by the Group for the years ended December 31, 2020, 2021 and 2022 are set out as follows: Year ended December 31, 2020: Name Director’s fee Salaries and bonuses Social security and housing fund Other Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Executive Directors: Cho Yong Suk — 9,750 30 2,239 12,019 Gregory Dean Gibb — 8,880 65 2,156 11,101 Ji Guangheng — 10,375 26 297 10,698 Li Renjie — 10,100 — 522 10,622 Non-Executive Zhang Xudong 400 — — — 400 Li Weidong 400 — — — 400 Kwong Che Keung Gordon 224 — — — 224 Ha Jiming 1,957 — — — 1,957 Yang Rusheng 176 — — — 176 Sin Yin Tan — — — — — Jason Bo Yao — — — — — Law Eddie Siu Wah — — — — — Ip So Lan — — — — — Ahmed Ali Al-Hammadi — — — — — Peter Jurdjevic — — — — — 3,157 39,105 121 5,214 47,597 Year ended December 31, 2021: Name Director’s fee Salaries and bonuses Social security and housing fund Other Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Executive Directors: Cho Yong Suk — 14,070 74 2,147 16,291 Gregory Dean Gibb — 8,410 74 1,963 10,447 Ji Guangheng — 12,090 83 523 12,696 Li Renjie — 667 — 175 842 Non-Executive Zhang Xudong 500 — — — 500 Li Weidong 500 — — — 500 Ha Jiming 164 — — — 164 Yang Rusheng 500 — — — 500 Tang Yunwei 458 — — — 458 Li Xianglin 458 — — — 458 Sin Yin Tan — — — — — Jason Bo Yao — — — — — Law Eddie Siu Wah — — — — — Peter Jurdjevic — — — — — Li Rui — — — — — 2,580 35,237 231 4,808 42,856 Year ended December 31, 2022: Name Director’s fee Salaries and bonuses Social security and housing fund Other Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Executive Directors: Cho Yong Suk — 7,750 82 2,242 10,074 Gregory Dean Gibb — 4,580 76 2,433 7,089 Ji Guangheng — 2,673 23 87 2,783 Non-Executive Zhang Xudong 500 — — — 500 Li Weidong 500 — — — 500 Yang Rusheng 500 — — — 500 Tang Yunwei 448 — — — 448 Li Xianglin 500 — — — 500 Li Rui — — — — — Ou Hanjie — — — — — Cai Fangfang — — — — — Fu Xin — — — — — Huang Yuqiang — — — — — 2,448 15,003 181 4,762 22,394 Other non-monetary |
Parent company only condensed f
Parent company only condensed financial information | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Parent company only condensed financial information | 48 Parent company only condensed financial information Parent company only financial statements include condensed financial information as to statements of financial position, cash flows and comprehensive income of a parent company as of the same dates and for the same periods for which the consolidated financial statements have been presented. The Company did not have significant capital and other commitments or guarantees as of December 31, 2022. The subsidiaries did not pay any dividend to the Company for the periods presented. (a) Investments accounted for using the equity method As of December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Investments in subsidiaries 77,046,809 95,412,806 106,249,382 Investments in associates 489,931 459,496 39,271 77,536,740 95,872,302 106,288,653 Condensed Statements of Comprehensive Income Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Investment income 113,793 60,006 38,695 Income from subsidiaries and VIEs 15,149,508 18,035,463 10,683,088 Total income 15,263,301 18,095,469 10,721,783 General and administrative expenses (91,233 ) (113,056 ) (113,983 ) Credit impairment losses (6,314 ) 2,210 6,972 Finance costs (2,901,518 ) (1,380,292 ) (1,753,486 ) Other gains/(losses) - net 89,878 202,562 (161,917 ) Total expenses (2,909,187 ) (1,288,576 ) (2,022,414 ) Income before income tax expenses 12,354,114 16,806,893 8,699,369 Less: Income tax expenses — (2,513 ) — Net profit for the year 12,354,114 16,804,380 8,699,369 Net profit attributable to: Owners of the Company 12,354,114 16,804,380 8,699,369 Other comprehensive income/(loss), net of tax: -Exchange differences on translation of foreign operations 614,399 28,402 (1,581,252 ) Total comprehensive income for the year 12,968,513 16,832,782 7,118,117 Total comprehensive income attributable to: Owners of the Company 12,968,513 16,832,782 7,118,117 Condensed Statements of Financial Position As of December 31, Note 2021 2022 RMB’000 RMB’000 ASSETS Cash at bank 16 1,813,616 1,644,302 Financial assets at fair value through profit or loss 17 383,888 767,636 Financial assets at amortized cost 18 8,846,623 155,602 Accounts and other receivables and contract assets 20 4,641,662 1,627,343 Investments accounted for using the equity method 48(a) 95,872,302 106,288,653 Total assets 111,558,091 110,483,536 LIABILITIES Borrowings 29 319,926 139,054 Accounts and other payables and contract liabilities 31 74,928 3,803,643 Convertible promissory note payable 34 10,669,498 5,164,139 Optionally convertible promissory notes 35 7,405,103 8,142,908 Other liabilities 34,941 43,946 Total liabilities 18,504,396 17,293,690 EQUITY Share capital 37 75 75 Share premium 37 33,365,786 32,073,874 Treasury shares 38 (5,560,104 ) (5,642,769 ) Other reserves 39 9,304,995 2,158,432 Retained earnings 55,942,943 64,600,234 Total equity 93,053,695 93,189,846 Total liabilities and equity 111,558,091 110,483,536 Condensed Statements of Cash Flows Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Cash flows from operating activities Cash used in operating activities (98,869 ) (105,253 ) 166,134 Net cash generated from/(used in) operating activities (98,869 ) (105,253 ) 166,134 Cash flows from investing activities Capital contribution to consolidated entities (1,898,193 ) (109,635 ) — Payment for advances to consolidated entities (9,456,072 ) (3,689,678 ) (160,000 ) Receipts of repayments of the advances and capital return from consolidated entities 2,374,680 7,249,502 12,450,046 Proceeds and interest from sale of investment assets 1,875 6,522 419,538 Payment for acquisition of investment assets — (383,798 ) (764,885 ) Net cash generated from/(used in) investing activities (8,977,710 ) 3,072,913 11,944,699 Cash flows from financing activities Proceeds from issuance of shares and other equity securities 17,343,739 — — Proceeds from exercise of share-based payment — 43,456 95,911 Proceeds from borrowings — 319,535 134,228 Repayment of borrowings (1,128,036 ) (369,929 ) (374,464 ) Repayment of convertible promissory note payable — — (3,747,386 ) Payment for interest expenses (1,034,617 ) (555,304 ) (621,246 ) Payment for dividend declared — — (7,717,474 ) Payment for repurchase of ordinary shares — (6,438,455 ) — Other financing activities (4,745 ) (1,131 ) — Net cash generated from/(used in) financing activities 15,176,341 (7,001,828 ) (12,230,431 ) Effect of exchange rate changes on cash and cash equivalents (336,426 ) (62,027 ) (49,716 ) Net increase/(decrease) in cash and cash equivalents 5,763,336 (4,096,195 ) (169,314 ) Add: Cash and cash equivalents at the beginning of the year 146,475 5,909,811 1,813,616 Cash and cash equivalents at the end of the year 5,909,811 1,813,616 1,644,302 |
Subsequent events
Subsequent events | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Subsequent events | 49 Subsequent events On March 9, 2023, the board of directors of the Company has approved a revised semi-annual cash dividend policy to replace its existing dividend policy. Under the revised dividend policy, starting from 2023, the Company will declare and distribute a recurring cash dividend semi-annually in which the aggregate amount of the semi-annual dividend distributions for each year is equivalent to approximately 20% to 40% of the Company’s net profit in such fiscal year, or as otherwise authorized by the board of directors. The determination to make dividend distributions and the exact amount of such distributions in any particular semi-annual period will be based upon the Company’s operations and earnings, cash flow, financial condition, and other relevant factors, and subject to adjustment and determination by the board of directors. On the same day, the board of directors of the Company has approved a cash dividend of USD0.10 per ordinary share for the six-month period ended December 31, 2022, on the Company’s outstanding shares to shareholders of record as of the close of trading on the New York Stock Exchange on April 7, 2023. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
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Basis of preparation | 3.1 Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (“IFRS”) 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 and liabilities (including derivative instruments) at fair value through profit or loss, which are carried at fair value. 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 5 below. New and amended standards and interpretations adopted by the Group The Group has applied the following standards and amendments for the first time for its consolidated financial statements period commencing January 1, 2022: • Onerous Contracts – Cost of Fulfilling a Contract – Amendments to IAS 37 • Reference to the Conceptual Framework – Amendments to IFRS 3 • Property, Plant and Equipment: Proceeds before intended use – Amendments to IAS 16 • IFRS 9 Financial Instruments, IFRS 16 Leases, IAS 41 Agriculture – Annual Improvements to IFRS Standards 2018–2020 • Amendment to IFRS 16, ‘Leases’ – Covid-19 • IFRIC Agenda decision – Lessor forgiveness of lease payments (IFRS 9 and IFRS 16) The adoption of standards and amendments listed above did not have any impact on the amounts recognized in prior periods and are not expected to significantly affect the current or future periods. New and amended standards and interpretations not yet adopted by the Group Certain new accounting standards and interpretations have been published that are not mandatory for the year ended December 31, 2022 reporting periods and have not been early adopted by the Group. Effective for the annual IFRS 17 Insurance contracts January 1, 2023 Amendments to IAS 1 and IFRS Practice Statement 2 Disclosure of Accounting Policies January 1, 2023 Amendments to IAS 8 Definition of Accounting Estimates January 1, 2023 Amendments to IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction January 1, 2023 Amendment to IFRS 16 Leases on sale and leaseback January 1, 2024 Amendment to IAS 1 Non current liabilities with covenants January 1, 2024 Amendments to IAS 1 Classification of Liabilities as Current or Non-current January 1, 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 Group does not expect the adoption of these standards and interpretations will have a significant impact on the Group’s financial position or performance. |
Principles of consolidation and equity accounting | 3.2 Principles of consolidation and equity accounting 3.2.1 Subsidiaries Subsidiaries are all entities (including consolidated structured entities as stated in Note 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. Investments in subsidiaries are accounted for using the equity method of accounting. The acquisition method of accounting is used to account for business combinations by the Group (refer to Note 3.4). Intra-group transactions, balances and unreleased gains on transactions between group companies are eliminated. Unrealized losses are also eliminated unless the transaction provides evidence of an impairment of the transferred assets. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. Non-controlling 3.2.2 Associates 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. 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 investments in associates include goodwill identified on acquisition, net of any accumulated impairment loss. Upon the acquisition of the ownership interest in an associate, any difference between the cost of the associate and the Group’s share of the net fair value of the associate’s identifiable assets and liabilities is accounted for as goodwill. If the ownership interest in an associate 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 statements of comprehensive income, and its share of post-acquisition movements in other comprehensive income is recognized in other comprehensive income or loss. The cumulative post-acquisition movements are adjusted against the carrying amount of the investment. When the Group’s share of losses in an associate equals or exceeds its interest in the associate, 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 associate. The Group determines at each reporting date whether there is any objective evidence that the investment in the associate is impaired. If this is the case, the Group calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value and recognizes the amount adjacent to ‘share of profit of investments accounted for using equity method’ in the consolidated statement of comprehensive income. Profits and losses resulting from upstream and downstream transactions between the Group and its associates are recognized in the Group’s financial statements only to the extent of unrelated investors interests in the associates. 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 associates are recognized in the consolidated statement of comprehensive income. |
Structured entities | 3.3 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 directly by means of contractual or related arrangements. The Group determines whether it is an agent or principal in relation to those structured entities in which the Group acts as an asset manager based on management’s judgment. If an asset manager is an agent, it acts primarily on behalf of others and so does not control the structured entity. It may be the principal if it acts primarily for itself, and therefore controls the structured entity. With respect to the Consolidated Affiliated Entities, the Group acts as a principal and the determination of the consolidation of the Consolidated Affiliated Entities is set out in Note 2. The unconsolidated structured entities to which the Group has exposure is set out in Note 4.3. |
Business combination | 3.4 Business combination The Group applies the acquisition method to account for business combinations. The consideration transferred for the acquisition of a subsidiary is the fair value 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 acquisition-by-acquisition Non-controlling non-controlling 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 re-measurement 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 non-controlling |
Segment reporting | 3.5 Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker, who is responsible for allocation of resources and assessing performance of the operating segments and make 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 as a whole. For the purpose of internal reporting and management’s operation review, management personnel operate a core retail credit and enablement business, consumer finance loan business and lujintong referral business. Due to materiality, the Group has only one reporting segment. In addition, the Group does not distinguish between markets or segments for the purpose of internal reporting. As the Group’s assets and liabilities are substantially all located in the PRC, substantially all revenues are earned and substantially all expenses are incurred in the PRC, and accordingly, no geographical segments are presented. |
Foreign currency translation | 3.6 Foreign currency translation (i) 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 (“USD”). The RMB is the functional currency of the subsidiaries in the PRC. As the major operations of the Group are within the PRC, the Group determined to present its consolidated financial statement in RMB (unless otherwise stated). (ii) 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 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 gains/ (losses). Non-monetary non-monetary non-monetary (iii) Group companies The results and financial position of all foreign operations (none of which has the currency of a hyper- inflationary 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. |
Cash and cash equivalents | 3.7 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, and 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. |
Financial assets | 3.8 Financial assets (i) Recognition The Group recognizes a financial asset or a financial liability in its statement of financial position when, and only when, it becomes a party to the contractual provisions of the instrument. 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 incremental and directly attributable to the acquisition or issue of the financial asset. Transaction costs of financial assets carried at fair value through profit or loss are expensed in profit or loss. (ii) Classification and Measurement The Group classifies its financial assets in the following measurement categories, which depends on the Group’s business model for managing the financial assets and the contractual terms of the cash flows: • those to be measured at amortized cost (“AC”); • those to be measured at fair value through other comprehensive income (“FVOCI”); or • those to be measured at fair value through profit or loss (“FVPL”). The Group determines the classification of debt investments according to its business model and the contractual cash flow characteristics of the financial assets. The investments are classified as FVPL if the cash flows cannot pass solely payments of principal and interest on the principal amount testing. Otherwise, the classification depends on the business model. For investments in equity instruments, investments are classified as FVPL in general, except those designated as the equity investment at FVOCI. As of December 31, 2021 and 2022, the Group did not hold any financial assets measured as FVOCI. Debt instruments Debt instruments are those instruments that meet the definition of a financial liability from the issuer’s perspective, such as loans, government and corporate bonds. 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, and that are not designated at FVPL are measured at amortized cost. Interest income from these financial assets is included in interest income using the effective interest rate method. Any gain or loss arising from derecognition or impairment is recognized directly in profit or loss. Such assets held by the Group mainly include cash at bank, accounts and other receivables, financial assets at amortized cost, financial assets purchased under reverse repurchase agreements, and loans to customers. Purchased or originated credit-impaired financial assets (“POCI”) are those financial assets that are credit- impaired on initial recognition whose interest income is calculated by applying the effective interest rate to the net carrying amount of the financial asset. • 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, and that are not designated as FVPL are measured at FVOCI. Movements in the carrying amount are taken through other comprehensive income, except for the recognition of impairment gains or losses, interest revenue and foreign exchange gains and losses which are recognized in profit or loss. When the financial asset is derecognized, the cumulative gain or loss on the instrument’s amortized cost previously recognized in other comprehensive income is reclassified from equity to profit or loss. Interest income from these financial assets is included in interest income using the effective interest rate method. • FVPL: Assets that do not meet the criteria for amortized cost or FVOCI are measured at FVPL. The gains or losses arising from fair value changes on the debt investments measured at FVPL are recognized in profit or loss. Equity instruments The Group subsequently measures all equity instruments at fair value. Where the Group’s management has elected to present fair value gains and losses on equity instruments in OCI, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends representing a return on such equity instruments continue to be recognized in profit or loss when the Group’s right to receive payments is established. Financing guarantee contracts After initial recognition, an issuer of such a contract shall subsequently measure it at the higher of: • the amount of the loss allowance determined in accordance with Note 3.8(iii) and • the amount initially recognised less, when appropriate, the cumulative amount of income recognised in accordance with the principles of IFRS 15. (iii) Impairment Expected credit loss (“ECL”) 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 assesses on a forward-looking basis the expected credit losses associated with its debt instruments carried at amortized cost, with the exposure arising from loan commitments and financing guarantee contracts that are not in the scope of “Insurance Contracts”. A number of significant judgments are also required in applying the accounting requirements for measuring ECL, such as: • Choosing appropriate models and assumptions for the measurement of ECL including exposure at default (“EAD”), probability of default (“PD”), loss given default (“LGD”), etc. • Determining criteria for significant increase in credit risk; • Establishing the number and relative weightings of forward-looking scenarios for the associated ECL. For the financial instruments subject to ECL measurement, the Group assesses the significant increase in credit risk since initial recognition or whether an asset is considered to be credit impaired, “Three-stage” expected credit loss models are established and staging definition are set for each of these financial assets class. Incorporating forward-looking information, expected credit losses for financial assets are recognized in different stages. Stage 1: A financial instrument that is not credit-impaired on initial recognition is classified in “Stage 1” and has its credit risk continuously monitored by the Group. The impairment provision is measured at an amount equal to the 12-month Stage 2: If a significant increase in credit risk (“SICR”) since initial recognition is identified, the financial instrument is moved to “Stage 2” but is not yet deemed to be credit-impaired. The impairment provision is measured based on expected credit losses on a lifetime basis. Stage 3: If the financial instrument is credit-impaired, the financial instrument is then moved to “Stage 3”. The impairment provision is measured based on expected credit losses on a lifetime basis. For the financial instruments in Stage 1 and Stage 2, the Group calculates the interest income based on its gross carrying amount (i.e. amortized cost) before adjusting for impairment provision using the effective interest method. For the financial instruments in Stage 3, the interest income is calculated based on the carrying amount of the asset, net of the impairment provision, using the effective interest method. Financial assets that are originated or purchased credit impaired are financial assets that are impaired at the time of initial recognition, and the impairment provision for these assets is the expected credit loss for the entire lifetime. The Group recognizes or reverses the loss allowance through profit or loss. For debt instruments measured at FVOCI, impairment gains or losses are included in the net impairment losses on financial assets and corresponding by reducing the accumulated changes in fair value included in the OCI reserve of equity. For account receivables, the Group refers to historical experience of credit loss, combined with current situation and forward-looking information, to formulate the lifetime expected credit loss of the financial assets. (iv) Derecognition Financial assets are derecognized if one of the following criteria are met: • the contractual rights to receive the cash flows from the financial assets have expired; • they have been transferred and the Group transfers substantially all the risks and rewards of ownership; • they have been transferred and the Group neither transfers nor retains substantially all the risks and rewards of ownership and the Group has not retained control. When the equity financial assets measured at FVOCI are derecognized, the cumulative gain or loss previously recognized in OCI is reclassified from equity directly to retained earnings. When the other financial assets are derecognized, the cumulative gain or loss previously recognized in OCI is reclassified from equity to profit or loss. Financial assets (and the related impairment allowances) are normally written off, either partially or in full, when there is no realistic prospect of recovery. Where loans to customers and receivables arising from default guarantee payments are secured, the write-off |
Financial liabilities | |
Determination of fair value | 3.10 Determination of fair value The fair value of a financial instrument that is traded in an active market is determined by reference to quoted market bid prices for assets and offer prices for liabilities, at the close of business at the end of the reporting period. If quoted market prices are not available, reference can also be made to broker or dealer price quotations. For financial instruments where there is no active market, the fair value is determined by using valuation techniques. Such techniques should be appropriate in the circumstances for which sufficient data is available, and the inputs should be consistent with the objective of estimating the price at which an orderly transaction to sell the asset or to transfer the liability would take place between market participants at the measurement date under current market conditions, and maximize the use of relevant observable inputs and minimize the use of unobservable inputs. Such techniques include using recent prices in arm’s length transactions, reference to the current market value of another instrument which is substantially the same, discounted cash flow analysis and/or option pricing models. For discounted cash flow techniques, estimated future cash flows are based on management’s best estimates and the discount rate used is a market related rate for similar instruments. Certain financial instruments, including derivative financial instruments, are valued using pricing models that consider, among other factors, contractual and market prices, correlation, time value of money, credit risk, yield curve volatility factors and/or prepayment rates of the underlying positions. The use of different pricing models and assumptions could produce materially different estimates of fair values. Determining whether to classify financial instruments into level 3 of the fair value hierarchy is generally based on the significance of the unobservable factors involved in valuation methodologies. |
Offsetting financial instruments | 3.11 Offsetting financial instruments Financial assets and liabilities are offset and the net amount is reported in the consolidated statements of financial position when there is an unconditional and legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis, or realize the assets and settle the liabilities 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. |
Intangible assets | 3.12 Intangible assets (i) Trademarks and licenses Trademarks and licenses acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is the fair value as of the date of acquisition. The useful lives of intangible assets are assessed to be either finite or indefinite. Intangible assets with finite lives are subsequently amortized on the straight-line basis over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortization period and the amortization method for an intangible asset with a finite useful life are reviewed at least at each financial year end. Trademarks and licenses with indefinite useful lives are tested for impairment annually either individually or at the cash-generating unit level. Such intangible assets are not amortized. The useful life of an intangible asset with an indefinite life is reviewed annually to determine whether the indefinite life assessment continues to be supportable. If not, the change in the useful life assessment from indefinite to finite is accounted for on a prospective basis. (ii) Computer software Costs associated with maintaining computer software programs are recognized as an expense as incurred. Development costs that are directly attributable to the design and testing of identifiable and unique software products controlled by the Group are recognized as intangible assets when the following criteria are met: • it is technically feasible to complete the software so that it will be available for use; • management intends to complete the software and use or sell it; • there is an ability to use or sell the software; • it can be demonstrated how the software will generate probable future economic benefits; • adequate technical, financial and other resources to complete the development and to use or sell the software are available; and • the expenditure attributable to the software during its development can be reliably measured. Directly attributable costs that are capitalized as part of the software include employee costs 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. (iii) Amortization methods and periods The Group amortizes intangible assets with a limited useful life using the straight-line method over the following periods. When determining the useful life, the Group has taken into the account (i) the estimated period that can bring economic benefits to the Group; and (ii) the period required by the relevant laws and regulations . The Group estimates the useful life of the trademarks and licenses and computer software based on the period of license, usage of the software, expected technical obsolescence and innovations and industry experience of such intangible assets. Expected useful life • Trademarks and licenses 6 years • Computer software 3-10 years |
Goodwill | 3.13 Goodwill Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred, the amount recognized for non-controlling After initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is tested for impairment annually or more frequently if events or changes in circumstances indicate that the carrying value may be impaired. The Group performs its annual impairment test of goodwill as of year ended. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group’s cash-generating units, or groups of cash-generating units, that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the Group are assigned to those units or groups of units. Impairment is determined by assessing the recoverable amount of the cash-generating unit (group of cash-generating units) to which the goodwill relates. Where the recoverable amount of the cash-generating unit (group of cash-generating units) is less than the carrying amount, an impairment loss is recognized. An impairment loss recognized for goodwill is not reversed in subsequent periods. Where goodwill has been allocated to a cash-generating unit (or group of cash-generating units) and part of the operation within that unit is disposed of, the goodwill associated with the operation disposed of is included in the carrying amount of the operation when determining the gain or loss on the disposal. Goodwill disposed in these circumstances is measured based on the relative value of the disposed operation and the portion of the cash-generating unit retained. |
Property and equipment | 3.14 Property and equipment The Group’s property and equipment mainly comprise buildings, leasehold improvements, office furniture and equipment, computer and electronic equipment, motor vehicles, and construction in progress. The assets purchased or constructed are initially measured at acquisition cost. Subsequent expenditures incurred for the property and equipment are included in the cost of the property and equipment if it is probable that economic benefits associated with the asset will flow to the Group and the subsequent expenditures can be measured reliably. Meanwhile the carrying amount of the replaced part is derecognized. Other subsequent expenditures are recognized in profit or loss in the period in which they are incurred. Depreciation is calculated on the straight-line method to write down the cost of such assets to their residual values over their estimated useful lives. The residual values and useful lives of assets are reviewed, and adjusted if appropriate, at each financial reporting date. Land and buildings comprise primarily office premises. The estimated useful lives, depreciation rate and estimated residual value rate of buildings, leasehold improvements, office furniture and equipment, computer and electronic equipment and motor vehicles are as follows: Category Expected useful life Estimated residual value rate Annual depreciation rate Buildings 30 years 5 % 3% Office furniture and equipment 3-5 0% 19%-33% Computer and electronic equipment 2-5 0% -5 19%-50% Motor vehicles 3-5 5 - 18%-32% Leasehold improvements shorter of expected 0% 20%-33% An item of property and equipment is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. Any gain or loss arising on the disposal or retirement of an item of property and equipment is determined as the difference between the sales proceeds and the carrying amount of the asset and is recognized in profit or loss. Construction in progress is measured at its actual costs. The actual costs include various construction expenditures during the construction period and other relevant costs. Construction in progress is not depreciated. Construction in progress is transferred to a property and equipment when it is ready for intended use. |
Impairment of non-financial assets | 3.15 Impairment of non-financial The Group assesses at each reporting date whether there is an indication that a non-financial non-financial non-financial non-financial pre-tax For non-financial Intangible assets with indefinite useful lives are tested for impairment at least annually at each year end if triggering events are not identified, either individually or at the cash-generating unit level, as appropriate. |
Current and deferred income tax | 3.16 Current and deferred income tax Income tax comprises current and deferred tax. Income tax is recognized in the consolidated income statement or in other comprehensive income if it relates to items that are recognized directly in other comprehensive income. 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: (a) 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 (b) 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: (a) 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 (b) 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 by 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. |
Borrowings | 3.17 Borrowings Borrowings are recognized initially at fair value, net of transaction costs incurred. Borrowings are subsequently measured at amortized cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognized in the consolidated statement of comprehensive income over the period of the borrowings using the effective interest method. Fees paid on the establishment of loan facilities are recognized as transaction costs of the loan to the extent that it is probable that some or all the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalized as a pre-payment |
Share capital, share premium and treasury shares | 3.18 Share capital, share premium and treasury shares Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds. Ordinary shares have a par value of USD0.00001. Initial capital injection over par value per share are accounted for as share premium. Where any group company purchases the Company’s equity instruments, for example as the result of a share buy-back The Group accounts for treasury shares using the cost method. Under this method, the cost incurred to purchase the shares is recorded in the treasury shares account in the consolidated balance sheets. At retirement, the ordinary shares account is charged only for the aggregate par value of the shares retired. The excess of the acquisition cost of treasury shares over the aggregate par value is recorded as deduction of share premium. |
Accounts and other payables | 3.19 Accounts and other payables Accounts and other payables mainly include payable to investors of consolidated structured entities, payable to platform investors, employment benefits payables, payable to external suppliers, tax and other statutory liabilities, and deposit payables, among other things. Accounts and other payables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method. |
Compound financial instruments | 3.20 Compound financial instruments Compound financial instruments contain both a liability and an equity component. The compound financial instruments issued by the Group include convertible promissory notes (refer to Note 34) and optionally convertible promissory notes (refer to Note 35). The liability component, representing the obligation to make fixed payments of compound financial instruments may be converted to ordinary shares at the option of the holders, and the number of shares to be issued is based on an initial fixed conversion price subject to anti-dilutive adjustments. Principal and interest are classified as liability and initially recognized at the fair value, calculated using the market interest rate of a similar liability that does not have an equity conversion option, and are subsequently measured at amortized cost using the effective interest method. The equity component, representing an embedded option to convert the liability into ordinary shares, is initially recognized in other reserves as the difference between the proceeds received from the compound financial instruments as a whole and the amount of the liability component. Any directly attributable transaction costs are allocated to the liability and equity components in proportion to the allocation of proceeds. On conversion of the compound financial instruments into shares, the amount transferred to share capital is calculated as the par value of the shares multiplied by the number of shares converted. The difference between the carrying value of the related component of the converted notes and the amount transferred to share capital is recognized in share premium. |
Employee benefits | 3.21 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. (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 the 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 payment | 3.22 Share-based payment The Group operates certain equity-settled, share incentive plans including share options and performance share units (PSUs), under which the Group receives services from employees as consideration for equity instruments. The total amount to be expensed is determined by reference to the fair value of the shares underlying the grants, which includes the impact of market performance conditions (for example, an entity’s share price) but excludes the impact of any service and non-market non-vesting non-market Total expense based on fair value of the shares underlying the grants and number of shares expected to vest is recognized over the vesting period. At the end of each reporting period, the Group revises its estimates of the number of shares underlying grants that are expected to vest based on the non-market |
Revenue Recognition | 3.23 Revenue recognition Revenue represents the amount of consideration the Group is entitled to upon the transfer of promised goods or services in the ordinary course of the Group’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, control of the goods and services may be transferred over time or at a point in time. Services is provided over time if the Group’s performance: • provides all of the benefit received and consumed simultaneously by the customer; • creates and enhances an asset that the customer controls as the Group performs; and • 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 depicts 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 related to the services rendered by the Group exceed the payment, a contract asset is recognized. Judgment 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. 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, which is recognized as revenue upon transfer of control to the customers. The specific accounting policies for the Group’s main types of revenue are as below: |
Technology platform-based income and guarantee income | 3.23.1 Technology platform-based income and guarantee income The Group engages primarily in operating a platform for facilitating borrowers and institutional funding partners. For the loans originated by banks for which the Group determines that it is not the legal lender in the loan origination and repayment process or trust plans that the Group does not need to consolidate, the Group does not record loans to customers and payables arising from such transactions. The Group determines that both borrower and institutional funding partners are its customers. In accordance with a series of contracts entered into among the borrowers, institutional funding partners and the Group, the Group provides loan enablement and post origination services to its customers and its obligation to repay in the event of default. Loan enablement services include credit assessment of the borrower, enabling loans from the funding partner to the borrower and providing technical assistance to the borrower and the funding partner. Post-origination services include repayment reminders, payment processing, and collection services. The Group determines loan enablement and post origination as two performance obligations. The Group also takes partial credit risk of off-balance The Group generally collects guarantee fees and one combined service fees covering both loan enablement and post origination services from the borrowers on a monthly installment basis. The total consideration including service fees and guarantee fees are first allocated to the guarantee liability at its fair value upon inception of the loan contracts and the residual consideration is then allocated to loan enablement and post origination services based on their estimated standalone selling price. When estimating total consideration, the Group considers early termination scenarios, as the Group does not receive the full contractual service fees amount under early termination, given that the service fees is collected on a monthly basis prior to loan termination. The Group does not have an observable standalone selling price for the loan enablement services or post origination services because it does not provide loan enablement services or post origination services on a standalone basis in similar circumstances to similar customers. There is no direct observable standalone selling price for similar services in the market that is reasonably available to the Group. As a result, the estimation of standalone selling price involves significant judgment. The Group uses an expected cost plus margin approach to estimate the standalone selling prices of loan enablement services and post origination services as the basis of revenue allocation. When estimating the selling prices, the Group considers the cost related to such services and profit margin. The transaction price allocated to loan enablement is recognized as revenue upon execution of loan agreements between funding partners and borrowers; the consideration allocated to post-origination services is recognized over the period of the loan on a systematic basis, which approximates the pattern of when the post origination services are performed. As the loans facilitated by the Group are generally over 12 months, any incremental costs (i.e. fees paid to direct sales, channel partners and others) of obtaining such contracts are capitalized and amortized on a systematic basis consistent with the pattern of the transfer of the services provided to its customers during the term of underlying loans. The Group assesses the recoverability of the capitalized incremental costs of obtaining a contract in accordance with IFRS 15 at each balance sheet date. Any costs that are not expected to be recoverable are expensed as incurred. Besides, the Group also receives service fees recognized as “referral income from platform service” in statement of comprehensive income based on the principal of personal lending referred by the Group to the financial institutions which provide funding directly to borrowers and the Group does not take any credit risk in relation to this referral arrangement. Such fee is recognized upon successful facilitation, which is the only performance obligation agreed in the contract. The Group offers a full suite of wealth management products available from third-party institutional investment product providers to the investors on its technology platform. Such products include asset management plans, bank products, mutual funds, private investment funds, trust plans and others. Other technology platform–based income consist primarily of fee collected from product providers for facilitation of investment products offered on its technology platform and fees collected from financial institutions which is the only performance obligation agreed in the contract. |
