XML 67 R45.htm IDEA: XBRL DOCUMENT v3.22.1
Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Company's Employee Share Option Activity
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
 
Outstanding, January 1, 2021
      511,790         63.83         41.10          7.54         18,910  
Granted
     385,120        47.06        23.00                    
Exercised
     (123,811 )      45.35                             
Forfeited
     (230,271 )      79.60                             
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Outstanding, December 31, 2021
     542,828        51.33        25.80        8.88        206  
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Vested and expected to vest at December 31, 2021
     517,519        49.68        25.98        8.87        206  
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Exercisable as of December 31, 2021
     104,324        50.03        35.69        6.76        206  
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
 
Schedule of Restricted Shares Activity
Restricted shares activity for the year ended December 31, 2021 was as follows:
 
    
Number of
shares
    
Weighted
average grant
date fair value
 
Outstanding, January 1, 2021
      853,331                79.88  
Granted
     1,028,741        50.79  
Vested
     (348,696 )      74.17  
Forfeited
     (243,217 )      79.67  
    
 
 
    
 
 
 
Outstanding, December 31, 2021
     1,290,159        55.34  
    
 
 
    
 
 
 
Expected to vest, December 31, 2021
     1,011,422        54.83  
    
 
 
    
 
 
 
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:
 
    
2019
    
2020
    
2021
 
Fair value of ordinary share
   US$ 87.39      US$
77.32-US$94.46
    
US$
31.06-US$119.82  
Risk-free interest rates
     1.96%       
0.62%-1.92%
       1.09%-1.62%  
Expected exercise multiple
     2.2       
2.2-2.8
       2.2-2.8  
Expected volatility
     53%       
52%-53%
       51%-52%  
Expected dividend yield
     0.00%        1.00%        1.00%  
Weighted average fair value per option
granted
   US$ 45.26     
US$
US$ 
30.00 -
  44.69
      
US$
10.51-US$60.83  
Schedule of Share-Based Compensation Expenses
Share-based compensation expenses relating to options and restricted shares granted to employees recognized for the years ended December 31, 2019, 2020 and 2021 is as follows:
 
    
Year ended December 31,
 
    
2019
    
2020
    
2021
 
    
RMB
    
RMB
    
RMB
    
US$
 
Cost of revenues
     15,508        21,372         23,142         3,631  
Sales and marketing expenses
     46,081        40,103        46,823        7,348  
General and administrative expenses
     62,884        55,868        48,803        7,658  
Product development expenses
     79,535        93,863        87,292        13,698  
    
 
 
    
 
 
    
 
 
    
 
 
 
       204,008        211,206        206,060        32,335