Fair value of financial assets and liabilities

12 Months Ended

Dec. 31, 2024

Fair value of financial assets and liabilities

Fair Value Of Financial Assets And Liabilities

10. Fair value of financial assets and liabilities

The Company’s financial instruments consist of non-derivative financial assets and liabilities. The fair value of these non-derivative financial instruments is determined using internally generated valuation models, which are usually developed from generally accepted valuation models. The majority of the significant inputs into these models may not be observable in the market, and may be derived from interest rates based on assumptions. The selection of the appropriate valuation model, as well as the determination of key inputs used such as the expected future cash flows on the financial instrument, the probability of counterparty default and the appropriate discount rate to be used, require management judgment and estimation.

	As of December 31, 2024
	Fair value		Carrying Amount
	RMB’000		RMB’000
Financial assets
Cash, cash equivalents and restricted cash		79		79
Trade receivable		12,568		12,568
		12,647		12,647
Financial liabilities
Convertible notes payable		12,922		12,922
Trade payable		1,302		1,302
Other payable		387		387
		14,611		14,611

	As of December 31, 2023
	Fair value		Carrying Amount
	RMB’000		RMB’000
Financial assets
Cash, cash equivalents and restricted cash		2,533		2,533
Loans receivable		193,682		193,682
		196,215		196,215
Financial liabilities
Loans payable		161,439		161,439
Convertible notes payable		10,011		10,011
		171,450		171,450