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SHARE-BASED COMPENSATION (Tables) | 12 Months Ended
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Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of share options activity | The following table sets forth the share options activities for the year ended December 31, 2019, the three months ended March 31,2020, the fiscal years ended March 31, 2021 and 2022:
|  | Number of shares |  |  | Weighted-average exercise price |  |  | Weighted average remaining contractual term |  |  | Aggregate intrinsic value |  |  | Weighted average fair value of options |
|  |  |  |  | US$ |  |  | YEARS |  |  | US$’000 |  |  | US$ |
Outstanding as of December 31, 2018 |  |  | 55,195,000 |  |  |  | 1.85 |  |  |  | 7.74 |  |  |  | 27,773.18 |  |  |  | 2.03 |
Granted |  |  | 4,247,500 |  |  |  | 1.36 |  |  |  | — |  |  |  | — |  |  |  | 0.02 |
Forfeited |  |  | (11,454,468 | ) |  |  | 2.36 |  |  |  | — |  |  |  | — |  |  |  | 2.65 |
Exercised |  |  | (6,772,504 | ) |  |  | 0.03 |  |  |  | — |  |  |  | — |  |  |  | 0.54 |
Modified |  |  | (5,873,482 | ) |  |  | 2.82 |  |  |  | — |  |  |  | — |  |  |  | 2.95 |
Outstanding as of December 31, 2019 |  |  | 35,342,046 |  |  |  | 1.81 |  |  |  | 8.33 |  |  |  | 31,391.17 |  |  |  | 1.72 |
Granted |  |  | 2,175,300 |  |  |  | 0.03 |  |  |  | — |  |  |  | — |  |  |  | 0.49 |
Forfeited |  |  | (5,186,508 | ) |  |  | 1.14 |  |  |  | — |  |  |  | — |  |  |  | 2.09 |
Outstanding as of March 31, 2020 |  |  | 32,330,838 |  |  |  | 1.79 |  |  |  | 6.81 |  |  |  | 25,530.99 |  |  |  | 1.58 |
Granted |  |  | 6,700,665 |  |  |  | 0.01 |  |  |  | — |  |  |  | — |  |  |  | 0.39 |
Forfeited |  |  | (9,794,727 | ) |  |  | 1.17 |  |  |  | — |  |  |  | — |  |  |  | 2.13 |
Exercised |  |  | (3,482,103 | ) |  |  | 0.08 |  |  |  | — |  |  |  | — |  |  |  | 0.59 |
Outstanding as of March 31, 2021 |  |  | 25,754,673 |  |  |  | 1.79 |  |  |  | 6.18 |  |  |  | 3,974.57 |  |  |  | 1.20 |
Granted |  |  | 1,266,357 |  |  |  | 0.01 |  |  |  | — |  |  |  | — |  |  |  | 0.57 |
Forfeited |  |  | (1,681,323 | ) |  |  | 1.34 |  |  |  | — |  |  |  | — |  |  |  | 2.58 |
Exercised |  |  | (6,826,300 | ) |  |  | 0.36 |  |  |  | — |  |  |  | — |  |  |  | 0.67 |
Outstanding as of March 31, 2022 |  |  | 18,513,407 |  |  |  | 0.75 |  |  |  | 6.01 |  |  |  | 2,405.17 |  |  |  | 1.23 |
Vested and expected to vest as of March 31, 2022 |  |  | 18,513,407 |  |  |  | 0.75 |  |  |  | 6.01 |  |  |  | 2,405.17 |  |  |  | 1.23 |
Exercisable as of March 31, 2022 |  |  | 17,375,277 |  |  |  | 0.56 |  |  |  | 5.93 |  |  |  | 2,282.78 |  |  |  | 1.26 |
Schedule of options granted to Grantees were measured at fair value on the dates of grant | Options granted to Grantees were measured at fair value on the dates of grant using the Binomial Option Pricing Model with the following assumptions:
|  | For the year ended December 31, |  |  | For the three months ended March 31, |  |  | For the fiscal year ended March 31, |  |  | For the fiscal year ended March 31, |
|  | 2019 |  |  | 2020 |  |  | 2021 |  |  | 2022 |
Expected volatility |  | 44%~45% |  |  | 46%~49% |  |  | 48%~61% |  |  | 34%~68% |
Risk-free interest rate (per annum) |  | 1.6%~1.9% |  |  | 0.3%~0.7% |  |  | 0%~1.4% |  |  | 0%~2.4% |
Exercise multiple |  | 2.8/2.2 |  |  | 2.8/2.2 |  |  | 2.8/2.2 |  |  | 2.8/2.2 |
Expected dividend yield |  |  | 0 | % |  |  | 0 | % |  |  | 0 | % |  |  | 0 | %
Contractual term (in years) |  |  | 10 |  |  |  | 10 |  |  |  | 10 |  |  |  | 10 |
Summary of restricted shares activity | The following table sets forth the restricted shares activity for the year ended December 31, 2019, the three months ended March 31, 2020, the fiscal years ended March 31, 2021 and 2022:
|  | Number of shares |  |  | Weighted average grant date fair value |
|  |  |  |  | US$ |
Unvested as of December 31, 2018 |  |  | 133,334 |  |  |  | 2.26 |
Granted |  |  | 151,655 |  |  |  | 1.41 |
Vested |  |  | (184,988 | ) |  |  | 0.75 |
Forfeited |  |  | (66,667 | ) |  |  | 2.26 |
Unvested as of December 31, 2019 |  |  | 33,334 |  |  |  | 2.26 |
Granted |  |  | 50,066 |  |  |  | 0.51 |
Vested |  |  | (50,066 | ) |  |  | 0.51 |
Unvested as of March 31, 2020 |  |  | 33,334 |  |  |  | 2.26 |
Granted |  |  | 275,850 |  |  |  | 0.45 |
Vested |  |  | (309,184 | ) |  |  | 0.65 |
Unvested as of March 31, 2021 |  |  | — |  |  |  | — |
Granted |  |  | 606,570 |  |  |  | 0.42 |
Vested |  |  | (606,570 | ) |  |  | 0.42 |
Unvested as of March 31, 2022 |  |  | — |  |  |  | — |
Summary of Share-Based Compensation Expenses by Function | The following table sets forth the amounts of share-based compensation expenses continuing operations included in each of the relevant financial statement line items:
|  | For the year ended December 31, |  |  | For the three months ended March 31, |  |  | For the fiscal year ended March 31, |  |  | For the fiscal year ended March 31, |
|  | 2019 |  |  | 2020 |  |  | 2021 |  |  | 2022 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |
Cost of revenues |  |  | — |  |  |  | — |  |  |  | 2,149 |  |  |  | — |
Sales and marketing expenses |  |  | — |  |  |  | — |  |  |  | 5,036 |  |  |  | — |
Research and development expenses |  |  | 194 |  |  |  | (2,158 | ) |  |  | (2,216 | ) |  |  | — |
General and administrative expenses |  |  | 84,265 |  |  |  | (29,925 | ) |  |  | (24,091 | ) |  |  | 26,534 |
Total |  |  | 84,459 |  |  |  | (32,083 | ) |  |  | (19,122 | ) |  |  | 26,534 |
Performance Awards |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of options granted to Grantees were measured at fair value on the dates of grant | The fair value of Performance Awards with market conditions granted was determined using a Monte Carlo model with the following assumptions:
|  | For the fiscal year ended March 31, |
|  | 2022 |
Risk-free interest rate |  |  | 1.12 | %
Expected volatility |  |  | 46 | %
Expected dividend yield |  |  | 0 | %

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