Share Based Compensation (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] |
|
| Summary of Assumptions Used to Determine Fair value of Share Options |
Assumptions used in the Binomial option-pricing model are presented below:
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Year ended December 31, |
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|
2023 |
|
2024 |
|
2025 |
Risk free interest rate |
|
3.46%-3.83% |
|
4.23%-4.31% |
|
4.48%-4.65% |
Expected dividend yield |
|
0% |
|
0%-0.12% |
|
0.13%-0.23% |
Expected volatility |
|
60% |
|
60% |
|
60% |
Exercise multiples |
|
2.2-2.8 |
|
2.2-2.8 |
|
2.2-2.8 |
Contractual life |
|
10 years |
|
10 years |
|
10 years |
|
| Schedule of Share Options Outstanding |
Share options outstanding at the end of the year have the following expiry date and exercise prices:
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December 31, |
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December 31, |
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Expiry date |
|
Exercise price |
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|
2024 |
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|
2025 |
|
10 years commencing from the date of grant of options |
|
|
US$0.000076 |
|
|
|
188,180 |
|
|
|
- |
|
|
|
|
US$0.27 |
|
|
|
858,468 |
|
|
|
380,740 |
|
|
|
|
US$1.93 |
|
|
|
11,487,364 |
|
|
|
8,027,128 |
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|
|
US$2.24~US$2.32 |
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|
|
6,967,848 |
|
|
|
4,124,428 |
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US$3.32~US$3.82 |
|
|
|
1,871,798 |
|
|
|
909,652 |
|
|
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|
US$4.24 |
|
|
|
254,952 |
|
|
|
204,952 |
|
|
|
US$5.26~US$5.29 |
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|
|
4,601,652 |
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|
|
2,519,978 |
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|
|
|
US$5.53 |
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|
|
- |
|
|
|
2,424,808 |
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|
|
US$6.20~US$6.37 |
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|
3,227,830 |
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|
|
529,400 |
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US$7.05 ~ US$7.61 |
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|
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7,128,204 |
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|
1,997,160 |
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US$9.53 |
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|
|
169,080 |
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|
|
169,080 |
|
|
|
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US$10.65 |
|
|
|
- |
|
|
|
548,526 |
|
Total |
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|
|
|
|
36,755,376 |
|
|
|
21,835,852 |
|
Weighted average remaining contractual life of options outstanding at end of year: |
|
|
|
6.33 |
|
|
|
5.99 |
|
|
| 2014 Share Incentive Plan |
|
| Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] |
|
| Schedule of Number, Weighted Average Exercise Prices and Weighted Average Grant Date Fair Value of Share Options |
The option holders may elect at any time to exercise any part or all of the vested options before the expiry date.
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Number of |
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|
Weighted-
average
exercise price |
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|
Weighted-
average
grant date
fair value |
|
|
|
options |
|
|
(US$) |
|
|
(US$) |
|
Outstanding as at January 1, 2023 |
|
|
1,412,772 |
|
|
|
0.22 |
|
|
|
1.93 |
|
Exercised |
|
|
(479,788 |
) |
|
|
0.25 |
|
|
|
1.90 |
|
Forfeited |
|
|
(21,920 |
) |
|
|
0.27 |
|
|
|
1.93 |
|
Outstanding as at December 31, 2023 |
|
|
911,064 |
|
|
|
0.20 |
|
|
|
1.95 |
|
Vested and expected to vest as at December 31, 2023 |
|
|
911,064 |
|
|
|
0.20 |
|
|
|
1.95 |
|
Exercisable as at December 31, 2023 |
|
|
911,064 |
|
|
|
0.20 |
|
|
|
1.95 |
|
Non vested as at December 31, 2023 |
|
|
- |
|
|
|
- |
|
|
|
- |
|
Outstanding as at January 1, 2024 |
|
|
911,064 |
|
|
|
0.20 |
|
|
|
1.95 |
|
Exercised |
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|
(155,342 |
) |
|
|
0.24 |
|
|
|
1.91 |
|
Transferred to 2024 Share Incentive Plan |
|
|
(755,722 |
) |
|
|
0.19 |
|
|
|
1.96 |
|
Outstanding as at December 31, 2024 and 2025 |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
| 2017 Restricted Share Scheme and 2017 Option Plan |
|
| Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] |
|
| Schedule of Number, Weighted Average Exercise Prices and Weighted Average Grant Date Fair Value of Share Options |
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|
Number of
options |
|
|
Weighted-
average
exercise
price
(US$) |
|
|
Weighted-
average
grant
date fair
value
(US$) |
|
Outstanding as at January 1, 2023 |
|
|
48,104,542 |
|
|
|
3.65 |
|
|
|
1.89 |
|
Granted |
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|
1,958,914 |
|
|
|
3.81 |
|
|
|
2.18 |
|
Exercised |
