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Share Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
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.

 

 

Number of

 

 

Weighted-
average
exercise
price

 

 

Weighted-
average
grant
date fair
value

 

 

options

 

 

(US$)

 

 

(US$)

 

Outstanding as at January 1, 2020

 

 

13,897,304

 

 

 

0.23

 

 

 

1.92

 

Exercised

 

 

(7,866,422

)

 

 

0.23

 

 

 

1.91

 

Forfeited

 

 

(46,982

)

 

 

0.27

 

 

 

1.91

 

Outstanding as at December 31, 2020

 

 

5,983,900

 

 

 

0.23

 

 

 

1.93

 

Vested and expected to vest as at December 31, 2020

 

 

5,983,900

 

 

 

0.23

 

 

 

1.93

 

Exercisable as at December 31, 2020

 

 

5,983,900

 

 

 

0.23

 

 

 

1.93

 

Non vested as at December 31, 2020

 

 

-

 

 

 

-

 

 

 

-

 

Outstanding as at January 1, 2021

 

 

5,983,900

 

 

 

0.23

 

 

 

1.93

 

Exercised

 

 

(2,992,122

)

 

 

0.24

 

 

 

1.92

 

Outstanding as at December 31, 2021

 

 

2,991,778

 

 

 

0.22

 

 

 

1.94

 

Vested and expected to vest as at December 31, 2021

 

 

2,991,778

 

 

 

0.22

 

 

 

1.94

 

Exercisable as at December 31, 2021

 

 

2,991,778

 

 

 

0.22

 

 

 

1.94

 

Non vested as at December 31, 2021

 

 

-

 

 

 

-

 

 

 

-

 

Outstanding as at January 1, 2022

 

 

2,991,778

 

 

 

0.22

 

 

 

1.94

 

Exercised

 

 

(1,579,006

)

 

 

0.23

 

 

 

1.94

 

Outstanding as at December 31, 2022

 

 

1,412,772

 

 

 

0.22

 

 

 

1.93

 

Vested and expected to vest as at December 31, 2022

 

 

1,412,772

 

 

 

0.22

 

 

 

1.93

 

Exercisable as at December 31, 2022

 

 

1,412,772

 

 

 

0.22

 

 

 

1.93

 

Non vested as at December 31, 2022

 

 

-

 

 

 

-

 

 

 

-

 

Schedule of Share Options Outstanding

Share options outstanding at the end of the year have the following expiry date and exercise prices:

 

Expiry date

 

Exercise price

 

 

December 31, 2021

 

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

10 years commencing from the date of grant of options

 

 

US$0.000076

 

 

 

485,544

 

 

 

256,210

 

 

 

 

US$0.27

 

 

 

2,506,234

 

 

 

1,156,562

 

Total

 

 

 

 

2,991,778

 

 

 

1,412,772

 

Weighted average remaining contractual life of options
   outstanding at end of year:

 

 

 

 

3.97

 

 

2.91

 

2017 Restricted Share Scheme and 2017 Option Plan  
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:

 

 

Year ended December 31,

 

2020

 

2021

 

2022

Risk free interest rate

 

0.71%-0.91%

 

1.22%-1.63%

 

2.15%-2.92%

Expected dividend yield

 

0%

 

0%

 

0%

Expected volatility

 

40%-42.5%

 

43.5%-50%

 

55%-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 Number, Weighted Average Exercise Prices and Weighted Average Grant Date Fair Value of Share Options

 

Number of
options

 

 

Weighted-
average
exercise
price
(US$)

 

 

Weighted-
average
grant
date fair
value
(US$)

 

Outstanding as at January 1, 2020

 

 

26,640,508

 

 

 

3.43

 

 

 

2.39

 

Granted

 

 

4,992,390

 

 

 

6.44

 

 

 

2.70

 

Exercised

 

 

(10,026,018

)

 

 

2.64

 

 

 

1.92

 

Forfeited

 

 

(455,694

)

 

 

6.27

 

 

 

3.01

 

Outstanding as at December 31, 2020

 

 

21,151,186

 

 

 

4.45

 

 

 

2.68

 

Vested and expected to vest as at December 31, 2020

 

 

20,097,190

 

 

 

4.44

 

 

 

2.68

 

