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SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2023

Summary of the share options activities

A summary of the share options activities under the Amended 2016 Plan and the 2018 Plan for the year ended December 31, 2023 was presented below:

​

​	​	​	​	​	​	​	​	​
​		​		Weighted		Weighted		​
​	​	​	​	average	​	remaining	​	Aggregate
​	​	Number of	​	exercise	​	contractual	​	intrinsic
​		shares		price		years		value
​	​	​	​	US$	​	​	​	US$
Outstanding at January 1, 2023	​	4,414,608	​	2.11	​	—	​	—
Exercised	​	(464,300)	​	0.20	​	—	​	—
Forfeited/Expired	​	(7,250)	​	0.20	​	—	​	—
Outstanding at December 31, 2023	​	3,943,058	​	2.34	​	4.56	​	1,190,466
Exercisable as of December 31, 2023	​	3,943,058	​	2.34	​	4.56	​	1,190,466

Summary of the restricted share units activities

A summary of the restricted share units activities for the year ended December 31, 2023 was presented below:

​	​	​	​	​
​		​		Weighted
​	​	​	​	average grant
​	​	Number of	​	date fair
​	​	shares	​	value
​	​	​	​	US$
Unvested as of January 1, 2023		3,890,658	​	4.59
​	​	​	​	​
Granted		232,000	​	2.31
Vested	​	(1,507,862)	​	4.44
Forfeited	​	(611,722)	​	4.30
​	​	​	​	​
Unvested as of December 31, 2023		2,003,074	​	4.53

​

Schedule of share-based compensation expenses recognized

Total share-based compensation expenses recognized for the years ended December 31, 2021, 2022 and 2023 were allocated to the following expense items:

​

​	​	​	​	​	​	​
​		For the Year Ended
​	​	December 31,
​		2021		2022		2023
​		RMB		RMB		RMB
Cost of revenues		846,833	​	1,224,796	​	1,237,902
Selling and marketing expenses		13,292,632	​	15,433,684	​	9,991,688
Research and development expenses		17,062,024	​	22,361,742	​	21,653,946
General and administrative expenses		16,016,667	​	19,198,964	​	14,775,768
Total share-based compensation expense		47,218,156	​	58,219,186	​	47,659,304

​

Share options

Schedule of share-based compensation expenses recognized

Compensation expenses recognized for share options for the years ended December 31, 2021, 2022 and 2023 were allocated to the following expense items:

​

​	​	​	​	​	​	​
​		For the Year Ended
​		December 31,
​		2021		2022		2023
​		RMB	​	RMB		RMB
Cost of revenues		8,318	​	—	​	—
Selling and marketing expenses		2,235,102	​	1,936,414	​	905,764
Research and development expenses		4,018,126	​	3,862,189	​	2,191,242
General and administrative expenses		6,649,255	​	5,008,382	​	3,047,542
Total share options compensation expenses		12,910,801	​	10,806,985	​	6,144,548

​

No share options had been granted for the years ended December 31, 2021, 2022 and 2023. The total intrinsic value of share options exercised for the years ended December 31, 2021, 2022 and 2023, were RMB77,271,754, RMB3,708,615 and RMB4,799,425, respectively. The total fair value of shares vested for the years ended December 31, 2021, 2022 and 2023 were RMB15,732,201, RMB10,976,490 and RMB11,027,023, respectively.

​

Unvested restricted share units

Schedule of share-based compensation expenses recognized

Compensation expenses recognized for restricted share units for the years ended December 31, 2021, 2022 and 2023 were allocated to the following expense items:

​

​	​	​	​	​	​	​
​	​	For the Year Ended
​	​	December 31,
​		2021		2022		2023
​		RMB	​	RMB	​	RMB
Cost of revenues		838,515	​	1,224,796	​	1,237,902
Selling and marketing expenses		11,057,530	​	13,497,270	​	9,085,924
Research and development expenses		13,043,898	​	18,499,553	​	19,462,704
General and administrative expenses		9,367,412	​	14,190,582	​	11,728,226
Total restricted share units compensation expenses		34,307,355	​	47,412,201	​	41,514,756

​

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Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

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