| Share capital and additional paid in capital |
| 19. | Share
capital and additional paid in capital |
| | |
Number of
ordinary
shares | | |
Nominal value of ordinary
shares | | |
Share
capital | | |
Subscription receivable | | |
Treasury shares | | |
Warrant outstanding | | |
Additional
paid-in capital | | |
Total | |
| | |
| | |
US$ | | |
RMB’000 | | |
RMB’000 | | |
RMB’000 | | |
RMB’000 | | |
RMB’000 | | |
RMB’000 | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| At January 1, 2024 | |
| 2,455,202,303 | | |
| 24,552,023 | | |
| 165,183 | | |
| (4,696 | ) | |
| — | | |
| — | | |
| 7,196,341 | | |
| 7,356,828 | |
| Issuance of shares, net (ii) | |
| 47,619,050 | | |
| 476,191 | | |
| 3,380 | | |
| — | | |
| — | | |
| 29,587 | | |
| 1,145 | | |
| 34,112 | |
| Share-based compensation from ESOP (Note 26) | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| 161,231 | | |
| 161,231 | |
| Share-based compensation from controlling shareholder
ESOP (Note 26) | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| (810 | ) | |
| (810 | ) |
| Conversion of convertible bonds to shares (i) | |
| 27,888,690 | | |
| 278,887 | | |
| 1,982 | | |
| — | | |
| — | | |
| — | | |
| 27,803 | | |
| 29,785 | |
| Exercise of options | |
| 226,848,352 | | |
| 2,268,483 | | |
| 16,133 | | |
| — | | |
| — | | |
| — | | |
| (8,159 | ) | |
| 7,974 | |
| Capital contributions from non-controlling shareholders | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| 12,133 | | |
| 12,133 | |
| Repurchase of own shares | |
| (63,358,000 | ) | |
| (633,580 | ) | |
| — | | |
| — | | |
| (6,862 | ) | |
| — | | |
| — | | |
| (6,862 | ) |
| At December 31, 2024 | |
| 2,694,200,395 | | |
| 26,942,004 | | |
| 186,678 | | |
| (4,696 | ) | |
| (6,862 | ) | |
| 29,587 | | |
| 7,389,684 | | |
| 7,594,391 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| At January 1, 2025 | |
| 2,694,200,395 | | |
| 26,942,004 | | |
| 186,678 | | |
| (4,696 | ) | |
| (6,862 | ) | |
| 29,587 | | |
| 7,389,684 | | |
| 7,594,391 | |
| Issuance of shares, net (ii) | |
| 31,018,781,200 | | |
| 32,455,588 | | |
| 232,977 | | |
| (133,667 | ) | |
| — | | |
| — | | |
| 33,209 | | |
| 132,519 | |
| Share-based payments from the Company (Note 26) | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| (18,239 | ) | |
| (18,239 | ) |
| Share-based payments from the controlling shareholder
(Note 26) | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | | |
| 734 | | |
| 734 | |
| Exercise of options | |
| 63,615,000 | | |
| 636,150 | | |
| 4,557 | | |
| — | | |
| — | | |
| — | | |
| (4,500 | ) | |
| 57 | |
| Shares cancellation | |
| (2,708 | ) | |
| (27 | ) | |
| — | * | |
| — | | |
| — | | |
| — | | |
| — | * | |
| — | |
| Reduction of par value(iii) | |
| — | | |
| (59,999,938 | ) | |
| (423,973 | ) | |
| — | | |
| 6,861 | | |
| — | | |
| 417,112 | | |
| — | |
| At December 31, 2025 | |
| 33,776,593,887 | | |
| 33,777 | | |
| 239 | | |
| (138,363 | ) | |
| (1 | ) | |
| 29,587 | | |
| 7,818,000 | | |
| 7,709,462 | |
| * | Representing an amount with an absolute value of less than RMB1,000 (including negative amounts). |
| (i) | During the year ended December 31, 2024, the Company issued 27,888,690 Class A ordinary shares upon the conversion of certain convertible bonds issued to LMR in aggregate (Note 18). |
| (ii) | In March 2024, the Company issued to certain institutional investors 47,619,050 Class A ordinary shares together with warrants to purchase up to 47,619,050 Class A ordinary shares through a private placement for a total net proceeds of approximately RMB34.1 million, after deducting commissions and other offering expenses. The warrants were exercisable beginning six months following the date of issuance and will expire five years from the initial exercise date. The Company also issued warrants to initially purchase up to 2,380,950 Class A ordinary shares to a financial advisor in connection with this registered direct offering. |
During the first quarter of 2025, the Company issued an aggregate of 9,992,998 ADSs (at an ADS to ordinary share ratio of 1:200) of Class A ordinary shares to certain institutional investors pursuant to share subscription facility agreements.
In March 2025,
the Company issued an aggregate of 3,000,000 ADSs (at an ADS to ordinary share ratio of 1:200) of Class A ordinary shares to certain
institutional investors under a securities purchase agreement. In April 2025,
the Company issued 700,000 ADSs (at an ADS to ordinary share ratio of 1:800) of Class A ordinary shares under its at-the-market (ATM)
offering program.
In June 2025,
the Company issued 68,181,600 Class A ordinary shares to a service provider in exchange for services rendered.
In September
2025, the Company authorized and issued 16,000,000 Class D ordinary shares to Newlink Envision Limited, a wholly-owned subsidiary of
Newlink.
In November
2025, the Company issued an aggregate of 27,776,000,000 Class A ordinary shares, consisting of 12,800,000,000 shares to two subsidiaries
of Newlink, for which no cash consideration was received as of December 31, 2025, and 14,976,000,000 shares to certain institutional
investors.
|