Vision - Alibaba

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138 Annual Report 2007 Notes to the Financial Statements 25 SHARE-BASED COMPENSATION (Continued) (a) Equity Award Plans operated by ultimate holding company (Continued) Employee Equity Exchange (Continued) Prior to the Employee Equity Exchange, employees of the Group holding options granted by the ultimate holding company exercisable for its shares which have already vested had the choice of: (i) having a percentage of such options exchanged for options exercisable for the Company’s shares under the Employee Equity Exchange (“Option Entitlement”); or (ii) exercising their Option Entitlement for shares of the ultimate holding company, all of which would then qualify for exchange for the Company’s shares under Employee Equity Exchange. In connection with (ii) above, the Group made available full recourse interest-bearing loans to its employees in order to allow them to pay individual income tax due upon exercise of the Option Entitlement. The loans advanced to employees bear interest at two-year term deposit base rate as published by PBOC from time to time and with a term of two years. A number of the employees took the loans and the outstanding loans, together with accrued interest, amounted to RMB27,067,000 as of December 31, 2007 (Note 18). The participating employees have charged the shares of the Company and the ultimate holding company that they benefi cially owned as security for these loans.
25 SHARE-BASED COMPENSATION (Continued) Notes to the Financial Statements (b) Pre-IPO share incentive scheme operated by ultimate holding company Share options granted under the Pre-IPO share incentive scheme Movements in the number of share options outstanding and their related weighted average exercise prices attributable to the employees of the Group as grantees of the Pre-IPO share incentive scheme of the ultimate holding company were as follows: Weighted average exercise price (i) 2007 2006 Number of options (ii) Weighted average exercise price (i) Number of options (ii) HK$ (’000) HK$ (’000) Outstanding as of January 1 — — — — Granted 6.8 68,990 — — Outstanding as of December 31 6.8 68,990 — — Exercisable as of December 31 — — — — (i) Exercise price is expressed in the currency in which the Company’s shares are denominated. (ii) Number of options represents the number of the Company’s shares, held by the ultimate holding company, into which the options are exercisable. None of the above share options outstanding as of December 31, 2007 were vested and exercisable. The weighted average remaining contractual life of the above share options was 5.7 years. 139
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Financial and Operational Highlight
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orld’s leading nline marketplace
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CORPORATE HEADQUARTERS 6th Floor, C
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November Launched TradeManager inst
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Awards and Recognitions Awards and
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Global E-Commerce Leader Alibaba.co
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Along with other members of Alibaba
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2007 Financial highlights We achiev
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CEO’s Statement This mission star
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Global Trade Starts Here Alibaba.co
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BUSINESS ENVIRONMENT Buoyant China
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International marketplace operating
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localize user services and facilita
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selling branded advertisements main
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Management Discussion and Analysis
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provider and other related expenses
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expenses include a royalty fee paid
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Profi t attributable to equity owne
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such land to accommodate our growth
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Corporate Social Responsibility —
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Biographical Details of Directors a
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Directors’ Report RETIREMENT SCHE
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Directors’ Report DIRECTORS’ RE
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52 Annual Report 2007 Notes: (a) Th
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56 Annual Report 2007 2. Outstandin
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58 Annual Report 2007 D = the maxim
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60 Annual Report 2007 (ii) Maximum
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62 Annual Report 2007 DIRECTORS’
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Directors’ Report We have also en
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Directors’ Report Alibaba Group h
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Directors’ Report Disclosure of d
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Corporate Governance Report Corpora
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Corporate Governance Report Since w
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Corporate Governance Report Composi
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Corporate Governance Report Composi
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Corporate Governance Report INVESTO
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The Leading B2B E-Commerce Company
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Independent Auditor’s Report We b
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Consolidated Balance Sheet As of De
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Vision - Alibaba

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