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Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-based Compensation

Summary of share options activity

​

​	​	​	​	​	​	​	​	​	​	​
​		​		Weighted		Weighted		Weighted		​
​	​	​	​	average	​	average	​	average	​	​
​	​	​	​	exercise	​	grant date	​	remaining	​	Aggregate
​	​	Number of	​	price per	​	fair value per	​	contractual	​	intrinsic
​		shares		share		share		term		value
​	​	​	​	​	​	​	​	​	​	US$
Outstanding as of December 31, 2020		48,740,000		0.33		1.05		7.02		591,879
Granted		18,035,000		0.24		12.55
Exercised	​	(5,403,461)	​	0.14	​	0.68	​	​	​	​
Forfeited		(1,410,000)		0.31		7.21
Outstanding as of December 31, 2021		59,961,539		0.17		4.40		6.95		364,287
Granted	​	2,765,000	​	0.20	​	3.27	​	​	​	​
Exercised	​	(4,502,326)	​	0.20	​	2.09	​	​	​	​
Forfeited	​	(1,950,000)	​	0.47	​	7.69	​	​	​	​
Outstanding as of December 31, 2022	​	56,274,213	​	0.16	​	4.42	​	6.04	​	98,287
Granted	​	—	​	—	​	—	​	​	​	​
Exercised	​	(3,770,958)	​	0.31	​	3.54	​	​	​	​
Forfeited	​	(831,250)	​	0.36	​	7.16	​	​	​	​
Outstanding as of December 31, 2023	​	51,672,005	​	0.15	​	4.44	​	4.95	​	105,285

Summary of assumptions used to value the Company's options grants

​

​	​	​	​	​	​	​	​
​	​	As of December 31,
​		2021		2022		2023
Exercise price (US Dollar)		0.2~2.88		0.2	​	N/A	​
Exercise multiple		2.2~2.8		2.2~2.8	​	N/A	​
Risk-free interest rate		1.13%~1.79	%	1.92%~3.22	%	N/A	​
Expected term (in years)		10		10	​	N/A	​
Expected dividend yield		—		—	​	N/A	​
Expected volatility		50.40%~55.79	%	55.68%~55.78	%	N/A	​
Expected forfeiture rate (post-vesting)		2.96%~5.83	%	5.83%~7.70	%	N/A	​
Fair value of the underlying shares on the date of options grants (US Dollar)		6.25~20.91		2.24~5.46	​	N/A	​
Fair value of share option (US Dollar)		5.78~20.91		2.05~5.27	​	N/A	​

Summary of service - based RSUs activity

​

​	​	​	​	​
​	​	​		Weighted average grant
​		Number of shares		date fair value per share
Outstanding as of December 31, 2020		—		—
Granted		3,217,000		8.95
Forfeited		(167,000)		11.80
Outstanding as of December 31, 2021		3,050,000		8.80
Granted	​	10,205,500	​	2.58
Vested	​	(346,000)	​	6.68
Forfeited	​	(1,270,750)	​	7.80
Outstanding as of December 31, 2022	​	11,638,750	​	3.51
Granted	​	1,181,000	​	1.79
Vested	​	(2,276,875)	​	4.76
Forfeited	​	(1,219,750)	​	4.34
Outstanding as of December 31, 2023	​	9,323,125	​	2.88

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Tabular disclosure of share-based payment arrangement.

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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.

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