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Net Income (Loss) per Share

12 Months Ended

Dec. 31, 2021

Net Income (Loss) per Share

Net Income (Loss) per Share

3. Net Income (Loss) per Share

The following table sets forth the computation of basic and diluted net income (loss) per share attributable to ordinary shareholders:

​

​	​	​	​	​	​	​
​	​	Years Ended December 31,
​	​	(Amount in Thousands, Except Share and Per Share Data)
​		2019		2020		2021
​	​	Class A and Class B	​	Class A and Class B	​	Class A and Class B
Net income (loss) attributable to Class A and Class B ordinary shareholders—basic		829,151		(745,225)		1,314,131
Plus: interest expense for convertible notes		679		—		—
Net income (loss) attributable to Class A and Class B ordinary shareholders—diluted		829,830		(745,225)		1,314,131
Weighted average number of Class A and Class B ordinary shares outstanding—basic		30,580,181		31,020,439		33,585,818
Plus: share options and non-vested restricted shares		281,191		—		195,955
Plus: shares outstanding for convertible notes		62,723		—		—
Weighted average number of Class A and Class B ordinary shares outstanding—diluted		30,924,095		31,020,439		33,781,773
Basic net income (loss) per share		27.12		(24.02)		39.12
Diluted net income (loss) per share		26.84		(24.02)		38.90

​

In January 2016, the Company’s shareholders voted in favor of a proposal to adopt a dual-class share structure, pursuant to which authorized share capital was reclassified and re-designated into Class A ordinary shares and Class B ordinary shares, with each Class A ordinary share being entitled to one vote and each Class B ordinary share being entitled to four votes on all matters that are subject to shareholder vote. As economic rights and obligations are applied equally to both Class A and Class B ordinary shares, earnings are allocated between the two classes of ordinary shares evenly with the same allocation on a per share basis.

Shares issuable to the investors of Camsing Incident (as defined in Note 15) are included in the computation of basic earnings per share as the shares will be issued for no cash consideration and all necessary conditions have been satisfied upon the settlement.

Diluted net income (loss) per share does not include the following instruments as their inclusion would be antidilutive:

​

​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2019		2020		2021
Share options		72,929	​	224,528		281,566
Non-vested restricted shares under share incentive plan		91,550	​	103,373		41,255
Total		164,479	​	327,901		322,821

​

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- References

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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