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Share Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Assumptions Used to Determine the Fair Value of Stock Options Under Binomial Option Pricing Model

In determining the fair value of the stock options, the binomial option pricing model was applied. The key assumptions used to determine the fair value of the options at the respective grant dates in 2021, 2022 and 2023 were as follows:

		For the years ended December 31,
		2021		2022		2023
Expected volatility		48.47%~48.70%		47.80%~48.20%		49.00%~51.00%
Risk-free interest rate (per annum)		1.35%~1.62%		1.51%~2.94%		2.40%~2.97%
Exercise multiples		2.2~2.8		2.2~2.8		2.2~2.8
Expected dividend yield		0.00%		0.00%		0.00%
Fair value of underlying ordinary shares		RMB40.61~RMB109.73		RMB19.43~RMB62.05		RMB18.80~RMB32.19
Fair value of share option		RMB39.98~RMB109.10		RMB18.39~RMB61.01		RMB18.10~RMB31.48

Summary of Share Option Activities

The following table summarized the Group’s share option activities under the Option Plans for the year ended December 31, 2023:

		Number of options				Weighted average exercise price per share				Weighted average grant date fair value per share				Weighted average remaining contractual life				Aggregate intrinsic value
						RMB				RMB				Years				RMB
Outstanding as of December 31, 2022			16,960,117				0.64				28.73				6.66				305,280
Granted			836,164			0.70					25.45
Forfeited			(266,409	)		0.63					42.53
Exercised			(3,648,341	)		0.70					27.78
Outstanding as of December 31, 2023			13,881,531				0.70				31.64				5.90				271,092
Vested and expect to vest as of December 31, 2023			13,881,531			0.70					31.64
Exercisable at December 31, 2023			9,532,499				0.70				27.59				5.14				186,160

Summary of Restricted Stock Option Activities

		Number of RSU				Weighted average grant-date fair value				Weighted average remaining contractual life
						RMB				Years
Outstanding as of December 31, 2022			50,000				33.81				2.17
Granted			—				—				—
Vested			(20,000	)			61.24			—
Outstanding as of December 31, 2023			30,000				20.53				1.77

16.Share based compensation—(Continued)

Restricted share units—(Continued)

Schedule of Share Based Compensation Expense

		Years ended December 31,
		2021				2022				2023
		RMB				RMB				RMB
Fulfillment expenses			59,583				44,408				23,390
Selling and marketing expenses			38,463				36,104				17,240
General and administrative expenses			316,911				71,696				73,156
Technology and content expenses			36,595				22,028				20,616

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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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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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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