Exercisable as at December 31, 2020

 

 

4,762,058

 

 

 

3.05

 

 

 

2.74

 

Non vested as at December 31, 2020

 

 

16,389,128

 

 

 

4.86

 

 

 

2.66

 

Outstanding as at January 1, 2021

 

 

21,151,186

 

 

 

4.45

 

 

 

2.68

 

Granted

 

 

8,543,982

 

 

 

5.54

 

 

 

2.81

 

Exercised

 

 

(4,360,740

)

 

 

1.92

 

 

 

2.26

 

Forfeited

 

 

(541,488

)

 

 

5.70

 

 

 

2.90

 

Outstanding as at December 31, 2021

 

 

24,792,940

 

 

 

5.24

 

 

 

2.79

 

Vested and expected to vest as at December 31, 2021

 

 

23,552,634

 

 

 

5.21

 

 

 

2.79

 

Exercisable as at December 31, 2021

 

 

9,580,612

 

 

 

4.00

 

 

 

2.64

 

Non vested as at December 31, 2021

 

 

15,212,328

 

 

 

6.03

 

 

 

2.88

 

Outstanding as at January 1, 2022

 

 

24,792,940

 

 

 

5.24

 

 

 

2.79

 

Granted

 

 

24,957,454

 

 

 

2.05

 

 

 

1.02

 

Exercised

 

 

(566,612

)

 

 

0.68

 

 

 

2.67

 

Forfeited

 

 

(1,079,240

)

 

 

4.78

 

 

 

2.25

 

Outstanding as at December 31, 2022

 

 

48,104,542

 

 

 

3.65

 

 

 

1.89

 

Vested and expected to vest as at December 31, 2022

 

 

45,601,007

 

 

 

3.68

 

 

 

1.91

 

Exercisable as at December 31, 2022

 

 

14,272,122

 

 

 

4.93

 

 

 

2.75

 

Non vested as at December 31, 2022

 

 

33,832,420

 

 

 

3.11

 

 

 

1.52

 

Schedule of Share Options Outstanding

Share options outstanding at the end of the year have the following expiry date and exercise prices:

 

Expiry date

 

Exercise price

 

December 31,

 

 

December 31,

 

 

 

 

 

 

2021

 

 

2022

 

10 years commencing from the date of grant of options

 

 

US$0.27

 

 

1,271,442

 

 

818,024

 

 

 

US$1.93

 

 

-

 

 

 

15,952,792

 

 

US$2.24~US$2.32

 

 

 

4,270,392

 

 

 

12,871,384

 

 

 

US$3.32

 

 

 

307,792

 

 

 

307,792

 

 

US$4.04 ~ US$4.24

 

 

 

579,952

 

 

 

579,952

 

 

 

US$5.29

 

 

 

6,327,742

 

 

 

5,803,160

 

 

US$6.20 ~ US$6.37

 

 

 

4,241,962

 

 

 

4,015,280

 

 

US$7.05 ~ US$7.61

 

 

 

7,624,578

 

 

 

7,587,078

 

 

 

US$9.53

 

 

 

169,080

 

 

 

169,080

 

 Total

 

 

24,792,940

 

 

48,104,542

 

Weighted average remaining contractual life of options outstanding at end of year:

 

 

 

7.84

 

 

 

8.12

 

 

Schedule of Movements in Number of RSUs and Awarded Shares

Movements in the number of RSUs for the years ended December 31, 2020, 2021 and 2022 are as follows:

 

Number of awarded shares

 

 

Year ended December 31,

 

 

2020

 

 

2021

 

 

2022

 

Outstanding as at January 1

 

 

26,659,516

 

 

 

41,011,362

 

 

 

43,728,098

 

Granted

 

 

24,156,236

 

 

 

19,136,384

 

 

 

35,601,446

 

Vested

 

 

(7,732,794

)

 

 

(13,096,270

)

 

 

(14,787,382

)

Forfeited

 

 

(2,071,596

)

 

 

(3,323,378

)

 

 

(5,078,812

)

Outstanding as at December 31

 

 

41,011,362

 

 

 

43,728,098

 

 

 

59,463,350

 

Expected to vest as at December 31

 

 

37,672,420

 

 

 

39,425,569

 

 

 

53,009,743