Fair value measurement of financial instruments (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Disclosure of Fair Value of Financial Instruments [Line Items] |
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| Schedule of financial assets measured at fair value |
The following table presents the Group’s financial assets that are measured at fair value at the end of each period presented: | | | | | | | | | | | As of December 31, 2024 | Recurring fair value measurement | | Fair value | | Level 1 | | Level 2 | | Level 3 | | | RMB’000 | | RMB’000 | | RMB’000 | | RMB’000 | Assets | | | | | | | | | –Financial assets at FVTPL | | 1,742,065 | | 56,919 | | 1,685,146 | | — |
| | | | | | | | | | | As of June 30, 2025 | Recurring fair value measurement | | Fair value | | Level 1 | | Level 2 | | Level 3 | | | RMB’000 | | RMB’000 | | RMB’000 | | RMB’000 | Assets | | | | | | | | | –Financial assets at FVTPL | | 1,793,484 | | 40,871 | | 1,735,333 | | 17,280 |
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| Level 2 of fair value hierarchy [member] |
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| Disclosure of Fair Value of Financial Instruments [Line Items] |
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| Schedule of financial assets at FVTPL |
Financial assets at FVTPL consisted of the following: | | | | | | | As of December 31, | | As of June 30, | | | 2024 | | 2025 | | | RMB’000 | | RMB’000 | Aggregated cost basis | | 1,662,401 | | 1,696,312 | Gross unrealized holding gain | | 22,745 | | 39,021 | Aggregated fair value | | 1,685,146 | | 1,735,333 |
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| Schedule of recurring fair value measurements of the fair value hierarchy |
The tables below reflect the reconciliation from the opening balance to the closing balance for recurring fair value measurements of the fair value hierarchy for the six months ended June 30, 2025: | | | | | | | | | | | | | | | For the six months ended June 30, 2025 | | | | | | | | | | | Foreign | | | | | January 1, | | | | | | Included in | | exchange | | June 30, | | | 2025 | | Purchase | | Sell | | earnings | | effect | | 2025 | | | RMB’000 | | RMB’000 | | RMB’000 | | RMB’000 | | RMB’000 | | RMB’000 | Assets | | | | | | | | | | | | | Financial assets at FVTPL | | 1,685,146 | | 20,001 | | (1,714) | | 39,021 | | (7,121) | | 1,735,333 |
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| Level 3 of fair value hierarchy [member] |
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| Disclosure of Fair Value of Financial Instruments [Line Items] |
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| Schedule of recurring fair value measurements of the fair value hierarchy |
| | | | | | | | | | | | | | | For the six months ended June 30, 2025 | | | | | | | | | | | Foreign | | | | | January 1, | | | | | | Included in | | exchange | | June 30, | | | 2025 | | Purchase | | Sell | | earnings | | effect | | 2025 | | | RMB’000 | | RMB’000 | | RMB’000 | | RMB’000 | | RMB’000 | | RMB’000 | Assets | | | | | | | | | | | | | Financial assets at FVTPL | | — | | 17,280 | | — | | — | | — | | 17,280 |
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| Schedule of cash, cash equivalents, restricted cash, time deposits and financial assets at FVTPL |
Cash, cash equivalents, restricted cash, time deposits and financial assets at FVTPL, which are maintained at banks, consist of the following: | | | | | | | As of December 31, | | As of June 30, | | | 2024 | | 2025 | | | RMB’000 | | RMB’000 | RMB denominated: | | | | | Financial institutions in Chinese Mainland | | 503,800 | | 569,601 | USD denominated: | | | | | Financial institutions in Chinese Mainland | | 1,816,218 | | 1,288,818 | Financial institution in Hong Kong | | 11,671 | | 11,621 | Financial institution in the U.S. | | 462,786 | | 122,292 | Financial institution in the Singapore | | 3,767,075 | | 3,828,715 | Financial institution in the Middle East | | 10,561 | | 8,261 | Arab Emir. Dirham (“AED”) denominated: | | | | | Financial institution in the Middle East | | 3,198 | | 850 | European Dollar (“EUR”) denominated: | | | | | Financial institutions in Chinese Mainland | | 1,129 | | 317 | Financial institution in the Middle East | | 186 | | — | Financial institution in the Germany | | — | | 89 | Singapore Dollar (“SGD”) denominated: | | | | | Financial institution in the Singapore | | 11,453 | | 8,054 |
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