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SHARE BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2022

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Assumptions Used

The assumptions in the Black-Scholes option-pricing models used to determine the fair value of 2022 PRC stock options granted during the years ended December 31, 2022 were as follows:

​

​	​	​	​	​
​		Year Ended December 31, 2022
Expected term (months)		​	24, 36, and 48 months from the date of grant	​
Expected dividends		​	0.96	%
Expected volatility		​	51.86%-54.00	%
Risk-free interest rate		​	1.76%-2.18	%
Fair value of common stock		$	8.15	​
Weighted average exercise price		$	4.76	​

​

Summary of Stock Option Activity

A summary of the aggregate option activity and information regarding options outstanding as of December 31, 2022 is as follows:

​

​	​	​	​	​	​	​	​	​	​	​
​		​		Weighted		Weighted		Weighted	​	​
​	​	​	​	Average	​	Average	​	Average	​	Aggregate
​	​	Number of	​	Exercise	​	Remaining	​	Grant Date	​	Intrinsic
​		Options		Price		Contract Life		Fair Value		Value
Options outstanding on January 1, 2022		1,775,417	​	0.59	​	2.74	​	0.73	​	13,261
Granted		—	​	—	​	—	​	—	​	—
Forfeited		—	​	—	​	—	​	—	​	—
Expired		—	​	—	​	—	​	—	​	—
Exercised		(1,672,350)	​	0.59	​	—	​	0.74	​	19,410
Options outstanding on December 31, 2022		103,067	​	0.59	​	2.08	​	0.58	​	735
Options exercisable on December 31, 2022		103,067	​	0.59	​	2.08	​	0.58	​	735

​

Schedule of Nonvested Restricted Stock Units Activity

A summary of the non-vested RSU activity in 2022 is as follows:

​

​	​	​	​	​	​
​		​		Weighted
​	​	​	​	Average
​	​	Number of		Grant Date
​	​	RSUs		Fair Value
Non-vested RSUs on January 1, 2022		10,289,352	​	​	1.38
Granted		37,253,465	​	​	14.14
Vested		(26,770,640)	​	​	11.01
Forfeited		(14,000)	​	​	1.61
Non-vested RSUs on December 31, 2022		20,758,177	​	​	11.86

​

2022 Restricted Stock Incentive Plan

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Stock Option Activity

A summary of the aggregate 2022 PRC stock options activity and information regarding those stock options outstanding as of December 31, 2022 is as follows:

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	Weighted	​	Weighted	​	Weighted	​
​	​	​	​	Average	​	Average	​	Average	​	Aggregate
​	​	Number of	​	Exercise	​	Remaining	​	Grant Date	​	Intrinsic
​		2022 PRC stock options		Price		Contract Life		Fair Value		Value
2022 PRC stock options outstanding on January 1, 2022		—		—		—		—		—
Granted		23,660,000		4.76		—		3.94		—
Forfeited		(100,000)		4.76		—		3.94		—
Expired		—		—		—		—		—
Exercised		—		—		—		—		—
2022 PRC stock options outstanding on December 31, 2022		23,560,000		4.76		2.59		3.94		50,143
2022 PRC stock options exercisable on December 31, 2022		23,560,000		4.76		2.59		3.94		50,143

​

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

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