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Share-based compensation (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-based compensation |
Schedule of share-based compensation recognized in operating expenses | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended
​ | ​ | December 31,
​ |  | 2021 |  | 2022 |  | 2023
​ | ​ | RMB | ​ | RMB | ​ | RMB
Fulfillment |  | 2,154 |  | 585 |  | 195
Sales and marketing |  | 8,204 |  | 5,935 |  | 4,682
Research and development |  | 10,134 |  | 3,883 |  | 3,070
General and administrative |  | 162,857 |  | 21,496 |  | 9,446
Total share-based compensation expenses |  | 183,349 |  | 31,899 |  | 17,393
Schedule of changes in share options relating to ordinary shares granted | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted-average | ​ | Weighted-average
​ | ​ | Options granted | ​ | exercise | ​ | grant date fair
​ |  | share number |  | price (US$) |  | value (US$)
Outstanding as of January 1, 2021 |  | 189,927,968 |  | 0.0205 |  | 0.1136
Granted |  | 18,200,000 |  | 0.1079 |  | 0.1177
Cancelled/Forfeited | ​ | (9,163,845) | ​ | 0.0993 | ​ | 0.1201
Outstanding as of December 31, 2021 |  | 198,964,123 |  | 0.0227 |  | 0.1137
Granted |  | 56,222,658 |  | 0.0861 |  | 0.1417
Cancelled/Forfeited |  | (72,438,216) |  | 0.0520 |  | 0.1080
Outstanding as of December 31, 2022 |  | 182,748,565 |  | 0.0306 |  | 0.1245
Granted |  | 80,907,443 |  | 0.1306 |  | 0.3169
Cancelled/Forfeited |  | (14,700,489) |  | 0.0579 |  | 0.1580
Outstanding as of December 31, 2023 |  | 248,955,519 |  | 0.0615 |  | 0.1851
Schedule of information regarding share options outstanding | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, 2022
​ | ​ | ​ | ​ | ​ | ​ | Weighted-average | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | remaining | ​ | ​
​ | ​ | ​ | ​ | Weighted-average | ​ | exercise | ​ | ​
​ | ​ | Options | ​ | exercise price | ​ | contractual | ​ | Aggregate
​ |  | number |  | per option |  | life (years) |  | intrinsic value
​ | ​ | ​ | ​ | US$ | ​ | ​ | ​ | US$ in thousands
Options outstanding |  | 182,748,565 |  | 0.03 |  | 7.91 |  | 47,615
Exercisable |  | 120,164,340 |  | 0.01 |  | 7.32 |  | 34,611
Expected to vest |  | 62,584,225 |  | 0.08 |  | 9.04 |  | 13,398
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, 2023
​ | ​ | ​ | ​ | ​ | ​ | Weighted-average | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | remaining | ​ | ​
​ | ​ | ​ | ​ | Weighted-average | ​ | exercise | ​ | ​
​ | ​ | Options | ​ | exercise price | ​ | contractual | ​ | Aggregate
​ |  | number |  | per option |  | life (years) |  | intrinsic value
​ | ​ | ​ | ​ | US$ | ​ | ​ | ​ | US$ in thousands
Options outstanding |  | 248,955,519 |  | 0.06 |  | 7.80 |  | 100,501
Exercisable |  | 133,762,513 |  | 0.02 |  | 6.49 |  | 60,138
Expected to vest |  | 115,193,006 |  | 0.12 |  | 9.32 |  | 40,363
Schedule of assumptions used to value the fair value of each option granted | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31 |
​ | ​ | 2021 | ​ | 2022 | ​ | 2023 |
​ |  | RMB |  | RMB |  | RMB |
Exercise price |  | RMB0.70 |  | RMB0.00 – 1.80 |  | RMB0.00-1.80 | ​
​ |  | (USD$0.11) |  | (USD$0.00 – 0.26) |  | (USD$0.00-0.25) | ​
Fair value of the ordinary shares on the |  | RMB1.31 |  | RMB1.35 – 1.40 |  | RMB2.04-3.10 | ​
date of option grant |  | (USD$0.20) |  | (USD$0.19 – 0.21) |  | (USD$0.30-0.43) | ​
Risk-free interest rate |  | 3.09 | % | 2.70% – 2.88 | % | 2.64%-3.84 | %
Contractual life |  | 10 years |  | 10 years |  | 10 years | ​
Expected forfeiture rate (post-vesting) |  | 16 | % | 16 | % | 16 | %
Exercise multiples |  | 2.8 |  | 2.8 |  | 2.8 | ​
Expected dividend yield |  | — |  | — |  | — | ​
Expected volatility |  | 32.00 | % | 29.77% – 30.16 | % | 30.09% – 30.41 | %
​ (i)Risk-free interest rate is based on the yields of China Government Bonds with maturities similar to the expected life of the share options in effect at the time of grant. 20. Share-based compensation (continued) Share options with employee termination compensation (continued) (ii)Expected dividend yield is assumed to be nil as the Group has no history or expectation of paying a dividend on its ordinary shares. (iii)The exercise multiples were estimated based on the vesting and contractual terms of the awards and management’s expectation of exercise behaviour of the grantees. (iv)Expected volatility is assumed based on the historical volatility of the Group and the Group’s comparable companies in the period equal to the expected life of each grant.

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