Vala Inc. — Interim / Quarterly Report 2021

Sep 28, 2021

Management Discussion and Analysis	管理層討論及分析	2
Report on Review of Interim Financial Information	中期財務資料的審閱報告	20
Condensed Consolidated Interim Statement of Comprehensive Loss	簡明綜合中期全面虧損表	22
Condensed Consolidated Interim Statement of Financial Position	簡明綜合中期財務狀況表	24
Condensed Consolidated Interim Statement of Changes in Equity	簡明綜合中期權益變動表	26
Condensed Consolidated Interim Statement of Cash Flows	簡明綜合中期現金流量表	28
Notes to the Condensed Consolidated Interim Financial Information	簡明綜合中期財務資料附註	30
Other Information	其他資料	72

BUSINESS REVIEW

51 Credit Card Inc. (the "Company") and its subsidiaries (collectively, the "Group", "we" or "our") operate a widely-used credit card management platform, 51 Credit Card Manager App ("51 Credit Card Manager"). As at 30 June 2021, the number of registered users of 51 Credit Card Manager was approximately 86.6 million, and the number of credit cards we had managed cumulatively amounted to approximately 145.8 million. In September 2019, we launched a commercial information searching tool, Little Blue Book App ("Little Blue Book"), with an aim to provide users with valuable commercial information. As at 30 June 2021, Little Blue Book had approximately 6.3 million registered users.

In the first half of 2021, the scale of our credit facilitation business recovered steadily and through the adoption of stringent risk control measures, the delinquency rate of credit facilitation assets maintained at a low level. In addition, we adopted multiple measures to continue to intensify efforts in the collection of overdue assets generated from historical credit facilitation business, so that the recovery of overdue assets has maintained a positive momentum.

In 2020, we repositioned Little Blue Book as a "smart sales intelligence platform" and launched the "Blue Intelligence*(藍色線索)" product targeting small and medium-sized enterprises ("SMEs"). In the first half of 2021, we continued to optimize the product features and user experience of Little Blue Book. While expanding the corporate customers, we have also launched a membership system for individual users to provide them with corporate information inquiry services, sales leads and network referrals which help them achieve better sales performance. We believe that the corporate business and individual business of Little Blue Book can develop collaboratively and mutually promote each other.

In summary, in the first half of 2021, the scale of credit facilitation business recovered steadily, the delinquency rate maintained at a low level and the efficiency of overdue assets recovery maintained a positive momentum, providing a solid foundation for the Group's day-to-day operations and the development of new businesses such as the software as a service ("SaaS") business. For the six months ended 30 June 2021, our revenue was approximately RMB211.0 million, representing an increase of approximately 28.2% from approximately RMB164.6 million for the corresponding period in 2020; our operating loss was approximately RMB203.7 million, representing a decrease of approximately 73.4% from approximately RMB765.6 million for the corresponding period in 2020; and our net loss was approximately RMB194.4 million representing a decrease of approximately 74.4% from approximately RMB760.0 million for the corresponding period in 2020.

業務回顧

51信用卡有限公司(「本公司」)及其附屬公司(統稱 「本集團」或「我們」)運營一款廣泛使用的信用卡管 理平台51信用卡管家應用程式(「 51信用卡管家」)。 於2021年6月30日,51信用卡管家的註冊用戶數為約 86.6百萬名,累計管理信用卡數量約145.8百萬張。於 2019年9月,我們推出一款商業資訊搜索工具小藍本 應用程式(「小藍本」),旨在為用戶提供有價值的商 業資訊。於2021年6月30日,小藍本的註冊用戶數為 約6.3百萬名。

於2021年上半年,我們的信貸撮合業務規模穩步回 升,並通過採取嚴格的風險控制措施,使得信貸撮合 資產逾期率維持較低水平。此外,我們採取多種措施 繼續加大對歷史信貸撮合業務形成的逾期資產的回 收力度,使逾期資產的回收情況保持了良好態勢。

於2020年,我們將小藍本重新定位為「智能銷售情報 平台」,並上線了定位於服務中小型企業(「中小型企 業」)的產品「藍色線索」。於2021年上半年,我們不斷 優化小藍本的產品功能和使用體驗。在拓展企業客 戶的同時,我們也推出了針對個人用戶的會員體系, 為個人用戶提供企業資訊查詢服務、銷售線索及人 脈推薦等,幫助其更好的完成銷售業績。我們認為小 藍本的對企業業務及對個人業務可以協同發展並互 相促進。

綜上所述,於2021年上半年,我們的信貸撮合業務 規模穩步回升,違約率維持低水平,逾期資產回收 效率保持良好態勢,為本集團的日常經營和軟件即 服務(「 SaaS 」)等新業務的發展提供了堅實的基礎。 截至2021年6月30日止六個月,我們的收益為約人民 幣211.0百萬元,較2020年同期的約人民幣164.6百萬 元上升約28.2%;我們的經營虧損為約人民幣203.7百 萬元,較2020年同期的約人民幣765.6百萬元下降約 73.4%;及我們的淨虧損為約人民幣194.4百萬元,較 2020年同期的約人民幣760.0百萬元下降約74.4%。

As for non-IFRS measures, for the six months ended 30 June 2021, our non-IFRS adjusted operating profit was approximately RMB4.7 million, as compared with non-IFRS adjusted operating loss of approximately RMB732.8 million for the corresponding period in 2020; and our non-IFRS adjusted net profit was approximately RMB27.8 million, as compared with non-IFRS adjusted net loss of approximately RMB743.1 million for the corresponding period in 2020. Please refer to the section headed "FINANCIAL REVIEW – Non-IFRS measures" of this report for the definitions, explanations of usage and reconciliations of non-IFRS measures.

非國際財務報告準則計量方面,截至2021年6月30日止 六個月,我們的非國際財務報告準則經調整經營溢利 為約人民幣4.7百萬元,而2020年同期的非國際財務報 告準則經調整經營虧損為約人民幣732.8百萬元;及我 們的非國際財務報告準則經調整淨溢利為約人民幣 27.8百萬元,而2020年同期的非國際財務報告準則經調 整淨虧損為約人民幣743.1百萬元。請參考本報告的「財 務回顧-非國際財務報告準則計量」一節對非國際財 務報告準則計量的定義,用法解釋及對賬。

					Period on
					period
					change
					同比變動
		Percentage of		Percentage of
	RMB' 000	revenue	RMB' 000	revenue	Percentage
		佔收益的		佔收益的
	人民幣千元	百分比	人民幣千元	百分比	百分比
	(unaudited)		(unaudited)
	(未經審核)		(未經審核)
	(approximate)	(approximate)	(approximate)	(approximate)	(approximate)
	(約)	(約)	(約)	(約)	(約)
					28.2%
					88.4%
					7.8%
					-27.6%
					100.6%
					-45.2%
					-73.4%
					-74.4%
					N/A 不適用
經調整淨溢利╱(虧損)(2)	27,784		(743,067)		N/A 不適用
	收益 信貸撮合及服務費 支付服務費 信用卡科技服務費 SaaS服務費 其他收益 期內經營虧損 期內淨虧損 非國際財務報告準則計量 非國際財務報告準則期內 經調整經營溢利╱(虧損)(1) 非國際財務報告準則期內	210,985 135,583 22,182 19,200 12,482 21,538 (203,722) (194,384) 4,714	2021 100.0% 64.3% 10.5% 9.1% 5.9% 10.2%	For the six months ended 30 June 截至6月30日止六個月 164,596 71,974 20,573 26,530 6,221 39,298 (765,598) (760,046) (732,759)	2020 100.0% 43.7% 12.5% 16.1% 3.8% 23.9%

Notes:

• (1) Non-IFRS adjusted operating profit/(loss) for the period is defined as operating profit/(loss) for the six months ended 30 June 2021 and 2020 excluding sharebased compensation expenses, fair value loss/(gain) of financial assets at fair value through profit or loss ("FVPL"), impairment loss of intangible assets and impairment loss of investments accounted for using equity method. For more details, please see the section headed "FINANCIAL REVIEW – Non-IFRS measures" below.
• (2) Non-IFRS adjusted net profit/(loss) for the period is defined as net profit/(loss) for the six months ended 30 June 2021 and 2020 excluding share-based compensation expenses, fair value loss/(gain) of financial assets/(liabilities) at FVPL, impairment loss of intangible assets and impairment loss of investments accounted for using equity method. For more details, please see the section headed "FINANCIAL REVIEW – Non-IFRS measures" below.

1. Credit Facilitation Service

In the first half of 2021, the total volume of credit facilitation business was approximately RMB1,777.1 million, all being businesses under the cooperation with financial institutions, representing an increase of approximately 16.9% from approximately RMB1,520.6 million for the first half of 2020. Through the adoption of stringent risk control measures, the Day-1 delinquency rate (defined as the total amount of overdue principal as of a specified date divided by the total amount of principal due for repayment as of such date) of the credit facilitation assets facilitated in the first half of 2021 was lower than 5.0%, and the total risk level of the credit facilitation business maintained at a low level. Meanwhile, the 30-day collection rate of overdue assets was approximately 90.0%. The average tenure of loans decreased from approximately 9.9 months for the corresponding period in 2020 to approximately 8.7 months in the first half of 2021, and the average amount of loans decreased from approximately RMB12,000 for the corresponding period in 2020 to approximately RMB10,000 in the first half of 2021.

附註︰

• (1) 非國際財務報告準則期內經調整經營溢利╱(虧損)定 義為截至2021年及2020年6月30日止六個月不包含以 股份為基礎的薪酬開支、按公允價值計入損益(「按公 允價值計入損益」)的金融資產的公允價值虧損╱(收 益)、無形資產減值損失及使用權益法入賬的投資的減 值損失的經營溢利╱(虧損)。詳情請參閱下文「財務回 顧—非國際財務報告準則計量」一節。
• (2) 非國際財務報告準則期內經調整淨溢利╱(虧損)定義 為截至2021年及2020年6月30日止六個月不包含以股份 為基礎的薪酬開支、按公允價值計入損益的金融資產╱ (負債)的公允價值虧損╱(收益)、無形資產減值損失 及使用權益法入賬的投資的減值損失的淨溢利╱(虧 損)。詳情請參閱下文「財務回顧—非國際財務報告準則 計量」一節。

1. 信貸撮合服務

於2021年上半年,信貸撮合業務的總量為約人 民幣1,777.1百萬元,全部為與金融機構合作的業 務,較2020年上半年的約人民幣1,520.6百萬元增 加約16.9%。通過採取嚴格的風險控制措施,於 2021年上半年撮合的信貸撮合業務資產的首日 逾期率(即某一特定日期的逾期本金總額除以當 日的到期本金總額)低於5.0%,信貸撮合業務的 整體逾期率維持在較低水平。同時,逾期資產的 30日催回比率約為90.0%。貸款平均期限由2020 年同期的約9.9個月下降至2021年上半年的約8.7 個月,平均貸款金額由2020年同期的約人民幣 12,000元下降至2021年上半年的約人民幣10,000 元。

2. SaaS Business

Our SaaS business consists of Little Blue Book business and smart retail business. Little Blue Book is a smart sales intelligence platform that generates subscription income from corporate and individual customers. Our smart retail business serves corporate customers, and obtains fixed income from system development and hardware and software sales and service fees based on customer usage such as transaction payment amount, cloud server usage and SMS traffic. Revenue from SaaS business increased from approximately RMB6.2 million for the corresponding period in 2020 to approximately RMB12.5 million for the six months ended 30 June 2021.

3. Credit Card Technology Service

In the first half of 2021, credit card technology service mainly focuses on the issuance of co-branded cards under the cooperation with financial institutions. We evaluate the investment in each business line based on market conditions from time to time. As the amount of investment in the co-branded card business was reduced in the first half of 2021, the revenue from credit card technology service decreased from approximately RMB26.5 million for the corresponding period in 2020 to approximately RMB19.2 million for the six months ended 30 June 2021.

2. SaaS業務

我們的SaaS業務由小藍本業務和智慧零售業務 組成。小藍本是一款智能銷售情報平台,自企 業客戶和個人用戶處取得訂閱收入。我們的智 慧零售業務服務企業客戶,從系統開發及軟硬 件銷售獲得定額收入,並根據客戶使用量如交 易支付額、雲服務器使用量及短信流量等獲得 服務收入。SaaS業務收益由2020年同期的約人 民幣6.2百萬元上升至2021年上半年的約人民 幣12.5百萬元。

3. 信用卡科技服務

於2021年上半年,信用卡科技服務以與金融機 構合作發行聯名卡業務為主。我們根據市場情 況不時評估在各業務線的投入。由於2021年上 半 年 在 聯 名 卡 業 務 中 的 投 入 有 所 下 降,因 此 信用卡科技服務收益由2020年同期的約人民 幣26.5百萬元下降至2021年上半年的約人民幣 19.2百萬元。

FINANCIAL REVIEW

Revenue

Our total revenue increased from approximately RMB164.6 million for the six months ended 30 June 2020 to approximately RMB211.0 million for the six months ended 30 June 2021.

Credit facilitation and service fee increased from approximately RMB72.0 million for the six months ended 30 June 2020 to approximately RMB135.6 million for the six months ended 30 June 2021. We generally collect credit facilitation service fee from borrowers according to the pre-confirmed fee schedules, and recognize in our consolidated financial statements the upfront credit facilitation service fee at the inception of the loan and the post credit facilitation service fee over the loan period. The increase of credit facilitation service fee was mainly attributable to the increase of the credit facilitation business volume and the increased rate of return along with the decrease in the risk level of credit facilitation business in the first half of 2021.

Payment service fee increased from approximately RMB20.6 million for the six months ended 30 June 2020 to approximately RMB22.2 million for the six months ended 30 June 2021, mainly due to the increase in business volume of payment service in the first half of 2021.

SaaS service fee increased from approximately RMB6.2 million for the six months ended 30 June 2020 to approximately RMB12.5 million for the six months ended 30 June 2021, mainly due to the increase in the transaction volume of smart retail business and the increase in the subscription income of Little Blue Book in the first half of 2021.

Credit card technology service fee decreased from approximately RMB26.5 million for the six months ended 30 June 2020 to approximately RMB19.2 million for the six months ended 30 June 2021. In the first half of 2021, credit card technology service mainly focuses on the issuance of co-branded cards under the cooperation with financial institutions. After evaluating the market situations, we reduced the investment in the co-branded card business, which led to a decrease in credit card technology service fee.

財務回顧

收益

我們的收益總額由截至2020年6月30日止六個月的約 人民幣164.6百萬元增加至截至2021年6月30日止六個 月的約人民幣211.0百萬元。

信貸撮合及服務費由截至2020年6月30日止六個月 的約人民幣72.0百萬元增加至截至2021年6月30日止 六個月的約人民幣135.6百萬元。我們一般根據預先 確認的收費表向借款人收取信貸撮合服務費,在貸 款辦理時在合併財務報表中確認前期信貸撮合服務 費,並於貸款期內確認後期信貸撮合服務費。信貸撮 合服務費的增加主要歸因於2021年上半年信貸撮合 業務量的增加,以及因信貸撮合業務風險下降而帶 來的收益率提升。

支付服務費由截至2020年6月30日止六個月的約人民 幣20.6百萬元增加至截至2021年6月30日止六個月的 約人民幣22.2百萬元,主要由於2021年上半年支付服 務業務量的增加。

SaaS服務費由截至2020年6月30日止六個月的約人民 幣6.2百萬元增加至截至2021年6月30日止六個月的約 人民幣12.5百萬元,主要由於2021年上半年智慧零售 業務成交量的增加和小藍本的訂閱收入的提升。

信用卡科技服務費由截至2020年6月30日止六個月的 約人民幣26.5百萬元減少至截至2021年6月30日止六 個月的約人民幣19.2百萬元。於2021年上半年,信用 卡科技服務以與金融機構合作發行聯名卡為主。我 們評估市場情況後減少了對聯名卡業務的投入,因 而導致信用卡科技服務費的下降。

Other revenue decreased from approximately RMB39.3 million for the six months ended 30 June 2020 to approximately RMB21.5 million for the six months ended 30 June 2021, mainly due to the decrease in the referral service fee from approximately RMB21.3 million for the six months ended 30 June 2020 to approximately RMB3.5 million for the six months ended 30 June 2021. In the first half of 2021, the number of referral service partners decreased, thus resulting in a decrease in business volume as compared with the corresponding period in 2020.

Operating expenses

Total operating expenses decreased by approximately 55.4% from approximately RMB930.2 million for the six months ended 30 June 2020 to approximately RMB414.7 million for the six months ended 30 June 2021.

Origination and servicing expenses decreased by approximately 16.7% from approximately RMB136.8 million for the six months ended 30 June 2020 to approximately RMB113.9 million for the six months ended 30 June 2021, including (i) the depreciation and amortization expenses for the six months ended 30 June 2021 decreased by approximately 62.1% to approximately RMB7.7 million from approximately RMB20.3 million for the corresponding period in 2020 due to the expiration of certain leases and useful lives of certain fixed assets; (ii) the fund transfer charges for the six months ended 30 June 2021 decreased by approximately 30.4% to approximately RMB24.3 million from approximately RMB34.9 million for the six months ended 30 June 2020 mainly due to the decrease in the volume of repayment of credit facilitation business in the first half of 2021 as compared with that for the corresponding period in 2020; and (iii) the loan referral service expenses increased to approximately RMB4.4 million for the six months ended 30 June 2021 from nil for the corresponding period in 2020 because the amount of loan referred by thirdparty business partners increased.

Sales and marketing expenses for the six months ended 30 June 2021 was approximately RMB23.0 million, which was basically the same as approximately RMB22.7 million for the six months ended 30 June 2020. In the first half of 2021, we optimized the investment model and achieved growth in the scale of business on the basis that sales and marketing expenses were basically the same compared to the corresponding period in 2020.

其他收益由截至2020年6月30日止六個月的約人民幣 39.3百萬元減少至截至2021年6月30日止六個月的約 人民幣21.5百萬元,主要由於介紹服務費由截至2020 年6月30日止六個月的約人民幣21.3百萬元減少至截 至2021年6月30日止六個月的約人民幣3.5百萬元。 2021年上半年介紹服務合作夥伴數量下降,因而業 務量較2020年同期有所下降。

經營開支

經營開支總額由截至2020年6月30日止六個月的約人 民幣930.2百萬元減少約55.4%至截至2021年6月30日 止六個月的約人民幣414.7百萬元。

辦理及服務開支由截至2020年6月30日止六個月的約 人民幣136.8百萬元減少約16.7%至截至2021年6月30 日止六個月的約人民幣113.9百萬元,其中(i)由於部 分租約及固定資產的可使用年期到期,令截至2021 年6月30日止六個月的折舊攤銷費用由2020年同期的 約人民幣20.3百萬元減少約62.1%至約人民幣7.7百萬 元;(ii)資金轉賬費用由截至2020年6月30日止六個月 的約人民幣34.9百萬元減少約30.4%至截至2021年6月 30日止六個月的約人民幣24.3百萬元,主要由於2021 年上半年的信貸撮合業務還款金額較2020年同期有 所下降;及(iii)通過第三方合作夥伴轉介的貸款額增 加,令信貸介紹服務費開支由2020年同期的零增加 至截至2021年6月30日止六個月的約人民幣4.4百萬 元。

銷售及營銷開支截至2021年6月30日止六個月為約人 民幣23.0百萬元,與截至2020年6月30日止六個月的 約人民幣22.7百萬元基本持平。於2021年上半年,我 們優化了投放模型,在銷售及營銷開支與2020年同 期基本持平的基礎上,實現了業務規模的增長。

General and administrative expenses decreased by approximately 14.8% from approximately RMB81.5 million for the six months ended 30 June 2020 to approximately RMB69.4 million for the six months ended 30 June 2021, mainly because professional services fees decreased to approximately RMB5.1 million from approximately RMB18.7 million for the corresponding period in 2020 as a result of the reduction in our consulting services expenses in order to save cost.

Research and development expenses decreased by approximately 37.4% from approximately RMB39.0 million for the six months ended 30 June 2020 to approximately RMB24.4 million for the six months ended 30 June 2021, mainly due to the decrease in the average headcount of research and development staff, leading to a decrease by approximately 28.1% to approximately RMB19.2 million in employee benefit expenses for research and development department for the six months ended 30 June 2021 from approximately RMB26.7 million for the corresponding period in 2020.

Expected credit loss ("ECL") decreased by approximately 97.4% to approximately RMB16.8 million for the six months ended 30 June 2021 from approximately RMB639.8 million for the six months ended 30 June 2020, mainly because in the first half of 2021, the impact of the exit of P2P business ("P2P Exiting") and the pandemic of the coronavirus disease ("COVID-19") on our business was weakened substantially. Meanwhile, we adopted stringent risk control measures and the risk level of the credit facilitation business maintained at a low level.

Other losses, net increased from approximately RMB10.4 million for the six months ended 30 June 2020 to approximately RMB167.2 million for the six months ended 30 June 2021, which mainly represents that (i) the impairment loss on license under intangible assets accrued with reference to the market prices in the same period increased from nil in the corresponding period in 2020 to approximately RMB148.9 million for the six months ended 30 June 2021; and (ii) the fair value (loss)/gain on financial assets at FVPL changed to a loss of approximately RMB27.1 million for the six months ended 30 June 2021 from a gain of approximately RMB15.9 million for the six months ended 30 June 2020, as the business of several investees was underperformed in the first half of 2021, resulting in a lower market value as at 30 June 2021 as compared to that of 31 December 2020.

一般及行政開支由截至2020年6月30日止六個月的約 人民幣81.5百萬元減少約14.8%至截至2021年6月30日 止六個月的約人民幣69.4百萬元,主要是由於為節約 成本,我們縮減了諮詢服務開支,令專業服務費由 2020年同期的約人民幣18.7百萬元減少至約人民幣 5.1百萬元。

研發開支由截至2020年6月30日止六個月的約人民幣 39.0百萬元減少約37.4%至截至2021年6月30日止六個 月的約人民幣24.4百萬元,主要由於研發人員平均人 數的減少,使得截至2021年6月30日止六個月的研發 部門的僱員福利開支由2020年同期的約人民幣26.7 百萬元減少約28.1%至約人民幣19.2百萬元。

預期信用損失(「預期信用損失」)由截至2020年6月30 日止六個月的約人民幣639.8百萬元減少約97.4%至截 至2021年6月30日止六個月的約人民幣16.8百萬元, 主要由於2021年上半年,P2P清退(「 P2P清退」)和新 型冠状病毒(「COVID-19」)疫情對我們業務的影響大 幅減弱,同時我們採取了嚴格的風控措施,信貸撮合 業務的風險維持在較低水平。

其他虧損淨額由截至2020年6月30日止六個月的約人 民幣10.4百萬元增加至截至2021年6月30日止六個月 的約人民幣167.2百萬元,主要指(i)無形資產中的牌 照參照同期市場價格計提的資產減值損失由2020年 同期的零增加至截至2021年6月30日止六個月的約人 民幣148.9百萬元;及(ii)按公允價值計入損益的金融 資產的公允價值(虧損)╱收益由截至2020年6月30日 止六個月的收益約人民幣15.9百萬元轉為截至2021 年6月30日止六個月的虧損約人民幣27.1百萬元,由 於2021年上半年數家被投資公司的經營業績表現不 佳,導致於2021年6月30日的市場估值較2020年12月 31日有所下降。

Share of net loss of associates accounted for using equity method

Share of net loss of associates accounted for using equity method decreased by approximately 73.9% from approximately RMB4.6 million for the six months ended 30 June 2020 to approximately RMB1.2 million for the six months ended 30 June 2021, because of the decrease in losses of several associates in the first half of 2021.

Fair value (loss)/gain of financial liabilities at FVPL

Fair value (loss)/gain of financial liabilities at FVPL changed from a gain of approximately RMB15.9 million for the six months ended 30 June 2020 to a loss of approximately RMB13.7 million for the six months ended 30 June 2021, mainly because of the increased market value of such liabilities as at 30 June 2021 as compared to that of 31 December 2020.

