v3.26.1
Borrowings
 6 Months Ended
Jun. 30, 2026
Borrowings [abstract]  
Borrowings
21.
Borrowings
 
    
As at
  
    
December 31,
2025
RMB’million
     
June 30,
2026
RMB’million
  
Included in
non-current
liabilities:
      
Non-current
portion of long-term RMB bank borrowings, unsecured (Note (a))
      —         7,142  
  
 
 
     
 
 
  
Included in current liabilities:
      
RMB bank borrowings, unsecured (Note (b))
      —         5,973  
Current portion of long-term RMB bank borrowings, unsecured (Note (a))
      —         24  
  
 
 
     
 
 
  
     —         5,997  
  
 
 
     
 
 
  
     —         13,139  
  
 
 
     
 
 
  
 
  (a)
The aggregate principal amounts of long-term bank borrowings and applicable interest rates are as follows:
 
    
As at June 30, 2026
    
Amount
(RMB’million)
     
Interest rate
(per annum)
RMB bank borrowings
      7,121        LPR
-0.85% ~ 0.30%
  
 
RMB bank borrowings
     45      
3.10%
  
  
 
 
     
     7,166     
  
 
 
     
The long-term bank borrow
ing
s are repayable as follows:
 
    
As at
  
    
December 31,
2025
RMB’million
     
June 30,
2026
RMB’million
  
Within 1 year
      —         24  
Between 1 and 2 years
      —         214  
Between 2 and 5 years
      —         1,650  
Over 5 years
      —         5,278  
  
 
 
     
 
 
  
     —         7,166  
  
 
 
     
 
 
  

  (b)
The aggregate principal amounts of short-term bank borrowings and applicable interest rates are as follows
:
 
    
As at June 30, 2026
  
    
Amount
(RMB’million)
     
Interest rate
(per annum)
  
RMB bank borrowings
      5,973       
1.70
%
~ 
2.30%
  
As at June 30, 2026, the carrying amounts of borrowings approximated their fair values.
The Group had complied with all of the financial covenants of its borrowing facilities for the six months ended June 30, 2026.