v3.26.1
Share-Based Payments (Tables)
 12 Months Ended
Dec. 31, 2025
Share-Based Payments [Abstract]  
Schedule of Share Options Outstanding under Pre-IPO Share Option Scheme

The following share options were outstanding under the Pre-IPO share option scheme during the year:

 

   2024   2025 
  

Exercise
price HK$

per share

  

Number of
options

  

Exercise
price HK$

per share

   Number of
options		 
Outstanding as of January 1   0.01    3,263,648    0.01    2,607,571 
Forfeited during the year   
-
    
-
    0.01    (81)
Exercised during the year   0.01    (656,077)   0.01    (455,263)
Outstanding as of December 31   0.01    2,607,571    0.01    2,152,227 

The following share options were outstanding under the post-IPO share option scheme during the year:

 

   2025 
   Exercise price HK$ per share   Number of options 
         
Outstanding as of January 1   63.35    - 
Granted during the year   63.35    633,243 
Exercised during the year   63.35    - 
Outstanding as of December 31   63.35    633,243 
Schedule of Exercise Prices and Exercise Periods of Share Options Outstanding

The exercise prices and exercise periods of the share options outstanding as at the end of the reporting period are as follows:

 

2024
Number of
options		   Exercise price
HK$
per share		   Exercise period
 2,360,420    0.01   Aug 15, 2018-Aug 15, 2028
 232,719    0.01   May 15, 2019-May 15, 2029
 14,432    0.01   Sept 16, 2019-Sept 16, 2029
 2,607,571         

 

2025
Number of
options		     Exercise price
HK$
per share		     Exercise period
  1,983,383       0.01     Aug 15, 2018–Aug 15, 2028
  159,712       0.01     May 15, 2019–May 15, 2029
  9,132       0.01     Sept 16, 2019-Sept 16, 2029
  2,152,227              
2025 Number of options   Exercise price HK$ per share   Exercise period 
 633,243    63.35    

Nov 26, 2025–Nov 26, 2035

 
Schedule of fair values of share options granted

The fair value of the share options granted was estimated as at the grant date by using the binary tree option pricing model. The following table lists the key inputs to the fair value model used:

 

At grant dates    
Expected volatility   49.65%
Risk-free interest rate%   3.09%
Expected life of options (year)   10.00 
Weighted average share price (HKD per share)   34.98 
Schedule of Unlocking Date

Details of the unlocking date are summarized as follows:

 

Type of eligible participants   Grant fair
value HK$
per share		   % of
conditional
shares		   Vesting date  % of vested
conditional shares
1    43.80    100%  June 8, 2021-2024  35%, 15%, 25%, 25%
2    43.80    100%  June 8, 2021-2024  25%, 25%, 25%, 25%
3    43.80    100%  June 8, 2022–2025  35%, 15%, 25%, 25%
4    43.80    100%  April 30, 2022–2025  35%, 15%, 25%, 25%
5    43.80    100%  June 8, 2022–2025  25%, 25%, 25%, 25%
6    52.00    100%  June 8, 2022–2025  25%, 25%, 25%, 25%

Details of the unlocking date are summarized as follows:

 

Type of eligible participants   Grant fair
value HK$
per share		   % of
conditional shares		   Vesting date  % of vested
conditional shares		 
1    77.45    100% 

June 27, 2025

   100%

Details of the unlocking date are summarized as follows:

 

Type of eligible participants   Grant fair value HK$ per share     % of conditional shares     Vesting date   % of vested conditional shares
1   20.15     100 %   June 8, 2021-2024   35%, 15%, 25%, 25%
2     20.15       100 %   April 30, 2023–2026   25%, 25%, 25%, 25%
3     20.15       100 %   June 8, 2023–2026   25%, 25%, 25%, 25%
4     20.15       100 %   June 8, 2023–2024   40%, 60%
5     20.15       100 %   June 8, 2023–2025   30%, 30%, 40%
6     20.15       100 %   April 30, 2023–2026   23%, 69%, 6%, 2%

Details of the unlocking date are summarized as follows:

 

Type of eligible participants  Grant
fair value
HK$ per share		   % of
conditional
shares		   Vesting date  % of vested conditional shares
1   21.8    100%  August 1, 2023–2024  40%, 60%
2   21.8    100%  August 1, 2023–2025  30%, 30%, 40%
Type of eligible participants  Grant fair value HK$ per share   % of conditional shares   Vesting date  % of vested conditional shares 
1   33.95    100%  September 16, 2024   100% 
2   33.95    100%  September 16, 2024-2025   75%, 25% 
3   33.95    100%  September 16, 2024-2025   50%, 50% 
4   33.95    100%  September 16, 2024-2026   30%, 30%, 40% 
5   33.95    100%  September 16, 2024-2026   22.5%, 22.5%, 55% 
6   33.95    100%  September 16, 2024-2026   50%, 25%, 25% 
7   33.95    100%  September 16, 2024-2026   25%, 37%, 38% 
8   33.95    100%  September 16, 2025   100%
9   33.95    100%  September 16, 2025-2026   40%, 60% 
10   33.95    100%  September 16, 2025-2026   50%, 50% 
Type of eligible participants     Grant fair
value HK$
per share		     % of
conditional
shares		     Vesting date   % of vested
conditional shares
1       63.35       100 %   November 26, 2026-2028   33.33%, 33.33%, 33.34%
2       63.35       100 %   November 26, 2026-2029   25%, 25%, 25%, 25%
Schedule of Restricted Shares Outstanding

The following restricted shares were outstanding under the 2021 RSU Scheme during the year:

 

   2024
Number of
RSUs		   2025
Number of
RSUs		 
Outstanding as of January 1   108,998    41,552 
Granted during the year   
-
    48,439 
Forfeited during the year   (2,412)   - 
Vested during the year   (65,034)   (89,991)
Outstanding as of December 31   41,552    - 

The following restricted shares were outstanding under the 2022 RSU Scheme during the year:

 

   2024 Number of RSUs   2025 Number of RSUs 
Outstanding as of January 1   1,641,974    1,436,525 
Granted during the year   777,006    1,177,256 
Forfeited during the year   (42,768)   (132,302)
Vested during the year   (939,687)   (936,187)
Outstanding as of December 31   1,436,525    1,545,292