Share-based Compensation (Tables)
|
12 Months Ended |
Dec. 31, 2020 |
|---|
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
|
| Summary of the Share Options Activities |
A summary of the share options activities for years ended December 31, 2018, 2019 and 2020:
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Weighted
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Weighted
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Aggregate
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average
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remaining
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Intrinsic
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Number of
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exercise
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contractual
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Value
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shares
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USD
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years
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USD
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Outstanding as of December 31, 2017
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2,377,067
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2.18
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Granted
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1,053,150
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0.58
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Exercised
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(119,792)
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1.77
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|
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Forfeited
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(123,438)
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1.71
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Cancelled
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(1,901,752)
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2.13
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Expired
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(143,023)
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3.89
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Outstanding as of December 31, 2018
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1,142,212
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0.67
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Granted
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70,000
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0.50
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Exercised
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—
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—
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Forfeited
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(809,712)
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|
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|
0.61
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Cancelled
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—
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—
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Expired
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|
—
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—
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Outstanding as of December 31, 2019
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|
|
402,500
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0.75
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Granted
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424,698
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1.26
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Exercised
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—
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—
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Forfeited
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—
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|
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—
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|
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Cancelled
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|
—
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—
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|
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Expired
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|
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—
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|
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—
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Outstanding as of December 31, 2020
|
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|
827,198
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1.01
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Vested and expected to vest as of December 31, 2020
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827,198
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1.01
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8.11
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|
6,700
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Exercisable as of December 31, 2020
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235,832
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0.87
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7.40
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|
3,385
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| Schedule of Information Relating to Options Outstanding and Exercisable |
Information relating to options outstanding and exercisable as of December 31, 2020 is as follows:
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Options outstanding as of December 31, 2020
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Options exercisable as of December 31, 2020
|
|
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Exercise
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Remaining
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Exercise
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Remaining
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Number of
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Price
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Contractual
|
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Number
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Price
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Contractual
|
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Shares
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|
per Share
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Life
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of Shares
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per Share
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|
Life
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|
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USD
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|
Years
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USD
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|
Years
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62,500
|
|
1.71
|
|
6.05
|
|
60,416
|
|
1.71
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|
6.05
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|
320,000
|
|
0.58
|
|
7.85
|
|
166,666
|
|
0.58
|
|
7.85
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|
20,000
|
|
0.53
|
|
8.21
|
|
8,750
|
|
0.53
|
|
8.21
|
|
424,698
|
|
1.26
|
|
8.60
|
|
—
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—
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—
|
|
827,198
|
|
1.01
|
|
8.11
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|
235,832
|
|
0.87
|
|
7.40
|
|
| Summary of Assumptions Used in the Valuation Model |
The Company calculated the fair value of the share options on the grant date, for the years ended December 31, 2018, 2019 and 2020, using the Black-Scholes-Merton pricing valuation model. The assumptions used in the valuation model are summarized as follows:
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Year Ended December 31,
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2018
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2019
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2020
|
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Expected dividend yield
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0%
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0%
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0%
|
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Expected volatility
|
|
57%
|
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55%/54%
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|
57%
|
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Expected term
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|
5.11/6.11
|
|
6.08
|
|
6.04
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Risk-free interest rate (per annum)
|
|
3.05%/3.10%
|
|
2.53%/2.45%
|
|
0.67%
|
|
| Options |
|
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
|
| Schedule of Compensation Expense Recognized for Non-vested Shares |
Compensation expense recognized for non-vested share options for the year ended December 31, 2018, 2019 and 2020 is allocated to the following expense items:
|
|
|
Year Ended December 31,
|
|
|
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2018
|
|
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2019
|
|
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2020
|
|
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|
RMB
|
|
|
RMB
|
|
|
RMB
|
|
Research and development
|
|
157,355
|
|
|
68,016
|
|
|
—
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Sales and marketing
|
|
70,915
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|
|
—
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|
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—
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General and administrative
|
|
2,024,940
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|
345,991
|
|
|
316,815
|
|
Total share-based compensation expense
|
|
2,253,210
|
|
|
414,007
|
|
|
316,815
|
|
| Non-vested shares |
|
| Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
|
| Schedule of Compensation Expense Recognized for Non-vested Shares |
Compensation expense recognized for non-vested shares for the years ended December 31, 2018, 2019 and 2020 is allocated to the following expense items:
|
|
|
Year Ended December 31,
|
|
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2018
|
|
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2019
|
|
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2020
|
|
|
|
RMB
|
|
|
RMB
|
|
|
RMB
|
|
Research and development
|
|
|
240,441
|
|
|
|
367,313
|
|
|
74,861
|
|
Sales and marketing
|
|
|
96,058
|
|
|
|
—
|
|
|
—
|
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General and administrative
|
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7,119,658
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|
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|
4,028,134
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|
|
1,385,107
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|
Total share-based compensation expense
|
|
|
7,456,157
|
|
|
|
4,395,447
|
|
|
1,459,968
|
|
| Summary of the Non-vested Shares Activities |
A summary of the non-vested shares activities for the year ended December 31, 2018, 2019 and 2020 is presented below:
|
|
|
|
|
|
|
Weighted average
|
|
|
|
|
Number
|
|
|
grant date
|
|
|
|
|
of shares
|
|
|
fair value
|
|
|
|
|
|
|
|
|
USD
|
|
|
Outstanding at December 31, 2017
|
|
|
2,625,000
|
|
|
|
1.650
|
|
|
Granted
|
|
|
2,572,584
|
|
|
|
0.537
|
|
|
Vested
|
|
|
(2,068,586)
|
|
|
|
0.872
|
|
|
Forfeited
|
|
|
(71,250)
|
|
|
|
1.650
|
|
|
Cancelled
|
|
|
(1,262,250)
|
|
|
|
1.650
|
|
|
Outstanding at December 31, 2018
|
|
|
1,795,498
|
|
|
|
0.951
|
|
|
Granted
|
|
|
—
|
|
|
|
—
|
|
|
Vested
|
|
|
(693,362)
|
|
|
|
0.885
|
|
|
Forfeited
|
|
|
—
|
|
|
|
—
|
|
|
Cancelled
|
|
|
—
|
|
|
|
—
|
|
|
Outstanding at December 31, 2019
|
|
|
1,102,136
|
|
|
|
0.933
|
|
|
Granted
|
|
|
—
|
|
|
|
—
|
|
|
Vested
|
|
|
(484,678)
|
|
|
|
1.043
|
|
|
Forfeited
|
|
|
(14,370)
|
|
|
|
0.907
|
|
|
Cancelled
|
|
|
—
|
|
|
|
—
|
|
|
Outstanding at December 31, 2020
|
|
|
603,088
|
|
|
|
0.955
|
|
|