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SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of share-based compensation expenses

The following table presents the classification of the Company’s share-based compensation expenses:

		Year ended December 31,
		2017				2018				2019
		RMB				RMB				RMB
Origination and servicing			1,620				2,516				10,345
General and administrative			24,326				29,734				80,599
Research and development			28,619				22,820				48,578
Sales and marketing			34,831				12,708				8,060
Total			89,396				67,778				147,582

Summary of assumptions to estimate fair value of options at date of grant

The following assumptions were applied to estimate the fair value of the options granted in 2016, 2018 and 2019 at the date of grant:

		September 2016		October 2018		November 2019
Average risk-free rate of interest		2.54%		3.32%		1.57%-1.69%
Estimated volatility rate		50.46%		44.32%		42.86%-45.28%
Dividend yield		0.00%		0.00%		0.00%
Time to maturity		4.5 years		4.5 years		0-3 years
Fair value per underlying ordinary share		RMB 21.38		RMB 88.13		RMB 53.43

Summary of aggregate option activity

The summary of the aggregate option activity and information regarding options outstanding as of December 31, 2019 is as follows:

		Number of Options (in ‘000s)				Weighted Average Exercise Price				Weighted Average Remaining Contract Life				Aggregate Intrinsic Value
						RMB				Years				RMB
Options outstanding at December 31, 2018			11,437				3.5				3.55				357,993
Options granted in 2019			288
Options forfeited in 2019			(2,480	)
Options cancelled in 2019			(3,546	)
Options outstanding at December 31, 2019			5,699				3.5				2.51				189,093
Options exercisable at December 31, 2019			1,674				3.5				2.51				49,567
Options vested or expected to be vested at December 31, 2019			5,699				3.5				2.51				189,093

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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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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