Interest income | 3.23.2 Interest income 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). |
Other income | 3.23.3 Other income Other income mainly comprises income for account management service fees. The Group provides reminder services to the credit enhancement providers for loans facilitated by the Group that are covered by their credit enhancement services. Account management service fees are recognized over time based on the number of accounts managed and the performance of the underlying loans. |
Leases | 3.24 Leases The Group leases various properties. Rental contracts are typically made for fixed periods of 1 to 6 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 agreements do not impose any covenants, but leased assets may not be used as collateral for borrowing purposes. Leases are recognized as a right-of-use right-of-use 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 • variable lease payments 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. Right-of-use • the amount of the initial measured 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. Payments associated with short-term leases and leases of low-value |
Provisions | 3.25 Provisions Provisions are recognized when the Group has a present obligation as a result of a past event, and it is probable that the Group will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation. Provisions are measured at the best estimate of most likely consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows. |
Government grants | 3.26 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 consolidated statement of comprehensive income over the period necessary to match them with the costs that they are intended to compensate. |
Dividends | 3.27 Dividends Provision is made for the amount of any dividend declared, being appropriately authorised and no longer at the discretion of the entity, on or before the end of the reporting period but not distributed at the end of the reporting period. |
History And Organization of T_2
History And Organization of The Group (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Disclosure of direct and indirect interests in the principal subsidiaries and our principal consolidated affiliated entities | (a) As of December 31, 2021, the Company had direct or indirect interests in the principal subsidiaries and the principal consolidated affiliated entities as below. Company Name Country/place and date of Attributable equity Controlled through direct equity holding: Gem Blazing Limited Cayman/May 28, 2015 100 % Wincon Hong Kong Investment Company Limited Hong Kong/December 29, 2014 100 % Weikun (Shanghai) Technology Service Co., Ltd. (“Weikun Technology”) Shanghai/February 28, 2015 100 % Jinjiong (Shenzhen) Technology Service Company Ltd. Shenzhen/October 16, 2017 100 % Lufax Holding (Shenzhen) Technology Service Co., Ltd. Shenzhen/September 25, 2018 100 % Gem Alliance Limited Cayman/May 26, 2015 100 % Harmonious Splendor Limited Hong Kong/June 1, 2015 100 % Ping An Puhui Financing Guarantee Co., Ltd (“Puhui Guarantee”) Nanjing/December 25, 2007 100 % Ping An Puhui Enterprises Management Co., Ltd. Shenzhen/July 7, 2015 100 % Ping An Puhui Investment & Consulting Co., Ltd. Shenzhen/September 5, 2005 100 % Shenzhen Ping An Puhui Microloan Co., Ltd. Shenzhen/September 19, 2010 100 % Ping An Puhui Information Services Co., Ltd. Harbin/July 18, 2016 100 % Ping An Consumer Finance Co., Ltd. Shanghai/April 9, 2020 70 % Controlled through Contractual Agreements Shanghai Xiongguo Enterprise Management Co., Ltd. (“Xiongguo”) Shanghai/December 10, 2014 100 % Shanghai Lufax Information Technology Co., Ltd. Shanghai/September 29, 2011 100 % Shenzhen Lufax Holding Enterprise Management Co., Ltd. Shenzhen/May 23, 2018 100 % The English names of certain subsidiaries of the Group represent the best effort by the Company’s management to translate their Chinese names, as these subsidiaries do not have official English names. (b) As of December 31, 2022, the Company had direct or indirect interests in the principal subsidiaries and the principal consolidated affiliated entities as below. Company Name Country/place and date of Attributable equity Controlled through direct equity holding: Gem Blazing Limited Cayman/May 28, 2015 100 % Wincon Hong Kong Investment Company Limited Hong Kong/December 29, 2014 100 % Weikun (Shanghai) Technology Service Co., Ltd. (“Weikun Technology”) Shanghai/February 28, 2015 100 % Jinjiong (Shenzhen) Technology Service Company Ltd. Shenzhen/October 16, 2017 100 % Lufax Holding (Shenzhen) Technology Service Co., Ltd. Shenzhen/September 25, 2018 100 % Gem Alliance Limited Cayman/May 26, 2015 100 % Harmonious Splendor Limited Hong Kong/June 1, 2015 100 % Ping An Puhui Financing Guarantee Co., Ltd. Nanjing/December 25, 2007 100 % Ping An Puhui Enterprises Management Co., Ltd. Shenzhen/July 7, 2015 100 % Chongqing Jinan Microloan Co., Ltd. Chongqing/December 25, 2014 100 % Ping An Puhui Investment & Consulting Co., Ltd. Shenzhen/September 5, 2005 100 % Ping An Puhui Information Services Co., Ltd. Harbin/July 18, 2016 100 % Ping An Consumer Finance Co., Ltd. Shanghai/April 9, 2020 70 % Controlled through Contractual Agreements: Shanghai Xiongguo Enterprise Management Co., Ltd. (“Xiongguo”) Shanghai/December 10, 2014 100 % Shanghai Lufax Information Technology Co., Ltd. Shanghai/September 29, 2011 100 % Shenzhen Lufax Holding Enterprise Management Co., Ltd. Shenzhen/May 23, 2018 100 % |
Disclosure of the major consolidated structured entities other than consolidated affiliated entities of the group | (c) The following table sets forth the major consolidated structured entities other than Consolidated Affiliated Entities of the Group as of December 31, 2022. Name Amount of investment by the Group Remaining paid-in RMB’000 RMB’000 Trust A 4,020,000 4,020,000 Trust B 2,490,000 2,490,000 Trust C 2,430,000 2,430,000 Trust D 1,960,000 1,960,000 Trust E 1,600,000 1,600,000 Trust F 1,501,000 1,501,000 Trust G 1,110,000 1,110,000 Trust H 18,000 1,105,645 Trust I 1,100,000 1,100,000 Trust J 18,000 1,049,772 Ping An Group also made investments in these structured entities. Meanwhile, Ping An Group also provides certain services to certain consolidated structure entities. (i) The remaining paid-in |
Disclosure of balance sheet details of consolidated affiliated entities and their subsidiaries | (f) The following are major financial statements amounts and balances of the Group’s Consolidated Affiliated Entities and their consolidated subsidiaries as of December 31, 2021 and 2022 and for the three years ended December 31, 2022. As of December 31, 2021 2022 RMB’000 RMB’000 Assets arising from inter-company transactions 3,911 10,328 Amount due from Group companies 535,200 2,412,424 Total assets 21,721,834 14,147,082 Amount due to Group companies 19,827,134 14,625,366 Total liabilities 24,101,238 16,951,253 |
Disclosure of cash flow summary and income summary of consolidated affiliated entities and subsidaries | Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Inter-company revenues (70,159 ) 5,249 156,029 Total income 1,571,968 1,566,847 966,196 Inter-company expenses 1,012,435 1,422,021 540,809 Total expense (1,714,084 ) (2,213,789 ) (1,359,876 ) Net loss (142,116 ) (646,942 ) (393,680 ) Inter-company cash flow (1,151,110 ) 1,369,172 (625,594 ) Reclassification (i) — 327,497 1,487,448 Other operating activities 1,835,668 (653,230 ) (916,309 ) Net cash generated from/(used in) operating activities 684,558 1,043,439 (54,455 ) Inter-company cash flow 501,185 (735,327 ) 564,266 Reclassification (i) — (327,497 ) (1,487,448 ) Payment for advances to consolidated entities (240,000 ) (500,000 ) — Receipts of repayment of the advances from consolidated entities 4,813,732 1,064,669 158 Proceeds from sale of investment assets 16,449,825 20,633,784 9,229,963 Payment for acquisition of investment assets (28,402,132 ) (9,440,542 ) (5,675,189 ) Other investing activities (697,316 ) (4,826,844 ) 5,543,944 Net cash generated from/(used in) investing activities (7,574,706 ) 5,868,243 8,175,694 Repayment for advances to consolidated entities (9,031,546 ) (17,114,012 ) (10,755,583 ) Receipts of advances from consolidated entities 16,096,040 9,774,001 4,617,000 Proceeds from borrowings 531,162 572,000 — Repayment of interest expenses and borrowings (275,959 ) (664,880 ) (436,274 ) Other financing activities — (474 ) (1,000 ) Net cash generated from/(used in) financing activities 7,319,697 (7,433,365 ) (6,575,857 ) Effect of exchange rate changes on cash and cash equivalents (14 ) (15 ) 21 Net increase/(decrease) in cash 429,535 (521,698 ) 1,545,403 Cash at the beginning of the year 996,523 1,426,058 904,360 Cash at the end of the year 1,426,058 904,360 2,449,763 (i) This represents the reclassification of certain cash flows that were considered as investing activities in the financial statements of consolidated entities and consolidated affiliated entities’ subsidiaries and as operating activities in the consolidated financial statements of the Group. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Expected Useful Lives of Intangible Assets with a Limited Useful Life | The Group amortizes intangible assets with a limited useful life using the straight-line method over the following periods. Expected useful life • Trademarks and licenses 6 years • Computer software 3-10 years |
Summary of the Estimated Useful Lives, Estimated Residual Value Rate and Annual Depreciation Rate of Property, Plant and Equipment | Land and buildings comprise primarily office premises. The estimated useful lives, depreciation rate and estimated residual value rate of buildings, leasehold improvements, office furniture and equipment, computer and electronic equipment and motor vehicles are as follows: Category Expected useful life Estimated residual value rate Annual depreciation rate Buildings 30 years 5 % 3% Office furniture and equipment 3-5 0% 19%-33% Computer and electronic equipment 2-5 0% -5 19%-50% Motor vehicles 3-5 5 - 18%-32% Leasehold improvements shorter of expected 0% 20%-33% |
Financial Instruments And Ris_2
Financial Instruments And Risks (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Financial Instruments And Risks [Abstract] | |
Summary of Illustrates the Impact of an Appreciation or Depreciation | The table below illustrates the impact of an appreciation or depreciation of RMB spot and forward rates against USD by 5% on the Group’s profit before income tax expenses. As of December 31, 2021 2022 RMB’000 RMB’000 5% appreciation of RMB 699,049 (124,798 ) 5% depreciation of RMB (699,049 ) 124,798 |
Summary of out the Group's Financial Assets and Financial Liabilities Exposed to Interest Rate Risk | The following table sets out the Group’s financial assets and financial liabilities exposed to interest rate risk by repricing date, contractual maturity date or expected maturity date (whichever is the earlier): As of December 31, 2021 Less than 3 months 3 months to 1 year 1-2 2-3 More than 3 years Overdue No interest Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 ASSETS Cash at bank 29,263,128 70,579 363,691 1,538,551 3,507,239 — — 34,743,188 Restricted cash 27,792,006 554,499 1,786,219 306,371 14,444 — — 30,453,539 Financial assets at fair value through profit or loss 12,544,935 3,459,334 919,458 262,969 — 1,164,095 12,672,420 31,023,211 Financial assets at amortized cost 1,168,502 500,740 920,815 107,676 — 1,086,880 — 3,784,613 Financial assets purchased under reverse repurchase agreements 5,527,177 — — — — — — 5,527,177 Accounts and other receivables and contract assets — — — — — — 22,344,773 22,344,773 Loans to customers 51,563,466 98,295,888 51,345,667 11,182,096 1,002 2,583,991 — 214,972,110 Total financial assets 127,859,214 102,881,040 55,335,850 13,397,663 3,522,685 4,834,966 35,017,193 342,848,611 As of December 31, 2021 Less than 3 months 3 months to 1 year 1-2 2-3 More than 3 years Overdue No interest Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 LIABILITIES Payable to platform investors — — — — — — 2,747,891 2,747,891 Borrowings 13,074,069 12,853,348 — — — — — 25,927,417 Accounts and other payables and contract liabilities — — — — — — 8,814,255 8,814,255 Payable to investors of consolidated structured entities 46,086,474 95,848,045 48,048,309 5,463,312 — — — 195,446,140 Financing guarantee liabilities — — — — — — 2,697,109 2,697,109 Lease liabilities 141,719 322,317 238,250 83,166 9,092 — — 794,544 Convertible promissory note payable — — 10,669,498 — — — — 10,669,498 Optionally convertible promissory notes — — 7,405,103 — — — — 7,405,103 Total financial liabilities 59,302,262 109,023,710 66,361,160 5,546,478 9,092 — 14,259,255 254,501,957 Nominal amount of interest rate swap (8,224,653 ) — 8,224,653 — — — — — Total interest rate sensitivity gap 76,781,605 (6,142,670 ) (19,249,963 ) 7,851,185 3,513,593 4,834,966 20,757,938 88,346,654 As of December 31, 2022 Less than 3 months 3 months to 1-2 2-3 More than 3 years Overdue No interest Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 ASSETS Cash at bank 33,218,805 42,142 1,602,690 3,490,181 5,528,309 — — 43,882,127 Restricted cash 24,333,782 1,544,978 482,037 147,478 356 — — 26,508,631 Financial assets at fair value through profit or loss 7,128,410 1,131,041 313,221 — — 2,454,227 18,062,548 29,089,447 Financial assets at amortized cost 2,502,673 647,026 112,128 856,808 — 597,813 — 4,716,448 Accounts and other receivables and contract assets — — — — — — 15,758,135 15,758,135 Loans to customers 51,150,197 95,812,445 49,552,823 9,616,373 158,248 5,156,559 — 211,446,645 Total financial assets 118,333,867 99,177,632 52,062,899 14,110,840 5,686,913 8,208,599 33,820,683 331,401,433 As of December 31, 2022 Less than 3 months 3 months to 1-2 2-3 More than 3 years Overdue No interest Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 LIABILITIES Payable to platform investors — — — — — — 1,569,367 1,569,367 Borrowings 9,086,732 27,828,781 — — — — — 36,915,513 Bond payable — 2,143,348 — — — — — 2,143,348 Accounts and other payables and contract liabilities 3,745,929 — — — — — 5,385,010 9,130,939 Payable to investors of consolidated structured entities 42,664,737 86,300,977 44,005,269 4,111,964 64,779 — — 177,147,726 Financing guarantee liabilities — — — — — — 5,763,369 5,763,369 Lease liabilities 126,034 294,856 253,475 67,629 6,813 — — 748,807 Convertible promissory note payable — — — — 5,164,139 — — 5,164,139 Optionally convertible promissory notes — 8,142,908 — — — — — 8,142,908 Total financial liabilities 55,623,432 124,710,870 44,258,744 4,179,593 5,235,731 — 12,717,746 246,726,116 Nominal amount of interest rate swap (8,984,334 ) 8,984,334 — — — — — — Total interest rate sensitivity gap 71,694,769 (34,517,572 ) 7,804,155 9,931,247 451,182 8,208,599 21,102,937 84,675,317 |
Summary of Impact to Profit Before Tax on the Structure of Interest-bearing Assets and Liabilities | The table below illustrates the impact to profit before tax of the coming year as of each reporting date based on the structure of interest-bearing assets, liabilities and interest rate derivative instruments as of December 31, 2021 and 2022, caused by a parallel shift of 100 basis points in interest rates. As of December 31, 2021 2022 RMB’000 RMB’000 Change in interest rate -100 basis points (648,804 ) (497,888 ) +100 basis points 648,804 497,888 |
Summary of Credit Exposure of the Group | The following table sets forth the credit exposure of the Group as of December 31, 2021 and 2022: As of December 31, 2021 2022 RMB’000 RMB’000 On-balance Cash at bank 34,743,188 43,882,127 Restricted cash 30,453,539 26,508,631 Financial assets at fair value through profit or loss 31,023,211 29,089,447 Financial assets at amortized cost 3,784,613 4,716,448 Financial assets purchased under reverse repurchase agreements 5,527,177 — Accounts and other receivables and contract assets 22,344,773 15,758,135 Loans to customers 214,972,110 211,446,645 342,848,611 331,401,433 Off-balance Financing guarantee contracts 64,731,369 68,502,938 |
Summary of Macro Economic Assumptions used to Estimate Expected Credit Losses | The Group considered different macroeconomic scenarios. As of December 31, 2021 and 2022, the key macroeconomic assumptions used to estimate expected credit losses are listed below. As of December 31, 2021 2022 GDP – year on year percentage change 5.0%-6.2% 3.8%-5.5% CPI – year on year percentage change 2.3%-2.6% 2.0%-2.4% Broad measure of money supply (M1) – year on year percentage change 8.1%-9.1% 7.3%-8.6% |
Summary of Changes of ECL Impairment Provision on Loans to Customers and Financing Guarantee liabilities Related to ECL Assuming the Financial Assets | The following table shows the changes of ECL impairment provision on loans to customers and financing guarantee liabilities related to ECL assuming the financial assets in stage 2 reclassified to stage 1 due to significant improvement in credit risk. As of December 31, 2021 2022 RMB’000 RMB’000 Total ECL and financing guarantee liabilities under assumption of reclassification of financial instruments from stage 2 to stage 1 4,897,881 10,479,472 Total ECL and financing guarantee liabilities related to ECL recognized in the consolidated balance sheet 5,450,980 12,826,347 Difference-amount (553,099 ) (2,346,875 ) Difference-ratio -10 % -18 % |
Summary of Credit Risk Exposure of the Financial Instruments under the Scope of Expected Credit Loss | The following presents the credit risk exposure of the financial instruments under the scope of expected credit loss mentioned in measurement of ECL without considering guarantee or any other credit enhancement measures: As of December 31, 2021 Stage I Stage II Stage III POCI Maximum (in RMB’000) Book value On-balance Financial assets at amortized cost 2,697,852 — 584,739 502,022 3,784,613 Loans to customers 213,665,161 1,263,965 42,984 — 214,972,110 Total 216,363,013 1,263,965 627,723 502,022 218,756,723 Off-balance Financing guarantee contracts 64,416,918 314,451 — — 64,731,369 As of December 31, 2022 Stage I Stage II Stage III POCI Maximum (in RMB’000) Book value On-balance Financial assets at amortized cost 4,118,635 — 281,531 316,282 4,716,448 Loans to customers 208,609,176 2,763,586 73,883 — 211,446,645 Total 212,727,811 2,763,586 355,414 316,282 216,163,093 Off-balance Financing guarantee contracts 67,011,692 1,491,246 — — 68,502,938 |
Summary of Liquidity Risk | The following table 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 or expected maturity date. The amounts disclosed in the table are undiscounted contractual or expected cash flows including interest payments computed using contractual rates, or, if floating, based on current rates, and interests with financial liabilities denominated in foreign currencies translated into RMB using the spot rate as of balance sheet date: As of December 31, 2021 Repayable Within 1 year 1 to 2 years 2 to 3 years Over 3 years Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Financial liabilities - Payable to platform investors 2,747,891 — — — — 2,747,891 Borrowings — 16,717,997 9,628,462 — — 26,346,459 Accounts and other payables and contract liabilities 8,814,255 — — — — 8,814,255 Payable to investors of consolidated structured entities 45,628 148,079,478 49,505,033 5,570,774 — 203,200,913 Financing guarantee liabilities 64,731,369 — — — — 64,731,369 Lease liabilities — 484,497 248,770 85,180 9,329 827,776 Convertible promissory note payable — 91,869 12,502,777 — — 12,594,646 Optionally convertible promissory notes — 442,840 7,823,510 — — 8,266,350 76,339,143 165,816,681 79,708,552 5,655,954 9,329 327,529,659 As of December 31, 2022 Repayable Within 1 year 1 to 2 years 2 to 3 years Over 3 years Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Financial liabilities - Payable to platform investors 1,569,367 — — — — 1,569,367 Borrowings — 37,506,884 — — — 37,506,884 Bond payable — 2,209,274 — — — 2,209,274 Accounts and other payables and contract liabilities 5,385,010 3,745,929 — — — 9,130,939 Payable to investors of consolidated structured entities 47,351 133,933,056 45,293,609 4,182,362 65,607 183,521,985 Financing guarantee liabilities 68,502,938 — — — — 68,502,938 Lease liabilities — 462,785 247,494 67,737 6,819 784,835 Convertible promissory note payable — 50,177 50,177 50,177 6,867,555 7,018,086 Optionally convertible promissory notes — 8,546,138 — — — 8,546,138 75,504,666 186,454,243 45,591,280 4,300,276 6,939,981 318,790,446 |
Summary of Group's Maximum Exposure to Structured Entities | As of December 31, 2021 (In RMB’000) Size Carrying Group’s Interest held by Unconsolidated structured products managed by third parties (a) NA 8,661,387 8,661,387 Investment income Unconsolidated structured products managed by affiliated entities (a) NA 12,219,226 12,219,226 Investment income Unconsolidated structured products serviced by the Group. 18,178,437 — 1,428,320 Service fees As of December 31, 2022 (In RMB’000) Size Carrying amount Group’s Interest held by Unconsolidated structured products managed by third parties (a) NA 17,312,195 17,312,195 Investment income Unconsolidated structured products managed by affiliated entities (a) NA 8,321,066 8,321,066 Investment income Unconsolidated structured products serviced by the Group. 2,581,999 — 1,849,897 Service fee |
Summary of Fair Value Estimation | The following table sets forth the financial instruments recorded at fair value by level of the fair value hierarchy: As of December 31, 2021 Level 1 Level 2 Level 3 Total RMB’000 RMB’000 RMB’000 RMB’000 Unlisted Securities Asset management plans — 7,802,270 505,503 8,307,773 Trust plans — 2,448,373 603,716 3,052,089 Private fund and other equity investments — 2,765,016 — 2,765,016 Mutual funds 2,486,541 — — 2,486,541 Corporate bonds — 3,017,849 47,023 3,064,872 Bank wealth management products — 4,589,101 — 4,589,101 Structured deposits — 6,640,977 — 6,640,977 Others debt investments — — 108,991 108,991 Listed Securities Stock 7,851 — — 7,851 Derivative instruments Interest rate swap — 38,403 — 38,403 Foreign currency swap — (25,772 ) — (25,772 ) Total 2,494,392 27,276,217 1,265,233 31,035,842 As of December 31, 2022 Level 1 Level 2 Level 3 Total RMB’000 RMB’000 RMB’000 RMB’000 Unlisted Securities Asset management plans — 4,667,559 342,154 5,009,713 Trust plans — 3,268,709 621,840 3,890,549 Private fund and other equity investments — 1,603,219 440,832 2,044,051 Mutual funds 7,125,498 — — 7,125,498 Corporate bonds — — 46,435 46,435 Bank wealth management products — 7,563,450 — 7,563,450 Structured deposits — 2,406,785 — 2,406,785 Others debt investments — — 1,002,966 1,002,966 Derivative instruments Interest rate swap — 222,086 — 222,086 Foreign currency swap — 225,357 — 225,357 Total 7,125,498 19,957,165 2,454,227 29,536,890 |
Summary of the Changes in Level 3 Instruments | The following table presents the changes in level 3 instruments for the years ended December 31, 2020, 2021 and 2022: Year ended December 31, 2020 2021 2022 Financial assets at fair value through profit or loss RMB’000 RMB’000 RMB’000 As of beginning of the year 2,842,839 1,266,495 1,265,233 Additions — 131,829 1,548,065 Disposal (1,266,827 ) (29,664 ) (300,136 ) Transfer into level 3 — 1,035,642 — Transfer out of level 3 — (3,047 ) — Gains or losses recognized in profit or loss (309,517 ) (1,136,022 ) (58,935 ) As of end of the year 1,266,495 1,265,233 2,454,227 |
Summary of Impact to Profit/(Loss) Before Income Tax | The table below illustrates the impact to profit/(loss) before income tax for the years ended December 31, 2020, 2021 and 2022, if the risk-adjusted discount rate had increased/decreased by 100 basis points with all other variables held constant. As of December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Expected changes in profit/(loss) before income tax +100 basis points (28,078 ) (42,509 ) (42,824 ) -100 basis points 29,023 45,553 45,826 |
Technology platform-based inc_2
Technology platform-based income (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of disaggregation of revenue from contracts with customers [abstract] | |
Summary of Technology platform based income | Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Technology platform–based income Retail credit and enablement service fees 39,587,797 36,793,020 28,621,121 Other technology platform–based income 1,634,045 1,501,297 597,311 41,221,842 38,294,317 29,218,432 |
Summary of Retail Credit Facilitation Service Fees | Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Retail credit and enablement service fees Loan enablement service fees At a point in time 7,141,725 5,675,612 3,446,163 Post-origination service fees Over time 32,315,179 30,411,362 24,028,033 Referral income from platform service At a point in time 130,893 706,046 1,146,925 39,587,797 36,793,020 28,621,121 |
Summary of Remaining Performance Obligations of Long Term Contracts | (a) The table below sets forth the remaining performance obligations of long-term contracts: As of December 31, 2021 2022 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 the year Expected to be recognized within one year 20,908,676 11,330,057 Expected to be recognized in one to two years 8,131,102 5,643,999 Expected to be recognized over two years 1,724,952 1,937,183 30,764,730 18,911,239 |
Net Interest Income (Tables)
Net Interest Income (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Net Interest Income | Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Loans originated by consolidated trust plans Interest income 10,640,860 21,229,806 25,869,521 Interest expense (4,283,151 ) (8,400,992 ) (10,216,770 ) Net interest income from loans originated by consolidated trust plans 6,357,709 12,828,814 15,652,751 Loans originated by consumer finance company and microloan lending companies Interest income 1,395,961 1,535,023 4,023,755 Interest expense (3,210 ) (189,606 ) (695,130 ) Net interest income from loans originated by microloan lending companies and consumer finance company 1,392,751 1,345,417 3,328,625 Total net interest income 7,750,460 14,174,231 18,981,376 |
Other Income (Tables)
Other Income (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Other Income | Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Account management service fees 1,253,760 3,507,999 1,094,030 Penalty fee income 212,328 276,250 80,201 Others 50,954 91,158 63,773 1,517,042 3,875,407 1,238,004 |
Investment Income (Tables)
Investment Income (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Investment Income | Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Interest income Financial assets at amortized cost 304,627 479,043 341,617 Financial assets purchased under reverse repurchase agreements 29,328 83,763 76,737 333,955 562,806 418,354 Realized gains Financial assets at fair value through profit or loss 1,163,988 991,437 1,099,568 Financial assets at amortized cost — 80,866 — 1,163,988 1,072,303 1,099,568 Net change in unrealized gains/(losses) Financial assets at fair value through profit or loss (Note 17) (558,044 ) (483,356 ) (212,297 ) 939,899 1,151,753 1,305,625 |
Expense by Nature (Tables)
Expense by Nature (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Expenses by Nature | Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Employee benefit expenses (Note 10.1) 14,145,207 16,402,993 15,080,319 Loan origination and servicing expenses 7,091,078 5,712,598 3,667,962 Promotion and advertising expenses 1,221,762 1,685,847 1,525,797 Outsourcing service expenses 1,333,342 1,355,273 1,391,292 Payment processing expenses 1,204,712 1,197,869 1,134,905 Trust management fee 504,428 1,078,380 1,251,761 Depreciation of right-of-use 604,018 608,889 578,014 Taxes and surcharges 380,460 534,647 568,826 Business entertainment expenses 769,834 619,328 389,369 Depreciation of property and equipment (Note 23) 226,862 193,511 177,799 Audit fees 49,618 42,376 39,271 Amortization of intangible assets (Note 24) 31,831 22,234 15,325 Listing expenses — — 11,418 Others 1,049,327 740,039 1,057,293 Total sales and marketing expenses, general and administrative expenses, operation and servicing expenses, technology and analytics expenses 28,612,479 30,193,984 26,889,351 |
Summary of Sales and Marketing Expenses | Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Sales and marketing expense Borrower acquisition expenses 11,506,402 10,119,525 7,865,407 General sales and marketing expenses 5,402,999 6,637,150 6,653,847 Investor acquisition and retention expenses 819,888 676,984 301,092 Referral expenses from platform service 84,268 559,413 936,570 17,813,557 17,993,072 15,756,916 |
Summary of Employee Benefit Expenses | Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Wages, salaries and bonuses 10,764,239 11,681,753 10,163,216 Other social security costs, housing benefits and other employee benefits 2,787,803 3,157,771 3,293,366 Pension costs – defined contribution plans 427,917 1,430,074 1,577,818 Share-based payment (Note 43) 165,248 133,395 45,919 14,145,207 16,402,993 15,080,319 |
Summary Of Detailed Information About Highest Paid Individuals Explanatory | The emoluments payable to the remaining one, two and three individuals during the years ended December 31, 2020, 2021 and 2022 are as follows: Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Wages, salaries and bonuses 4,600 12,294 10,044 Other social security costs, housing benefits and other employee benefits 1,515 2,132 2,819 Pension costs – defined contribution plans — 57 149 6,115 14,483 13,012 |
Summary of Detailed Information About Emoluments Bands Of Highest Paid Individuals Explanatory | The emoluments fell within the following bands: Year ended December 31, 2020 2021 2022 Emolument bands (in RMB’000) 1,000 – 5,000 — — 2 5,001 – 10,000 1 2 1 1 2 3 |
Credit Impairment Losses (Table
Credit Impairment Losses (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Credit Impairment Losses | Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Financing guarantee contracts 772,614 2,933,903 7,660,622 Loans to customers 744,893 2,441,111 7,175,389 Accounts and other receivables and contract assets 1,499,344 991,903 1,140,937 Financial assets at amortized cost 18,193 272,909 575,161 Others 144 3,901 (1,644 ) 3,035,188 6,643,727 16,550,465 |
Finance Costs (Tables)
Finance Costs (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Finance Cost | Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Interest expenses on convertible promissory note 883,759 893,001 1,045,611 Interest expenses on borrowings 211,306 380,447 701,637 Interest expenses on Convertible Notes 135,412 495,079 521,747 One-time — — 173,775 Interest expense s 46,567 38,709 41,402 Interest expenses on unpaid consideration of convertible promissory note (Note 34(a)) — — 16,162 Interest expenses on consolidated wealth management products 92,302 9,122 6,473 One-time C-round 1,326,007 — — Interest expenses on convertible redeemable preferred shares 534,686 — — Bank interest income (364,385 ) (820,843 ) (1,267,815 ) 2,865,654 995,515 1,238,992 |
Other gains_(losses) - net (Tab
Other gains/(losses) - net (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Detailed Information About Other Gains Losses Net Explanatory | Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Government grants 164,988 251,309 408,164 Input VAT super-deduction 81,850 46,127 92,230 ADS transferring income 3,444 109,843 236,827 Foreign exchange gains/(losses) 192,337 206,753 (877,232 ) Others (58,349 ) (114,653 ) 143,470 384,270 499,379 3,459 |
Income Tax Expenses (Tables)
Income Tax Expenses (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Income Tax Expense | The following table sets forth the income tax expense of the Group for the years ended December 31, 2020, 2021 and 2022: Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Current income tax 5,570,012 13,105,863 4,494,818 Deferred income tax 63,253 (6,414,745 ) (256,586 ) 5,633,265 6,691,118 4,238,232 |
Summary of Reconciliation from Income Tax Calculated Based on the Applicable Tax Rates and Profit before Income Tax Expenses | The following table sets forth the reconciliation from income tax calculated based on the applicable tax rates and profit before income tax expenses presented in the consolidated financial statements to the income tax expenses: Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Profit before income tax expenses 17,909,505 23,400,178 13,013,271 Income tax calculated at the PRC statutory tax rate of 25%. 4,477,376 5,850,045 3,253,318 Tax effect of: Differential income tax rates applicable to subsidiaries (a)(b)(c)(d) 756,392 263,707 534,154 Deductible temporary differences and tax losses for which no deferred tax asset was recognized (g) 280,251 210,748 233,457 Expenses and losses not deductible for tax purposes (h) 262,843 245,097 265,674 Reversal of deferred tax assets recognized in prior years 3,643 381,456 62,925 Income not subject to tax (99,378 ) (19,640 ) (5,971 ) Effect of tax rate changes on deferred income taxes — (42,929 ) (9,565 ) Research and development tax credit (38,680 ) (39,038 ) (40,121 ) Utilisation of previously unrecognized deferred tax assets (14,711 ) (24,649 ) (100,351 ) Others (i) 5,529 (133,679 ) 44,712 Income tax expense 5,633,265 6,691,118 4,238,232 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Earnings per share [abstract] | |
Disclosure of Basic earnings per share | (a) Basic earnings per share is calculated by dividing the profit attributable to owners of the Group by the weighted average number of ordinary shares in issue during the year excluding ordinary shares purchased by the Group. Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Profit attributable to owners of the Company 12,354,114 16,804,380 8,699,369 Weighted average number of ordinary shares in issue (in ’000) 1,104,155 1,181,850 1,145,050 Basic earnings per share (in RMB) 11.19 14.22 7.60 Basic earnings per ADS (in RMB) 5.59 7.11 3.80 |
Summary of Diluted earnings per share | For the year ended December 31, 2022, two categories of potential dilutive ordinary shares are included in the calculation of diluted earnings per share: share options and PSUs. Potential ordinary shares issuable upon conversion of optionally convertible promissory notes and convertible promissory note were not included in the calculation of diluted earnings per share, as the effect would have been anti-dilutive. Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Earnings Profit attributable to owners of the Company 12,354,114 16,804,380 8,699,369 Interest expense on convertible instruments, net of tax 147,293 1,388,080 — Net profit used to determine diluted earnings per share 12,501,407 18,192,460 8,699,369 Weighted average number of ordinary shares Weighted average number of ordinary shares in issue (in ’000) 1,104,155 1,181,850 1,145,050 Adjustments for: Assumed conversion of convertible instruments (in ’000) 21,874 169,737 — Assumed exercise of share options and vesting of PSUs (in ’000) — 8,165 2,318 Weighted average number of ordinary shares for diluted earnings per share (in ’000) 1,126,029 1,359,752 1,147,368 Diluted earnings per share (in RMB) 11.10 13.38 7.58 Diluted earnings per ADS (in RMB) 5.55 6.69 3.79 |
Cash At Bank And Restricted C_2
Cash At Bank And Restricted Cash (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Cash and cash equivalents [abstract] | |
Disclosure of Cash at bank | The Group As of December 31, Cash at bank 2021 2022 RMB’000 RMB’000 Demand deposits RMB 18,132,859 24,509,888 USD 4,137,462 1,985,271 HKD 43,697 13,586 IDR 37,385 15,450 SGD 3,651 — 22,355,054 26,524,195 Time deposits RMB 11,659,866 17,248,631 USD 637,884 — IDR 93,776 111,416 12,391,526 17,360,047 Less: Provision for impairment losses (3,392 ) (2,115 ) 34,743,188 43,882,127 |
Disclosure of Restricted cash | As of December 31, 2021 2022 RMB’000 RMB’000 Restricted cash Cash from consolidated structured entities (a) 24,903,595 22,990,022 Deposits for borrowings (b) 3,042,930 1,478,504 Deposits held on behalf of platform investors (c) 1,791,455 702,018 Others 715,559 1,338,087 30,453,539 26,508,631 (a) Cash (b) Deposits for borrowings are pledges for secured borrowings (refer to Note 29(a)). (c) As of December 31, 2021, deposits held on behalf of platform investors represents funds received from platform investors while investment decisions are yet to be made, or investors’ funds whose withdrawal is in processing due to settlement time. As of December 31, 2022, deposits held on behalf of platform investors whose withdrawal is in processing due to settlement time. |
Summary of Detailed Information about Cash At Bank of Parent Company Explanatory | The Company As of December 31, Cash at bank 2021 2022 RMB’000 RMB’000 Demand deposits RMB 18,705 5,518 USD 1,634,458 1,638,784 1,653,163 1,644,302 Time deposits RMB 160,453 — USD — — 160,453 — Less: Provision for impairment losses — — 1,813,616 1,644,302 |
Financial Assets At Fair Valu_2
Financial Assets At Fair Value Through Profit Or Loss (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of financial instruments at fair value through profit or loss [line items] | |
Disclosure of financial assets at fair value through profit or loss | The Group As of December 31, 2021 2022 RMB’000 RMB’000 Unlisted securities Bank wealth management products 4,589,101 7,563,450 Mutual funds 2,486,541 7,125,498 Asset management plans (a) 8,307,773 5,009,713 Trust plans (a) 3,052,089 3,890,549 Structured deposits 6,640,977 2,406,785 Private fund and other equity investments (a) 2,765,016 2,044,051 Other debt investments 108,991 1,002,966 Corporate bonds (a) 3,064,872 46,435 Factoring products — — Listed securities Stock 7,851 — 31,023,211 29,089,447 (a) As of December 31, 2021 and 2022, the principal amount of financial assets at fair value through profit or loss amounting to |
Parent [member] | |
Disclosure of financial instruments at fair value through profit or loss [line items] | |
Disclosure of financial assets at fair value through profit or loss | The Company As of December 31, 2021 2022 RMB’000 RMB’000 Private fund investment 383,888 767,636 |
Financial Assets At Amortized_2
Financial Assets At Amortized Cost (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Detailed Information About Financial assets at amortized costs [Line Items] | |
Disclosure of financial assets at amortized cost | The Group As of December 31, 2021 2022 RMB’000 RMB’000 Unlisted securities Debt Investments 5,002,174 6,471,987 Interest receivable 121,415 122,799 5,123,589 6,594,786 Less: Provision for impairment losses (1,338,976 ) (1,878,338 ) 3,784,613 4,716,448 Expected credit loss rate 26.13 % 28.48 % |
Disclosure of carrying amount of financial assets at amortized cost | (b) The following table sets forth the movement of gross carrying amount of financial assets at amortized cost for the year ended December 31, 2020: Year ended December 31, 2020 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 POCI Total As of January 1, 2020 7,223,195 — 2,655,132 132,632 10,010,959 New financial assets originated or purchase d 8,590,588 — — 59,084 8,649,672 Write-offs — — (221,754 ) (12,521 ) (234,275 ) Financial assets de-recognized (10,300,916 ) — (318,143 ) (71,463 ) (10,690,522 ) As of December 31, 2020 5,512,867 — 2,115,235 107,732 7,735,834 (d) The following table sets forth the movement of gross carrying amount of financial assets at amortized cost for the year ended December 31, 2021: Year ended December 31, 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 POCI Total As of January 1, 2021 5,512,867 — 2,115,235 107,732 7,735,834 New financial assets originated or purchase d 7,437,143 — — 604,418 8,041,561 Write-offs — — (17,651 ) (8,694 ) (26,345 ) Disposal in the current period — — (226,843 ) — (226,843 ) Financial assets de-recognized (10,240,254 ) — (5,500 ) (154,864 ) (10,400,618 ) As of December 31, 2021 2,709,756 — 1,865,241 548,592 5,123,589 (f) The following table sets forth the movement of gross carrying amount of financial assets at amortized cost for the year ended December 31, 2022: Year ended December 31, 2022 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 POCI Total As of January 1, 2022 2,709,756 — 1,865,241 548,592 5,123,589 New financial assets originated or purchase d 5,635,886 — — 79,456 5,715,342 Transfer (363,927 ) — 363,927 — — — From stage 1 to stage 2 (363,927 ) 363,927 — — — — From stage 2 to stage 3 — (363,927 ) 363,927 — — Write-offs — — (38,858 ) (11,854 ) (50,712 ) Financial assets de-recognized (3,822,562 ) — (102,087 ) (268,784 ) (4,193,433 ) As of December 31, 2022 4,159,153 — 2,088,223 347,410 6,594,786 |
Disclosure of movement of ECL allowance of financial assets at amortized cost | (c) The following table sets forth the movement of ECL allowance for the year ended December 31, 2020: Year ended December 31, 2020 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 POCI Total As of January 1, 2020 13,997 — 1,321,133 52,817 1,387,947 New financial assets originated or purchase d 8,593 — — — 8,593 Write-offs — — (221,754 ) (12,521 ) (234,275 ) Financial assets de-recognized (4,160 ) — (15,444 ) (117 ) (19,721 ) Change in parameters of expected credit loss model (13,270 ) — 56,413 (13,822 ) 29,321 As of December 31, 2020 5,160 — 1,140,348 26,357 1,171,865 (e) The following table sets forth the movement of ECL allowance for the year ended December 31, 2021: Year ended December 31, 2021 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 POCI Total As of January 1, 2021 5,160 — 1,140,348 26,357 1,171,865 New financial assets originated or purchase d 10,808 — — — 10,808 Write-offs — — (17,651 ) (8,694 ) (26,345 ) Disposal in the current period — — (144,320 ) — (144,320 ) Financial assets de-recognized (4,531 ) — (10,366 ) 48,184 33,287 Change in parameters of expected credit loss model 467 — 312,491 (19,277 ) 293,681 As of December 31, 2021 11,904 — 1,280,502 46,570 1,338,976 (g) The following table sets forth the movement of ECL allowance for the year ended December 31, 2022: Year ended December 31, 2022 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 POCI Total As of January 1, 2022 11,904 — 1,280,502 46,570 1,338,976 New financial assets originated or purchase d 19,733 — — — 19,733 Transfer (3,622 ) — 236,007 — 232,385 — From stage 1 to stage 2 (3,622 ) 3,622 — — — — From stage 2 to stage 3 — (63,386 ) 63,386 — — Net impact on expected credit loss by stage transfer — 59,764 172,621 — 232,385 Write-offs — — (38,858 ) (11,854 ) (50,712 ) Financial assets de-recognized (5,395 ) — (74,124 ) 3,238 (76,281 ) Change in parameters of expected credit loss model 17,898 — 403,165 (6,826 ) 414,237 As of December 31, 2022 40,518 — 1,806,692 31,128 1,878,338 |
