港股IPO招股书披露先例 · 102 家公司，102 项
指往绩记录期间向董事、管理层及关键雇员授出的以权益结算股份支付开支金额重大、影响各期损益的情形。招股书一般在概要、风险因素、业务及财务资料章节披露各年开支金额、所涉激励计划及其非现金性质，说明不会产生未来现金付款，并已在经调整净亏损（非IFRS计量）中加回；部分亦披露公允价值以二项式模型厘定，或加速归属等因素导致开支波动的原因。
We granted stock incentive to our employees, which are viewed as share-based payment transaction in substance.
Financial Information · 第 201 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Estimating the fair value of share-based payment transactions requires the determination of the most appropriate valuation model, which depends on the terms and conditions of the grant.
Financial Information · 第 201 页
(1) Equity-settled share-based payment expenses relate to share awards we offered to our employees and directors.
Summary · 第 7 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看We define adjusted net loss (Non-IFRS measure) as loss for the years adjusted by adding back (i) equity-settled share-based payment expenses, which are non-cash in nature, and (ii) listing expenses, which relate to the Global Offering.
Financial Information · 第 256 页
payment expenses(1) | 3,971 | 1,304 | 845 | 396 | 445
Summary · 第 9 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Equity-settled share-based payment expenses mainly represent the non-cash employee benefit expenses incurred in connection with our awards granted to management and key employees. Such expenses in any specific period are not expected to result in future cash payments.
Summary · 第 9 页
Equity-settled share award expenses mainly represent the non-cash employee benefit expenses incurred in connection with our award to management and key employees.
Summary · 第 15 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Such expenses in any specific period are not expected to result in future cash payments.
Summary · 第 15 页
Our adjusted net loss (non-IFRS measure) decreased from RMB39.3 million in 2023 to RMB36.4 million in 2024, primarily due to an increase of RMB15.0 million in gross profit, as adjusted by share-based payment expenses of RMB10.6 million.
Financial Information · 第 228 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Share-based payment expenses are non-cash expenses arising from share award schemes for the purpose of providing incentives and rewards to eligible participants who contribute to the success of our operations.
Summary · 第 8 页
Share-based payment expenses(3) | 8,968 | 35,970 | — | — | 3,748
Summary · 第 8 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Share-based payment expenses relate to the non-cash employee benefit expenses incurred in connection with our award to management and key employees.
Summary · 第 8 页
Equity-settled share-based payment expenses are non-cash in nature and mainly represent the arrangement that we receive services from employees and others providing similar services as consideration for our equity instruments.
Summary · 第 8 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Equity-settled share-based payment expenses are not expected to result in future cash payments.
Summary · 第 8 页
These business partners included a franchisee, some suppliers and other people in our industry who may provide us with insights and industry resources that potentially contribute to our future business expansion.
Summary · 第 8 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看As a result of the increase in our share-based payments as included in operating expenses, our profit for the year decreased by 15.0% from RMB167.1 million in 2023 to RMB142.0 million in 2024.
Summary · 第 9 页
Equity-settled share-based payment expenses are non-cash in nature.
Summary · 第 6 页
Our net profit declined during the period, mainly due to (i) changes in our product mix, (ii) increased R&D expenses, (iii) absence of gains on investment in listed securities, and (iv) increased equity-settled share-based compensation.
Summary · 第 6 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Had the fair value change of the listed securities not been taken into account, our net profit might decline in 2026, primarily due to: (i) potential changes in our product mix, as the downstream markets for our higher-margin memory chip products are expected to face headwinds; (ii) a planned increase in R&D expenditure to support our expanded R&D activities; and (iii) additional share-based compensation expenses.
Summary · 第 11 页
the aggregate of our selling and distribution expenses and administrative expenses exceeded our R&D expenses for the year ended December 31, 2025 primarily due to non-recurring expenses incurred under our selling and distribution expenses and administrative expenses during the year ended December 31, 2025, including share-based compensation expenses of approximately RMB9.1 million as a result of the awards granted under the Pre-[REDACTED] Equity Incentive Scheme during the year ended December 31, 2025 and [REDACTED] expenses of approximately RMB[REDACTED] million.
Business · 第 184 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看For illustrative purpose, by excluding share-based compensation expenses and [REDACTED] expenses, the aggregate of our selling and distribution expenses and administrative expenses for the years ended December 31, 2025 would amount to approximately RMB31.4 million which remains less than our R&D expenses of approximately RMB34.9 million (after excluding share-based compensation expenses under our R&D expenses);
Business · 第 184 页
In 2023, 2024, 2025 and for the four months ended April 30, 2025 and 2026, our profit for the year/period amounted to RMB92.0 million, RMB26.4 million, RMB139.0 million, RMB49.7 million and RMB45.2 million, respectively.
