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Convertible Redeemable Preferred Shares (Tables)

12 Months Ended

Dec. 31, 2021

Temporary Equity Disclosure [Abstract]

Summary of convertible redeemable preferred share

The Company’s convertible redeemable preferred shares activities for the years ended December 31, 2019, 2020 and 2021 are summarized below:

		Series A Preferred Shares								Series B Preferred Shares								Series C Preferred Shares								Series D Preferred Shares								Series E Preferred Shares								Series F Preferred Shares								Total
		Number of shares				Amount (RMB)				Number of shares				Amount (RMB)				Number of shares				Amount (RMB)				Number of shares				Amount (RMB)				Number of shares				Amount (RMB)				Number of shares				Amount (RMB)				Number of shares				Amount (RMB)
Balance as of January 1, 2019			60,000,000				30,144				40,000,000				56,554				147,068,133				400,950				60,856,049				317,533				83,474,263				874,107				—				—				391,398,445				1,679,288
Issuance of Series E Preferred Shares Tranche I and II, net of issuance cost			—				—				—				—				—				—				—				—				60,599,104				691,894				—				—				60,599,104				691,894
Accretion on convertible redeemable preferred shares to redemption value			—				3,290				—				6,231				—				42,417				—				35,053				—				145,328				—				—				—				232,319
Balance as of December 31, 2019			60,000,000				33,434				40,000,000				62,785				147,068,133				443,367				60,856,049				352,586				144,073,367				1,711,329				—				—				451,997,549				2,603,501
Issuance of Series F Preferred Shares, net of issuance cost			—				—				—				—				—				—				—				—				—				—				99,354,585				2,803,114				99,354,585				2,803,114
Accretion on convertible redeemable preferred shares to redemption value			—				2,743				—				5,191				—				35,198				—				28,196				—				133,704				—				78,949				—				283,981
Balance as of December 31, 2020			60,000,000				36,177				40,000,000				67,976				147,068,133				478,565				60,856,049				380,782				144,073,367				1,845,033				99,354,585				2,882,063				551,352,134				5,690,596
Accretion on convertible redeemable preferred shares to redemption value			—				1,057				—				2,006				—				13,580				—				10,823				—				51,072				—				85,527				—				164,065
Conversion of preferred shares to ordinary shares			(60,000,000	)			(37,234	)			(40,000,000	)			(69,982	)			(147,068,133	)			(492,145	)			(60,856,049	)			(391,605	)			(144,073,367	)			(1,896,105	)			(99,354,585	)			(2,967,590	)			(551,352,134	)			(5,854,661	)
Balance as of December 31, 2021			—				—				—				—				—				—				—				—				—				—				—				—				—				—

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- References

No definition available.

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- Definition

Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (27)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=122040564&loc=d3e177068-122764

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