Finance (expenses)/income, net

Finance (expenses)/income, net changed from income of approximately RMB4.0 million for the six months ended 30 June 2020 to expenses of approximately RMB4.3 million for the six months ended 30 June 2021. Such decrease mainly reflected the decrease in interest income due to the decrease in the amount of bank deposits.

Income tax credit/(expense)

Income tax credit/(expenses) changed from expenses of approximately RMB9.7 million for the six months ended 30 June 2020 to credit of approximately RMB28.5 million for the six months ended 30 June 2021, mainly due to the derecognition of deferred income tax liabilities related to impairment loss on license under intangible assets which led to the increase of income tax credit.

分佔使用權益法入賬的聯營公司虧損淨額

分佔使用權益法入賬的聯營公司虧損淨額由截至 2020年6月30日止六個月的約人民幣4.6百萬元減少 約73.9%至截至2021年6月30日止六個月的約人民幣 1.2百萬元,由於數家聯營公司於2021年上半年虧損 有所減少。

按公允價值計入損益的金融負債的公允價值(虧損)╱ 收益

按公允價值計入損益的金融負債的公允價值(虧損) ╱收益由截至2020年6月30日止六個月的收益約人民 幣15.9百萬元轉為截至2021年6月30日止六個月的虧 損約人民幣13.7百萬元,主要由於該負債於2021年6 月30日的市場價值較2020年12月31日的市場價值有 所上升。

財務(開支)╱收益淨額

財務(開支)╱收益淨額由截至2020年6月30日止六個 月的收益約人民幣4.0百萬元轉為截至2021年6月30日 止六個月的開支約人民幣4.3百萬元。該項減少主要 反映銀行存款金額減少導致的利息收入減少。

所得稅抵免╱(開支)

所得稅抵免╱(開支)由截至2020年6月30日止六個月 的開支約人民幣9.7百萬元轉為截至2021年6月30日止 六個月的抵免約人民幣28.5百萬元,主要是由於無形 資產中的牌照減值損失相關的遞延所得稅負債的沖 銷,導致所得稅抵免的增加。

Loss for the period

As a result of the foregoing, our loss for the period decreased from approximately RMB760.0 million for the six months ended 30 June 2020 to approximately RMB194.4 million for the six months ended 30 June 2021, primarily due to in the first half of 2021, (i) the rebound in business scale of credit facilitation business which resulted in an increase in revenue; (ii) the impact of the P2P Exiting and COVID-19 pandemic which have been weakened substantially, and through the adoption of stringent risk control measures, the delinquency rate of credit facilitation assets maintained at a low level, which led to a significant decrease in the amount of ECL under IFRS 9 as compared to the corresponding period in 2020; and (iii) partially offset by the impairment loss on license under intangible assets of approximately RMB148.9 million accrued with reference to the market prices in the same period.

Non-IFRS measures

To supplement our consolidated financial results that have been prepared in accordance with IFRSs, we also use adjusted operating profit/(loss) and adjusted net profit/(loss) as additional financial indicators, which are not presented in accordance with IFRSs. We believe that adjusted operating profit/(loss) and adjusted net profit/(loss) facilitate comparisons of operating performance from period to period by eliminating potential impacts of items which the management considers non-indicative of our operating performance, and provide useful information to investors and others in understanding and evaluating our consolidated results of operations. The use of adjusted operating profit/(loss) and adjusted net profit/(loss) have limitations as an analytical tool, and such measures should not be considered as an isolation from, or as a substitute for an analysis of, our results of operations or financial conditions as prepared under IFRSs. As non-IFRS measures do not have a standardised meaning prescribed by IFRSs, such non-IFRS measures may be defined differently from similar terms presented by other companies, and may not be comparable to other similarly titled measures presented by other companies.

期內虧損

由於上述理由,我們的期內虧損由截至2020年6月30 日止六個月的約人民幣760.0百萬減少至截至2021年 6月30日止六個月的約人民幣194.4百萬元,主要由於 於2021年上半年(i)信貸撮合業務規模回升導致收益 增加;(ii) P2P清退和COVID-19疫情的影響已大幅減 弱,同時通過我們採取的嚴格的風險控制措施,信貸 撮合資產的逾期率維持低水平,導致國際財務報告 準則第9號下的預期信用損失金額較2020年同期大幅 減少;及(iii)部分被無形資產中的牌照參照同期市場 價格計提的減值損失約人民幣148.9百萬元所抵銷。

非國際財務報告準則計量

為補充我們根據國際財務報告準則呈列的綜合財務 報表,我們亦使用經調整經營溢利╱(虧損)及經調 整淨溢利╱(虧損)作為額外財務指標,而經調整經 營溢利╱(虧損)及經調整淨溢利╱(虧損)並非根據 國際財務報告準則呈列。我們認為,通過撇除管理層 認為不能反映我們經營業績的項目的潛在影響,經 調整經營溢利╱(虧損)及經調整淨溢利╱(虧損)為 不同期間之經營業績的對比提供了便利,也為投資 者及其他人士提供有用資訊,有助於彼等了解並評 估我們的綜合經營業績。使用經調整經營溢利╱(虧 損)及經調整淨溢利╱(虧損)作為分析工具存在局 限,該等計量不應脫離我們根據國際財務報告準則 呈列的經營業績或財務狀況加以考慮或作為其替代 分析加以考慮。由於非國際財務報告準則計量沒有 標準化的國際財務報告準則下的定義,該等非國際 財務報告準則計量的定義或會與其他公司所呈列類 似定義不同,亦未必可與其他公司所呈列類似計量 項目比較。

When measuring adjusted operating profit/(loss) and adjusted net profit/(loss) for the period, we excluded share-based compensation expenses, fair value loss/ (gain) of financial assets/(liabilities) at FVPL, impairment loss of intangible assets and impairment loss of investments accounted for using equity method from operating loss and net loss, respectively. We excluded these items because they were either non-operating in nature or not indicative of our core operating results and business outlook, or did not generate any cash outflows: (i) sharebased compensation expenses were excluded because they were non-cash in nature and did not result in cash outflow. In particular, as the types of sharebased compensation and valuation methodologies used may vary in different companies, we believed that excluding such item provides investors and others with greater visibility to the underlying performance of our business operations; (ii) fair value loss/(gain) of financial assets/(liabilities) at FVPL were non-cash in nature and did not result in cash outflow. We believe that this item was not reflective of our ongoing operating results and there was no direct correlation to the operation of our business; and (iii) impairment loss of intangible assets and impairment loss of investments accounted for using equity method were non-cash items and there were no direct correlation to the operation of our business.

The following tables reconcile the non-IFRS adjusted operating profit/(loss) for the period and the adjusted net profit/(loss) for the period presented to the most directly comparable financial measures calculated and presented in accordance with IFRSs, which are operating loss for the period and net loss for the period:

在計量期內經調整經營溢利╱(虧損)及經調整淨溢 利╱(虧損)時,我們從經營虧損和淨虧損中分別排 除以股份為基礎的薪酬開支、按公允價值計入損益 的金融資產╱(負債)的公允價值虧損╱(收益)、無 形資產減值損失及使用權益法入賬的投資的減值損 失。我們排除該等項目,因為其屬非經營性質,或無 法反映我們的核心經營業績及業務前景,或不會產 生任何現金流出:(i)以股份為基礎的薪酬開支被排 除在外,是因為其為非現金性質,且不會導致現金流 出。具體而言,由於不同公司可使用的獎勵類型及估 值方法應用的多樣性,我們認為將此項目排除能使 投資者及其他人士更清楚了解我們的業務經營相關 表現;(ii)按公允價值計入損益的金融資產╱(負債) 的公允價值虧損╱(收益)為非現金性質,且不會導 致現金流出。我們認為該項目不能反映出我們的持 續經營業績,且與我們的業務經營無直接關聯;(iii) 無形資產減值損失及使用權益法入賬的投資的減值 損失屬於非現金項目且與我們的業務經營無直接關 聯。

下表載列非國際財務報告準則期內經調整經營溢利 ╱(虧損)及期內經調整淨溢利╱(虧損)與根據國際 財務報告準則計算及呈列的最直接可資比較財務計 量(即期內經營虧損和期內淨虧損)的對賬:

		For the six months
		ended 30 June
		截至6月30日止六個月
		2021	2020
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Unaudited)
		(未經審核)	(未經審核)
Non-IFRS adjusted operating profit/(loss)	非國際財務報告準則經調整
	經營溢利╱(虧損)	(203,722)	(765,598)
Operating loss	經營虧損
Adjusted for:	就以下各項做出調整:
Share-based compensation expenses	以股份為基礎的薪酬開支	32,471	24,219
Fair value loss/(gain) of financial assets at	按公允價值計入損益的
FVPL	金融資產的公允價值
	虧損╱(收益)	27,062	(15,945)
Impairment loss of intangible assets	無形資產減值損失	148,903	15,206
Impairment loss of investments accounted	使用權益法入賬的投資的
for using equity method	減值損失	–	9,359
Non-IFRS adjusted operating profit/(loss)	非國際財務報告準則經調整
	經營溢利╱(虧損)	4,714	(732,759)

		For the six months
		ended 30 June
		截至6月30日止六個月
		2021	2020
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Unaudited)
		(未經審核)	(未經審核)
Non-IFRS adjusted net profit/(loss)	非國際財務報告準則經調整
	淨溢利╱(虧損)	(194,384)	(760,046)
Net loss Adjusted for:	淨虧損
Share-based compensation expenses	就以下各項做出調整:	32,471	24,219
Fair value loss/(gain) of financial liabilities at	以股份為基礎的薪酬開支
FVPL	按公允價值計入損益的
	金融負債的公允價值 虧損╱(收益)	13,732	(15,860)
Fair value loss/(gain) of financial assets at	按公允價值計入損益的
FVPL	金融資產的公允價值
	虧損╱(收益)	27,062	(15,945)
Impairment loss of intangible assets	無形資產減值損失	148,903	15,206
Impairment loss of investments	使用權益法入賬的投資的
accounted for using equity method	減值損失	–	9,359
Non-IFRS adjusted net profit/(loss)	非國際財務報告準則經調整
	淨溢利╱(虧損)	27,784	(743,067)

Liquidity, Financial Resources and Gearing

The Group maintained a net cash position throughout the period under review. Our net cash positions as at 30 June 2021 and 31 December 2020 are as follows:

流動性、財務資源及資產負債比率

本 集 團 於 整 個 回 顧 期 間 保 持 淨 現 金 狀 況。我 們 於 2021年6月30日及2020年12月31日的淨現金狀況如 下:

		As at	As at
		30 June	31 December
		2021	2020
		於2021年	於2020年
		6月30日	12月31日
		RMB' million	RMB' million
		人民幣百萬元	人民幣百萬元
		(Unaudited)	(Audited)
		(未經審核)	(經審核)
Cash and cash equivalents	現金及現金等價物	277	413
Liquid investments	短期投資	55	–
Borrowings	借款	(196)	(199)
Net cash	淨現金	136	214

Cash and cash equivalents include cash at banks and other short-term deposits with original maturities of three months or less. Liquid investments are primarily wealth management products issued by banks and held with the primary objective of generating income at a yield higher than current bank deposit rates. Our cash and cash equivalents and liquid investments are denominated in the United States dollars (the "US dollars"), Renminbi ("RMB") and HK dollars.

For the six months ended 30 June 2021, the Group recorded net cash outflow of approximately RMB136.2 million, primarily representing net cash used in operating activities of approximately RMB68.9 million among which the net cash outflow for deposits was approximately RMB62.0 million; net cash used in investing activities of approximately RMB62.9 million which was mainly due to the purchase of wealth management products of approximately RMB55.0 million; and net cash used in financing activities of approximately RMB4.7 million.

現金及現金等價物包括銀行現金及原屆滿期限為三 個月或以下的其他短期存款。短期投資主要是銀行 發行的理財產品,持有其目的主要是以高於現行銀 行存款利率的收益率產生收入。我們的現金及現金 等價物和短期投資以美元(「美元」)、人民幣(「人民 幣」)及港元計值。

截至2021年6月30日止六個月,本集團錄得淨現金流 出約人民幣136.2百萬元,主要為經營活動產生的淨 現金流出約人民幣68.9百萬元,其中按金淨流出約人 民幣62.0百萬元;投資活動產生的淨現金流出約人民 幣62.9百萬元,主要由於購買理財產品約人民幣55.0 百萬元;以及融資活動產生的淨現金流出約人民幣 4.7百萬元。

The Group manages liquidity risk by maintaining adequate cash reserves, banking facilities and reserve borrowing facilities, continuously monitoring forecast and actual cash flows, and matching the maturity profiles of financial assets and liabilities.

The gearing ratio, calculated as total borrowings divided by total assets, was approximately 11.7% as at 30 June 2021 (31 December 2020: approximately 10.6%).

The following table sets forth the maturity profile of our borrowings within the periods indicated:

本集團通過維持足夠現金儲備、銀行融資及儲備借 款融資,持續監察預測及實際現金流量及匹配金融 資產及負債的屆滿期限以管理流動資金風險。

於2021年6月30日,資產負債比率(按借款總額除以總 資產計算)為約11.7%(2020年12月31日:約10.6%)。

下表載列於所示期內我們的借款的到期狀況:

		As at	As at
		30 June	31 December
		2021	2020
		於2021年	於2020年
		6月30日	12月31日
		RMB' million	RMB' million
		人民幣百萬元	人民幣百萬元
		(Unaudited)	(Audited)
		(未經審核)	(經審核)
一年內	一年內	171,750	171,563
一至兩年	一至兩年	7,141	6,942
兩至五年	兩至五年	16,920	20,541
Total borrowings	借款總額	195,811	199,046

The bank and other borrowings as at 30 June 2021 were denominated in RMB (31 December 2020: RMB). For the six months ended 30 June 2021, the annual interest rates of borrowings ranged between 5.64% to 8.04% (six months ended 30 June 2020: 5.64% to 14.61%).

於2021年6月30日,銀行及其他借款以人民幣計值 ( 2020年12月31日:人民幣)。截至2021年6月30日止 六個月,借款的年利率介乎5.64%至8.04%(截至2020 年6月30日止六個月:5.64%至14.61%)。

Exposure to Fluctuations in Exchange Rates

The Group's subsidiaries primarily operate in the PRC and are exposed to foreign exchange risk arising from various currency exposures, primarily with respect to US dollars and HK dollars.

For the Group's PRC subsidiaries whose functional currency is RMB, if US dollars had strengthened/weakened by 5% against RMB with all other variables held constant, the loss before income tax for the six months ended 30 June 2021 would have been approximately RMB1,915,000 higher/lower, and the loss before income tax for the six months ended 30 June 2020 would have been approximately RMB2,099,000 higher/lower, as a result of net foreign exchange gains/(losses) on translation of net monetary liabilities denominated in US dollars.

For the Group's PRC subsidiaries whose functional currency is RMB, if HK dollars had strengthened/weakened by 5% against RMB with all other variables held constant, the loss before income tax for the six months ended 30 June 2021 would have been approximately RMB300 lower/higher, and the loss before income tax for the six months ended 30 June 2020 would have been approximately RMB400 lower/higher, as a result of net foreign exchange gains/ (losses) on translation of net monetary assets denominated in HK dollars.

The Group would enter into foreign exchange forward contracts depending on circumstance to cover specific foreign currency payments and receipts within the exposure generated from time to time.

Charge on Assets

As at 30 June 2021 and 2020, the Group had charged its properties located at Building B3, No. 588 Wenyi West Road, Hangzhou, PRC in favour of Wenchuang Branch of Bank of Hangzhou and Hangzhou Branch of Bank of Wenzhou for obtaining mortgage loans of RMB53.0 million and RMB90.0 million, respectively.

匯率波動風險

本集團的附屬公司主要在中國經營,須承受各類貨 幣帶來的外匯風險,主要與美元及港元有關。

就本集團旗下功能貨幣為人民幣的中國附屬公司而 言,如美元兌人民幣升值╱貶值5%,而所有其他變 量維持不變,由於換算以美元計值的貨幣負債淨值 產生的外匯收益╱(虧損)淨額,截至2021年6月30日 止六個月的除所得稅前虧損將增加╱減少約人民幣 1,915,000元,截至2020年6月30日止六個月的除所得 稅前虧損則增加╱減少約人民幣2,099,000元。

就本集團旗下功能貨幣為人民幣的中國附屬公司而 言,如港元兌人民幣升值╱貶值5%,而所有其他變 量維持不變,由於換算以港元計值的貨幣資產淨值 產生的外匯收益╱(虧損)淨額,截至2021年6月30日 止六個月的除所得稅前虧損將減少╱增加約人民幣 300元,截至2020年6月30日止六個月的除所得稅前 虧損則減少╱增加約人民幣400元。

本集團視乎情況訂立外匯遠期合約,以涵蓋不時涉 及的特定外匯收支。

資產抵押

於2020年及2021年6月30日,本集團已將其坐落於中 國杭州文一西路588號首座B3號樓的房產抵押給杭州 銀行文創支行和溫州銀行杭州分行,用於分別獲取 抵押貸款人民幣53.0百萬元和人民幣90.0百萬元。

Future Plans for Material Investment or Acquisition of Capital Assets

For the six months ended 30 June 2021, the Group did not have any material investments (six months ended 30 June 2020: nil). The Group had no other specific plan for material investment or acquisition of capital assets as at 30 June 2021.

Material Acquisition and Disposal

For the six months ended 30 June 2021, the Group did not have any material acquisition or disposal (six months ended 30 June 2020: except for the deemed disposal of a subsidiary as disclosed in the Company's announcements dated 14 April, 27 April and 29 May 2020 and the circular dated 11 May 2020, nil).

Contingent Liabilities

The Group did not have any material contingent liabilities as at 30 June 2021 (31 December 2020: nil).

重大投資或購入資本資產之未來計劃

截至2021年6月30日止六個月,本集團並無任何重大 投資(截至2020年6月30日止六個月:無)。於2021年 6月30日,本集團並無其他有關重大投資或購入資本 資產之具體計劃。

重大收購及出售

截至2021年6月30日止六個月,本集團並無任何重大 收購或出售(截至2020年6月30日止六個月:除本公司 分別日期為2020年4月14日、4月27日及5月29日的公 告和日期為2020年5月11日的通函所披露之視作出售 一間附屬公司外,無)。

或然負債

於2021年6月30日,本集團並無任何重大或然負債 (2020年12月31日:無)。

Employees and Remuneration Policy

As at 30 June 2021, the Group had approximately 280 staff (31 December 2020: approximately 260 staff). For the six months ended 30 June 2021, the total staff cost incurred by the Group was approximately RMB106.0 million (for the six months ended 30 June 2020: approximately RMB111.1 million).

The Company has established an effective compensation management system and talent incentive mechanism by following the principle of "competitive compensation to attract high-quality talent". The Company's compensation system is linked to the performance appraisal system and the Group's operating results to create a more fair and humane working environment for each employee to fully exert his/her own value, so as to provide human resources guarantee for the Group's sustainable and stable development. In addition, the Company focuses on employee training system construction, including new employee induction training and on-the-job training, covering professional training to improve vocational skills, management training to enhance leadership quality and general-purpose training to develop comprehensive quality.

Retirement Scheme

The Group's employees in the PRC participate in defined contribution schemes provided by the relevant provincial and municipal governments under which the Group (as the employer) and the employees in the PRC are required to make monthly contributions to these schemes in accordance with the relevant requirements. The Company's subsidiaries in the PRC contribute funds to the pension in accordance with the requirements of the relevant provincial and municipal governments.

The Group has also arranged its employees in Hong Kong to join the Mandatory Provident Fund Scheme, a defined contribution scheme managed by an independent trustee whereby each of the Group (as the employer) and the employees in Hong Kong makes monthly contributions to the scheme in accordance with the relevant legislation.

The Group's contributions to the defined contribution schemes are expensed as incurred and not reduced by contributions forfeited from those employees who leave the schemes prior to vesting fully in the contributions. No forfeited contribution is available to reduce the contribution payable for the six months ended 30 June 2021 (six months ended 30 June 2020: nil).

僱員及薪酬政策

於2021年6月30日,本集團約有280名僱員( 2020年 12月31日:約260名)。本集團截至2021年6月30日止 六個月產生的員工成本總額為約人民幣106.0百萬元 (截至2020年6月30日止六個月:約人民幣111.1百萬 元)。

本公司遵循「有競爭力的薪酬吸引高素質人才」原 則,已建立有效的薪酬管理體系及人才激勵機制。本 公司薪酬體系與績效考核體系和本集團經營業績掛 鈎,為每一位員工創造更加公平和人性化的工作環 境,讓每一位員工能夠充分發揮自身價值,為本集團 的持續穩定發展提供人力資源保障。此外,本公司注 重員工培訓體系建設,包括新員工入職培訓和在職 員工培訓,內容涵蓋提高職業技能的專業類培訓、提 升領導力素質的管理類培訓及培養綜合素質的通用 類培訓。

退休金計劃

本集團的中國僱員均參與根據有關省、市政府規定 之定額供款計劃,本集團(作為僱主)及其中國僱員 均須按相關規定每月就該等計劃作出供款。本公司 於中國的附屬公司按照有關省、市政府規定繳納養 老保險。

本集團亦已安排其香港僱員參與強制性公積金計 劃,即由一獨立信託人管理之定額供款計劃。本集團 (作為僱主)及其香港僱員均須根據相關法例每月 向該計劃作出供款。

本集團向界定供款計劃所作的供款於發生時確認開 支,不會以沒收自該等於供款悉數歸屬前離開計劃 之僱員供款扣減。截至2021年6月30日止六個月,概 無可用於扣減應繳供款之被沒收供款(截至2020年6 月30日止六個月:無)。

The Company has also adopted the 51 Stock Scheme and the 51 Award Scheme to reward the Group's employees. For details, please refer to the sections headed "Other Information – RESTRICTED SHARE UNIT ("RSU") SCHEMES" of this report and "Report of the Directors – RESTRICTED SHARE UNIT ("RSU") SCHEMES" in the annual report of the Company for the year ended 31 December 2020, respectively.

OUTLOOK

With the completion of P2P Exiting and the cessation of new loan origination through micro loan subsidiary and consolidated trust schemes in 2020, the transformation and adjustment of various business lines to adapt to market changes and the introduction of new management, we have successfully shaken off the historical burden and entered into a period of stable development. In the future, our business will focus on providing technology service output for various institutions, specifically:

For financial technology business, we will rely on the historical accumulation of 51 Credit Card Manager and continue to cooperate with financial institutions in the areas of credit facilitation and credit card technology services, etc., and continue to strengthen our capabilities in risk control and customer acquisition. In addition, we will also actively explore market opportunities in the digital transformation of domestic banks and provide them with comprehensive operation management solutions by leveraging our years of experience in Internet technology, products and operations, etc. to help them improve their Internet operation capabilities.

For the innovative business, we will continue to increase our investment in Little Blue Book business and further enhance the ability of artificial intelligence technology in big data processing and optimize the sales chain of enterprise to improve the accuracy and timeliness of sales intelligence. For individual customers, we plan to continuously optimize product features and user experience. For corporate customers, we will further study the sales pain points of SMEs in order to improve the product design of key sections in sales chains and strengthen the customized service capability of personalized solutions, so as to achieve revenue growth steadily.

