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SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased 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,
		2018				2019				2020
		RMB				RMB				RMB
Origination and servicing			2,516				10,345				3,167
General and administrative			29,734				80,599				8,870
Research and development			22,820				48,578				10,170
Sales and marketing			12,708				8,060				8,445
Total			67,778				147,582				30,652

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, 2019 and 2020 at the date of grant:

		October 2018				November 2019				November 2020
Average risk-free rate of interest		3.32%				1.57%-1.69%				0.23%-0.60%
Estimated volatility rate		44.32%				42.86%-45.28%				49.74%-53.91%
Exercise multiples			2.8				2.8				2.8
Dividend yield		0.00%				0.00%				0.00%
Time to maturity		4.5 years				0-3 years				0-3 years
Fair value per underlying ordinary share		RMB 88.13				RMB 53.43				RMB 18.33

Summary of aggregate option activities

The summary of the aggregate option activities and information regarding options outstanding for the years ended as of December 31, 2019 and 2020 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, 2019			5,699				3.5				2.51				189,093
Granted			1,583
Exercised			(1,981	)
Forfeited			(921	)
Options outstanding at December 31, 2020			4,380				3.5				2.63				118,421
Options exercisable at December 31, 2020			2,369			3.5					2.20				56,756
Options vested or expected to be vested at    December 31, 2020			4,380			3.5					2.63				118,421

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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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