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Share-based Payments (Tables) | 12 Months Ended
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Dec. 31, 2021
Share-based Payment Arrangement [Abstract] |
Summary of the Activity Under the Share Option Scheme | A summary of the activity under the Share Option Scheme is stated below:
|  | Number of options |  |  | Weighted- average exercise price |  |  | Weighted- average grant-date fair value |  |  | Weighted- average remaining contractual term |  |  | Aggregate intrinsic value |
|  |  |  |  | US$ |  |  | US$ |  |  | Years |  |  | US$ |
Outstanding, December 31, 2020 |  |  | 86,759,375 |  |  |  | 0.07 |  |  |  | 0.54 |  |  |  | 7.12 |  |  |  | 2.83 |
Granted |  |  | 12,292,710 |  |  |  | 0.07 |  |  |  | 2.80 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (7,384,942 | ) |  |  | 0.07 |  |  |  | 1.38 |  |  |  |  |  |  |  |  |
Exercised |  |  | (29,906,941 | ) |  |  | 0.07 |  |  |  | 0.71 |  |  |  |  |  |  |  |  |
Outstanding, December 31, 2021 |  |  | 61,760,202 |  |  |  | 0.07 |  |  |  | 0.87 |  |  |  | 6.61 |  |  |  | 0.98 |
Vested and expected to vest at December 31, 2021 |  |  | 61,760,202 |  |  |  | 0.07 |  |  |  | 0.87 |  |  |  | 6.61 |  |  |  | 0.98 |
Exercisable at December 31, 2021 |  |  | 28,437,976 |  |  |  | 0.07 |  |  |  | 0.46 |  |  |  | 5.22 |  |  |  | 0.98 |
Summary of the Activity for the Restricted Shares Issued Under the Share Award Scheme | A summary of the activity for the restricted shares issued under the Share Award Scheme is stated below:
|  | Number of shares |  |  | Weighted-average grant date fair value |
|  |  |  |  | US$ |
Outstanding, December 31, 2020 |  |  | 53,602,560 |  |  |  | 0.76 |
Granted |  |  | 29,076,828 |  |  |  | 2.04 |
Vested |  |  | (19,020,640 | ) |  |  | 0.71 |
Forfeited |  |  | (5,671,482 | ) |  |  | 1.61 |
Outstanding, December 31, 2021 |  |  | 57,987,266 |  |  |  | 1.32 |
Expected to vest at December 31, 2021 |  |  | 57,987,266 |  |  |  | 1.32 |
Summary of the Activity for the Restricted Shares Issued Under the Share Award Scheme | A summary of the activity for the options issued under the Share Award Scheme is stated below:
|  | Number of options |  |  | Weighted- average exercise price |  |  | Weighted- average grant- date fair value |  |  | Weighted- average remaining contractual term |  |  | Aggregate intrinsic value |
|  |  |  |  | US$ |  |  | US$ |  |  | Years |  |  | US$ |
Outstanding, December 31, 2020 |  |  | 37,191,840 |  |  |  | 0.82 |  |  |  | 0.31 |  |  |  | 9.00 |  |  |  | 2.09 |
Exercised |  |  | (8,081,820 | ) |  |  | 0.64 |  |  |  | 0.33 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (1,241,600 | ) |  |  | 0.87 |  |  |  | 0.30 |  |  |  |  |  |  |  |  |
Outstanding, December 31, 2021 |  |  | 27,868,420 |  |  |  | 0.83 |  |  |  | 0.31 |  |  |  | 7.99 |  |  |  | 0.22 |
Vested and expected to vest at December 31, 2021 |  |  | 27,868,420 |  |  |  | 0.83 |  |  |  | 0.31 |  |  |  | 7.99 |  |  |  | 0.22 |
Exercisable at December 31, 2021 |  |  | 12,566,340 |  |  |  | 0.80 |  |  |  | 0.30 |  |  |  | 8.00 |  |  |  | 0.25 |
Summary of Assumptions Used To Estimate the Fair Value of the Share Options | The estimated fair values of the ordinary shares, at the share award grant dates, was determined with the assistance from an independent third-party valuation firm. The assumptions used to estimate the fair value of the share options granted are as follows:
|  | For the year ended December 31
|  | 2019 |  | 2020 |  | 2021
Risk-free rate |  | 1.58%-1.80% |  | 0.66%-1.84% |  | 1.13%-1.62%
Expected volatility range |  | 37.40%-37.90% |  | 37.3%-37.8% |  | 36.28%-38.03%
Exercise multiple |  | 2.20-2.80 |  | 2.20-2.80 |  | 2.20-2.80
Fair market value per ordinary share as at valuation dates |  | US$0.72-US$0.76 |  | US$0.76-US$1.94 |  | US$1.97-US$3.49
Summary of acquisition date fair value of each share-based award is estimated | The acquisition date fair value of each Camelot award is estimated on the date of modification using the binomial tree option pricing model with the following assumptions:
|  | 2021 |
Risk-free rate |  |  | 0.21 | %
Expected volatility range |  |  | 50.56 | %
Exercise multiple |  |  | 2.20 |
Fair market value per Camelot’s ordinary share |  |  | RMB23.00 |
Summary of Share-based Compensation Expense | The following table sets forth the amount of share-based compensation expense included in each of the relevant financial statement line items:
|  | For the year ended December 31 |
|  | 2019 |  |  | 2020 |  |  | 2021 |  |  | 2021 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | US$ |
Cost of revenues |  |  | 8,509 |  |  |  | 10,614 |  |  |  | 17,481 |  |  |  | 2,743 |
Selling and marketing expenses |  |  | 37,808 |  |  |  | 62,270 |  |  |  | 72,594 |  |  |  | 11,392 |
General and administrative expenses |  |  | 31,988 |  |  |  | 169,101 |  |  |  | 193,886 |  |  |  | 30,425 |
Research and development expenses |  |  | 42,974 |  |  |  | 88,129 |  |  |  | 150,389 |  |  |  | 23,599 |
|  |  | 121,279 |  |  |  | 330,114 |  |  |  | 434,350 |  |  |  | 68,159 |

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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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