本公司亦已採納51股份計劃及51獎勵計劃獎勵本集 團僱員。有關詳情請分別參見本報告「其他資料—受 限制股份單位計劃」及本公司截至2020年12月31日止 年度的年度報告「董事會報告-受限制股份單位計 劃」一節。

展望

隨著2020年全面完成P2P清退及終止透過小額貸款附 屬公司及綜合信託計劃發放新貸款,對各條業務線 進行轉型及調整以適應市場變化,以及引入新管理 層,我們已經順利擺脫歷史包袱輕裝上陣,並進入穩 定發展時期。未來我們的業務重心將集中於為各類 機構提供科技服務輸出,具體來說:

在金融科技業務方面,我們將依託51信用卡管家的 歷史積累,在信貸撮合及信用卡科技服務等方面繼 續與金融機構合作,持續夯實我們的風險控制和獲 客能力。此外,我們還將積極探索國內銀行在數字化 轉型方面的市場機會,利用我們在互聯網技術、產品 及運營等領域多年積累的經驗,為其提供全面的運 營管理解決方案,協助其提高互聯網運營能力。

在創新業務方面,我們將持續加強在小藍本業務上 的投入,進一步強化人工智能技術在大數據處理和 優化企業銷售鏈路上的能力,提高銷售情報的準確 性和及時性。針對個人用戶,我們計劃繼續優化產品 的功能及使用體驗。針對企業客戶,我們將更深入的 研究中小型企業的銷售痛點,以完善關鍵銷售環節 的產品設計,加強個性化解決方案的訂製服務能力, 以穩步實現收入的增長。

Report On Review of Interim Financial Information 中期財務資料的審閱報告

To the Board of Directors of 51 Credit Card Inc. (incorporated in the Cayman Islands with limited liability)

INTRODUCTION

We have reviewed the interim financial information set out on pages 22 to 71, which comprises the condensed consolidated interim statement of financial position of 51 Credit Card Inc. (the "Company") and its subsidiaries (together, the "Group") as at 30 June 2021 and the condensed consolidated interim statement of comprehensive loss, the condensed consolidated interim statement of changes in equity and the condensed consolidated interim statement of cash flows for the six-month period then ended, and a summary of significant accounting policies and other explanatory notes. The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited require the preparation of a report on interim financial information to be in compliance with the relevant provisions thereof and International Accounting Standard 34 "Interim Financial Reporting". The directors of the Company are responsible for the preparation and presentation of this interim financial information in accordance with International Accounting Standard 34 "Interim Financial Reporting". Our responsibility is to express a conclusion on this interim financial information based on our review and to report our conclusion solely to you, as a body, in accordance with our agreed terms of engagement and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report.

致51信用卡有限公司董事會 (於開曼群島註冊成立的有限公司)

引言

本核數師(以下簡稱「我們」)已審閱列載於第22至71 頁的中期財務資料,此中期財務資料包括51信用卡 有限�司(以下簡稱「貴�司」)及其附屬公司(以下統 稱「貴�團」)於2021年6月30日的簡明綜合中期財務 狀況表�截至該日止六個月期間的簡明綜合中期全 面虧損表、簡明綜合中期�益變動表及簡明綜合中 期現金流量表,以及主要會計政策概要及其他附註 解釋。香港聯合交易所有限公司證券上市規則規定, 就中期財務資料擬備的報告必須符合以上規則的� 關條文以及國際會計準則第34號「中期財務報告」。 貴�司董事須負責根據國際會計準則第34號「中期財 務�告」擬備及列報該等中期財務資料。我們的責任 是根�我們的審閱對該等中期財務資料作出結論, 並僅按照我們協定的業務約定條款向�下(作為整 體)報告我們的結論,除此之外本報告別無其他目 的。我們不會就本�告的內容向任何其他人士負上 或承擔任何責任。

Report On Review of Interim Financial Information 中期財務資料的審閱報告

SCOPE OF REVIEW

We conducted our review in accordance with International Standard on Review Engagements 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity". A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

CONCLUSION

Based on our review, nothing has come to our attention that causes us to believe that the interim financial information of the Group is not prepared, in all material respects, in accordance with International Accounting Standard 34 "Interim Financial Reporting".

審閱範圍

我們已根據國際審閱準則第2410號「由實體的獨立核 數師執行中期財務資料審閱」進行審閱。審閱中期財 務�料包括主要向負責財務及會計事務的人員作出 查詢,�應用分析性及其他審閱程序。審閱的範圍遠 較根據《國際審計準則 》進行審計的範圍為小,故不 能令我們可�證我們將知悉在審計中可能被發現的 所有重大事項。�此,我們不會發表審計意見。

結論

按照我們的審閱,我們並無發現任何事項,令我們相 �貴�團的中期財務資料未有在各重大方面根據國 際會計準則第34號「中期財務報告」擬備。

PricewaterhouseCoopers Certified Public Accountants

Hong Kong, 27 August 2021

羅兵咸永道會計師事務所 執業會計師

香港,2021年8月27日

Condensed Consolidated Interim Statement of Comprehensive Loss 簡明綜合中期全面虧損表

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

			Six months ended 30 June
			截至6月30日止六個月
			2021	2020
		Note	RMB'000	RMB'000
		附註	人民幣千元	人民幣千元
			(Unaudited)	(Unaudited)
			(未經審核)	(未經審核)
Credit facilitation and service fee	信貸撮合及服務費	6	135,583	71,974
Payment service fee	支付服務費		22,182	20,573
Credit card technology service fee	信用卡科技服務費		19,200	26,530
SaaS service fee	SaaS服務費		12,482	6,221
Other revenue	其他收益	7	21,538	39,298
Total revenue	收益總額		210,985	164,596
Origination and servicing expenses	辦理及服務開支	8	(113,907)	(136,821)
General and administrative expenses Research and development expenses	一般及行政開支	8 8	(69,411) (24,397)	(81,470) (38,997)
Sales and marketing expenses	研發開支	8	(22,986)	(22,736)
Expected credit loss	銷售及營銷開支	9	(16,798)	(639,803)
Other losses, net	預期信用損失 其他虧損淨額	10	(167,208)	(10,367)
Total operating expenses	經營開支總額		(414,707)	(930,194)
Operating loss	經營虧損		(203,722)	(765,598)
Share of net loss of associates accounted for	分佔使用權益法入賬的
using equity method	聯營公司虧損淨額		(1,212)	(4,551)
Fair value (loss)/gain of financial liabilities at	按公允價值計入損益的
fair value through profit or loss	金融負債公允價值
	(虧損)╱收益		(13,732)	15,860
Finance (expenses)/income, net	財務(開支)╱收益淨額		(4,253)	3,953
Loss before income tax	除所得稅前虧損		(222,919)	(750,336)
Income tax credit/(expense)	所得稅抵免╱(開支)	11	28,535	(9,710)
Loss for the period	期內虧損		(194,384)	(760,046)

Condensed Consolidated Interim Statement of Comprehensive Loss 簡明綜合中期全面虧損表

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

			Six months ended 30 June
			截至6月30日止六個月
			2021	2020
		Note	RMB'000	RMB'000
		附註	人民幣千元	人民幣千元
			(Unaudited)	(Unaudited)
			(未經審核)	(未經審核)
Loss for the period attributable to:	以下各項應佔期內虧損︰
– Owners of the Company	-本公司擁有人		(177,291)	(730,839)
– Non-controlling interests	-非控股權益		(17,093)	(29,207)
			(194,384)	(760,046)
Other comprehensive loss	其他全面虧損 不會重新分類至損益的項目
Items that may not be reclassified to profit or loss
Change in fair value attributable to change in the	按公允價值計入損益的其他
credit risk of other financial liability at fair value	金融負債信用風險的變化
through profit or loss	導致的公允價值變動		(1,777)	–
Currency translation differences	貨幣換算差額		4,133	(955)
Total comprehensive loss for the period, net of tax 期內全面虧損總額,扣除稅項			(192,028)	(761,001)
Total comprehensive loss attributable to:
– Owners of the Company	以下各項應佔全面虧損總額:		(178,332)	(730,568)
– Non-controlling interests	-本公司擁有人		(13,696)	(30,433)
	-非控股權益
Loss per share attributable to owners of	本公司擁有人應佔每股虧損
the Company – basic and diluted	-基本及攤薄
(expressed in RMB per share):	(每股以人民幣列示):
Loss for the period – basic	期內虧損-基本	12	(0.15)	(0.73)
Loss for the period – diluted	期內虧損-攤薄	12	(0.15)	(0.73)

The above condensed consolidated interim statement of comprehensive loss should be read in conjunction with the accompanying notes.

上述簡明綜合中期全面虧損表應與隨附附註一 併閱讀。

Condensed Consolidated Interim Statement of Financial Position 簡明綜合中期財務狀況表

As at 30 June 2021 於2021年6月30日

			As at	As at
			30 June	31 December
			2021	2020
			於2021年	於2020年
			6月30日	12月31日
		Note	RMB'000	RMB'000
		附註	人民幣千元	人民幣千元
			(Unaudited)	(Audited)
			(未經審核)	(經審核)
ASSETS	資產
Non-current assets	非流動資產
Property and equipment, net	物業及設備淨額		111,358	121,937
Right-of-use assets	使用權資產		4,277	6,373
Intangible assets	無形資產	13	350,567	501,137
Investments accounted for using equity method	使用權益法入賬的投資		43,887	32,099
Financial assets at fair value through profit or loss	按公允價值計入損益的金融資產	5	70,426	100,693
Deferred income tax assets	遞延所得稅資產		108,052	101,745
Prepayments and other receivables	預付款項及其他應收款項	14	292	392
Total non-current assets			688,859	864,376
	非流動資產總值
Current assets	流動資產
Quality assurance fund receivable	應收質量保證金	15	30,140	22,190
Contract assets	合約資產	16	47,634	35,487
Trade receivables	貿易應收款項	17	28,373	11,935
Prepayments and other receivables	預付款項及其他應收款項	14	177,354	132,128
Loans to customers, net	客戶貸款淨額	18	148,942	171,203
Financial assets at fair value through profit or loss	按公允價值計入損益的金融資產	5	55,000	–
Restricted cash	受限制現金	19	221,710	221,735
Cash and cash equivalents	現金及現金等價物	19	276,519	412,684
Total current assets	流動資產總值		985,672	1,007,362
Total assets	資產總值		1,674,531	1,871,738

Condensed Consolidated Interim Statement of Financial Position 簡明綜合中期財務狀況表

As at 30 June 2021 於2021年6月30日

		As at	As at
		30 June	31 December
		2021	2020
		於2021年	於2020年
		6月30日	12月31日
	Note	RMB'000	RMB'000
	附註	人民幣千元	人民幣千元
		(Unaudited)	(Audited)
		(未經審核)	(經審核)
EQUITY AND LIABILITIES
Equity	權益及負債
Share capital	權益 股本	90	90
Share premium	股份溢價	6,146,403	6,136,837
Shares held for employee incentive schemes	持作僱員獎勵計劃的股份	(11)	(11)
Reserves	儲備	(24,167)	(45,843)
Accumulated losses	累計虧損	(5,298,751)	(5,121,460)
Non-controlling interests	非控股權益	(1,723)	11,973
Total equity	權益總額	821,841	981,586
Liabilities	負債
Non-current liabilities	非流動負債
Bank and other borrowings	20 銀行及其他借款	24,061	27,483
Lease liabilities	租賃負債	231	1,828
Deferred income tax liabilities	遞延所得稅負債	82,191	119,434
Total non-current liabilities		106,483	148,745
	非流動負債總額
Current liabilities	流動負債
Quality assurance fund payable	15 應付質量保證金	61,780	53,867
Payable to platform customers	應付平台客戶款項	104,342	129,653
Contract liabilities	16 合約負債	16,485	17,214
Bank and other borrowings	20 銀行及其他借款	171,750	171,563
Lease liabilities	租賃負債	3,044	2,988
Trade and other payables	21 貿易及其他應付款項	310,699	316,338
Income tax payable	應付所得稅	15,228	2,414
Financial liabilities at fair value through profit or loss	5 按公允價值計入損益的金融負債	62,879	47,370
Total current liabilities	流動負債總額	746,207	741,407
Total liabilities	負債總額	852,690	890,152
Total equity and liabilities	權益及負債總額	1,674,531	1,871,738

The above condensed consolidated interim statement of financial position should be read in conjunction with the accompanying notes.

上述簡明綜合中期財務狀況表應與隨附附註一 併閱讀。

Condensed Consolidated Interim Statement of Changes in Equity 簡明綜合中期權益變動表

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

				Attributable to equity holders of the Company
				本公司權益持有人應佔
		Share capital	Share premium	Shares held for employee incentive schemes	Reserves	Accumulated losses	Sub-total	Non controlling interests	Total
		股本 RMB'000 人民幣千元	股份溢價 RMB'000 人民幣千元	持作僱員 獎勵計劃 的股份 RMB'000 人民幣千元	儲備 RMB'000 人民幣千元	累計虧損 RMB'000 人民幣千元	小計 RMB'000 人民幣千元	非控股權益 RMB'000 人民幣千元	總計 RMB'000 人民幣千元
(Unaudited) As at 31 December 2020	(未經審核) 於2020年12月31日	90	6,136,837	(11)	(45,843)	(5,121,460)	969,613	11,973	981,586
Comprehensive loss Loss for the period Change in fair value attributable to change	全面虧損 期內虧損 按公允價值計入損益的	–	–	–	–	(177,291)	(177,291)	(17,093)	(194,384)
in the credit risk of financial liability at fair value through profit or loss Currency translation differences	金融負債信用風險的 變化導致的公允價值變動 貨幣換算差額	– –	– –	– –	(1,777) 736	– –	(1,777) 736	– 3,397	(1,777) 4,133
Total comprehensive loss	全面虧損總額	–	–	–	(1,041)	(177,291)	(178,332)	(13,696)	(192,028)
Transactions with owners as their capacity as owners Share incentives exercised and vested Share incentives awarded under share incentive schemes	與權益所有者以其所有者的 身份進行的交易 已行使及已歸屬股份獎勵 股份獎勵計劃項下授出的 股份獎勵	– –	9,566 –	– –	(9,146) 31,863	– –	420 31,863	– –	420 31,863
Total transactions with owners as their capacity as owners	與權益所有者以其所有者的 身份進行的交易總額	–	9,566	–	22,717	–	32,283	–	32,283
As at 30 June 2021	於2021年6月30日	90	6,146,403	(11)	(24,167)	(5,298,751)	823,564	(1,723)	821,841

Condensed Consolidated Interim Statement of Changes in Equity 簡明綜合中期權益變動表

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

					Attributable to equity holders of the Company
					本公司權益持有人應佔
		Share capital	Share premium	Share held for employee incentive schemes	Reserves	Accumulated losses	Sub-total	Non controlling interests	Total
		股本 RMB'000 人民幣千元	股份溢價 RMB'000 人民幣千元	持作僱員 獎勵計劃 的股份 RMB'000 人民幣千元	儲備 RMB'000 人民幣千元	累計虧損 RMB'000 人民幣千元	小計 RMB'000 人民幣千元	非控股權益 RMB'000 人民幣千元	總計 RMB'000 人民幣千元
(Unaudited) As at 31 December 2019	(未經審核) 於2019年12月31日	79	5,960,095	(12)	(15,599)	(3,422,389)	2,522,174	32,184	2,554,358
Comprehensive loss Loss for the period Currency translation differences	全面虧損 期內虧損 貨幣換算差額	– –	– –	– –	– 271	(730,839) –	(730,839) 271	(29,207) (1,226)	(760,046) (955)
Total comprehensive loss	全面虧損總額	–	–	–	271	(730,839)	(730,568)	(30,433)	(761,001)
Transactions with owners as their capacity as owners Share incentives exercised and vested Acquisition of additional equity interest	與權益所有者以其所有者的 身份進行的交易 已行使及已歸屬股份獎勵 收購一家附屬公司額外股權	–	23,698	1	(22,195)	–	1,504	–	1,504
in a subsidiary Share incentives awarded under share incentive schemes	股份獎勵計劃項下授出的 股份獎勵	– –	– –	– –	(6,287) 24,219	– –	(6,287) 24,219	2,787 –	(3,500) 24,219
Capital contribution by a non-controlling interest of a subsidiary	一家附屬公司非控股權益的 注資	–	–	–	7,707	–	7,707	33,533	41,240
Total transactions with owners as their capacity as owners	與權益所有者以其所有者的 身份進行的交易總額	–	23,698	1	3,444	–	27,143	36,320	63,463
As at 30 June 2020	於2020年6月30日	79	5,983,793	(11)	(11,884)	(4,153,228)	1,818,749	38,071	1,856,820

The above condensed consolidated interim statement of changes in equity should be read in conjunction with the accompanying notes.

上述簡明綜合中期權益變動表應與隨附附註一併閱 讀。

Condensed Consolidated Interim Statement of Cash Flows 簡明綜合中期現金流量表

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

		Six months ended 30 June
			截至6月30日止六個月
			2021	2020
		Note	RMB'000	RMB'000
		附註	人民幣千元	人民幣千元
			(Unaudited)	(Unaudited)
			(未經審核)	(未經審核)
Operating activities	經營活動
Cash used in operations	經營所用現金		(67,933)	(1,136,731)
Income tax paid	已付所得稅		(962)	(10,709)
Net cash used in operating activities	經營活動所用現金淨額		(68,895)	(1,147,440)
Investing activities	投資活動
Investments in associate accounted for using the	使用權益法入賬的於聯營公司的
equity method	投資		(13,000)	–
Proceeds from disposal of a debt host security	出售債務證券所得款項		4,594	30,890
Investments in wealth management products	於理財產品的投資		(55,000)	(6,800)
Proceeds from disposals of	出售理財產品所得款項
wealth management products			–	2,500
Interest from wealth management products	理財產品所得利息		–	5
Interest from trust	信託所得利息		–	553
Purchases of property and equipment	購買物業及設備		(2,351)	(392)
Purchases of intangible assets	購買無形資產		(375)	(1,055)
Proceeds from disposal of property and equipment	出售物業及設備所得款項		3,198	763
Proceeds from disposal of a subsidiary	出售一家附屬公司所得款項		–	73,000
Net cash (used in)/generated
from investing activities	投資活動(所用)╱所得現金淨額		(62,934)	99,464

Condensed Consolidated Interim Statement of Cash Flows 簡明綜合中期現金流量表

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

		Six months ended 30 June
			截至6月30日止六個月
			2021	2020
		Note	RMB'000	RMB'000
		附註	人民幣千元	人民幣千元
			(Unaudited)	(Unaudited)
			(未經審核)	(未經審核)
Financing activities	融資活動
Proceeds from share incentives exercised and	已行使及已歸屬股份獎勵
vested	所得款項		420	1,504
Cash paid for acquisition of additional equity interest	收購一家附屬公司額外股權的
in a subsidiary	已付現金		–	(3,500)
Cash received from capital contribution from non	從非控股股東的注資收取的現金
controlling shareholders			–	40,490
Proceeds from borrowings	借款所得款項		90,000	140,000
Repayment of borrowings	償還借款		(93,236)	(100,536)
Cash paid to trust senior tranche holders	已付予信託優先級持有人的現金		–	(20,100)
Interests paid to trust senior tranche holders	已付予信託優先級持有人的利息		–	(52)
Principal elements of lease payments	租賃付款的主要成分		(1,918)	(1,090)
Net cash (used in)/generated from	融資活動(所用)╱所得現金淨額
financing activities			(4,734)	56,716
Effect of exchange rate changes on cash	匯率變動對現金及現金等價物的
and cash equivalents	影響		398	(764)
Net decrease in cash and cash equivalents	現金及現金等價物減少淨額		(136,165)	(992,024)
Cash and cash equivalents at beginning of period	期初現金及現金等價物		412,684	1,283,144
Cash and cash equivalents at end of period	期末現金及現金等價物		276,519	291,120

The above condensed consolidated interim statement of cash flows should be read in conjunction with the accompanying notes.

上述簡明綜合中期現金流量表應與隨附附註一併閱 讀。

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

1 GENERAL INFORMATION

The Company was incorporated in the Cayman Islands on 21 September 2017 as an exempted company with limited liability under the Companies Law, Cap. 22 (Law 3 of 1961, as consolidated and revised) of the Cayman Islands. The address of the Company's registered office is at Second Floor, Century Yard, Cricket Square, P.O. Box 902, Grand Cayman, KY1-1103, Cayman Islands.

The Company's shares (the "Shares") have been listed on the Main Board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") since 13 July 2018.

The Company is an investment holding company. The Group is principally engaged in the provision of financial technology services and SaaS services in the PRC.

This interim financial information is presented in RMB and all values are rounded to the nearest thousand (RMB'000) except when otherwise stated.

This condensed consolidated interim financial information has not been audited.

2 BASIS OF PREPARATION

This condensed consolidated interim financial information for the six months ended 30 June 2021 has been prepared in accordance with International Accounting Standard ("IAS") 34 "Interim financial reporting" issued by the International Accounting Standards Board ("IASB"). The condensed consolidated interim financial information does not include all the notes of the type normally included in an annual financial report. Accordingly, this interim financial information should be read in conjunction with the consolidated financial statements for the year ended 31 December 2020, which have been prepared in accordance with International Financial Reporting Standards ("IFRSs"), and any public announcements made by the Group during the six months ended 30 June 2021.

1 一般資料

本公司於2017年9月21日根據開曼群島《公司 法 》�22章( 1961年第3號法律,經合併及修 訂)在開曼群島註冊成立為獲豁免有限責任公 司。本�司的註冊辦事處地址為Second Floor, Century Yard, Cricket Square, P.O. Box 902, Grand Cayman, KY1–1103, Cayman Islands。

本公司股份(「股份」)自2018年7月13日起在香 港聯合交易所有限公司(「聯交所」)主板上市。

本公司為投資控股公司。本集團主要於中國從 事提供金融科技服務及SaaS服務。

除 另 有 指 明 外,本 中 期 財 務 資 料 以 人 民 幣 呈 列,�有金額均已湊整至最接近千位(人民幣 千元)。

本簡明綜合中期財務資料未經審核。

2 編製基準

截至2021年6月30日止六個月的簡明綜合中期 財務資料乃根據國際會計準則理事會(「國際會 計準則理事會」)頒佈的國際會計準則(「國際會 計準則」)第34號「中期財務報告」編製。簡明綜 合中期財務資料並無涵蓋年度財務報告通常載 有的全部附註類別,故本中期財務資料應連同 根據國際財務報告準則(「國際財務報告準則」) 編製的截至2020年12月31日止年度的綜合財務 報表及本集團截至2021年6月30日止六個月所 公佈之任何公告一併閱讀。

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

3 SIGNIFICANT ACCOUNTING POLICIES

The accounting policies adopted in the preparation of the condensed consolidated interim financial information are consistent with those followed in the preparation of the Group's consolidated financial statements for the year ended 31 December 2020, except for the adoption of new or amended standards and interpretations became applicable for annual reporting periods commencing on or after 1 January 2021.

The following new standards, amendments and interpretation of IFRSs have been adopted by the Group for the first time for the financial year beginning 1 January 2021:

Amendments to IFRS 16	Covid-19-Related Rent Concessions	國際財務報告準則第16號的
		修訂
Amendments to IFRS 9,	Interest Rate Benchmark Reform	國際財務報告準則第9號、
IAS 39, IFRS 7, IFRS 4		國際會計準則第39號、
and IFRS 16

The adoption of these revised IFRSs was currently irrelevant or had no significant impact on the condensed consolidated interim financial information. The Group has not early adopted any other standard, interpretation or amendment that was issued but is not yet effective.

4 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS IN APPLYING ACCOUNTING POLICIES

The preparation of interim financial information requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, and income and expense. Actual results may differ from these estimates.

In preparing this interim financial information, the significant judgments made by management in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those that applied to the Group's annual financial information for the year ended 31 December 2020.

3 重大會計政策

除採納適用於2021年1月1日或之後開始的年報 期的新增或修訂的準則及詮釋外,編製簡明綜 合中期財務資料所採納的會計政策與編製本集 團截至2020年12月31日止年度的綜合財務報表 所採用的會計政策一致。

本集團於2021年1月1日開始的財政年度首次採 納以下國際財務報告準則的新增準則、修訂及 詮釋:

國際財務報告準則第16號的 COVID-19相關的 租金減免 國際財務報告準則第9號、 國際會計準則第39號、 國際財務報告準則第7號、 國際財務報告準則第4號 及國際財務報告準則 第16號的修訂 利率基準改革

該部分經修訂的國際財務報告準則的採納目前 與簡明綜合中期財務資料無關或對其並無重大 影響。本集團並無提早採納任何已頒佈但尚未 生效的其他準則、詮釋或修訂。

4 應用會計政策時的重要會計估計和判斷

中期財務資料的編製要求管理層作出影響會計 政策應用以及資產和負債的報告金額以及收入 和支出的判斷、估計和假設。實際結果可能與 該等估計不同。

在編製本中期財務資料時,管理層在應用本集 團會計政策時作出的重大判斷以及估計不確定 性的主要來源與應用於本集團截至2020年12月 31日止年度的年度財務資料的判斷相同。

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

5 FINANCIAL RISK MANAGEMENT AND FINANCIAL INSTRUMENTS

5.1 Financial risk factors

The Group's activities expose it to a variety of financial risks: market risk, credit risk and liquidity risk. The Group's overall risk management program focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Group's financial performance. Risk management is carried out by the senior management of the Group.