Parent [member] | |
Disclosure Of Detailed Information About Financial assets at amortized costs [Line Items] | |
Disclosure of financial assets at amortized cost | The Company As of December 31, 2021 2022 RMB’000 RMB’000 Unlisted securities Loans to subsidiaries 8,781,896 137,662 Interest receivable 72,434 18,387 8,854,330 156,049 Less: Provision for impairment losses (7,707 ) (447 ) 8,846,623 155,602 |
Financial Assets Purchased Un_2
Financial Assets Purchased Under Reverse Repurchase Agreements (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Financial Assets Purchased Under Reverse Repurchase Agreements | Classified by collateral: As of December 31, 2021 2022 RMB’000 RMB’000 Bonds (a) 5,527,177 — (a) The Group enters into purchases of assets under reverse repurchase agreements. The Group may not take physical possession of assets purchased under such agreements. In the event of default by the counterparty to repurchase the assets, the Group has the right to the underlying assets. The difference between the purchasing price and reselling price is recognized as investment income over the term of the agreement using the effective interest method. |
Accounts And Other Receivable_2
Accounts And Other Receivables And Contract Assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of financial assets [line items] | |
Disclosure Of Detailed Information About Accounts and Other Receivables and Contract Assets [Text Block] | The Group As of December 31, 2021 2022 RMB’000 RMB’000 Contract acquisition cost ( f 7,964,247 6,236,822 Receivables from core retail credit and enablement service 7,380,284 3,736,176 Receivables from external payment services providers (a) 2,665,300 1,826,203 Trust statutory deposits (b) 1,359,642 1,058,355 Receivables for shares repurchase program (Note 38(a)) 870,006 859,772 Receivables from referral arrangements 288,164 586,461 Receivables from other technology platform-based service 764,571 508,202 Other deposits 542,817 505,764 Receivables from guarantee arrangements 410,577 430,908 Receivables from ADS income 111,933 95,246 Receivables from exercise of share options 36,036 197 Others 582,044 553,530 Less: Provision for impairment losses (c) (630,848 ) (639,501 ) 22,344,773 15,758,135 (a) The Group maintains accounts with external online payment service providers to transfer deposits of platform investors, collect principal and interest from borrowers and dispatch loan proceeds to borrowers. The Group recorded the related amounts as receivables from external payment service providers. (b) The balances represent cash deposited in China Trust Protection Fund Co., Ltd. as required by trust regulations. (f) As of December 31, 2021 and 2022, the remaining amount of consideration the Group expected to receive is higher than the carrying amount of contract acquisition cost. As such, no loss allowanc e |
Disclosure Of Detailed Information About Maturity Analysis Of Receivables Explanatory | The following table s e As of December 31, 2021 2022 RMB’000 RMB’000 Up to 1 year 8,673,176 5,107,630 1 to 2 years 78,420 117,620 2 to 3 years 9,931 30,548 Above 3 years 82,069 5,949 8,843,596 5,261,747 |
Disclosure Of Detailed Information About Movements In Provision for Impairment Losses [Text Block] | (c) The following table sets forth the movements in the provision for impairment losses: Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 At the beginning of the year 401,626 688,378 630,848 Impairment loss recognized in the consolidated statement of comprehensive income 1,499,344 991,903 1,140,937 Written off during the year (1,283,858 ) (1,083,618 ) (1,172,660 ) Recovery of receivables written off previously 71,266 34,185 40,376 At the end of the year 688,378 630,848 639,501 |
Schedule Of Aging Analysis Of Receivables Generated From Activities | (d) The loss allowance as of December 31, 2021 was determined against receivables from core retail credit and enablement service, other technology platform-based service and referral and guarantee arrangements, as follows: As of December 31, 2021 Current 1-90 days past 91-180 days past due Total RMB’000 RMB’000 RMB’000 RMB’000 Expected loss rate 2.36 % 89.87 % 94.83 % 7.12 % Receivables from core retail credit and enablement service 6,943,369 201,188 235,727 7,380,284 Receivables from other technology platform-based service 764,571 — — 764,571 Receivables from referral arrangements 288,164 — — 288,164 Receivables from guarantee arrangements 379,493 18,069 13,015 410,577 Loss allowance (197,933 ) (197,042 ) (235,873 ) (630,848 ) (e) The loss allowance as of December 31, 2022 was determined against receivables from core retail credit and enablement service, other technology platform-based service and referral and guarantee arrangements, as follows: As of December 31, 2022 Current 1-90 days past 91-180 days past due Total RMB’000 RMB’000 RMB’000 RMB’000 Expected loss rate 3.11 % 92.34 % 93.11 % 12.15 % Receivables from core retail credit and enablement service 3,315,385 176,470 244,321 3,736,176 Receivables from other technology platform-based service 508,202 — — 508,202 Receivables from referral arrangements 586,461 — — 586,461 Receivables from guarantee arrangements 321,228 52,191 57,489 430,908 Loss allowance (147,337 ) (211,145 ) (281,019 ) (639,501 ) |
Parent [member] | |
Disclosure of financial assets [line items] | |
Disclosure Of Detailed Information About Accounts and Other Receivables and Contract Assets [Text Block] | The Company As of December 31, 2021 2022 RMB’000 RMB’000 Receivables for shares repurchase program 870,006 859,772 Receivables from subsidiaries 3,623,687 672,128 Receivables from ADS income 111,933 95,246 Receivables from exercise of share options 36,036 197 4,641,662 1,627,343 |
Loans To Customers (Tables)
Loans To Customers (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Loans to Customers [Abstract] | |
Summary of Loans to Customers | As of December 31, 2021 2022 RMB’000 RMB’000 Loans originated by consolidated trust plans 202,175,185 186,396,992 Loans originated by microloan lending companies and consumer finance company 12,587,586 30,109,705 Interest receivable 2,963,210 2,002,926 Less: Provision for impairment losses Stage 1 (1,860,245 ) (4,481,912 ) Stage 2 (312,280 ) (1,197,126 ) Stage 3 (581,346 ) (1,383,940 ) (2,753,871 ) (7,062,978 ) 214,972,110 211,446,645 Expected credit loss rate 1.26 % 3.23 % |
Summary of Movement in Loans to Customers | ( c The following table sets forth the movement of gross carrying amount of loans to customers for the year ended December 31, 2020: Year ended December 31, 2020 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2020 47,052,175 324,440 1,373,211 48,749,826 New loans originated 141,924,691 — — 141,924,691 Transfers (2,124,274 ) 1,713,887 410,387 — — From stage 1 to stage 2 (1,806,096 ) 1,806,096 — — — From stage 1 to stage 3 (324,045 ) — 324,045 — — From stage 2 to stage 1 5,867 (5,867 ) — — — From stage 2 to stage 3 — (98,355 ) 98,355 — — From stage 3 to stage 2 — 12,013 (12,013 ) — Loans de-recognized (67,284,010 ) (1,198,510 ) (195,666 ) (68,678,186 ) Write-offs — — (1,181,312 ) (1,181,312 ) As of December 31, 2020 119,568,582 839,817 406,620 120,815,019 ( d The following table sets forth the movement of ECL allowance for the year ended December 31, 2020: Year ended December 31, 2020 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2020 136,396 53,258 1,061,660 1,251,314 New loans originated 373,266 — — 373,266 Transfers (107,551 ) 213,807 378,215 484,471 — From stage 1 to stage 2 (101,324 ) 101,324 — — — From stage 1 to stage 3 (7,322 ) — 7,322 — — From stage 2 to stage 1 4,161 (4,161 ) — — — From stage 2 to stage 3 — (49,632 ) 49,632 — — From stage 3 to stage 2 — 1,344 (1,344 ) — Net impact on expected credit loss by stage transfers (3,066 ) 164,932 322,605 484,471 Loans de-recognized (203,494 ) (89,632 ) (119,197 ) (412,323 ) Change in parameters of expected credit loss model 282,237 17,906 (664 ) 299,479 Write-offs — — (1,181,312 ) (1,181,312 ) Recovery of loans written off previously — — 174,310 174,310 As of December 31, 2020 480,854 195,339 313,012 989,205 ( e The following table sets forth the movement of gross carrying amount of loans to customers for the year ended December 31, 2021: Year ended December 31, 2021 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2021 119,568,582 839,817 406,620 120,815,019 New loans originated 234,198,681 — — 234,198,681 Transfers (5,530,212 ) 4,439,585 1,090,627 — — From stage 1 to stage 2 (5,579,855 ) 5,579,855 — — — From stage 2 to stage 1 49,643 (49,643 ) — — — From stage 2 to stage 3 — (1,091,109 ) 1,091,109 — — From stage 3 to stage 2 — 482 (482 ) — Loans de-recognized (132,711,645 ) (3,703,157 ) (25,534 ) (136,440,336 ) Write-offs — — (847,383 ) (847,383 ) As of December 31, 2021 215,525,406 1,576,245 624,330 217,725,981 ( f The following table sets forth the movement of ECL allowance for the year ended December 31, 2021: Year ended December 31, 2021 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2021 480,854 195,339 313,012 989,205 New loans originated 1,346,940 — — 1,346,940 Transfers. . (1,104,156 ) 454,235 1,045,357 395,436 — From stage 1 to stage 2 (1,109,405 ) 1,109,405 — — — From stage 2 to stage 1 16,509 (16,509 ) — — — From stage 2 to stage 3 — (1,000,215 ) 1,000,215 — — From stage 3 to stage 2 — 458 (458 ) — Net impact on expected credit loss by stage transfers (11,260 ) 361,096 45,600 395,436 Loans de-recognized (622,468 ) (470,524 ) (124,794 ) (1,217,786 ) Change in parameters of expected credit loss model 1,759,075 133,230 24,216 1,916,521 Write-offs — — (847,383 ) (847,383 ) Recovery of loans written off previously — — 170,938 170,938 As of December 31, 2021 1,860,245 312,280 581,346 2,753,871 ( g The following table sets forth the movement of gross carrying amount of loans to customers for the year ended December 31, 2022: Year ended December 31, 2022 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2022 215,525,406 1,576,245 624,330 217,725,981 New loans originated 215,834,125 — — 215,834,125 Transfers (17,245,234 ) 13,239,242 4,005,992 — — From stage 1 to stage 2 (17,540,156 ) 17,540,156 — — — From stage 2 to stage 1 294,922 (294,922 ) — — — From stage 2 to stage 3 — (4,015,845 ) 4,015,845 — — From stage 3 to stage 2 — 9,853 (9,853 ) — Loans de-recognized (201,023,209 ) (10,854,775 ) (159,277 ) (212,037,261 ) Write-offs — — (3,013,222 ) (3,013,222 ) As of December 31, 2022 213,091,088 3,960,712 1,457,823 218,509,623 ( h The following table sets forth the movement of ECL allowance for the year ended December 31, 2022: Year ended December 31, 2022 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2022 1,860,245 312,280 581,346 2,753,871 New loans originated 1,609,220 — — 1,609,220 Transfers (3,550,516 ) 1,088,799 3,840,446 1,378,729 — From stage 1 to stage 2 (3,573,960 ) 3,573,960 — — — From stage 2 to stage 1 54,161 (54,161 ) — — — From stage 2 to stage 3 — (3,575,710 ) 3,575,710 — — From stage 3 to stage 2 — 9,329 (9,329 ) — Net impact on expected credit loss by stage transfers (30,717 ) 1,135,381 274,065 1,378,729 Loans de-recognized (1,707,206 ) (403,559 ) (214,194 ) (2,324,959 ) Change in parameters of expected credit loss model 6,270,169 199,606 42,624 6,512,399 Write-offs — — (3,013,222 ) (3,013,222 ) Recovery of loans written off previously — — 146,940 146,940 As of December 31, 2022 4,481,912 1,197,126 1,383,940 7,062,978 As of December 31, 2022, loans to customers amounting to RMB3,013 million were written off in 2022 and were still subject to enforcement activity. The enforcement activity includes the amounts written off in previous years. |
Deferred Tax Assets And Defer_2
Deferred Tax Assets And Deferred Tax Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Deferred tax assets and liabilities [abstract] | |
Summary of Deferred Income Assets and Liabilities Net | Deferred income assets and liabilities of the Group are set out as follows: As of December 31, 2021 2022 RMB’000 RMB’000 Deferred tax assets 4,873,370 4,990,352 Deferred tax liabilities (833,694 ) (694,090 ) Net amount 4,039,676 4,296,262 |
Summary of Deferred Tax Assets | (a) The following table sets forth the details of deferred tax assets: As of December 31, 2021 2022 RMB’000 RMB’000 Provision for asset impairments 986,943 1,303,345 Guarantee liabilities 674,277 1,440,842 Revenue recognition—differences between accounting and tax book 1,635,551 1,252,255 Employee benefit payables 751,926 483,747 Accrued expenses 489,544 355,999 Deductible tax losses 194,627 217,501 Changes in fair value 140,242 170,471 Others 63,476 25,360 4,936,586 5,249,520 |
Summary of Deductible Temporary Differences and Deductible Losses that are not Recognized as Deferred Tax Assets | (b) Deductible temporary differences and deductible losses that are not recognized as deferred tax assets are analyzed as follows: As of December 31, 2021 2022 RMB’000 RMB’000 Deductible temporary differences 2,720,263 3,792,705 Deductible losses 2,432,434 2,135,395 5,152,697 5,928,100 |
Summary of Deductible Losses that are not Recognized as Deferred Tax Assets Expiration | (c) Deductible losses that are not r e As of December 31, 2021 2022 RMB’000 RMB’000 2022 7,433 6,149 2023 124,678 120,824 2024 365,455 310,412 2025 71,574 158,783 2026 169,894 33,382 2027 — 263,800 No due date 1,693,400 1,242,045 2,432,434 2,135,395 |
Summary of Movements in Deferred Tax Asset | (d) The following table sets forth the movements of the deferred tax asset: Movements Deductible Provision for Employee Accrued Guarantee Revenue recognition - Others (Include Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As of January 1, 2020 1,047,234 939,239 563,567 430,965 60,687 — 148,864 3,190,556 Credited/(charged) - to profit or loss (465,909 ) 429,454 62,481 97,695 126,482 — 120,166 370,369 As of December 31, 2020 581,325 1,368,693 626,048 528,660 187,169 — 269,030 3,560,925 Credited/(charged) - to profit or loss (386,698 ) (381,750 ) 125,878 (39,116 ) 487,108 1,635,551 (65,312 ) 1,375,661 As of December 31, 2021 194,627 986,943 751,926 489,544 674,277 1,635,551 203,718 4,936,586 Credited/(charged) - to profit or loss 22,874 316,402 (268,179 ) (133,545 ) 766,565 (383,296 ) (7,887 ) 312,934 As of December 31, 2022 217,501 1,303,345 483,747 355,999 1,440,842 1,252,255 195,831 5,249,520 |
Summary of Deferred Tax Liabilities | (e) The following table sets forth for the details of deferred tax liabilities: As of December 31, 2021 2022 RMB’000 RMB’000 Unrealized consolidated earnings 576,472 672,661 Intangible assets arisen from business combination 211,565 211,565 Changes in fair value 77,271 57,471 Effective interest adjustment 18,045 — Revenue recognition differences between accounting and tax book — — Others 13,557 11,561 896,910 953,258 |
Summary of Movements in Deferred Tax Liabilities | (f) The following table sets forth the movements of the deferred tax liabilities: Movements Revenue Intangible Unrealized consolidated Effective Changes in Others Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As of January 1, 2020 4,476,834 452,258 295,637 260,671 16,956 16 5,502,372 Charged/(credited) - to profit or loss (318,850 ) — 139,213 601,364 3,513 8,382 433,622 As of December 31, 2020 4,157,984 452,258 434,850 862,035 20,469 8,398 5,935,994 Charged/(credited) - to profit or loss (4,157,984 ) (240,693 ) 141,622 (843,990 ) 56,802 5,159 (5,039,084 ) As of December 31, 2021 — 211,565 576,472 18,045 77,271 13,557 896,910 Charged/(credited) - to profit or loss — — 96,189 (18,045 ) (19,800 ) (1,996 ) 56,348 As of December 31, 2022 — 211,565 672,661 — 57,471 11,561 953,258 |
Summary of Net Balances of Deferred Tax Assets and Liabilities | (g) The following table sets forth the net balances of deferred tax assets and liabilities after offsetting: As of December 31, 2021 2022 Offset amount Balance after offsetting Offset amount Balance after offsetting RMB’000 RMB’000 RMB’000 RMB’000 Deferred tax assets (63,216 ) 4,873,370 (259,168 ) 4,990,352 Deferred tax liabilities 63,216 (833,694 ) 259,168 (694,090 ) |
Property And Equipment (Tables)
Property And Equipment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Summary of Property and Equipment | Buildings, office and Leasehold Total RMB’000 RMB’000 RMB’000 As of January 1, 2020 Cost 590,724 761,009 1,351,733 Accumulated depreciation (293,759 ) (540,737 ) (834,496 ) Net book amount 296,965 220,272 517,237 Year ended December 31, 2020 Opening net book amount 296,965 220,272 517,237 Additions 61,403 86,892 148,295 Disposals (14,463 ) (164 ) (14,627 ) Depreciation charge (96,797 ) (130,065 ) (226,862 ) Closing net book amount 247,108 176,935 424,043 As of December 31, 2020 Cost 601,764 804,164 1,405,928 Accumulated depreciation (354,656 ) (627,229 ) (981,885 ) Net book amount 247,108 176,935 424,043 Buildings, office and Leasehold Total RMB’000 RMB’000 RMB’000 As of January 1, 2021 Cost 601,764 804,164 1,405,928 Accumulated depreciation (354,656 ) (627,229 ) (981,885 ) Net book amount 247,108 176,935 424,043 Year ended December 31, 2021 Opening net book amount 247,108 176,935 424,043 Additions 65,971 90,645 156,616 Disposals (6,676 ) (391 ) (7,067 ) Depreciation charge (92,464 ) (101,047 ) (193,511 ) Closing net book amount 213,939 166,142 380,081 As of December 31, 2021 Cost 626,583 849,946 1,476,529 Accumulated depreciation (412,644 ) (683,804 ) (1,096,448 ) Net book amount 213,939 166,142 380,081 Buildings, office and Leasehold Total RMB’000 RMB’000 RMB’000 As of January 1, 2022 Cost 626,583 849,946 1,476,529 Accumulated depreciation (412,644 ) (683,804 ) (1,096,448 ) Net book amount 213,939 166,142 380,081 Year ended December 31, 2022 Opening net book amount 213,939 166,142 380,081 Additions 44,915 81,100 126,015 Disposals (4,601 ) (1,197 ) (5,798 ) Depreciation charge (74,057 ) (103,742 ) (177,799 ) Closing net book amount 180,196 142,303 322,499 As of December 31, 2022 Cost 602,743 916,081 1,518,824 Accumulated depreciation (422,547 ) (773,778 ) (1,196,325 ) Net book amount 180,196 142,303 322,499 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about intangible assets [line items] | |
Summary of Intangible Assets | Trademarks and licenses Computer software and others Total RMB’000 RMB’000 RMB’000 As of January 1, 2020 Cost 1,815,576 633,857 2,449,433 Accumulated amortization (5,000 ) (483,649 ) (488,649 ) Impairment — (64,209 ) (64,209 ) Net book amount 1,810,576 85,999 1,896,575 Year ended December 31, 2020 Opening net book amount 1,810,576 85,999 1,896,575 Additions — 17,718 17,718 Amortization charge — (31,831 ) (31,831 ) Closing net book amount 1,810,576 71,886 1,882,462 As of December 31, 2020 Cost 1,815,576 255,063 2,070,639 Accumulated amortization (5,000 ) (118,968 ) (123,968 ) Impairment — (64,209 ) (64,209 ) Net book amount 1,810,576 71,886 1,882,462 Trademarks and licenses Computer software and others Total RMB’000 RMB’000 RMB’000 As of January 1, 2021 Cost 1,815,576 255,063 2,070,639 Accumulated amortization (5,000 ) (118,968 ) (123,968 ) Impairment — (64,209 ) (64,209 ) Net book amount 1,810,576 71,886 1,882,462 Year ended December 31, 2021 Opening net book amount 1,810,576 71,886 1,882,462 Additions — 3,126 3,126 Impairment (963,948 ) — (963,948 ) Amortization charge — (22,234 ) (22,234 ) Closing net book amount 846,628 52,778 899,406 As of December 31, 2021 Cost 1,815,576 258,189 2,073,765 Accumulated amortization (5,000 ) (141,202 ) (146,202 ) Impairment (963,948 ) (64,209 ) (1,028,157 ) Net book amount 846,628 52,778 899,406 Trademarks and licenses Computer software and others Total RMB’000 RMB’000 RMB’000 As of January 1, 2022 Cost 1,815,576 258,189 2,073,765 Accumulated amortization (5,000 ) (141,202 ) (146,202 ) Impairment (963,948 ) (64,209 ) (1,028,157 ) Net book amount 846,628 52,778 899,406 Year ended December 31, 2022 Opening net book amount 846,628 52,778 899,406 Additions — 2,134 2,134 Disposals — (756 ) (756 ) Impairment — (403 ) (403 ) Amortization charge — (15,325 ) (15,325 ) Closing net book amount 846,628 38,428 885,056 As of December 31, 2022 Cost 1,389,576 253,145 1,642,721 Accumulated amortization (5,000 ) (150,105 ) (155,105 ) Impairment (537,948 ) (64,612 ) (602,560 ) Net book amount 846,628 38,428 885,056 |
Intangible assets other than goodwill [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Summary of Key Assumptions Used for Value-in-use Calculations | The key assumptions used for value-in-use As of December 31, 2020 2021 2022 Pre-tax 26% 26% 21%-25% Revenue growth rates 3%-275% 3%-8% -47%-58% Long term growth rate 3% 3% 2% |
Summary of Recoverable Amount of Cash Generating Units Exceeding Carrying Amount | The recoverable amount of Puhui’s trademark exceeded its carrying amount: As of December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Recoverable amount of the CGU exceeded its carrying amount 3,895,059 3,795,189 4,761,332 |
Summary of Possible Changes of Key Assumptions of Cash Generating Units | The following table sets forth the impact of reasonable possible changes in each of the key assumptions, with all other variables held constant, on Puhui’s trademark right impairment testing at the dates indicated. As shown below, the possible changes of key parameters would not cause the carrying amount of the CGU to exceed its recoverable amount at the dates indicated. Recoverable amount of the CGU exceeded its carrying amount As of December 31, Possible changes of key assumptions 2020 2021 2022 RMB’000 RMB’000 RMB’000 Revenue growth rate decrease by 5% 3,772,487 3,711,922 4,524,074 Pre-tax 3,690,604 3,597,045 4,428,832 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary Of Amounts Related To Leases | The statement of financial position shows the following amounts relating to leases: As of December 31, 2021 2022 Right-of-use RMB’000 RMB’000 Properties 804,990 754,010 Lease liabilities 794,544 748,807 |
Summary Of Depreciation Charge Of Right Of Use Assets | The statement of profit or loss shows the following amounts relating to leases: Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Depreciation charge of right-of-use 604,018 608,889 578,014 Interest expense (included in finance costs) 46,567 38,709 41,402 Expense relating to short-term leases (included in operation and servicing expenses; general and administrative expenses; technology and analytics expenses; and sales and marketing expenses) 115,741 55,408 37,376 Expense relating to leases of low-value 26,684 25,550 25,548 |
Summary Of Movement Of Right Of Use Assets | Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Opening net book amount 914,960 973,547 804,990 Additions 697,403 501,663 589,488 Early termination (34,798 ) (61,331 ) (62,454 ) Depreciation charge (604,018 ) (608,889 ) (578,014 ) Closing net book amount 973,547 804,990 754,010 As of December 31, 2021 2022 RMB’000 RMB’000 Cost 1,810,222 1,500,951 Accumulated depreciation (1,005,232 ) (746,941 ) Net book amount 804,990 754,010 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of reconciliation of changes in goodwill [line items] | |
Summary of Reconciliation of Changes in Goodwill | As of January 1, 2020 Increase Decrease As of December 31, 2020 RMB’000 RMB’000 RMB’000 RMB’000 Puhui 8,911,445 — — 8,911,445 Tianjin Guarantee 126,207 — — 126,207 Pingan Jixin 67,752 — — 67,752 Lu International (Hong Kong) Limited 6,663 — — 6,663 Yunque Dongfang 2,800 — — 2,800 Jinniu Loan 2,515 — — 2,515 9,117,382 — — 9,117,382 Less: Impairment losses (70,552 ) — — (70,552 ) 9,046,830 — — 9,046,830 As of January 1, 2021 Increase Decrease As of December 31, 2021 RMB’000 RMB’000 RMB’000 RMB’000 Puhui 8,911,445 — — 8,911,445 Tianjin Guarantee 126,207 — — 126,207 Pingan Jixin 67,752 — — 67,752 Lu International (Hong Kong) Limited 6,663 — — 6,663 Yunque Dongfang 2,800 — — 2,800 Jinniu Loan 2,515 — — 2,515 9,117,382 — — 9,117,382 Less: Impairment losses (70,552 ) (128,722 ) — (199,274 ) 9,046,830 (128,722 ) — 8,918,108 As of January 1, 2022 Increase Decrease As of December 31, 2022 RMB’000 RMB’000 RMB’000 RMB’000 Puhui 8,911,445 — — 8,911,445 Tianjin Guarantee 126,207 — (126,207 ) — Pingan Jixin 67,752 — — 67,752 Lu International (Hong Kong) Limited 6,663 — — 6,663 Yunque Dongfang 2,800 — (2,800 ) — Jinniu Loan 2,515 — — 2,515 9,117,382 — (129,007 ) 8,988,375 Less: Impairment losses (a) (199,274 ) (6,663 ) 129,007 (76,930 ) 8,918,108 (6,663 ) — 8,911,445 (a) As of December 31, 2022, Pingan Jixin, Lu International (Hong Kong) Limited, and Jinniu Loan were fully impaired. Tianjin Guarantee and Yunque Dongfang were written off. |
Goodwill [member] | |
Disclosure of reconciliation of changes in goodwill [line items] | |
Summary of Key Assumptions Used for Value-in-use Calculations | The key assumptions used for value-in-use As of December 31, 2020 2021 2022 Pre-tax 24%-27% 27% 19% Revenue growth rates 3%-275% 3%-8% -22%-30% Long term growth rate 3% 3% 2% |
Summary of Recoverable Amount of Cash Generating Units Exceeding Carrying Amount | The recoverable amount of Puhui exceeded its carrying amount: As of December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Recoverable amount of the CGU exceeded its carrying amount 58,347,954 46,780,343 31,032,688 |
Summary of Possible Changes of Key Assumptions of Cash Generating Units | The following table sets forth the impact of reasonable possible changes in e Recoverable amount of the CGU exceeded its carrying amount As of December 31, Possible changes of key assumptions 2020 2021 2022 RMB’000 RMB’000 RMB’000 Revenue growth rate decrease by 5% 51,446,124 45,153,184 12,785,375 Pre-tax 54,371,643 43,239,361 25,826,383 |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Detailed Information About Other Assets | As of December 31, 2021 2022 RMB’000 RMB’000 Prepaid income tax and value-added tax 553,938 697,820 Recoverable value-added tax 500,436 646,257 Derivative financial assets (a )(b ) 38,403 447,443 Prepayments 114,380 101,879 Repossessed assets 37,085 30,077 Deferred expenses 24,133 29,277 Others 12,210 30,536 1,280,585 1,983,289 Less: Provisions for impairment (31,161 ) (24,548 ) 1,249,424 1,958,741 |
Summary of Detailed Information About Interest Rate Swaps | (a) Interest rate swap As of December 31, 2021 2022 (’000) (’000) Carrying amount RMB38,403 RMB222,086 Notional amount USD1,290,000 USD1,290,000 Maturity date 18/05/202 18/05/202 Pay type Fixed Fixed Receive type 1 month 1 month |
Summary of Detailed Information About Foreign Currency Swap | (b) Foreign currency swap As of December 31, 2022 (’000) Carrying amount RMB225,357 Notional amount USD1,050,000 Maturity date 06/04/2023 15/05/2023 Pay side RMB Receive side USD |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of detailed information about borrowings [line items] | |
Summary of Borrowings | As of December 31, 2021 2022 RMB’000 RMB’000 Secured - Bank borrowings (a) 2,991,890 1,343,970 Unsecured - Bank borrowings (b) 22,816,450 35,251,477 - Corporate borrowings 388 — 25,808,728 36,595,447 Interest payable 118,689 320,066 Total borrowings 25,927,417 36,915,513 |
Summary of Interest Rates of Borrowings | The following table sets forth the range of interest rates of borrowings as of December 31, 202 1 As of December 31, 2021 2022 Bank borrowings - fixed rate 2.80%-4.80% 2.70%-4.30% Bank borrowings - floating rate 1.35%-1.92% 1.72%-5.59% Corporate borrowings - fixed rate 0.78% N/A |
Parent [member] | |
Disclosure of detailed information about borrowings [line items] | |
Summary of Borrowings | The Company As of December 31, 2021 2022 RMB’000 RMB’000 Unsecured - Bank borrowings 318,785 138,860 Interest payable 1,141 194 Total borrowings 319,926 139,054 |
Bond payable (Tables)
Bond payable (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Disclosure Of Detailed Information Of Bonds Payable | As of December 31, 2022 RMB’000 New issued bonds 2,010,782 Interest accrued at effective interest rate 57,267 Interest paid — Exchange differences 75,299 Carrying value as of December 31, 2022 2,143,348 |
Accounts And Other Payables A_2
Accounts And Other Payables And Contract Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Accounts and other payables and contract liabilities [Line Items] | |
Summary of Accounts And Other Payables And Contract Liabilities | The Group As of December 31, 2021 2022 RMB’000 RMB’000 Unpaid redemption consideration for convertible promissory notes (Note 34(a)) — 3,745,929 Contract liabilities from retail credit and enablement service 1,107,263 3,067,715 Employee benefit payable 4,041,847 2,715,543 Tax payable 831,329 846,402 Payable to cooperation banks (a) 702,844 471,339 Payable to investees 431,148 430,616 Payable to external suppliers (c) 401,209 193,283 Trust management fee payable (c) 415,817 57,976 Cash compensation of Class C ordinary shares restructuring 46,749 21,205 Other deposits payable 108,291 221,671 Payable for purchase of trust plan 137,724 — Others (b) 590,034 426,975 8,814,255 12,198,654 |
Parent [member] | |
Disclosure Of Accounts and other payables and contract liabilities [Line Items] | |
Summary of Accounts And Other Payables And Contract Liabilities | The Company As of December 31, 2021 2022 RMB’000 RMB’000 Unpaid redemption consideration for convertible promissory notes (Note 34(a)) — 3,745,929 Cash compensation of Class C ordinary shares restructuring 46,749 21,205 Payable to external suppliers — 94 Employee benefit payable — — Others 28,179 36,415 74,928 3,803,643 |
Payable To Investors of Conso_2
Payable To Investors of Consolidated Structured Entities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Payable To Investors of Consolidated Structured Entities [Abstract] | |
Summary of Payable To Investors of Consolidated Structured Entities | As of December 31, 2021 2022 RMB’000 RMB’000 Payable to investors of consolidated trust plans 195,262,648 177,102,034 Payable to investors of consolidated wealth management plans 183,492 45,692 195,446,140 177,147,726 |
Financing Guarantee Liabiliti_2
Financing Guarantee Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Movement of gross carrying amount of financing guarantee contracts | (a) The following table sets forth the movement of gross carrying amount of financing guarantee contracts for the year ended December 31, 2020: Year ended December 31, 2020 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2020 4,600,281 39,050 — 4,639,331 New guarantee contracts originated 23,031,641 — — 23,031,641 Transfers (373,494 ) 373,494 — — — From stage 1 to stage 2 (392,721 ) 392,721 — — — From stage 2 to stage 1 19,227 (19,227 ) — — Guarantee liabilities de-recognized (6,359,929 ) (342,017 ) — (6,701,946 ) As of December 31, 2020 20,898,499 70,527 — 20,969,026 (b) The following table sets forth the movement of ECL allowance of financing guarantee contracts for the year ended December 31, 2020: Year ended December 31, 2020 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2020 211,913 30,836 — 242,749 New guarantee contracts originated 344,770 — — 344,770 Transfers (228,744 ) 294,153 — 65,409 — From stage 1 to stage 2 (233,701 ) 233,701 — — — From stage 2 to stage 1 14,823 (14,823 ) — — Net impact on expected credit loss by stage transfers (9,866 ) 75,275 — 65,409 Guarantee liabilities de-recognized (217,235 ) (272,243 ) — (489,478 ) Change in parameters of expected credit loss model 577,376 7,848 — 585,224 As of December 31, 2020 688,080 60,594 — 748,674 (c) The following table sets forth the movement of gross carrying amount of financing guarantee contracts for the year ended December 31, 2021: Year ended December 31, 2021 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2021 20,898,499 70,527 — 20,969,026 New guarantee contracts originated 71,968,587 — — 71,968,587 Transfers (1,261,287 ) 1,261,287 — — — From stage 1 to stage 2 (1,296,115 ) 1,296,115 — — — From stage 2 to stage 1 34,828 (34,828 ) — — Guarantee liabilities de-recognized (27,188,881 ) (1,017,363 ) — (28,206,244 ) As of December 31, 2021 64,416,918 314,451 — 64,731,369 (d) The following table sets forth the movement of ECL allowance of financing guarantee contracts for the year ended December 31, 2021: Year ended December 31, 2021 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2021 688,080 60,594 — 748,674 New guarantee contracts originated 1,126,819 — — 1,126,819 Transfers (978,068 ) 1,175,369 — 197,301 — From stage 1 to stage 2 (993,204 ) 993,204 — — — From stage 2 to stage 1 32,580 (32,580 ) — — Net impact on expected credit loss by stage transfers (17,444 ) 214,745 — 197,301 Guarantee liabilities de-recognized (911,219 ) (954,257 ) — (1,865,476 ) Change in parameters of expected credit loss model 2,476,773 13,018 — 2,489,791 As of December 31, 2021 2,402,385 294,724 — 2,697,109 (e) The following table sets forth the movement of gross carrying amount of financing guarantee contracts for the year ended December 31, 2022: Year ended December 31, 2022 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2022 64,416,918 314,451 — 64,731,369 New guarantee contracts originated 59,085,462 — — 59,085,462 Transfers (5,760,786 ) 5,760,786 — — — From stage 1 to stage 2 (5,887,854 ) 5,887,854 — — — From stage 2 to stage 1 127,068 (127,068 ) — — Guarantee liabilities de-recognized (50,729,902 ) (4,583,991 ) — (55,313,893 ) As of December 31, 2022 67,011,692 1,491,246 — 68,502,938 (f) The following table sets forth the movement of ECL allowance of financing guarantee contracts for the year ended December 31, 2022: Year ended December 31, 2022 RMB’000 RMB’000 RMB’000 RMB’000 Stage 1 Stage 2 Stage 3 Total As of January 1, 2022 2,402,385 294,724 — 2,697,109 New guarantee contracts originated 980,980 — — 980,980 Transfers (4,462,900 ) 5,388,205 — 925,305 — From stage 1 to stage 2 (4,514,480 ) 4,514,480 — — — From stage 2 to stage 1 114,996 (114,996 ) — — Net impact on expected credit loss by stage transfers (63,416 ) 988,721 — 925,305 Guarantee liabilities de-recognized (2,201,596 ) (4,336,572 ) — (6,538,168 ) Change in parameters of expected credit loss model 7,656,851 41,292 — 7,698,143 As of December 31, 2022 4,375,720 1,387,649 — 5,763,369 |
Convertible Promissory Note P_2
Convertible Promissory Note Payable (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Convertible Promissory Note Payable | Liabilities Equity RMB’000 RMB’000 Carrying value as of January 1, 2020 10,014,377 5,744,955 Interest accrued at effective interest rate 883,759 — Interest paid (92,981 ) — Exchange differences (687,967 ) — Carrying value as of December 31, 2020 10,117,188 5,744,955 Interest accrued at effective interest rate 893,001 — Interest paid (100,937 ) — Exchange differences (239,754 ) — Carrying value as of December 31, 2021 10,669,498 5,744,955 Interest accrued at effective interest rate 1,045,611 — Interest paid (115,879 ) — Redemption and extension of convertible promissory notes (a) (7,444,513 ) (5,584,770 ) Exchange differences 1,009,422 — Carrying value as of December 31, 2022 5,164,139 160,185 (a) Following the Fourth Amendment and Supplemental Agreement on December 6, 2022, the carrying values of liability and equity components in relation to original Notes were reversed due to extinguishment of original Notes and fair value of new Notes was recognized, giving rise to an increase of RMB174 million in financial costs and RMB6,210 million in share premium and a decrease of RMB5,585 million in other reserves. In consideration of the above redemption and the extension of the maturity date and taking into account the fair market value of the Notes determined by the independent valuers, pursuant to the Fourth Amendment and Supplemental Agreement, the Company agreed to pay PAOH and An Ke a total amount of approximately USD1,071 million (the “Consideration”) together with the unpaid interest accrued on the redeemed notes up to and including the effective date of the Fourth Amendment and Supplemental Agreement. The first tranche payment of the Consideration in the total amount of approximately USD536 million had been paid in December 2022. It is expected that the remaining Consideration would be paid in March 2023 or such other date(s) within one year after the effective date of the Fourth Amendment and Supplemental Agreement as mutually agreed by the Company, PAOH and An Ke. Additional interests shall accrue on the remaining Consideration at a rate of 6.5% per annum, accruing daily from and including the date after the modification date (ie. December 6, 2022) up to but excluding the date on which the unpaid consideration is paid. As of December 31, 2022, the total amount of unpaid considerat ion is |
Optionally Convertible Promis_2
Optionally Convertible Promissory Notes (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of ordinary shares to be issued to the holders of optionally convertible promissory notes [Abstract] | |
Summary of Ordinary Shares to be Issued to the Holders of Optionally Convertible Promissory Notes | Liabilities Equity RMB’000 RMB’000 Carrying value as of December 31, 2020 7,530,542 1,489,748 Interest accrued at effective interest rate 495,079 — Interest paid (446,953 ) — Exchange differences (173,565 ) — Carrying value as of December 31, 2021 7,405,103 1,489,748 Interest accrued at effective interest rate 521,747 — Interest paid (493,134 ) — Exchange differences 709,192 — Carrying value as of December 31, 2022 8,142,908 1,489,748 |
Other Liabilities (Tables)
Other Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosures Of Other Liabilities [Abstract] | |
Summary of Other Liabilities | As of December 31, 2021 2022 RMB’000 RMB’000 Accrued expenses 2,173,256 1,617,983 Payable for other debt investments (a) — 261,851 Derivative financial liabilities (b) 25,772 — Provisions 110,930 112,584 Others 5,990 8,350 2,315,948 2,000,768 |
Summary of Derivative Financial Liabilities | (b) Foreign currency swaps As of December 31, 2021 (’000) Carrying amount RMB25,772 Notional amount USD170,000 Maturity date 01/09/2022 Pay side RMB Receive side USD |
Share Capital And Share Premi_2
Share Capital And Share Premium (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Share Capital And Share Premium [Abstract] | |
Summary of Share Capital and Share Premium | Class A ordinary share Class B ordinary share (a) Ordinary share Number of Share Share Number of Share Share Number of Share Share RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As of January 1, 2020 987,146,871 61 3,242,972 135,196,846 8 10,870,339 — — — Conversion of Class B ordinary shares and Class C ordinary shares to Class A ordinary shares (b) 136,859,460 8 11,278,459 (135,196,846 ) (8 ) (10,870,339 ) — — — Re-designation (1,124,006,331 ) (69 ) (14,521,431 ) — — — 1,124,006,331 69 14,521,431 Issuance of ordinary shares upon IPO and exercise of over-allotment option (d) — — — — — — 99,577,564 7 17,305,119 Conversion of automatically convertible promissory notes to ordinary shares (e) — — — — — — 7,566,665 1 1,386,876 As of December 31, 2020 — — — — — — 1,231,150,560 77 33,213,426 Retirement of ordinary shares (f) — — — — — — (35,644,803 ) (2 ) — Issuance of ordinary shares for share-based payment (g) — — — — — — 8,000,000 — — Exercise of share-based payment — — — — — — — — 152,360 As of December 31, 2021 — — — — — — 1,203,505,757 75 33,365,786 Exercise of share-based payment — — — — — — — — 127,063 Redemption and extension of convertible promissory notes (Note 34(a)) — — — — — — — — 6,209,598 Cash Dividend (Note 45) — — — — — — — — (7,628,573 ) As of December 31, 2022 — — — — — — 1,203,505,757 75 32,073,874 (a) Besides the liquidation preference, holders of Class B ordinary shares were entitled to voting rights and dividend rights similar to Class A ordinary shareholders. Class B ordinary shares were automatically converted into Class A ordinary shares upon the occurrence of a qualified listing. (b) Immediately prior to the Company’s successful IPO on October 30, 2020, all of the Company’s then issued and outstanding 135,196,846 Class B and 1,662,614 Class C ordinary shares were automatically converted into Class A ordinary shares on a one-for-one (c) Immediately prior to the Company’s successful IPO on October 30, 2020, all of the Company’s then issued and outstanding 1,124,006,331 Class A ordinary shares after the conversion of Class B and Class C ordinary shares were re-designated (d) On October 30, 2020, the Company issued and sold 87,500,000 ordinary shares in its IPO with every two ADSs representing one ordinary share. On December 1, 2020, upon partial exercise of the underwriters’ over-allotment options, the Company further issued and sold 12,077,564 ordinary shares. Upon issuance of ordinary shares for the IPO and for the exercise of the over-allotment option, par value of ordinary shares issued was recorded as share capital and the difference between the cash consideration raised as part of the IPO and the exercise of underwriters’ over-allotment options and par value recorded of RMB17,305 million was recorded as share premium. (e) Upon the Company’s successful IPO on October 30, 2020, the automatically convertible promissory notes were automatically converted into 7,566,665 ordinary shares at the IPO price of USD13.5 per ADS (USD27 per ordinary share) with par value of ordinary shares issued recorded as share capital and the difference between the then carrying value of automatically convertible promissory notes and par value recorded of RMB1,387 million was recorded as share premium. (f) The Company’s board of directors previously designated Tun Kung Company Limited, a principal shareholder of the Company, as the entity to hold 35,644,803 shares reserved under the share incentive plans of the Company, pursuant to authorization under the existing plans. (g) The Company issued 8 million shares for the future exercise of share-based payments during the year ended December 31, 2021, which amounted to RMB517. |
Treasury Shares (Tables)
Treasury Shares (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Treasury shares | Shares Amount RMB’000 As of January 1, 2020 35,644,803 2 As of December 31, 2020 35,644,803 2 Repurchase of ordinary shares (a) 53,507,241 5,560,104 Retirement of ordinary shares (Note 37(f)) (35,644,803 ) (2 ) Issuance of ordinary shares for share-based payment (Note 37(g)) 8,000,000 — Exercise of share-based payment (b) (2,219,927 ) — As of December 31, 2021 59,287,314 5,560,104 Repurchase of ordinary shares (a) 1,447,513 82,665 Exercise of share-based payment (b) (3,223,040 ) — As of December 31, 2022 57,511,787 5,642,769 |
Other Reserves (Tables)
Other Reserves (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of Other reserves [Abstract] | |
Disclosure of Other reserves | Employee compensation reserve Translation General reserve Value of (Note 35) Value of conversion redeemable preferred Value of rights - convertible (Note 34) Capital reserve and Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As of January 1, 2020 451,325 (467,819 ) 223,712 — 230,006 5,744,955 (1,599,888 ) 4,582,291 C-round — — — 1,489,748 (219,738 ) — 25,648 1,295,658 Conversion of Class C ordinary shares to ordinary shares upon IPO — — — — (10,268 ) — — (10,268 ) Foreign operation translation difference — 614,399 — — — — — 614,399 Appropriation to general reserve — — 772,466 — — — — 772,466 Share-based payment 164,164 — — — — — — 164,164 As of December 31, 2020 615,489 146,580 996,178 1,489,748 — 5,744,955 (1,574,240 ) 7,418,710 Employee compensation reserve Translation General reserve Value of (Note 35) Value of rights - convertible (Note 34) Capital reserve and Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As of January 1, 2021 615,489 146,580 996,178 1,489,748 5,744,955 (1,574,240 ) 7,418,710 Exercise of share-based payment (72,709 ) — — — — — (72,709 ) Foreign operation translation difference — 28,402 — — — — 28,402 Appropriation to general reserve — — 1,789,034 — — — 1,789,034 Share-based payment 132,071 — — — — — 132,071 Acquisition of non-controlling — — — — — 9,487 9,487 As of December 31, 2021 674,851 174,982 2,785,212 1,489,748 5,744,955 (1,564,753 ) 9,304,995 Employee compensation reserve Translation General reserve Value of (Note 35) Value of rights - convertible (Note 34) Capital reserve and Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As of January 1, 2022 674,851 174,982 2,785,212 1,489,748 5,744,955 (1,564,753 ) 9,304,995 Exercise of share-based payment (68,110 ) — — — — — (68,110 ) Foreign operation translation difference — (1,581,252 ) — — — — (1,581,252 ) Appropriation to general reserve — — 42,078 — — — 42,078 Share-based payment 45,491 — — — — — 45,491 Redemption and extension of convertible promissory notes (Note 34(a)) — — — — (5,584,770 ) — (5,584,770 ) As of December 31, 2022 652,232 (1,406,270 ) 2,827,290 1,489,748 160,185 (1,564,753 ) 2,158,432 |
