Material equity-settled share-based payment expense
Hong Kong IPO disclosure precedents · 102 companies, 102 items
Disclosure of equity-settled share-based payment expenses granted to directors, management and key employees whose amounts are material to the results for the track record period.
Equity-settled share-based payments represent non-cash employee benefit expenses incurred in connection with our award to key personnel.
Financial Information · p. 213
We recorded adjusted net profit (non-IFRS measure) of US$59 thousand and US$2.4 million for the years ended December 31, 2023 and 2025, respectively, and adjusted net loss (non-IFRS measure) of US$0.1 million for the year ended December 31, 2024.
Equity-settled share-based payment is non-cash in nature arising from the grant of options to our Directors, senior management, employees and consultants and does not result in cash outflows.
Summary · p. 7
partially offset by an increase in general and administrative expenses of RMB11.1 million primarily as a result of increased employee compensation mainly attributable to share-based payment in relation to share options granted under our share option scheme.
Employee benefit expenses continue to be the largest component of the administrative and other expenses during the Track Record Period, representing salaries, bonuses and share-based payment expenses relating to the share options granted to administrative personnel, which fundamentally support our daily operations.
Business · p. 177
Accretion of redemption liabilities and equity-settled share-based payments expenses are non-cash in nature.
Share-based payments represented the non-cash expenses in relation to our share award to certain senior management members, employees and third-party consultant.
Summary · p. 9
We have incurred considerable general and administrative expenses during the Track Record Period, primarily attributable to (i) the share-based payments aimed at driving performance and aligning the interests of key personnel with the long-term growth of the business, (ii) the depreciation of charges of property, plant and equipment related our headquarters acquired in 2024 and (iii) the [REDACTED] expenses incurred in 2024 and 2025, all of which was necessary to support the continued growth of our business and enhance our satellite AIT capabilities.
Business · p. 164
In addition, a significant portion of our operating expenses was related to our employee benefit expenses and share-based payment expenses, which are less likely to increase proportionally along with our revenue growth as we scale up.
We define adjusted net (loss)/profit for the year (non-IFRS measure) as net profit or loss for the year adjusted by adding back share-based payment expenses and [REDACTED] expenses.
Share-based payments are non-cash in nature and mainly represent arrangements under which we receive services from employees in exchange for our equity instruments.
Share-based payments expenses are non-cash expenses arising from granting restricted share units to the Directors and our employees.
Summary · p. 6
Employees (including directors) of our Group receive remuneration in the form of share-based payments, whereby employees render services in exchange for equity instruments (“equity-settled transactions”).
Financial Information · p. 235
The cost of equity-settled transactions is recognised in employee benefit expense, together with a corresponding increase in equity, over the period in which the performance and/or service conditions are fulfilled.
We adjust share-based payment expenses because they are non-cash in nature.
Summary · p. 5
Administrative expenses as a percentage of revenue decreased from 10.5% in 2023 to 7.5% in 2024, and increased to 11.6% in 2025, primarily due to increase in equity-settled share-based payment expense.
Share-based payment is a non-cash expense arising from granting share-based awards to selected employees.
Summary · p. 13
We have engaged an independent valuer to determine the fair value of the options and awards granted to employees, which is expensed over the vesting periods.
Financial Information · p. 247
We also incurred administrative expenses of RMB85.5 million, RMB90.6 million, and RMB196.0 million in 2023, 2024 and 2025, respectively, primarily due to changes in staffing structure, share-based compensation and continued investment in management and compliance capabilities to support business expansion and listing preparation.
We define adjusted net profit (non-IFRS measure) as profit for the year excluding share-based payment expenses, [REDACTED] expenses and fair value change on other financial instruments.
Share-based payment expenses were non-cash in nature and represented the arrangement under which we receive services from employees as consideration for our equity instruments.
Summary · p. 7
Share-based payment expenses are not expected to result in future cash payments.
we use adjusted net profit/(loss) for the year (non-IFRS measure), and adjusted EBITDA (non-IFRS measure) as additional financial measures, which are not required by, or presented in accordance with IFRS Accounting Standards.
Professional fees are in relation to previous listing attempt; share-based payment expenses are non-cash expenses; and liabilities from special shareholder rights will be converted into the Company's equity upon [REDACTED], after which no further interest will accrue.