The condensed consolidated interim financial information does not include all information of financial risk management and disclosures required in the annual financial statements, and should be read in conjunction with the consolidated financial statements for the year ended 31 December 2020.

Measurement of ECL

The estimation of credit exposure for risk management purposes is complex and requires the use of models, as the exposure varies with changes in market conditions, expected cash flows and the passage of time. The assessment of credit risk of a portfolio of assets entails further estimations as to the likelihood of defaults occurring, of the associated loss ratios and of default correlations between counterparties. The Group measures credit risk using Probability of Default ("PD"), Exposure at Default ("EAD") and Loss Given Default ("LGD"). This is consistent with the models applied in the consolidated financial statements for the year ended 31 December 2020.

5 金融風險管理及金融工具

5.1 金融風險因素

本集團的活動令本集團承受多種金融風 險:市場風險、信用風險及流動資金風 險。本集團的整體風險管理計劃注重金 融市場的不可預測性及尋求盡可能減少 對本集團財務表現的潛在不利影響。風 險管理由本集團的高級管理層執行。

此簡明綜合中期財務資料不包括年度財 務報表中要求的所有金融風險管理信息 和披露,並應與截至2020年12月31日止年 度的綜合財務報表一併閱讀。

預期信用損失的計量

用於風險管理目的的信用風險敞口之估 計較複雜,並且需要使用模型,因為該敞 口會隨著市場條件、預期現金流量和時 間的推移的變動而變化。資產組合的信 用風險評估需要對違約發生的可能性、 相關損失率以及交易對手之間的違約相 關性進行進一步估計。本集團使用違約 概率(「違約概率」)、違約敞口(「違約敞 口」)及違約損失率(「違約損失率」)來衡 量信用風險。這與截至2020年12月31日 止年度的綜合財務報表所採用的模型一 致。

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

5 FINANCIAL RISK MANAGEMENT AND FINANCIAL INSTRUMENTS (Cont'd)

5.1 Financial risk factors (Cont'd) Measurement of ECL (Cont'd)

5 金融風險管理及金融工具(續)

5.1 金融風險因素(續)

預期信用損失的計量(續)

During the reporting period, the most significant assumption used is Producer Price Index ("PPI"), which is proved to be the most relevant variables by back testing.

於報告期內,所使用的最重要假設是生 產者物價指數(「生產者物價指數」),經 返回檢驗證明其是最相關的變量。

		Six months ended	Year ended
		30 June	31 December
		2021	2020
		截至2021年	截至2020年
		6月30日	12月31日
		止六個月	止年度
PPI	Base	100.56	99.76
生產者物價指數	基準
	Upside	102.04	100.18
	上揚
	Downside	99.34	99.22
	下跌

The Group uses economic variable assumptions when determine expected PPI. The weightings assigned to each economic scenario as at 30 June 2021 were as follows, which were the same as at 31 December 2020:

本集團在確定預期生產者物價指數時採 用可變經濟假設。於2021年6月30日,分 配至各項經濟情景的權重與於2020年12 月31日的權重相同:

		Base 基準	Upside 上揚	Downside 下跌
All portfolios	所有組合	80%	10%	10%
Sensitivity analysis follows:	The most significant assumptions affecting the ECL allowance are as	敏感度分析 下:	影響預期信用損失撥備的最重要假設如
				As at 30 June 2021 於2021年 6月30日 RMB'000 人民幣千元
PPI	–1%			29
生產者物價指數	No change			–

無變動

+1% (16)

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

5			FINANCIAL RISK MANAGEMENT AND FINANCIAL INSTRUMENTS (Cont'd)	5		金融風險管理及金融工具(續)
	5.2	(a)	Fair value measurement of financial instruments Fair value hierarchy December 2020:	The following table presents the Group's assets and liabilities that are measured at fair value as at 30 June 2021 and 31	5.2 (a)	金融工具的公允價值計量 �允價值層級 的資產及負債:		下表呈列本集團於2021年6月30日 �2020年12月31日按公允價值計量
				Valuation techniques and key input 估值技術及主要參數	Level 1 第1層級 RMB'000 人民幣千元 (Unaudited)	Level 2 第2層級 RMB'000 人民幣千元 (Unaudited) (未經審核)(未經審核)(未經審核)(未經審核)	As at 30 June 2021 於2021年6月30日 Level 3 第3層級 RMB'000 人民幣千元 (Unaudited)	Total 總計 RMB'000 人民幣千元 (Unaudited)
			Assets 資產 Financial assets at fair value through profit or loss ("FVPL") – investments 按公允價值計入損益(「按 公允價值計入損益」)的 金融資產-投資	Discounted cash flow and market approach. Key assumptions mainly include perpetual growth rate, inflation rate, weighted average cost of capital ("WACC"), liquidity discount, risk-free interest rate and expected volatility. 貼現現金流量及市場方法。主要 假設主要包括永續增長率、通 脹率、加權平均資本成本(「加 權平均資本成本」)、流動性折 價、無風險利率及預期波動性。	–	–	70,426	70,426
			Financial assets at FVPL – wealth management products 按公允價值計入損益的 金融資產-理財產品	Bank quoted expected return. 銀行提供預期回報。	–	55,000	–	55,000
			Liabilities 負債 Financial liabilities at FVPL 按公允價值計入損益的 金融負債	Market stock price. 市場股價。	–	19,845	–	19,845
			Financial liabilities at FVPL – redeemable equity instrument 按公允價值計入損益的 金融負債-可贖回權益 工具	Market approach. Key assumptions mainly include risk-free interest rate, expected volatility and discount for lack of marketability. 市場方法。主要假設包括無風險 利率、預期波動性及缺乏流通 性折價。	–	–	43,034	43,034

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

5	金融風險管理及金融工具(續) FINANCIAL RISK MANAGEMENT AND FINANCIAL 5 INSTRUMENTS (Cont'd)
	5.2 (a)	Fair value measurement of financial instruments (Cont'd) Fair value hierarchy (Cont'd)		5.2 (a)	金融工具的公允價值計量(續) �允價值層級(續)
						As at 31 December 2020 於2020年12月31日
			Valuation techniques and key input	Level 1	Level 2	Level 3	Total
			估值技術及主要參數	第1層級 RMB'000 人民幣千元 (Audited) (經審核)	第2層級 RMB'000 人民幣千元 (Audited) (經審核)	第3層級 RMB'000 人民幣千元 (Audited) (經審核)	總計 RMB'000 人民幣千元 (Audited) (經審核)
		Assets 資產 Financial assets at FVPL – investments 按公允價值計入損益的 金融資產-投資	Discounted cash flow. Future cash flows are estimated based on key assumptions including perpetual growth rate, inflation rate, WACC and liquidity discount. 貼現現金流量。未來現金流量基 於永續增長率、通脹率、加權平 均資本成本及流動性折價等主 要假設進行估計。	–	–	100,693	100,693
		Liabilities 負債 Financial liabilities at FVPL 按公允價值計入損益的 金融負債 Financial liabilities at FVPL – redeemable equity instrument 按公允價值計入損益的	Market stock price. 市場股價。 Quoted contract price. 合約報價。	–	7,370	–	7,370
		金融負債-可贖回權益 工具		–	40,000	–	40,000

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

5 FINANCIAL RISK MANAGEMENT AND FINANCIAL INSTRUMENTS (Cont'd)

• 5.2 Fair value measurement of financial instruments (Cont'd)
• (a) Fair value hierarchy (Cont'd)

The Group did not measure any financial assets or financial liabilities at fair value on a non-recurring basis as at 30 June 2021.

Level 1: The fair value of financial instruments traded in active markets (such as publicly traded derivatives and equity securities) is based on quoted market prices at the end of the reporting period. The quoted market price used for financial assets held by the Group is the current bid price. These instruments are included in level 1.

Level 2: The fair value of financial instruments that are not traded in an active market (for example, over-the-counter derivatives) is determined using valuation techniques which maximise the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. This is the case for unlisted equity securities.

5 金融風險管理及金融工具(續)

5.2 金融工具的公允價值計量(續)

(a) �允價值層級(續) 於2021年6月30日,本集團並無以非 經常性基準的公允價值計量任何金 融資產或金融負債。

第1層級:活躍市場中交易的金融 工具(如公開交易的衍生工具和權 益性證券)的公允價值以報告期末 的市場報價為基礎。用於本集團持 有的金融資產的市場價格為現行買 入價。這些工具包括在第1層級。

第2層級:未在一個活躍市場交易 的金融工具(例如場外衍生品)的 公允價值是使用估值技術確定的, 該技術最大限度地利用可觀察的市 場數據,並盡可能減少依賴實體特 �的估計。如果公平估值一項工具 所需的所有重要輸入值都是可觀察 的,則將該工具納入第2層級。

第3層級:如果一個或多個重要輸 入值不是基於可觀察的市場數據, 則該工具包括在第3層級。這適用 於非上市股票證券。

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

5 FINANCIAL RISK MANAGEMENT AND FINANCIAL INSTRUMENTS (Cont'd)

5.2 Fair value measurement of financial instruments (Cont'd)

5 金融風險管理及金融工具(續)

5.2 金融工具的公允價值計量(續)

(b) Fair value measurements using significant unobservable inputs The following table presents the changes in level 3 asset

instruments for the six months ended 30 June 2021 and 2020:

(b)	使用重要不可觀察輸入值計量的公
	允價值
	下表呈列載至2021年及2020年6月
	30日止六個月第3層級資產工具的
	變動:

				Six months ended 30 June 截至6月30日止六個月
				2021 RMB'000 人民幣千元 (Unaudited) (未經審核)	2020 RMB'000 人民幣千元 (Unaudited) (未經審核)
	At the beginning of the period Fair value (loss)/gain Disposals	於期初 公允價值(虧損)╱收益 出售		100,693 (27,062) (3,205)	153,318 15,387 –
	At the end of the period	於期末		70,426	168,705
(i)	Transfers between the levels and changes in valuation techniques For the periods ended 30 June 2021 and 2020, there were no significant transfers between level 1 and level 2 fair value measurements. The transfers into level 3 fair value measurements were resulted from the changes of inputs in fair value measurements.		(i)	變化 輸入值變動所致。	層級之間的轉變和估值技術的 截至2021年及2020年6月30日 止期間,第1層級與第2層級公 允價值計量之間概無發生重 大轉變。向第3層級公允價值 計量轉變乃公允價值計量的
(ii)	Valuation inputs and relationships to fair value As at 30 June 2021, the level 3 instruments were mainly equity investments at FVPL. As the equity investments are not traded in an active market, its fair value has been determined using discounted cash flows. Major assumptions used in the valuation include perpetual growth rate, inflation rate, WACC and liquidity discount, etc. Discount rate was estimated by WACC as at each reporting date. The managements estimated the risk-free interest rate based on the yield of China Government Bond with a maturity life equal to period from the respective reporting date to expected cash flow date.		(ii)	估值輸入值及與公允價值的 關係 利率。	於2021年6月30日,第3層 級 的工具主要是按公允價值計 入 損 益 的 股 權 投 資。由 於 股 權投�不在一個活躍市場交 易,其 公 允 價 值 採 用 折 現 現 金流量 � 定。估 值 中 使 用 的 主要假設 � 括 永 續 增 長 率、 通 貨 膨 脹 率、加 權平均資本 成本和流動性 � 價 等。折 現 率根據每個報告日的加權平 均 資 本 成 本 估 算。� 理層根 據中國國債於自各報告日期 至預期現金流量日期之同等 期間的收益率估算無風險

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

5 FINANCIAL RISK MANAGEMENT AND FINANCIAL INSTRUMENTS (Cont'd)

• 5.2 Fair value measurement of financial instruments (Cont'd)
• (b) Fair value measurements using significant unobservable inputs (Cont'd)
  • (ii) Valuation inputs and relationships to fair value (Cont'd)

The following table summarizes the quantitative information about the significant unobservable inputs used in level 3 value measurements:

5 金融風險管理及金融工具(續)

5.2 金融工具的公允價值計量(續)

(b) 使用重要不可觀察輸入值計量的公 允價值(續)

預期波動性降低10%及缺乏流動性折價降低 10%,則公允價值將增加約人民幣2,145,000元。

(ii) 估值輸入值及與公允價值的 關係(續) 下表總結第3層級價值計量中 使用的重要不可觀察輸入值 的定量信息:

Description 說明	Unobservable inputs 不可觀察輸入值	Relationship of unobservable inputs to fair value 不可觀察輸入值和公允價值的關係
Financial assets at FVPL – investments 按公允價值計入損益的 金融資產-投資	Expected volatility 預期波動性 Risk-free interest rate 無風險利率	Increased expected volatility by 10% and higher risk-free interest rate by 10% would increase fair value by approximately RMB1,686,000; lower expected volatility by 10% and lower risk-free interest rate by 10% would decrease fair value by approximately RMB1,624,000. 預期波動性提高10%及無風險利率提高10%, 則公允價值將增加約人民幣1,686,000元;預期 波動性降低10%及無風險利率降低10%,則公 允價值將減少約人民幣1,624,000元。
Financial liabilities at FVPL – redeemable equity instrument 按公允價值計入損益的 金融負債-可贖回 權益工具	Expected volatility 預期波動性 Discount for lack of marketability 缺乏流動性折價	Increased expected volatility by 10% and higher discount for lack of marketability by 10% would decrease fair value by approximately RMB2,258,000; lower expected volatility by 10% and lower discount for lack of marketability by 10% would increase fair value by approximately RMB2,145,000. 預期波動性提高10%及缺乏流動性折價提高 10%,則公允價值將減少約人民幣2,258,000元;

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

5 FINANCIAL RISK MANAGEMENT AND FINANCIAL INSTRUMENTS (Cont'd)

5 金融風險管理及金融工具(續)

5.2 Fair value measurement of financial instruments (Cont'd)

(c) Fair values of other financial instruments (unrecognised)

The Group also has a number of financial instruments which are not measured at fair value in the condensed consolidated interim statement of financial position such as loans to customers, trade and other receivables, borrowings and other payables. For these instruments, the fair values are not materially different to their carrying amounts, since the interest rate is close to current market rates, or the instruments are short-term in nature.

6 CREDIT FACILITATION AND SERVICE FEE

5.2 金融工具的公允價值計量(續)

(c) 其他金融工具的公允價值(未確認) 本集團還持有許多在簡明綜合中期 財務狀況表中未按公允價值計量 的金融工具,如客戶貸款、貿易及 其�應收款項、借款及其他應付款 項。�於這些工具,公允價值與其 賬面價值沒有實質性差異,因為利 率接近當前市場利率,或者該等工 具是短期的。

6 信貸撮合及服務費

			Six months ended 30 June
			截至6月30日止六個月
		2021	2020
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Unaudited)
		(未經審核)	(未經審核)
Upfront credit facilitation service fee	前期信貸撮合服務費	68,193	35,116
Post credit facilitation service fee	後期信貸撮合服務費	67,390	36,858
		135,583	71,974

Note: The unsatisfied performance obligation as at 30 June 2021 was approximately RMB40,123,000. Management expects that 100% of the transaction price allocated to the unsatisfied contracts as at 30 June 2021 will be recognized as revenue within the next twelve months.

附註:於2021年6月30日未完成履約責任約為人民幣 40,123,000元。管理層預期於2021年6月30日分配 至未履行合約的交易價的100%將於未來十二個 月內確認為收益。

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

7 OTHER REVENUE

7 其他收益

		Six months ended 30 June
		截至6月30日止六個月
		2021	2020
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Unaudited)
		(未經審核)	(未經審核)
Overdue charges	逾期費用	6,188	6,290
Referral service fee	介紹服務費	3,507	21,284
Interest income of loans to customers	向客戶貸款的利息收入	135	1,361
Others	其他	11,708	10,363
		21,538	39,298

8 EXPENSES BY NATURE

8 按性質劃分的開支

		Six months ended 30 June
		截至6月30日止六個月
		2021	2020
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Unaudited)
		(未經審核)	(未經審核)
Employee benefit expenses	僱員福利開支	106,039	111,067
External technical service fees	外部技術服務費	43,372	36,831
Fund transfer charges	資金轉賬費用	24,289	34,859
Marketing and advertising fees	營銷及廣告費	20,232	17,457
Depreciation and amortization	折舊及攤銷	16,035	40,860
Professional service fees	專業服務費	5,183	18,730
Office expenses	辦公開支	4,249	4,716
Others	其他	11,302	15,504
Total amount of origination and servicing expenses,	辦理及服務開支、
general and administrative expenses, research and	一般及行政開支、
development expenses and sales and marketing	研發開支及銷售及
expenses	營銷開支的總和	230,701	280,024

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

8 EXPENSES BY NATURE (Cont'd)

Note: Incremental costs to obtain arrangements where the Group is not the loan originator are generally expensed off when incurred, because the amortization periods of these incremental costs are one year or less. These costs are recorded as sales and marketing expenses.

9 EXPECTED CREDIT LOSS

The composition of ECL provided for six months ended 30 June 2021 and 2020 is as follows:

8 按性質劃分的開支(續)

附註:由於增量成本的攤銷期為一年或以下,為取得 本集團並非貸款發放者的安排的增量成本一般 於發生時支銷。該等成本被列賬為銷售及營銷 開支。

9 預期信用損失

截至2021年及2020年6月30日止六個月,撥備的 預期信用損失組成如下:

		Six months ended 30 June
		截至6月30日止六個月
		2021	2020
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Unaudited)
		(未經審核)	(未經審核)
Quality assurance fund (Note 15)		11,854	534,657
Trade receivables (Note 17)	質量保證金(附註15) 貿易應收款項(附註17)	2,989	50,888
Contract assets (Note 16)	合約資產(附註16)	1,759	38,597
Prepayments and other receivables	預付款項及其他應收款項	181	–
Loans to customers, net (Note 18)	客戶貸款淨額(附註18)	15	15,661
		16,798	639,803

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

10 OTHER LOSSES, NET

10 其他虧損淨額

			Six months ended 30 June
		截至6月30日止六個月
		2021	2020
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Unaudited)
		(未經審核)	(未經審核)
Fair value (loss)/gain on financial assets at FVPL	按公允價值計入損益的金融資產的
	公允價值(虧損)╱收益	(27,062)	15,945
Gain/(loss) on disposal of financial assets at FVPL	出售按公允價值計入損益的 金融資產收益╱(虧損)	1,389	(9,260)
Gain on disposal of a subsidiary	出售一間附屬公司收益	–	5,405
Government grants	政府補助	3,984	4,858
Interest expenses to trust senior tranche holders	信託優先級持有人的利息開支	–	(52)
Impairment loss (a)	減值損失(a)	(148,903)	(24,565)
Others	其他	3,384	(2,698)
		(167,208)	(10,367)

(a) The composition of impairment loss provided for the six months ended 30 June 2021 and 2020 is as follows:

(a) 截至2021年及2020年6月30日止六個月的 減值損失撥備組成如下:

			Six months ended 30 June
			截至6月30日止六個月 2021 2020 RMB'000 RMB'000 人民幣千元 人民幣千元 (Unaudited) (Unaudited) (未經審核) (148,903) (15,206)
			(未經審核)
Impairment on intangible assets (Note 13)	無形資產減值(附註13)
Impairment on investments accounted for using equity method	使用權益法入賬的投資減值	-	(9,359)
		(148,903)	(24,565)

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

11 INCOME TAX (CREDIT)/EXPENSE

The income tax (credit)/expense of the Group during the periods presented are analyzed as follows:

11 所得稅(抵免)╱開支

本集團期內所呈列的所得稅(抵免)╱開支分析 如下:

			Six months ended 30 June 截至6月30日止六個月
		2021	2020
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Unaudited)
		(未經審核)	(未經審核)
Current income tax	即期所得稅	15,015	3,396
Deferred income tax	遞延所得稅	(43,550)	6,314
		(28,535)	9,710

The Group's main applicable taxes and tax rates are as follows:

Cayman Islands

The Company was incorporated in the Cayman Islands. Under the current tax laws of the Cayman Islands, the Company is not subject to tax on income or capital gains. In addition, no withholding tax will be imposed on dividends distributed by the Company to its shareholders (the "Shareholders").

British Virgin Islands ("BVI")

The Group's entities incorporated in BVI are not subject to tax on income or capital gains.

Hong Kong ("HK")

The Group's entities incorporated in HK are subject to the profits tax rate of 16.5%.

Within the PRC

The subsidiaries and variable interest entities of the Group established within the PRC are generally subject to the standard enterprise income tax rate of 25%, except for entities qualified as "High and New Technology Enterprise" which are entitled to the preferential income tax rate of 15%.

本集團的主要適用稅項及稅率如下:

開曼群島

本公司於開曼群島註冊成立。根據開曼群島的 現行稅法,本公司毋須繳納所得稅或資本利得 稅。此外,概無對本公司向股東(「股東」)分派 的股息徵收預扣稅。

英屬維爾京群島(「英屬維爾京群島」)

本集團於英屬維爾京群島註冊成立的實體毋須 繳納所得稅或資本利得稅。

香港(「香港」)

本集團於香港註冊成立的實體須繳納16.5%稅 率的利得稅。

中國境內

本集團於中國境內註冊成立的附屬公司和可變 利益實體一般須按標準的企業所得稅率25%繳 納企業所得稅,而被認定為「高新技術企業」的 實體享有15%的優惠所得稅稅率。

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

12 LOSS PER SHARE

(a) Basic loss per share is calculated by dividing the loss for the period attributable to owners of the Company by the weighted average number of ordinary shares in issue during the period.

12 每股虧損

(a) 每股基本虧損乃按本公司擁有人應佔期 內虧損除以期內已發行普通股加權平均 數計算。

			Six months ended 30 June
			截至6月30日止六個月
		2021	2020
		(Unaudited)	(Unaudited)
		(未經審核)	(未經審核)
Loss for the period attributable to owners of the Company (RMB'000)	本公司擁有人應佔期內虧損 (人民幣千元)	(177,291)	(730,839)
Weighted average number of ordinary shares in issue ('000)	已發行普通股加權平均數(千股)	1,211,483	1,003,299
Basic loss per share (expressed in RMB)	每股基本虧損(以人民幣列示)	(0.15)	(0.73)

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

12 LOSS PER SHARE (Cont'd)

(b) Diluted loss per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares.

As the Group incurred losses for the six months ended 30 June 2021 and 2020, the potential ordinary shares were not included in the calculation of dilutive loss per share, as their inclusion would be anti-dilutive. Accordingly, diluted loss per share for the six months ended 30 June 2021 and 2020 is the same as basic loss per share.

12 每股虧損(續)

(b) 每股攤薄虧損乃假設轉換所有具潛在攤 薄影響的普通股而調整發行在外普通股 加權平均數的方式計算。

由於本集團於截至2021年及2020年6月30 日止六個月錄得虧損,在計算每股攤薄 虧損時並無計及潛在普通股,原因是計 及潛在普通股將具有反攤薄影響。因此, 截至2021年及2020年6月30日止六個月每 股攤薄虧損與每股基本虧損相同。

Six months ended 30 June

		截至6月30日止六個月
		2021	2020
		(Unaudited)	(Unaudited)
		(未經審核)	(未經審核)
Loss for the period attributable to owners of the Company (RMB'000)	本公司擁有人應佔期內虧損 (人民幣千元)	(177,291)	(730,839)
Weighted average number of ordinary shares in issue ('000)	已發行普通股加權平均數(千股)	1,211,483	1,003,299
Weighted average number of ordinary shares for calculation of	用於計算每股攤薄盈利的 普通股加權平均數(千股)
diluted earnings per share ('000)		1,211,483	1,003,299
Diluted loss per share (expressed in RMB)	每股攤薄虧損(以人民幣列示)	(0.15)	(0.73)

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

13 INTANGIBLE ASSETS 13 無形資產

Cost 成本 As at 1 January 2021 於2021年1月1日 482,377 25,828 9,810 3,260 499,000 5,272 1,025,547 Addition from purchases – 375 – – – – 375 購買添置 As at 30 June 2021 於2021年6月30日 482,377 26,203 9,810 3,260 499,000 5,272 1,025,922 Accumulated amortization 累計攤銷 As at 1 January 2021 於2021年1月1日 – (21,299) (9,647) (1,277) – (1,677) (33,900) Amortization charge 期內攤銷開支 for the period – (1,587) (163) – – (292) (2,042) As at 30 June 2021 於2021年6月30日 – (22,886) (9,810) (1,277) – (1,969) (35,942) Impairment losses 減值損失 As at 1 January 2021 於2021年1月1日 (448,630) – – (1,983) (39,897) – (490,510) Addition – – – – (148,903) – (148,903) 添置 As at 30 June 2021 於2021年6月30日 (448,630) – – (1,983) (188,800) – (639,413) Net book value 賬面淨值 As at 30 June 2021 於2021年6月30日 33,747 3,317 – – 310,200 3,303 350,567 Cost 成本 As at 1 January 2020 於2020年1月1日 482,377 24,676 9,810 3,260 499,000 5,272 1,024,395 Addition from purchases – 1,152 – – – – 1,152 購買添置 As at 31 December 2020 於2020年12月31日 482,377 25,828 9,810 3,260 499,000 5,272 1,025,547 Accumulated amortization 累計攤銷 As at 1 January 2020 於2020年1月1日 – (15,705) (7,684) (1,277) – (1,091) (25,757) Amortization charge 年內攤銷開支 for the year – (5,594) (1,963) – – (586) (8,143) As at 31 December 2020 於2020年12月31日 – (21,299) (9,647) (1,277) – (1,677) (33,900) Impairment losses 減值損失 As at 1 January 2020 於2020年1月1日 (145,788) – – – – – (145,788) Addition (302,842) – – (1,983) (39,897) – (344,722) 添置 As at 31 December 2020 於2020年12月31日 (448,630) – – (1,983) (39,897) – (490,510) Net book value 賬面淨值 As at 31 December 2020 於2020年12月31日 33,747 4,529 163 – 459,103 3,595 501,137		Goodwill 商譽 RMB'000 人民幣千元	Software 軟件 RMB'000 人民幣千元	Platform 平台 RMB'000 人民幣千元	Applications 應用 RMB'000 人民幣千元	Payment license 支付牌照 RMB'000 人民幣千元 (Note (a)) (附註(a))	Trademark 商標 RMB'000 人民幣千元	Total 總計 RMB'000 人民幣千元

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

13 INTANGIBLE ASSETS (Cont'd)

(a) Impairment tests for payment license

The payment license which arose from the acquisition of Beijing Shouhui Kaizhuo Technology Co., Ltd*(北京首惠開桌科技 有限公司)("Kaizhuo Technology") on 31 December 2017 is considered to have an indefinite live and is carried at cost less any subsequent impairment loss. The Group is required to apply for the renewal of the license issued from the People's Bank of China ("PBOC") every five years with immaterial administrative expenses and the Group considered that there were no practical difficulties in the application of renewal process. The Group has tested whether the payment license with indefinite useful life had suffered any impairment on a periodic basis by conducting review to determine whether the latest events and circumstances continue to support an indefinite useful life assessment.

Impairment review on the payment license with indefinite useful life has been conducted by the management as of 30 June 2021 according to IAS 36 "Impairment of assets". The Group compares the carrying amount of the payment license against its recoverable amount. The recoverable amount of the payment license was determined based on fair value less cost of disposal ("FVLCD"), which was estimated by management with reference to the comparable transaction cases within past one year. Based on the impairment assessment, an impairment loss of approximately RMB148,903,000 was recognized against the payment license for the six months ended 30 June 2021.

13 無形資產(續)

(a) 支付牌照減值測試

因2017年12月31日收購北京首惠開桌科 技有限公司(「開桌科技」)而獲得的支付 牌照被視為具有無限可使用年期,並以 成本減去任何後續減值損失進行記量。 本集團須每五年向中國人民銀行(「中國 人民銀行」)申請牌照續期,並承擔較小 的行政開支,本集團認為申請牌照續期 流程不存在實際困難。本集團通過定期 審查以決定最新事件與情況是否繼續支 援無限可使用年期評估,並測試無限可 使用年期支付牌照是否存在減值。

於2021年6月30日,管理層已根據國際會 計準則第36號「資產減值」對的無限可使 用年期的支付牌照進行減值檢討。本集 團將支付牌照的賬面值與其可收回金額 對比。支付牌照的可收回金額乃根據公 允價值減出售成本(「公允價值減出售成 本」)而釐定,而後者乃管理層經參照過 去一年內進行的可茲比較交易事項估計 得出。根據減值評估,截�2021年6月30 日止六個月的支付牌照已確認減值損失 約人民幣148,903,000元。

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

14 PREPAYMENTS AND OTHER RECEIVABLES 14 預付款項及其他應收款項

Total	總計	177,646	132,520
		177,354	132,128
Others	其他	34,617	28,430
Receivables from investees	應收投資者款項	4,000	4,000
Value-added tax receivables	應收增值稅	11,952	16,340
Prepaid expenses	預付開支	12,734	10,157
Receivables from disposal of bad debts	處置壞賬的應收款項	16,924	12,311
employee incentive schemes	預扣稅	21,998	21,998
Withholding tax paid on behalf of grantees under	代表僱員獎勵計劃承授人支付的
Deposits	按金	75,129	38,892
Included in current assets:	計入流動資產:
		292	392
Rental deposits	租金按金	292	392
Included in non-current assets:	計入非流動資產:
		(未經審核)	(經審核)
		(Unaudited)	(Audited)
		人民幣千元	人民幣千元
		RMB'000	RMB'000
		6月30日	12月31日
		於2021年	於2020年
		2021	2020
		30 June	31 December
		As at	As at

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

15 QUALITY ASSURANCE FUND PAYABLE AND RECEIVABLE The following table sets forth the Group's quality assurance fund payable

movements for the six months ended 30 June 2021 and 2020:

15 應付及應收質量保證金

下表載列截至2021年及2020年6月30日止六個 月本集團應付質量保證金的變動:

	Six months ended 30 June
		截至6月30日止六個月
		2021	2020
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Unaudited)
		(未經審核)	(未經審核)
Opening balance	期初結餘	53,867	1,559,495
Fair value of newly written quality assurance obligation 新訂質量保證責任的公允價值		61,651	63,922
ECL for quality assurance fund	質量保證金的預期信用損失	19,397	499,812
Release of the margin	解除保證金	(4,306)	(6,000)
Payouts during the period, net	期內開支淨額	(68,829)	(1,735,571)
Ending balance	期末結餘	61,780	381,658

In accordance with the regulatory guidances issued by the PRC authorities, the Group conducted the P2P Exiting in the first half of 2020. In particular, the Group ceased to facilitate any loans from individual investors, and in the meantime all remaining outstanding loans (that were facilitated by the Group) to individual investors before 30 June 2020 had been settled by the Group by the repayment of approximately RMB625 million in cash to the individual investors or transferred to the third party institutional companies.

根據中國政府發佈的監管指引,本集團於2020 年上半年開展了P2P清退。特別是,本集團停止 向個人投資者撮合任何貸款,同時,於2020年6 月30日前本集團已通過向個人投資者支付約人 民幣625百萬元現金或轉讓至第三方機構的方 式結清了所有個人投資者的剩餘未償貸款(由 本集團撮合的)。

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

15 QUALITY ASSURANCE FUND PAYABLE AND RECEIVABLE

(Cont'd)

The following tables set forth the Group's quality assurance fund receivable movements for the six months ended 30 June 2021 and 2020:

15 應付及應收質量保證金(續)

下表載列截至2021年及2020年6月30日止六個 月本集團應收質量保證金的變動:

		Six months ended 30 June
		截至6月30日止六個月
		2021	2020
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Unaudited)
		(未經審核)	(未經審核)
Opening balance	期初結餘	22,190	566,801
Fair value of newly written quality assurance obligation 新訂質量保證責任的公允價值		61,651	63,922
ECL for quality assurance fund (a)	質量保證金的預期信用損失(a)	3,237	(40,845)
Contribution received from borrowers	借款人出資	(56,938)	(458,877)
Ending balance	期末結餘	30,140	131,001

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

• 15 QUALITY ASSURANCE FUND PAYABLE AND RECEIVABLE 15 應付及應收質量保證金(續) (Cont'd)

			As at 30 June 2021
			於2021年6月30日
			ECL staging
			預期信用損失階段
		Stage 1	Stage 2	Stage 3	Total
		第1階段	第2階段	第3階段	總計
		RMB'000	RMB'000	RMB'000	RMB'000
		人民幣千元	人民幣千元	人民幣千元	人民幣千元
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)
			(未經審核) (未經審核) (未經審核) (未經審核)
Quality assurance fund receivable Less: ECL allowance under IFRS 9 (a)	應收質量保證金 減:根據國際財務報告準則 第9號計量的預期信用	26,692	1,153	616,252	644,097
	損失撥備(a)	(454)	(106)	(613,397)	(613,957)
Quality assurance fund receivable, net	應收質量保證金淨額	26,238	1,047	2,855	30,140

應收質量保證金淨額	17,060	686	4,444	22,190
				(790,786)
	19,722	1,387	791,867	812,976
	(經審核)	(經審核)	(經審核)	(經審核)
	(Audited)	(Audited)	(Audited)	(Audited)
	人民幣千元	人民幣千元	人民幣千元	人民幣千元
	RMB'000	RMB'000	RMB'000	RMB'000
	第1階段	第2階段	第3階段	總計
	Stage 1 Stage 2			Total
	預期信用損失階段
		ECL staging
	應收質量保證金 減:根據國際財務報告準則 第9號計量的預期信用 損失撥備(a)	(2,662)	(701)	As at 31 December 2020 於2020年12月31日 Stage 3 (787,423)

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

15 QUALITY ASSURANCE FUND PAYABLE AND RECEIVABLE

• (Cont'd)
• (a) The following tables explain the changes in the ECL allowance of quality assurance fund receivable by stage for the six months ended 30 June 2021 and 2020:

15 應付及應收質量保證金(續)

(a) 下表分階段說明截至2021年及2020年6月 30日止六個月應收質量保證基金預期信 用損失撥備的變動:

			Six months ended 30 June 2021
			截至2021年6月30日止六個月
		Stage 1	Stage 2	Stage 3
		第1階段	第2階段	第3階段
		12-month ECL	Lifetime ECL	Lifetime ECL	Total
		12個月預期	存續期預	存續期預期
		信用損失	期信用損失	信用損失	總計
		RMB'000	RMB'000	RMB'000	RMB'000
		人民幣千元	人民幣千元	人民幣千元	人民幣千元
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)
		(未經審核)	(未經審核)	(未經審核)	(未經審核)
Opening balance	期初結餘	2,662	701	787,423	790,786
Net decrease for the period (i)	本期淨減少(i)	(2,195)	(565)	(174,069)	(176,829)
Transfer	轉移
Transfer from Stage 1 to Stage 2	第1階段轉移至第2階段	(21)	21	–	–
Transfer from Stage 1 to Stage 3	第1階段轉移至第3階段	(10)	–	10	–
Transfer from Stage 2 to Stage 1	第2階段轉移至第1階段	18	(18)	–	–
Transfer from Stage 2 to Stage 3	第2階段轉移至第3階段	–	(33)	33	–
Transfer from Stage 3 to Stage 2	第3階段轉移至第2階段	–	–	–	–
Ending balance	期末結餘	454	106	613,397	613,957

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

15 QUALITY ASSURANCE FUND PAYABLE AND RECEIVABLE

• (Cont'd)
• (a) (Cont'd)

15 應付及應收質量保證金(續)

(a) (續)

Ending balance	期末結餘	8,726	7,979	731,670	748,375
Transfer from Stage 3 to Stage 2	第3階段轉移至第2階段	–	104	(104)	–
Transfer from Stage 2 to Stage 3	第2階段轉移至第3階段	–	(25,961)	25,961	–
Transfer from Stage 2 to Stage 1	第2階段轉移至第1階段	4,211	(4,211)	–	–
Transfer from Stage 1 to Stage 3	第1階段轉移至第3階段	(5,750)	–	5,750	–
Transfer from Stage 1 to Stage 2	第1階段轉移至第2階段	(3,763)	3,763	–	–
Transfer	轉移
for the period (i)		(35,421)	(15,465)	32,810	(18,076)
Net (decrease)/increase	本期淨(減少)╱增加(i)
Opening balance	期初結餘	49,449	49,749	667,253	766,451
		(未經審核)	(未經審核)	(未經審核)	(未經審核)
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)
		人民幣千元	人民幣千元	人民幣千元	人民幣千元
		RMB'000	RMB'000	RMB'000	RMB'000
		信用損失	信用損失	信用損失	總計
		12個月預期	存續期預期	存續期預期
		12-month ECL	Lifetime ECL	Lifetime ECL	Total
		第1階段	第2階段	第3階段
		Stage 1	Stage 2	Stage 3
			截至2020年6月30日止六個月
			Six months ended 30 June 2020

(i) This item includes changes of PD, EAD and LGD due to routine updates to model parameters, and the impact of stage changes on the measurement of ECL.

(i) 該項包括模型參數日常更新引起的違約 概率、違約敞口及違約損失率的變化,以 及階段變化對預期信用損失計量的影響。

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

16 CONTRACT ASSETS/(LIABILITIES)

16 合約資產╱(負債)

		As at	As at
		30 June	31 December
		2021	2020
		於2021年	於2020年
		6月30日	12月31日
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Audited)
		(未經審核)	(經審核)
Contract assets	合約資產	652,728	638,822
Less: ECL allowance	減:預期信用損失撥備	(605,094)	(603,335)
Contract assets, net	合約資產淨值	47,634	35,487
Contract liabilities	合約負債	(16,485)	(17,214)

The activity in the total ECL allowance for the six months ended 30 June 2021 and 2020 consisted of the following:

截至2021年及2020年6月30日止六個月,預期信 用損失撥備總額變動包括下列各項:

		Six months ended 30 June 截至6月30日止六個月
		2021	2020
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Unaudited)
		(未經審核)	(未經審核)
Opening balance	期初結餘	(603,335)	(461,739)
Provision of ECL for the period	期內預期信用損失撥備	(1,759)	(38,597)

Ending balance 期末結餘 (605,094) (500,336)

Note: The Group receives payments from borrowers over the tenures of the loans. Contract assets represent the Group's right to consideration in exchange for services that the Group has provided. A substantial majority of the Group's contract assets as at 30 June 2021 would be realized within the next twelve months as the weighted average term of the arrangements where the Group was not the loan originator was less than twelve months. The Group determined that there was no significant financing component for its arrangements where the Group was not the loan originator.

附註:本集團在貸款期限內收到借款人付款。合約資 產指本集團有權收取以換取本集團所提供服務 的代價。由於本集團並非貸款發放者安排的加 權平均期限少於十二個月,本集團於2021年6月 30日的絕大部分合約資產將於未來十二個月內 變現。本集團認為,就本集團並非貸款發放者的 安排而言,並無重大融資成分。

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

17 TRADE RECEIVABLES

17 貿易應收款項

		As at	As at
		30 June	31 December
		2021	2020
		於2021年	於2020年
		6月30日	12月31日
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Audited)
		(未經審核)	(經審核)
Referral and credit card technology service receivables	介紹及信用卡科技服務應收款項	211,564	192,755
Others	其他	2,115	1,497
		213,679	194,252
ECL allowance	預期信用損失撥備	(185,306)	(182,317)
Trade receivables, net	貿易應收款項淨額	28,373	11,935

The activity in the total ECL allowance for trade receivables as at 30 June 2021 and 2020 consisted of the following:

截至2021年及2020年6月30日止六個月,貿易應 收款項的預期信用損失撥備總額變動包括下列 各項:

		Six months ended 30 June
		截至6月30日止六個月
		2021	2020
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Unaudited)
		(未經審核)	(未經審核)
Opening balance	期初結餘	(182,317)	(75,262)
ECL allowance for the period	期內預期信用損失撥備	(2,989)	(50,888)
Ending balance	期末結餘	(185,306)	(126,150)

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

17 TRADE RECEIVABLES (Cont'd)

Aging analysis of trade receivables based on invoice date is as follows:

貿易應收款項基於發票日期的賬齡分析如下:

		As at	As at
		30 June	31 December
		2021	2020
		於2021年	於2020年
		6月30日	12月31日
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Audited)
		(未經審核)	(經審核)
Within 30 days		4,356	4,434
	30天內
More than 30 days	超過30天	209,323	189,818
		213,679	194,252

¹⁷ 貿易應收款項(續)

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

18 LOANS TO CUSTOMERS, NET 18 客戶貸款淨額

As at 30 June 2021 於2021年6月30日 ECL staging 預期信用損失階段 Purchased credit-Stage 1 Stage 2 Stage 3 impaired Total 第1階段 第2階段 第3階段 購入已發生 信用減值 總計 RMB'000 RMB'000 RMB'000 RMB'000 RMB'000 人民幣千元 人民幣千元 人民幣千元 人民幣千元 人民幣千元 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (未經審核) (未經審核) (未經審核) (未經審核) (未經審核) Loans 貸款 – – 287,109 – 287,109 New financial assets purchased 新購入金融資產 – – – 144,355 144,355 Less: ECL allowance under IFRS 9 (b) 減:國際財務報告準則 第9號下的預期 信用損失撥備(b) – – (282,522) – (282,522) Loans to customers, net 貸客戶貸款淨額 – – 4,587 144,355 148,942

Loans to customers, net	客戶貸款淨額	–	–	4,924	166,279	171,203
	信用損失撥備(b)	–	–	(282,507)	–	(282,507)
under IFRS 9 (b)	第9號下的預期
Less: ECL allowance	減:國際財務報告準則
New financial assets purchased	新購入金融資產	–	–	–	166,279	166,279
Loans	貸款	–	–	287,431	–	287,431
		人民幣千元	人民幣千元	人民幣千元	人民幣千元	人民幣千元
		RMB'000	RMB'000	RMB'000	RMB'000	RMB'000
		第1階段	第2階段	第3階段	信用減值	總計
					購入已發生
		Stage 1	Stage 2	Stage 3	impaired	Total
			預期信用損失階段		credit
			ECL staging		Purchased
				於2020年12月31日
				As at 31 December 2020

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

18 LOANS TO CUSTOMERS, NET (Cont'd)

(a) The following table explains the aging of loans to customers past due for the six months ended 30 June 2021 and year ended 31 December 2020:

18 客戶貸款淨額(續)

(a) 下表說明截至2021年6月30日止六個月及 截至2020年12月31日止年度逾期客戶貸 款的賬齡:

			Overdue days
			逾期天數
		Less than	30 days to	90 days to	Over
		30 days	90 days	180 days	180 days	Total
		少於30天	30天至90天	90天至180天	180天以上	總計
		RMB'000	RMB'000	RMB'000	RMB'000	RMB'000
		人民幣千元	人民幣千元	人民幣千元	人民幣千元	人民幣千元
(Unaudited)	(未經審核)
As at 30 June 2021	於2021年6月30日
Loans to customers past due 已逾期的客戶貸款		–	–	–	287,109	287,109
Purchased credit-impaired	購入已發生信用減值	6,054	1,071	3,372	133,845	144,342
(Audited)	(經審核)
As at 31 December 2020	於2020年12月31日
Loans to customers past due 已逾期的客戶貸款		–	–	2,167	285,264	287,431
Purchased credit-impaired	購入已發生信用減值	16,209	2,045	9,275	114,442	141,971

The overdue days of purchased credit-impaired financial assets are aged according to their original contractual terms.

購入已發生信用減值的金融資產的逾期 日數按原合同條款進行賬齡處理。

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

18	LOANS TO CUSTOMERS, NET (Cont'd)
	(b)	The activity in the total ECL allowance for the six months ended
		30 June 2021 and 2020 consisted of the following:

18 客戶貸款淨額(續)

(b) 截至2021年及2020年6月30日止六個月, 預期信用損失撥備總額活動包括下列各 項:

			Six months ended 30 June 2021
				截至2021年6月30日止六個月
		Stage 1	Stage 2 Stage 3
		第1階段	第2階段	第3階段
		12-month ECL	Lifetime ECL	Lifetime ECL	Total
		十二個月	存續期	存續期
		預期信用損失	預期信用損失	預期信用損失	總計
		RMB'000	RMB'000	RMB'000	RMB'000
		人民幣千元	人民幣千元	人民幣千元	人民幣千元
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)
		(未經審核)	(未經審核)	(未經審核)	(未經審核)
Opening balance	期初結餘	–	–	282,507	282,507
Net increase for the period (i)	本期淨增加(i)	–	–	15	15
Ending balance	期末結餘	–	–	282,522	282,522

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

18 LOANS TO CUSTOMERS, NET (Cont'd)

(b) The activity in the total ECL allowance for the six months ended 30 June 2021 and 2020 consisted of the following: (Cont'd)

18 客戶貸款淨額(續)

(b) 截至2021年及2020年6月30日止六個月, 預期信用損失撥備總額活動包括下列各 項:(續)

Ending balance	期末結餘	2	10	297,123	297,135
Transfer from Stage 2 to Stage 3	第2階段轉移至第3階段	–	(328)	328	–
Transfer from Stage 2 to Stage 1	第2階段轉移至第1階段	2	(2)	–	–
Transfer from Stage 1 to Stage 3	第1階段轉移至第3階段	(84)	–	84	–
Transfer from Stage 1 to Stage 2	第1階段轉移至第2階段	(13)	13	–	–
Transfer	轉移
for the period (i)		(570)	(86)	16,317	15,661
Net (decrease)/increase	本期淨(減少)╱增加(i)
Opening balance	期初結餘	667	413	280,394	281,474
		(未經審核)	(未經審核)	(未經審核)	(未經審核)
		(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)
		人民幣千元	人民幣千元	人民幣千元	人民幣千元
		RMB'000	RMB'000	RMB'000	RMB'000
		預期信用損失	預期信用損失	預期信用損失	總計
		十二個月	存續期	存續期
		12-month ECL	Lifetime ECL	Lifetime ECL	Total
		第1階段	第2階段	第3階段
		Stage 1	Stage 2	Stage 3
				截至2020年6月30日止六個月
				Six months ended 30 June 2020

(i) This item includes changes of PD, EAD and LGD due to routine updates to model parameters, and the impact of stage changes on the measurement of ECL.

As at 30 June 2021 and 31 December 2020, these loans are primarily personal loans made to individual borrowers through the consolidated trusts and a subsidiary of the Group and the new financial assets purchased from both individual and institutional investors.

(i) 該項包括模型參數日常更新引起的違約 概率、違約敞口及違約損失率的變化,以 及階段變化對預期信用損失計量的影響。

於2021年6月30日及2020年12月31日,該等貸款 主要為通過被合併的信託及本集團的一間附屬 公司向個人借款人發放的個人貸款及從個人投 資者和機構投資者新購入的金融資產。

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

18 LOANS TO CUSTOMERS, NET (Cont'd)

18 客戶貸款淨額(續)

項:(續)

(b) The activity in the total ECL allowance for the six months ended 30 June 2021 and 2020 consisted of the following: (Cont'd)

Set out below are the summarized financial information for the consolidated trusts. There was no loan written off for the six months ended 30 June 2021 and 2020.

