SHARE-BASED COMPENSATION (Tables)
|
12 Months Ended |
Dec. 31, 2023 |
|---|
| SHARE-BASED COMPENSATION |
|
| Summary of the Share Options Activities |
A summary of the share options activities for years ended December 31, 2021, 2022 and 2023:
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted |
|
Weighted |
|
Aggregate |
|
|
|
|
average |
|
remaining |
|
Intrinsic |
|
|
Number of |
|
exercise |
|
contractual |
|
Value |
|
|
shares |
|
USD |
|
years |
|
USD |
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 |
|
— |
|
— |
Granted |
|
797,700 |
|
0.99 |
|
— |
|
— |
Exercised |
|
(53,538) |
|
0.58 |
|
— |
|
— |
Forfeited |
|
(178,252) |
|
0.97 |
|
— |
|
— |
Cancelled |
|
— |
|
— |
|
— |
|
— |
Expired |
|
— |
|
— |
|
— |
|
— |
Outstanding as of December 31, 2022 |
|
1,376,742 |
|
1.03 |
|
— |
|
— |
Granted |
|
587,697 |
|
1.07 |
|
— |
|
— |
Exercised |
|
(113,328) |
|
0.58 |
|
— |
|
— |
Forfeited |
|
(162,518) |
|
0.57 |
|
— |
|
— |
Cancelled |
|
— |
|
— |
|
— |
|
— |
Expired |
|
— |
|
— |
|
— |
|
— |
Outstanding as of December 31, 2023 |
|
1,688,593 |
|
1.12 |
|
— |
|
— |
Vested and expected to vest as of December 31, 2023 |
|
1,688,593 |
|
1.12 |
|
6.04 |
|
3,093 |
Exercisable as of December 31, 2023 |
|
1,025,496 |
|
1.15 |
|
5.82 |
|
1,747 |
|
| Schedule of Information Relating to Options Outstanding and Exercisable |
Information relating to options outstanding and exercisable as of December 31, 2023 is as follows:
|
|
|
|
|
|
|
|
|
|
|
Options outstanding as of December 31, 2023 |
|
Options exercisable as of December 31, 2023 |
|
|
Exercise |
|
Remaining |
|
|
|
Exercise |
|
Remaining |
Number of |
|
Price |
|
Contractual |
|
Number |
|
Price |
|
Contractual |
Shares |
|
per Share |
|
Life |
|
of Shares |
|
per Share |
|
Life |
|
|
USD |
|
Years |
|
|
|
USD |
|
Years |
20,000 |
|
0.58 |
|
4.85 |
|
20,000 |
|
0.58 |
|
4.85 |
16,800 |
|
0.53 |
|
5.21 |
|
16,800 |
|
0.53 |
|
5.21 |
1,274,093 |
|
1.26 |
|
5.60 |
|
849,396 |
|
1.26 |
|
5.60 |
172,700 |
|
0.57 |
|
7.01 |
|
89,300 |
|
0.57 |
|
7.01 |
200,000 |
|
0.79 |
|
8.11 |
|
50,000 |
|
0.79 |
|
8.11 |
5,000 |
|
0.48 |
|
10.01 |
|
|
|
|
|
|
1,688,593 |
|
1.12 |
|
6.04 |
|
1,025,496 |
|
1.15 |
|
5.82 |
|
| 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, 2021, 2022 and 2023, using the Black-Scholes-Merton pricing valuation model. The assumptions used in the valuation model are summarized as follows:
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
|
2021 |
|
2022 |
|
2023 |
|
Expected dividend yield |
|
0 |
% |
0 |
% |
0 |
% |
Expected volatility |
|
70 |
% |
67 |
% |
68 |
% |
Expected term |
|
5.40 |
|
4.17/4.79/6.25 |
|
3.58/4.29/5.25 |
|
Risk-free interest rate (per annum) |
|
0.90 |
% |
2.08%/2.78%/1.84 |
% |
3.57%/3.68%/4.68 |
% |
|
| Options |
|
| SHARE-BASED COMPENSATION |
|
| Schedule of Compensation Expense Recognized for Non-vested Shares |
Compensation expense recognized for share options for the year ended December 31, 2021, 2022 and 2023 is allocated to the following expense items:
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2021 |
|
2022 |
|
2023 |
|
|
RMB |
|
RMB |
|
RMB |
Cost of revenues |
|
62,224 |
|
59,874 |
|
53,104 |
Research and development |
|
6,944 |
|
4,785 |
|
— |
Sales and marketing |
|
6,806 |
|
35,546 |
|
53,133 |
General and administrative |
|
476,435 |
|
935,582 |
|
1,443,900 |
Total share-based compensation expense |
|
552,409 |
|
1,035,787 |
|
1,550,137 |
|
| Non-vested shares |
|
| SHARE-BASED COMPENSATION |
|
| Schedule of Compensation Expense Recognized for Non-vested Shares |
Compensation expense recognized for non-vested shares for the years ended December 31, 2021, 2022 and 2023 is allocated to the following expense items:
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2021 |
|
2022 |
|
2023 |
|
|
RMB |
|
RMB |
|
RMB |
Cost of revenues |
|
27,806 |
|
29,057 |
|
21,722 |
Research and development |
|
3,692 |
|
— |
|
— |
Sales and marketing |
|
11,741 |
|
40,655 |
|
63,321 |
General and administrative |
|
444,324 |
|
354,256 |
|
1,432,861 |
Total share-based compensation expense |
|
487,563 |
|
423,968 |
|
1,517,904 |
|
| Summary of the Non-vested Shares Activities |
A summary of the non-vested shares activities for the year ended December 31, 2021, 2022 and 2023 is presented below:
|
|
|
|
|
|
|
|
|
Weighted |
|
|
|
|
average |
|
|
|
|
grant |
|
|
Number |
|
date fair |
|
|
of shares |
|
value |
|
|
|
|
USD |
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 |
Granted |
|
350,500 |
|
0.841 |
Vested |
|
(199,336) |
|
0.671 |
Forfeited |
|
(52,750) |
|
0.615 |
Cancelled |
|
— |
|
— |
Outstanding at December 31, 2022 |
|
297,750 |
|
0.881 |
Granted |
|
872,500 |
|
0.467 |
Vested |
|
(133,950) |
|
0.851 |
Forfeited |
|
(29,250) |
|
0.925 |
Cancelled |
|
— |
|
— |
Outstanding at December 31, 2023 |
|
1,007,050 |
|
0.525 |
|