Z1P is in the industry of financial lending which mostly relies...

Z1P is in the industry of financial lending which mostly relies on its receivables. It is quite misleading to calculate the bad debts against revenue as Z1P allows a number of months for debt to be repaid. It is more accurate to calculate it just like Z1P does which is against its receivables. Also- if you look at Afterpay, its bad debts to revenue is almost the same- 30.2%.