7.
EMPLOYEE BENEFITS EXPENSES
All
eligible employees of the Group are entitled to MPF. The Group is required to make contributions to the fund and accrues these benefits
based on certain percentages of the qualified employees’ salaries and compensation:
| | |
For
the fiscal year ended
March 31, | |
| | |
2026 | | |
2025 | | |
2024 | |
| | |
US$’000 | | |
US$’000 | | |
US$’000 | |
| Salaries, bonus and allowance | |
| 24,394 | | |
| 37,067 | | |
| 29,718 | |
| Retirement benefits scheme contributions | |
| 577 | | |
| 702 | | |
| 666 | |
| Share based compensation
expenses (Note (a)) | |
| 1,487 | | |
| - | | |
| - | |
| | |
| 26,458 | | |
| 37,769 | | |
| 30,384 | |
| (a) | During the year ended March 31, 2026, the Company granted an aggregate of 3,000,000 share options (the “Incentive Share Options”) to certain employees under its 2025 Equity Incentive Plan for 3-year services. The awards were granted to attract and retain key personnel, provide additional incentives, and align employees’ interests with those of the Company’s shareholders. Each Incentive Share Option entitles the holder to subscribe for one ordinary share of the Company at an exercise price of US$0 per share. The options vest ratably over the three-year requisite service period, and share-based compensation cost is amortized on a straight-line basis over that same period. For the year ended March 31, 2026, the Company recognized share-based compensation expense of $1,487,000 related to these options.
|
The
grant-date fair value of the Incentive Share Options was US$1.64 per share at the grant date and was determined using the binomial lattice
model. The Company recognizes the compensation expense over the requisite service period, which is generally the vesting period, on a
straight-line basis.
|