以下截列被合併的信託的財務資料概 要。截至2021年及2020年6月30日止六個 月,概無核銷貸款。

(b) 截至2021年及2020年6月30日止六個月, 預期信用損失撥備總額活動包括下列各

		Six months ended 30 June
		截至6月30日止六個月
		2021	2020
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Unaudited)
		(未經審核)	(未經審核)
Interest income of loans to customers	向客戶貸款的利息收入	135	1,245
Interest expenses to trust senior tranche holders 信託優先級持有人的利息開支		–	(52)
ECL	預期信用損失	(37)	(892)
		As at	As at
		30 June	31 December
		2021	2020
		於2021年	於2020年
		6月30日	12月31日
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Audited)
		(未經審核)	(經審核)
Loans to customers, net	客戶貸款淨額	4,587	4,924

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

	CASH AND BANK BALANCES		19		現金及銀行結餘
(a)	Cash and cash equivalents			(a)	現金及現金等價物
					As at	As at
					30 June	31 December
					2021	2020
					於2021年	於2020年
					6月30日	12月31日
					RMB'000	RMB'000
					人民幣千元	人民幣千元
					(Unaudited)	(Audited)
					(未經審核)	(經審核)
	Cash at bank	銀行現金			276,519	412,684
(b)	Restricted cash			(b)	受限制現金
					As at	As at
					30 June	31 December
					2021	2020
					於2021年	於2020年
					6月30日	12月31日
					RMB'000	RMB'000

		As at	As at
		30 June	31 December
		2021	2020
		於2021年	於2020年
		6月30日	12月31日
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Audited)
		(未經審核)	(經審核)
Cash held on behalf of investors	通過平台代投資者持有的現金(i)
through platform (i)		127,237	152,194
Deposit of secured transactions	有擔保交易保證金	94,473	69,541
		221,710	221,735
(i) Cash held on behalf of investors through platform as at 30 June 2021 and 31 December 2020 mainly represented the cash in	(i)		於2021年6月30日及2020年12月31日,通過 平台代投資者持有的現金主要為託管賬

戶內代獨立投資持有的資金。

custody account on behalf of individual investment to hold fund.

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

BANK AND OTHER BORROWINGS	20 銀行及其他借款
		As at	As at
		30 June	31 December
		2021	2020
		於2021年	於2020年
		6月30日	12月31日
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Audited)
		(未經審核)	(經審核)
Non-current liabilities:	非流動負債:
Bank borrowings (a) – secured	銀行借款(a)-有擔保	30,811	34,046
Other borrowings (b) – secured and unsecured	其他借款(b)-有擔保及無擔保	25,000	25,000
Less: current portion of non-current liabilities	減:一年內到期的非流動負債	(31,750)	(31,563)
		24,061	27,483
Included in current liabilities:	計入流動負債:
Bank borrowings (a) – secured	銀行借款(a)-有擔保	90,000	90,000
Other borrowings (c) – secured and unsecured	其他借款(b)-有擔保及無擔保	50,000	50,000
Current portion of non-current liabilities	一年內到期的非流動負債	31,750	31,563
		171,750	171,563
Total bank and other borrowings	銀行及其他借款總額	195,811	199,046
Borrowings by repayment schedule:	按還款計劃劃分的借款:
Within 1 year	一年內	171,750	171,563
1 year to 2 years	一年至二年	7,141	6,942
2 years to 5 years	二年至五年	16,920	20,541
		195,811	199,046

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

20 BANK AND OTHER BORROWINGS (Cont'd)

(a) In August 2017, the Group borrowed a loan of RMB53,000,000 from Bank of Hangzhou. The loan bears interest at the annual rate of 115% of the five-year loan benchmark rate of the People's Bank of China. The loan is repayable in eight years from the borrowing date and is guaranteed by Sun Haitao, the director of the Company, and secured by the pledge of the building held by Hangzhou Enniu Network Technology Co., Ltd. ("Enniu Network"). The amount of approximately RMB6,750,000 will be repaid within one year and was classified as current liabilities.

In March 2020, the Group borrowed a loan of RMB90,000,000 from Bank of Wenzhou. The loan is secured by the pledge of the building of Enniu Network with the fixed interest rate of 6.75% per annum. In March 2021, the Group renewed the loan of RMB90,000,000 with the fixed interest rate of 6.5% after expiry.

(b) In May 2017, Enniu Network, together with Shenzhen Tiantu Xingneng Investments (Limited Partnership) ("Tiantu Xingneng") and China Merchants Securities Asset Management Co., Ltd. ("CMS AM"), established a limited partnership, Hangzhou Shangniu Investment Management Partnership (Limited Partnership) ("Hangzhou Shangniu"). In November and December 2017, Enniu Network entered into agreements with Tiantu Xingneng and CMS AM, respectively that Enniu Network would repay the partnership funds contributed by Tiantu Xingneng and CMS AM in four years with fixed interest rates of 8% and 8.035% per annum, respectively.

The partnership funds of RMB25,000,000 and RMB90,000,000 contributed by Tiantu Xingneng and CMS AM, respectively recorded as borrowing by the Group at 31 December 2019. The partnership funds were secured by a pledge of the ordinary shares of Kaizhuo Technology held by the Group. In March 2020, Enniu Network repaid the remaining partnership fund of RMB90,000,000 to CMS AM. The partnership funds of RMB25,000,000 contributed by Tiantu Xingneng is due on 23 November 2021.

(c) In May 2020, the Group borrowed RMB50,000,000 with fixed rate of 8.035% per annum from Shenzhen Tiantu Xingfu Equity Investments Management Co., Ltd. The loan is guaranteed by Sun Haitao, the director of the Company. In May 2021, the Group renewed the loan and will repay in December 2021.

20 銀行及其他借款(續)

(a) 於2017年8月,本集團向杭州銀行借貸人 民幣53,000,000元。貸款利息按中國人民 銀行五年期貸款基準利率的115%的年利 率計算。該貸款須於借款日期起八年內 償還,由本公司董事孫海濤擔保及由杭 州恩牛網絡技術有限公司(「恩牛網絡」) 持有的樓宇作抵押。約人民幣6,750,000元 將於一年內償還並獲分類為流動負債。

於2020年3月,本 集 團 從 溫 州 銀 行 借 貸 人民幣90,000,000元。貸款以恩牛網絡的 樓宇作抵押,固定利率為每年6.75%。於 2021年3月,本集團於到期後以固定利率 6.5%續貸人民幣90,000,000元。

(b) 於2017年5月,恩牛網絡連同深圳天圖興 能投資企業(有限合夥)(「天圖興能」)及 招 商 證 券 資 產 管 理 有 限 公 司(「招商資 管」)設立了一家有限合夥企業,杭州商 牛投資管理合夥企業(有限合夥)(「杭州 商牛」)。於2017年11月及12月,恩牛網絡 分別與天圖興能及招商資管訂立協議, 據此,恩牛網絡將分別按固定年利率8% 及8.035%於四年內償還天圖興能及招商 資管出資的合夥基金。

於2019年12月31日,天圖興能及招商資 管分別出資的合夥基金人民幣25,000,000 元及人民幣90,000,000元被本集團視為借 款。該合夥基金由本集團所持開桌科技 的普通股抵押作擔保。於2020年3月,恩 牛網絡向招商資管償還餘下合夥基金人 民幣90,000,000元。天圖興能出資的合夥 基金人民幣25,000,000元於2021年11月23 日到期。

(c) 於 2020 年 5 月,本 集 團 從 深 圳 天 圖 興 福股權投資管理有限公司借款人民幣 50,000,000元,固定利率為每年8.035%。貸 款由本公司董事孫海濤擔保。於2021年5 月,本集團對其進行續貸,並將於2021年 12月償還。

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

21 TRADE AND OTHER PAYABLES 21 貿易及其他應付款項

		As at	As at
		30 June	31 December
		2021	2020
		於2021年	於2020年
		6月30日	12月31日
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Audited)
		(未經審核)	(經審核)
Payables for equity investments	股權投資應付款項	214,825	214,825
Payables to settlement banks	應付收單銀行款	22,266	21,582
Payroll and welfare payables	應付工資及福利	20,387	23,815
Trade payables (a)	貿易應付款項(a)	9,132	8,149
Online promotion marketing expenses payables	網絡推廣營銷應付款項	7,146	2,471
Payables to related parties	應付關聯方款項	1,963	218
Deposit payables	應付按金	1,215	2,387
Other tax payables	其他應付稅項	1,198	7,375
Payables on behalf of credit card users	代表信用卡用戶應付款項	629	959
Others	其他	31,938	34,557
		310,699	316,338

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

21 TRADE AND OTHER PAYABLES (Cont'd)

(a) Trade payables represent payables of fund transfer charges and collection service charges.

The aging analysis of trade payables based on invoice date is as below:

• 21 貿易及其他應付款項(續)
• (a) 貿易應付款項指資金轉賬費用及回收服 務收費的應付款項。

貿易應付款項基於發票日期的賬齡分析 載列如下:

		As at	As at
		30 June	31 December
		2021	2020
		於2021年	於2020年
		6月30日	12月31日
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Audited)
		(未經審核)	(經審核)
Within 30 days	30天內	4,563	3,519
30 to 90 days	30天至90天	2,886	1,847
90 to 180 days	90天至180天	658	2,041
180 to 360 days	180天至360天	825	742
Over 360 days	360天以上	200	–
		9,132	8,149

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

22 RELATED PARTY TRANSACTIONS

Parties are considered to be related if one party has the ability, directly or indirectly, control the other party or exercise significant influence over the other party in making financial and operation decisions. Parties are also considered to be related if they are subject to common control. Members of key management and their close family member of the Group are also considered as related parties.

As of 30 June 2021, the relationship and details of transactions between the Group and other related parties are disclosed below:

22 關聯方交易

倘一方有能力直接或間接控制另一方或對另一 方的財務及經營決策行使重大影響力,均被視 為關聯方。倘彼等受共同控制,亦被視為關聯 方。本集團主要管理層成員及彼等近親亦被視 作關聯方。

於2021年6月30日,本集團與其他關聯方的關係 及交易詳情披露如下:

與本集團的關係
Director of the Company
本公司董事
Chief Executive Officer and Director of the Company
本公司行政總裁及董事
Director of the Company
本公司董事
Director of the Company
本公司董事
Director of the Company
本公司董事
Director of the Company
本公司董事
Director of the Company
本公司董事
Director of the Company
本公司董事
Key management personnel of the entity
實體之主要管理人員
Key management personnel of the entity
實體之主要管理人員

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

22 RELATED PARTY TRANSACTIONS (Cont'd) 22 關聯方交易(續)

Name of the major related parties Relationship with the Group 主要關聯方名稱 與本集團的關係 Zhejiang Anniu Technology Co., Ltd. Investee over which the Group has significant influence 浙江安牛科技有限公司 受本集團重大影響的被投資公司 Beijing Juece Xincheng Technology Co., Ltd. Investee over which the Group has significant influence 北京決策信誠科技有限公司 受本集團重大影響的被投資公司 Hangzhou Sunyard Fantai Technology Co., Ltd. Investee over which the Group has significant influence 杭州信雅達泛泰科技有限公司 受本集團重大影響的被投資公司 Zhuhai Yunyoudao Technology Co., Ltd. Investee over which the Group has significant influence 珠����科技��責��司 受本集團重大影響的被投資公司 Zhejiang Zhongma Technology Co., Ltd. Investee over which the Group has significant influence 浙江眾馬科技有限公司 受本集團重大影響的被投資公司 Shark Kuaiyou Network Technology (Beijing) Co., Ltd. Investee over which the Group has significant influence 鯊魚快遊網絡技術(北京)有限公司 受本集團重大影響的被投資公司 Hangzhou Zaodao Technology Co., Ltd. Investee over which the Group has significant influence 杭州早稻科技有限公司 受本集團重大影響的被投資公司 Hangzhou Renjunxing Technology Co., Ltd. Investee over which the Group has significant influence 杭州任君行科技有限公司 受本集團重大影響的被投資公司 Hangzhou Yunpinlv Information Technology Co., Ltd. Investee over which the Group has significant influence 杭州芸品綠信息科技有限公司 受本集團重大影響的被投資公司 Beijing Xiaochenghuyu Culture Technology Co., Ltd. Investee over which the Group has significant influence 北京小誠互娛文化科技有限公司 受本集團重大影響的被投資公司 Linglan Network Technology (Shanghai) Co., Ltd. Investee over which the Group has significant influence 領藍網絡科技(上海)有限公司 受本集團重大影響的被投資公司 Shanghai Zhengcheng Information Technology Co., Ltd. Investee over which the Group has significant influence 上海崢呈信息科技有限公司 受本集團重大影響的被投資公司 Hangzhou Yingniu Investment Partnership (Limited Partnership) Investee of which the Group has joint control 杭州盈牛投資合夥企業(有限合夥) 受本集團共同控制的被投資公司 Hangzhou Yiqilaidian Investment Partnership (Limited Partnership) Investee of which the Group has joint control 杭州一起來電投資合夥企業(有限合夥) 受本集團共同控制的被投資公司

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

22 RELATED PARTY TRANSACTIONS (Cont'd) 22 關聯方交易(續)

Name of the major related parties Relationship with the Group 主要關聯方名稱 與本集團的關係

Hangzhou Fanniu Investment Management Partnership (Limited Partnership) 杭州泛牛投資管理合夥企業(有限合夥) 受本集團共同控制的被投資公司 Suzhou Jiamu Wuyao Venture Capital Investment Partnership (Limited Partnership) 蘇州嘉沐吾幺創業投資合夥企業(有限合夥) 受本集團共同控制的被投資公司 Hangzhou Lvji Network Technology Co., Ltd. Controlled by key management 杭州旅記網絡技術有限公司 受主要管理人員控制 Pingxiang Chuangniu Asset Management Co., Ltd. Controlled by key management 萍鄉創牛資產管理有限公司 受主要管理人員控制 Pingxiang Shiniu Asset Management Partnership (Limited Partnership) 萍鄉世牛資產管理合夥企業(有限合夥) 受主要管理人員控制 Pingxiang Jiniu Asset Management Partnership (Limited Partnership) 萍鄉紀牛資產管理合夥企業(有限合夥) 受主要管理人員控制 51 Xinhu L.P. Controlled by key management

• (i) On 19 February 2021, the Board announced that Zheng Haiguo had been appointed as an executive Director and the Chief Executive Officer. Since then, Sun Haitao ceased to be the Chief Executive Officer, but he remains as the chairman of the Board and an executive Director.
• (ii) Yu Jin has been appointed as a non-executive Director on 19 February 2021.

The following transactions were carried out between the Group and its related parties during the six months ended 30 June 2021. In the opinion of the Directors, the related party transactions were carried out in the ordinary course of business and at terms negotiated between the Group and the respective related parties.

Save as disclosed in elsewhere of these financial statements, the Group entered into the following related party transactions during the reporting period:

Investee of which the Group has joint control

Investee of which the Group has joint control

Controlled by key management

Controlled by key management

受主要管理人員控制 Rising Sun Limited Controlled by key management 受主要管理人員控制

• (i) 於2021年2月19日,董事會宣佈鄭海國已獲委任 為執行董事兼行政總裁。此後,孫海濤不再為行 政總裁,但仍繼續留任為董事會主席及執行董 事。
• (ii) 于進已於2021年2月19日獲委任為非執行董事。

下列交易乃由本集團與其關聯方於截至2021年 6月30日止六個月進行。根據董事意見,關聯方 交易乃於一般業務過程中按本集團與各關聯方 協商的條款進行。

除本財務報表其他部分所披露者外,本集團於 報告期間訂立下列關聯方交易:

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

22 RELATED PARTY TRANSACTIONS (Cont'd)

22 關聯方交易(續)

• (a) Loan referral service income, credit card technology service income and other income recognized in revenue (before net of sales tax and related surcharges)
• (a) 於收益確認的信貸介紹服務收入、信用卡 科技服務收入及其他收入(扣除銷售稅項 及相關附加稅前)

		Six months ended 30 June
		截至6月30日止六個月
		2021	2020
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Unaudited)
		(未經審核)	(未經審核)
Investees over which the Group has	受本集團重大影響的被投資公司
significant influence		90	1,734

(b) Sales and marketing expenses

(b) 銷售及營銷開支

		Six months ended 30 June
		截至6月30日止六個月
		2021	2020
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Unaudited)
		(未經審核)	(未經審核)
Investees over which the Group has	受本集團重大影響的被投資公司
significant influence		1,708	1,357

(c) Borrowings guaranteed by related party

(c) 關聯方擔保的貸款

		As at	As at
		30 June	31 December
		2021	2020
		於2021年	於2020年
		6月30日	12月31日
		RMB'000	RMB'000
		人民幣千元	人民幣千元
		(Unaudited)	(Audited)
		(未經審核)	(經審核)
The Chairman of the Board	董事會主席	80,811	84,046

For the six months ended 30 June 2021 截 至2021年6月30日止六個月

RELATED PARTY TRANSACTIONS (Cont'd) (d) Balances with related parties	關聯方交易(續) 22 (d) 與關聯方的結餘
		As at	As at
	30 June		31 December
		2021	2020
	於2021年		於2020年
	6月30日		12月31日
	RMB'000		RMB'000
	人民幣千元		人民幣千元
	(Unaudited)		(Audited)
	(未經審核)		(經審核)
Trade receivables	貿易應收款項
Investees over which the Group has	受本集團重大影響的被投資公司

significant influence		2,478	2,612
Prepayments, deposits and other receivables	預付款項、按金及其他應收款項
Directors	董事	–	1
Controlled by key management	受主要管理人員控制	100	100
Investees over which the Group has	受本集團重大影響的被投資公司
significant influence		4,278	3,202
		4,378	3,303
Trade and other payables	貿易及其他應付款項
Investees over which the Group has	受本集團重大影響的被投資公司
significant influence		1,963	218
		1,963	218

23 DIVIDENDS

No dividend has been paid or declared by the Company during the six months ended 30 June 2021 (six months ended 30 June 2020: nil).

23 股息

於截至2021年6月30日止六個月,本公司並未派 付或宣派股息(截至2020年6月30日止六個月: 無)。

INTERESTS AND SHORT POSITIONS OF DIRECTORS AND CHIEF EXECUTIVES OF THE COMPANY IN THE SHARES, UNDERLYING SHARES AND DEBENTURES OF THE COMPANY OR ANY ASSOCIATED CORPORATION

As at 30 June 2021, the interests or short positions of the directors (the "Directors") and chief executives of the Company in the shares, underlying shares or debentures of the Company or any of its associated corporation (within the meaning of Part XV of the Securities and Futures Ordinance (the "SFO") (Cap. 571 of the Laws of HK)), which were required to be notified to the Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO (including interests or short positions which were taken or deemed to have under such provisions of the SFO), or pursuant to section 352 of the SFO, to be recorded in the register of the Company referred to therein, or as otherwise notified to the Company and the Stock Exchange pursuant to the Model Code for Securities Transactions by Directors of Listed Issuers (the "Model Code") as set out in Appendix 10 to the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules") were as follows:

本公司董事及最高行政人員於本公司或任何 相聯法團的股份、相關股份及債券中擁有的 權益及淡倉

於2021年6月30日,本公司董事(「董事」)及最高行政 人員於本公司或其任何相聯法團(定義見證券及期貨 條例(「證券及期貨條例」)(香港法例第571章)第XV 部)之股份、相關股份及債券中擁有根據證券及期貨 條例第XV部第7及第8分部須知會本公司及聯交所之 權益或淡倉(包括根據證券及期貨條例之該等條文被 視作或視為擁有之權益或淡倉),或根據證券及期貨 條例第352條須記錄於該條例所指之本公司登記冊之 權益或淡倉,或根據聯交所證券上市規則(「上市規 則」)附錄十所載《上市發行人董事進行證券交易的標 準守則 》(「標準守則」)須知會本公司及聯交所之權 益或淡倉如下:

Long Position in the Shares

於股份之好倉

Name of Directors	Capacity and nature of interests	Number of Shares	Approximate percentage of issued Shares(1) 佔已發行股份
董事姓名	身份及權益性質	股份數目	之概約百分比(1)
Mr. Sun Haitao ("Mr. Sun") 孫海濤先生(「孫先生」)	Founder of a discretionary trust who can influence how the trustee exercises his discretion 可影響受託人如何行使其酌情權的酌情信託成立人	114,117,732 (2)	8.40%
	Other 其他	50,355,000 (3)	3.71%
	Other 其他	232,078,004 (4)	17.09%
		396,550,736	29.19%
Mr. Zhao Ke 趙軻先生	Beneficial owner 實益擁有人	3,100,000	0.23%
Ms. Zou Yunli 鄒雲麗女士	Interest of spouse 配偶權益	200,000 (5)	0.01%

Notes:

• (1) The calculations are based on the number of Shares as a percentage of the total number of issued Shares (i.e. 1,358,320,188 Shares) as at 30 June 2021.
• (2) Rising Sun Limited, which is the beneficial owner of the 114,117,732 Shares, is wholly owned by Wukong Ltd. Wukong Ltd. is beneficially wholly owned by Wukong Trust, which was established by Mr. Sun as the settlor. TMF (Cayman) Ltd. is the trustee of Wukong Trust. Mr. Sun, as the beneficiary of Wukong Trust, is deemed to be interested in those Shares.
• (3) Rising Sun Limited entered into a limited partnership agreement (the "Limited Partnership Agreement") with Tai Yong Holdings Ltd for the purpose of establishing 51 Xinhu L.P., a Cayman Islands exempted limited partnership and regulating the activities and operation of the partnership. Pursuant to the Limited Partnership Agreement, Rising Sun Limited serves as the general partner and Tai Yong Holdings Ltd serves as the limited partner. In addition, Rising Sun Limited has the power to exercise all voting rights on behalf of 51 Xinhu L.P. As 51 Xinhu L.P. is the beneficial owner of the 50,355,000 Shares, and by virtue of the SFO, Mr. Sun is deemed to be interested in the 50,355,000 Shares and the share capital of its associated corporation in which Rising Sun Limited is or is deemed to be interested.
• (4) The Company entered into a voting proxy agreement (the "Voting Proxy Agreement") with Rising Sun Limited, 51 Stock Limited, 51 Award Limited and Tiantu Investments Limited ("Tiantu Investments") (other than the Company, each, a "Party to the Voting Proxy Agreement", and collectively, the "Parties to the Voting Proxy Agreement"). Pursuant to the Voting Proxy Agreement, Rising Sun Limited is entitled to exercise, in its sole discretion, all the voting powers associated with the 232,078,004 Shares on behalf of the Parties to the Voting Proxy Agreement on all matters submitted to a vote of Shareholders at any meeting of Shareholders. By virtue of the SFO, Mr. Sun is deemed to be interested in the 232,078,004 Shares and the share capital of its associated corporation in which Rising Sun Limited is or is deemed to be interested.
• (5) Mr. Li Anxin, the spouse of Ms. Zou Yunli, is the beneficial owner of the 200,000 Shares. By virtue of the SFO, Ms. Zou Yunli is deemed to be interested in the Shares held by her spouse.

