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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

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

Summary of Share Based Compensation Expense Recognized Related To Share Options Granted And Ordinary Shares

​

​	​	​	​	​	​	​
​	​	Year ended December 31,
​	​	2021		2022		2023
​	​	RMB	​	RMB	​	RMB
Sales and marketing expenses	​	10,853		16,120		35,352
General and administrative expenses	​	190,252		80,448		85,335
Research and development expenses	​	25,056		15,458		13,182
​	​	226,161		112,026		133,869

Summary of Company's Share Options

​

​	​	​	​	​	​	​	​	​	​	​
​		​		​		Weighted		Weighted		​
​	​	​	​	Weighted	​	Average	​	Average	​	​
​	​	​	​	Average	​	remaining	​	Grant-	​	Aggregate
​	​	Number of	​	Exercise	​	contractual	​	date Fair	​	Intrinsic
​	​	Options	​	Price	​	life	​	Value	​	Value
​		​		RMB		RMB		RMB		RMB
Outstanding as of December 31, 2021	​	247,008,342		0.29		7.94		2.10		543,248
Granted		800,000		0.54		—		0.70		—
Exercised		(27,750,770)		0.39		—		1.20		—
Forfeited		(30,645,015)		0.31		—		3.52		—
Outstanding as of December 31, 2022		189,412,557		0.28		6.95		2.14		452,543
Granted		281,250		0.57		—		0.57		—
Exercised		(72,294,940)		0.14		—		1.52		—
Forfeited		(11,127,905)		0.46		—		4.11		—
Outstanding as of December 31, 2023		106,270,962		0.36		6.19		2.56		276,835
Exercisable as of December 31, 2023		82,741,404		0.33		5.92		2.03		172,009

Summary of Estimated Fair Value of Share Options

​

​	​	​	​	​	​	​	​
​		Year Ended			Year Ended
​	​	December 31		​	December 31		​
​	​	2022		​	2023
Risk free rate of interest		​	2.79%‑2.85	%	​	2.55%‑2.94	%
Volatility		​	27	%	​	28	%
Dividend yield		​	—		​	—	​
Exercise multiples		​	2.2		​	2.2	​
Life of options (years)		​	10		​	10	​
Fair value of underlying ordinary shares	​	$	0.13~$0.31	​	$	0.11~$0.29	​

Summary of the Restricted Share Units

​

​	​	​	​	​
​		​		Weighted Average
​	​	​	​	Grant-date
​	​	Number of RSUs	​	Fair Value
​		​		RMB
As of December 31, 2021		—		—
Granted		112,336,970		0.83
Vested		(10,141,620)		0.74
Forfeited or cancelled		(425,000)		0.75
Unvested as of December 31, 2022	​	101,770,350		0.84
Granted	​	69,910,980	​	1.41
Vested	​	(22,617,630)	​	0.91
Forfeited or cancelled	​	(44,548,350)	​	0.94
Unvested as of December 31, 2023		104,515,350		1.22

Summary of Non-vested Restricted Shares Activity

​

​	​	​
​		Number of shares
Outstanding as of December 31, 2020	​	12,554,722
Vested		12,554,722
Outstanding as of December 31, 2021		—

Share Option

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

Summary of Company's Share Options

​

​	​	​	​	​	​	​	​	​	​	​
​		​		​		Weighted		Weighted
​	​	​	​	Weighted	​	Average	​	Average	​	​
​	​	​	​	Average	​	remaining	​	Grant-	​	Aggregate
​	​	Number of	​	Exercise	​	contractual	​	date Fair	​	Intrinsic
​	​	Options	​	Price	​	life	​	Value	​	Value
​	​	​		RMB		RMB		RMB		RMB
Outstanding as of the acquisition date		450,246		15.90		7.68		24.81		7,162
Forfeited		(19,438)		23.57		—		21.41		—
Outstanding as of December 31, 2023		430,808		15.55		7.69		24.96		6,921
Exercisable as of December 31, 2023		187,200		16.28		7.16		21.12		2,165

Summary of Estimated Fair Value of Share Options

​

​	​	​	​
​		Year Ended December 31
​	​	2023
Risk free rate of interest		2.64%-3.01	%
Volatility		29.8%-44.2	%
Dividend yield		—	​
Exercise multiples		2.2-2.8	​
Life of options (years)		10	​
Fair value of underlying ordinary shares		13.37~36.29	​

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