Summary · 第 3 页
As a result, we recorded share-based payments of RMB1.6 million, RMB72.1 million, RMB4.6 million, RMB4.6 million and nil in 2023, 2024, 2025 and for the four months ended April 30, 2025 and 2026, respectively.
Summary · 第 3 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Share-based payments are non-cash in nature and do not result in cash outflow and [REDACTED] expenses are expenses relates to previous A-share listing attempt and the [REDACTED] and are non-recurring in nature.
Financial Information · 第 203 页
The adjusted profit for the year/period (Non-IFRS measure) represents our profit for the year/period before share-based compensation expenses and [REDACTED].
Summary · 第 7 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Share-based compensation expenses are non-cash in nature.
Financial Information · 第 158 页
The significant increases in 2024 and 2025 were primarily driven by an increase in our computing resource costs, as well as substantial share-based compensation expenses recognized following the grant of equity incentives to our R&D employees.
Financial Information · 第 174 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看We recorded share-based compensation liabilities, including both current and non-current portions, of nil, RMB14.5 million and RMB107.3 million as of December 31, 2023, 2024 and 2025, respectively.
Financial Information · 第 190 页
Share-based payments | 5,222 | 1,420 | 40,852
Summary · 第 10 页
(ii) share-based payments, which represent the non-cash employees and external consultants benefit expenses incurred in connection with our award to employees, as these expenses in any specific period are not expected to result in future cash payments;
Summary · 第 10 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看We expect to record an increase in net loss in 2026, primarily due to (i) the plan to implement a new employee equity incentive plan to align the interests of employees and appeal to skilled professionals, encouraging employees to focus on sustainable financial growth and long-term gains, and (ii) the increase in [REDACTED].
Summary · 第 20 页
Our net loss increased from RMB157.5 million in 2023 to RMB191.8 million in 2024, primarily due to (1) the increase in finance costs, primarily due to an increase in interests on redemption liabilities, as a result of the increasing interests accrued on the redemption rights of the Pre-IPO Investors included in our financing arrangements along with our increasing financing activities, (2) the increase in administrative expenses, primarily due to the increase in the share-based compensation recognized in relation to an equity transaction between Shareholders of the Company, and (3) the increase in impairment losses under ECL model, net of reversal, primarily due to the increase in impairment losses recognized on trade receivables as a result of the increased trade receivables in line with revenue growth.
Summary · 第 6 页
Share-based payment expenses are non-cash expenses arising from the share incentives that we grant to employees.
Summary · 第 6 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看In 2026, we expect to record increasing net loss, primarily as a result of (1) the share-based compensation expenses recognized prior to the Listing, as the vesting condition of the shares awarded is contingent on the Listing, and therefore no share-based compensation expenses is recognized until the Listing is concluded highly probable in 2026; and (2) the further accrual of interest expense on redemption liabilities in connection with our Pre-IPO Investments, which is expected to adversely affect our financial performance in 2026.
Summary · 第 10 页
We define adjusted net profit (Non-IFRS measure) as profit for the years adjusted by adding back share-based payment expenses, which are non-cash in nature.
Financial Information · 第 192 页
Share-based payment expenses | — | — | 28,726
Financial Information · 第 193 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Adjusted net profit | 26,483 | 92,952 | 131,813
Financial Information · 第 193 页
We define adjusted net profit (non-HKFRS financial measure) as loss for the year adjusted by adding back fair value loss on convertible redeemable preferred shares, equity-settled share-based payments and [REDACTED] expenses.
Financial Information · 第 219 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Equity-settled share-based payments | 2,852 | 28,411 | 237,654
Financial Information · 第 220 页
Share-based payment expenses were related to the non-cash employee benefit expenses incurred in connection with our award to management and key employees.
Summary · 第 11 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看We define adjusted net loss for the year (non-IFRS measure) as net loss for the year adjusted by adding back (i) share-based payment expenses and (ii) listing expense.
Summary · 第 11 页
Share-based payment expenses | 685 | 536 | 100,309
Financial Information · 第 207 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Adjusted loss (non-IFRS measures) represents loss for the year excluding share-based payment expenses, which is a non-cash item, and fair value losses of financial liabilities at fair value through profit or loss, which mainly represent changes in the fair value of equity shares with redemption rights issued by us to pre-[REDACTED] investors and relate to changes in our valuation.
Financial Information · 第 206 页
Equity-settled share-based payment expenses consist of non-cash expenses arising from granting restricted stock units and share options to eligible individuals under a share-based incentive scheme and our Share Option Scheme.
Summary · 第 10 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Equity-settled share-based payment expenses | 17,242 | 23,380 | 55,972
Summary · 第 10 页