附註:

• (1) 按股份數目於2021年6月30日佔已發行股份總數(即 1,358,320,188股股份)的百分比計算。
• (2) 持有114,117,732股股份之實益擁有人Rising Sun Limited 由Wukong Ltd.全資擁有。Wukong Ltd.由Wukong Trust (由 孫 先 生 作 為 財 產 授 予 人 設 立)實 益 全 資 擁 有。 TMF (Cayman) Ltd.為Wukong Trust的受託人。孫先生作為 Wukong Trust的受益人被視為於該等股份中擁有權益。
• (3) Rising Sun Limited與Tai Yong Holdings Ltd訂立有限合夥協 議(「有限合夥協議」)以成立一間於開曼群島的獲豁免 有限合夥企業51 Xinhu L.P.,及規管該合夥企業的活動 及營運。根據有限合夥協議,Rising Sun Limited為普通合 夥人,而Tai Yong Holdings Ltd為有限合夥人;此外,Rising Sun Limited有權代表51 Xinhu L.P. 行使所有投票權。由於 51 Xinhu L.P.為50,355,000股股份的實益擁有人,及根據 證券及期貨條例的規定,孫先生因Rising Sun Limited持 有或被視為擁有的權益中被視為於50,355,000股股份及 其相聯法團股本權益中擁有權益。
• (4) 本公司與Rising Sun Limited、51 Stock Limited、51 Award Limited及Tiantu Investments Limited(「Tiantu Investments」) (除本公司外,各為「投票委託協議訂約方」,及統稱 「投票委託協議各訂約方」)訂立投票委託協議(「投票 委託協議」)。根據投票委託協議,Rising Sun Limited將有 權代表投票委託協議各訂約方就於任何股東大會上提 呈予股東投票的所有事宜全權酌情行使與232,078,004 股股份相關的所有投票權。根據證券及期貨條例的規 定,孫先生因Rising Sun Limited持有或被視為擁有的權 益中被視為於232,078,004股股份及其相聯法團股本權 益中擁有權益。
• (5) 李安新先生為鄒雲麗女士的配偶,其為200,000股股份 的實益擁有人。根據證券及期貨條例規定,鄒雲麗女士 被視為於其配偶持有的股份中擁有權益。

Long Position in shares of Associated Corporation

於相聯法團股份之好倉

		Name of associated	Capacity and nature			Approximate percentage of
	Name of Director	corporation	of interest		Number of shares	issued shares(1)
	董事姓名	相聯法團名稱	身份及權益性質		股份數目	佔已發行股份 之概約百分比(1)
Mr. Sun 孫先生		China Netcom Technology Holdings Limited ("China Netcom")(2) 中彩網通控股有限公司 (「中彩網通」)(2)	Interest in controlled corporation 於受控制法團之權益		1,834,963,213(3)	39.16%
Notes:				附註:
(1)	The calculation is based on the number of shares as a percentage of the total number of issued shares of China Netcom (i.e. 4,686,048,381) as at 30 June 2021.		(1)	按股份數目佔於2021年6月30日中彩網通已發行股份總 數(即4,686,048,381股股份)的百分比計算。
(2)	8071).	The shares of China Netcom are listed on GEM of the Stock Exchange (stock code:		(2)	中彩網通的股份於聯交所GEM上市(股份代號:8071)。
(3)		These shares are directly held by 51RENPIN.COM INC. 51RENPIN.COM INC. is wholly owned by Shanghai Wuniu Network Technology Co., Ltd.*(上海悟牛 網絡科技有限公司), which is in turn wholly owned by Enniu Network. Mr. Sun		(3)	該等股份由51RENPIN.COM INC.直接持有。51RENPIN. COM INC.由上海悟牛網絡科技有限公司全資擁有,而 該公司則由恩牛網絡全資擁有。孫先生於恩牛網絡約

is indirectly interested in approximately 26.94% of the equity interest in Enniu Network. Further, contractual arrangements are entered into between Hangzhou Zhenniu Information Technology Co., Ltd.*(杭州振牛信息科技有限公司) ("Hangzhou Zhenniu") (a company wholly owned by 51 Credit Card (China) Limited, which is in turn wholly owned by the Company and ultimately controlled by Mr. Sun) and Enniu Network so that Hangzhou Zhenniu can control Enniu Network. By virtue of the SFO, Mr. Sun is deemed to be interested in those shares held by 51RENPIN.COM INC.

Save as disclosed above, as at 30 June 2021, no other Director or chief executive of the Company had or was deemed to have any interest or short position in any shares, underlying shares and debentures of the Company or any of its associated corporation (within the meaning of Part XV of the SFO) which were required to be notified to the Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO (including interests or short positions which were taken or deemed to have under such provisions of the SFO), as recorded in the register required to be kept under section 352 of the SFO, or as otherwise notified to the Company and the Stock Exchange pursuant to the Model Code.

26.94%股權中擁有間接權益。此外,杭州振牛信息科技 有限公司(「杭州振牛」)(由51信用卡(中國)有限公司 全資擁有,而該公司由本公司全資擁有及由孫先生最 終控制)與恩牛網絡已訂立合約安排,故杭州振牛能控 制恩牛網絡。根據證券及期貨條例,孫先生被視為擁有 51RENPIN.COM INC.所持有該等股份權益。

除上文所披露者外,於2021年6月30日,概無其他董 事或本公司最高行政人員於本公司或其任何相聯法 團(定義見證券及期貨條例第XV部)之任何股份、相 關股份及債券中擁有根據證券及期貨條例第XV部第 7及第8分部須知會本公司及聯交所之權益或淡倉(包 括根據證券及期貨條例之該等條文被視作或視為擁 有的權益或淡倉),或根據證券及期貨條例第352條 須記錄於所存置之登記冊之任何權益或淡倉,或根 據標準守則須知會本公司及聯交所之任何權益或淡 倉。

INTERESTS AND SHORT POSITIONS OF SUBSTANTIAL SHAREHOLDERS IN THE SHARES, UNDERLYING SHARES AND DEBENTURES OF THE COMPANY

As at 30 June 2021, so far as was known to the Directors, the persons or entities, other than the Directors or chief executives of the Company, who had or was deemed to have an interest or a short position in the Shares, underlying Shares and debentures of the Company which were recorded in the register required to be kept by the Company under section 336 of the SFO, or which would fall to be disclosed to the Company under the provisions of Divisions 2 and 3 of Part XV of the SFO were as follows:

主要股東於本公司的股份、相關股份及債券 中擁有的權益及淡倉

於2021年6月30日,就董事所知,以下人士或實體(董 事或本公司最高行政人員除外)於本公司股份、相關 股份及債券中擁有或被視為擁有根據證券及期貨條 例第336條規定須記錄於本公司須存置之登記冊之權 益或淡倉,或根據證券及期貨條例第XV部第2及第3 分部之規定須向本公司披露之權益或淡倉:

Number of

Names	Capacity and nature of interests	Shares directly or indirectly held and category(9) 直接或間接	Approximate percentage of issued Shares(1)
名稱	身份及權益性質	持有的股份 數目及類別(9)	佔已發行股份 之概約百分比(1)
Mr. Huang Wei(2) 黃偉先生(2)	Interest in controlled corporation 於受控制法團之權益	327,352,666 (L)	24.10%
Ms. Li Ping(3) 李萍女士(3)	Interest of spouse 配偶權益	327,352,666 (L)	24.10%
Zhejiang Xinhu Group Co., Ltd.* ("Zhejiang Xinhu")(4) 浙江新湖集團股份有限公司(「浙江新湖」)(4)	Interest in controlled corporation 於受控制法團之權益	327,352,666 (L)	24.10%
Xinhu Zhongbao Co., Ltd.* ("Xinhu Zhongbao")(4) 新湖中寶股份有限公司(「新湖中寶」)(4)	Interest in controlled corporation 於受控制法團之權益	327,352,666 (L)	24.10%
Hong Kong Xinhu Investment Co., Limited ("HK Xinhu")(4) 香港新湖投資有限公司(「香港新湖」)(4)	Interest in controlled corporation 於受控制法團之權益	327,352,666 (L)	24.10%
Taichang Investment Limited(4)	Beneficial owner 實益擁有人	109,217,000 (L)	8.04%
Tai Shun Holdings Ltd.(4)	Beneficial owner 實益擁有人	101,114,000 (L)	7.44%
EasternGate SPC(4)	Security interest 保證權益	210,331,000 (L)	15.48%

		Number of
		Shares directly or	Approximate
	Capacity and nature	indirectly held	percentage
Names	of interests	and category(9) 直接或間接	of issued Shares(1)
		持有的股份	佔已發行股份
名稱	身份及權益性質	數目及類別(9)	之概約百分比(1)
TMF (Cayman) Ltd.(5)	Trustee 受託人	396,550,736 (L)	29.19%
Wukong Ltd.(5)	Interest in controlled corporation 於受控制法團之權益	396,550,736 (L)	29.19%
Rising Sun Limited(5)	Beneficial owner 實益擁有人	114,117,732 (L)	8.40%
	Other 其他	50,355,000 (L)	3.71%
	Other 其他	232,078,004 (L)	17.09%
		396,550,736 (L)	29.19%
Mr. Wang Yonghua(6) 王永華先生(6)	Interest in controlled corporation 於受控制法團之權益	183,874,334 (L)	13.54%
Tian Tu Capital Co., Ltd.* ("Tian Tu Capital")(6) 深圳市天圖投資管理股份有限公司 (「天圖投資」)(6)	Interest in controlled corporation 於受控制法團之權益	183,874,334 (L)	13.54%
Tiantu Advisory Company Limited(6) 天圖諮詢有限公司(6)	Interest in controlled corporation 於受控制法團之權益	128,661,334 (L)	9.47%
Tiantu Investments(6)	Beneficial owner 實益擁有人	128,661,334 (L)	9.47%
Mr. Shen Guojun(7) 沈國軍先生(7)	Founder of a discretionary trust who can influence how the trustee exercises his discretion 可影響受託人如何行使其酌情權 的酌情信託成立人	188,716,623 (L)	13.89%
Cantrust (Far East) Limited(7)	Trustee 受託人	188,716,623 (L)	13.89%

		Number of
		Shares directly or	Approximate
	Capacity and nature	indirectly held	percentage
Names	of interests	and category(9)	of issued Shares(1)
		直接或間接
		持有的股份	佔已發行股份
名稱	身份及權益性質	數目及類別(9)	之概約百分比(1)
Weihan Evergreen Limited(7)	Interest of controlled corporation 於受控制法團之權益	188,716,623 (L)	13.89%
East Jump Management Limited ("East Jump")(7)	Beneficial owner 實益擁有人	188,716,623 (L)	13.89%
The Core Trust Company Limited(8) 匯聚信託有限公司(8)	Trustee 受託人	175,222,987 (L)	12.90%
TCT (BVI) Limited(8)	Other 其他	175,222,987 (L)	12.90%
51 Stock Limited(8)	Beneficial owner 實益擁有人	81,038,109 (L)	5.97%
51 Award Limited(8)	Beneficial owner 實益擁有人	94,184,878 (L)	6.93%

Notes:

附註:

• (1) The calculations are based on the number of Shares which each party is interested in (whether directly or indirectly interested or deemed to be interested) as a percentage of the total number of issued Shares (i.e. 1,358,320,188 Shares) as at 30 June 2021.
• (2) Mr. Huang Wei directly holds approximately 53.06% shareholding interest in Zhejiang Xinhu and directly and indirectly holds an aggregate of approximately 57.09% shareholding interest in Xinhu Zhongbao in total. By virtue of the SFO, Mr. Huang Wei is deemed to be interested in the Shares in which Zhejiang Xinhu or Xinhu Zhongbao is deemed to be interested. For details of the deemed interests of Zhejiang Xinhu or Xinhu Zhongbao, please refer to Note (4) below.

• (3) Ms. Li Ping is the spouse of Mr. Huang Wei. Ms. Li Ping is deemed to be interested in the deemed interests held by Mr. Huang Wei under the SFO.

• (1) 按各方持有權益(直接或間接擁有或被視為擁有的權 益)的股份數目佔於2021年6月30日已發行股份總數(即 1,358,320,188股股份)的百分比計算。

• (2) 黃偉先生直接持有浙江新湖約53.06%股權並直接及間 接持有新湖中寶共約57.09%股權。根據證券及期貨條 例,黃偉先生因浙江新湖或新湖中寶被視為擁有的權 益中被視為於股份中擁有權益。有關浙江新湖或新湖 中寶被視為擁有權益的詳情,請參閱下文附註(4)。

• (3) 李萍女士為黃偉先生的配偶。根據證券及期貨條例,李 萍女士被視為於黃偉先生被視為擁有的權益中擁有權 益。

• (4) 109,217,000 Shares and 101,114,000 Shares are directly held by Taichang Investment Limited and Tai Shun Holdings Ltd., respectively, and have been pledged in favour of EasternGate SPC; 50,355,000 Shares are directly held by 51 Xinhu L.P. (wholly owned by Tai Yong Holdings Ltd. and Tai Yong Holdings Ltd. is deemed to be interested in the Shares held by 51 Xinhu L.P.); and 66,666,666 Shares are directly held by Guanrui Investment Limited ("Guanrui Investment"). Each of Taichang Investment Limited, Tai Shun Holdings Ltd., Tai Yong Holdings Ltd. and Guanrui Investment (collectively, the "Xinhu Subsidiaries") is wholly owned by HK Xinhu, which is in turn wholly owned by Xinhu Zhongbao. Xinhu Zhongbao is deemed to be controlled by Zhejiang Xinhu under the SFO. Therefore, for the purpose of Part XV of the SFO, each of HK Xinhu, Xinhu Zhongbao, Zhejiang Xinhu and Mr. Huang Wei is deemed to be interested in the Shares or deemed interests held by the Xinhu Subsidiaries.

• (5) Same for the interests as disclosed in Notes (2) to (4) in the section headed "INTERESTS AND SHORT POSITIONS OF DIRECTORS AND CHIEF EXECUTIVES OF THE COMPANY IN THE SHARES, UNDERLYING SHARES AND DEBENTURES OF THE COMPANY OR ANY ASSOCIATED CORPORATION" of this report.
• (6) Such 183,874,334 Shares represent 128,661,334 Shares directly held by Tiantu Investments and 55,213,000 Shares directly held by Tiantu Xingbei Investments Limited Company ("Tiantu Xingbei"). Tiantu Investments is wholly owned by Tiantu Advisory Company Limited, which is in turn wholly owned by Tian Tu Capital. Tiantu Xingbei is indirectly owned by Tian Tu Capital. Mr. Wang Yonghua holds approximately 40.35% shareholding interest in Tian Tu Capital. Therefore, under the SFO, Tiantu Advisory Company Limited is deemed to be interested in the Shares held by Tiantu Investments, and each of Tian Tu Capital and Mr. Wang Yonghua is deemed to be interested in the Shares held by Tiantu Investments and Tiantu Xingbei.

• (7) 188,716,623 Shares are directly held by East Jump. East Jump is wholly owned by Weihan Evergreen Limited, which is beneficially wholly owned by Weihan Evergreen Trust. Weihan Evergreen Trust is a family trust established by Mr. Shen Guojun as the settlor, while the beneficiaries of Weihan Evergreen Trust are Mr. Shen Guojun and his family members. Cantrust (Far East) Limited is the trustee of Weihan Evergreen Trust. Hence, each of Weihan Evergreen Limited, Cantrust (Far East) Limited and Mr. Shen Guojun is deemed to be interested in the Shares held by East Jump for the purpose of Part XV of the SFO.

• (4) 109,217,000股股份及101,114,000股股份分別由Taichang Investment Limited及Tai Shun Holdings Ltd.直接持有,並 已質押給EasternGate SPC;50,355,000股股份由51 Xinhu L.P.(由Tai Yong Holdings Ltd.全資擁有及Tai Yong Holdings Ltd. 被視為於51 Xinhu L.P.持有的股份中擁有權益)直接 持有;及66,666,666股股份由Guanrui Investment Limited (「Guanrui Investment」)直接持有。Taichang Investment Limited, Tai Shun Holdings Ltd., Tai Yong Holdings Ltd.及 Guanrui Investment(統稱「新湖附屬公司」)各自由香港新 湖全資擁有,而香港新湖則由新湖中寶全資擁有。根據 證券及期貨條例,新湖中寶被視為受浙江新湖控制。因 此,就證券及期貨條例第XV部而言,香港新湖、新湖中 寶、浙江新湖及黃偉先生各自被視為於新湖附屬公司 持有的股份中或被視為擁有的權益中擁有權益。

• (5) 與本報告中「本公司董事及最高行政人員於本公司或 任何相聯法團的股份、相關股份及債券中擁有的權益 及淡倉」一節內的附註(2)至(4)所披露之權益相同。
• (6) 該等183,874,334股股份指由Tiantu Investments直接持有 的128,661,334股股份及Tiantu Xingbei Investments Limited Company(「Tiantu Xingbei」)直接持有的55,213,000股股 份。Tiantu Investments由天圖諮詢有限公司全資擁有, 而天圖諮詢有限公司則由天圖投資全資擁有。Tiantu Xingbei由天圖投資間接持有。王永華先生持有天圖投 資約40.35%股權。因此,根據證券及期貨條例,天圖諮 詢有限公司被視為於Tiantu Investments持有的股份中擁 有權益,及天圖投資及王永華先生各自被視為於Tiantu Investments及Tiantu Xingbei持有的股份中擁有權益。
• (7) 188,716,623股股份由East Jump直接持有。East Jump由 Weihan Evergreen Limited全資擁有,而Weihan Evergreen Limited由Weihan Evergreen Trust實益全資擁有。Weihan Evergreen Trust是由沈國軍先生作為財產授予人設立的 家族信託,而Weihan Evergreen Trust之受益人為沈國軍 先生及其家族成員。Cantrust (Far East) Limited為Weihan Evergreen Trust的受託人。因此,就證券及期貨條例第 XV部而言,Weihan Evergreen Limited、Cantrust (Far East) Limited及沈國軍先生各自被視為於East Jump持有的股 份中擁有權益。

(8) Both 51 Stock Limited and 51 Award Limited are wholly owned by TCT (BVI) Limited, which is in turn wholly owned by The Core Trust Company Limited. The Core Trust Company Limited is the trustee and each of 51 Stock Limited and 51 Award Limited is the nominee to administer the RSU Schemes (as defined below). Each of 51 Stock Limited and 51 Award Limited holds the Shares underlying the RSUs granted by the Company for the benefit of eligible participants pursuant to the RSU Schemes.

(9) (L) – Long position, (S) – Short position

Save as disclosed above, to the best knowledge of the Directors, as at 30 June 2021, there was no person (not being a Director or a chief executive of the Company) who had or was deemed to have an interest or short position in the Shares, underlying shares and debentures of the Company which were recorded in the register required to be kept by the Company under section 336 of the SFO, or which would fall to be disclosed to the Company under the provisions of Divisions 2 and 3 of Part XV of the SFO.

QUALIFICATION REQUIREMENTS FOR CONTRACTUAL ARRANGEMENTS

For the six months ended 30 June 2021, the board (the "Board") of Directors had reviewed the major issues arising from the implementation and performance of the contractual arrangements and had discussed the matters relating to compliance and regulatory enquiries from governmental authorities.

On 11 December 2001, the State Council of the PRC promulgated the Provisions on the Administration of Foreign-funded Telecommunications Enterprises*(《外商投資電信企業管理規定》)(the "FITE Regulations"), which were amended on 10 September 2008 and 6 February 2016, respectively. According to the FITE Regulations, foreign investors are not allowed to hold more than 50% of the equity interests in a company providing value-added telecom services ("VATS"), including ICP services. In addition, a foreign investor who invests in a VATS business in the PRC must possess the qualification requirements. The Ministry of Industry and Information Technology of the PRC issued the guidance memorandum (the "Memorandum") on the application requirement for establishing foreign-invested VATS enterprises in the PRC on 1 March 2017, and updated the same on 6 March 2019 and 1 August 2019, respectively, which took effect on the same day. According to the Memorandum, an applicant is required to provide, among other things, the foreign investor's proven track record of good performance of VATS business and satisfactory proof of prior experience in such business. For the six months ended 30 June 2021, no applicable PRC laws, regulations or rules have provided any clear guidance or interpretation on the proof of the qualification requirements.

Other Information 其他資料

• (8) 51 Stock Limited及51 Award Limited均由TCT (BVI) Limited 全資擁有,而TCT (BVI) Limited則由匯聚信託有限公司 全資擁有。匯聚信託有限公司為受託人,而51 Stock Limited及51 Award Limited則各自為管理受限制股份單 位計劃(定義見下文)的代名人。51 Stock Limited及51 Award Limited各自為合資格參與者的利益持有由本公 司根據受限制股份單位計劃授出的受限制股份單位涉 及的相關股份。
• (9) (L)-好倉,(S)-淡倉

除上文所披露者外,就董事所知,於2021年6月30日, 概無人士(董事或本公司最高行政人員除外)於本公 司股份、相關股份及債券中擁有或被視為擁有根據 證券及期貨條例第336條規定須記錄於入本公司須存 置之登記冊之權益或淡倉,或根據證券及期貨條例 第XV部第2及第3分部之規定須向本公司披露之權益 或淡倉。

合約安排的資質要求

截至2021年6月30日止六個月,董事會(「董事會」)已 審閱合約安排的實施及執行而產生的重大事宜,及 已討論與合規及政府機關監管問詢有關的事項。

於2001年12月11日,中國國務院頒佈《外商投資電信 企業管理規定》(「外資電信企業規定」),該規定分別 於2008年9月10日及2016年2月6日經修訂。根據外資 電信企業規定,外國投資者不得於提供增值電信服務 (「增值電信服務」)(包括ICP服務)的公司持有超過 50%的股權。此外,在中國投資增值電信服務業務的 外國投資者必須具備資質要求。中國工業和信息化 部於2017年3月1日就在中國成立外商投資增值電信 服務企業的申請規定公佈辦事指南(「該指南」),並 於2019年3月6日和2019年8月1日分別就該指南進行 更新(於同日實施)。根據該指南,申請人需提供(其 中包括)外商投資者具有經營增值電信服務業務的良 好業績的可信證明和具備從事運營該業務的經驗之 證明。截至2021年6月30日止六個月,概無適用的中 國法律、法規或規則就資質要求證明提供任何明確 的指引或詮譯。

For details of the measures taken by the Group to meet the qualification requirements, please refer to the section headed "Contractual Arrangements" in the prospectus (the "Prospectus") of the Company dated 29 June 2018.

RESTRICTED SHARE UNIT ("RSU") SCHEMES

Summary

The Company has adopted the 51 Stock Scheme and the 51 Award Scheme (collectively, the "Schemes") by a resolution of the Board on 20 November 2017. The Schemes are not subject to the provisions of Chapter 17 of the Listing Rules as the Schemes do not involve the grant of options by the Company to subscribe for new Shares.

Purpose

The purpose of the Schemes is to recognize and reward the participants (as detailed in the paragraph headed "Participants" below) of each of the Schemes for their contribution to the Group, to attract suitable personnel, and to provide incentives to them to remain with and further contribute to the Group.

Awards

Each of the awards of RSUs under the 51 Stock Scheme (together with the awards of RSUs under the 51 Award Scheme, referred to as the "Award(s)") gives a participant an option, and an Award of RSUs under the 51 Award Scheme gives a participant an entitlement, upon vesting of the Award(s) to obtain either Shares (in case of the 51 Stock Scheme only) or an equivalent value in cash with reference to the market value of the Shares on or about the date of vesting as determined by the 51 Stock RSU Administration Committee and the 51 Award RSU Administration Committee (each as the "RSU Committee") in their absolute discretion, less any tax, fees, levies, stamp duty and other applicable charges. An Award may include, if so specified by the RSU Committees in their entire discretion, cash and non-cash income, dividends or distributions and/or the sale proceeds of non-cash and non-scrip distributions in respect of those Shares from the date that the Award is granted to the date that it is vested.

有關本集團就符合資質要求所採取之措施的詳情, 請參閱本公司日期為2018年6月29日的招股章程(「招 股章程」)「合約安排」一節。

受限制股份單位計劃

概要

本公司已根據董事會於2017年11月20日的決議案採 納51股份計劃及51獎勵計劃(統稱「該等計劃」)。該等 計劃並不受限於上市規則第十七章的條文,因為� �計劃並不涉及由本公司授出可認購新股份的購股 權。

目的

該等計劃的目的為確認及獎勵該等計劃各自的參與 者(詳情見下段「參與者」部份)對本集團所作出的貢 獻、吸引合適人才以及提供鼓勵讓他們對本集團保 持及作出更多貢獻。

獎勵

51股份計劃下各受限制股份單位的獎勵(與51獎勵 計劃下受限制股份單位的獎勵,統稱「獎勵」)賦予參 與者一項選擇權,而51獎勵計劃下受限制股份單位 的獎勵則賦予參與者一項權益,令其在歸屬獎勵時 可獲取股份(只適用於51股份計劃)或參考股份於51 Stock RSU管理委員會及51 Award RSU管理委員會(各 自為「RSU委員會」)全權酌情釐定的歸屬日期或前後 市場價值的等值現金,扣除任何稅項、費用、徵費、 印花稅及其他適用收費。倘RSU委員會全權酌情指 明,則獎勵可包括自獎勵授出日期起至其歸屬日期 就該等股份的現金及非現金收入、股息或分派及╱ 或非現金及非實物分派的銷售所得款項。

Limit

Unless otherwise duly approved by the Shareholders, the total number of Shares underlying the 51 Stock Scheme shall not exceed 112,341,261 Shares and the total number of Shares underlying the 51 Award Scheme shall not exceed 102,060,261 Shares (excluding the Shares underlying RSUs that have lapsed or been cancelled in accordance with the Schemes).