Commitment (Tables)
Commitment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosures Of Commitments [Abstract] | |
Disclosures Of Commitments Under the Financing Guarantee Contracts | The following table sets forth the balance of such commitment under the financing guarantee contracts for which the Group does not consolidate the underlying loans. As of December 31, 2021 2022 RMB’000 RMB’000 Financing guarantee commitments 64,731,369 68,502,938 |
Note to Consolidated Statemen_2
Note to Consolidated Statements of Cash flows (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of reconciliation from profit before income tax to cash used in operating activities [Abstract] | |
Disclosure of Reconciliation From Profit Before Income Tax to Cash Used In Operating Activities | (a) Reconciliation from profit before income tax expenses to cash generated from operating activities: Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Profits before income tax 17,909,505 23,400,178 13,013,271 Adjustments for: Depreciation of property and equipment 226,862 193,511 177,799 Depreciation of right-of-use 604,018 608,889 578,014 Amortization of intangible assets 31,831 22,234 15,325 Share of loss/(profit) of associates and joint ventures (14,837 ) 31,143 218 Net gains on sale of property and equipment, and intangible assets 184 6,681 24,256 Net unrealized losses on financial assets at fair value through profit or loss 558,044 483,356 212,297 Non-cash 165,248 133,395 45,919 Asset impairment losses 7,168 1,100,882 427,108 Credit impairment losses 2,768,499 5,658,259 11,956,103 Finance cost classified as financing activities 3,137,737 1,808,050 2,502,008 Investment income classified as investing activities (1,127,006 ) (1,592,319 ) (1,460,167 ) Foreign exchange losses/(gains) (192,337 ) (206,753 ) 877,232 24,074,916 31,647,506 28,369,383 Change in operating assets and liabilities, net of effects from purchase of controlled entity: Decrease/(increase) in loans to customers and accounts and other receivables (68,897,073 ) (101,160,641 ) 10,415,490 Increase/(decrease) in accounts and other payables 56,166,868 82,508,406 (24,054,567 ) 11,344,711 12,995,271 14,730,306 |
Disclosure of Net Increase in Cash and Cash Equivalents | (b) Net increase in cash and cash equivalents Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Cash and cash equivalents at the end of the year 23,785,651 26,496,310 29,537,511 Less: Cash and cash equivalents at the beginning of the year (7,312,061 ) (23,785,651 ) (26,496,310 ) Net increase in cash and cash equivalents 16,473,590 2,710,659 3,041,201 |
Disclosure of Cash and Cash Equivalents | (c) Cash and cash equivalents Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Cash at bank (Note 16) 24,158,568 34,743,188 43,882,127 Less: Time deposits with original maturities of more than 3 months (373,102 ) (8,250,270 ) (14,346,731 ) Add: Provision for impairment losses 185 3,392 2,115 Cash and cash equivalents at the end of the year 23,785,651 26,496,310 29,537,511 |
Disclosure of Movements in Net Debt | This section sets out an analysis of net debt and the movements in net debt for each of the years ended December 31, 2020, 2021 and 2022. Borrowings Bond payable Convertible Convertible Lease Optionally Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 As of January 1, 2020 2,989,862 — 10,014,377 10,258,898 939,089 — 24,202,226 Cash flows 7,583,729 — (92,981 ) (928,242 ) (596,575 ) — 5,965,931 C-round — — — (9,234,748 ) — 7,762,475 (1,472,273 ) Conversion of Class C ordinary shares to ordinary shares upon IPO — — — (367,916 ) — — (367,916 ) Acquisitions-leases — — — — 653,251 — 653,251 Disposals-leases — — — — (62,913 ) — (62,913 ) Foreign exchange adjustments (469,452 ) — (687,967 ) (262,678 ) — (359,442 ) (1,779,539 ) Accrued expense 211,306 — 883,759 534,686 46,567 127,509 1,803,827 As of December 31, 2020 10,315,445 — 10,117,188 — 979,419 7,530,542 28,942,594 Cash flows 15,242,903 — (100,937 ) — (663,160 ) (446,953 ) 14,031,853 Acquisitions-leases — — — — 501,663 — 501,663 Disposals-leases — — — — (62,087 ) — (62,087 ) Foreign exchange adjustments (227,077 ) — (239,754 ) — — (173,565 ) (640,396 ) Accrued expense 596,146 — 893,001 — 38,709 495,079 2,022,935 As of December 31, 2021 25,927,417 — 10,669,498 — 794,544 7,405,103 44,796,562 Cash flows 8,675,099 2,010,782 (3,863,265 ) — (604,172 ) (493,134 ) 5,725,310 Redemption of convertible promissory notes — — (3,697,127 ) — — — (3,697,127 ) Acquisitions-leases — — — — 589,488 — 589,488 Disposals-leases — — — — (72,455 ) — (72,455 ) Foreign exchange adjustments 772,437 75,524 1,009,422 — — 709,192 2,566,575 Accrued expense 1,540,560 57,042 1,045,611 — 41,402 521,747 3,206,362 As of December 31, 2022 36,915,513 2,143,348 5,164,139 — 748,807 8,142,908 53,114,715 |
Share-based Payment (Tables)
Share-based Payment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Summary of Employee Share Options | The following table sets forth the changes in the number of outstanding options and the weighted average exercise prices: Average exercise Number of options Outstanding as of January 1, 2020 74.99 25,344 Forfeited during the year 79.23 (3,884 ) As of December 31, 2020 74.22 21,460 Forfeited during the year 91.64 (1,702 ) Exercised during the year 41.43 (1,937 ) As of December 31, 2021 76.12 17,821 Exercised during the period 20.28 (2,821 ) As of December 31, 2022 86.62 15,000 |
Summary of Options at Different Exercise Price | The following table sets forth the outstanding share options as of December 31, 2022 by different exercise price: Number of options Exercise price per share option 8.00 535 50.00 3,738 98.06 7,905 118.00 2,822 15,000 |
Performance Share Units | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |
Summary of Employee Share Options | The following table sets forth the changes in the number of PSUs and weighted average exercise prices: Weighted average grant day fair value Number of units (in ’000) Outstanding as of January 1, 2021 140.87 1,958 Granted during the year 82.60 1,590 Exercised during the year 141.69 (283 ) Forfeited and other change during the year 152.70 (223 ) Outstanding as of December 31, 2021 109.47 3,042 Granted during the year 60.78 40 Exercised during the year 112.47 (402 ) Forfeited and other change during the year 286.29 (325 ) Outstanding as of December 31, 2022 83.73 2,355 |
Summary of Options Granted Priced Using Binomial Option Pricing Model | The following table sets forth the key assumptions used in the Monte Carlo Simulation model for the share units granted during the years ended December 31, 2021 and 2022. PSUs granted in Year ended December 31, 2021 2022 Risk-free rate 0.94%-1.70% 1.36%-3.37% Expected volatility rate 55.40%-59.70% 55.40%-60.05% Expected dividend yield 0.00%-3.00% 0.00%-3.01% |
Related parties and related p_2
Related parties and related party transactions (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Related Party Name | The following table sets forth the major related parties which have major transactions with the Group during the years ended December 31, 2020, 2021 and 2022: Name of related parties Relationship with the Company Ping An Insurance (Group) Company of China, Ltd. Significant influence on the Group and its subsidiaries |
Summary of Related Party Transactions | Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Technology platform based income Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 635,143 1,414,885 1,529,485 Other income Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 1,234,616 3,538,974 1,053,718 Investment income Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 261,148 594,446 338,252 Finance costs-Interest income Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 147,638 247,238 281,130 Finance costs-Interest expense Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 67,468 6,151 25,435 Sales and marketing expenses, general and administrative expenses, operation and servicing expenses, and technology and analytics expenses Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 3,090,052 3,294,358 2,919,391 Other gains/(losses) – net Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries (499,543 ) (211,674 ) 350,329 |
Summary of Related Party Transactions Outstanding | As of December 31, 2021 2022 RMB’000 RMB’000 Trade related (i) Cash Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 9,648,043 14,316,239 Account and other receivables and contract assets Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 1,386,252 1,310,245 Accounts and other payables and contract liabilities and other liabilities Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 723,646 560,888 As of December 31, 2021 2022 RMB’000 RMB’000 Non-trade related Account and other receivables and contract assets and other assets Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 1,665,875 1,641,361 Payable to platform investors, accounts and other payables and contract liabilities and other liabilities Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 78,102 3,839,817 Financial assets at amortized cost Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 1,279,156 2,504,622 Borrowings Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries — 820,716 Financial assets at fair value through profit or loss Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries 3,500,726 — (i) The balances with related parties were unsecured, interest-free and repayable on demand. |
Summary of Compensation of key Management Personnel | The following table sets forth the compensations paid or payable to key management for employee services: Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Wages and salaries 29,192 26,728 21,081 Welfare and other benefits 34,560 29,804 16,038 Including: Bonuses 28,061 24,066 8,617 Share-based payment 68,771 56,317 22,719 132,523 112,849 59,838 |
Benefits and interests of dir_2
Benefits and interests of directors (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Benefits And Interest Of Directors [Abstract] | |
Summary of detailed information of directors emoluments | The director’s fee, salaries and bonuses, social security and housing fund and other benefits incurred by the Group for the years ended December 31, 2020, 2021 and 2022 are set out as follows: Year ended December 31, 2020: Name Director’s fee Salaries and bonuses Social security and housing fund Other Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Executive Directors: Cho Yong Suk — 9,750 30 2,239 12,019 Gregory Dean Gibb — 8,880 65 2,156 11,101 Ji Guangheng — 10,375 26 297 10,698 Li Renjie — 10,100 — 522 10,622 Non-Executive Zhang Xudong 400 — — — 400 Li Weidong 400 — — — 400 Kwong Che Keung Gordon 224 — — — 224 Ha Jiming 1,957 — — — 1,957 Yang Rusheng 176 — — — 176 Sin Yin Tan — — — — — Jason Bo Yao — — — — — Law Eddie Siu Wah — — — — — Ip So Lan — — — — — Ahmed Ali Al-Hammadi — — — — — Peter Jurdjevic — — — — — 3,157 39,105 121 5,214 47,597 Year ended December 31, 2021: Name Director’s fee Salaries and bonuses Social security and housing fund Other Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Executive Directors: Cho Yong Suk — 14,070 74 2,147 16,291 Gregory Dean Gibb — 8,410 74 1,963 10,447 Ji Guangheng — 12,090 83 523 12,696 Li Renjie — 667 — 175 842 Non-Executive Zhang Xudong 500 — — — 500 Li Weidong 500 — — — 500 Ha Jiming 164 — — — 164 Yang Rusheng 500 — — — 500 Tang Yunwei 458 — — — 458 Li Xianglin 458 — — — 458 Sin Yin Tan — — — — — Jason Bo Yao — — — — — Law Eddie Siu Wah — — — — — Peter Jurdjevic — — — — — Li Rui — — — — — 2,580 35,237 231 4,808 42,856 Year ended December 31, 2022: Name Director’s fee Salaries and bonuses Social security and housing fund Other Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Executive Directors: Cho Yong Suk — 7,750 82 2,242 10,074 Gregory Dean Gibb — 4,580 76 2,433 7,089 Ji Guangheng — 2,673 23 87 2,783 Non-Executive Zhang Xudong 500 — — — 500 Li Weidong 500 — — — 500 Yang Rusheng 500 — — — 500 Tang Yunwei 448 — — — 448 Li Xianglin 500 — — — 500 Li Rui — — — — — Ou Hanjie — — — — — Cai Fangfang — — — — — Fu Xin — — — — — Huang Yuqiang — — — — — 2,448 15,003 181 4,762 22,394 |
Parent company only condensed_2
Parent company only condensed financial information (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Text block [abstract] | |
Summary of Investments Accounted for Using the Equity Method | (a) Investments accounted for using the equity method As of December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Investments in subsidiaries 77,046,809 95,412,806 106,249,382 Investments in associates 489,931 459,496 39,271 77,536,740 95,872,302 106,288,653 |
Summary of Detailed Information about Parent Company Condensed Statements of Comprehensive Income | Condensed Statements of Comprehensive Income Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Investment income 113,793 60,006 38,695 Income from subsidiaries and VIEs 15,149,508 18,035,463 10,683,088 Total income 15,263,301 18,095,469 10,721,783 General and administrative expenses (91,233 ) (113,056 ) (113,983 ) Credit impairment losses (6,314 ) 2,210 6,972 Finance costs (2,901,518 ) (1,380,292 ) (1,753,486 ) Other gains/(losses) - net 89,878 202,562 (161,917 ) Total expenses (2,909,187 ) (1,288,576 ) (2,022,414 ) Income before income tax expenses 12,354,114 16,806,893 8,699,369 Less: Income tax expenses — (2,513 ) — Net profit for the year 12,354,114 16,804,380 8,699,369 Net profit attributable to: Owners of the Company 12,354,114 16,804,380 8,699,369 Other comprehensive income/(loss), net of tax: -Exchange differences on translation of foreign operations 614,399 28,402 (1,581,252 ) Total comprehensive income for the year 12,968,513 16,832,782 7,118,117 Total comprehensive income attributable to: Owners of the Company 12,968,513 16,832,782 7,118,117 |
Summary of Detailed Information about Parent Company Condensed Statements Of Financial Position | Condensed Statements of Financial Position As of December 31, Note 2021 2022 RMB’000 RMB’000 ASSETS Cash at bank 16 1,813,616 1,644,302 Financial assets at fair value through profit or loss 17 383,888 767,636 Financial assets at amortized cost 18 8,846,623 155,602 Accounts and other receivables and contract assets 20 4,641,662 1,627,343 Investments accounted for using the equity method 48(a) 95,872,302 106,288,653 Total assets 111,558,091 110,483,536 LIABILITIES Borrowings 29 319,926 139,054 Accounts and other payables and contract liabilities 31 74,928 3,803,643 Convertible promissory note payable 34 10,669,498 5,164,139 Optionally convertible promissory notes 35 7,405,103 8,142,908 Other liabilities 34,941 43,946 Total liabilities 18,504,396 17,293,690 EQUITY Share capital 37 75 75 Share premium 37 33,365,786 32,073,874 Treasury shares 38 (5,560,104 ) (5,642,769 ) Other reserves 39 9,304,995 2,158,432 Retained earnings 55,942,943 64,600,234 Total equity 93,053,695 93,189,846 Total liabilities and equity 111,558,091 110,483,536 |
Summary of Detailed Information about Parent Company Condensed Statements of Cash Flows | Condensed Statements of Cash Flows Year ended December 31, 2020 2021 2022 RMB’000 RMB’000 RMB’000 Cash flows from operating activities Cash used in operating activities (98,869 ) (105,253 ) 166,134 Net cash generated from/(used in) operating activities (98,869 ) (105,253 ) 166,134 Cash flows from investing activities Capital contribution to consolidated entities (1,898,193 ) (109,635 ) — Payment for advances to consolidated entities (9,456,072 ) (3,689,678 ) (160,000 ) Receipts of repayments of the advances and capital return from consolidated entities 2,374,680 7,249,502 12,450,046 Proceeds and interest from sale of investment assets 1,875 6,522 419,538 Payment for acquisition of investment assets — (383,798 ) (764,885 ) Net cash generated from/(used in) investing activities (8,977,710 ) 3,072,913 11,944,699 Cash flows from financing activities Proceeds from issuance of shares and other equity securities 17,343,739 — — Proceeds from exercise of share-based payment — 43,456 95,911 Proceeds from borrowings — 319,535 134,228 Repayment of borrowings (1,128,036 ) (369,929 ) (374,464 ) Repayment of convertible promissory note payable — — (3,747,386 ) Payment for interest expenses (1,034,617 ) (555,304 ) (621,246 ) Payment for dividend declared — — (7,717,474 ) Payment for repurchase of ordinary shares — (6,438,455 ) — Other financing activities (4,745 ) (1,131 ) — Net cash generated from/(used in) financing activities 15,176,341 (7,001,828 ) (12,230,431 ) Effect of exchange rate changes on cash and cash equivalents (336,426 ) (62,027 ) (49,716 ) Net increase/(decrease) in cash and cash equivalents 5,763,336 (4,096,195 ) (169,314 ) Add: Cash and cash equivalents at the beginning of the year 146,475 5,909,811 1,813,616 Cash and cash equivalents at the end of the year 5,909,811 1,813,616 1,644,302 |
General Information - Additiona
General Information - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
General Information [Abstract] | |
Country of incorporation | Cayman Islands |
Entity incorporation, date of incorporation | Dec. 02, 2014 |
History And Reorganization of T
History And Reorganization of The Group - Summary of Direct and Indirect Interests In The Principal Subsidiaries And Our Principal Consolidated Affiliated Entities (Detail) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Direct Control [member] | Gem Blazing Limited [member] | ||
Disclosure of subsidiaries [line items] | ||
Company Name | Gem Blazing Limited | Gem Blazing Limited |
Country / Place of Incorporation | Cayman | Cayman |
Date Of Incorporation | May 28, 2015 | May 28, 2015 |
Attributable equity interest to the Group | 100% | 100% |
Direct Control [member] | Wincon Hong Kong Investment Company Limited [member] | ||
Disclosure of subsidiaries [line items] | ||
Company Name | Wincon Hong Kong Investment Company Limited | Wincon Hong Kong Investment Company Limited |
Country / Place of Incorporation | Hong Kong | Hong Kong |
Date Of Incorporation | Dec. 29, 2014 | Dec. 29, 2014 |
Attributable equity interest to the Group | 100% | 100% |
Direct Control [member] | Weikun (Shanghai) Technology Service Co., Ltd. ("Weikun Technology") | ||
Disclosure of subsidiaries [line items] | ||
Company Name | Weikun (Shanghai) Technology Service Co., Ltd. (“Weikun Technology”) | Weikun (Shanghai) Technology Service Co., Ltd. (“Weikun Technology”) |
Country / Place of Incorporation | Shanghai | Shanghai |
Date Of Incorporation | Feb. 28, 2015 | Feb. 28, 2015 |
Attributable equity interest to the Group | 100% | 100% |
Direct Control [member] | Jinjiong (Shenzhen) Technology Service Company Ltd. [member] | ||
Disclosure of subsidiaries [line items] | ||
Company Name | Jinjiong (Shenzhen) Technology Service Company Ltd. | Jinjiong (Shenzhen) Technology Service Company Ltd. |
Country / Place of Incorporation | Shenzhen | Shenzhen |
Date Of Incorporation | Oct. 16, 2017 | Oct. 16, 2017 |
Attributable equity interest to the Group | 100% | 100% |
Direct Control [member] | Lufax Holding (Shenzhen) Technology Service Co., Ltd. [member] | ||
Disclosure of subsidiaries [line items] | ||
Company Name | Lufax Holding (Shenzhen) Technology Service Co., Ltd. | Lufax Holding (Shenzhen) Technology Service Co., Ltd. |
Country / Place of Incorporation | Shenzhen | Shenzhen |
Date Of Incorporation | Sep. 25, 2018 | Sep. 25, 2018 |
Attributable equity interest to the Group | 100% | 100% |
Direct Control [member] | Gem Alliance Limited [member] | ||
Disclosure of subsidiaries [line items] | ||
Company Name | Gem Alliance Limited | Gem Alliance Limited |
Country / Place of Incorporation | Cayman | Cayman |
Date Of Incorporation | May 26, 2015 | May 26, 2015 |
Attributable equity interest to the Group | 100% | 100% |
Direct Control [member] | Harmonious Splendor Limited [member] | ||
Disclosure of subsidiaries [line items] | ||
Company Name | Harmonious Splendor Limited | Harmonious Splendor Limited |
Country / Place of Incorporation | Hong Kong | Hong Kong |
Date Of Incorporation | Jun. 01, 2015 | Jun. 01, 2015 |
Attributable equity interest to the Group | 100% | 100% |
Direct Control [member] | Ping An Puhui Financing Guarantee Co., Ltd. [member] | ||
Disclosure of subsidiaries [line items] | ||
Company Name | Ping An Puhui Financing Guarantee Co., Ltd. | Ping An Puhui Financing Guarantee Co., Ltd (“Puhui Guarantee”) |
Country / Place of Incorporation | Nanjing | Nanjing |
Date Of Incorporation | Dec. 25, 2007 | Dec. 25, 2007 |
Attributable equity interest to the Group | 100% | 100% |
Direct Control [member] | Ping An Puhui Enterprises Management Co., Ltd. [member] | ||
Disclosure of subsidiaries [line items] | ||
Company Name | Ping An Puhui Enterprises Management Co., Ltd. | Ping An Puhui Enterprises Management Co., Ltd. |
Country / Place of Incorporation | Shenzhen | Shenzhen |
Date Of Incorporation | Jul. 07, 2015 | Jul. 07, 2015 |
Attributable equity interest to the Group | 100% | 100% |
Direct Control [member] | Chongqing Jinan Microloan Co., Ltd. [Member] | ||
Disclosure of subsidiaries [line items] | ||
Company Name | Chongqing Jinan Microloan Co., Ltd. | |
Country / Place of Incorporation | Chongqing | |
Date Of Incorporation | Dec. 25, 2014 | |
Attributable equity interest to the Group | 100% | |
Direct Control [member] | Ping An Puhui Investment & Consulting Co., Ltd. [member] | ||
Disclosure of subsidiaries [line items] | ||
Company Name | Ping An Puhui Investment & Consulting Co., Ltd. | Ping An Puhui Investment & Consulting Co., Ltd. |
Country / Place of Incorporation | Shenzhen | Shenzhen |
Date Of Incorporation | Sep. 05, 2005 | Sep. 05, 2005 |
Attributable equity interest to the Group | 100% | 100% |
Direct Control [member] | Shenzhen Ping An Puhui Microloan Co., Ltd. [member] | ||
Disclosure of subsidiaries [line items] | ||
Company Name | Shenzhen Ping An Puhui Microloan Co., Ltd. | |
Country / Place of Incorporation | Shenzhen | |
Date Of Incorporation | Sep. 19, 2010 | |
Attributable equity interest to the Group | 100% | |
Direct Control [member] | Ping An Puhui Information Services Co., Ltd. [member] | ||
Disclosure of subsidiaries [line items] | ||
Company Name | Ping An Puhui Information Services Co., Ltd. | Ping An Puhui Information Services Co., Ltd. |
Country / Place of Incorporation | Harbin | Harbin |
Date Of Incorporation | Jul. 18, 2016 | Jul. 18, 2016 |
Attributable equity interest to the Group | 100% | 100% |
Direct Control [member] | Ping An Consumer Finance Co., Ltd. [member] | ||
Disclosure of subsidiaries [line items] | ||
Company Name | Ping An Consumer Finance Co., Ltd. | Ping An Consumer Finance Co., Ltd. |
Country / Place of Incorporation | Shanghai | Shanghai |
Date Of Incorporation | Apr. 09, 2020 | Apr. 09, 2020 |
Attributable equity interest to the Group | 70% | 70% |
Controlled Through Contractual Arrangements [member] | Shanghai Xiongguo Enterprise Management Co., Ltd. ("Xiongguo") [member] | ||
Disclosure of subsidiaries [line items] | ||
Company Name | Shanghai Xiongguo Enterprise Management Co., Ltd. (“Xiongguo”) | Shanghai Xiongguo Enterprise Management Co., Ltd. (“Xiongguo”) |
Country / Place of Incorporation | Shanghai | Shanghai |
Date Of Incorporation | Dec. 10, 2014 | Dec. 10, 2014 |
Attributable equity interest to the Group | 100% | 100% |
Controlled Through Contractual Arrangements [member] | Shanghai Lufax Information Technology Co., Ltd. [member] | ||
Disclosure of subsidiaries [line items] | ||
Company Name | Shanghai Lufax Information Technology Co., Ltd. | Shanghai Lufax Information Technology Co., Ltd. |
Country / Place of Incorporation | Shanghai | Shanghai |
Date Of Incorporation | Sep. 29, 2011 | Sep. 29, 2011 |
Attributable equity interest to the Group | 100% | 100% |
Controlled Through Contractual Arrangements [member] | Shenzhen Lufax Holding Enterprise Management Co., Ltd. [member] | ||
Disclosure of subsidiaries [line items] | ||
Company Name | Shenzhen Lufax Holding Enterprise Management Co., Ltd. | Shenzhen Lufax Holding Enterprise Management Co., Ltd. |
Country / Place of Incorporation | Shenzhen | Shenzhen |
Date Of Incorporation | May 23, 2018 | May 23, 2018 |
Attributable equity interest to the Group | 100% | 100% |
History And Reorganization of_2
History And Reorganization of The Group - Summary of The Major Consolidated Structured Entities Other Than Consolidated Affiliated Entities Of The Group (Detail) ¥ in Thousands | Dec. 31, 2022 CNY (¥) |
Trust A [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Amount of investment by the Group | ¥ 4,020,000 |
Remaining unpaid principal of structured entities | 4,020,000 |
Trust B [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Amount of investment by the Group | 2,490,000 |
Remaining unpaid principal of structured entities | 2,490,000 |
Trust C [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Amount of investment by the Group | 2,430,000 |
Remaining unpaid principal of structured entities | 2,430,000 |
Trust D [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Amount of investment by the Group | 1,960,000 |
Remaining unpaid principal of structured entities | 1,960,000 |
Trust E [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Amount of investment by the Group | 1,600,000 |
Remaining unpaid principal of structured entities | 1,600,000 |
Trust F [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Amount of investment by the Group | 1,501,000 |
Remaining unpaid principal of structured entities | 1,501,000 |
Trust G [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Amount of investment by the Group | 1,110,000 |
Remaining unpaid principal of structured entities | 1,110,000 |
Trust H [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Amount of investment by the Group | 18,000 |
Remaining unpaid principal of structured entities | 1,105,645 |
Trust I [member] | |
Disclosure of information about consolidated structured entities [line items] | |
Amount of investment by the Group | 1,100,000 |
Remaining unpaid principal of structured entities | 1,100,000 |
Trust J [Member] | |
Disclosure of information about consolidated structured entities [line items] | |
Amount of investment by the Group | 18,000 |
Remaining unpaid principal of structured entities | ¥ 1,049,772 |
History And Reorganization of_3
History And Reorganization of The Group - Summary of Balance Sheet Details Of Consolidated Affiliated Entities And Their Subsidiaries (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Balance Sheet Details Of Consolidated Affiliated Entities And Their Subsidiaries [Line Items] | ||
Total assets | ¥ 349,262,807 | ¥ 360,433,486 |
Total liabilities | 254,476,132 | 265,874,283 |
Consolidated affiliated entities and subsidiaries [member] | ||
Disclosure Of Balance Sheet Details Of Consolidated Affiliated Entities And Their Subsidiaries [Line Items] | ||
Assets arising from inter-company transactions | 10,328 | 3,911 |
Amount due from Group companies | 2,412,424 | 535,200 |
Total assets | 14,147,082 | 21,721,834 |
Amount due to Group companies | 14,625,366 | 19,827,134 |
Total liabilities | ¥ 16,951,253 | ¥ 24,101,238 |
History And Reorganization of_4
History And Reorganization of The Group - Summary of Cash Flow Summary And Income Summary of Consolidated Affiliated Entities And Subsidiaries (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Disclosure Details Of Cash Flow Summary And Income Summary Of Consolidated Affiliated Entities And Subsidiaries [Line Items] | ||||
Total income | ¥ 1,267,815 | ¥ 820,843 | ¥ 364,385 | |
Total expense | 45,102,457 | 38,434,729 | 34,136,219 | |
Net loss | 8,775,039 | 16,709,060 | 12,276,240 | |
Net cash generated from/(used in) operating activities | 4,455,301 | 4,987,472 | 7,121,282 | |
Proceeds from sale of investment assets | 99,031,093 | 132,430,620 | 151,232,710 | |
Payment for acquisition of investment assets | 97,732,903 | 128,591,697 | 166,531,308 | |
Net cash generated from/(used in) investing activities | 8,447,678 | 313,822 | (15,003,750) | |
Proceeds from borrowings | 9,046,338 | 7,262,435 | 10,589,599 | |
Net cash generated from/(used in) financing activities | (9,918,803) | (2,448,028) | 24,873,923 | |
Effect of exchange rate changes on cash and cash equivalents | 57,025 | (142,607) | (517,865) | |
Net increase/(decrease) in cash | 3,041,201 | 2,710,659 | 16,473,590 | |
Add: Cash and cash equivalents at the beginning of the year | 26,496,310 | 23,785,651 | 7,312,061 | |
Cash and cash equivalents at the end of the year | 29,537,511 | 26,496,310 | 23,785,651 | |
Consolidated affiliated entities and subsidiaries [member] | ||||
Disclosure Details Of Cash Flow Summary And Income Summary Of Consolidated Affiliated Entities And Subsidiaries [Line Items] | ||||
Inter-company revenues | 156,029 | 5,249 | (70,159) | |
Total income | 966,196 | 1,566,847 | 1,571,968 | |
Inter-company expenses | 540,809 | 1,422,021 | 1,012,435 | |
Total expense | (1,359,876) | (2,213,789) | (1,714,084) | |
Net loss | (393,680) | (646,942) | (142,116) | |
Inter-company cash flow | (625,594) | 1,369,172 | (1,151,110) | |
Reclassification | [1] | 1,487,448 | 327,497 | |
Other operating activities | (916,309) | (653,230) | 1,835,668 | |
Net cash generated from/(used in) operating activities | (54,455) | 1,043,439 | 684,558 | |
Inter-company cash flow | 564,266 | (735,327) | 501,185 | |
Reclassification | (1,487,448) | (327,497) | ||
Payment for advances to consolidated entities | (500,000) | (240,000) | ||
Receipts of repayment of the advances from consolidated entities | 158 | 1,064,669 | 4,813,732 | |
Proceeds from sale of investment assets | 9,229,963 | 20,633,784 | 16,449,825 | |
Payment for acquisition of investment assets | (5,675,189) | (9,440,542) | (28,402,132) | |
Other investing activities | 5,543,944 | (4,826,844) | (697,316) | |
Net cash generated from/(used in) investing activities | 8,175,694 | 5,868,243 | (7,574,706) | |
Repayment for advances to consolidated entities | (10,755,583) | (17,114,012) | (9,031,546) | |
Receipts of advances from consolidated entities | 4,617,000 | 9,774,001 | 16,096,040 | |
Proceeds from borrowings | 572,000 | 531,162 | ||
Repayment of interest expenses and borrowings | (436,274) | (664,880) | (275,959) | |
Other financing activities | (1,000) | (474) | ||
Net cash generated from/(used in) financing activities | (6,575,857) | (7,433,365) | 7,319,697 | |
Effect of exchange rate changes on cash and cash equivalents | 21 | (15) | (14) | |
Net increase/(decrease) in cash | 1,545,403 | (521,698) | 429,535 | |
Add: Cash and cash equivalents at the beginning of the year | 904,360 | 1,426,058 | 996,523 | |
Cash and cash equivalents at the end of the year | ¥ 2,449,763 | ¥ 904,360 | ¥ 1,426,058 | |
[1]This represents the reclassification of certain cash flows that were considered as investing activities in the financial statements of consolidated entities and consolidated affiliated entities’ subsidiaries and as operating activities in the consolidated financial statements of the Group. |
History And Organization of T_3
History And Organization of The Group - Additional Information (Detail) $ / shares in Units, ¥ in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||
Oct. 30, 2020 USD ($) $ / shares shares | Oct. 30, 2020 CNY (¥) shares | Sep. 30, 2020 USD ($) shares | Sep. 30, 2020 CNY (¥) shares | Dec. 31, 2021 USD ($) shares | Dec. 31, 2022 USD ($) shares | Dec. 31, 2022 CNY (¥) shares | Oct. 13, 2022 shares | Apr. 08, 2022 shares | Dec. 31, 2020 shares | |
History and reorganisation of the group [line items] | ||||||||||
Common stock shares outstanding | 1,145,926,797 | 1,144,226,418 | 1,231,150,560 | |||||||
Promissory notes issued rate of interest | 125% | 125% | ||||||||
Common stock shares issued | 1,231,150,560 | |||||||||
Stock repurchase program, Number of shares authorized, Value | $ | $ 1,000 | |||||||||
Stock repurchase program, Number of shares repurchased | 110,000,000 | 110,000,000 | ||||||||
Stock repurchase program, Number of shares repurchased, Value | $ 877 | ¥ 5,643 | ||||||||
Tun Kung Company Limited [member] | ||||||||||
History and reorganisation of the group [line items] | ||||||||||
Common stock shares issued | 35,644,803 | |||||||||
Increase decrease through treasury share transactions shares | 35,644,803 | |||||||||
Share pledge agreement [member] | ||||||||||
History and reorganisation of the group [line items] | ||||||||||
Percentage of equity interest pledged | 100% | 100% | 100% | 100% | ||||||
OPCO [member] | ||||||||||
History and reorganisation of the group [line items] | ||||||||||
Percentage of legal beneficial interest owned by each onshore shareholder | 100% | 100% | 100% | 100% | ||||||
Promissory notes and automatically convertible promissory notes [member] | ||||||||||
History and reorganisation of the group [line items] | ||||||||||
Increase (decrease) in equity shares outstanding due to conversion of convertible instruments | 7,566,665 | 7,566,665 | ||||||||
Initial public offer [member] | ||||||||||
History and reorganisation of the group [line items] | ||||||||||
Sale of stock issue price per share | $ / shares | $ 27 | |||||||||
Proceeds from issue of common stock | $ 2,581 | ¥ 17,305 | ||||||||
Over allotment [member] | ||||||||||
History and reorganisation of the group [line items] | ||||||||||
Proceeds from issue of common stock | $ | $ 314 | |||||||||
Class C ordinary share [member] | Promissory notes and automatically convertible promissory notes [member] | ||||||||||
History and reorganisation of the group [line items] | ||||||||||
Promissory notes convertible into equivalent number of shares | 38,493,660 | 38,493,660 | ||||||||
Promissory notes issued rate of interest | 6% | 6% | ||||||||
Gain loss due to change in the fair value of promissory notes | $ (195) | ¥ (1,326) | ||||||||
American depositary shares [member] | ||||||||||
History and reorganisation of the group [line items] | ||||||||||
Sale of stock issue price per share | $ / shares | $ 13.5 | |||||||||
American depositary shares [member] | Initial public offer [member] | ||||||||||
History and reorganisation of the group [line items] | ||||||||||
Stock shares issued during the period shares | 199,155,128 | 199,155,128 | ||||||||
Sale of stock issue price per share | $ / shares | $ 13.5 | |||||||||
American depositary shares [member] | Over allotment [member] | ||||||||||
History and reorganisation of the group [line items] | ||||||||||
Stock shares issued during the period shares | 24,155,128 | 24,155,128 | ||||||||
Class B and class C ordinary shares convertible into class A ordinary shares [member] | ||||||||||
History and reorganisation of the group [line items] | ||||||||||
Common stock shares converted from one class to another | 136,859,460 | |||||||||
Ordinary shares [member] | ||||||||||
History and reorganisation of the group [line items] | ||||||||||
Stock shares issued during the period shares | 99,577,564 | 99,577,564 | ||||||||
Stock repurchase program, Number of shares repurchased | 55,000,000 | 55,000,000 | ||||||||
Ordinary shares [member] | Initial public offer [member] | ||||||||||
History and reorganisation of the group [line items] | ||||||||||
Stock shares issued during the period shares | 87,500,000 | 87,500,000 | ||||||||
Ordinary shares [member] | Over allotment [member] | ||||||||||
History and reorganisation of the group [line items] | ||||||||||
Stock shares issued during the period shares | 12,077,564 | 12,077,564 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) - CNY (¥) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Accounting policies [line items] | |||
Financial asset measured at FVOCI | ¥ 0 | ¥ 0 | ¥ 0 |
Financial liabilities measured at FVPL | ¥ 0 | ¥ 0 | ¥ 0 |
Significant influence [member] | |||
Accounting policies [line items] | |||
Proportion of ownership interest in associate | 20% | ||
Bottom of range [member] | |||
Accounting policies [line items] | |||
Proportion of ownership interest in associate | 20% | ||
Lessee lease term | 1 year | ||
Top of range [member] | |||
Accounting policies [line items] | |||
Proportion of ownership interest in associate | 50% | ||
Lessee lease term | 6 years |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Summary of Expected Useful Lives of Intangible Assets with a Limited Useful Life (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
Trademarks and Licenses [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Expected useful life | 6 years |
Bottom of range [member] | Computer software [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Expected useful life | 3 years |
Top of range [member] | Computer software [member] | |
Disclosure of detailed information about intangible assets [line items] | |
Expected useful life | 10 years |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Summary of the Estimated Useful Lives, Estimated Residual Value Rate and Annual Depreciation Rate of Property, Plant and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2022 | |
Buildings [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Expected useful life | 30 years |
Estimated residual value rate | 5% |
Annual depreciation rate | 3% |
Leasehold improvements [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated residual value rate | 0% |
Description of useful life, property, plant and equipment | shorter of expected useful life or the lease term |
Bottom of range [member] | Office furniture and equipment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Expected useful life | 3 years |
Estimated residual value rate | 0% |
Annual depreciation rate | 19% |
Bottom of range [member] | Computer and electronic equipment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Expected useful life | 2 years |
Estimated residual value rate | 0% |
Annual depreciation rate | 19% |
Bottom of range [member] | Motor vehicles [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Expected useful life | 3 years |
Estimated residual value rate | 5% |
Annual depreciation rate | 18% |
Bottom of range [member] | Leasehold improvements [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Annual depreciation rate | 20% |
Top of range [member] | Office furniture and equipment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Expected useful life | 5 years |
Estimated residual value rate | 5% |
Annual depreciation rate | 33% |
Top of range [member] | Computer and electronic equipment [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Expected useful life | 5 years |
Estimated residual value rate | 5% |
Annual depreciation rate | 50% |
Top of range [member] | Motor vehicles [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Expected useful life | 5 years |
Estimated residual value rate | 10% |
Annual depreciation rate | 32% |
Top of range [member] | Leasehold improvements [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Annual depreciation rate | 33% |
Financial Instruments And Ris_3
Financial Instruments And Risks - Summary Of Illustrates The Impact of An Appreciation Or Depreciation (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Financial Instruments And Risks [Abstract] | ||
5% appreciation of RMB | ¥ (124,798) | ¥ 699,049 |
5% depreciation of RMB | ¥ 124,798 | ¥ (699,049) |
Financial Instruments And Ris_4
Financial Instruments And Risks - Summary of Out The Group's Financial Assets And Financial Liabilities Exposed To Interest Rate Risk (Detail) ¥ in Thousands, $ in Millions | Dec. 31, 2022 CNY (¥) | Jun. 14, 2022 CNY (¥) | Jun. 14, 2022 USD ($) | Jun. 07, 2022 CNY (¥) | Jun. 07, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | Dec. 31, 2019 CNY (¥) |
ASSETS | ||||||||
Cash at bank | ¥ 43,882,127 | ¥ 34,743,188 | ¥ 24,158,568 | |||||
Restricted cash | 26,508,631 | 30,453,539 | ||||||
Financial assets at fair value through profit or loss | 29,089,447 | 31,023,211 | ||||||
Financial assets at amortized cost | 4,716,448 | 3,784,613 | ||||||
Financial assets purchased under reverse repurchase agreements | 0 | 5,527,177 | ||||||
Accounts and other receivables and contract assets | 15,758,135 | 22,344,773 | ||||||
Loans to customers | 211,446,645 | 214,972,110 | ||||||
LIABILITIES | ||||||||
Payable to platform investors | 1,569,367 | 2,747,891 | ||||||
Borrowings | 36,915,513 | 25,927,417 | ||||||
Bonds issued | 2,143,348 | ¥ 2,013,000 | $ 300 | ¥ 2,013,000 | $ 300 | 0 | ||
Accounts and other payables and contract liabilities | 9,130,939 | 8,814,255 | ||||||
Payable to investors of consolidated structured entities | 177,147,726 | 195,446,140 | ||||||
Financing guarantee liabilities | 5,763,369 | 2,697,109 | ||||||
Lease liabilities | 748,807 | 794,544 | ||||||
Convertible promissory note payable | 5,164,139 | 10,669,498 | ||||||
Convertible redeemable preferred shares | 8,142,908 | 7,405,103 | ||||||
Total financial liabilities | 246,726,116 | 254,501,957 | ||||||
Total interest rate sensitivity gap | 84,675,317 | 88,346,654 | ||||||
Gross carrying amount [member] | ||||||||
ASSETS | ||||||||
Cash at bank | 43,882,127 | 34,743,188 | ||||||
Restricted cash | 26,508,631 | 30,453,539 | ||||||
Financial assets at fair value through profit or loss | 29,089,447 | 31,023,211 | ||||||
Financial assets at amortized cost | 6,594,786 | 5,123,589 | ¥ 7,735,834 | ¥ 10,010,959 | ||||
Financial assets purchased under reverse repurchase agreements | 5,527,177 | |||||||
Accounts and other receivables and contract assets | 15,758,135 | 22,344,773 | ||||||
Loans to customers | 211,446,645 | 214,972,110 | ||||||
Total financial assets | 331,401,433 | 342,848,611 | ||||||
Not later than three months [member] | ||||||||
ASSETS | ||||||||
Cash at bank | 33,218,805 | 29,263,128 | ||||||
Restricted cash | 24,333,782 | 27,792,006 | ||||||
Financial assets at fair value through profit or loss | 7,128,410 | 12,544,935 | ||||||
Financial assets at amortized cost | 2,502,673 | 1,168,502 | ||||||
Financial assets purchased under reverse repurchase agreements | 5,527,177 | |||||||
Loans to customers | 51,150,197 | 51,563,466 | ||||||
Total financial assets | 118,333,867 | 127,859,214 | ||||||
LIABILITIES | ||||||||
Borrowings | 9,086,732 | 13,074,069 | ||||||
Accounts and other payables and contract liabilities | 3,745,929 | |||||||
Payable to investors of consolidated structured entities | 42,664,737 | 46,086,474 | ||||||
Lease liabilities | 126,034 | 141,719 | ||||||
Total financial liabilities | 55,623,432 | 59,302,262 | ||||||
Nominal amount of interest rate swap | (8,984,334) | (8,224,653) | ||||||
Total interest rate sensitivity gap | 71,694,769 | 76,781,605 | ||||||
Later than three months and not later than one year [member] | ||||||||
ASSETS | ||||||||
Cash at bank | 42,142 | 70,579 | ||||||
Restricted cash | 1,544,978 | 554,499 | ||||||
Financial assets at fair value through profit or loss | 1,131,041 | 3,459,334 | ||||||
Financial assets at amortized cost | 647,026 | 500,740 | ||||||
