Share Based Compensation (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| 2017 Restricted Share Scheme and 2017 Option Plan |
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| Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] |
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| Summary of assumptions used to determine fair value of share options |
The weighted average price of the shares at the time these options were exercised was US$8.18 per share (equivalent to approximately RMB58.61) and US$5.91 per share (equivalent to approximately RMB40.12) during the six months ended June 30, 2025 and 2026, respectively. The fair value of share options was valued using the Binomial option-pricing model as at the respective grant dates. Assumptions used in the Binomial option-pricing model are presented below:
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Six months ended June 30, |
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Risk free interest rate |
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4.65 |
% |
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4.17 |
% |
Expected dividend yield |
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0.13 |
% |
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1.50 |
% |
Expected volatility |
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60 |
% |
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55 |
% |
Exercise multiples |
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2.2-2.8 |
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2.2-2.8 |
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Contractual life |
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10 years |
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10 years |
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| Schedule of number, weighted average exercise prices and weighted average grant date fair value of share options |
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Number of options |
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Weighted- average exercise price (US$) |
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Weighted- average grant date fair value (US$) |
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Outstanding as at January 1, 2025 |
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36,755,376 |
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3.92 |
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2.06 |
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Granted |
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2,583,444 |
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5.53 |
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3.21 |
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Exercised |
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(9,152,516 |
) |
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4.22 |
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2.13 |
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Forfeited |
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(1,254,192 |
) |
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8.39 |
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2.04 |
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Outstanding as at June 30, 2025 |
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28,932,112 |
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3.77 |
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2.14 |
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Vested and expected to vest as at June 30, 2025 |
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21,223,234 |
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3.76 |
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2.15 |
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Exercisable as at June 30, 2025 |
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16,727,874 |
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3.43 |
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2.22 |
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Non vested as at June 30, 2025 |
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4,756,408 |
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4.95 |
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2.02 |
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Outstanding as at January 1, 2026 |
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21,835,852 |
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3.72 |
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2.12 |
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Granted |
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58,722 |
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8.47 |
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4.07 |
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Exercised |
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(381,388 |
) |
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1.51 |
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1.81 |
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Forfeited |
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(28,904 |
) |
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7.43 |
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4.35 |
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Outstanding as at June 30, 2026 |
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21,484,282 |
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3.77 |
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2.13 |
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Vested and expected to vest as at June 30, 2026 |
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21,223,234 |
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3.76 |
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2.12 |
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Exercisable as at June 30, 2026 |
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16,727,874 |
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3.43 |
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1.93 |
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Non vested as at June 30, 2026 |
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4,756,408 |
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4.95 |
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2.84 |
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| Schedule of share options outstanding |
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Outstanding share options | Share options outstanding as at December 31, 2025 and June 30, 2026 have the following expiry date and exercise prices:
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10 years commencing from the date of grant of options |
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US$0.27 |
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380,740 |
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185,344 |
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US$1.93 |
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8,027,128 |
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7,901,208 |
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US$2.24 ~ US$2.32 |
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4,124,428 |
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4,115,062 |
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US$3.32 ~ US$3.82 |
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909,652 |
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909,652 |
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US$4.24 |
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204,952 |
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194,952 |
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US$5.26 ~ US$5.29 |
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2,519,978 |
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2,487,182 |
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US$5.53 |
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2,424,808 |
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2,415,976 |
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US$6.20 ~ US$6.37 |
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529,400 |
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529,400 |
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US$7.05 ~ US$7.61 |
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1,997,160 |
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1,969,178 |
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US$8.47 ~ US$9.53 |
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169,080 |
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227,802 |
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US$10.65 |
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548,526 |
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548,526 |
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Total |
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21,835,852 |
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21,484,282 |
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Weighted average remaining contractual life of options outstanding: |
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5.99 |
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5.53 |
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| 2024 Share Incentive Plan |
|
| Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items] |
|
| Schedule of movements in number of RSUs and awarded shares |
Movements in the number of RSUs for the six months ended June 30, 2025 and 2026 are as follows:
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Number of awarded shares Six months Ended June 30, |
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Outstanding as at January 1 |
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38,249,608 |
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32,548,726 |
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Granted |
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3,432,584 |
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11,957,716 |
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Vested |
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(3,030,558 |
) |
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(8,119,322 |
) |
Forfeited |
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(1,397,634 |
) |
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(690,248 |
) |
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Outstanding as at June 30 |
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37,254,000 |
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35,696,872 |
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Expected to vest as at June 30 |
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33,139,401 |
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32,612,967 |
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