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(3,851,238 |
) |
|
|
2.16 |
|
|
|
1.42 |
|
Forfeited |
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|
(2,398,792 |
) |
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|
4.49 |
|
|
|
2.15 |
|
Outstanding as at December 31, 2023 |
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|
43,813,426 |
|
|
|
3.74 |
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|
1.93 |
|
Vested and expected to vest as at December 31, 2023 |
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|
42,189,736 |
|
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|
3.77 |
|
|
|
1.94 |
|
Exercisable as at December 31, 2023 |
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|
21,062,538 |
|
|
|
4.65 |
|
|
|
2.42 |
|
Non vested as at December 31, 2023 |
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|
22,750,888 |
|
|
|
2.90 |
|
|
|
1.47 |
|
Outstanding as at January 1, 2024 |
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|
43,813,426 |
|
|
|
3.74 |
|
|
|
1.93 |
|
Granted |
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|
837,458 |
|
|
|
5.26 |
|
|
|
3.07 |
|
Exercised |
|
|
(5,265,754 |
) |
|
|
2.81 |
|
|
|
1.46 |
|
Forfeited |
|
|
(718,272 |
) |
|
|
2.53 |
|
|
|
1.33 |
|
Transferred to 2024 Share Incentive Plan |
|
|
(38,666,858 |
) |
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|
3.92 |
|
|
|
2.03 |
|
Outstanding as at December 31, 2024 and 2025 |
|
|
- |
|
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|
- |
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|
- |
|
|
| Schedule of Movements in Number of RSUs and Awarded Shares |
Movements in the number of RSUs for the years ended December 31, 2023, 2024 and 2025 are as follows:
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Number of awarded shares |
|
|
|
Year ended December 31, |
|
|
|
2023 |
|
|
2024 |
|
|
2025 |
|
Outstanding as at January 1 |
|
|
59,463,350 |
|
|
|
50,725,492 |
|
|
|
- |
|
Granted |
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|
20,502,878 |
|
|
|
2,479,451 |
|
|
|
- |
|
Vested |
|
|
(23,885,214 |
) |
|
|
(8,312,976 |
) |
|
|
- |
|
Forfeited |
|
|
(5,355,522 |
) |
|
|
(1,225,042 |
) |
|
|
- |
|
Transferred to 2024 Share Incentive Plan |
|
|
- |
|
|
|
(43,666,925 |
) |
|
|
- |
|
Outstanding as at December 31 |
|
|
50,725,492 |
|
|
|
- |
|
|
|
- |
|
Expected to vest as at December 31 |
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|
45,097,852 |
|
|
|
- |
|
|
|
- |
|
|
| 2024 Share Incentive Plan |
|
| Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] |
|
| Schedule of Number, Weighted Average Exercise Prices and Weighted Average Grant Date Fair Value of Share Options |
Movements in the number of share options for the years ended December 31, 2024 and 2025 are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
options |
|
|
Weighted-
average
exercise
price
(US$) |
|
|
Weighted-
average
grant
date fair
value
(US$) |
|
Outstanding as at January 1, 2024 |
|
|
- |
|
|
|
- |
|
|
|
- |
|
Transferred from other plans |
|
|
39,422,580 |
|
|
|
3.85 |
|
|
|
2.02 |
|
Granted |
|
|
483,372 |
|
|
|
7.50 |
|
|
|
4.08 |
|
Exercised |
|
|
(2,372,196 |
) |
|
|
3.14 |
|
|
|
1.75 |
|
Forfeited |
|
|
(778,380 |
) |
|
|
5.30 |
|
|
|
2.34 |
|
Outstanding as at December 31, 2024 |
|
|
36,755,376 |
|
|
|
3.92 |
|
|
|
2.06 |
|
Vested and expected to vest as at December 31, 2024 |
|
|
35,878,888 |
|
|
|
3.94 |
|
|
|
2.07 |
|
Exercisable as at December 31, 2024 |
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|
23,228,552 |
|
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|
4.44 |
|
|
|
2.33 |
|
Non vested as at December 31, 2024 |
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|
13,526,824 |
|
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|
3.02 |
|
|
|
1.61 |
|
Outstanding as at January 1, 2025 |
|
|
36,755,376 |
|
|
|
3.92 |
|
|
|
2.06 |
|
Granted |
|
|
3,230,414 |
|
|
|
6.55 |
|
|
|
3.82 |
|
Exercised |
|
|
(16,221,854 |
) |
|
|
4.65 |
|
|
|
2.29 |
|
Forfeited |
|
|
(1,928,084 |
) |
|
|
4.38 |
|
|
|
2.41 |
|
Outstanding as at December 31, 2025 |
|
|
21,835,852 |
|
|
|
3.72 |
|
|
|
2.12 |
|
Vested and expected to vest as at December 31, 2025 |
|
|
21,326,552 |
|
|
|
3.71 |
|
|
|
2.12 |
|
Exercisable as at December 31, 2025 |
|
|
13,714,136 |
|
|
|
3.50 |
|
|
|
2.01 |
|
Non vested as at December 31, 2025 |
|
|
8,121,716 |
|
|
|
4.09 |
|
|
|
2.31 |
|
|
| Schedule of Movements in Number of RSUs and Awarded Shares |
Movements in the number of RSUs for the years ended December 31, 2024 and 2025 are as follows:
|
|
|
|
|
|
|
|
|
|
|
Number of awarded shares |
|
|
Number of awarded shares |
|
|
|
Year Ended December 31, |
|
|
Year Ended December 31, |
|
|
|
2024 |
|
|
2025 |
|
Outstanding as at January 1 |
|
|
- |
|
|
|
38,249,608 |
|
Transferred from 2017 Restricted Share Scheme |
|
|
43,666,925 |
|
|
|
- |
|
Granted |
|
|
10,389,949 |
|
|
|
11,834,582 |
|
Vested |
|
|
(14,163,058 |
) |
|
|
(15,164,488 |
) |
Forfeited |
|
|
(1,644,208 |
) |
|
|
(2,370,976 |
) |
Outstanding as at December 31 |
|
|
38,249,608 |
|
|
|
32,548,726 |
|
Expected to vest as at December 31 |
|
|
34,023,770 |
|
|
|
28,962,286 |
|
|