v3.26.3
Share-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Compensation [Abstract]  
Schedule of Share Options Activity

The following table illustrates the summary of share options activity.

 

    Periods ended June 30, 2026  
   

Number of
options

(’000)

    Weighted
average
exercise
price
(US$)
   

Weighted average remaining contractual life

(years)

   

Aggregate
intrinsic
value

(US$’000)

 
As at January 1, 2026     14,305       5.57       7.37       86,748  
Granted     703       9.99                  
Exercised(1)     (616 )     4.06                  
Forfeited     (363 )     7.58                  
As at June 30, 2026     14,029       5.80       7.23       144,073  
Vested and exercisable at June 30, 2026     8,248       4.15                  

 

 

Periods ended June 30, 2025

 
   

Number of options

(’000)

    Weighted
average
exercise
price
(US$)
   

Weighted average remaining contractual life

(years)

   

Aggregate
intrinsic
value

(US$’000)

 
As at January 1, 2025     13,866       4.36       7.87       240,019  
Granted     915       14.93                  
Exercised(1)     (536 )     3.11                  
Forfeited     (79 )     5.27                  
As at June 30, 2025     14,166       5.09       7.58       95,000  
Vested and exercisable at June 30, 2025     7,139       3.74                  

 

(1) The total proceeds received from the exercised shares under the 2023 Plan during the six months ended June 30, 2026 and 2025 was approximately US$2.5 million and US$1.7 million, respectively.
Schedule of Restricted Share Units Activity

The following table illustrates a summary of restricted share units activity.

 

    Six months ended
June 30, 2026
 
    Number of
restricted
share units
(’000)
    Weighted-
Average
Grant Date
Fair Value
Per Share
(US$)
 
As at January 1, 2026     -       -  
Granted     255       10.29  
Vested     -       -  
Forfeited     -       -  
As at June 30, 2026     255       10.29  
Schedule of Expense Recognized for Share Awards

The expense recognized for share awards during the six months ended June 30, 2026 and 2025 was approximately US$13.5 million and US$20.6 million, respectively. The breakdown is as follows:

 

    Six months ended
June 30,
 
In thousands of USD   2026     2025  
Cost of revenue     1,154       1,335  
Selling expenses     236       596  
General and administrative expenses     4,162       5,956  
Research and development expenses     7,975       12,687  
Total     13,527       20,574  
Schedule of Fair Value of the Share Awards The following table provides the inputs range to the model used for determining the value of the grant for the six months ended June 30, 2026 and 2025:

 

    Periods ended
June 30,
 
In thousands of USD   2026     2025  
Dividend yield (%)     -       -  
Expected volatility (%)     118% - 119%       117% - 119%  
Risk-free interest rate (%)     4.19% - 4.33%       4.17% - 4.58%  
Exercise multiple     2.20       2.20 – 2.80