Loans to customers | 95,812,445 | 98,295,888 | ||||||
Total financial assets | 99,177,632 | 102,881,040 | ||||||
LIABILITIES | ||||||||
Borrowings | 27,828,781 | 12,853,348 | ||||||
Bonds issued | 2,143,348 | |||||||
Payable to investors of consolidated structured entities | 86,300,977 | 95,848,045 | ||||||
Lease liabilities | 294,856 | 322,317 | ||||||
Convertible redeemable preferred shares | 8,142,908 | |||||||
Total financial liabilities | 124,710,870 | 109,023,710 | ||||||
Nominal amount of interest rate swap | 8,984,334 | |||||||
Total interest rate sensitivity gap | (34,517,572) | (6,142,670) | ||||||
Later than one year and not later than two years [member] | ||||||||
ASSETS | ||||||||
Cash at bank | 1,602,690 | 363,691 | ||||||
Restricted cash | 482,037 | 1,786,219 | ||||||
Financial assets at fair value through profit or loss | 313,221 | 919,458 | ||||||
Financial assets at amortized cost | 112,128 | 920,815 | ||||||
Loans to customers | 49,552,823 | 51,345,667 | ||||||
Total financial assets | 52,062,899 | 55,335,850 | ||||||
LIABILITIES | ||||||||
Payable to investors of consolidated structured entities | 44,005,269 | 48,048,309 | ||||||
Lease liabilities | 253,475 | 238,250 | ||||||
Convertible promissory note payable | 0 | 10,669,498 | ||||||
Convertible redeemable preferred shares | 0 | 7,405,103 | ||||||
Total financial liabilities | 44,258,744 | 66,361,160 | ||||||
Nominal amount of interest rate swap | 0 | 8,224,653 | ||||||
Total interest rate sensitivity gap | 7,804,155 | (19,249,963) | ||||||
Later than two years and not later than three years [member] | ||||||||
ASSETS | ||||||||
Cash at bank | 3,490,181 | 1,538,551 | ||||||
Restricted cash | 147,478 | 306,371 | ||||||
Financial assets at fair value through profit or loss | 0 | 262,969 | ||||||
Financial assets at amortized cost | 856,808 | 107,676 | ||||||
Loans to customers | 9,616,373 | 11,182,096 | ||||||
Total financial assets | 14,110,840 | 13,397,663 | ||||||
LIABILITIES | ||||||||
Payable to investors of consolidated structured entities | 4,111,964 | 5,463,312 | ||||||
Lease liabilities | 67,629 | 83,166 | ||||||
Total financial liabilities | 4,179,593 | 5,546,478 | ||||||
Total interest rate sensitivity gap | 9,931,247 | 7,851,185 | ||||||
Later than three years [member] | ||||||||
ASSETS | ||||||||
Cash at bank | 5,528,309 | 3,507,239 | ||||||
Restricted cash | 356 | 14,444 | ||||||
Loans to customers | 158,248 | 1,002 | ||||||
Total financial assets | 5,686,913 | 3,522,685 | ||||||
LIABILITIES | ||||||||
Payable to investors of consolidated structured entities | 64,779 | |||||||
Lease liabilities | 6,813 | 9,092 | ||||||
Convertible promissory note payable | 5,164,139 | |||||||
Total financial liabilities | 5,235,731 | 9,092 | ||||||
Total interest rate sensitivity gap | 451,182 | 3,513,593 | ||||||
Overdue [Member] | ||||||||
ASSETS | ||||||||
Financial assets at fair value through profit or loss | 2,454,227 | 1,164,095 | ||||||
Financial assets at amortized cost | 597,813 | 1,086,880 | ||||||
Loans to customers | 5,156,559 | 2,583,991 | ||||||
Total financial assets | 8,208,599 | 4,834,966 | ||||||
LIABILITIES | ||||||||
Total interest rate sensitivity gap | 8,208,599 | 4,834,966 | ||||||
No Interest [Member] | ||||||||
ASSETS | ||||||||
Financial assets at fair value through profit or loss | 18,062,548 | 12,672,420 | ||||||
Accounts and other receivables and contract assets | 15,758,135 | 22,344,773 | ||||||
Total financial assets | 33,820,683 | 35,017,193 | ||||||
LIABILITIES | ||||||||
Payable to platform investors | 1,569,367 | 2,747,891 | ||||||
Accounts and other payables and contract liabilities | 5,385,010 | 8,814,255 | ||||||
Financing guarantee liabilities | 5,763,369 | 2,697,109 | ||||||
Total financial liabilities | 12,717,746 | 14,259,255 | ||||||
Total interest rate sensitivity gap | ¥ 21,102,937 | ¥ 20,757,938 |
Financial Instruments And Ris_5
Financial Instruments And Risks - Summary of Impact To Profit Before Tax On The Structure of Interest-Bearing Assets And Liabilities (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Financial Instruments And Risks [Abstract] | ||
-100 basis points | ¥ (497,888) | ¥ (648,804) |
+100 basis points | ¥ 497,888 | ¥ 648,804 |
Financial Instruments And Ris_6
Financial Instruments And Risks - Summary of Credit Exposure of The Group (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of credit risk exposure [line items] | |||
Cash at bank | ¥ 43,882,127 | ¥ 34,743,188 | ¥ 24,158,568 |
Restricted cash | 26,508,631 | 30,453,539 | |
Financial assets at fair value through profit or loss | 29,089,447 | 31,023,211 | |
Financial assets at amortized cost | 4,716,448 | 3,784,613 | |
Financial assets purchased under reverse repurchase agreements | 0 | 5,527,177 | |
Accounts and other receivables and contract assets | 15,758,135 | 22,344,773 | |
Loans to customers | 211,446,645 | 214,972,110 | |
On Balance Sheet Exposure [Member] | |||
Disclosure of credit risk exposure [line items] | |||
Cash at bank | 43,882,127 | 34,743,188 | |
Restricted cash | 26,508,631 | 30,453,539 | |
Financial assets at fair value through profit or loss | 29,089,447 | 31,023,211 | |
Financial assets at amortized cost | 4,716,448 | 3,784,613 | |
Financial assets purchased under reverse repurchase agreements | 0 | 5,527,177 | |
Accounts and other receivables and contract assets | 15,758,135 | 22,344,773 | |
Loans to customers | 211,446,645 | 214,972,110 | |
Total financial assets | 331,401,433 | 342,848,611 | |
Off Balance Sheet Exposure [Member] | |||
Disclosure of credit risk exposure [line items] | |||
Financing guarantee contracts | ¥ 68,502,938 | ¥ 64,731,369 |
Financial Instruments And Ris_7
Financial Instruments And Risks - Summary of Changes of ECL Impairment Provision On Loans To Customers And Financing Guarantee Liabilities Related To ECL Assuming The Financial Assets (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Macroeconomic Assumptions For Calculating Expected Credit Losses [Line Items] | ||
Difference-amount | ¥ (2,346,875) | ¥ (553,099) |
Difference-ratio | (18.00%) | (10.00%) |
Assumption Of Reclassification Of Financial Instruments From Stage Two To Stage One [Member] | ||
Disclosure Of Macroeconomic Assumptions For Calculating Expected Credit Losses [Line Items] | ||
Total ECL and financing guarantee liabilities | ¥ 10,479,472 | ¥ 4,897,881 |
Recognised In The Balance Sheet [Member] | ||
Disclosure Of Macroeconomic Assumptions For Calculating Expected Credit Losses [Line Items] | ||
Total ECL and financing guarantee liabilities | ¥ 12,826,347 | ¥ 5,450,980 |
Financial Instruments And Ris_8
Financial Instruments And Risks - Summary of Macroeconomic Assumptions Used To Estimate Expected Credit Losses (Detail) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Bottom of range [member] | ||
Disclosure Of Macroeconomic Assumptions For Calculating Expected Credit Losses [Line Items] | ||
Percentage Increase Decrease In Gross Domestic Product | 3.80% | 5% |
Percentage Increase Decrease In Consumer Price Index | 2% | 2.30% |
Percentage Increase Decrease In Money Supply Measure | 7.30% | 8.10% |
Top of range [member] | ||
Disclosure Of Macroeconomic Assumptions For Calculating Expected Credit Losses [Line Items] | ||
Percentage Increase Decrease In Gross Domestic Product | 5.50% | 6.20% |
Percentage Increase Decrease In Consumer Price Index | 2.40% | 2.60% |
Percentage Increase Decrease In Money Supply Measure | 8.60% | 9.10% |
Financial Instruments And Ris_9
Financial Instruments And Risks - Summary of Credit Risk Exposure Of The Financial Instruments Under The Scope of Expected Credit Loss (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Details Of Maximum Credit Risk Exposure Before Collateral Received [Line Items] | ||
Maximum exposure to credit risk of loans or receivables | ¥ 216,163,093 | ¥ 218,756,723 |
Stage One [Member] | ||
Disclosure Details Of Maximum Credit Risk Exposure Before Collateral Received [Line Items] | ||
Maximum exposure to credit risk of loans or receivables | 212,727,811 | 216,363,013 |
Stage Two [Member] | ||
Disclosure Details Of Maximum Credit Risk Exposure Before Collateral Received [Line Items] | ||
Maximum exposure to credit risk of loans or receivables | 2,763,586 | 1,263,965 |
Stage Three [Member] | ||
Disclosure Details Of Maximum Credit Risk Exposure Before Collateral Received [Line Items] | ||
Maximum exposure to credit risk of loans or receivables | 355,414 | 627,723 |
Purchased or originated creditimpaired financial assets [Member] | ||
Disclosure Details Of Maximum Credit Risk Exposure Before Collateral Received [Line Items] | ||
Maximum exposure to credit risk of loans or receivables | 316,282 | 502,022 |
On Balance Sheet Exposure [Member] | Financial assets at amortised cost, class [member] | ||
Disclosure Details Of Maximum Credit Risk Exposure Before Collateral Received [Line Items] | ||
Maximum exposure to credit risk of loans or receivables | 4,716,448 | 3,784,613 |
On Balance Sheet Exposure [Member] | Financial assets at amortised cost, class [member] | Stage One [Member] | ||
Disclosure Details Of Maximum Credit Risk Exposure Before Collateral Received [Line Items] | ||
Maximum exposure to credit risk of loans or receivables | 4,118,635 | 2,697,852 |
On Balance Sheet Exposure [Member] | Financial assets at amortised cost, class [member] | Stage Three [Member] | ||
Disclosure Details Of Maximum Credit Risk Exposure Before Collateral Received [Line Items] | ||
Maximum exposure to credit risk of loans or receivables | 281,531 | 584,739 |
On Balance Sheet Exposure [Member] | Financial assets at amortised cost, class [member] | Purchased or originated creditimpaired financial assets [Member] | ||
Disclosure Details Of Maximum Credit Risk Exposure Before Collateral Received [Line Items] | ||
Maximum exposure to credit risk of loans or receivables | 316,282 | 502,022 |
On Balance Sheet Exposure [Member] | Loans to consumers [member] | ||
Disclosure Details Of Maximum Credit Risk Exposure Before Collateral Received [Line Items] | ||
Maximum exposure to credit risk of loans or receivables | 211,446,645 | 214,972,110 |
On Balance Sheet Exposure [Member] | Loans to consumers [member] | Stage One [Member] | ||
Disclosure Details Of Maximum Credit Risk Exposure Before Collateral Received [Line Items] | ||
Maximum exposure to credit risk of loans or receivables | 208,609,176 | 213,665,161 |
On Balance Sheet Exposure [Member] | Loans to consumers [member] | Stage Two [Member] | ||
Disclosure Details Of Maximum Credit Risk Exposure Before Collateral Received [Line Items] | ||
Maximum exposure to credit risk of loans or receivables | 2,763,586 | 1,263,965 |
On Balance Sheet Exposure [Member] | Loans to consumers [member] | Stage Three [Member] | ||
Disclosure Details Of Maximum Credit Risk Exposure Before Collateral Received [Line Items] | ||
Maximum exposure to credit risk of loans or receivables | 73,883 | 42,984 |
Off Balance Sheet Exposure [Member] | ||
Disclosure Details Of Maximum Credit Risk Exposure Before Collateral Received [Line Items] | ||
Financing guarantee contracts | 68,502,938 | 64,731,369 |
Off Balance Sheet Exposure [Member] | Financial guarantee contracts [member] | ||
Disclosure Details Of Maximum Credit Risk Exposure Before Collateral Received [Line Items] | ||
Financing guarantee contracts | 68,502,938 | 64,731,369 |
Off Balance Sheet Exposure [Member] | Financial guarantee contracts [member] | Stage One [Member] | ||
Disclosure Details Of Maximum Credit Risk Exposure Before Collateral Received [Line Items] | ||
Financing guarantee contracts | 67,011,692 | 64,416,918 |
Off Balance Sheet Exposure [Member] | Financial guarantee contracts [member] | Stage Two [Member] | ||
Disclosure Details Of Maximum Credit Risk Exposure Before Collateral Received [Line Items] | ||
Financing guarantee contracts | ¥ 1,491,246 | ¥ 314,451 |
Financial Instruments And Ri_10
Financial Instruments And Risks- Summary of Liquidity Risk (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | ¥ 318,790,446 | ¥ 327,529,659 |
Payable to platform investors [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 1,569,367 | 2,747,891 |
Borrowings [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 37,506,884 | 26,346,459 |
Bond payable [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 2,209,274 | |
Accounts and other payables and contract liabilities [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 9,130,939 | 8,814,255 |
Payable to investors of consolidated structured entities [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 183,521,985 | 203,200,913 |
Financing guarantee liabilities [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 68,502,938 | 64,731,369 |
Lease liabilities [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 784,835 | 827,776 |
Convertible Promissory Note Payable [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 7,018,086 | 12,594,646 |
Optionally Convertible Promissory Notes [Member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 8,546,138 | 8,266,350 |
Repayable on demand [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 75,504,666 | 76,339,143 |
Repayable on demand [member] | Payable to platform investors [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 1,569,367 | 2,747,891 |
Repayable on demand [member] | Accounts and other payables and contract liabilities [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 5,385,010 | 8,814,255 |
Repayable on demand [member] | Payable to investors of consolidated structured entities [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 47,351 | 45,628 |
Repayable on demand [member] | Financing guarantee liabilities [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 68,502,938 | 64,731,369 |
Not later than three months [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 186,454,243 | 165,816,681 |
Not later than three months [member] | Borrowings [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 37,506,884 | 16,717,997 |
Not later than three months [member] | Bond payable [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 2,209,274 | |
Not later than three months [member] | Accounts and other payables and contract liabilities [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 3,745,929 | |
Not later than three months [member] | Payable to investors of consolidated structured entities [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 133,933,056 | 148,079,478 |
Not later than three months [member] | Lease liabilities [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 462,785 | 484,497 |
Not later than three months [member] | Convertible Promissory Note Payable [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 50,177 | 91,869 |
Not later than three months [member] | Optionally Convertible Promissory Notes [Member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 8,546,138 | 442,840 |
Later than one year and not later than two years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 45,591,280 | 79,708,552 |
Later than one year and not later than two years [member] | Borrowings [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 0 | 9,628,462 |
Later than one year and not later than two years [member] | Payable to investors of consolidated structured entities [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 45,293,609 | 49,505,033 |
Later than one year and not later than two years [member] | Lease liabilities [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 247,494 | 248,770 |
Later than one year and not later than two years [member] | Convertible Promissory Note Payable [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 50,177 | 12,502,777 |
Later than one year and not later than two years [member] | Optionally Convertible Promissory Notes [Member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 0 | 7,823,510 |
Later than two years and not later than three years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 4,300,276 | 5,655,954 |
Later than two years and not later than three years [member] | Payable to investors of consolidated structured entities [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 4,182,362 | 5,570,774 |
Later than two years and not later than three years [member] | Lease liabilities [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 67,737 | 85,180 |
Later than two years and not later than three years [member] | Convertible Promissory Note Payable [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 50,177 | |
Later than three years and not later than four years [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 6,939,981 | 9,329 |
Later than three years and not later than four years [member] | Payable to investors of consolidated structured entities [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 65,607 | |
Later than three years and not later than four years [member] | Lease liabilities [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | 6,819 | ¥ 9,329 |
Later than three years and not later than four years [member] | Convertible Promissory Note Payable [member] | ||
Disclosure of maturity analysis for non-derivative financial liabilities [line items] | ||
Financial liabilities | ¥ 6,867,555 |
Financial Instruments And Ri_11
Financial Instruments And Risks - Additional Information (Detail) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2021 CNY (¥) | Dec. 31, 2022 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Disclosure Of Macroeconomic Assumptions For Calculating Expected Credit Losses [Line Items] | |||
Expected credit loss rate | 7.12% | 12.15% | |
Bottom of range [member] | Discount rate, measurement input [member] | Unlisted Securities at Fair Value Through Profit or Loss [Member] | |||
Disclosure Of Macroeconomic Assumptions For Calculating Expected Credit Losses [Line Items] | |||
Significant unobservable input, assets | 6.8 | 6.8 | 6.8 |
Top of range [member] | Discount rate, measurement input [member] | Unlisted Securities at Fair Value Through Profit or Loss [Member] | |||
Disclosure Of Macroeconomic Assumptions For Calculating Expected Credit Losses [Line Items] | |||
Significant unobservable input, assets | 9.5 | 9.5 | 9.5 |
Wealth Management Products Investments [Member] | |||
Disclosure Of Macroeconomic Assumptions For Calculating Expected Credit Losses [Line Items] | |||
Transfers into Level 3 of fair value hierarchy, assets | ¥ 1,035.6 | ||
Increase In Upside Scenario [Member] | |||
Disclosure Of Macroeconomic Assumptions For Calculating Expected Credit Losses [Line Items] | |||
Expected credit loss rate | 10% | ||
Cumulative expected credit loss estimated decrease in impairment provision | ¥ 15 | ¥ 62 | ¥ 5 |
Reduction In Downside Scenario [Member] | |||
Disclosure Of Macroeconomic Assumptions For Calculating Expected Credit Losses [Line Items] | |||
Expected credit loss rate | 10% | ||
Reduction In Base Case Scenario [Member] | |||
Disclosure Of Macroeconomic Assumptions For Calculating Expected Credit Losses [Line Items] | |||
Expected credit loss rate | 10% | ||
Cumulative expected credit loss estimated increase in impairment provision | ¥ 32 | ||
Increase In Downside Scenario [Member] | |||
Disclosure Of Macroeconomic Assumptions For Calculating Expected Credit Losses [Line Items] | |||
Expected credit loss rate | 10% | ||
Cumulative expected credit loss estimated increase in impairment provision | ¥ 123 | ¥ 6 |
Financial Instruments And Ri_12
Financial Instruments And Risks - Summary of Group's Maximum Exposure To Structured Entities (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Unconsolidated Structured Products Managed By Third Parties [Member] | ||
Disclosure Of Maximum Exposure To Consolidated Structured Entities [Line Items] | ||
Carrying amount of investment in structured entities | ¥ 17,312,195 | ¥ 8,661,387 |
Group's maximum exposure | 17,312,195 | 8,661,387 |
Unconsolidated Structured Products Managed By Affiliated Entities [Member] | ||
Disclosure Of Maximum Exposure To Consolidated Structured Entities [Line Items] | ||
Carrying amount of investment in structured entities | 8,321,066 | 12,219,226 |
Group's maximum exposure | 8,321,066 | 12,219,226 |
Unconsolidated Structured Products Serviced By the Group [Member] | ||
Disclosure Of Maximum Exposure To Consolidated Structured Entities [Line Items] | ||
Group's maximum exposure | 1,849,897 | 1,428,320 |
Size | ¥ 2,581,999 | ¥ 18,178,437 |
Financial Instruments And Ri_13
Financial Instruments And Risks - Summary of Fair Value Estimation (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | ¥ 29,089,447 | ¥ 31,023,211 |
Interest rate swap | (447,443) | (38,403) |
Foreign currency swap | 0 | (25,772) |
Total | 29,536,890 | 31,035,842 |
Level 1 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 7,125,498 | 2,494,392 |
Level 2 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 19,957,165 | 27,276,217 |
Level 3 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Total | 2,454,227 | 1,265,233 |
Asset Management Plans [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 5,009,713 | 8,307,773 |
Asset Management Plans [Member] | Level 2 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 4,667,559 | 7,802,270 |
Asset Management Plans [Member] | Level 3 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 342,154 | 505,503 |
Mutual Funds [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 7,125,498 | 2,486,541 |
Mutual Funds [Member] | Level 1 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 7,125,498 | 2,486,541 |
Trust Plans [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 3,890,549 | 3,052,089 |
Trust Plans [Member] | Level 2 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 3,268,709 | 2,448,373 |
Trust Plans [Member] | Level 3 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 621,840 | 603,716 |
Structured Deposits [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 2,406,785 | 6,640,977 |
Structured Deposits [Member] | Level 2 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 2,406,785 | 6,640,977 |
Bank wealth management products [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 7,563,450 | 4,589,101 |
Bank wealth management products [Member] | Level 2 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 7,563,450 | 4,589,101 |
Corporate Bonds [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 46,435 | 3,064,872 |
Corporate Bonds [Member] | Level 2 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 0 | 3,017,849 |
Corporate Bonds [Member] | Level 3 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 46,435 | 47,023 |
Private Equity Fund And Other Equity Investments [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 2,044,051 | 2,765,016 |
Private Equity Fund And Other Equity Investments [Member] | Level 2 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 1,603,219 | 2,765,016 |
Private Equity Fund And Other Equity Investments [Member] | Level 3 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 440,832 | |
Other debt investments [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 1,002,966 | 108,991 |
Other debt investments [Member] | Level 3 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 1,002,966 | 108,991 |
Stock [Member] | Listed Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 7,851 | |
Stock [Member] | Level 1 of fair value hierarchy [member] | Listed Securities [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Financial assets at fair value through profit or loss | 7,851 | |
Derivative instruments interest rate swap [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Interest rate swap | 222,086 | 38,403 |
Derivative instruments interest rate swap [Member] | Level 2 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Interest rate swap | 222,086 | 38,403 |
Derivative instruments foreign currency swap [Member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Foreign currency swap | 225,357 | (25,772) |
Derivative instruments foreign currency swap [Member] | Level 2 of fair value hierarchy [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Foreign currency swap | ¥ 225,357 | ¥ (25,772) |
Financial Instruments And Ri_14
Financial Instruments And Risks - Summary of The Changes In Level 3 Instruments (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of fair value measurement of assets [line items] | |||
Assets | ¥ 360,433,486 | ||
Assets | 349,262,807 | ¥ 360,433,486 | |
Level 3 of fair value hierarchy [member] | Financial assets at fair value through profit or loss, category [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Assets | 1,265,233 | 1,266,495 | ¥ 2,842,839 |
Additions | 1,548,065 | 131,829 | 0 |
Disposal | (300,136) | (29,664) | (1,266,827) |
Transfer into level 3 | 0 | 1,035,642 | 0 |
Transfer out of level 3 | 0 | (3,047) | |
Gains or losses recognized in profit or loss | (58,935) | (1,136,022) | (309,517) |
Assets | ¥ 2,454,227 | ¥ 1,265,233 | ¥ 1,266,495 |
Financial Instruments And Ri_15
Financial Instruments And Risks -- Summary of Impact to Profit/(Loss) Before Income Tax (Detail) - Discount rate, measurement input [member] - Unlisted Securities at Fair Value Through Profit or Loss [Member] - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [line items] | |||
Increase (decrease) in fair value measurement due to reasonably possible increase in unobservable input, recognised in profit or loss, before tax, assets | ¥ (42,824) | ¥ (42,509) | ¥ (28,078) |
Increase (decrease) in fair value measurement due to reasonably possible decrease in unobservable input, recognised in profit or loss, before tax, assets | ¥ 45,826 | ¥ 45,553 | ¥ 29,023 |
Financial Instruments And Ri_16
Financial Instruments And Risks -- Summary of Impact to Profit/(Loss) Before Income Tax (Parenthetical) (Detail) | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of sensitivity analysis of fair value measurement to changes in unobservable inputs, assets [abstract] | |||
Percentage of reasonably possible increase in unobservable input, assets | 100% | 100% | 100% |
Percentage of reasonably possible decrease in unobservable input, assets | 100% | 100% | 100% |
Technology platform-based inc_3
Technology platform-based income - Summary of Remaining Performance Obligations of Long Term Contracts (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Aggregate amount of the transaction price allocated to long-term contracts that are partially or fully unsatisfied at the end of the year | ¥ 18,911,239 | ¥ 30,764,730 |
Expected to be recognized within one year [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Aggregate amount of the transaction price allocated to long-term contracts that are partially or fully unsatisfied at the end of the year | 11,330,057 | 20,908,676 |
Expected to be recognized in one to two years [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Aggregate amount of the transaction price allocated to long-term contracts that are partially or fully unsatisfied at the end of the year | 5,643,999 | 8,131,102 |
Expected to be recognized over two years [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Aggregate amount of the transaction price allocated to long-term contracts that are partially or fully unsatisfied at the end of the year | ¥ 1,937,183 | ¥ 1,724,952 |
Technology platform-based inc_4
Technology platform-based income - Summary of Retail Credit Facilitation Service Fees (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of retail credit facilitation service fees [line items] | |||
Retail credit facilitation service fees | ¥ 28,621,121 | ¥ 36,793,020 | ¥ 39,587,797 |
Goods or services transferred at point in time [member] | |||
Disclosure of retail credit facilitation service fees [line items] | |||
Referral income from platform service | 1,146,925 | 706,046 | 130,893 |
Loan facilitation service [member] | Goods or services transferred at point in time [member] | |||
Disclosure of retail credit facilitation service fees [line items] | |||
Retail credit facilitation service fees | 3,446,163 | 5,675,612 | 7,141,725 |
Post origination service [member] | Goods or services transferred over time [member] | |||
Disclosure of retail credit facilitation service fees [line items] | |||
Retail credit facilitation service fees | ¥ 24,028,033 | ¥ 30,411,362 | ¥ 32,315,179 |
Technology platform-based inc_5
Technology platform-based income - Summary of Technology platform based income (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | ¥ 29,218,432 | ¥ 38,294,317 | ¥ 41,221,842 |
Retail Credit and Enablement Service Fees [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | 28,621,121 | 36,793,020 | 39,587,797 |
Other Technology Platform Based Income [Member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Revenue | ¥ 597,311 | ¥ 1,501,297 | ¥ 1,634,045 |
Net Interest Income - Summary o
Net Interest Income - Summary of Net Interest Income (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of net interest income [line items] | |||
Interest income | ¥ 1,267,815 | ¥ 820,843 | ¥ 364,385 |
Total net interest income | 18,981,376 | 14,174,231 | 7,750,460 |
Loans originated by consolidated trust plans [member] | |||
Disclosure of net interest income [line items] | |||
Interest income | 25,869,521 | 21,229,806 | 10,640,860 |
Interest expense | (10,216,770) | (8,400,992) | (4,283,151) |
Total net interest income | 15,652,751 | 12,828,814 | 6,357,709 |
Loans originated by microloan lending companies and consumer finance company [member] | |||
Disclosure of net interest income [line items] | |||
Interest income | 4,023,755 | 1,535,023 | 1,395,961 |
Interest expense | (695,130) | (189,606) | (3,210) |
Total net interest income | ¥ 3,328,625 | ¥ 1,345,417 | ¥ 1,392,751 |
Other Income - Summary of Other
Other Income - Summary of Other Income (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of other operating income [abstract] | |||
Account management service fees | ¥ 1,094,030 | ¥ 3,507,999 | ¥ 1,253,760 |
Penalty fee income | 80,201 | 276,250 | 212,328 |
Others | 63,773 | 91,158 | 50,954 |
Other income | ¥ 1,238,004 | ¥ 3,875,407 | ¥ 1,517,042 |
Investment Income - Summary of
Investment Income - Summary of Investment Income (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Interest income | |||
Financial assets at amortized cost | ¥ 341,617 | ¥ 479,043 | ¥ 304,627 |
Financial assets purchased under reverse repurchase agreements | 76,737 | 83,763 | 29,328 |
Interest income | 418,354 | 562,806 | 333,955 |
Realized gains | |||
Financial assets at fair value through profit or loss | 1,099,568 | 991,437 | 1,163,988 |
Financial assets at amortized cost | 80,866 | ||
Realized gains | 1,099,568 | 1,072,303 | 1,163,988 |
Net change in unrealized gains/(losses) | |||
Financial assets at fair value through profit or loss | (212,297) | (483,356) | (558,044) |
Investment income | ¥ 1,305,625 | ¥ 1,151,753 | ¥ 939,899 |
Expense by Nature - Summary of
Expense by Nature - Summary of Expenses by Nature (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Expenses by nature [abstract] | |||
Employee benefit expenses | ¥ 15,080,319 | ¥ 16,402,993 | ¥ 14,145,207 |
Loan origination and servicing expenses | 3,667,962 | 5,712,598 | 7,091,078 |
Promotion and advertising expenses | 1,525,797 | 1,685,847 | 1,221,762 |
Outsourcing service expenses | 1,391,292 | 1,355,273 | 1,333,342 |
Payment processing expenses | 1,134,905 | 1,197,869 | 1,204,712 |
Trust management fee | 1,251,761 | 1,078,380 | 504,428 |
Business entertainment expenses | 389,369 | 619,328 | 769,834 |
Depreciation of right-of-use assets | 578,014 | 608,889 | 604,018 |
Taxes and surcharges | 568,826 | 534,647 | 380,460 |
Depreciation of property and equipment | 177,799 | 193,511 | 226,862 |
Audit fees | 39,271 | 42,376 | 49,618 |
Amortization of intangible assets | 15,325 | 22,234 | 31,831 |
Listing expenses | 11,418 | 0 | 0 |
Others | 1,057,293 | 740,039 | 1,049,327 |
Total sales and marketing expenses, general and administrative expenses, operation and servicing expenses, technology and analytics expenses | ¥ 26,889,351 | ¥ 30,193,984 | ¥ 28,612,479 |
Expense by Nature - Summary o_2
Expense by Nature - Summary of Sales and Marketing Expenses (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Sales and marketing expense | |||
Borrower acquisition expenses | ¥ 7,865,407 | ¥ 10,119,525 | ¥ 11,506,402 |
General sales and marketing expenses | 6,653,847 | 6,637,150 | 5,402,999 |
Investor acquisition and retention expenses | 301,092 | 676,984 | 819,888 |
Referral expenses from platform service | 936,570 | 559,413 | 84,268 |
Sales and marketing expenses | ¥ 15,756,916 | ¥ 17,993,072 | ¥ 17,813,557 |
Expense By Nature - Summary o_3
Expense By Nature - Summary of Employee Benefit Expenses (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Classes of employee benefits expense [abstract] | |||
Wages, salaries and bonuses | ¥ 10,163,216 | ¥ 11,681,753 | ¥ 10,764,239 |
Other social security costs, housing benefits and other employee benefits | 3,293,366 | 3,157,771 | 2,787,803 |
Pension costs – defined contribution plans | 1,577,818 | 1,430,074 | 427,917 |
Share-based payment | 45,919 | 133,395 | 165,248 |
Employee benefits expense | ¥ 15,080,319 | ¥ 16,402,993 | ¥ 14,145,207 |
Expense by Nature - Summary O_4
Expense by Nature - Summary Of Detailed Information About Highest Paid Individuals Explanatory (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Detailed Information About Highest Paid Individuals [Line Items] | |||
Wages, salaries and bonuses | ¥ 10,163,216 | ¥ 11,681,753 | ¥ 10,764,239 |
Other social security costs, housing benefits and other employee benefits | 3,293,366 | 3,157,771 | 2,787,803 |
Pension costs – defined contribution plans | 1,577,818 | 1,430,074 | 427,917 |
Employee benefits expense | 15,080,319 | 16,402,993 | 14,145,207 |
Highest Paid Individuals [Member] | |||
Disclosure Of Detailed Information About Highest Paid Individuals [Line Items] | |||
Wages, salaries and bonuses | 10,044 | 12,294 | 4,600 |
Other social security costs, housing benefits and other employee benefits | 2,819 | 2,132 | 1,515 |
Pension costs – defined contribution plans | 149 | 57 | 0 |
Employee benefits expense | ¥ 13,012 | ¥ 14,483 | ¥ 6,115 |
Expense by Nature - Summary o_5
Expense by Nature - Summary of Detailed Information About Emoluments Bands Of Highest Paid Individuals Explanatory (Detail) - Individuals- | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Discloure of Detailed Information About Emoluments Bands Of Highest Paid Individuals [Line Items] | |||
Number of Highest Paid Individuals | 3 | 2 | 1 |
Emolument Bands Range One [Member] | |||
Discloure of Detailed Information About Emoluments Bands Of Highest Paid Individuals [Line Items] | |||
Number of Highest Paid Individuals | 2 | 0 | 0 |
Emolument Bands Range Two [Member] | |||
Discloure of Detailed Information About Emoluments Bands Of Highest Paid Individuals [Line Items] | |||
Number of Highest Paid Individuals | 1 | 2 | 1 |
Credit Impairment Losses - Summ
Credit Impairment Losses - Summary of Credit Impairment Losses (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of credit impairment losses [abstract] | |||
Financing guarantee contracts | ¥ 7,660,622 | ¥ 2,933,903 | ¥ 772,614 |
Loans to customers | 7,175,389 | 2,441,111 | 744,893 |
Accounts and other receivables and contract assets | 1,140,937 | 991,903 | 1,499,344 |
Financial assets at amortized cost | 575,161 | 272,909 | 18,193 |
Others | (1,644) | 3,901 | 144 |
Credit impairment losses | ¥ 16,550,465 | ¥ 6,643,727 | ¥ 3,035,188 |
Finance Costs - Summary of Fina
Finance Costs - Summary of Finance Cost (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Analysis of income and expense [abstract] | |||
Interest expenses on convertible promissory note | ¥ 1,045,611 | ¥ 893,001 | ¥ 883,759 |
Interest expenses on borrowings | 701,637 | 380,447 | 211,306 |
Interest expenses on Convertible Notes | 521,747 | 495,079 | 135,412 |
One-time expenses related to early redemption and extension of convertible promissory note (Note 34(a)) | 173,775 | 0 | 0 |
Interest expenses on lease liabilities | 41,402 | 38,709 | 46,567 |
Interest expenses on unpaid consideration of convertible promissory note (Note 34(a)) | 16,162 | 0 | 0 |
Interest expenses on consolidated wealth management products | 6,473 | 9,122 | 92,302 |
One-time expenses related to C-round restructuring | 0 | 0 | 1,326,007 |
Interest expenses on convertible redeemable preferred shares | 0 | 0 | 534,686 |
Bank interest income | (1,267,815) | (820,843) | (364,385) |
Finance costs | ¥ 1,238,992 | ¥ 995,515 | ¥ 2,865,654 |
Other gains_(losses) - net - Su
Other gains/(losses) - net - Summary of Detailed Information About Other Gains Losses Net Explanatory (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Discloure of Detailed Information About Other Gains Losses Net [Abstract] | |||
Government grants | ¥ 408,164 | ¥ 251,309 | ¥ 164,988 |
Input VAT super-deduction | 92,230 | 46,127 | 81,850 |
ADS transferring income | 236,827 | 109,843 | 3,444 |
Foreign exchange gains/(losses) | (877,232) | 206,753 | 192,337 |
Others | 143,470 | (114,653) | (58,349) |
Other gains (losses) | ¥ 3,459 | ¥ 499,379 | ¥ 384,270 |
Other gains_(losses) - Addition
Other gains/(losses) - Additional Information (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Text block [abstract] | |||
Foreign exchange gain | ¥ 207 | ¥ 192 | |
Foreign exchange loss | ¥ 877 |
Income Tax Expenses - Summary o
Income Tax Expenses - Summary of Income Tax Expense (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Major components of tax expense (income) [abstract] | |||
Current income tax | ¥ 4,494,818 | ¥ 13,105,863 | ¥ 5,570,012 |
Deferred income tax | (256,586) | (6,414,745) | 63,253 |
Income tax expense | ¥ 4,238,232 | ¥ 6,691,118 | ¥ 5,633,265 |
Income Tax Expenses - Summary_2
Income Tax Expenses - Summary of Reconciliation from Income Tax Calculated Based on the Applicable Tax Rates and Profit before Income Tax Expenses (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | ||
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | ||||
Profit before income tax expenses | ¥ 13,013,271 | ¥ 23,400,178 | ¥ 17,909,505 | |
Income tax calculated at the PRC statutory tax rate of 25%. | 3,253,318 | 5,850,045 | 4,477,376 | |
Tax effect of: | ||||
Reversal of deferred tax assets recognized in prior years | 62,925 | 381,456 | 3,643 | |
Differential income tax rates applicable to subsidiaries (Note a, b, c, d and e) | [1],[2],[3],[4] | 534,154 | 263,707 | 756,392 |
Expenses and losses not deductible for tax purposes | [5] | 265,674 | 245,097 | 262,843 |
Deductible temporary differences and tax losses for which no deferred tax asset was recognized | [6] | 233,457 | 210,748 | 280,251 |
Income not subject to tax | (5,971) | (19,640) | (99,378) | |
Utilization of previously unrecognized deferred tax assets | (100,351) | (24,649) | (14,711) | |
Research and development tax credit | (40,121) | (39,038) | (38,680) | |
Effect of tax rate changes on deferred income taxes | (9,565) | (42,929) | 0 | |
Others | [7] | 44,712 | (133,679) | 5,529 |
Income tax expense | ¥ 4,238,232 | ¥ 6,691,118 | ¥ 5,633,265 | |
[1]Cayman Islands and BVI 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. The Group entities established under the BVI Business Companies Acts are exempted from BVI income taxes.[2]Hong Kong Income Tax Under the current Hong Kong Inland Revenue Ordinance, the Company’s subsidiaries incorporated in Hong Kong are subject to 16.5% income tax on their taxable income generated from operations in Hong Kong. Additionally, payments of dividends by the subsidiaries incorporated in Hong Kong to the Company are not subject to any Hong Kong withholding tax. Commencing from the year of assessment of 2018, the first HKD2 million of profits earned by the Company’s subsidiaries incorporated in Hong Kong will be taxed at half of the current tax rate (i.e. 8.25%) while the remaining profits will continue to be taxed at the existing 16.5% tax rate.[3]Indonesia Income Tax The Indonesia income tax rate is 22%. No Indonesia profits tax was provided for as there was no estimated assessable profit that was subject to Indonesia profits tax for the years ended December 31, 2020, 2021 and 2022.[4]Singapore Income Tax The Singapore income tax rate is 17%. No Singapore profits tax was provided for as there was no estimated assessable profit that was subject to Singapore profits tax for the years ended December 31, 2020, 2021 and 2022.[5]Expenses and losses not deductible for tax purposes mainly related to business entertainment expenses and advertising expenses exceeding certain threshold, as well as share-based compensation expenses, which are not tax deductible according to the relevant tax regualtions. The decrease of these amounts in 2022 was mainly due to decrease in business activities as a result of covid-19 For the years ended December 31, 2020, 2021 and 2022, others mainly included PRC withholding income tax and the adjustments for current tax of prior periods during annual tax filing. In 2021, an application of a pre-tax deduction on a prior expense was confirmed by Tax Bureau during the annual tax filing, which caused an adjustment for current tax of prior periods. |
Income Tax Expenses - Additiona
Income Tax Expenses - Additional Information (Detail) - HKD ($) $ in Millions | 12 Months Ended | |||
Nov. 27, 2018 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income tax [line items] | ||||
Preferential Tax rate | 15% | 15% | 15% | |
Weikun technology [member] | ||||
Income tax [line items] | ||||
Preferential Tax rate | 15% | 15% | 15% | 15% |
PRC company [member] | Bottom of range [member] | ||||
Income tax [line items] | ||||
Increase decrease in withholding tax rate | 5% | |||
PRC company [member] | Top of range [member] | ||||
Income tax [line items] | ||||
Increase decrease in withholding tax rate | 10% | |||
Hong Kong [member] | ||||
Income tax [line items] | ||||
Income tax rate | 16.50% | |||
Accounting profit | $ 2 | |||
Tax rate effect changes in profit | 8.25% | |||
Average effective tax rate | 16.50% | |||
Singapore [member] | ||||
Income tax [line items] | ||||
Income tax rate | 17% | 17% | 17% | |
Indonesia [member] | ||||
Income tax [line items] | ||||
Income tax rate | 22% | 22% | 22% | |
PRC [member] | ||||
Income tax [line items] | ||||
Income tax rate | 25% | 25% | 25% |
Earnings Per Share- Disclosure
Earnings Per Share- Disclosure of Basic Earnings Per Share (Detail) - CNY (¥) ¥ / shares in Units, ¥ in Thousands, shares in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Earnings per share [Line Items] | |||
Profit attributable to owners of the Company | ¥ 8,699,369 | ¥ 16,804,380 | ¥ 12,354,114 |
Weighted average number of ordinary shares in issue | 1,145,050 | 1,181,850 | 1,104,155 |
Ordinary shares [member] | |||
Earnings per share [Line Items] | |||
Basic earnings (in RMB) | ¥ 7.6 | ¥ 14.22 | ¥ 11.19 |
American depositary shares [member] | |||
Earnings per share [Line Items] | |||
Basic earnings (in RMB) | ¥ 3.8 | ¥ 7.11 | ¥ 5.59 |
Earnings Per Share - Summary of
Earnings Per Share - Summary of Diluted Earnings Per Share (Detail) - CNY (¥) ¥ / shares in Units, shares in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Weighted average number of ordinary shares | |||
Weighted average number of ordinary shares in issue (in '000) | 1,145,050 | 1,181,850 | 1,104,155 |
Assumed conversion of convertible instruments (in '000) | 0 | 169,737 | 21,874 |
Assumed exercise of share options and vesting of PSUs (in '000) | 2,318 | 8,165 | |
Weighted average number of ordinary share for diluted earnings per share | 1,147,368 | 1,359,752 | 1,126,029 |
Earnings | |||
Profit attributable to owners of the Company | ¥ 8,699,369,000 | ¥ 16,804,380,000 | ¥ 12,354,114,000 |
Interest expense on convertible instruments, net of tax | 0 | 1,388,080 | 147,293 |
