| Accounts receivable |
25. Accounts receivable Accounts receivable consist of the following: | | | | | | | | | As of December 31, | | | 2023 | | 2024 | | 2025 | | | RMB | | RMB | | RMB | Accounts receivable | | 4,158,270 | | 4,386,872 | | 5,668,904 | Allowance for credit losses | | (723,655) | | (893,953) | | (1,020,321) | | | 3,434,615 | | 3,492,919 | | 4,648,583 |
Accounts receivable are mainly denominated in RMB. The movement of the allowances for credit losses is as follows: | | | | | | | | | For the Year Ended December 31, | | | 2023 | | 2024 | | 2025 | | | RMB | | RMB | | RMB | Balance at beginning of the year | | (692,722) | | (723,655) | | (893,953) | Provision | | (387,196) | | (510,885) | | (538,135) | Write-offs | | 356,263 | | 340,587 | | 411,767 | Balance at end of the year | | (723,655) | | (893,953) | | (1,020,321) |
The Group applies the simplified approach to providing for expected credit losses prescribed by IFRS 9, which permits the use of the lifetime expected loss provision for all accounts receivable. To measure the expected credit losses, accounts receivable have been grouped based on shared credit risk characteristics and the days past due. The Group’s expected loss rates are mainly determined based on the corresponding historical credit loss rates which are adjusted to reflect current and forward-looking information on macroeconomic factors affecting the ability of the customers to settle the receivables. The loss allowance provisions as of December 31, 2023, 2024 and 2025 are determined as follows: | | | | | | | | | | Within 1 year | | More than 1 year | | Total | | December 31, 2023 | | | | | | | | Expected loss rate | | 14.5 | % | 39.1 | % | 17.4 | % | Gross carrying amount | | 3,670,160 | | 488,110 | | 4,158,270 | | Loss provision | | (532,707) | | (190,948) | | (723,655) | |
| | | | | | | | | | Within 1 year | | More than 1 year | | Total | | December 31, 2024 | | | | | | | | Expected loss rate | | 13.1 | % | 71.0 | % | 20.4 | % | Gross carrying amount | | 3,833,730 | | 553,142 | | 4,386,872 | | Loss provision | | (501,414) | | (392,539) | | (893,953) | |
| | | | | | | | | | Within 1 year | | More than 1 year | | Total | | December 31, 2025 | | | | | | | | Expected loss rate | | 12.0 | % | 72.6 | % | 18.0 | % | Gross carrying amount | | 5,110,504 | | 558,400 | | 5,668,904 | | Loss provision | | (615,061) | | (405,260) | | (1,020,321) | |
|