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Share-based compensation (Tables) | 12 Months Ended
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Dec. 31, 2014
Summary of Share Option Activity | The following table summarizes the share option activity for the years ended December 31, 2012, 2013 and 2014:
|  | Number of share options |  |  | Weighted average exercise price (USD) |  |  | Weighted- average grant-date fair value (USD) |  |  | Weighted average remaining contractual life (years) |  |  | Aggregate intrinsic value (in thousands) |
Outstanding, December 31, 2011 |  |  | 20,891,782 |  |  |  | 1.30 |  |  |  |  |  |  |  | 3.87 |  |  |  | 43,068 |
Granted |  |  | 320,000 |  |  |  | 2.73 |  |  |  | 1.59 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (989,120 | ) |  |  | 1.72 |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding, December 31, 2012 |  |  | 20,222,662 |  |  |  | 1.30 |  |  |  |  |  |  |  | 2.82 |  |  |  | 40,788 |
Granted |  |  | 1,076,761 |  |  |  | 3.33 |  |  |  | 1.27 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (326,647 | ) |  |  | 3.32 |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding, December 31, 2013 |  |  | 20,972,776 |  |  |  | 1.37 |  |  |  | — |  |  |  | 2.03 |  |  |  | 39,420 |
Vested and expected to vest at December 31, 2013 |  |  | 20,701,286 |  |  |  | 1.32 |  |  |  | 0.40 |  |  |  | 1.89 |  |  |  | 41,014 |
Exercisable at December 31, 2013 |  |  | 19,382,156 |  |  |  | 1.17 |  |  |  | 0.31 |  |  |  | 1.67 |  |  |  | 40,771 |
Granted |  |  | 1,566,381 |  |  |  | 3.23 |  |  |  | 1.01 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (371,989 | ) |  |  | 3.96 |  |  |  |  |  |  |  |  |  |  |  |  |
Expired |  |  | (1,116,531 | ) |  |  | 0.26 |  |  |  |  |  |  |  |  |  |  |  |  |
Converted to restricted shares |  |  | (3,776,711 | ) |  |  | 3.14 |  |  |  |  |  |  |  |  |  |  |  |  |
Exercised (note a) |  |  | (7,333,641 | ) |  |  | 0.18 |  |  |  |  |  |  |  |  |  |  |  |  |
Outstanding, December 31, 2014 |  |  | 9,940,285 |  |  |  | 1.88 |  |  |  |  |  |  |  | 1.95 |  |  |  | 3,067 |
Vested and expected to vest at December 31, 2014 |  |  | 9,642,307 |  |  |  | 1.86 |  |  |  | 0.49 |  |  |  | 1.87 |  |  |  | 3,057 |
Exercisable at December 31, 2014 |  |  | 9,129,958 |  |  |  | 1.81 |  |  |  | 0.41 |  |  |  | 1.49 |  |  |  | 3,042 |
Note a: Of which 1,431,320 shares had been settled as of December 31, 2014.
Schedule of Fair Values of Stock Options Granted | The fair values of stock options granted during the years ended December 31, 2012, 2013 and 2014 were estimated using the following assumptions: Options granted to employees
Years ended December 31, |  | 2012 |  |  | 2013 |  |  | 2014 |
Risk-free interest rate(1) |  |  | 0.67% to 0.92% |  |  |  | 0.77% to 1.76% |  |  |  | 0.77% to 1.76% |
Dividend yield(2) |  |  | — |  |  |  | — |  |  |  | — |
Volatility rate(3) |  |  | 53.9% to 54.5% |  |  |  | 43.8% to 51.3% |  |  |  | 40.07% to 43.3% |
Expected term (in years)(4) |  |  | 4.58 |  |  |  | 4.58 |  |  |  | 4.13 to 4.58 |
(1) | The risk-free interest rate of periods within the contractual life of the share option is based on the USD denominated China Government Bond yield as at the valuation dates.
(2) | The Company has no history or expectation of paying dividends on its common shares.
(3) | Expected volatility is estimated based on the average of historical volatilities of the comparable companies in the same industry as at the valuation dates.
(4) | The expected term is developed by assuming the share options will be exercised in the middle point between the vesting dates and maturity dates.
Schedule of Recognized Compensation Costs | Total compensation costs recognized for the years ended December 31, 2012, 2013 and 2014 are as follows:
|  | Years ended December 31, |
(In thousands) |  | 2012 |  |  | 2013 |  |  | 2014 |
Sales and marketing expenses |  |  | 46 |  |  |  | 43 |  |  |  | 66 |
General and administrative expenses |  |  | 1,102 |  |  |  | 1,080 |  |  |  | 6,407 |
Research and development expenses |  |  | 1,085 |  |  |  | 973 |  |  |  | 1,171 |
Total |  |  | 2,233 |  |  |  | 2,096 |  |  |  | 7,644 |
2013 Plan [Member] |
Summary of Restricted Shares Activities | A summary of the restricted shares activities under the 2013 Plan for the years ended December 31, 2012, 2013 and 2014 is presented below:
|  | Number of restricted shares |  |  | Weighted-Average Grant-Date Fair Value |
Unvested at January 1, 2013: |  |  | — |  |  |  |  |
Granted |  |  | 8,095,238 |  |  |  | 3.15 |
Unvested at December 31, 2013 |  |  | 8,095,238 |  |  |  |  |
Granted |  |  | 4,233,558 |  |  |  | 2.89 |
Vested |  |  | (1,563,222 | ) |  |  |  |
Forfeited |  |  | (3,564,796 | ) |  |  |  |
Unvested at December 31, 2014 |  |  | 7,200,778 |  |  |  |  |
Vested and expected to vest at December 31, 2014 |  |  | 7,683,884 |  |  |  |  |
2010 share incentive plan [Member] |
Summary of Restricted Shares Activities | A summary of the restricted shares activities under the 2010 Plan for the years ended December 31, 2014 is presented below:
|  | Number of restricted shares |  |  | Weighted-Average Grant-Date Fair Value |
Unvested at January 1, 2014: |  |  | — |  |  |  |  |
Converted from share options |  |  | 1,505,787 |  |  |  | 1.71 |
Vested |  |  | — |  |  |  |  |
Forfeited |  |  | — |  |  |  |  |
Unvested at December 31, 2014 |  |  | 1,505,787 |  |  |  |  |
Vested and expected to vest at December 31, 2014 |  |  | 1,279,919 |  |  |  |  |
2014 Plan [Member] |
Summary of Restricted Shares Activities | A summary of the restricted shares activities under the 2014 Plan for the years ended December 31, 2014 is presented below:
|  | Number of restricted shares |  |  | Weighted-Average Grant-Date Fair Value |
Unvested at January 1, 2014 |  |  | — |  |  |  |  |
Granted |  |  | 3,896,500 |  |  |  | 1.77 |
Unvested at December 31, 2014 |  |  | 3,896,500 |  |  |  |  |
Vested and expected to vest at December 31, 2014 |  |  | 3,312,025 |  |  |  |  |

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