Annual Report 2023

NOTESTOTHE CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2023 123 The United Laboratories International Holdings Limited Annual Report 2023 33. SHARE-BASED PAYMENT TRANSACTIONS (Continued) Share award scheme (Continued) Details of movement in the numbers of award shares and the respective weighted average grant date fair value are follow: Weighted Granted As at average fair during 31 December value per Grantees Date of grant Vesting period the year 2023 award shares HK$ Directors 13 November 2023 13 November 2024 to 13 November 2026 1,805,700 1,805,700 7.45 Employees 13 November 2023 13 November 2024 to 13 November 2026 10,291,200 10,291,200 7.45 Total 12,096,900 12,096,900 7.45 The fair value of award share is determined based on the closing price of the Group’s publicly traded ordinary shares on the date of grant. The Group has to estimate the expected yearly percentage of grantees that will stay within the Group at the end of the vesting periods of the award share (the “Expected Retention Rate”) in order to determine the amount of share-based compensation expenses charged to profit or loss. As at 31 December 2023, the Expected Retention Rate for the Group’s directors and employees was assessed to be 100%. The total expenses recognised in the consolidated statement of profit or loss and other comprehensive income for share-based awards granted to the Group’s directors and employees are RMB950,000 and RMB5,415,000 for the year ended 31 December 2023, respectively (2022: Nil). As at 31 December 2023, 169,605,750 award shares are available for future grant under the aforementioned scheme mandate limit.