Net profit used to determine diluted earnings per share | ¥ 8,699,369 | ¥ 18,192,460 | ¥ 12,501,407 |
Ordinary shares [member] | |||
Weighted average number of ordinary shares | |||
Diluted earnings (in RMB) | ¥ 7.58 | ¥ 13.38 | ¥ 11.1 |
American depositary shares [member] | |||
Weighted average number of ordinary shares | |||
Diluted earnings (in RMB) | ¥ 3.79 | ¥ 6.69 | ¥ 5.55 |
Cash At Bank And Restricted C_3
Cash At Bank And Restricted Cash - Disclosure of Cash At Bank (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Cash And Cash Equivalents [Line Items] | |||
Cash at bank | ¥ 43,882,127 | ¥ 34,743,188 | ¥ 24,158,568 |
Less: Provision for impairment losses | (2,115) | (3,392) | ¥ (185) |
Demand deposits | |||
Disclosure Of Cash And Cash Equivalents [Line Items] | |||
Cash at bank | 26,524,195 | 22,355,054 | |
Demand deposits | RMB | |||
Disclosure Of Cash And Cash Equivalents [Line Items] | |||
Cash at bank | 24,509,888 | 18,132,859 | |
Demand deposits | USD | |||
Disclosure Of Cash And Cash Equivalents [Line Items] | |||
Cash at bank | 1,985,271 | 4,137,462 | |
Demand deposits | HKD | |||
Disclosure Of Cash And Cash Equivalents [Line Items] | |||
Cash at bank | 13,586 | 43,697 | |
Demand deposits | IDR | |||
Disclosure Of Cash And Cash Equivalents [Line Items] | |||
Cash at bank | 15,450 | 37,385 | |
Demand deposits | SGD | |||
Disclosure Of Cash And Cash Equivalents [Line Items] | |||
Cash at bank | 0 | 3,651 | |
Time deposits | |||
Disclosure Of Cash And Cash Equivalents [Line Items] | |||
Cash at bank | 17,360,047 | 12,391,526 | |
Time deposits | RMB | |||
Disclosure Of Cash And Cash Equivalents [Line Items] | |||
Cash at bank | 17,248,631 | 11,659,866 | |
Time deposits | USD | |||
Disclosure Of Cash And Cash Equivalents [Line Items] | |||
Cash at bank | 0 | 637,884 | |
Time deposits | IDR | |||
Disclosure Of Cash And Cash Equivalents [Line Items] | |||
Cash at bank | ¥ 111,416 | ¥ 93,776 |
Cash At Bank And Restricted C_4
Cash At Bank And Restricted Cash - Disclosure of Restricted Cash (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Cash and cash equivalents [abstract] | ||
Cash from consolidated structured entities | ¥ 22,990,022 | ¥ 24,903,595 |
Deposits for borrowings | 1,478,504 | 3,042,930 |
Deposits held on behalf of platform investors | 702,018 | 1,791,455 |
Others | 1,338,087 | 715,559 |
Restricted cash | ¥ 26,508,631 | ¥ 30,453,539 |
Cash At Bank And Restricted C_5
Cash At Bank And Restricted Cash - Summary of Detailed Information about Cash At Bank of Parent Company Explanatory (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of Detailed Information about Cash At Bank of Parent Company [Line Items] | |||
Cash at bank | ¥ 43,882,127 | ¥ 34,743,188 | ¥ 24,158,568 |
Less: Provision for impairment losses | 2,115 | 3,392 | ¥ 185 |
Parent [member] | |||
Disclosure of Detailed Information about Cash At Bank of Parent Company [Line Items] | |||
Cash at bank | 1,644,302 | 1,813,616 | |
Less: Provision for impairment losses | 0 | 0 | |
Demand Deposits [Member] | |||
Disclosure of Detailed Information about Cash At Bank of Parent Company [Line Items] | |||
Cash at bank | 26,524,195 | 22,355,054 | |
Demand Deposits [Member] | Parent [member] | |||
Disclosure of Detailed Information about Cash At Bank of Parent Company [Line Items] | |||
Cash at bank | 1,644,302 | 1,653,163 | |
Demand Deposits [Member] | CURRENCYC N Y [Member] | Parent [member] | |||
Disclosure of Detailed Information about Cash At Bank of Parent Company [Line Items] | |||
Cash at bank | 5,518 | 18,705 | |
Demand Deposits [Member] | CURRENCYU S D [Member] | Parent [member] | |||
Disclosure of Detailed Information about Cash At Bank of Parent Company [Line Items] | |||
Cash at bank | 1,638,784 | 1,634,458 | |
Time Deposits [Member] | |||
Disclosure of Detailed Information about Cash At Bank of Parent Company [Line Items] | |||
Cash at bank | 17,360,047 | 12,391,526 | |
Time Deposits [Member] | Parent [member] | |||
Disclosure of Detailed Information about Cash At Bank of Parent Company [Line Items] | |||
Cash at bank | 0 | 160,453 | |
Time Deposits [Member] | CURRENCYC N Y [Member] | Parent [member] | |||
Disclosure of Detailed Information about Cash At Bank of Parent Company [Line Items] | |||
Cash at bank | 0 | 160,453 | |
Time Deposits [Member] | CURRENCYU S D [Member] | Parent [member] | |||
Disclosure of Detailed Information about Cash At Bank of Parent Company [Line Items] | |||
Cash at bank | ¥ 0 | ¥ 0 |
Financial Assets At Fair Valu_3
Financial Assets At Fair Value Through Profit or Loss - Disclosure of Financial Assets At Fair Value Through Profit Or Loss (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of financial instruments at fair value through profit or loss [line items] | ||
Financial assets at fair value through profit or loss | ¥ 29,089,447 | ¥ 31,023,211 |
Parent [member] | ||
Disclosure of financial instruments at fair value through profit or loss [line items] | ||
Financial assets at fair value through profit or loss | 767,636 | 383,888 |
Bank wealth management products [member] | ||
Disclosure of financial instruments at fair value through profit or loss [line items] | ||
Financial assets at fair value through profit or loss | 7,563,450 | 4,589,101 |
Mutual funds [member] | ||
Disclosure of financial instruments at fair value through profit or loss [line items] | ||
Financial assets at fair value through profit or loss | 7,125,498 | 2,486,541 |
Asset management plans [member] | ||
Disclosure of financial instruments at fair value through profit or loss [line items] | ||
Financial assets at fair value through profit or loss | 5,009,713 | 8,307,773 |
Trust plans [member] | ||
Disclosure of financial instruments at fair value through profit or loss [line items] | ||
Financial assets at fair value through profit or loss | 3,890,549 | 3,052,089 |
Structured deposits [member] | ||
Disclosure of financial instruments at fair value through profit or loss [line items] | ||
Financial assets at fair value through profit or loss | 2,406,785 | 6,640,977 |
Private fund and other equity investments [member] | ||
Disclosure of financial instruments at fair value through profit or loss [line items] | ||
Financial assets at fair value through profit or loss | 2,044,051 | 2,765,016 |
Other debt investments [member] | ||
Disclosure of financial instruments at fair value through profit or loss [line items] | ||
Financial assets at fair value through profit or loss | 1,002,966 | 108,991 |
Corporate bonds [member] | ||
Disclosure of financial instruments at fair value through profit or loss [line items] | ||
Financial assets at fair value through profit or loss | 46,435 | 3,064,872 |
Factoring products [member] | ||
Disclosure of financial instruments at fair value through profit or loss [line items] | ||
Financial assets at fair value through profit or loss | 0 | |
Stock [member] | Listed Securities [Member] | ||
Disclosure of financial instruments at fair value through profit or loss [line items] | ||
Financial assets at fair value through profit or loss | 7,851 | |
Private fund investments [member] | Parent [member] | ||
Disclosure of financial instruments at fair value through profit or loss [line items] | ||
Financial assets at fair value through profit or loss | ¥ 767,636 | ¥ 383,888 |
Financial Assets At Fair Valu_4
Financial Assets At Fair Value Through Profit or Loss - Disclosure of Financial Assets At Fair Value Through Profit Or Loss (Parenthetical) (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of financial instruments at fair value through profit or loss [line items] | ||
Financial assets at fair value through profit or loss past due | ¥ 3,742 | ¥ 3,325 |
Fair loss recognized in the current period by overdue financial assets at fair value through profit or loss | ¥ 100 | ¥ 1,172 |
Financial Assets At Amortized_3
Financial Assets At Amortized Cost - Disclosure Of Financial Assets At Amortized Cost (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Financial assets at amortized cost [Line Items] | ||
Unlisted securities | ¥ 6,594,786 | ¥ 5,123,589 |
Less: Provision for impairment losses | (1,878,338) | (1,338,976) |
Financial assets at amortized cost | ¥ 4,716,448 | ¥ 3,784,613 |
Expected credit loss rate | 12.15% | 7.12% |
Parent [member] | ||
Disclosure Of Financial assets at amortized cost [Line Items] | ||
Unlisted securities | ¥ 156,049 | ¥ 8,854,330 |
Less: Provision for impairment losses | (447) | (7,707) |
Financial assets at amortized cost | 155,602 | 8,846,623 |
Debt Investments [Member] | ||
Disclosure Of Financial assets at amortized cost [Line Items] | ||
Unlisted securities | 6,471,987 | 5,002,174 |
Loans to subsidiaries [member] | Parent [member] | ||
Disclosure Of Financial assets at amortized cost [Line Items] | ||
Unlisted securities | 137,662 | 8,781,896 |
Interest receivable [Member] | ||
Disclosure Of Financial assets at amortized cost [Line Items] | ||
Unlisted securities | 122,799 | 121,415 |
Interest receivable [Member] | Parent [member] | ||
Disclosure Of Financial assets at amortized cost [Line Items] | ||
Unlisted securities | ¥ 18,387 | ¥ 72,434 |
Financial assets at amortised cost, class [member] | ||
Disclosure Of Financial assets at amortized cost [Line Items] | ||
Expected credit loss rate | 28.48% | 26.13% |
Financial Assets At Amortized_4
Financial Assets At Amortized Cost - Disclosure Of Financial Assets At Amortized Cost (Parenthetical) (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Detailed Information About Financial assets at amortized costs [Abstract] | ||
financial assets at amortized cost past due | ¥ 2,000 | ¥ 1,795 |
Impairment loss recognized in the current period | ¥ 565 | ¥ 300 |
Financial Assets At Amortized_5
Financial Assets At Amortized Cost - Disclosure of Carrying Amount of Financial Assets at Amortized Cost (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of carrying amount of financial assets at amortized cost [Line Items] | |||
Beginning balance | ¥ 3,784,613 | ||
Ending balance | 4,716,448 | ¥ 3,784,613 | |
Gross carrying amount [member] | |||
Disclosure of carrying amount of financial assets at amortized cost [Line Items] | |||
Beginning balance | 5,123,589 | 7,735,834 | ¥ 10,010,959 |
New financial assets originated or purchased | 5,715,342 | 8,041,561 | 8,649,672 |
Write-offs | (50,712) | (26,345) | (234,275) |
Disposal in the current period | (226,843) | ||
Financial assets de-recognized and other adjustments in the current period (including repayments of financial assets) | (4,193,433) | (10,400,618) | (10,690,522) |
Ending balance | 6,594,786 | 5,123,589 | 7,735,834 |
Gross carrying amount [member] | Stage 1 [member] | |||
Disclosure of carrying amount of financial assets at amortized cost [Line Items] | |||
Beginning balance | 2,709,756 | 5,512,867 | 7,223,195 |
New financial assets originated or purchased | 5,635,886 | 7,437,143 | 8,590,588 |
Transfers | (363,927) | ||
Transfer — From stage 1 to stage 2 | (363,927) | ||
Financial assets de-recognized and other adjustments in the current period (including repayments of financial assets) | (3,822,562) | (10,240,254) | (10,300,916) |
Ending balance | 4,159,153 | 2,709,756 | 5,512,867 |
Gross carrying amount [member] | Stage 2 [member] | |||
Disclosure of carrying amount of financial assets at amortized cost [Line Items] | |||
Transfer — From stage 1 to stage 2 | 363,927 | ||
Transfer — From stage 1 to stage 3 | (363,927) | ||
Gross carrying amount [member] | Stage 3 [member] | |||
Disclosure of carrying amount of financial assets at amortized cost [Line Items] | |||
Beginning balance | 1,865,241 | 2,115,235 | 2,655,132 |
Transfers | 363,927 | ||
Transfer — From stage 1 to stage 3 | 363,927 | ||
Write-offs | (38,858) | (17,651) | (221,754) |
Disposal in the current period | (226,843) | ||
Financial assets de-recognized and other adjustments in the current period (including repayments of financial assets) | (102,087) | (5,500) | (318,143) |
Ending balance | 2,088,223 | 1,865,241 | 2,115,235 |
Gross carrying amount [member] | POCI [Member] | |||
Disclosure of carrying amount of financial assets at amortized cost [Line Items] | |||
Beginning balance | 548,592 | 107,732 | 132,632 |
New financial assets originated or purchased | 79,456 | 604,418 | 59,084 |
Write-offs | (11,854) | (8,694) | (12,521) |
Financial assets de-recognized and other adjustments in the current period (including repayments of financial assets) | (268,784) | (154,864) | (71,463) |
Ending balance | ¥ 347,410 | ¥ 548,592 | ¥ 107,732 |
Financial Assets At Amortized_6
Financial Assets At Amortized Cost - Disclosure of Movement of ECL Allowance of Financial Assets At Amortized Cost (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of movement of ECL allowance of financial assets at amortized cost [Line Items] | |||
Beginning balance | ¥ 3,784,613 | ||
Ending balance | 4,716,448 | ¥ 3,784,613 | |
Allowance for credit losses [member] | |||
Disclosure of movement of ECL allowance of financial assets at amortized cost [Line Items] | |||
Beginning balance | 1,338,976 | 1,171,865 | ¥ 1,387,947 |
New financial assets originated or purchased | 19,733 | 10,808 | 8,593 |
Transfers | 232,385 | ||
Net impact on expected credit loss by stage transfer | 232,385 | ||
Write-offs | (50,712) | (26,345) | (234,275) |
Disposal in the current period | (144,320) | ||
Financial assets de-recognized and other adjustments in the current period (including repayments of financial assets) | (76,281) | 33,287 | (19,721) |
Change in parameters of expected credit loss model | 414,237 | 293,681 | 29,321 |
Ending balance | 1,878,338 | 1,338,976 | 1,171,865 |
Stage 1 [member] | Allowance for credit losses [member] | |||
Disclosure of movement of ECL allowance of financial assets at amortized cost [Line Items] | |||
Beginning balance | 11,904 | 5,160 | 13,997 |
New financial assets originated or purchased | 19,733 | 10,808 | 8,593 |
Transfers | (3,622) | ||
Transfers In Financial Assets At Amortised Cost From stage 1 to stage 2 | (3,622) | ||
Financial assets de-recognized and other adjustments in the current period (including repayments of financial assets) | (5,395) | (4,531) | (4,160) |
Change in parameters of expected credit loss model | 17,898 | 467 | (13,270) |
Ending balance | 40,518 | 11,904 | 5,160 |
Stage 2 [member] | Allowance for credit losses [member] | |||
Disclosure of movement of ECL allowance of financial assets at amortized cost [Line Items] | |||
Beginning balance | 0 | 0 | |
Transfers In Financial Assets At Amortised Cost From stage 1 to stage 2 | 3,622 | ||
Transfers In Financial Assets At Amortised Cost From stage 1 to stage 3 | (63,386) | ||
Net impact on expected credit loss by stage transfer | 59,764 | ||
Ending balance | 0 | ||
Stage 3 [member] | Allowance for credit losses [member] | |||
Disclosure of movement of ECL allowance of financial assets at amortized cost [Line Items] | |||
Beginning balance | 1,280,502 | 1,140,348 | 1,321,133 |
Transfers | 236,007 | ||
Transfers In Financial Assets At Amortised Cost From stage 1 to stage 3 | 63,386 | ||
Net impact on expected credit loss by stage transfer | 172,621 | ||
Write-offs | (38,858) | (17,651) | (221,754) |
Disposal in the current period | (144,320) | ||
Financial assets de-recognized and other adjustments in the current period (including repayments of financial assets) | (74,124) | (10,366) | (15,444) |
Change in parameters of expected credit loss model | 403,165 | 312,491 | 56,413 |
Ending balance | 1,806,692 | 1,280,502 | 1,140,348 |
POCI [Member] | Allowance for credit losses [member] | |||
Disclosure of movement of ECL allowance of financial assets at amortized cost [Line Items] | |||
Beginning balance | 46,570 | 26,357 | 52,817 |
Write-offs | (11,854) | (8,694) | (12,521) |
Financial assets de-recognized and other adjustments in the current period (including repayments of financial assets) | 3,238 | 48,184 | (117) |
Change in parameters of expected credit loss model | (6,826) | (19,277) | (13,822) |
Ending balance | ¥ 31,128 | ¥ 46,570 | ¥ 26,357 |
Financial Assets Purchased Un_3
Financial Assets Purchased Under Reverse Repurchase Agreements - Summary of Financial Assets Purchased Under Reverse Repurchase Agreements (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure of Detailed Information About Financial assets purchased under reverse repurchase agreements [Line Items] | |||
Financial assets purchased under reverse repurchase agreements | ¥ 0 | ¥ 5,527,177 | |
Bonds [Member] | |||
Disclosure of Detailed Information About Financial assets purchased under reverse repurchase agreements [Line Items] | |||
Financial assets purchased under reverse repurchase agreements | [1] | ¥ 0 | ¥ 5,527,177 |
[1]The Group enters into purchases of assets under reverse repurchase agreements. The Group may not take physical possession of assets purchased under such agreements. In the event of default by the counterparty to repurchase the assets, the Group has the right to the underlying assets. The difference between the purchasing price and reselling price is recognized as investment income over the term of the agreement using the effective interest method. |
Accounts and Other Receivable_3
Accounts and Other Receivables and Contract Assets - Summary of Accounts And Other Receivables And Contract Assets (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of financial assets [line items] | |||
Contract acquisition cost | ¥ 6,236,822 | ¥ 7,964,247 | |
Receivables from core retail credit and enablement service | 3,736,176 | 7,380,284 | |
Receivables from external payment services providers | 1,826,203 | 2,665,300 | |
Trust statutory deposits | 1,058,355 | 1,359,642 | |
Receivables for shares repurchase program | 859,772 | 870,006 | |
Receivables from referral arrangements | 586,461 | 288,164 | |
Receivables from other technology platform based service | 508,202 | 764,571 | |
Other deposits | 505,764 | 542,817 | |
Receivables from Guarantee Arrangements | 430,908 | 410,577 | |
Receivables from ADS income | 95,246 | 111,933 | |
Receivables from exercise of share options | 197 | 36,036 | |
Others | 553,530 | 582,044 | |
Less: Provision for impairment losses | 2,115 | 3,392 | ¥ 185 |
Accounts and other receivables and contract assets | 15,758,135 | 22,344,773 | |
Parent [member] | |||
Disclosure of financial assets [line items] | |||
Receivables for shares repurchase program | 859,772 | 870,006 | |
Receivables from subsidiaries | 672,128 | 3,623,687 | |
Receivables from ADS income | 95,246 | 111,933 | |
Receivables from exercise of share options | 197 | 36,036 | |
Less: Provision for impairment losses | 0 | 0 | |
Accounts and other receivables and contract assets | 1,627,343 | 4,641,662 | |
Trade And Other Receivables [Member] | |||
Disclosure of financial assets [line items] | |||
Less: Provision for impairment losses | ¥ (639,501) | ¥ (630,848) |
Account and Other Receivables a
Account and Other Receivables and Contract Assets - Schedule Of Aging Analysis Of Receivables Generated From Activities (Detail) - Activities Relating To Core Retail Credit And Enablement Service Other Technology Platform Based Service Referral And Guarantee Arrangements [Member] - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of Detailed Information About Maturity Analysis of Receivables [Line Items] | ||
Receivables from specified revenue generating activities | ¥ 5,261,747 | ¥ 8,843,596 |
Not later than one year [member] | ||
Disclosure of Detailed Information About Maturity Analysis of Receivables [Line Items] | ||
Receivables from specified revenue generating activities | 5,107,630 | 8,673,176 |
Later than one year and not later than two years [member] | ||
Disclosure of Detailed Information About Maturity Analysis of Receivables [Line Items] | ||
Receivables from specified revenue generating activities | 117,620 | 78,420 |
Later than two years and not later than three years [member] | ||
Disclosure of Detailed Information About Maturity Analysis of Receivables [Line Items] | ||
Receivables from specified revenue generating activities | 30,548 | 9,931 |
Later than three years [member] | ||
Disclosure of Detailed Information About Maturity Analysis of Receivables [Line Items] | ||
Receivables from specified revenue generating activities | ¥ 5,949 | ¥ 82,069 |
Accounts and Other Receivable_4
Accounts and Other Receivables and Contract Assets - Summary of Detailed Information About Movements In Provision for Impairment Losses (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of financial assets [abstract] | |||
At the beginning of the year | ¥ 630,848 | ¥ 688,378 | ¥ 401,626 |
Impairment loss recognized in the consolidated statement of comprehensive income | 1,140,937 | 991,903 | 1,499,344 |
Written off during the year | (1,172,660) | (1,083,618) | (1,283,858) |
Recovery of receivables written off previously | 40,376 | 34,185 | 71,266 |
At the end of the year | ¥ 639,501 | ¥ 630,848 | ¥ 688,378 |
Accounts and Other Receivable_5
Accounts and Other Receivables and Contract Assets - Summary of Loss Allowances For Certain Receivables Including Ageing (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of loss allowances for certain receivables including ageing details [Line Items] | ||
Expected credit loss rate | 12.15% | 7.12% |
Receivables from Core Retail Credit and Enablement Service | ¥ 3,736,176 | ¥ 7,380,284 |
Receivables from other technology platform-based service | 508,202 | 764,571 |
Receivables from Referral Arrangements | 586,461 | 288,164 |
Receivables from Guarantee Arrangements | 430,908 | 410,577 |
Loss allowance | ¥ (639,501) | ¥ (630,848) |
Current [member] | ||
Disclosure of loss allowances for certain receivables including ageing details [Line Items] | ||
Expected credit loss rate | 3.11% | 2.36% |
Receivables from Core Retail Credit and Enablement Service | ¥ 3,315,385 | ¥ 6,943,369 |
Receivables from other technology platform-based service | 508,202 | 764,571 |
Receivables from Referral Arrangements | 586,461 | 288,164 |
Receivables from Guarantee Arrangements | 321,228 | 379,493 |
Loss allowance | ¥ (147,337) | ¥ (197,933) |
Later than one day and not later than three months [member] | ||
Disclosure of loss allowances for certain receivables including ageing details [Line Items] | ||
Expected credit loss rate | 92.34% | 89.87% |
Receivables from Core Retail Credit and Enablement Service | ¥ 176,470 | ¥ 201,188 |
Receivables from other technology platform-based service | 0 | 0 |
Receivables from Referral Arrangements | 0 | 0 |
Receivables from Guarantee Arrangements | 52,191 | 18,069 |
Loss allowance | ¥ (211,145) | ¥ (197,042) |
Later than three months and not later than six months [member] | ||
Disclosure of loss allowances for certain receivables including ageing details [Line Items] | ||
Expected credit loss rate | 93.11% | 94.83% |
Receivables from Core Retail Credit and Enablement Service | ¥ 244,321 | ¥ 235,727 |
Receivables from other technology platform-based service | 0 | 0 |
Receivables from Referral Arrangements | 0 | 0 |
Receivables from Guarantee Arrangements | 57,489 | 13,015 |
Loss allowance | ¥ (281,019) | ¥ (235,873) |
Loans To Customers - Summary of
Loans To Customers - Summary of Loans To Customers (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Less: Provision for impairment losses | ||||
Allowance account for credit losses of financial assets | ¥ (639,501) | ¥ (630,848) | ¥ (688,378) | ¥ (401,626) |
Loans and advances to customers | ¥ 211,446,645 | ¥ 214,972,110 | ||
Expected credit loss rate | 12.15% | 7.12% | ||
Loans and receivables, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Interest receivable | ¥ 2,002,926 | ¥ 2,963,210 | ||
Less: Provision for impairment losses | ||||
Allowance account for credit losses of financial assets | ¥ (7,062,978) | ¥ (2,753,871) | ||
Expected credit loss rate | 3.23% | 1.26% | ||
Loans originated by consolidated trust plans [member] | Loans and receivables, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Loans originated by microloan lending companies and consumer finance company | ¥ 186,396,992 | ¥ 202,175,185 | ||
Loans originated by microloan lending companies and consumer finance company [member] | Loans and receivables, category [member] | ||||
Disclosure of financial assets [line items] | ||||
Loans originated by microloan lending companies and consumer finance company | 30,109,705 | 12,587,586 | ||
Financial instruments not credit-impaired [member] | 12-month expected credit losses [member] | Loans and receivables, category [member] | ||||
Less: Provision for impairment losses | ||||
Allowance account for credit losses of financial assets | (4,481,912) | (1,860,245) | ||
Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | Loans and receivables, category [member] | ||||
Less: Provision for impairment losses | ||||
Allowance account for credit losses of financial assets | (1,197,126) | (312,280) | ||
Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Loans and receivables, category [member] | ||||
Less: Provision for impairment losses | ||||
Allowance account for credit losses of financial assets | ¥ (1,383,940) | ¥ (581,346) |
Loans To Customers - Summary o
Loans To Customers - Summary of Loans To Customers (Parenthetical) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of financial assets [line items] | ||
Loans to customers | ¥ 211,446,645 | ¥ 214,972,110 |
Credit insurance | ||
Disclosure of financial assets [line items] | ||
Loans to customers | ¥ 142,966,000 | ¥ 162,417,000 |
Loans To Customers - Summary _2
Loans To Customers - Summary of Movement In Loans To Customers (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | ¥ 342,848,611 | ||
Ending balance | 331,401,433 | ¥ 342,848,611 | |
Loans and receivables, category [member] | Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 217,725,981 | 120,815,019 | ¥ 48,749,826 |
New loans originated | 215,834,125 | 234,198,681 | 141,924,691 |
Loans de-recognized and other adjustments in the current period (including repayments of loans) | (212,037,261) | (136,440,336) | (68,678,186) |
Write-offs | (3,013,222) | (847,383) | (1,181,312) |
Ending balance | 218,509,623 | 217,725,981 | 120,815,019 |
Loans and receivables, category [member] | Gross carrying amount [member] | Financial instruments not credit-impaired [member] | 12-month expected credit losses [member] | Stage 1 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 215,525,406 | 119,568,582 | 47,052,175 |
New loans originated | 215,834,125 | 234,198,681 | 141,924,691 |
Transfers | (17,245,234) | (5,530,212) | (2,124,274) |
Loans de-recognized and other adjustments in the current period (including repayments of loans) | (201,023,209) | (132,711,645) | (67,284,010) |
Ending balance | 213,091,088 | 215,525,406 | 119,568,582 |
Loans and receivables, category [member] | Gross carrying amount [member] | Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | Stage 2 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 1,576,245 | 839,817 | 324,440 |
Transfers | 13,239,242 | 4,439,585 | 1,713,887 |
Loans de-recognized and other adjustments in the current period (including repayments of loans) | (10,854,775) | (3,703,157) | (1,198,510) |
Ending balance | 3,960,712 | 1,576,245 | 839,817 |
Loans and receivables, category [member] | Gross carrying amount [member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Stage 3 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | 624,330 | 406,620 | 1,373,211 |
Transfers | 4,005,992 | 1,090,627 | 410,387 |
Loans de-recognized and other adjustments in the current period (including repayments of loans) | (159,277) | (25,534) | (195,666) |
Write-offs | (3,013,222) | (847,383) | (1,181,312) |
Ending balance | 1,457,823 | 624,330 | 406,620 |
Loans and receivables, category [member] | Gross carrying amount [member] | — From stage 1 to stage 2 | Financial instruments not credit-impaired [member] | 12-month expected credit losses [member] | Stage 1 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (17,540,156) | (5,579,855) | (1,806,096) |
Loans and receivables, category [member] | Gross carrying amount [member] | — From stage 1 to stage 2 | Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | Stage 2 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 17,540,156 | 5,579,855 | 1,806,096 |
Loans and receivables, category [member] | Gross carrying amount [member] | — From stage 1 to stage 3 | Financial instruments not credit-impaired [member] | 12-month expected credit losses [member] | Stage 1 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (324,045) | ||
Loans and receivables, category [member] | Gross carrying amount [member] | — From stage 1 to stage 3 | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Stage 3 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 324,045 | ||
Loans and receivables, category [member] | Gross carrying amount [member] | — From stage 2 to stage 1 | Financial instruments not credit-impaired [member] | 12-month expected credit losses [member] | Stage 1 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 294,922 | 49,643 | 5,867 |
Loans and receivables, category [member] | Gross carrying amount [member] | — From stage 2 to stage 1 | Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | Stage 2 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (294,922) | (49,643) | (5,867) |
Loans and receivables, category [member] | Gross carrying amount [member] | — From stage 2 to stage 3 | Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | Stage 2 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (4,015,845) | (1,091,109) | (98,355) |
Loans and receivables, category [member] | Gross carrying amount [member] | — From stage 2 to stage 3 | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Stage 3 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 4,015,845 | 1,091,109 | 98,355 |
Loans and receivables, category [member] | Gross carrying amount [member] | — From stage 3 to stage 2 | Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | Stage 2 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 9,853 | 482 | 12,013 |
Loans and receivables, category [member] | Gross carrying amount [member] | — From stage 3 to stage 2 | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Stage 3 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (9,853) | (482) | (12,013) |
Loans and receivables, category [member] | Accumulated Impairment [Member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | (2,753,871) | (989,205) | (1,251,314) |
New loans originated | 1,609,220 | 1,346,940 | 373,266 |
Transfers | 1,378,729 | 395,436 | 484,471 |
Net impact on expected credit loss by stage transfers | 1,378,729 | 395,436 | 484,471 |
Loans de-recognized and other adjustments in the current period (including repayments of loans) | (2,324,959) | (1,217,786) | (412,323) |
Change in parameters of expected credit loss model | 6,512,399 | 1,916,521 | 299,479 |
Write-offs | (3,013,222) | (847,383) | (1,181,312) |
Recovery of loans written off previously | 146,940 | 170,938 | 174,310 |
Ending balance | (7,062,978) | (2,753,871) | (989,205) |
Loans and receivables, category [member] | Accumulated Impairment [Member] | Financial instruments not credit-impaired [member] | 12-month expected credit losses [member] | Stage 1 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | (1,860,245) | (480,854) | (136,396) |
New loans originated | 1,609,220 | 1,346,940 | 373,266 |
Transfers | (3,550,516) | (1,104,156) | (107,551) |
Net impact on expected credit loss by stage transfers | (30,717) | (11,260) | (3,066) |
Loans de-recognized and other adjustments in the current period (including repayments of loans) | (1,707,206) | (622,468) | (203,494) |
Change in parameters of expected credit loss model | 6,270,169 | 1,759,075 | 282,237 |
Ending balance | (4,481,912) | (1,860,245) | (480,854) |
Loans and receivables, category [member] | Accumulated Impairment [Member] | Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | Stage 2 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | (312,280) | (195,339) | (53,258) |
Transfers | 1,088,799 | 454,235 | 213,807 |
Net impact on expected credit loss by stage transfers | 1,135,381 | 361,096 | 164,932 |
Loans de-recognized and other adjustments in the current period (including repayments of loans) | (403,559) | (470,524) | (89,632) |
Change in parameters of expected credit loss model | 199,606 | 133,230 | 17,906 |
Ending balance | (1,197,126) | (312,280) | (195,339) |
Loans and receivables, category [member] | Accumulated Impairment [Member] | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Stage 3 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Beginning balance | (581,346) | (313,012) | (1,061,660) |
Transfers | 3,840,446 | 1,045,357 | 378,215 |
Net impact on expected credit loss by stage transfers | 274,065 | 45,600 | 322,605 |
Loans de-recognized and other adjustments in the current period (including repayments of loans) | (214,194) | (124,794) | (119,197) |
Change in parameters of expected credit loss model | 42,624 | 24,216 | (664) |
Write-offs | (3,013,222) | (847,383) | (1,181,312) |
Recovery of loans written off previously | 146,940 | 170,938 | 174,310 |
Ending balance | (1,383,940) | (581,346) | (313,012) |
Loans and receivables, category [member] | Accumulated Impairment [Member] | — From stage 1 to stage 2 | Financial instruments not credit-impaired [member] | 12-month expected credit losses [member] | Stage 1 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (3,573,960) | (1,109,405) | (101,324) |
Loans and receivables, category [member] | Accumulated Impairment [Member] | — From stage 1 to stage 2 | Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | Stage 2 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 3,573,960 | 1,109,405 | 101,324 |
Loans and receivables, category [member] | Accumulated Impairment [Member] | — From stage 1 to stage 3 | Financial instruments not credit-impaired [member] | 12-month expected credit losses [member] | Stage 1 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (7,322) | ||
Loans and receivables, category [member] | Accumulated Impairment [Member] | — From stage 1 to stage 3 | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Stage 3 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 7,322 | ||
Loans and receivables, category [member] | Accumulated Impairment [Member] | — From stage 2 to stage 1 | Financial instruments not credit-impaired [member] | 12-month expected credit losses [member] | Stage 1 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 54,161 | 16,509 | 4,161 |
Loans and receivables, category [member] | Accumulated Impairment [Member] | — From stage 2 to stage 1 | Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | Stage 2 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (54,161) | (16,509) | (4,161) |
Loans and receivables, category [member] | Accumulated Impairment [Member] | — From stage 2 to stage 3 | Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | Stage 2 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | (3,575,710) | (1,000,215) | (49,632) |
Loans and receivables, category [member] | Accumulated Impairment [Member] | — From stage 2 to stage 3 | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Stage 3 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 3,575,710 | 1,000,215 | 49,632 |
Loans and receivables, category [member] | Accumulated Impairment [Member] | — From stage 3 to stage 2 | Financial instruments not credit-impaired [member] | Lifetime expected credit losses [member] | Stage 2 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | 9,329 | 458 | 1,344 |
Loans and receivables, category [member] | Accumulated Impairment [Member] | — From stage 3 to stage 2 | Financial instruments credit-impaired [member] | Lifetime expected credit losses [member] | Stage 3 [member] | |||
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |||
Transfers | ¥ (9,329) | ¥ (458) | ¥ (1,344) |
Loans To Customers - Summary _3
Loans To Customers - Summary of Movement In Loans To Customers (Parenthetical) (Detail) ¥ in Millions | Dec. 31, 2022 CNY (¥) |
Loans and receivables, category [member] | |
Disclosure of reconciliation of changes in loss allowance and explanation of changes in gross carrying amount for financial instruments [line items] | |
Loans to customers amounting | ¥ 3,013 |
Deferred Tax Assets And Defer_3
Deferred Tax Assets And Deferred Tax Liabilities - Summary of Deferred Income assets And Liabilities Net (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Deferred tax assets and liabilities [abstract] | ||
Deferred tax assets | ¥ 4,990,352 | ¥ 4,873,370 |
Deferred tax liabilities | (694,090) | (833,694) |
Net amount | ¥ 4,296,262 | ¥ 4,039,676 |
Deferred Tax Assets And Defer_4
Deferred Tax Assets And Deferred Tax Liabilities - Summary of Deferred Tax Assets (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Deferred Tax Assets Gross [Line Items] | ||
Deferred Tax Assets Gross | ¥ 5,249,520 | ¥ 4,936,586 |
Provision for asset impairments [Member] | ||
Disclosure Of Deferred Tax Assets Gross [Line Items] | ||
Deferred Tax Assets Gross | 1,303,345 | 986,943 |
Guarantee liabilities [Member] | ||
Disclosure Of Deferred Tax Assets Gross [Line Items] | ||
Deferred Tax Assets Gross | 1,440,842 | 674,277 |
Revenue recognition differences between accounting and tax book [Member] | ||
Disclosure Of Deferred Tax Assets Gross [Line Items] | ||
Deferred Tax Assets Gross | 1,252,255 | 1,635,551 |
Employee benefit payables [Member] | ||
Disclosure Of Deferred Tax Assets Gross [Line Items] | ||
Deferred Tax Assets Gross | 483,747 | 751,926 |
Accrued expenses and provisions [Member] | ||
Disclosure Of Deferred Tax Assets Gross [Line Items] | ||
Deferred Tax Assets Gross | 355,999 | 489,544 |
Deductible tax losses [Member] | ||
Disclosure Of Deferred Tax Assets Gross [Line Items] | ||
Deferred Tax Assets Gross | 217,501 | 194,627 |
Changes in fair value [Member] | ||
Disclosure Of Deferred Tax Assets Gross [Line Items] | ||
Deferred Tax Assets Gross | 170,471 | 140,242 |
Others [Member] | ||
Disclosure Of Deferred Tax Assets Gross [Line Items] | ||
Deferred Tax Assets Gross | ¥ 25,360 | ¥ 63,476 |
Deferred Tax Assets And Defer_5
Deferred Tax Assets And Deferred Tax Liabilities - Summary of Deductible Temporary Differences And Deductible Losses That Are Not Recognized as Deferred Tax Assets (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Deductible temporary differences | ¥ 3,792,705 | ¥ 2,720,263 |
Deductible losses | 2,135,395 | 2,432,434 |
Deferred Tax Asset Not Yet Recognised | ¥ 5,928,100 | ¥ 5,152,697 |
Deferred Tax Assets And Defer_6
Deferred Tax Assets And Deferred Tax Liabilities - Summary Of Deductible Losses That Are Not Recognized As Deferred Tax Assets Expiration (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total deferred tax assets | ¥ 2,135,395 | ¥ 2,432,434 |
2022 | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total deferred tax assets | 6,149 | 7,433 |
2023 | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total deferred tax assets | 120,824 | 124,678 |
2024 | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total deferred tax assets | 310,412 | 365,455 |
2025 | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total deferred tax assets | 158,783 | 71,574 |
2026 | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total deferred tax assets | 33,382 | 169,894 |
2027 | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total deferred tax assets | 263,800 | |
No due date | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Total deferred tax assets | ¥ 1,242,045 | ¥ 1,693,400 |
Deferred Tax Assets And Defer_7
Deferred Tax Assets And Deferred Tax Liabilities- Summary of Movements In Deferred Tax Asset (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Deductible tax losses | |||
Disclosure Of movements In Deferred Tax Assets [Line Items] | |||
Beginning balance | ¥ 194,627 | ¥ 581,325 | ¥ 1,047,234 |
Credited/(charged) - to profit or loss | 22,874 | (386,698) | (465,909) |
Ending balance | 217,501 | 194,627 | 581,325 |
Provision for asset impairments | |||
Disclosure Of movements In Deferred Tax Assets [Line Items] | |||
Beginning balance | 986,943 | 1,368,693 | 939,239 |
Credited/(charged) - to profit or loss | 316,402 | (381,750) | 429,454 |
Ending balance | 1,303,345 | 986,943 | 1,368,693 |
Employee benefit payables | |||
Disclosure Of movements In Deferred Tax Assets [Line Items] | |||
Beginning balance | 751,926 | 626,048 | 563,567 |
Credited/(charged) - to profit or loss | (268,179) | 125,878 | 62,481 |
Ending balance | 483,747 | 751,926 | 626,048 |
Accrued expenses | |||
Disclosure Of movements In Deferred Tax Assets [Line Items] | |||
Beginning balance | 489,544 | 528,660 | 430,965 |
Credited/(charged) - to profit or loss | (133,545) | (39,116) | 97,695 |
Ending balance | 355,999 | 489,544 | 528,660 |
Guarantee liabilities | |||
Disclosure Of movements In Deferred Tax Assets [Line Items] | |||
Beginning balance | 674,277 | 187,169 | 60,687 |
Credited/(charged) - to profit or loss | 766,565 | 487,108 | 126,482 |
Ending balance | 1,440,842 | 674,277 | 187,169 |
Revenue recognition differences between accounting and tax book [Member] | |||
Disclosure Of movements In Deferred Tax Assets [Line Items] | |||
Beginning balance | 1,635,551 | ||
Credited/(charged) - to profit or loss | (383,296) | 1,635,551 | |
Ending balance | 1,252,255 | 1,635,551 | |
Others (Include changes in fair value ) | |||
Disclosure Of movements In Deferred Tax Assets [Line Items] | |||
Beginning balance | 203,718 | 269,030 | 148,864 |
Credited/(charged) - to profit or loss | (7,887) | (65,312) | 120,166 |
Ending balance | 195,831 | 203,718 | 269,030 |
Deferred Tax Assets | |||
Disclosure Of movements In Deferred Tax Assets [Line Items] | |||
Beginning balance | 4,936,586 | 3,560,925 | 3,190,556 |
Credited/(charged) - to profit or loss | 312,934 | 1,375,661 | 370,369 |
Ending balance | ¥ 5,249,520 | ¥ 4,936,586 | ¥ 3,560,925 |
Deferred Tax Assets And Defer_8
Deferred Tax Assets And Deferred Tax Liabilities - Summary of Deferred Tax Liabilities (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Deferred Tax Liabilities Gross [Line Items] | ||
Revenue recognition | ¥ 953,258 | ¥ 896,910 |
Unrealized consolidated earnings [Member] | ||
Disclosure Of Deferred Tax Liabilities Gross [Line Items] | ||
Revenue recognition | 672,661 | 576,472 |
Intangible assets arisen from business combination [Member] | ||
Disclosure Of Deferred Tax Liabilities Gross [Line Items] | ||
Revenue recognition | 211,565 | 211,565 |
Changes in fair value [Member] | ||
Disclosure Of Deferred Tax Liabilities Gross [Line Items] | ||
Revenue recognition | 57,471 | 77,271 |
Effective interest adjustment [Member] | ||
Disclosure Of Deferred Tax Liabilities Gross [Line Items] | ||
Revenue recognition | 0 | 18,045 |
Revenue recognition differences between accounting and tax book [Member] | ||
Disclosure Of Deferred Tax Liabilities Gross [Line Items] | ||
Revenue recognition | 0 | 0 |
Others [Member] | ||
Disclosure Of Deferred Tax Liabilities Gross [Line Items] | ||
Revenue recognition | ¥ 11,561 | ¥ 13,557 |
Deferred Tax Assets And Defer_9
Deferred Tax Assets And Deferred Tax Liabilities - Summary of Movements In Deferred Tax Liabilities (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenue recognition differences between accounting and tax book | |||
Disclosure Of movements In Deferred Tax Liabilities [Line Items] | |||
Beginning balance | ¥ 4,157,984 | ¥ 4,476,834 | |
Credited/(charged) - to profit or loss | (4,157,984) | (318,850) | |
Ending balance | 4,157,984 | ||
Intangible assets arisen from business combination | |||
Disclosure Of movements In Deferred Tax Liabilities [Line Items] | |||
Beginning balance | ¥ 211,565 | 452,258 | 452,258 |
Credited/(charged) - to profit or loss | (240,693) | 0 | |
