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SHARE-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2017
SHARE-BASED COMPENSATION  
Summary of the option activity

                                                                                                                                                                                    

 

 

Number of
options

 

Weighted
average
exercise price

 

Weighted
average
grant-date
fair value
per option

 

 

 

 

 

(RMB)

 

(RMB)

 

Options outstanding at January 1, 2017

 

 

28,589,782

 

 

5.2

 

 

3.2

 

Granted

 

 

166,667

 

 

5.3

 

 

7.6

 

Exercised

 

 

(376,984

)

 

5.2

 

 

1.9

 

Forfeited

 

 

(19,000

)

 

5.2

 

 

1.9

 

​  

​  

Options outstanding at September 30, 2017

 

 

28,360,465

 

 

5.2

 

 

3.2

 

​  

​  

​  

​  

Options vested and expect to vest at September 30, 2017

 

 

28,360,465

 

 

5.2

 

 

3.2

 

​  

​  

​  

​  

 

Summary of information with respect to stock options outstanding and stock options exercisable

                                                                                                                                                                                    

 

 

Number of
options

 

Weighted
average
remaining
contractual
life

 

Weighted
average
exercise price

 

 

 

 

 

(years)

 

(RMB)

 

Options outstanding and exercisable

 

 

28,360,465

 

 

2.5

 

 

5.2

 

​  

​  

​  

​  

 

Summary of the restricted share activity

                                                                                                                                                                                    

 

 

Number of
Shares

 

Weighted
average
grant-date
fair value
per share

 

 

 

 

 

(RMB)

 

Unvested at January 1, 2017

 

 

12,910,080

 

 

6.0

 

Granted

 

 

13,871,860

 

 

5.2

 

Vested

 

 

(2,017,920

)

 

8.1

 

Forfeited

 

 

(186,800

)

 

7.2

 

​  

​  

Unvested at September 30, 2017

 

 

24,577,220

 

 

5.4

 

​  

​  

​  

​  

 

Assumptions used to estimate fair value of the restricted shares

                                                                                                                                                                                    

Grant date:

 

July 2017

Risk-free rate of return

 

1.29 - 1.63%

Volatility

 

20.43 - 21.48%

Expected dividend yield

 

Share price at grant date

 

US$1.191

 

 

(RMB8.0)

Expected term

 

2 - 4 years

 

 

 

 

Summary of share-based compensation expenses

                                                                                                                                                                                    

 

 

Nine-month
periods ended
September 30,

 

 

 

2016

 

2017

 

Costs of revenue

 

 

1,169

 

 

7,365

 

Selling and marketing expenses

 

 

5,159

 

 

12,779

 

General and administrative expenses

 

 

50,859

 

 

20,842

 

Research and development expenses

 

 

 

 

408

 

​  

​  

​  

​  

Total share-based compensation expenses

 

 

57,187

 

 

41,394

 

​  

​  

​  

​  

​  

​  

​  

​