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SHARE-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2020
SHARE-BASED COMPENSATION  
Summary of the option activity

    

    

    

Weighted

average

Weighted

grant-date

Number

average

fair value

    

of options 

    

exercise price 

    

per option 

 

  

 

(RMB)

 

(RMB)

Options outstanding at January 1, 2018

 

28,087,236

 

5.1

 

3.2

Granted

 

500,000

 

5.0

 

31.2

Exercised

(3,614,464)

 

5.2

 

4.5

Forfeited

(193,340)

5.0

6.2

Options outstanding at December 31, 2018

 

24,779,432

 

5.3

 

2.2

Granted

 

 

 

Exercised

(10,150,336)

5.6

3.5

Forfeited

 

 

 

Options outstanding at December 31, 2019

 

14,629,096

 

5.4

 

1.7

Granted

Exercised

(14,222,096)

5.5

1.6

Forfeited

Options outstanding at December 31, 2020

407,000

5.1

1.6

Options vested and expected to be vested at December 31, 2020

 

407,000

 

5.1

1.6

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

Weighted

average

Weighted

Number

 

remaining

 

average

    

of shares 

    

contractual life 

    

exercise price 

 

(years)

 

(RMB)

Options outstanding and exercisable

407,000

0.3

5.1

Summary of the restricted share activity

Weighted average grant-

Number of

date fair value per share

    

Shares

    

(RMB)

 

Unvested at January 1, 2018

24,525,620

5.3

Granted

13,202,512

14.5

Vested

(7,326,620)

6.0

Forfeited

(891,008)

5.9

Unvested at December 31, 2018

 

29,510,504

9.3

Granted

 

14,551,472

34.2

Vested

 

(9,122,432)

9.3

Forfeited

 

(1,582,248)

10.7

Unvested at December 31, 2019

33,357,296

22.4

Granted

11,710,848

66.7

Vested

(12,684,640)

14.1

Forfeited

(1,364,736)

25.1

Unvested at December 31, 2020

 

31,018,768

42.4

Assumptions used to estimate fair value of restricted shares granted

Grant date:

    

August 2018

    

August 2019

    

August 2020

Risk-free rate of return

 

2.047% - 2.418

%

1.67% - 1.88

%

0.14% - 0.19

%

Volatility

 

71.85

%

63.22

%

59.23

%

Expected dividend yield

 

0.00

%

0.00

%

0.00

%

Share price at grant date

 

US$3.125

US$5.02375

US$10.1475

 

(RMB21.3)

(RMB34.6)

(RMB70.5)

Expected term

 

13 years

13 years

13 years

Summary of share-based compensation expenses

Years ended December 31, 

    

2018

    

2019

    

2020

Costs of revenue

 

18,008

 

46,007

89,943

Selling and marketing expenses

 

25,213

 

39,436

54,204

General and administrative expenses

 

61,707

 

101,949

184,943

Research and development expenses

949

2,364

4,596

Total share-based compensation expenses

 

105,877

 

189,756

333,686