Ending balance | 211,565 | 211,565 | 452,258 |
Unrealized consolidated earnings | |||
Disclosure Of movements In Deferred Tax Liabilities [Line Items] | |||
Beginning balance | 576,472 | 434,850 | 295,637 |
Credited/(charged) - to profit or loss | 96,189 | 141,622 | 139,213 |
Ending balance | 672,661 | 576,472 | 434,850 |
Effective interest adjustment | |||
Disclosure Of movements In Deferred Tax Liabilities [Line Items] | |||
Beginning balance | 18,045 | 862,035 | 260,671 |
Credited/(charged) - to profit or loss | (18,045) | (843,990) | 601,364 |
Ending balance | 18,045 | 862,035 | |
Changes in fair value | |||
Disclosure Of movements In Deferred Tax Liabilities [Line Items] | |||
Beginning balance | 77,271 | 20,469 | 16,956 |
Credited/(charged) - to profit or loss | (19,800) | 56,802 | 3,513 |
Ending balance | 57,471 | 77,271 | 20,469 |
Others | |||
Disclosure Of movements In Deferred Tax Liabilities [Line Items] | |||
Beginning balance | 13,557 | 8,398 | 16 |
Credited/(charged) - to profit or loss | (1,996) | 5,159 | 8,382 |
Ending balance | 11,561 | 13,557 | 8,398 |
Total | |||
Disclosure Of movements In Deferred Tax Liabilities [Line Items] | |||
Beginning balance | 896,910 | 5,935,994 | 5,502,372 |
Credited/(charged) - to profit or loss | 56,348 | (5,039,084) | 433,622 |
Ending balance | ¥ 953,258 | ¥ 896,910 | ¥ 5,935,994 |
Deferred Tax Assets And Defe_10
Deferred Tax Assets And Deferred Tax Liabilities - Summary of Net Balances of Deferred Tax Assets (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Text block [abstract] | ||
Deferred Tax Assets Offset Amount | ¥ (259,168) | ¥ (63,216) |
Deferred tax assets, Balance after offsetting | 4,990,352 | 4,873,370 |
Deferred Tax Liabilities, Offset Amount | 259,168 | 63,216 |
Deferred tax liabilities, Balance after offsetting | ¥ (694,090) | ¥ (833,694) |
Property And Equipment- Schedul
Property And Equipment- Schedule of Property And Equipment (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | ¥ 380,081 | ¥ 424,043 | ¥ 517,237 |
Additions | 126,015 | 156,616 | 148,295 |
Disposals | (5,798) | (7,067) | (14,627) |
Depreciation charge | (177,799) | (193,511) | (226,862) |
Ending balance | 322,499 | 380,081 | 424,043 |
Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 1,476,529 | 1,405,928 | 1,351,733 |
Ending balance | 1,518,824 | 1,476,529 | 1,405,928 |
Accumulated depreciation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (1,096,448) | (981,885) | (834,496) |
Ending balance | (1,196,325) | (1,096,448) | (981,885) |
Buildings, office and electrical equipment, motor vehicles [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 213,939 | 247,108 | 296,965 |
Additions | 44,915 | 65,971 | 61,403 |
Disposals | (4,601) | (6,676) | (14,463) |
Depreciation charge | (74,057) | (92,464) | (96,797) |
Ending balance | 180,196 | 213,939 | 247,108 |
Buildings, office and electrical equipment, motor vehicles [member] | Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 626,583 | 601,764 | 590,724 |
Ending balance | 602,743 | 626,583 | 601,764 |
Buildings, office and electrical equipment, motor vehicles [member] | Accumulated depreciation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (412,644) | (354,656) | (293,759) |
Ending balance | (422,547) | (412,644) | (354,656) |
Leasehold improvements [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 166,142 | 176,935 | 220,272 |
Additions | 81,100 | 90,645 | 86,892 |
Disposals | (1,197) | (391) | (164) |
Depreciation charge | (103,742) | (101,047) | (130,065) |
Ending balance | 142,303 | 166,142 | 176,935 |
Leasehold improvements [member] | Cost [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | 849,946 | 804,164 | 761,009 |
Ending balance | 916,081 | 849,946 | 804,164 |
Leasehold improvements [member] | Accumulated depreciation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning balance | (683,804) | (627,229) | (540,737) |
Ending balance | ¥ (773,778) | ¥ (683,804) | ¥ (627,229) |
Intangible Assets - Summary of
Intangible Assets - Summary of Intangible Assets (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | ¥ 899,406 | ¥ 1,882,462 | ¥ 1,896,575 |
Additions | 2,134 | 3,126 | 17,718 |
Disposals | (756) | ||
Impairment | (403) | (963,948) | |
Amortization charge | (15,325) | (22,234) | (31,831) |
Ending balance | 885,056 | 899,406 | 1,882,462 |
Cost [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 2,073,765 | 2,070,639 | 2,449,433 |
Ending balance | 1,642,721 | 2,073,765 | 2,070,639 |
Accumulated amortization [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | (146,202) | (123,968) | (488,649) |
Ending balance | (155,105) | (146,202) | (123,968) |
Accumulated Impairment [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | (1,028,157) | (64,209) | (64,209) |
Ending balance | (602,560) | (1,028,157) | (64,209) |
Trademarks and licenses [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 846,628 | 1,810,576 | 1,810,576 |
Impairment | 0 | (963,948) | 0 |
Ending balance | 846,628 | 846,628 | 1,810,576 |
Trademarks and licenses [member] | Cost [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 1,815,576 | 1,815,576 | 1,815,576 |
Ending balance | 1,389,576 | 1,815,576 | 1,815,576 |
Trademarks and licenses [member] | Accumulated amortization [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | (5,000) | (5,000) | (5,000) |
Ending balance | (5,000) | (5,000) | (5,000) |
Trademarks and licenses [member] | Accumulated Impairment [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | (963,948) | ||
Ending balance | (537,948) | (963,948) | |
Computer software [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 52,778 | 71,886 | 85,999 |
Additions | 2,134 | 3,126 | 17,718 |
Disposals | (756) | ||
Impairment | (403) | ||
Amortization charge | (15,325) | (22,234) | (31,831) |
Ending balance | 38,428 | 52,778 | 71,886 |
Computer software [member] | Cost [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | 258,189 | 255,063 | 633,857 |
Ending balance | 253,145 | 258,189 | 255,063 |
Computer software [member] | Accumulated amortization [member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | (141,202) | (118,968) | (483,649) |
Ending balance | (150,105) | (141,202) | (118,968) |
Computer software [member] | Accumulated Impairment [Member] | |||
Disclosure of detailed information about intangible assets [line items] | |||
Beginning balance | (64,209) | (64,209) | (64,209) |
Ending balance | ¥ (64,612) | ¥ (64,209) | ¥ (64,209) |
Intangible Assets - Summary o_2
Intangible Assets - Summary of Key Assumptions Used for Value-in-use Calculations (Detail) - Intangible assets other than goodwill [member] | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Pre-tax discount rates [member] | |||
Disclosure Of Detailed Information Of Key Assumptions Used For Value In Use [Line Items] | |||
Discount rate used in current estimate of value in use | 26% | 26% | |
Pre-tax discount rates [member] | Bottom of range [member] | |||
Disclosure Of Detailed Information Of Key Assumptions Used For Value In Use [Line Items] | |||
Discount rate used in current estimate of value in use | 21% | ||
Pre-tax discount rates [member] | Top of range [member] | |||
Disclosure Of Detailed Information Of Key Assumptions Used For Value In Use [Line Items] | |||
Discount rate used in current estimate of value in use | 25% | ||
Revenue growth rates [member] | Bottom of range [member] | |||
Disclosure Of Detailed Information Of Key Assumptions Used For Value In Use [Line Items] | |||
Discount rate used in current estimate of value in use | (47.00%) | 3% | 3% |
Revenue growth rates [member] | Top of range [member] | |||
Disclosure Of Detailed Information Of Key Assumptions Used For Value In Use [Line Items] | |||
Discount rate used in current estimate of value in use | 58% | 8% | 275% |
Long term growth rate [member] | |||
Disclosure Of Detailed Information Of Key Assumptions Used For Value In Use [Line Items] | |||
Discount rate used in current estimate of value in use | 2% | 3% | 3% |
Intangible Assets - Summary o_3
Intangible Assets - Summary of Recoverable Amount of Cash Generating Units Exceeding Carrying Amount (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Puhui Trademark [member] | Intangible assets other than goodwill [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Recoverable amount of the CGU exceeded its carrying amount | ¥ 4,761,332 | ¥ 3,795,189 | ¥ 3,895,059 |
Intangible Assets - Summary o_4
Intangible Assets - Summary of Possible Changes of Key Assumptions of Cash Generating Units (Detail) - Intangible assets other than goodwill [member] - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Revenue growth rate decrease by 5% [member] | |||
Disclosure Of Detailed Information Of Possible Changes Of Key Assumptions Of Cash Generating Units [Line Items] | |||
Possible changes of key assumptions | ¥ 4,524,074 | ¥ 3,711,922 | ¥ 3,772,487 |
Pre-tax discount rate plus 1% [member] | |||
Disclosure Of Detailed Information Of Possible Changes Of Key Assumptions Of Cash Generating Units [Line Items] | |||
Possible changes of key assumptions | ¥ 4,428,832 | ¥ 3,597,045 | ¥ 3,690,604 |
Intangible Assets - Summary o_5
Intangible Assets - Summary of Possible Changes of Key Assumptions of Cash Generating Units (Parenthetical) (Detail) | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Detailed Information Of Possible Changes Of Key Assumptions Of Cash Generating Units [Line Items] | |||
Percentage of reasonably possible decrease in unobservable input, assets | 100% | 100% | 100% |
Percentage of reasonably possible increase in unobservable input, assets | 100% | 100% | 100% |
Revenue growth rate decrease by 5% [member] | Intangible assets other than goodwill [member] | |||
Disclosure Of Detailed Information Of Possible Changes Of Key Assumptions Of Cash Generating Units [Line Items] | |||
Percentage of reasonably possible decrease in unobservable input, assets | 5% | 5% | 5% |
Pre-tax discount rate plus 1% [member] | Intangible assets other than goodwill [member] | |||
Disclosure Of Detailed Information Of Possible Changes Of Key Assumptions Of Cash Generating Units [Line Items] | |||
Percentage of reasonably possible increase in unobservable input, assets | 1% | 1% | 1% |
Intangible Assets - Additional
Intangible Assets - Additional Information (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Information For Individual Asset Or Cash Generating Unit With Significant Amount Of Intangible Assets With Indefinite Useful Lives [Line Items] | |||
impairment losses, intangible assets | ¥ (403) | ¥ (963,948) | |
Trademarks and licenses [member] | |||
Disclosure Of Information For Individual Asset Or Cash Generating Unit With Significant Amount Of Intangible Assets With Indefinite Useful Lives [Line Items] | |||
impairment losses, intangible assets | 0 | ¥ (963,948) | ¥ 0 |
Puhui Trademark [member] | |||
Disclosure Of Information For Individual Asset Or Cash Generating Unit With Significant Amount Of Intangible Assets With Indefinite Useful Lives [Line Items] | |||
Trademark rights | ¥ 800,700 |
Leases - Summary of Amounts Rel
Leases - Summary of Amounts Related To Leases (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about amounts related to leases [Line Items] | ||||
Properties | ¥ 754,010 | ¥ 804,990 | ||
Lease liabilities | 748,807 | 794,544 | ||
Right-of-use assets [member] | ||||
Disclosure of detailed information about amounts related to leases [Line Items] | ||||
Properties | 754,010 | 804,990 | ¥ 973,547 | ¥ 914,960 |
Lease liabilities | ¥ 748,807 | ¥ 794,544 |
Leases - Summary of Depreciatio
Leases - Summary of Depreciation Charge of Right of Use Assets (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Quantitative Information About Depreciation Charge Of Right Of Use Assets [Line Items] | |||
Depreciation charge of right-of-use assets | ¥ 578,014 | ¥ 608,889 | ¥ 604,018 |
Interest expense (included in finance costs) | 41,402 | 38,709 | 46,567 |
Right-of-use assets [member] | |||
Disclosure Of Quantitative Information About Depreciation Charge Of Right Of Use Assets [Line Items] | |||
Depreciation charge of right-of-use assets | 578,014 | 608,889 | 604,018 |
Interest expense (included in finance costs) | 41,402 | 38,709 | 46,567 |
Expense relating to short-term leases (included in operation and servicing expenses; general and administrative expenses; technology and analytics expenses; and sales and marketing expenses) | 37,376 | 55,408 | 115,741 |
Expense relating to leases of low-value assets (included in operation and servicing expenses; general and administrative expenses; technology and analytics expenses; and sales and marketing expenses) | ¥ 25,548 | ¥ 25,550 | ¥ 26,684 |
Leases - Additional Information
Leases - Additional Information (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Text block [abstract] | |||
Total cash outflow for leases | ¥ 694 | ¥ 713 | ¥ 794 |
Leases - Disclosure Of Quantita
Leases - Disclosure Of Quantitative Information About Right Of Use Assets (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of quantitative information about right-of-use assets [line items] | |||
Opening net book amount | ¥ 804,990 | ||
Depreciation charge | (578,014) | ¥ (608,889) | ¥ (604,018) |
Closing net book amount | 754,010 | 804,990 | |
Right-of-use assets [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Opening net book amount | 804,990 | 973,547 | 914,960 |
Additions | 589,488 | 501,663 | 697,403 |
Early termination | (62,454) | (61,331) | (34,798) |
Depreciation charge | (578,014) | (608,889) | (604,018) |
Closing net book amount | 754,010 | 804,990 | 973,547 |
Cost [member] | Right-of-use assets [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Opening net book amount | 1,500,951 | 1,810,222 | |
Closing net book amount | 1,500,951 | 1,810,222 | |
Accumulated depreciation | Right-of-use assets [member] | |||
Disclosure of quantitative information about right-of-use assets [line items] | |||
Opening net book amount | ¥ (746,941) | (1,005,232) | |
Closing net book amount | ¥ (746,941) | ¥ (1,005,232) |
Goodwill - Additional Informati
Goodwill - Additional Information (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of information for cash-generating units [line items] | |||
Impairment loss recognised in profit or loss, goodwill | ¥ 6.7 | ¥ 129 | ¥ 0 |
Growth Rate [Member] | |||
Disclosure of information for cash-generating units [line items] | |||
Impairment loss recognised in profit or loss, goodwill | ¥ 126 |
Goodwill - Disclosure Of Reconc
Goodwill - Disclosure Of Reconciliation Of Changes In Goodwill (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of reconciliation of changes in goodwill [line items] | |||
Goodwill | ¥ 8,918,108 | ¥ 9,046,830 | ¥ 9,046,830 |
Additional recognition, goodwill | (6,663) | (128,722) | 0 |
Goodwill | 8,911,445 | 8,918,108 | 9,046,830 |
Gross carrying amount [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Goodwill | 9,117,382 | 9,117,382 | 9,117,382 |
Additional recognition, goodwill | 0 | 0 | |
Decrease through classified as held for sale, goodwill | (129,007) | ||
Goodwill | 8,988,375 | 9,117,382 | 9,117,382 |
Gross carrying amount [member] | Puhui [Member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Goodwill | 8,911,445 | 8,911,445 | 8,911,445 |
Goodwill | 8,911,445 | 8,911,445 | 8,911,445 |
Gross carrying amount [member] | Tianjin Guarantee [Member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Goodwill | 126,207 | 126,207 | 126,207 |
Decrease through classified as held for sale, goodwill | (126,207) | ||
Goodwill | 126,207 | 126,207 | |
Gross carrying amount [member] | Pingan Jixin [Member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Goodwill | 67,752 | 67,752 | 67,752 |
Goodwill | 67,752 | 67,752 | 67,752 |
Gross carrying amount [member] | Lu International Hong Kong Limited [Member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Goodwill | 6,663 | 6,663 | 6,663 |
Goodwill | 6,663 | 6,663 | 6,663 |
Gross carrying amount [member] | Yunque Dongfang [Member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Goodwill | 2,800 | 2,800 | 2,800 |
Decrease through classified as held for sale, goodwill | (2,800) | ||
Goodwill | 2,800 | 2,800 | |
Gross carrying amount [member] | Jinniu Loan [Member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Goodwill | 2,515 | 2,515 | 2,515 |
Goodwill | 2,515 | 2,515 | 2,515 |
Impairment Loss [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Goodwill | (199,274) | (70,552) | (70,552) |
Additional recognition, goodwill | (6,663) | (128,722) | |
Decrease through classified as held for sale, goodwill | 129,007 | ||
Goodwill | ¥ (76,930) | ¥ (199,274) | ¥ (70,552) |
Goodwill - Summary of Key Assum
Goodwill - Summary of Key Assumptions Used for Value-in-use Calculations (Detail) - Goodwill [member] | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Pre-tax discount rates [member] | |||
Disclosure Of Detailed Information Of Key Assumptions Used For Value In Use [Line Items] | |||
Discount rate used in current estimate of value in use | 19% | 27% | |
Pre-tax discount rates [member] | Bottom of range [member] | |||
Disclosure Of Detailed Information Of Key Assumptions Used For Value In Use [Line Items] | |||
Discount rate used in current estimate of value in use | 24% | ||
Pre-tax discount rates [member] | Top of range [member] | |||
Disclosure Of Detailed Information Of Key Assumptions Used For Value In Use [Line Items] | |||
Discount rate used in current estimate of value in use | 27% | ||
Revenue growth rates [member] | Bottom of range [member] | |||
Disclosure Of Detailed Information Of Key Assumptions Used For Value In Use [Line Items] | |||
Discount rate used in current estimate of value in use | (22.00%) | 3% | 3% |
Revenue growth rates [member] | Top of range [member] | |||
Disclosure Of Detailed Information Of Key Assumptions Used For Value In Use [Line Items] | |||
Discount rate used in current estimate of value in use | 30% | 8% | 275% |
Long term growth rate [member] | |||
Disclosure Of Detailed Information Of Key Assumptions Used For Value In Use [Line Items] | |||
Discount rate used in current estimate of value in use | 2% | 3% | 3% |
Goodwill - Summary of Recoverab
Goodwill - Summary of Recoverable Amount of Cash Generating Units Exceeding Carrying Amount (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Puhui [member] | Goodwill [member] | |||
Disclosure of information for cash-generating units [line items] | |||
Recoverable amount of the CGU exceeded its carrying amount | ¥ 31,032,688 | ¥ 46,780,343 | ¥ 58,347,954 |
Goodwill - Summary of Possible
Goodwill - Summary of Possible Changes of Key Assumptions of Cash Generating Units (Detail) - Goodwill [member] - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Revenue growth rate decrease by 5% [member] | |||
Disclosure Of Detailed Information Of Possible Changes Of Key Assumptions Of Cash Generating Units [Line Items] | |||
Recoverable amount of the CGU exceeded its carrying amount | ¥ 12,785,375 | ¥ 45,153,184 | ¥ 51,446,124 |
Pre-tax discount rate plus 1% [member] | |||
Disclosure Of Detailed Information Of Possible Changes Of Key Assumptions Of Cash Generating Units [Line Items] | |||
Recoverable amount of the CGU exceeded its carrying amount | ¥ 25,826,383 | ¥ 43,239,361 | ¥ 54,371,643 |
Goodwill - Summary of Recover_2
Goodwill - Summary of Recoverable Amount of Cash Generating Units Exceeding Carrying Amount (Parenthetical) (Detail) | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Detailed Information Of Possible Changes Of Key Assumptions Of Cash Generating Units [Line Items] | |||
Percentage of reasonably possible decrease in unobservable input, assets | 100% | 100% | 100% |
Revenue growth rate decrease by 5% [member] | Goodwill [member] | |||
Disclosure Of Detailed Information Of Possible Changes Of Key Assumptions Of Cash Generating Units [Line Items] | |||
Percentage of reasonably possible decrease in unobservable input, assets | 5% | 5% | 5% |
Pre-tax discount rate plus 1% [member] | Goodwill [member] | |||
Disclosure Of Detailed Information Of Possible Changes Of Key Assumptions Of Cash Generating Units [Line Items] | |||
Percentage of reasonably possible decrease in unobservable input, assets | 1% | 1% | 1% |
Other Assets - Summary of Detai
Other Assets - Summary of Detailed Information About Other Assets (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Detailed Information About Other Assets [Abstract] | ||
Prepaid income tax and value-added tax | ¥ 697,820 | ¥ 553,938 |
Recoverable value-added tax | 646,257 | 500,436 |
Derivative financial assets | 447,443 | 38,403 |
Prepayments | 101,879 | 114,380 |
Repossessed assets | 30,077 | 37,085 |
Deferred expenses | 29,277 | 24,133 |
Others | 30,536 | 12,210 |
Other assets gross | 1,983,289 | 1,280,585 |
Less: Provisions for impairment | (24,548) | (31,161) |
Other assets | ¥ 1,958,741 | ¥ 1,249,424 |
Other Assets - Summary of Det_2
Other Assets - Summary of Detailed Information About Interest Rate Swaps (Detail) - Interest rate swap [member] ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Disclosure of financial instruments by type of interest rate [line items] | ||||
Financial assets | ¥ | ¥ 222,086 | ¥ 38,403 | ||
Notional amount | $ | $ 1,290,000 | $ 1,290,000 | ||
Maturity date | May 18, 2023 | May 18, 2023 | ||
Pay type | Fixed | Fixed | ||
Receive type | 1 month | 1 month |
Other Assets - Summary of Det_3
Other Assets - Summary of Detailed Information About Foreign Currency Swaps (Detail) - 12 months ended Dec. 31, 2022 - Foreign currency swap [member] ¥ in Thousands, $ in Thousands | CNY (¥) | USD ($) |
Disclosure of financial instruments by type of interest rate [line items] | ||
Financial assets | ¥ | ¥ 225,357 | |
Notional amount | $ | $ 1,050,000 | |
Pay side | RMB | |
Receive side | USD | |
Bottom of range [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Maturity date | Apr. 06, 2023 | |
Top of range [member] | ||
Disclosure of financial instruments by type of interest rate [line items] | ||
Maturity date | May 15, 2023 |
Borrowings - Summary of Borrowi
Borrowings - Summary of Borrowings (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ¥ 36,915,513 | ¥ 25,927,417 |
Parent [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 139,054 | 319,926 |
Secured Bank borrowings [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 1,343,970 | 2,991,890 |
Unsecured Bank Borrowings [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 35,251,477 | 22,816,450 |
Unsecured Bank Borrowings [Member] | Parent [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 138,860 | 318,785 |
Unsecured Corporate Borrowings [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 0 | 388 |
Unsecured Borrowings [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 36,595,447 | 25,808,728 |
Interest payable | 320,066 | 118,689 |
Unsecured Borrowings [Member] | Parent [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Interest payable | ¥ 194 | ¥ 1,141 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) ¥ in Thousands, $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | |
Disclosure of detailed information about borrowings [line items] | |||
Borrowings | ¥ | ¥ 36,915,513 | ¥ 25,927,417 | |
Borrowings maturity date | May 18, 2023 | ||
Unsecured Syndicated Loan [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings | $ | $ 1,290 | ||
Notional amount | $ | $ 1,500 | ||
Borrowings, adjustment to interest rate basis | 1.25% | 1.25% | |
Borrowings interest rate basis | LIBOR rate plus 1.25% | ||
Secured Deposits [Member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings | ¥ | ¥ 1,344,000 | ||
Secured Deposits [Member] | Bottom of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings, adjustment to interest rate basis | 3.84% | 3.84% | |
Secured Deposits [Member] | Top of range [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Borrowings, adjustment to interest rate basis | 4.05% | 4.05% |
Borrowings - Summary of Intere
Borrowings - Summary of Interest Rates of Borrowings (Detail) | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 125% | |
Bank Borrowings [Member] | Fixed Rate [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 2.70% | 2.80% |
Bank Borrowings [Member] | Fixed Rate [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 4.30% | 4.80% |
Bank Borrowings [Member] | Floating Rate [member] | Bottom of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 1.72% | 1.35% |
Bank Borrowings [Member] | Floating Rate [member] | Top of range [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 5.59% | 1.92% |
Corporate Borrowings [Member] | Fixed Rate [member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings, interest rate | 0.78% |
Bonds Payable - Schedule Of Bon
Bonds Payable - Schedule Of Bonds Payable (Detail) ¥ in Thousands, $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | Jun. 14, 2022 CNY (¥) | Jun. 14, 2022 USD ($) | Jun. 07, 2022 CNY (¥) | Jun. 07, 2022 USD ($) | |
Disclosure Of Detailed Information Of Bonds Payable [Line Items] | |||||||
New issued bonds | ¥ 2,143,348 | ¥ 0 | ¥ 2,013,000 | $ 300 | ¥ 2,013,000 | $ 300 | |
Interest paid | 1,213,186 | ¥ 867,715 | ¥ 1,151,421 | ||||
Bonds [Member] | |||||||
Disclosure Of Detailed Information Of Bonds Payable [Line Items] | |||||||
New issued bonds | 2,010,782 | ||||||
Interest accrued at effective interest rate | 57,267 | ||||||
Interest paid | 0 | ||||||
Exchange differences | 75,299 | ||||||
Carrying value as of December 31, 2022 | ¥ 2,143,348 |
Bonds Payable - Schedule Of Bo
Bonds Payable - Schedule Of Bonds Payable Additional Information (Detail) ¥ in Thousands, $ in Millions | Jun. 14, 2022 CNY (¥) | Jun. 07, 2022 CNY (¥) | Dec. 31, 2022 CNY (¥) | Jun. 14, 2022 USD ($) | Jun. 07, 2022 USD ($) | Dec. 31, 2021 CNY (¥) |
Disclosure Of Detailed Information Of Bonds Payable [Line Items] | ||||||
Bonds issued | ¥ 2,013,000 | ¥ 2,013,000 | ¥ 2,143,348 | $ 300 | $ 300 | ¥ 0 |
Bonds [member] | ||||||
Disclosure Of Detailed Information Of Bonds Payable [Line Items] | ||||||
Bonds issued | ¥ 2,010,782 | |||||
Bonds [member] | Secured Overnight Financing Rate Surf Overnight Index Swap Rate [member] | ||||||
Disclosure Of Detailed Information Of Bonds Payable [Line Items] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.55% | 2.50% |
Accounts And Other Payables A_3
Accounts And Other Payables And Contract Liabilities- Summary of Accounts And Other Payables And Contract Liabilities (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | |
Disclosure Of Accounts And Other Payables And Contract Liabilities [Line Items] | |||
Unpaid redemption consideration for convertible promissory notes | ¥ 3,745,929 | ¥ 0 | |
Contract liabilities from retail credit and enablement service | 3,067,715 | 1,107,263 | |
Employment benefit payable | 2,715,543 | 4,041,847 | |
Tax payable | 846,402 | 831,329 | |
Payable to cooperation banks | [1] | 471,339 | 702,844 |
Payable to investees | 430,616 | 431,148 | |
Payable to external suppliers | [2] | 193,283 | 401,209 |
Trust management fee payable | [2] | 57,976 | 415,817 |
Cash compensation of Class C ordinary shares restructuring | 21,205 | 46,749 | |
Other deposits payable | 221,671 | 108,291 | |
Payable for purchase of trust plan | 0 | 137,724 | |
Others | [3] | 426,975 | 590,034 |
Total | 12,198,654 | 8,814,255 | |
Parent [member] | |||
Disclosure Of Accounts And Other Payables And Contract Liabilities [Line Items] | |||
Unpaid redemption consideration for convertible promissory notes | 3,745,929 | 0 | |
Employment benefit payable | 0 | 0 | |
Payable to external suppliers | 94 | 0 | |
Cash compensation of Class C ordinary shares restructuring | 21,205 | 46,749 | |
Others | 36,415 | 28,179 | |
Total | ¥ 3,803,643 | ¥ 74,928 | |
[1]Payable to cooperation banks is related to the restricted cash that is generated from a risk sharing business with banks. Under such business, the Group provides loan enablement services for loans originated by banks and is paid a variable fee determined based on the performance of underlying loans facilitated by the Group. On a monthly basis, the Group receives fixed service fees from the cooperation banks based on a fixed percentage of loans originated in restricted cash accounts. The service fees will be adjusted based on actual performance of the loans originated under this business upon maturity.[2]As of December 31, 2020, 2021 and 2022, the aging of the payable to external suppliers and trust management fee payable are all within 1 year.[3]Others comprise miscellaneous items including advances from customers and others with immaterial individual amounts. |
Payable To Investors Of Conso_3
Payable To Investors Of Consolidated Structured Entities - Summary of Payable To Investors of Consolidated Structured Entities (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Payable To Investors of Consolidated Structured Entities [Abstract] | ||
Payable to investors of consolidated trust plans | ¥ 177,102,034 | ¥ 195,262,648 |
Payable to investors of consolidated wealth management plans | 45,692 | 183,492 |
Total | ¥ 177,147,726 | ¥ 195,446,140 |
Financing Guarantee Liabiliti_3
Financing Guarantee Liabilities - Summary Of Movement Of Gross Carrying Amount Of Financing Guarantee Contracts (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Gross carrying amount [member] | |||
Movement Of Gross Carrying Amount Of Financing Guarantee Commitments [Line Items] | |||
Beginning balance | ¥ 342,848,611 | ||
Ending balance | 331,401,433 | ¥ 342,848,611 | |
Financial guarantee contracts [member] | Gross carrying amount [member] | |||
Movement Of Gross Carrying Amount Of Financing Guarantee Commitments [Line Items] | |||
Beginning balance | 64,731,369 | 20,969,026 | ¥ 4,639,331 |
New guarantee contracts originated | 59,085,462 | 71,968,587 | 23,031,641 |
Guarantee liabilities de-recognized and other adjusted in the current period (including repayments of loans and guarantee payments) | (55,313,893) | (28,206,244) | (6,701,946) |
Ending balance | 68,502,938 | 64,731,369 | 20,969,026 |
Financial guarantee contracts [member] | Gross carrying amount [member] | Stage 1 [member] | |||
Movement Of Gross Carrying Amount Of Financing Guarantee Commitments [Line Items] | |||
Beginning balance | 64,416,918 | 20,898,499 | 4,600,281 |
New guarantee contracts originated | 59,085,462 | 71,968,587 | 23,031,641 |
Transfers financial assets Stage | (5,760,786) | (1,261,287) | (373,494) |
Guarantee liabilities de-recognized and other adjusted in the current period (including repayments of loans and guarantee payments) | (50,729,902) | (27,188,881) | (6,359,929) |
Ending balance | 67,011,692 | 64,416,918 | 20,898,499 |
Financial guarantee contracts [member] | Gross carrying amount [member] | Stage 1 [member] | — From stage 1 to stage 2 | |||
Movement Of Gross Carrying Amount Of Financing Guarantee Commitments [Line Items] | |||
Transfers financial assets Stage | (5,887,854) | (1,296,115) | (392,721) |
Financial guarantee contracts [member] | Gross carrying amount [member] | Stage 1 [member] | — From stage 2 to stage 1 | |||
Movement Of Gross Carrying Amount Of Financing Guarantee Commitments [Line Items] | |||
Transfers financial assets Stage | 127,068 | 34,828 | 19,227 |
Financial guarantee contracts [member] | Gross carrying amount [member] | Stage 2 [member] | |||
Movement Of Gross Carrying Amount Of Financing Guarantee Commitments [Line Items] | |||
Beginning balance | 314,451 | 70,527 | 39,050 |
Transfers financial assets Stage | 5,760,786 | 1,261,287 | 373,494 |
Guarantee liabilities de-recognized and other adjusted in the current period (including repayments of loans and guarantee payments) | (4,583,991) | (1,017,363) | (342,017) |
Ending balance | 1,491,246 | 314,451 | 70,527 |
Financial guarantee contracts [member] | Gross carrying amount [member] | Stage 2 [member] | — From stage 1 to stage 2 | |||
Movement Of Gross Carrying Amount Of Financing Guarantee Commitments [Line Items] | |||
Transfers financial assets Stage | 5,887,854 | 1,296,115 | 392,721 |
Financial guarantee contracts [member] | Gross carrying amount [member] | Stage 2 [member] | — From stage 2 to stage 1 | |||
Movement Of Gross Carrying Amount Of Financing Guarantee Commitments [Line Items] | |||
Transfers financial assets Stage | (127,068) | (34,828) | (19,227) |
Financial guarantee contracts [member] | Accumulated Impairment [Member] | |||
Movement Of Gross Carrying Amount Of Financing Guarantee Commitments [Line Items] | |||
Beginning balance | 2,697,109 | 748,674 | 242,749 |
New guarantee contracts originated | 980,980 | 1,126,819 | 344,770 |
Transfers financial assets Stage | 925,305 | 197,301 | 65,409 |
Net impact on expected credit loss by stage transfers | 925,305 | 197,301 | 65,409 |
Guarantee liabilities de-recognized and other adjusted in the current period (including repayments of loans and guarantee payments) | (6,538,168) | (1,865,476) | (489,478) |
Changes in parameters of expected credit loss model | 7,698,143 | 2,489,791 | 585,224 |
Ending balance | 5,763,369 | 2,697,109 | 748,674 |
Financial guarantee contracts [member] | Accumulated Impairment [Member] | Stage 1 [member] | |||
Movement Of Gross Carrying Amount Of Financing Guarantee Commitments [Line Items] | |||
Beginning balance | 2,402,385 | 688,080 | 211,913 |
New guarantee contracts originated | 980,980 | 1,126,819 | 344,770 |
Transfers financial assets Stage | (4,462,900) | (978,068) | (228,744) |
Net impact on expected credit loss by stage transfers | (63,416) | (17,444) | (9,866) |
Guarantee liabilities de-recognized and other adjusted in the current period (including repayments of loans and guarantee payments) | (2,201,596) | (911,219) | (217,235) |
Changes in parameters of expected credit loss model | 7,656,851 | 2,476,773 | 577,376 |
Ending balance | 4,375,720 | 2,402,385 | 688,080 |
Financial guarantee contracts [member] | Accumulated Impairment [Member] | Stage 1 [member] | — From stage 1 to stage 2 | |||
Movement Of Gross Carrying Amount Of Financing Guarantee Commitments [Line Items] | |||
Transfers financial assets Stage | (4,514,480) | (993,204) | (233,701) |
Financial guarantee contracts [member] | Accumulated Impairment [Member] | Stage 1 [member] | — From stage 2 to stage 1 | |||
Movement Of Gross Carrying Amount Of Financing Guarantee Commitments [Line Items] | |||
Transfers financial assets Stage | 114,996 | 32,580 | 14,823 |
Financial guarantee contracts [member] | Accumulated Impairment [Member] | Stage 2 [member] | |||
Movement Of Gross Carrying Amount Of Financing Guarantee Commitments [Line Items] | |||
Beginning balance | 294,724 | 60,594 | 30,836 |
Transfers financial assets Stage | 5,388,205 | 1,175,369 | 294,153 |
Net impact on expected credit loss by stage transfers | 988,721 | 214,745 | 75,275 |
Guarantee liabilities de-recognized and other adjusted in the current period (including repayments of loans and guarantee payments) | (4,336,572) | (954,257) | (272,243) |
Changes in parameters of expected credit loss model | 41,292 | 13,018 | 7,848 |
Ending balance | 1,387,649 | 294,724 | 60,594 |
Financial guarantee contracts [member] | Accumulated Impairment [Member] | Stage 2 [member] | — From stage 1 to stage 2 | |||
Movement Of Gross Carrying Amount Of Financing Guarantee Commitments [Line Items] | |||
Transfers financial assets Stage | 4,514,480 | 993,204 | 233,701 |
Financial guarantee contracts [member] | Accumulated Impairment [Member] | Stage 2 [member] | — From stage 2 to stage 1 | |||
Movement Of Gross Carrying Amount Of Financing Guarantee Commitments [Line Items] | |||
Transfers financial assets Stage | ¥ (114,996) | ¥ (32,580) | ¥ (14,823) |
Convertible Promissory Note P_3
Convertible Promissory Note Payable - Summary of Convertible Promissory Note Payable (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Convertible Promissory Note Payable [Line Items] | |||
Beginning balance | ¥ 10,669,498 | ||
Beginning balance | 10,669,498 | ||
Interest paid | (1,213,186) | ¥ (867,715) | ¥ (1,151,421) |
Ending balance | 5,164,139 | 10,669,498 | |
Ending balance | 5,164,139 | 10,669,498 | |
Convertible Promissory Note Payable [member] | Liability [Member] | |||
Disclosure of Convertible Promissory Note Payable [Line Items] | |||
Beginning balance | 10,669,498 | 10,117,188 | 10,014,377 |
Interest accrued at effective interest rate | 1,045,611 | 893,001 | 883,759 |
Interest paid | (115,879) | (100,937) | (92,981) |
Redemption And Extension Of Convertible Promissory Notes | (7,444,513) | ||
Exchange differences | 1,009,422 | (239,754) | (687,967) |
Ending balance | 5,164,139 | 10,669,498 | 10,117,188 |
Convertible Promissory Note Payable [member] | Equity [member] | |||
Disclosure of Convertible Promissory Note Payable [Line Items] | |||
Beginning balance | 5,744,955 | 5,744,955 | 5,744,955 |
Redemption And Extension Of Convertible Promissory Notes | (5,584,770) | ||
Ending balance | ¥ 160,185 | ¥ 5,744,955 | ¥ 5,744,955 |
Convertible Promissory Note P_4
Convertible Promissory Note Payable - Summary of Convertible Promissory Note Payable (Parenthetical) (Detail) ¥ in Millions, $ in Millions | 12 Months Ended | ||
Dec. 06, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2022 CNY (¥) | |
Disclosure of Convertible Promissory Note Payable [Line Items] | |||
Borrowings, interest rate | 125% | ||
Third Amendment and Supplemental Agreement [Member] | |||
Disclosure of Convertible Promissory Note Payable [Line Items] | |||
Increase In Finance Costs | ¥ 174 | ||
Share Premium | 6,210 | ||
Decrease In Other Reserves | ¥ 5,585 | ||
Payment Of Covertible Promissory Note | $ | $ 536 | ||
Third Amendment and Supplemental Agreement [Member] | Ping An Group And An ke Technology [Member] | |||
Disclosure of Convertible Promissory Note Payable [Line Items] | |||
Payment Of Covertible Promissory Note | $ | $ 1,071 | ||
Borrowings, interest rate | 6.50% | ||
Consideration Of Convertible Promissory Note Unpaid | ¥ 3,746 |
Convertible Promissory Note P_5
Convertible Promissory Note Payable - Additional Information (Detail) $ / shares in Units, ¥ in Thousands, $ in Millions | Dec. 06, 2022 | Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | Oct. 31, 2015 USD ($) $ / shares | Oct. 08, 2015 $ / shares | Oct. 01, 2015 |
Convertible Promissory Note Payable [Line Items] | ||||||
Notes issued | ¥ | ¥ 5,164,139 | ¥ 10,669,498 | ||||
Loan interest rate | 125% | |||||
Maturity Date | Oct. 08, 2026 | |||||
Sale of Stock Price Per Share | $ / shares | $ 14.8869 | |||||
Ping an group [Member] | ||||||
Convertible Promissory Note Payable [Line Items] | ||||||
Notes issued | $ | $ 1,953.8 | |||||
Loans received | $ | $ 937.8 | |||||
Loan interest rate | 0.7375% | |||||
Conversion Of Debt To Equity conversion price | $ / shares | $ 14.8869 | |||||
Ping An Group And An key Technology [Member] | ||||||
Convertible Promissory Note Payable [Line Items] | ||||||
Loan interest rate | 0.7375% | |||||
Percentage of Conversion of Debt to Equity | 50% | |||||
Percentage To Redeem Outstanding Principal Amount | 50% | |||||
Percentage Of Additional Outstanding Principal Amount | 50% |
Optionally Convertible Promis_3
Optionally Convertible Promissory Notes - Additional Information (Detail) $ / shares in Units, ¥ in Thousands, $ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 $ / shares | Dec. 31, 2021 CNY (¥) | Sep. 30, 2020 CNY (¥) | Sep. 30, 2020 USD ($) | |
Disclosure Of ordinary shares to be issued to the holders of optionally convertible promissory notes [Line Items] | |||||
Loan interest rate | 125% | ||||
Borrowings maturity date | May 18, 2023 | ||||
Notes issued | ¥ | ¥ 5,164,139 | ¥ 10,669,498 | |||
Optionally convertible promissory notes [member] | |||||
Disclosure Of ordinary shares to be issued to the holders of optionally convertible promissory notes [Line Items] | |||||
Loan interest rate | 6% | ||||
Borrowings maturity date | Sep. 30, 2023 | ||||
Conversion Of Debt To Equity conversion price | $ / shares | $ 30.07 | ||||
Notes issued | ¥ 7,884,000 | $ 1,158 |
Optionally Convertible Promis_4
Optionally Convertible Promissory Notes - Summary of Ordinary Shares To Be Issued To The Holders of Optionally Convertible Promissory Notes (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of ordinary shares to be issued to the holders of optionally convertible promissory notes [Line Items] | |||
Beginning balance | ¥ 7,405,103 | ||
Interest paid | (1,213,186) | ¥ (867,715) | ¥ (1,151,421) |
Ending balance | 8,142,908 | 7,405,103 | |
Optionally convertible promissory notes [member] | Liability [Member] | |||
Disclosure Of ordinary shares to be issued to the holders of optionally convertible promissory notes [Line Items] | |||
Beginning balance | 7,405,103 | 7,530,542 | |
Interest accrued at effective interest rate | 521,747 | 495,079 | |
Interest paid | (493,134) | (446,953) | |
Exchange differences | 709,192 | (173,565) | |
Ending balance | 8,142,908 | 7,405,103 | 7,530,542 |
Optionally convertible promissory notes [member] | Equity [member] | |||
Disclosure Of ordinary shares to be issued to the holders of optionally convertible promissory notes [Line Items] | |||
Beginning balance | 1,489,748 | 1,489,748 | |
Ending balance | ¥ 1,489,748 | ¥ 1,489,748 | ¥ 1,489,748 |
Other Liabilities- Summary of O
Other Liabilities- Summary of Other Liabilities (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosures Of Other Liabilities [Abstract] | ||
Accrued expenses | ¥ 1,617,983 | ¥ 2,173,256 |
Payable for other debt investments | 261,851 | 0 |
Derivative financial liabilities | 0 | 25,772 |
Provisions | 112,584 | 110,930 |
Others | 8,350 | 5,990 |
Other liabilities | ¥ 2,000,768 | ¥ 2,315,948 |
Other Liabilities - Summary of
Other Liabilities - Summary of Derivative Financial Liabilities (Detail) - 12 months ended Dec. 31, 2021 - Derivative Financial Liabilities [Member] - Foreign currency swap [member] ¥ in Thousands, $ in Thousands | USD ($) | CNY (¥) |
Disclosure Of Derivative Financial Liabilities [Line Items] | ||
Carrying amount | ¥ | ¥ 25,772 | |
Notional amount | $ | $ 170,000 | |
Maturity date | 01/09/2022 | |
USD | ||
Disclosure Of Derivative Financial Liabilities [Line Items] | ||
Receive side | USD | |
RMB | ||
Disclosure Of Derivative Financial Liabilities [Line Items] | ||
Pay side | RMB |
Share Capital And Share Premi_3
Share Capital And Share Premium - Summary of Share Capital And Share Premium (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Share Capital And Share Premium [Line Items] | ||||
Number of share issued | 1,231,150,560 | |||
Equity | ¥ 94,786,675 | ¥ 94,559,203 | ¥ 83,151,321 | ¥ 48,145,417 |
Retirement of ordinary shares (value) | 82,665 | 5,560,104 | ||
Exercise of share-based payment | 58,953 | 79,651 | ||
Cash Dividend (Note 45) | (7,628,573) | 0 | 0 | |
Share capital [member] | ||||
Disclosure Of Share Capital And Share Premium [Line Items] | ||||
Equity | 75 | 75 | 77 | 69 |
Share premium [member] | ||||
Disclosure Of Share Capital And Share Premium [Line Items] | ||||
Equity | 32,073,874 | 33,365,786 | ¥ 33,213,426 | ¥ 14,113,311 |
Exercise of share-based payment | 127,063 | ¥ 152,360 | ||
Cash Dividend (Note 45) | ¥ (7,628,573) | |||
Class A ordinary share [member] | ||||
Disclosure Of Share Capital And Share Premium [Line Items] | ||||
Number of share issued | 987,146,871 | |||
Conversion of Class B ordinary shares and Class C ordinary shares to Class A ordinary shares, Shares | 136,859,460 | |||
Re-designation and reclassification of Class A ordinary shares into ordinary shares, Shares | (1,124,006,331) | |||
Class A ordinary share [member] | Share capital [member] | ||||
Disclosure Of Share Capital And Share Premium [Line Items] | ||||
Equity | ¥ 61 | |||
Conversion of Class B ordinary shares and Class C ordinary shares to Class A ordinary shares, Value | ¥ 8 | |||
