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Share Based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
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, 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

 

 

-

 

 

 

-

 

 

 

-

 

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

 

 

-

 

 

 

-

 

 

 

-

 

Schedule of Share Options Outstanding

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

 

 

 

 

 

 

As at December 31,

 

Expiry date

 

Exercise price

 

 

2022

 

 

2023

 

10 years commencing from the date of grant of
options

 

 

US$0.000076

 

 

 

256,210

 

 

 

219,210

 

 

 

 

US$0.27

 

 

 

1,156,562

 

 

 

691,854

 

Total

 

 

 

 

1,412,772

 

 

 

911,064

 

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

 

 

 

 

2.91

 

 

 

1.88

 

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,

 

2021

 

2022

 

2023

Risk free interest rate

 

1.22%-1.63%

 

2.15%-2.92%

 

3.46%-3.83%

Expected dividend yield

 

0%

 

0%

 

0%

Expected volatility

 

43.5%-50%

 

55%-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 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, 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

 

Outstanding as at January 1, 2023

 

 

48,104,542

 

 

 

3.65

 

 

 

1.89

 

Granted

 

 

1,958,914

 

 

 

3.81

 

 

 

2.18

 

Exercised

 

 

(3,851,238

)

 

 

2.16

 

 

 

1.42

 

Forfeited

 

 

(2,398,792

)

 

 

4.49

 

 

 

2.15

 

Outstanding as at December 31, 2023

 

 

43,813,426

 

 

 

3.74

 

 

 

1.93

 

Vested and expected to vest as at December 31, 2023

 

 

42,189,736

 

 

 

3.77

 

 

 

1.94

 

Exercisable as at December 31, 2023

 

 

21,062,538

 

 

 

4.65

 

 

 

2.42

 

Non vested as at December 31, 2023

 

 

22,750,888

 

 

 

2.90

 

 

 

1.47

 

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,

 

 

 

 

 

 

2022

 

 

2023

 

10 years commencing from the date of grant of
options

 

 

US$0.27

 

 

818,024

 

 

539,620

 

 

 

US$1.93

 

 

 

15,952,792

 

 

 

14,213,356

 

 

US$2.24~US$2.32

 

 

 

12,871,384

 

 

 

10,527,104

 

 

 

US$3.32

 

 

 

307,792

 

 

 

2,011,512

 

 

US$4.04 ~ US$4.24

 

 

 

579,952

 

 

 

254,952

 

 

 

US$5.29

 

 

 

5,803,160

 

 

 

5,283,344

 

 

US$6.20 ~ US$6.37

 

 

 

4,015,280

 

 

 

3,767,380

 

 

US$7.05 ~ US$7.61

 

 

 

7,587,078

 

 

 

7,047,078

 

 

 

US$9.53

 

 

 

169,080

 

 

 

169,080

 

 Total

 

 

48,104,542

 

 

43,813,426

 

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

 

 

 

8.12

 

 

 

7.22

 

Schedule of Movements in Number of RSUs and Awarded Shares

Movements in the number of RSUs for the years ended December 31, 2021, 2022 and 2023 are as follows:

 

 

Number of awarded shares

 

 

Year ended December 31,

 

 

2021

 

 

2022

 

 

2023

 

Outstanding as at January 1

 

 

41,011,362

 

 

 

43,728,098

 

 

 

59,463,350

 

Granted

 

 

19,136,384

 

 

 

35,601,446

 

 

 

20,502,878

 

Vested

 

 

(13,096,270

)

 

 

(14,787,382

)

 

 

(23,885,214

)

Forfeited

 

 

(3,323,378

)

 

 

(5,078,812

)

 

 

(5,355,522

)

Outstanding as at December 31

 

 

43,728,098

 

 

 

59,463,350

 

 

 

50,725,492

 

Expected to vest as at December 31

 

 

39,425,569

 

 

 

53,009,743

 

 

 

45,097,852