Share-based payments relate to (i) the share awards we offered to our employees and directors under the 2018 Share Incentive Plan and (ii) the excess of the transaction price over the fair value of the Class A ordinary shares, with reference to a third-party valuation report, which was considered compensatory in nature in exchange for service of the founders, and therefore was recognized as share-based payment expense and credited to share premium.
Our staff cost in administrative expenses increased from RMB50.2 million in 2022 to RMB76.3 million in 2023 primarily due to the increase in share-based payments of RMB25.1 million, which is non-cash in nature.
Financial Information · p. 380
Share-based payments are non-cash in nature and are employee related expenses arising from grant of share options under our share incentive plan.
As a part of those share-based awards are conditional on an initial public offering (“IPO”), we have estimated the completion date of our IPO when we calculated share-based payments at each reporting period end.
Financial Information · p. 375
Share-based payments are non-cash in nature and do not result in cash outflow.
The fair value of the options granted is determined by the binomial option pricing model at the grant date, and is expected to be expensed over the respective vesting periods.
Financial Information · p. 354
Share based payment expenses mainly represent the non-cash employee benefit expenses incurred in connection with our award to management and key employees.
During the Track Record Period, we granted share economic rights in our share incentive platforms to our senior management and employees, and we incurred substantial share-based payment expenses of RMB161.4 million, RMB10.5 million and RMB191.1 million in 2021, 2022 and 2023, respectively, accounting for 35.6%, 2.0% and 26.8% of our total revenue in the same periods, respectively.
Financial Information · p. 348
We have implemented a number of internal procedures to ensure the effectiveness and efficiency of our hiring practice, including review and approval procedures for staff recruitment, and additional staffing and the corresponding budget will require the approval of the head of department and/or the CFO.
Share-based payments arose from grant of shares and exercise of anti-dilution rights granted to certain employees and shareholders of our Group which were non-cash in nature.
Summary · p. 10
Our share-based payments during the Track Record Period arose from shares and anti-dilution rights granted to certain management and shareholders of our Group.
We had share-based payment expenses of RMB22.7 million, RMB29.8 million and RMB110.4 million in 2021, 2022 and 2023, respectively.
Financial Information · p. 377
Our share-based payment expenses increased significantly from RMB29.8 million in 2022 to RMB110.4 million in 2023, primarily due to (1) the share transfer from the Pre-IPO Share Incentive Schemes to 5brothers Limited on March 31, 2023, and (2) an increase in certain restricted shares that were fully vested in 2023.
Financial Information · p. 382
Share-based payment expenses are non-cash in nature arising from the grant of restricted shares and options to 5brothers Limited and other senior management and employees.
Share-based compensation expenses mainly represent expenses incurred in connection with our Pre-IPO ESOP.
Financial Information · p. 551
We expect that we will continue to be loss-making in 2024 primarily due to the anticipated costs and expenses associated with (i) the implementation of our commercialization plan, particularly in the U.S. and Europe, and (ii) increased share-based payment expenses.
Summary · p. 38
In March 2024, we granted 14,527,004 share options under our Pre-IPO ESOP to certain employees.
The increase between 2021 and 2022 was also due to an increase in share-based payments expenses for our employees principally led by the 2021 Share Incentive Scheme.
Summary · p. 17
The decrease in employee benefit expenses in 2022 and 2023 as compared to 2021 was primarily attributable to the significant decrease in share-based payments expenses for our employees in 2022 and 2023.
Share-based compensation, which represents the non-cash employee benefit expenses incurred. It relates to the share rewards we offered to our employees under the Pre-IPO Share Option Scheme, which is a non-cash expense; and
Equity-settled share-based payment expenses represent the fair value of the shares granted at the date of grant with taking into account the consideration for subscription of the equity interests.
Summary · p. 12
The item is adjusted as it is non-cash and is not expected to result in our future cash payments.
Our share-based compensation expenses consists of share options granted under the equity-settled share option schemes and incentive shares or shares granted to our employees.
We define adjusted net loss (non-IFRS measure) as net loss for the period adjusted by adding back share-based compensation, fair value changes in financial instruments issued to investors and listing expenses.
Summary · p. 6
Share-based compensation is non-cash in nature and mainly represents the arrangement that we receive services from employees as consideration for our equity instruments.
The operating loss was generally due to our (i) share-based compensation of RMB64.5 million, RMB156.4 million, RMB204.4 million, RMB114.9 million and RMB179.5 million, in FY2020, FY2021, FY2022, 6M2022 and 6M2023, respectively; and (ii) one-off share-based payments to facilitate acquisition of a subsidiary of RMB92.0 million in FY2022.
Summary · p. 15
Changes in these estimates and assumptions could have a material effect on the determination of the timing and amount of RSUs to vest, which may in turn significantly impact the amount of share-based compensation expenses for the respective years.
We have engaged an independent valuer to determine the total fair value of the equity incentive tools granted to employees.
Financial Information · p. 382
The Forfeiture Rate of the restricted shares awarded of our Group to managements and employees were assessed to be 15% to 30%, 25% to 45%, 25% to 45% and 25% to 45% as of December 31, 2020, 2021 and 2022 and June 30, 2023, respectively.
We define "adjusted net loss (non-IFRS measure)" as loss for the year/period adjusted by adding back share-based payments.
Financial Information · p. 410
Our Group operates an equity-settled share-based payment plan, under which employees provide services to our Group in exchange for the equity instruments of our Group.
Share-based payment consisted of non-cash expenses arising from granting options to eligible individuals under the 2020 Incentive Scheme and the Pre-IPO Incentive Scheme and does not result in cash outflow.
Summary · p. 13
Such increase was primarily due to the increase in general and administrative expenses mainly attributable to an increase in share-based payments recognized in 2023 in relation to share incentives granted to our employees.
Exclude share-based payments and expenses of US$188.3 million, US$603.7 million, US$281.4 million, US$260.6 million and US$1,426.9 million in 2020, 2021, 2022 and the six months ended June 30, 2022 and 2023, respectively.
Business · p. 223
We expect that we will continue to record net losses for our results of operations in 2023 as we continue to incur significant non-operating expenses driven by our share-based payments and compensation expenses, finance costs and other selling, administrative and general expenses.
Share-based payments are non-cash in nature and are not expected to result in future cash payments made by us, representing (i) share-based payments in relation to share awards of RMB691.0 million in 2022, which represented the difference between the fair value and price of the paid-in capital of Shiyue Zhongxin granted to Mr. Wang and Ms. Zhao as a consideration for their services rendered, see Note 26(a) of Appendix I to this prospectus; and (ii) share-based payments of RMB187.3 million in 2021 and RMB48.6 million in 2022 in relation to transfers of paid-in capital from our certain senior management to new investors of Series B financing in 2021 and Series C financing in 2022, representing a consideration higher than the fair value of the transferred paid-in capital at the dates of share transfers, see Note 22(a) and Note 26(b) of Appendix I to this prospectus.
Our net loss increased from RMB198.8 million as of December 31, 2020 to RMB294.7 million as of December 31, 2021, mainly attributable to an increase in share-based compensation expenses due to our issuance of Pre-IPO SOS Options to our employees in January 2021.
Summary · p. 17
In particular, the share-based compensation expenses are a non-cash expense arising from granting share-based awards to selected employees.
Summary · p. 16
The decrease in our share-based compensation expenses were mainly because we granted Pre-IPO SOS Options before July 2021 and recognized a majority of share-based compensation expenses by the end of 2022