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Share-based Payments (Tables)

12 Months Ended

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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Tabular disclosure of share-based payment arrangement.

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Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

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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.

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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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