Grants

As at 30 June 2021, 112,110,330 and 58,165,870 Shares underlying RSUs were granted to participants under the 51 Stock Scheme and the 51 Award Scheme, representing approximately 8.25% and 4.28% of the issued Shares, respectively. As at 30 June 2021, 6,189,199 and 43,894,391 Shares underlying RSUs remained outstanding under the 51 Stock Scheme and the 51 Award Scheme, respectively.

Participants

Participants of the 51 Stock Scheme include:

• (i) any member of senior management of the Group; or
• (ii) any person who, in the sole opinion of the RSU Committee, has contributed or will contribute to any member of the Group (including business partners of any member of the Group, such as suppliers, customers or any persons who provide technical support, consultancy, advisory or other services to any member of the Group), as may be specifically identified by the RSU Committee.

Participants of the 51 Award Scheme include:

• (i) any employee of the Group; or
• (ii) any person who, in the sole opinion of the RSU Committee, has contributed or will contribute to any member of the Group (including business partners of any member of the Group, such as suppliers, customers or any persons who provide technical support, consultancy, advisory or other services to any member of the Group), as may be specifically identified by the RSU Committee.

限制

除非股東另行妥為批准,51股份計劃項下股份總數 不得超過112,341,261股,而51獎勵計劃項下股份總 數不得超過102,060,261股(上述股數不包括根據該等 計劃已告失效或已被註銷的受限制股份單位相關股 份)。

授出情況

於2021年6月30日,112,110,330股及58,165,870股受限 制股份單位相關股份根據51股份計劃及51獎勵計劃 授出予各自的參與者,分別各佔已發行股份約8.25% 及4.28%。於2021年6月30日,51股份計劃及51獎勵計 劃項下分別6,189,199股及43,894,391股受限制股份單 位相關股份尚未授出。

參與者

51股份計劃的參與者包括:

• (i) 本集團的任何高級管理層成員;或
• (ii) 由RSU委員會全權酌情認為曾為或將為本集團 任何成員公司作出貢獻的任何人士(包括本集 團任何成員公司的業務夥伴,例如供應商、客 戶或向本集團任何成員公司提供技術支援、諮 詢、建議或其他服務的任何人士)(如RSU委員 會得以特定識別)。

51獎勵計劃的參與者包括:

• (i) 本集團的任何僱員;或
• (ii) 由RSU委員會全權酌情認為曾為或將為本集團 任何成員公司作出貢獻的任何人士(包括本集 團任何成員公司的業務夥伴,例如供應商、客 戶或向本集團任何成員公司提供技術支援、諮 詢、建議或其他服務的任何人士)(如RSU委員 會得以特定識別)。

Transferability

According to the terms of the Schemes (as amended from time to time), the participant may transfer the granted Award(s) upon the approval of the Board or an authorized body or person appointed by the Board in accordance with the terms of the Schemes. The transferee should be bound by the terms of the Schemes, notices of grant and other relevant applicable documents and agreements.

Term

Subject to any early termination as may be determined by the Board pursuant to the termination clauses of the Schemes, the Schemes are valid and effective for a period of ten years commencing on the date of adoption (i.e., 20 November 2017), after which no Awards will be granted, but the provisions of the Schemes shall in all other respects remain in full force and effect and the Awards granted during the terms of the Schemes may continue to be valid and exercisable in accordance with their terms of grant.

RSU Trustee

The Company has appointed The Core Trust Company Limited, a trustee service provider and an independent third party, to administer the granting and vesting of RSUs granted to the grantees pursuant to the Schemes.

Rights attached to the Awards

The RSUs under the 51 Stock Scheme do not carry any right to vote at general meetings of the Company. No grantee shall enjoy any of the rights of a Shareholder by virtue of the grant of an Award pursuant to the 51 Stock Scheme, unless and until such Shares underlying the Award are actually transferred to the grantee upon the vesting of the RSUs provided that the grantee, his/her wholly owned entity or any such trust arrangement as directed by him/her shall enter into an agreement in writing with Mr. Sun delegating the voting rights attached to such Shares by proxy to Mr. Sun or his delegated entity(ies). Unless otherwise specified by the RSU Committee in its entire discretion in the notice of grant, the grantees do not have any rights to any cash or non-cash income, dividends or distributions and/or the sale proceeds of noncash and non-scrip distributions from any Shares underlying an Award.

可轉讓性

根據該等計劃條款(經不時修改),經董事會或董事 會根據該等計劃條款之規定委託的獲授權機構或人 士的批准,參與者可轉讓其被授予的獎勵。受讓方應 受到該等計劃條款、授予通知及其他相關的適用文 件及協議之約束。

期限

受限於董事會根據該等計劃的終止條款可能決定提 早終止,該等計劃自採納日期(即2017年11月20日)起 生效,為期十年,而於期滿後將不會授出獎勵,但該 等計劃的條文在所有其他方面仍具有完整效力及作 用,而於該等計劃的期限內授出的獎勵可根據其授 出條款繼續有效及可行使。

受限制股份單位受託人

本公司已委任匯聚信託有限公司(一間信託服務供應 商及獨立第三方)以管理根據該等計劃授出及歸屬向 承授人授出的受限制股份單位。

獎勵附帶的權利

51股份計劃下受限制股份單位並無附帶任何可於本 公司股東大會上投票的權利。倘承授人、其全資擁有 的實體或其指示的任何該等信託安排須與孫先生訂 立書面協議,將透過委任代表於相關股份附帶的投 票權授權予孫先生或其獲授權實體,除非及直至該 等與獎勵相關的股份於受限制股份單位歸屬時實際 轉讓予承授人,否則並無承授人因根據51股份計劃 授出獎勵而享有股東的任何權利。另外,除非RSU委 員會於授出通知中全權酌情決定指明,否則承授人 並無任何權利享有來自與獎勵相關的任何股份的任 何現金或非現金收入、股息或分派及╱或非現金及 非實物分派的出售所得款項。

Similarly, the RSUs under the 51 Award Scheme do not carry any right to vote at general meetings of the Company. No grantee shall enjoy any of the rights of a Shareholder by virtue of the grant of an Award pursuant to the 51 Award Scheme. Unless otherwise specified by the RSU Committee in its entire discretion in the notice of grant, the grantees do not have any rights to any cash or non-cash income, dividends or distributions and/or the sale proceeds of noncash and non-scrip distributions from any Shares underlying an Award.

Rights attached to the Shares (in case of the 51 Stock Scheme only)

Any Shares to be transferred to a grantee or his/her wholly-owned entity upon the vesting of RSUs granted pursuant to the 51 Stock Scheme shall be subject to all the provisions of the Company's articles of association (the "Articles") and shall rank pari passu in all respects with the existing fully paid Shares in issue on the date of transfer, or, if that date falls on a day when the register of members of the Company is closed, the first day of the re-opening of the register of members, and accordingly shall entitle the holder of such Shares to participate in all dividends or other distributions paid or made on or after the date of transfer.

USE OF PROCEEDS FROM THE INITIAL PUBLIC OFFERING (THE "IPO")

The Shares were listed and commenced trading on the Main Board of the Stock Exchange on 13 July 2018. The gross proceeds and net proceeds raised by the Company from the IPO amounted to approximately HK\$1,009.0 million and approximately HK\$988.3 million, respectively, and an additional gross proceeds and net proceeds of approximately HK\$62.9 million and approximately HK\$61.3 million, respectively, were raised from the allotment and issue of the Shares as a result of the partial exercise of the over-allotment option.

In order to meet the current operation needs, increase the Group's competitiveness and provide more buffer to cope with the economic uncertainties in the future, on 31 August 2020, the Board resolved to change the use of approximately HK\$257.6 million (equivalent to approximately RMB228.7 million) out of the remaining unutilized net proceeds as at the date of the Announcement (as defined below), which were originally allocated for (i) user acquisition; (ii) enhancement of technology and risk management capabilities; and (iii) investment (the "Change"). The Board considered that the Change was in the best interests of the Group and the Shareholders as a whole. For details of the Change, please refer to the announcement (the "Announcement") of the Company dated 31 August 2020.

51獎勵計劃下受限制股份單位同樣並無附帶任何可 於本公司股東大會上投票的權利。並無承授人因根 據51獎勵計劃授出獎勵而享有股東的任何權利。另 外,除非RSU委員會於授出通知中全權酌情決定指 明,否則承授人並無任何權利享有來自與獎勵相關 的任何股份的任何現金或非現金收入、股息或分派 及╱或非現金及非實物分派的出售所得款項。

股份所附帶的權利(只適用於51股份計劃)

於根據51股份計劃授出的受限制股份單位獲歸屬 後,轉讓予承授人或其全資擁有實體的任何股份須 受本公司章程細則(「細則」)的所有條文所規限,及 在所有方面與於轉讓日期(或倘本公司於該日暫停辦 理股份過戶登記手續,則為再開始辦理股份過戶登 記手續的首日)的現有繳足已發行股份享有同等地 位,且有關股份的持有人就此應有權參與於轉讓日 期或該日之後派付或作出的所有股息或其他分派。

首次公開發售(「首次公開發售」)所得款項用 途

股份於2018年7月13日在聯交所主板上市及開始交 易。本公司自首次公開發售籌集所得款項總額及淨 額分別為約1,009.0百萬港元及約988.3百萬港元,並 自因部�行使超額配股權而配發及發行超額配發股 份收取額外所得款項總額及淨額分別為約62.9百萬 港元及約61.3百萬港元。

為滿足當前營運需求、增加本集團競爭性並為應對未 來經濟不確定性提供更多緩衝,於2020年8月31日,董 事會已議決變更於該公告(定義見下文)日期之剩餘 未動用所得款項淨額用途約257.6百萬港元(相當於約 人民幣228.7百萬元),其原定分配用作(i)獲取用戶;(ii) 技術及風險管理能力提升;及(iii)投資(「變更」)。董事 認為變更符合本集團及股東整體的最佳利益。有關變 更的詳情,請參閱本公司日期為2020年8月31日的公告 (「該公告」)。

As at 30 June 2021, the amount of the net proceeds which remained unutilized was approximately HK\$31.3 million (equivalent to approximately RMB27.8 million). The remaining unutilized net proceeds are expected to be utilized on or before 31 December 2021.

於2021年6月30日,尚未動用的所得款項淨額為約31.3 百萬港元(相當於約人民幣27.8百萬元)。剩餘尚未動 用的所得款項淨額預期將於2021年12月31日或之前使 用。

Set out below are details of the use of proceeds up to 30 June 2021:

下文載列直至2021年6月30日的所得款項用途詳情:

Planned use of net proceeds	Net proceeds from the IPO			Amount unutilized up to the date of the Announcement		Revised approximate proportion of Reallocation of net proceeds unutilized net proceeds		Amount utilized up to 30 June 2021		Unutilized net proceeds		Expected timeline for utilizing the remaining unutilized net proceeds (Note) 動用剩餘
所得款項淨額之計劃用途	HK\$ million (approximate) (約)	首次公開發售所得款項淨額 RMB' million 百萬港元 人民幣百萬元 (approximate) (約)	直至該公告日期之 未動用款項 HK\$ million (approximate) (約)	RMB' million 百萬港元 人民幣百萬元 (approximate) (約)	所得款項 淨額經修訂 概約佔比	重新分配之 未動用所得款項淨額 HK\$ million (approximate) (約)	RMB' million 百萬港元 人民幣百萬元 (approximate) (約)	直至2021年6月30日之 已動用款項 HK\$ million (approximate) (約)	RMB' million 百萬港元 人民幣百萬元 (approximate) (約)	未動用所得款項淨額 HK\$ million (approximate) (約)	RMB' million 百萬港元 人民幣百萬元 (approximate) (約)	未動用所得 款項淨額 之預期 時間表(附註)
User acquisition	419.8	359.7	54.6	48.1	38.8%	41.9	37.0	39.3	34.7	2.6	2.3	by 31 December 2021
獲取用戶 Enhancement of technology and risk management capabilities 技術及風險管理能力提升	314.9	269.8	33.6	28.9	39.2%	130.4	115.7	101.7	90.2	28.7	25.5	於2021年 12月31日前 by 31 December 2021 於2021年
Investment 投資	209.9	179.8	169.4	151.7	3.9%	–	–	–	–	–	–	12月31日前 –
Working capital and other general corporate purposes 營運資金及其他一般企業用途	105.0	89.9	–	–	18.1%	85.3	76.0	85.3	76.0	–	–	–
Total 合計	1,049.6	899.2	257.6	228.7	100.0%	257.6	228.7	226.3	200.9	31.3	27.8

Note: The expected timeline for utilizing the unutilized net proceeds is based on the best estimation of the future market conditions made by the Group as at the date of this report. It may be subject to change based on the current and future development of the market condition.

附註: 動用未動用所得款項淨額之預期時間表乃基於本集 團於本報告日期對未來市場狀況所作出之最佳估 計。該時間表或會因應現行及未來市場狀況之發展而 出現變化。

USE OF PROCEEDS FROM THE SUBSCRIPTIONS

On 13 July 2020, the Company entered into subscription agreements with each of Guanrui Investment, Tiantu Investments and East Jump, pursuant to which the above subscribers agreed to subscribe, and the Company agreed to allot and issue, an aggregate of 166,666,666 subscription shares at the subscription price of HK\$0.6 per subscription share. The gross proceeds and net proceeds raised from the above subscriptions amounted to approximately HK\$100.0 million and HK\$99.4 million, respectively.

As at 30 June 2021, the above proceeds were utilized in consistent with the usage as disclosed in the supplemental announcement and circular of the Company dated 16 July 2020 and 3 August 2020, respectively, in the manner set out below:

認購事項所得款項用途

於2020年7月13日,本公司與Guanrui Investment、 Tiantu Investments以及East Jump各自訂立認購協議, 據此,上述認購人同意認購及本公司同意配發及發 行合計166,666,666股認購股份,認購價為每股認購 股份0.6港元。上述認購事項所得款項總額及淨額分 別為約100.0百萬港元及99.4百萬港元。

於2021年6月30日,上述所得款項已按照本公司分別 日期為2020年7月16日的補充公告及2020年8月3日的 通函所列的用途,作以下使用:

Planned use of net proceeds 所得款項淨額之計劃用途	Proportion 佔比	Net proceeds from the subscriptions 認購事項所得款項淨額		Amount utilized up to 30 June 2021 直至2021年6月30日之 已動用款項		Unutilized net proceeds 未動用所得款項淨額		Expected timeline for utilizing the remaining unutilized net proceeds (Note) 動用剩餘未動用所得 款項淨額之預期時間表(附註)
		HK\$ million 百萬港元 (approximate) (約)	RMB' million 人民幣百萬元 (approximate) (約)	HK\$ million 百萬港元 (approximate) (約)	RMB' million 人民幣百萬元 (approximate) (約)	HK\$ million 百萬港元 (approximate) (約)	RMB' million 人民幣百萬元 (approximate) (約)
Salary and welfare 薪金及福利	50%	49.7	44.2	29.0	24.8	20.7	19.4	by 31 December 2021 於2021年12月31日前
Expansion of customer base 擴充客戶群	30%	29.9	26.5	22.8	20.3	7.1	6.2	by 31 December 2021 於2021年12月31日前
Enhancement of collection capabilities 提升催收能力	10%	9.9	8.8	9.9	8.8	–	–	–
Working capital and other general corporate purpose 營運資金及其他一般企業用途	10%	9.9	8.8	4.9	4.7	5.0	4.1	by 31 December 2021 於2021年12月31日前
Total 合計	100%	99.4	88.3	66.6	58.6	32.8	29.7

Note: The expected timeline for utilizing the unutilized net proceeds is based on the best estimation of the future market conditions made by the Group as at the date of this report. It may be subject to change based on the current and future development of the market conditions.

附註: 動用未動用所得款項淨額之預期時間表乃基於本集 團於本報告日期對未來市場狀況所作出之最佳估 計。該時間表或會因應現行及未來市場狀況之發展而 出現變化。

CORPORATE GOVERNANCE PRACTICES

The Board strives to attain and maintain high standards of corporate governance in order to safeguard the interests of the Shareholders and to enhance corporate value and accountability. In addition, the Group is also committed to continuously improving its corporate governance practices.

For the six months ended 30 June 2021, the Company had applied and complied with all the code provisions in the Corporate Governance Code (the "CG Code") contained in Appendix 14 to the Listing Rules, with exceptions set out as follows:

Code Provision A.2.1 (Separation of the Roles of Chairman and Chief Executive Officer)

Mr. Sun acted as the chairman of the Board, an executive Director and the chief executive officer of the Company (the "Chief Executive Officer") until 19 February 2021 and such practice deviated from code provision A.2.1 of the CG Code. The Board believed that this arrangement did not impair the balance of power and authority between the Board and the management of the Company, given that: (i) decisions made by the Board require approval by at least a majority of the Directors and since the Board comprised three independent non-executive Directors out of eight Directors, which was more than the Listing Rules requirement of one-third, and the Board believed that there was sufficient checks and balances among the Board; (ii) Mr. Sun and the other Directors were aware of and undertook to fulfill their fiduciary duties as Directors, which required, among other things, that he/she acted for the benefit and in the best interests of the Company and would make decisions for the Group accordingly; and (iii) the balance of power and authority was ensured by the operations of the Board which comprised experienced and high calibre individuals who met regularly to discuss issues relating to the operations of the Company. Moreover, the overall strategic and other key business, financial and operational policies of the Group were made collectively after thorough discussion at both the Board and senior management levels.

On 19 February 2021, Mr. Sun ceased to be the Chief Executive Officer, but he remains as the chairman of the Board and an executive Director. Mr. Zheng Haiguo was appointed as the Chief Executive Officer and an executive Director on the same day. The Board considers that the above arrangements will enable the Company to attract more professional talents and implement a delicate division of responsibilities and management, further laying a solid foundation of its business development in the long run. Following the completion of the above arrangements, the Company has complied with code provision A.2.1 of the CG Code.

企業管治常規

董事會致力達到及維持高標準的企業管治,以保護 股東的權益和提高企業價值和問責度。此外,本集團 亦承諾不斷改善其企業管治常規。

截至2021年6月30日止六個月,本公司已應用及遵守 上市規則附錄十四所載的企業管治守則(「企業管治 守則」)內所有守則條文,惟以下所述者除外:

守則條文第A.2.1條(區分主席及行政總裁的角色)

直至2021年2月19日,孫先生同時擔任董事會主席、 執行董事及本公司行政總裁(「行政總裁」),而此舉 偏離企業管治守則的守則條文第A.2.1條。董事會認 為此安排不會損害董事會與本公司管理層之間的權 力和職權的平衡,原因為:(i)董事會所作決定至少需 要大多數董事批准,且董事會中的八名董事有三名 獨立非執行董事,超過上市規則規定的三份之一,董 事會認為董事會內部有足夠的制衡作用;(ii)孫先生 及其他董事意識到並承諾履行董事的誠信責任,這 要求(其中包括)其為本公司利益及以本公司最佳利 益行事,並將相應為本集團作出決定;及(iii)權力和 職權的平衡乃以董事會運作加以保障,而董事會由 經驗豐富的優秀人員組成,該等成員定期開會討論 與本公司經營有關的事宜。此外,本集團整體戰略及 其他關鍵業務、財務及經營政策乃於董事會及高級 管理層全面討論後共同作出。

於2021年2月19日,孫先生辭任行政總裁一職,但仍 繼續留任為董事會主席兼執行董事。同日,鄭海國先 生獲委任為行政總裁兼執行董事。董事會認為,上述 安排可令本公司引入更多專業人才,並進行精細化 分工和管理,為長遠的業務發展奠下更穩固的基礎。 隨着上述安排完成後,本公司已遵守企業管治守則 的守則條文第A.2.1條。

董事會主席孫先生因有未能預計之商業事務未能 出席於2021年舉行之股東週年大會(「股東週年大

其他資料

Other Information

會」)。本公司首席財務官兼執行董事趙軻先生擔任 該股東週年大會主席,及行政總裁兼執行董事鄭海 國先生亦已出席該大會以回應股東之提問。

守則條文第E.1.2條(主席出席股東週年大會)

董事的證券交易

本公司已採納標準守則作為董事進行證券交易的行 為守則。本公司已向全體董事作出特定查詢,全體董 事確認彼等於截至2021年6月30日止六個月已遵守標 準守則。

審閱中期業績

本公司已按照上市規則第3.21條及企業管治守則成 立審核委員會(「審核委員會」)。審核委員會由三名 委員組成,包括汪棣先生(獨立非執行董事)為主席, 其他委員為鄒雲麗女士(非執行董事)及葉翔先生(獨 立非執行董事)。

審核委員會已審閱本集團截至2021年6月30日止六個 月的未經審核綜合中期業績、未經審核簡明綜合中 期財務資料及未經審核中期報告,且亦已審閱並確 認本集團採納的會計原則及慣例。

外聘核數師羅兵咸永道會計師事務所已按照國際審 計與鑒證準則理事會頒佈的國際審閱準則第2410號 「由實體的獨立核數師執行中期財務資料審閱」審 閱本集團截至2021年6月30日止六個月的未經審核簡 明綜合中期財務資料。

Code Provision E.1.2 (Chairman's Attendance at Annual General Meeting)

Mr. Sun, the chairman of the Board, was unable to attend the annual general meeting (the "AGM") held in 2021 due to unexpected business engagements. Mr. Zhao Ke, the chief financial officer of the Company and an executive Director, took the chair of that AGM and Mr. Zheng Haiguo, the Chief Executive Officer and an executive Director, was also present to answer questions from the Shareholders.

DIRECTORS' SECURITIES TRANSACTIONS

The Company has adopted the Model Code as its code of conduct regarding securities transactions by the Directors. The Company has made specific enquiries with all Directors and all Directors confirmed that they had complied with the Model Code for the six months ended 30 June 2021.

REVIEW OF THE INTERIM RESULTS

The Company has established the audit committee (the "Audit Committee") in compliance with Rule 3.21 of the Listing Rules and the CG Code. The Audit Committee consists of three members, of whom Mr. Wong Ti (independent nonexecutive Director) is the chairman, and other members are Ms. Zou Yunli (nonexecutive Director) and Mr. Ye Xiang (independent non-executive Director).

The Audit Committee has reviewed the unaudited interim results and interim report of the Group and the unaudited condensed consolidated interim financial information for the six months ended 30 June 2021. The Audit Committee has also reviewed and confirmed the accounting policies and practices adopted by the Company.

The unaudited condensed consolidated interim financial information of the Group for the six months ended 30 June 2021 has been reviewed by the Company's external auditor, PricewaterhouseCoopers, in accordance with the International Standard on Review Engagements 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the International Auditing and Assurance Standard Board.

COMPETING INTERESTS

For the six months ended 30 June 2021, none of the Directors or controlling Shareholders or any of their respective close associates (as defined in the Listing Rules) had any interests in any business or interest which caused or may have caused any significant competition with the business of the Group or any other conflict of interest with the Group.

PURCHASE, SALE OR REDEMPTION OF LISTED SECURITIES OF THE COMPANY

For the six months ended 30 June 2021, neither the Company nor any of its subsidiaries had purchased, sold or redeemed any of the listed securities of the Company.

By Order of the Board 51 Credit Card Inc. Sun Haitao Chairman and Executive Director

27 August 2021

競爭權益

截至2021年6月30日止六個月,概無董事或控股股東 或彼等各自的任何緊密聯繫人(定義見上市規則)在 與本集團業務導致或可能導致重大競爭之業務中擁 有任何業務或權益,或與本集團發生任何其他利益 衝突。

購買、出售或贖回本公司上市證券

截至2021年6月30日止六個月,本公司及其任何附屬公 司概無購買、出售或贖回本公司任何上市證券。

承董事會命 51信用卡有限公司 主席兼執行董事 孫海濤

2021年8月27日

* The English name(s) has/have been transliterated from its/their respective Chinese name(s) and is/are for identification purposes only.