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Share-based payments (Tables)

12 Months Ended

Dec. 31, 2018

Share-based payments

Schedule of assumptions used in determining the fair value of the share options

:

Assumptions		2017
Expected dividend yield		0%
Risk-free interest rate		1.96%
Expected volatility		61.0%
Expected life		5 years
Exercise multiples		2.80 times
Weighted average fair value of underlying ordinary shares (US$/share)		25.09

Schedule of share option movements

						Weighted				Weighted
				Weighted		average		Weighted		average
				average		remaining		average		intrinsic
				exercise		contractual		fair value		value		Aggregate
		Options		price per		years to expiry		at grant		per		intrinsic
		outstanding		share		per share		date		option		value
				US$				US$		US$		US$
As of January 1, 2016		2,436,871		1.33		5.89	years
Exercised		(560,930)		1.53		4.61	years
Forfeited		(3,000)		2.50		4.92	years
Outstanding as of December 31, 2016		1,872,941		0.78		4.97	years
Granted		1,320,000		68.35		4.00	years
Exercised		(454,708)		1.95		3.75	years
Outstanding as of December 31, 2017		2,738,233		33.50		4.14	years
Exercised		(356,736)		1.65		2.77	years
Outstanding as of December 31, 2018		2,381,497		26.61		3.05	years
Non-vested as of December 31, 2018		687,500
Options vested and expected to vest as of December 31, 2018		2,381,497		26.61		3.05	years	17.76		27.98		66,644,636
Exercisable as of December 31, 2018		1,693,997		18.21		3.07	years	9.58		36.39		61,644,292

Schedule of non-vested shares movement

		Non-vested shares
		outstanding
Outstanding as of January 1, 2016		2,094,709
Granted		1,815,919
Vested		(1,119,032)
Forfeited		(371,731)
Outstanding as of December 31, 2016		2,419,865
Granted		2,900,580
Vested		(925,623)
Forfeited		(464,564)
Outstanding as of December 31, 2017		3,930,258
Granted		1,102,576
Vested		(1,322,560)
Forfeited		(786,772)
Outstanding as of December 31, 2018		2,923,502

Schedule of share-based compensation expenses

		Year ended December 31,
		2016		2017		2018
		RMB		RMB		RMB
Fulfillment expenses		(38,428)		(73,235)		(73,151)
Marketing expenses		(38,459)		(40,364)		(41,063)
Technology and content expenses		(183,122)		(206,073)		(203,594)
General and administrative expenses		(215,644)		(347,426)		(353,402)
		(475,653)		(667,098)		(671,210)

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Tabular disclosure of the number and weighted-average grant date fair value of equity-based compensation awards that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of awards that were granted, exercised or converted, forfeited, and expired during the year.

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