Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Share-based Compensation (Tables)

v3.22.1
Share-based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
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, 2019, 2020 and 2021:

 

 

 

 

 

 

 

Weighted

 

 

Weighted

 

Aggregate

 

 

 

 

 

 

average

 

 

remaining

 

Intrinsic

 

 

Number of

 

 

exercise

 

 

contractual

 

Value

 

 

shares

 

 

USD

 

 

years

 

USD

Outstanding as of December 31, 2018

 

 

1,142,212

 

 

 

0.67

 

 

 

 

 

Granted

 

 

70,000

 

 

 

0.50

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(809,712)

 

 

 

0.61

 

 

 

 

 

Cancelled

 

 

 

 

 

 

 

 

 

 

Expired

 

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2019

 

 

402,500

 

 

 

0.75

 

 

 

 

 

Granted

 

 

424,698

 

 

 

1.26

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

 

 

 

 

Cancelled

 

 

 

 

 

 

 

 

 

 

Expired

 

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2020

 

 

827,198

 

 

 

1.01  

 

 

  

 

 

Granted

 

 

181,750

 

 

 

0.57

 

 

 

 

 

Exercised

 

 

(62,416)

 

 

 

0.58

 

 

 

 

 

Forfeited

 

 

(135,700)

 

 

 

0.57

 

 

 

 

 

Cancelled

 

 

 

 

 

 

 

 

 

 

Expired

 

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2021

 

 

810,832

 

 

 

1.02

 

 

 

 

 

Vested and expected to vest as of December 31, 2021

 

 

810,832

 

 

 

1.02

 

 

7.23

 

58

Exercisable as of December 31, 2021

 

 

260,500

 

 

 

0.85

 

 

6.44

 

38

Schedule of Information Relating to Options Outstanding and Exercisable

Information relating to options outstanding and exercisable as of December 31, 2021 is as follows:

 

Options outstanding as of December 31, 2021

 

Options exercisable as of December 31, 2021

 

 

Exercise

 

Remaining

 

 

 

Exercise

 

Remaining

Number of

 

Price

 

Contractual

 

Number

 

Price

 

Contractual

Shares

 

per Share

 

Life

 

of Shares

 

per Share

 

Life

 

 

USD

 

Years

 

 

 

USD

 

Years

62,500

 

1.71

 

5.05

 

62,500

 

1.71

 

5.05

259,584

 

0.58

 

6.85

 

186,250

 

0.58

 

6.85

18,000

 

0.53

 

7.21

 

11,750

 

0.53

 

7.21

424,698

 

1.26

 

7.60

 

 

 

46,050

 

0.57

 

9.01

 

 

 

810,832

 

1.02

 

7.23

 

260,500

 

0.85

 

6.44

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, 2019, 2020 and 2021, using the Black-Scholes-Merton pricing valuation model. The assumptions used in the valuation model are summarized as follows:

 

 

 

Year Ended December 31,

 

 

2019

 

2020

 

2021

Expected dividend yield

 

0%

 

0%

 

0%

Expected volatility

 

55%/54%

 

57%

 

70%

Expected term

 

6.08

 

6.04

 

5.40

Risk-free interest rate (per annum)

 

2.53%/2.45%

 

0.67%

 

0.90%

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, 2019, 2020 and 2021 is allocated to the following expense items:

 

 

 

Year Ended December 31,

 

 

2019

 

 

2020

 

 

2021

 

 

RMB

 

 

RMB

 

 

RMB

Cost of revenues

 

 

 

 

 

62,224

Research and development

 

68,016

 

 

 

 

6,944

Sales and marketing

 

 

 

 

 

6,806

General and administrative

 

345,991  

 

 

316,815

 

 

476,435

Total share-based compensation expense

 

414,007  

 

 

316,815

 

 

552,409

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, 2019, 2020 and 2021 is allocated to the following expense items:

 

 

 

 

Year Ended December 31,

 

 

2019

 

 

2020

 

 

2021

 

 

RMB

 

 

RMB

 

 

RMB

Cost of revenues

 

 

 

 

 

 

 

27,806

Research and development

 

 

367,313

 

 

 

74,861

 

 

3,692

Sales and marketing

 

 

 

 

 

 

 

11,741

General and administrative

 

 

4,028,134

 

 

 

1,385,107

 

 

444,324

Total share-based compensation expense

 

 

4,395,447

 

 

 

1,459,968

 

 

487,563

Summary of the Non-vested Shares Activities

A summary of the non-vested shares activities for the year ended December 31, 2019, 2020 and 2021 is presented below:

 

 

 

 

 

 

 

Weighted average

 

 

 

Number

 

 

grant date

 

 

 

of shares

 

 

fair value

 

 

 

 

 

 

 

USD

 

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

 

Granted

 

 

77,500

 

 

 

1.545

 

Vested

 

 

(419,752)

 

 

 

1.112

 

Forfeited

 

 

(61,500)

 

 

 

1.545

Cancelled

 

 

 

 

 

 

Outstanding at December 31, 2021

 

 

199,336

 

 

 

0.671