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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Compensation  
Schedule of changes in stock options granted

2017 Plan

Weighted

average

exercise

Number

price

of

per share

    

options

    

(US$)

Outstanding as at January 1, 2021

426,000

8.76

Forfeited

(32,500)

8.76

Granted

1,307,000

13.15

Adjustments for stock dividends issued in 2021

301,322

Not applicable

Outstanding as at December 31, 2021

2,001,822

10.31

Forfeited

(64,746)

11.17

Exercise of stock options (weighted average share price at dates of exercises: US$8.49 per share)

(42,949)

7.44

Outstanding as at December 31, 2022

1,894,127

10.34

Forfeited

(54,150)

10.20

Outstanding as at December 31, 2023

1,839,977

10.35

As at December 31, 2023

Options exercisable

1,839,977

Options available for granting in future periods

332,555

Schedule of information about stock options outstanding and exercisable

Options Outstanding and Exercisable

Weighted average remaining

Exercise Price per Share (US$)

Number

contractual life (in years)

$7.44

406,151

3.92

$11.17

1,433,826

7.33

Total

    

1,839,977

    

6.58

Schedule of share-based compensation expenses recognized

Years ended December 31:

    

2023

    

2022

    

2021

Share-based compensation expenses arising from stock options granted by the Company

$

$

$

2,497

Schedule of black-scholes-merton formula

    

2021

Number of options granted (on a post-stock dividend basis)

1,538,596

Vesting requirements

Immediately

Contractual life

9.33 years

Method of settlement

In equity

Exercise price per share

US$11.17

Market price per share on grant date

US$10.01

Expected volatility

39.24%

Expected option life

9.33 years

Expected dividends

8.00%

Risk-free interest rate

1.48%

Fair value of option granted (per option)

$1.62 (US$1.27)