| Schedule of Maturity Analysis for Non-Derivative Financial Liabilities |
| | |
Less than 1 year | | |
Between 1
and 2
years | | |
Between 2
and 5
years | | |
Total | | |
Carrying amount | |
| | |
RMB’000 | | |
RMB’000 | | |
RMB’000 | | |
RMB’000 | | |
RMB’000 | |
| At December 31, 2024 | |
| | |
| | |
| | |
| | |
| |
| Trade payables | |
| 104,224 | | |
| — | | |
| — | | |
| 104,224 | | |
| 104,224 | |
| Financial liabilities included in other payables and accruals | |
| 137,401 | | |
| — | | |
| — | | |
| 137,401 | | |
| 137,401 | |
| Borrowings | |
| 788,994 | | |
| 1,532 | | |
| 52,547 | | |
| 843,073 | | |
| 824,045 | |
| Lease liabilities | |
| 1,410 | | |
| 1,284 | | |
| 2,221 | | |
| 4,915 | | |
| 4,552 | |
| Financial liabilities at fair value
through profit or loss | |
| 264,174 | | |
| — | | |
| — | | |
| 264,174 | | |
| 241,524 | |
| | |
| 1,296,203 | | |
| 2,816 | | |
| 54,768 | | |
| 1,353,787 | | |
| 1,311,746 | |
| At December 31, 2025 | |
| | | |
| | | |
| | | |
| | | |
| | |
| Trade payables | |
| 230,832 | | |
| — | | |
| — | | |
| 230,832 | | |
| 230,832 | |
| Financial liabilities included in other payables and accruals | |
| 327,138 | | |
| — | | |
| — | | |
| 327,138 | | |
| 327,138 | |
| Borrowings | |
| 517,071 | | |
| 94,546 | | |
| — | | |
| 611,617 | | |
| 582,724 | |
| Lease liabilities | |
| 1,529 | | |
| 1,133 | | |
| — | | |
| 2,662 | | |
| 2,590 | |
| | |
| 1,076,570 | | |
| 95,679 | | |
| — | | |
| 1,172,249 | | |
| 1,143,284 | |
|
| Schedule of Fair Value of Financial Instruments |
| | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Total | |
| | |
RMB’000 | | |
RMB’000 | | |
RMB’000 | | |
RMB’000 | |
| At December 31, 2024 | |
| | |
| | |
| | |
| |
| Assets: | |
| | |
| | |
| | |
| |
| Financial assets at fair value through
profit or loss | |
| — | | |
| — | | |
| 132,352 | | |
| 132,352 | |
| Financial assets at fair value
through other comprehensive income | |
| 66,642 | | |
| — | | |
| — | | |
| 66,642 | |
| Liabilities: | |
| | | |
| | | |
| | | |
| | |
| Financial liabilities at fair
value through profit or loss | |
| — | | |
| — | | |
| 241,524 | | |
| 241,524 | |
| At December 31, 2025 | |
| | | |
| | | |
| | | |
| | |
| Assets: | |
| | | |
| | | |
| | | |
| | |
| Financial assets at fair value through profit or loss | |
| — | | |
| — | | |
| 1,291 | | |
| 1,291 | |
| Financial assets at fair value
through other comprehensive income | |
| 92,396 | | |
| — | | |
| — | | |
| 92,396 | |
| Liabilities: | |
| | | |
| | | |
| | | |
| | |
| Financial liabilities at fair
value through profit or loss | |
| — | | |
| — | | |
| 22,044 | | |
| 22,044 | |
|
| Schedule of Significant Unobservable Inputs Used in Fair Value Measurement of Assets |
| Description | | Fair value at December 31, | | | Unobservable
inputs | | Range of inputs at
December 31, | | Relationship of unobservable inputs to fair value | | | | 2024 | | | 2025 | | | | | 2024 | | 2025 | | | | | | | RMB’000 | | | | RMB’000 | | | | | | | | | | | Convertible bonds | | | 241,524 | | | | — | | | Expected volatility | | Note 18 | | N/A | | The higher the expected volatility, the lower the fair value | | Warrants | | | — | | | | 22,044 | | | Expected volatility | | N/A | | Note 18 | | The higher the expected volatility, the higher the fair value |
|