Re-designation and reclassification of Class A ordinary shares into ordinary shares, Value | (69) | |||
Class A ordinary share [member] | Share premium [member] | ||||
Disclosure Of Share Capital And Share Premium [Line Items] | ||||
Equity | ¥ 3,242,972 | |||
Conversion of Class B ordinary shares and Class C ordinary shares to Class A ordinary shares, Value | 11,278,459 | |||
Re-designation and reclassification of Class A ordinary shares into ordinary shares, Value | ¥ (14,521,431) | |||
Class B Ordinary Share [Member] | ||||
Disclosure Of Share Capital And Share Premium [Line Items] | ||||
Number of share issued | 135,196,846 | |||
Conversion of Class B ordinary shares and Class C ordinary shares to Class A ordinary shares, Shares | (135,196,846) | |||
Class B Ordinary Share [Member] | Share capital [member] | ||||
Disclosure Of Share Capital And Share Premium [Line Items] | ||||
Equity | ¥ 8 | |||
Conversion of Class B ordinary shares and Class C ordinary shares to Class A ordinary shares, Value | ¥ (8) | |||
Class B Ordinary Share [Member] | Share premium [member] | ||||
Disclosure Of Share Capital And Share Premium [Line Items] | ||||
Equity | ¥ 10,870,339 | |||
Conversion of Class B ordinary shares and Class C ordinary shares to Class A ordinary shares, Value | ¥ (10,870,339) | |||
Ordinary Share [Member] | ||||
Disclosure Of Share Capital And Share Premium [Line Items] | ||||
Number of share issued | 1,203,505,757 | 1,203,505,757 | 1,231,150,560 | |
Re-designation and reclassification of Class A ordinary shares into ordinary shares, Shares | 1,124,006,331 | |||
Issuance of ordinary shares upon IPO and exercise of over-allotment option, Shares | 8,000,000 | 99,577,564 | ||
Conversion of automatically convertible promissory notes to ordinary shares, Shares | 7,566,665 | |||
Ordinary Share [Member] | Share capital [member] | ||||
Disclosure Of Share Capital And Share Premium [Line Items] | ||||
Repurchase and retirement of ordinary shares (f), Shares | (35,644,803) | |||
Equity | ¥ 75 | ¥ 75 | ¥ 77 | |
Re-designation and reclassification of Class A ordinary shares into ordinary shares, Value | 69 | |||
Issuance of ordinary shares upon IPO and exercise of over-allotment option, Value | 7 | |||
Conversion of automatically convertible promissory notes to ordinary shares, Value | 1 | |||
Retirement of ordinary shares (value) | (2) | |||
Ordinary Share [Member] | Share premium [member] | ||||
Disclosure Of Share Capital And Share Premium [Line Items] | ||||
Equity | 32,073,874 | 33,365,786 | 33,213,426 | |
Re-designation and reclassification of Class A ordinary shares into ordinary shares, Value | 14,521,431 | |||
Issuance of ordinary shares upon IPO and exercise of over-allotment option, Value | 17,305,119 | |||
Conversion of automatically convertible promissory notes to ordinary shares, Value | ¥ 1,386,876 | |||
Exercise of share-based payment | 127,063 | ¥ 152,360 | ||
Redemption and extension of convertible promissory notes (Note 34(a)) | 6,209,598 | |||
Cash Dividend (Note 45) | ¥ (7,628,573) |
Share Capital And Share Premi_4
Share Capital And Share Premium - Summary of Share Capital And Share Premium (Parenthetical) (Detail) ¥ in Thousands, ¥ / ADR in Millions | 12 Months Ended | |||||||
Oct. 30, 2020 CNY (¥) shares | Sep. 04, 2019 shares | Dec. 31, 2021 CNY (¥) ¥ / ADR | Oct. 13, 2022 shares | Apr. 08, 2022 shares | Dec. 31, 2021 $ / shares shares | Dec. 31, 2020 shares | Oct. 30, 2020 $ / shares shares | |
Disclosure Of Share Capital And Share Premium [Line Items] | ||||||||
Number of share issued | 1,231,150,560 | |||||||
Ordinary shares outstanding | 1,145,926,797 | 1,144,226,418 | 1,231,150,560 | |||||
Shares reserved under the existing share incentive plans | 35,644,803 | |||||||
Shares for the future exercise of share-based payment | 15,000,000,000 | 8 | ||||||
Automatically Convertible Promissory Notes [Member] | ||||||||
Disclosure Of Share Capital And Share Premium [Line Items] | ||||||||
Increase (decrease) in equity shares outstanding due to conversion of convertible instruments | 7,566,665 | |||||||
Promissory Notes Conversion Price Per Share | $ / shares | $ 1,387 | $ 13.5 | ||||||
Adjustment to additional paid in capital due to difference in value on account of conversion of debt into equity | ¥ | ¥ 27,000 | |||||||
Class B and class C ordinary shares convertible into class A ordinary shares [member] | ||||||||
Disclosure Of Share Capital And Share Premium [Line Items] | ||||||||
Common stock shares converted from one class to another | 135,196,846 | |||||||
Class C Ordinary Shares Converted Into Class A Ordinary Shares [Member] | ||||||||
Disclosure Of Share Capital And Share Premium [Line Items] | ||||||||
Common stock shares converted from one class to another | 1,662,614 | |||||||
Adjustment due to the difference between carrying value of shares and par value of shares upon conversion | ¥ | ¥ 408,000 | |||||||
Class A Ordinary Sahres Redesignated Into Ordinary Shares [Member] | ||||||||
Disclosure Of Share Capital And Share Premium [Line Items] | ||||||||
Number of share issued | 1,124,006,331 | |||||||
Ordinary shares outstanding | 1,124,006,331 | |||||||
Ordinary shares [member] | ||||||||
Disclosure Of Share Capital And Share Premium [Line Items] | ||||||||
Stock shares issued during the period shares | 99,577,564 | |||||||
Issuance of ordinary shares for share-based payment | ¥ | ¥ 517 | |||||||
Ordinary shares [member] | Initial public offer [Member] | ||||||||
Disclosure Of Share Capital And Share Premium [Line Items] | ||||||||
Stock shares issued during the period shares | 87,500,000 | |||||||
Ordinary shares [member] | Over allotment [Member] | ||||||||
Disclosure Of Share Capital And Share Premium [Line Items] | ||||||||
Stock shares issued during the period shares | 12,077,564 | |||||||
Ordinary shares [member] | Initial Public Offer And Overallotement [Member] | ||||||||
Disclosure Of Share Capital And Share Premium [Line Items] | ||||||||
Adjustment due to the difference between carrying value of shares and par value of shares upon conversion | ¥ | ¥ 17,305,000 |
Treasury Shares - Summary of Tr
Treasury Shares - Summary of Treasury shares (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement [Line Items] | |||
Beginning balance | ¥ 5,560,104 | ||
Beginning balance, Shares | 1,231,150,560 | ||
Repurchase of ordinary shares | 82,665 | ¥ 5,560,104 | |
Issuance of ordinary shares for share-based payment, Shares | 1,231,150,560 | ||
Ending balance | 5,642,769 | 5,560,104 | |
Ending balance, Shares | 1,231,150,560 | ||
Treasury shares [member] | |||
Statement [Line Items] | |||
Beginning balance | ¥ 5,560,104 | ¥ 2 | ¥ 2 |
Beginning balance, Shares | 59,287,314 | 35,644,803 | 35,644,803 |
Repurchase of ordinary shares | ¥ 82,665 | ¥ 5,560,104 | |
Repurchase of ordinary shares, Shares | 1,447,513 | 53,507,241 | |
Retirement of ordinary shares | ¥ (2) | ||
Retirement of ordinary shares, Shares | (35,644,803) | ||
Issuance of ordinary shares for share-based payment, Shares | 8,000,000 | ||
Exercise of share-based payment, Shares | (3,223,040) | (2,219,927) | 0 |
Ending balance | ¥ 5,642,769 | ¥ 5,560,104 | ¥ 2 |
Ending balance, Shares | 57,511,787 | 59,287,314 | 35,644,803 |
Treasury Shares - Additional In
Treasury Shares - Additional Information (Detail) $ / shares in Units, ¥ in Thousands, $ in Millions | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2022 CNY (¥) shares | Dec. 31, 2021 USD ($) $ / shares shares | Dec. 31, 2021 CNY (¥) shares | Dec. 31, 2020 CNY (¥) shares | Dec. 31, 2020 $ / shares |
Statement [Line Items] | ||||||
Stock repurchase program, Number of shares authorized, Value | $ | $ 1,000 | |||||
Stock repurchase program, Number of shares repurchased | 110,000,000 | 110,000,000 | ||||
Stock repurchase program, Number of shares repurchased, Value | $ 877 | ¥ 5,643,000 | ||||
Ordinary shares [member] | ||||||
Statement [Line Items] | ||||||
Stock repurchase program, Number of shares repurchased | 55,000,000 | 55,000,000 | ||||
Treasury shares [member] | ||||||
Statement [Line Items] | ||||||
Exercise of share-based payment, Shares | 3,223,040 | 3,223,040 | 2,219,927 | 2,219,927 | 0 | |
Par value per share | $ / shares | $ 0.00001 | $ 0.00001 | $ 0.00001 | |||
Treasury shares issued under share based payment | ¥ | ¥ 224 | ¥ 143 | ¥ 0 |
Other Reserves - Summary of Oth
Other Reserves - Summary of Other Reserves (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Other reserves [Line Items] | |||
Beginning Balance | ¥ 9,304,995 | ¥ 7,418,710 | ¥ 4,582,291 |
C-round restructuring | 1,295,658 | ||
Conversion of Class C ordinary shares to ordinary shares upon IPO | (10,268) | ||
Exercise of share-based payment | 58,953 | 79,651 | |
Foreign operation translation difference | (1,581,252) | 28,402 | 614,399 |
Appropriation to general reserve | 42,078 | 1,789,034 | 772,466 |
Share-based payment | 45,491 | 132,071 | 164,164 |
Acquisition of non-controlling interests of a subsidiary | 9,487 | ||
Redemption and extension of convertible promissory notes | (5,584,770) | ||
Ending Balance | 2,158,432 | 9,304,995 | 7,418,710 |
Employee Share-based compensation reserve | |||
Disclosure of Other reserves [Line Items] | |||
Beginning Balance | 674,851 | 615,489 | 451,325 |
Exercise of share-based payment | (68,110) | (72,709) | |
Share-based payment | 45,491 | 132,071 | 164,164 |
Ending Balance | 652,232 | 674,851 | 615,489 |
Translation sale differences | |||
Disclosure of Other reserves [Line Items] | |||
Beginning Balance | 174,982 | 146,580 | (467,819) |
Foreign operation translation difference | (1,581,252) | 28,402 | 614,399 |
Ending Balance | (1,406,270) | 174,982 | 146,580 |
General reserve | |||
Disclosure of Other reserves [Line Items] | |||
Beginning Balance | 2,785,212 | 996,178 | 223,712 |
Appropriation to general reserve | 42,078 | 1,789,034 | 772,466 |
Ending Balance | 2,827,290 | 2,785,212 | 996,178 |
Value of conversion rights optionally convertible promissory notes | |||
Disclosure of Other reserves [Line Items] | |||
Beginning Balance | 1,489,748 | 1,489,748 | 0 |
C-round restructuring | 1,489,748 | ||
Ending Balance | 1,489,748 | 1,489,748 | 1,489,748 |
Value of conversion rights convertible redeemable preferred shares | |||
Disclosure of Other reserves [Line Items] | |||
Beginning Balance | 230,006 | ||
C-round restructuring | (219,738) | ||
Conversion of Class C ordinary shares to ordinary shares upon IPO | (10,268) | ||
Ending Balance | |||
Value of conversion rights convertible promissory note | |||
Disclosure of Other reserves [Line Items] | |||
Beginning Balance | 5,744,955 | 5,744,955 | 5,744,955 |
Redemption and extension of convertible promissory notes | (5,584,770) | ||
Ending Balance | 160,185 | 5,744,955 | 5,744,955 |
Capital reserve | |||
Disclosure of Other reserves [Line Items] | |||
Beginning Balance | (1,564,753) | (1,574,240) | (1,599,888) |
C-round restructuring | 25,648 | ||
Acquisition of non-controlling interests of a subsidiary | 9,487 | ||
Ending Balance | ¥ (1,564,753) | ¥ (1,564,753) | ¥ (1,574,240) |
Retained Earnings - Additional
Retained Earnings - Additional Information (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Text block [abstract] | ||
Description of statutory surplus reserve | each of the Company’s subsidiaries, the Consolidated Affiliated Entities and Subsidiaries of Consolidated Affiliated Entities incorporated in the PRC is required to annually appropriate 10% of its after-tax income to its statutory surplus reserve prior to payment of any dividends, unless such reserve funds have reached 50% of such entity’s registered capital. | |
Accumulated statutory surplus reserve | ¥ 4,432 | ¥ 4,240 |
Commitment - Summary Of Commitm
Commitment - Summary Of Commitments Under the Financing Guarantee Contracts (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosures Of Commitments [Abstract] | ||
Financing Guarantee Commitments | ¥ 68,502,938 | ¥ 64,731,369 |
Note to Consolidated Statemen_3
Note to Consolidated Statements of Cash flows - Summary of Reconciliation From Profit Before Income Tax To Cash Used In Operating Activities (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of reconciliation from profit before income tax to cash used in operating activities [Line Items] | |||
Profit before income tax | ¥ 13,013,271 | ¥ 23,400,178 | ¥ 17,909,505 |
Adjustments for | |||
Depreciation of property and equipment | 177,799 | 193,511 | 226,862 |
Depreciation of right-of-use assets | 578,014 | 608,889 | 604,018 |
Amortization of intangible assets | 15,325 | 22,234 | 31,831 |
Share of loss/(profit) of associates and joint ventures | 218 | 31,143 | (14,837) |
Net gains on sale of property and equipment, and intangible assets | 24,256 | 6,681 | 184 |
Net unrealized losses/(gains) on financial assets at fair value through profit or loss | 212,297 | 483,356 | 558,044 |
Non-cash employee benefits expense-share based payment | 45,919 | 133,395 | 165,248 |
Asset impairment losses | 427,108 | 1,100,882 | 7,168 |
Credit impairment losses | 11,956,103 | 5,658,259 | 2,768,499 |
Finance cost classified as financing activities | 2,502,008 | 1,808,050 | 3,137,737 |
Investment income classified as investing activities | (1,460,167) | (1,592,319) | (1,127,006) |
Foreign exchange losses/(gains) | 877,232 | (206,753) | (192,337) |
Change in operating assets and liabilities | 28,369,383 | 31,647,506 | 24,074,916 |
Change in operating assets and liabilities, net of effects from purchase of controlled entity | |||
Decrease/(increase) in loans to customers and accounts and other receivables | 10,415,490 | (101,160,641) | (68,897,073) |
Increase/(decrease) in accounts and other payables | (24,054,567) | 82,508,406 | 56,166,868 |
Net cash generated from / (used in) operating activities | ¥ 14,730,306 | ¥ 12,995,271 | ¥ 11,344,711 |
Note to Consolidated Statemen_4
Note to Consolidated Statements of Cash flows - Summary Of Net Increase in cash and cash equivalents (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Net decrease in cash and cash equivalents [Line Items] | |||
Cash and cash equivalents at the end of the year | ¥ 29,537,511 | ¥ 26,496,310 | ¥ 23,785,651 |
Less: Cash and cash equivalents at the beginning of the year | (26,496,310) | (23,785,651) | (7,312,061) |
Net increase in cash and cash equivalents | ¥ 3,041,201 | ¥ 2,710,659 | ¥ 16,473,590 |
Note to Consolidated Statemen_5
Note to Consolidated Statements of Cash flows - Summary of Cash And Cash Equivalents (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of reconciliation from profit before income tax to cash used in operating activities [Abstract] | ||||
Cash at bank | ¥ 43,882,127 | ¥ 34,743,188 | ¥ 24,158,568 | |
Less: Time deposits with original maturities of more than 3 months | (14,346,731) | (8,250,270) | (373,102) | |
Add: Provision for impairment losses | 2,115 | 3,392 | 185 | |
Cash and cash equivalents at the end of the year | ¥ 29,537,511 | ¥ 26,496,310 | ¥ 23,785,651 | ¥ 7,312,061 |
Note to Consolidated Statemen_6
Note to Consolidated Statements of Cash flows - Summary of Movements In Net Debt (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning Balance | ¥ 44,796,562 | ¥ 28,942,594 | ¥ 24,202,226 |
Cash flows | 5,725,310 | 14,031,853 | 5,965,931 |
C-round restructuring | (1,472,273) | ||
Conversion of Class C ordinary shares to ordinary shares upon IPO | (367,916) | ||
Redemption of convertible promissory note | (3,697,127) | ||
Acquisitions-leases | 589,488 | 501,663 | 653,251 |
Disposals-leases | (72,455) | (62,087) | (62,913) |
Foreign exchange adjustments | 2,566,575 | (640,396) | (1,779,539) |
Accrued expense | 3,206,362 | 2,022,935 | 1,803,827 |
Ending Balance | 53,114,715 | 44,796,562 | 28,942,594 |
Borrowings | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning Balance | 25,927,417 | 10,315,445 | 2,989,862 |
Cash flows | 8,675,099 | 15,242,903 | 7,583,729 |
Foreign exchange adjustments | 772,437 | (227,077) | (469,452) |
Accrued expense | 1,540,560 | 596,146 | 211,306 |
Ending Balance | 36,915,513 | 25,927,417 | 10,315,445 |
Bond payable | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Cash flows | 2,010,782 | ||
Foreign exchange adjustments | 75,524 | ||
Accrued expense | 57,042 | ||
Ending Balance | 2,143,348 | ||
Convertible promissory note payable | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning Balance | 10,669,498 | 10,117,188 | 10,014,377 |
Cash flows | (3,863,265) | (100,937) | (92,981) |
Redemption of convertible promissory note | (3,697,127) | ||
Foreign exchange adjustments | 1,009,422 | (239,754) | (687,967) |
Accrued expense | 1,045,611 | 893,001 | 883,759 |
Ending Balance | 5,164,139 | 10,669,498 | 10,117,188 |
Convertible redeemable preferred shares | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning Balance | 10,258,898 | ||
Cash flows | (928,242) | ||
C-round restructuring | (9,234,748) | ||
Conversion of Class C ordinary shares to ordinary shares upon IPO | (367,916) | ||
Foreign exchange adjustments | (262,678) | ||
Accrued expense | 534,686 | ||
Lease liabilities [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning Balance | 794,544 | 979,419 | 939,089 |
Cash flows | (604,172) | (663,160) | (596,575) |
Acquisitions-leases | 589,488 | 501,663 | 653,251 |
Disposals-leases | (72,455) | (62,087) | (62,913) |
Accrued expense | 41,402 | 38,709 | 46,567 |
Ending Balance | 748,807 | 794,544 | 979,419 |
Optionally convertible promissory notes [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning Balance | 7,405,103 | 7,530,542 | |
Cash flows | (493,134) | (446,953) | |
C-round restructuring | 7,762,475 | ||
Foreign exchange adjustments | 709,192 | (173,565) | (359,442) |
Accrued expense | 521,747 | 495,079 | 127,509 |
Ending Balance | ¥ 8,142,908 | ¥ 7,405,103 | ¥ 7,530,542 |
Share-based Payment - Additiona
Share-based Payment - Additional Information (Detail) ¥ in Thousands, ¥ / ADR in Millions | 12 Months Ended | ||||||
Sep. 04, 2019 shares | Aug. 31, 2015 shares | Dec. 31, 2014 shares | Dec. 31, 2022 CNY (¥) shares | Dec. 31, 2021 CNY (¥) shares ¥ / ADR | Dec. 31, 2020 CNY (¥) shares | Jul. 21, 2021 shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Share based payments number of shares granted | 15,000,000,000 | 8 | |||||
Valid term of share option plans | 10 years | ||||||
Share option plans vesting term | 4 years | ||||||
Weighted average remaining contract life for outstanding share options | 3 years 8 months 15 days | 4 years 5 months 19 days | |||||
Number of share options granted in share-based payment arrangement | 0 | 0 | 0 | ||||
Allocated share based compensation expense | ¥ | ¥ 45,919 | ¥ 133,395 | ¥ 165,248 | ||||
Share based payment transactions expenses with share option | ¥ | ¥ 27,000 | ¥ 4,000 | ¥ 95,000 | ||||
Stock repurchase program, Number of shares repurchased | 110,000,000 | ||||||
Phase I Share Incentive Plan [Member] | Top of range [member] | ClassA ordinary shares [Member] | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Share based payments number of shares granted | 20,644,803 | ||||||
Phase II Share Incentive Plan [Member] | Top of range [member] | ClassA ordinary shares [Member] | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Share based payments number of shares granted | 25,000,000 | ||||||
Two Thousand Ninteen Performance Share Unit Plan [Member] | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Number of share options granted in share-based payment arrangement | 39,500 | 1,589,900 | 1,990,600 | ||||
Share Based Payment Arrangement Options Granted Percentage Variation | zero to 100 | ||||||
Performance Share Units | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Number of share options granted in share-based payment arrangement | 40,000 | 1,590,000 | |||||
Allocated share based compensation expense | ¥ | ¥ 19,000 | ¥ 129,000 | ¥ 70,000 | ||||
Description of vesting requirements for share-based payment arrangement | four-year | ||||||
2014 Plan | Tun Kung Company Limited | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Stock repurchase program, Number of shares repurchased | 35,644,803,000 | ||||||
2015 Plan | Tun Kung Company Limited | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Stock repurchase program, Number of shares repurchased | 35,644,803,000 | ||||||
2019 Plan | Tun Kung Company Limited | |||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||||
Stock repurchase program, Number of shares repurchased | 35,644,803,000 |
Share-based Payment - Summary o
Share-based Payment - Summary of Employee Share Options (Detail) | 12 Months Ended | ||
Dec. 31, 2022 shares $ / shares | Dec. 31, 2021 shares $ / shares | Dec. 31, 2020 shares $ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outstanding, beginning of year | $ / shares | $ 76.12 | $ 74.22 | $ 74.99 |
Forfeited | $ / shares | 91.64 | 79.23 | |
Exercised during the year | $ / shares | 20.28 | 41.43 | |
Outstanding, end of year | $ / shares | $ 86.62 | $ 76.12 | $ 74.22 |
Outstanding, beginning of year | 17,821,000 | 21,460,000 | 25,344,000 |
Granted | 0 | 0 | 0 |
Forfeited | (1,702,000) | (3,884,000) | |
Exercised during the year | (2,821,000) | (1,937,000) | |
Outstanding, end of year | 15,000,000 | 17,821,000 | 21,460,000 |
Performance Share Units | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Outstanding, beginning of year | $ / shares | $ 109.47 | $ 140.87 | |
Granted | $ / shares | 60.78 | 82.6 | |
Forfeited | $ / shares | 286.29 | 152.7 | |
Exercised during the year | $ / shares | 112.47 | 141.69 | |
Outstanding, end of year | $ / shares | $ 83.73 | $ 109.47 | $ 140.87 |
Outstanding, beginning of year | 3,042,000 | 1,958,000 | |
Granted | 40,000 | 1,590,000 | |
Forfeited | (325,000) | (223,000) | |
Exercised during the year | (402,000) | (283,000) | |
Outstanding, end of year | 2,355,000 | 3,042,000 | 1,958,000 |
Share-based Payment - Summary_2
Share-based Payment - Summary of Options Granted Priced Using Binomial Option Pricing Model (Detail) - Performance Share Units | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Maximum [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Risk-free rate | 3.37% | 1.70% |
Expected volatility rate | 60.05% | 59.70% |
Expected dividend yield | 3.01% | 3% |
Minimum [Member] | ||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||
Risk-free rate | 1.36% | 0.94% |
Expected volatility rate | 55.40% | 55.40% |
Expected dividend yield | 0% | 0% |
Share-based payment - Summary_3
Share-based payment - Summary of Options at Different Exercise Price (Detail) - shares | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure Of Terms And Conditions Of Share Based Payment Arrangement Options At Different Exercise Price [Line Items] | ||||
Number of options | 15,000,000 | 17,821,000 | 21,460,000 | 25,344,000 |
Exercise price 8.00 per share option [Member] | ||||
Disclosure Of Terms And Conditions Of Share Based Payment Arrangement Options At Different Exercise Price [Line Items] | ||||
Number of options | 535,000 | |||
Exercise price 50.00 per share option [Member] | ||||
Disclosure Of Terms And Conditions Of Share Based Payment Arrangement Options At Different Exercise Price [Line Items] | ||||
Number of options | 3,738,000 | |||
Exercise price 98.06 per share option [Member] | ||||
Disclosure Of Terms And Conditions Of Share Based Payment Arrangement Options At Different Exercise Price [Line Items] | ||||
Number of options | 7,905,000 | |||
Exercise price 118.00 per share option [Member] | ||||
Disclosure Of Terms And Conditions Of Share Based Payment Arrangement Options At Different Exercise Price [Line Items] | ||||
Number of options | 2,822,000 |
Related Parties And Related P_3
Related Parties And Related Party Transactions - Additional Information (Detail) ¥ in Thousands, $ in Millions | 12 Months Ended | |||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) | |
Disclosure of transactions between related parties [line items] | ||||
Dividend paid | ¥ | ¥ (7,628,573) | ¥ 0 | ¥ 0 | |
Ping An Insurance Company of ChinaLtd [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Refund amount after revision of existing contract | ¥ | ¥ 440,000 | |||
An Ke Technology Company Limited [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Dividend paid | $ | $ 291 | |||
Ping An Insurance Overseas (Holdings) Limited [member] | ||||
Disclosure of transactions between related parties [line items] | ||||
Dividend paid | $ | $ 194 |
Related Parties And Related P_4
Related Parties And Related Party Transactions - Summary of Related Party Name (Detail) - Insurance (Group) Company of China, Ltd. and its subsidiaries | 12 Months Ended |
Dec. 31, 2022 | |
Disclosure Of Related Party Names [Line Items] | |
Name of related parties | Insurance (Group) Company of China, Ltd. and its subsidiaries |
Relationship with the Company | Significant influence on the Group and its subsidiaries |
Related Parties And Related P_5
Related Parties And Related Party Transactions - Summary of Related Party Transactions (Detail) - Ping An Insurance Company of ChinaLtd - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Sales and marketing expenses, general and administrative expenses, operation and servicing expenses, and technology and analytics expenses | |||
Technology platform based income | ¥ 1,529,485 | ¥ 1,414,885 | ¥ 635,143 |
Other income | 1,053,718 | 3,538,974 | 1,234,616 |
Investment income | 338,252 | 594,446 | 261,148 |
Finance costs-Interest income | 281,130 | 247,238 | 147,638 |
Finance costs-Interest expense | 25,435 | 6,151 | 67,468 |
Sales and marketing expenses general and administrative expenses operation and servicing expenses and technology and analytics expenses from related parties | 2,919,391 | 3,294,358 | 3,090,052 |
Other gains/(losses) – net | ¥ 350,329 | ¥ (211,674) | ¥ (499,543) |
Related Parties And Related P_6
Related Parties And Related Party Transactions - Summary of Related Party Transactions Outstanding (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Disclosure Of Outstanding Balances For Related Party Transactions [Line Items] | ||
Financial assets at amortized cost | ¥ 4,716,448 | ¥ 3,784,613 |
Borrowings | 36,915,513 | 25,927,417 |
Financial assets at fair value through profit or loss | 29,089,447 | 31,023,211 |
Trade related [member] | Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries [member] | ||
Disclosure Of Outstanding Balances For Related Party Transactions [Line Items] | ||
Accounts and other payables and contract liabilities and other liabilities / Payable to platform investors, accounts and other payables and contract liabilities and other liabilities | 560,888 | 723,646 |
Trade related [member] | Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries [member] | Cash [member] | ||
Disclosure Of Outstanding Balances For Related Party Transactions [Line Items] | ||
Cash / Account and other receivables and contract assets | 14,316,239 | 9,648,043 |
Trade related [member] | Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries [member] | Account and other receivables and contract assets [member] | ||
Disclosure Of Outstanding Balances For Related Party Transactions [Line Items] | ||
Cash / Account and other receivables and contract assets | 1,310,245 | 1,386,252 |
Non-trade related [member] | Ping An Insurance (Group) Company of China, Ltd. and its subsidiaries [member] | ||
Disclosure Of Outstanding Balances For Related Party Transactions [Line Items] | ||
Cash / Account and other receivables and contract assets | 1,641,361 | 1,665,875 |
Accounts and other payables and contract liabilities and other liabilities / Payable to platform investors, accounts and other payables and contract liabilities and other liabilities | 3,839,817 | 78,102 |
Financial assets at amortized cost | 2,504,622 | 1,279,156 |
Borrowings | ¥ 820,716 | |
Financial assets at fair value through profit or loss | ¥ 3,500,726 |
Related Parties And Related P_7
Related Parties And Related Party Transactions - Summary of Compensation of key Management Personnel (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Text block [abstract] | |||
Wages and salaries | ¥ 21,081 | ¥ 26,728 | ¥ 29,192 |
Welfare and other benefits | 16,038 | 29,804 | 34,560 |
Including: Bonuses | 8,617 | 24,066 | 28,061 |
Share-based payment | 22,719 | 56,317 | 68,771 |
Total | ¥ 59,838 | ¥ 112,849 | ¥ 132,523 |
Dividends - Additional Informat
Dividends - Additional Information (Detail) $ / shares in Units, ¥ in Thousands | 12 Months Ended | ||||||||
Dec. 31, 2022 CNY (¥) | Dec. 31, 2021 CNY (¥) | Dec. 31, 2020 CNY (¥) shares | Dec. 31, 2022 $ / shares | Oct. 13, 2022 shares | Aug. 03, 2022 USD ($) | Apr. 08, 2022 shares | Mar. 07, 2022 USD ($) | Nov. 08, 2021 | |
Disclosure of Dividends [Line Items] | |||||||||
Dividend paid | ¥ | ¥ (7,628,573) | ¥ 0 | ¥ 0 | ||||||
Cash dividend, declared | $ | $ 0.34 | $ 0.68 | |||||||
Outstanding shares | shares | 1,231,150,560 | 1,145,926,797 | 1,144,226,418 | ||||||
Adjusted conversion prices of notes, per share | $ 13.45 | ||||||||
Adjusted conversion prices of optionally convertible promissory notes, per share | $ 28.33 | ||||||||
Bottom of range [member] | |||||||||
Disclosure of Dividends [Line Items] | |||||||||
Percentage of recurring cash dividend on consolidated net profit | 20% | ||||||||
Top of range [member] | |||||||||
Disclosure of Dividends [Line Items] | |||||||||
Percentage of recurring cash dividend on consolidated net profit | 40% |
Contingent Liability - Addition
Contingent Liability - Additional Information (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 |
Text block [abstract] | ||
Other Contingent Liabilities | ¥ 0 | ¥ 0 |
Benefits and interests of dir_3
Benefits and interests of directors - Additional Information (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information of directors emoluments [line items] | |||
Total number of shares issued | 1,685,372.5 | 951,276.5 | 0 |
Bottom of range [member] | |||
Disclosure of detailed information of directors emoluments [line items] | |||
Share price, price per share | $ 2.96 | ||
Top of range [member] | |||
Disclosure of detailed information of directors emoluments [line items] | |||
Share price, price per share | $ 18.11 |
Benefits and interests of dir_4
Benefits and interests of directors - Summary of Detailed Information of Directors Emoluments (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information of directors emoluments [line items] | |||
Salaries and bonuses | ¥ 21,081 | ¥ 26,728 | ¥ 29,192 |
Other benefits | 16,038 | 29,804 | 34,560 |
Total | 59,838 | 112,849 | 132,523 |
Director [Member] | |||
Disclosure of detailed information of directors emoluments [line items] | |||
Director's fee | 2,448 | 2,580 | 3,157 |
Salaries and bonuses | 15,003 | 35,237 | 39,105 |
Social security and housing fund | 181 | 231 | 121 |
Other benefits | 4,762 | 4,808 | 5,214 |
Total | 22,394 | 42,856 | 47,597 |
Director [Member] | Executive Directors [member] | Cho Yong Suk [member] | |||
Disclosure of detailed information of directors emoluments [line items] | |||
Salaries and bonuses | 7,750 | 14,070 | 9,750 |
Social security and housing fund | 82 | 74 | 30 |
Other benefits | 2,242 | 2,147 | 2,239 |
Total | 10,074 | 16,291 | 12,019 |
Director [Member] | Executive Directors [member] | Gregory Dean Gibb [member] | |||
Disclosure of detailed information of directors emoluments [line items] | |||
Salaries and bonuses | 4,580 | 8,410 | 8,880 |
Social security and housing fund | 76 | 74 | 65 |
Other benefits | 2,433 | 1,963 | 2,156 |
Total | 7,089 | 10,447 | 11,101 |
Director [Member] | Executive Directors [member] | Ji Guangheng [member] | |||
Disclosure of detailed information of directors emoluments [line items] | |||
Salaries and bonuses | 2,673 | 12,090 | 10,375 |
Social security and housing fund | 23 | 83 | 26 |
Other benefits | 87 | 523 | 297 |
Total | 2,783 | 12,696 | 10,698 |
Director [Member] | Executive Directors [member] | Li Renjie [member] | |||
Disclosure of detailed information of directors emoluments [line items] | |||
Salaries and bonuses | 667 | 10,100 | |
Other benefits | 175 | 522 | |
Total | 842 | 10,622 | |
Director [Member] | Non-Executive Directors [member] | Zhang Xudong [member] | |||
Disclosure of detailed information of directors emoluments [line items] | |||
Director's fee | 500 | 500 | 400 |
Total | 500 | 500 | 400 |
Director [Member] | Non-Executive Directors [member] | Li Weidong [member] | |||
Disclosure of detailed information of directors emoluments [line items] | |||
Director's fee | 500 | 500 | 400 |
Total | 500 | 500 | 400 |
Director [Member] | Non-Executive Directors [member] | Kwong Che Keung Gordon [member] | |||
Disclosure of detailed information of directors emoluments [line items] | |||
Director's fee | 224 | ||
Total | 224 | ||
Director [Member] | Non-Executive Directors [member] | Ha Jiming [member] | |||
Disclosure of detailed information of directors emoluments [line items] | |||
Director's fee | 164 | 1,957 | |
Total | 164 | 1,957 | |
Director [Member] | Non-Executive Directors [member] | Yang Rusheng [member] | |||
Disclosure of detailed information of directors emoluments [line items] | |||
Director's fee | 500 | 500 | 176 |
Total | 500 | 500 | ¥ 176 |
Director [Member] | Non-Executive Directors [member] | Tang Yunwei [member] | |||
Disclosure of detailed information of directors emoluments [line items] | |||
Director's fee | 448 | 458 | |
Total | 448 | 458 | |
Director [Member] | Non-Executive Directors [member] | Li Xianglin [member] | |||
Disclosure of detailed information of directors emoluments [line items] | |||
Director's fee | 500 | 458 | |
Total | ¥ 500 | ¥ 458 |
Parent Company Only Condensed_3
Parent Company Only Condensed Financial Information - Summary of Investments Accounted for Using the Equity Method (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information of investments accounted for using the equity method [Line Items] | |||
Investments accounted for using equity method | ¥ 39,271 | ¥ 459,496 | |
Parent [member] | |||
Disclosure of detailed information of investments accounted for using the equity method [Line Items] | |||
Investments in subsidiaries | 106,249,382 | 95,412,806 | ¥ 77,046,809 |
Investments in associates | 39,271 | 459,496 | 489,931 |
Investments accounted for using equity method | ¥ 106,288,653 | ¥ 95,872,302 | ¥ 77,536,740 |
Parent Company Only Condensed_4
Parent Company Only Condensed Financial Information - Summary of Detailed Information about Parent Company Condensed Statements of Comprehensive Income (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure Of Detailed Information About Parent Company Condensed Statements of Comprehensive Income [Line Items] | |||
Investment income | ¥ 1,305,625 | ¥ 1,151,753 | ¥ 939,899 |
Total income | 58,115,728 | 61,834,907 | 52,045,724 |
Total expenses | |||
General and administrative expense | 2,830,119 | 3,559,323 | 2,975,544 |
Credit impairment losses | 16,550,465 | 6,643,727 | 3,035,188 |
Finance costs | (1,238,992) | (995,515) | (2,865,654) |
Other gains/(losses) - net | (3,459) | (499,379) | (384,270) |
Total expenses | 45,102,457 | 38,434,729 | 34,136,219 |
Income before income tax expenses | 13,013,271 | 23,400,178 | 17,909,505 |
Less: Income tax expenses | (4,238,232) | (6,691,118) | (5,633,265) |
other comprehensive income/(loss) | 8,775,039 | 16,709,060 | 12,276,240 |
Net profit attributable to: | |||
Owners of the Company | 8,699,369 | 16,804,380 | 12,354,114 |
Other comprehensive income/(loss), net of tax: | |||
-Exchange differences on translation of foreign operations | (289,599) | 66,501 | 289,593 |
Total comprehensive income for the year | 7,194,190 | 16,737,342 | 12,890,891 |
Total comprehensive income attributable to: | |||
Owners of the Company | 7,118,117 | 16,832,782 | 12,968,513 |
Parent [member] | |||
Disclosure Of Detailed Information About Parent Company Condensed Statements of Comprehensive Income [Line Items] | |||
Investment income | 38,695 | 60,006 | 113,793 |
Income from subsidiaries and VIEs | 10,683,088 | 18,035,463 | 15,149,508 |
Total income | 10,721,783 | 18,095,469 | 15,263,301 |
Total expenses | |||
General and administrative expense | (113,983) | (113,056) | (91,233) |
Credit impairment losses | 6,972 | 2,210 | (6,314) |
Finance costs | (1,753,486) | (1,380,292) | (2,901,518) |
Other gains/(losses) - net | (161,917) | 202,562 | 89,878 |
Total expenses | (2,022,414) | (1,288,576) | (2,909,187) |
Income before income tax expenses | 8,699,369 | 16,806,893 | 12,354,114 |
Less: Income tax expenses | 0 | (2,513) | 0 |
other comprehensive income/(loss) | 8,699,369 | 16,804,380 | 12,354,114 |
Net profit attributable to: | |||
Owners of the Company | 8,699,369 | 16,804,380 | 12,354,114 |
Other comprehensive income/(loss), net of tax: | |||
-Exchange differences on translation of foreign operations | (1,581,252) | 28,402 | 614,399 |
Total comprehensive income for the year | 7,118,117 | 16,832,782 | 12,968,513 |
Total comprehensive income attributable to: | |||
Owners of the Company | ¥ 7,118,117 | ¥ 16,832,782 | ¥ 12,968,513 |
Parent Company Only Condensed_5
Parent Company Only Condensed Financial Information - Summary of Detailed Information about Parent Company Condensed Statements Of Financial Position (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
ASSETS | ||||
Cash at bank | ¥ 43,882,127 | ¥ 34,743,188 | ¥ 24,158,568 | |
Financial assets at fair value through profit or loss | 29,089,447 | 31,023,211 | ||
Financial assets at amortized cost | 4,716,448 | 3,784,613 | ||
Accounts and other receivables and contract assets | 15,758,135 | 22,344,773 | ||
Investments accounted for using the equity method | 39,271 | 459,496 | ||
Total assets | 349,262,807 | 360,433,486 | ||
LIABILITIES | ||||
Borrowings | 36,915,513 | 25,927,417 | ||
Accounts and other payables and contract liabilities | 12,198,654 | 8,814,255 | ||
Convertible promissory note payable | 5,164,139 | 10,669,498 | ||
Optionally convertible promissory notes | 8,142,908 | 7,405,103 | ||
Other liabilities | 2,000,768 | 2,315,948 | ||
Total liabilities | 254,476,132 | 265,874,283 | ||
EQUITY | ||||
Share capital | 75 | 75 | ||
Share premium | 32,073,874 | 33,365,786 | ||
Treasury shares | (5,642,769) | (5,560,104) | ||
Other reserves | 2,158,432 | 9,304,995 | 7,418,710 | ¥ 4,582,291 |
Retained earnings | 64,600,234 | 55,942,943 | ||
Total equity | 94,786,675 | 94,559,203 | 83,151,321 | ¥ 48,145,417 |
Total liabilities and equity | 349,262,807 | 360,433,486 | ||
Parent [member] | ||||
ASSETS | ||||
Cash at bank | 1,644,302 | 1,813,616 | ||
Financial assets at fair value through profit or loss | 767,636 | 383,888 | ||
Financial assets at amortized cost | 155,602 | 8,846,623 | ||
Accounts and other receivables and contract assets | 1,627,343 | 4,641,662 | ||
Investments accounted for using the equity method | 106,288,653 | 95,872,302 | ¥ 77,536,740 | |
Total assets | 110,483,536 | 111,558,091 | ||
LIABILITIES | ||||
Borrowings | 139,054 | 319,926 | ||
Accounts and other payables and contract liabilities | 3,803,643 | 74,928 | ||
Convertible promissory note payable | 5,164,139 | 10,669,498 | ||
Optionally convertible promissory notes | 8,142,908 | 7,405,103 | ||
Other liabilities | 43,946 | 34,941 | ||
Total liabilities | 17,293,690 | 18,504,396 | ||
EQUITY | ||||
Share capital | 75 | 75 | ||
Share premium | 32,073,874 | 33,365,786 | ||
Treasury shares | (5,642,769) | (5,560,104) | ||
Other reserves | 2,158,432 | 9,304,995 | ||
Retained earnings | 64,600,234 | 55,942,943 | ||
Total equity | 93,189,846 | 93,053,695 | ||
Total liabilities and equity | ¥ 110,483,536 | ¥ 111,558,091 |
Parent Company Only Condensed_6
Parent Company Only Condensed Financial Information - Summary of Detailed Information about Parent Company Condensed Statements of Cash Flows (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities | |||
Cash used in operating activities | ¥ 14,730,306 | ¥ 12,995,271 | ¥ 11,344,711 |
Net cash generated from/(used in) operating activities | 4,455,301 | 4,987,472 | 7,121,282 |
Cash flows from investing activities | |||
Proceeds and interest from sale of investment assets | 99,031,093 | 132,430,620 | 151,232,710 |
Payment for acquisition of investment assets | (97,732,903) | (128,591,697) | (166,531,308) |
Net cash generated from/(used in) investing activities | 8,447,678 | 313,822 | (15,003,750) |
Cash flows from financing activities | |||
Proceeds from issuance of shares and other equity securities | 15,938 | 22,333 | 18,907,992 |
Proceeds from exercise of share-based payment | 95,911 | 43,456 | 0 |
Proceeds from borrowings | 9,046,338 | 7,262,435 | 10,589,599 |
Repayment of borrowings | (5,794,772) | (1,802,187) | (2,875,672) |
Repayment of convertible promissory note payable | 3,747,386 | 0 | 0 |
Payment for interest expenses | (1,213,186) | (867,715) | (1,151,421) |
Payment for dividend declared | 7,717,474 | 0 | 0 |
Payment for repurchase of ordinary shares | 0 | (6,438,455) | 0 |
Net cash generated from/(used in) financing activities | (9,918,803) | (2,448,028) | 24,873,923 |
Effect of exchange rate changes on cash and cash equivalents | 57,025 | (142,607) | (517,865) |
Net increase in cash and cash equivalents | 3,041,201 | 2,710,659 | 16,473,590 |
Add: Cash and cash equivalents at the beginning of the year | 26,496,310 | 23,785,651 | 7,312,061 |
Cash and cash equivalents at the end of the year | 29,537,511 | 26,496,310 | 23,785,651 |
Parent [member] | |||
Cash flows from operating activities | |||
Cash used in operating activities | 166,134 | (105,253) | (98,869) |
Net cash generated from/(used in) operating activities | 166,134 | (105,253) | (98,869) |
Cash flows from investing activities | |||
Capital contribution to consolidated entities | 0 | (109,635) | (1,898,193) |
Payment for advances to consolidated entities | (160,000) | (3,689,678) | (9,456,072) |
Receipts of repayments of the advances and capital return from consolidated entities | 12,450,046 | 7,249,502 | 2,374,680 |
Proceeds and interest from sale of investment assets | 419,538 | 6,522 | 1,875 |
Payment for acquisition of investment assets | (764,885) | (383,798) | 0 |
Net cash generated from/(used in) investing activities | 11,944,699 | 3,072,913 | (8,977,710) |
Cash flows from financing activities | |||
Proceeds from issuance of shares and other equity securities | 0 | 0 | 17,343,739 |
Proceeds from exercise of share-based payment | 95,911 | 43,456 | 0 |
Proceeds from borrowings | 134,228 | 319,535 | 0 |
Repayment of borrowings | (374,464) | (369,929) | (1,128,036) |
Repayment of convertible promissory note payable | (3,747,386) | 0 | 0 |
Payment for interest expenses | (621,246) | (555,304) | (1,034,617) |
Payment for dividend declared | (7,717,474) | 0 | 0 |
Payment for repurchase of ordinary shares | 0 | (6,438,455) | 0 |
Other financing activities | 0 | (1,131) | (4,745) |
Net cash generated from/(used in) financing activities | (12,230,431) | (7,001,828) | 15,176,341 |
Effect of exchange rate changes on cash and cash equivalents | (49,716) | (62,027) | (336,426) |
Net increase in cash and cash equivalents | (169,314) | (4,096,195) | 5,763,336 |
Add: Cash and cash equivalents at the beginning of the year | 1,813,616 | 5,909,811 | 146,475 |
Cash and cash equivalents at the end of the year | ¥ 1,644,302 | ¥ 1,813,616 | ¥ 5,909,811 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - Revision of Cash Dividend Policy [member] | Mar. 09, 2023 $ / shares |
Disclosure of non-adjusting events after reporting period [line items] | |
Cash dividends ordinary shares per share | $ 0.1 |
Bottom of range [member] | |
Disclosure of non-adjusting events after reporting period [line items] | |
Percentage of net profit distributed as cash dividend | 20% |
Top of range [member] | |
Disclosure of non-adjusting events after reporting period [line items] | |
Percentage of net profit distributed as cash dividend | 40% |