XML 27 R19.htm IDEA: XBRL DOCUMENT
v3.24.3

SHARE-BASED COMPENSATION | 6 Months Ended
--- | ---
Jun. 30, 2024
SHARE-BASED COMPENSATION |
SHARE-BASED COMPENSATION | 11.SHARE-BASED COMPENSATION In September 2009, the Group adopted the 2009 Share Incentive Plan which allows the Group to offer incentive awards to employees, officers, directors and consultants or advisors (the “Participants”). Under the 2009 Share Incentive Plan, the Group may issue incentive awards to up to 30,000,000 ordinary shares. In August 2010, the Group increased the maximum number of incentive awards available under the 2009 Share Incentive Plan to 150,000,000. In March 2015, the Group increased the maximum number of incentive awards available under the 2009 Share Incentive Plan to 430,000,000. In June 2023, the Group adopted the 2023 Share Incentive Plan (collectively with 2009 Share Incentive Plan, the “Incentive Award Plans”), which allows the Group to offer incentive awards up to 20,000,000 ordinary shares to Participants. In June 2024, the Group increased the maximum number of incentive awards available under the 2023 Share Incentive Plan to 300,000,000. The incentive awards granted under the Incentive Award Plans typically have a maximum life of ten years and vest in typical ways as listed below: a.)Vest 50% on the second anniversary of the stated vesting commencement date with the remaining 50% vesting ratably over the following two years; b.)Vest over a period of ten years in equal yearly installments; As of June 30, 2024, the Group had granted 274,295,790 options and 343,723,130 nonvested restricted stocks, which were subject to adjustment on performance condition. Share options In 2023, the Group granted 28,625,350 share options to senior officers, which was in five tranches with performance conditions, and the vesting of each of the five tranches commences respectively at the first, second, third, fourth, and fifth anniversary of grant date.Each tranche is accounted for as a separate award with the same grant date, the same service inception date and its own requisite service period. The actual number of share options that could be exercised is contingent on certain financial performance of the year when vesting of share option commences. The Group reassesses the performance condition at each reporting period for true up. For each tranche, 50% vests on the second anniversary of the stated vesting commencement date with the remaining 50% vesting ratably over the following two years and will become exercisable if certain performance conditions are met for the five-year period ending December 31, 2027. The weighted-average grant date fair value for options granted in 2023 was US$2.22 per share, computed using the binomial option pricing model. The binomial option pricing model requires the input of subjective assumptions including the expected stock price volatility and the expected price multiple at which employees are likely to exercise stock options. The Group uses historical data to estimate forfeiture rate. Expected volatilities are based on the average historical equity volatility of the Group. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The fair value of stock options was estimated using the following significant assumptions: ​
​ | ​ | ​ | ​
​ |  | 2023 |
Suboptimal exercise factor |  | 2.80 | ​
Risk-free interest rate |  | 3.61 | %
Volatility |  | 49.31 | %
Dividend yield |  | 0.80 | %
Life of option |  | 10 | years
​ The following table summarized the Group’s share option activity under the option plans: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Weighted Average | ​ | ​
​ | ​ | Number of | ​ | Weighted Average | ​ | Remaining | ​ | Aggregate Intrinsic
​ |  | Options |  | Exercise Price |  | Contractual Life |  | Value
​ | ​ | ​ |  | US$ |  | Years |  | US$’million
Share options outstanding at January 1, 2024 |  | 28,519,100 |  | 2.80 |  | 9.41 |  | 16
Share options outstanding at June 30, 2024 |  | 28,519,100 |  | 2.80 |  | 8.92 |  | 15
Share options vested or expected to vest at June 30, 2024 |  | 26,429,100 |  | 2.80 |  | 8.92 |  | 14
Share options exercisable at June 30, 2024 |  | — |  | — |  | — |  | —
​ Given the actual number of share options that could be exercised is contingent on certain financial performance of the year when vesting commences, the share-based compensation expenses related to these options would be recognized when the financial performance is expected to be met. The Group didn’t record any compensation expenses relating to options which are indexed to financial performance beyond the year ended December 31, 2024. The total share based compensation expenses relating to these options was RMB256. As of June 30, 2024, there was RMB123 in total unrecognized compensation expense, net of estimated forfeitures, related to the option arrangements, which is expected to be recognized over a weighted-average period of 3.44 years. Nonvested restricted stocks The fair value of nonvested restricted stock with service conditions or performance conditions is based on the fair market value of the underlying ordinary shares on the date of grant. In 2023, the Group granted 28,625,350 nonvested restricted stocks to senior officers, each was in five tranches with performance conditions, and the vesting of each of the five tranches commences respectively at the first, second, third, fourth, and fifth anniversary of grant date. Each tranche is accounted for as a separate award with the same grant date, the same service inception date and its own requisite service period. The actual number of nonvested restricted stocks that could vest is contingent on certain financial performance of the year when vesting commences. The Group reassesses the performance condition at each reporting period for true up. For each tranche, 50% vests on the second anniversary of the vesting commencement date with the remaining 50% vesting ratably over the following two years. The share-based compensation expenses related to these nonvested restricted stocks would be recognized when the financial performance is expected to be met. The Group didn’t record any compensation expenses relating to incentive shares which are indexed to financial performance beyond the year ended December 31, 2024. The following table summarized the Group’s nonvested restricted stock activities during the six months ended June 30, 2024. ​
​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted
​ | ​ | Number of | ​ | Average Grant
​ |  | Restricted Stocks |  | Date Fair Value
​ | ​ |  | ​ | US$
Nonvested restricted stocks outstanding at January 1, 2024 |  | 95,061,300 |  | 2.54
Granted | ​ | 35,576,220 | ​ | 3.10
Forfeited | ​ | (1,109,850) | ​ | 2.84
Vested | ​ | (3,775,370) | ​ | 1.66
Nonvested restricted stocks outstanding at June 30, 2024 | ​ | 125,752,300 | ​ | 2.72
​ As of June 30, 2024, there was RMB1,656 in unrecognized compensation costs, net of estimated forfeitures, related to unvested restricted stocks, which is expected to be recognized over a weighted-average period of 6.40 years. The total fair value of nonvested restricted stocks vested was RMB134 and RMB101 for the six months ended June 30, 2023 and June 30, 2024 respectively. For the six months ended June 30, 2023 and 2024, the Group recognized share-based compensation expenses of RMB61 and RMB170, respectively, which were classified as follows: ​
​ | ​ | ​ | ​ | ​
​ | ​ | Six Months Ended June 30,
​ |  | 2023 |  | 2024
Hotel operating costs |  | 16 |  | 15
Selling and marketing expenses |  | 3 |  | 3
General and administrative expenses |  | 42 |  | 152
Total |  | 61 |  | 170
​

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration