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SHARE-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2015
SHARE-BASED COMPENSATION  
Schedule of share-based compensation expense by function

 

 

 

Years ended December 31,

 

 

 

2013

 

2014

 

2015

 

 

 

RMB

 

RMB

 

RMB

 

US$

 

Cost of revenues

 

10 

 

1,393 

 

1,523 

 

235 

 

Research and development

 

14,520 

 

51,176 

 

142,682 

 

22,026 

 

Selling and marketing

 

2,835 

 

7,407 

 

18,068 

 

2,789 

 

General and administrative

 

20,031 

 

113,298 

 

153,134 

 

23,640 

 

 

 

 

 

 

 

 

 

 

 

 

 

37,396 

 

173,274 

 

315,407 

 

48,690 

 

 

 

 

 

 

 

 

 

 

 

 

2014 Restricted Share Plan  
SHARE-BASED COMPENSATION  
Restricted shares activity

 

 

 

Number of
shares

 

Weighted
Average Exercise
Price
(US$)

 

Weighted
Average
Grant Date
Fair Value
(US$)

 

Weighted
Average
Remaining
Contractual
Term (Years)

 

Aggregate
Intrinsic
Value (US$)

 

Outstanding at January 1, 2015

 

 

 

 

 

 

 

 

Granted

 

20,808,900

 

0.30

 

2.21

 

 

 

 

 

Forfeited

 

(811,000

)

0.34

 

2.30

 

 

 

 

 

Exercised

 

(200,000

)

 

2.58

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2015

 

19,797,900

 

0.30

 

2.20

 

8.31

 

25,801

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested and expected to vest at December 31, 2015

 

17,358,555

 

0.29

 

2.23

 

8.31

 

22,692

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable as at December 31, 2015

 

584,000

 

0.00

 

2.58

 

8.31

 

934

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2014 Restricted Share Plan | Restricted shares with an option feature  
SHARE-BASED COMPENSATION  
Summary of assumptions used in calculating fair value of options

 

 

 

 

Year ended December 31, 2015

 

Fair value of ordinary share (US$)

 

1.60~2.58

 

Risk-free interest rates

 

2.68%~2.97%

 

Expected volatility range

 

53.1%~63.3%

 

Expected dividend yield

 

0% 

 

Expected exercise multiple

 

2.2 

 

Fair value per option granted (US$)

 

1.17~2.58

 

 

2013 Incentive Scheme  
SHARE-BASED COMPENSATION  
Restricted shares activity

 

 

 

 

Number of
shares

 

Weighted
Average Exercise
Price
(US$)

 

Weighted
Average
Grant Date
Fair Value
(US$)

 

Weighted
Average
Remaining
Contractual
Term (Years)

 

Aggregate
Intrinsic
Value (US$)

 

Outstanding at January 1, 2015

 

55,292,131

 

0.34

 

1.03

 

9.01

 

64,802

 

Granted

 

11,005,000

 

0.31

 

2.16

 

 

 

 

 

Forfeited

 

(3,087,000

)

0.34

 

1.25

 

 

 

 

 

Exercised

 

(1,889,800

)

0.34

 

0.93

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2015

 

61,320,331

 

0.33

 

1.23

 

8.01

 

77,726

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested and expected to vest at December 31, 2015

 

59,733,636

 

0.33

 

1.22

 

8.01

 

75,704

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable as at December 31, 2015

 

10,023,493

 

0.33

 

1.09

 

8.01

 

12,752

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013 Incentive Scheme | Restricted shares with an option feature  
SHARE-BASED COMPENSATION  
Summary of assumptions used in calculating fair value of options

 

 

Year ended December 31, 2015

 

Fair value of ordinary share (US$)

 

1.45~2.87

 

Risk-free interest rates

 

2.40%~2.99%

 

Expected volatility range

 

52.6%~63.8%

 

Expected dividend yield

 

0% 

 

Expected exercise multiple

 

2.2 

 

Fair value per option granted (US$)

 

1.16~2.58

 

 

2011 Share Award Scheme  
SHARE-BASED COMPENSATION  
Restricted shares activity

 

 

 

Number of
ordinary shares

 

Weighted average
grant date
fair value (US$)

 

Unvested at January 1, 2015

 

38,398,753

 

0.55

 

Granted

 

6,380,530

 

1.91

 

Vested

 

(20,192,560

)

0.36

 

Forfeited

 

(2,383,750

)

0.63

 

 

 

 

 

 

 

 

 

 

 

 

 

Unvested at December 31, 2015

 

22,202,973

 

1.11

 

 

 

 

 

 

 

 

Other Share Incentive Awards  
SHARE-BASED COMPENSATION  
Restricted shares activity

 

 

 

Number of
ordinary shares

 

Weighted average
grant date
fair value (US$)

 

Unvested at January 1, 2015

 

 

 

Granted

 

4,627,940

 

2.26

 

Vested

 

(926,023

)

2.17

 

Forfeited

 

(11,250

)

2.58

 

 

 

 

 

 

 

 

 

 

 

 

 

Unvested at December 31, 2015

 

3,690,667

 

2.28

 

 

 

 

 

 

 

 

Kingsoft Share Award Scheme  
SHARE-BASED COMPENSATION  
Restricted shares activity

 

 

 

 

Number of Kingsoft
ordinary shares

 

Weighted average
grant date
fair value (US$)

 

Unvested at January 1, 2015

 

2,209,000

 

1.73

 

Granted

 

63,000

 

2.9

 

Vested

 

(439,000

)

0.5

 

Forfeited

 

(496,000

)

2.5

 

 

 

 

 

 

 

 

 

 

 

 

 

Unvested at December 31, 2015

 

1,337,000

 

1.9