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SHARE-BASED COMPENSATION (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2014
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]    
Summary of Company's Employee Share Option Activity
     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$  
           (Unaudited)      (Unaudited)      (Unaudited)      (Unaudited)  

Outstanding, January 1, 2014

     7,665,500        2.20         2.65         7.74         263,617   

Granted

     177,600        2.20         34.57         

Exercised

     (2,888,363     2.20            

Forfeited

     (35,000     2.20            
  

 

 

            

Outstanding, September 30, 2014

     4,919,737        2.20         3.76         7.19         195,855   
  

 

 

            

Vested and expected to vest at

September 30, 2014

     4,806,777        2.20         3.72         7.18         191,358   
  

 

 

            

Exercisable as of September 30, 2014

     2,200,537        2.20         2.51         6.86         87,603   
  

 

 

            

The following table summarizes the Company’s employee share option activity under the share option plans:

 

     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, January 1, 2013

     7,675,000        2.20         2.38         8.54         11,513   

Granted on May 27, 2013

     560,000        2.20         3.03         

Granted on October 22, 2013

     228,000        2.20         9.63/9.69         

Exercised

     —          —           —           

Forfeited

     (797,500     2.20            
  

 

 

            

Outstanding, December 31, 2013

     7,665,500        2.20         2.65         7.74         263,617   
  

 

 

            

Vested or expected to vest at December 31, 2013

     7,620,600        2.20         2.64         7.73         262,072   
  

 

 

            

Exercisable as of December 31, 2013

     3,330,000        2.20         2.38         7.47         114,519   
  

 

 

            
Schedule of Restricted Shares Activity

Restricted shares activity for the period ended September 30, 2014 was as follows

 

     Numbers
of shares
    Weighted average
grant date fair value
 
           US$  
           (Unaudited)  

Unvested, January 1, 2014

     400,000        12.38   

Granted

     100,000        29.00   

Vested

     (100,000     41.65   
  

 

 

   

 

 

 

Unvested, September 30, 2014

     400,000        16.54   
  

 

 

   

 

 

 

 

Restricted shares activity for the year ended December 31, 2013 was as follows:

 

     Numbers
of shares
     Weighted average grant
date fair value
 
            US$  

Outstanding, January 1, 2013

     —           —     

Granted

     400,000         12.38   

Vested

     —        

Forfeited

     —        
  

 

 

    

 

 

 

Outstanding, December 31, 2013

     400,000         12.38   
  

 

 

    

 

 

 

Expected to vest, December 31, 2013

     400,000         12.38   
  

 

 

    

 

 

 
Schedule of Estimated Fair Value of Share-Based Awards on Respective Grant Dates using Binomial Option Pricing Model  

The Company calculated the estimated fair value of the share-based awards on the respective grant dates using the binomial option pricing model with the following assumptions:

 

     6 May,
2011
    1 Aug,
2011
    8 Oct,
2011
    19 Dec,
2011
    1 Jul,
2012
    27 May,
2013
    22 Oct,
2013
 

Fair value of ordinary share

     US$3.69        US$3.44        US$3.68        US$3.68        US$3.70        US$4.58        US$11.64   

Risk-free interest rates

     3.27     2.90     2.14     1.89     1.73     2.07     2.60

Expected exercise multiple

     2.2        2.2        2.2        2.2        2.2        2.2        2.2   

Expected volatility

     61.90     60.50     60.70     60.80     60.40     55.49     53.70

Expected dividend yield

     0.00     0.00     0.00     0.00     0.00     0.00     0.00

Weighted average fair value per option granted

  

 

US$2.40

  

 

 

US$2.18

  

 

 

US$2.37

  

 

 

US$2.41

  

 

 

US$2.36

  

 

 

US$3.03

  

 

 
 

US$9.63/
US$9.69

  
  

Schedule of Share-Based Compensation Expenses

Compensation expense recorded relating to options granted to employees recognized for nine months ended September 30, 2013 and 2014 is as follows:

 

     For the nine months ended September 30,  
     2013      2014  
     RMB      RMB      US$  
     (Unaudited)      (Unaudited)      (Unaudited)  

Cost of revenues

     4,887         5,752         937   

Sales and marketing expenses

     3,236         8,212         1,338   

General and administration expenses

     6,795         15,437         2,515   

Product development expenses

     2,166         8,455         1,377   
  

 

 

    

 

 

    

 

 

 
     17,084         37,856         6,167   
  

 

 

    

 

 

    

 

 

 

Share-based compensation expenses recorded in continuing operations relating to options granted to employees recognized for the year ended December 31, 2013 is as follows:

 

     Year ended December 31,  
     2011      2012      2013  
     RMB      RMB      RMB      US$  

Cost of revenues

     3,247         6,553         6,534         1,079   

Sales and marketing expenses

     1,138         4,177         4,375         723   

General and administration expenses

     8,049         15,734         11,738         1,939   

Product development expenses

     541         2,678         2,961         489   
  

 

 

    

 

 

    

 

 

    

 

 

 
     12,975         29,142         25,608         4,230