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SHARE-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2025
SHARE-BASED COMPENSATION  
Schedule of Share-based compensation recognized in operating expenses

  ​ ​ ​

Year ended December 31, 

  ​ ​ ​

2023

  ​ ​ ​

2024

  ​ ​ ​

2025

(HK$ in thousands)

Research and development expenses

201,033

 

230,830

 

226,490

General and administrative expenses

69,560

 

81,966

 

88,091

Selling and marketing expenses

20,238

 

22,130

 

28,443

Total share-based compensation expenses

290,831

 

334,926

 

343,024

Schedule of the stock option activity under the 2014 and 2019 Share Incentive Plan

  ​ ​ ​

Options granted

  ​ ​ ​

Weighted average

share number

exercise price per option (US$)

Outstanding at December 31, 2022

 

9,986,146

 

0.5556

Exercised

(2,560,304)

0.5574

Granted

 

128,000

 

0.6500

Forfeited

(294,480)

0.6368

Outstanding at December 31, 2023

 

7,259,362

 

0.5533

Exercised

(3,944,400)

0.5205

Forfeited

(656,080)

0.3667

Outstanding at December 31, 2024

 

2,658,882

 

0.6480

Exercised

(1,510,880)

0.6477

Outstanding at December 31, 2025

 

1,148,002

 

0.6483

Schedule of share options outstanding

As of December 31, 2025

Weighted-

average

Weighted-

remaining

average

exercise

Options

exercise price

 

contractual life

Aggregate

  ​ ​ ​

number

  ​ ​ ​

per option

  ​ ​ ​

(years)

  ​ ​ ​

intrinsic value

 

US$

 

 

US$ in thousand

Options

Outstanding

1,148,002

 

0.6483

 

2.92

 

22,820

Exercisable

1,116,002

 

0.6483

 

2.85

 

22,184

Expected to vest

32,000

 

0.6500

 

5.50

 

636

Schedule of fair value of options granted using the binomial option pricing model

  ​ ​ ​

2023

  ​ ​ ​

2024

  ​ ​ ​

2025

 

Risk-free interest rate

 

4.13

%

NA

NA

Expected term (in years)

 

4.00

NA

NA

Expected dividend yield

 

0

%

NA

NA

Expected volatility

 

40

%

NA

NA

Expected forfeiture rate (post-vesting)

 

15

%

NA

NA

Schedule of activities of the restricted share units granted to employees under the plan

Weighted -

average grant date

  ​ ​ ​

Shares awarded number

  ​ ​ ​

fair value per share(US$)

Outstanding at January 1, 2023

26,692,248

5.3631

Vested

(5,683,896)

5.0877

Granted

8,769,800

6.1047

Forfeited

(2,500,424)

5.2052

Outstanding at December 31, 2023

 

27,277,728

 

5.6734

Vested

(6,826,392)

6.1047

Granted

 

2,225,760

 

9.3712

Forfeited

(2,665,656)

5.2956

Outstanding at December 31, 2024

 

20,011,440

 

5.9879

Vested

(6,709,496)

9.3712

Granted

5,702,392

10.9081

Forfeited

(1,842,848)

6.2381

Outstanding at December 31, 2025

17,161,488

6.2732