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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
Share-Based Compensation [Abstract]  
Schedule of Fair Value Assumptions
The fair value per option was estimated at the date of grant using the following weighted-average assumptions:
 
 
 
For Year Ended December 31,
 
 
 
2014
 
2015
 
 
 
RMB
 
RMB
 
 
 
 
 
 
 
Risk-free interest rate
 
 
2.99
%
 
2.61%~ 2.833
%
Contract life
 
 
10 years
 
 
10 years
 
Expected volatility range
 
 
50.48
%
 
48.78%~ 48.96
%
Expected dividend yield
 
 
0.00
%
 
0.00
%
Fair value of the underlying shares on the date of option grants (RMB)
 
 
13.32
 
 
16.23~22.63
 
Summary of Stock Option Activity
A summary of option activity under the 2014 Plan and 2015 Plan during the years ended December 31, 2014, 2015 and 2016 is presented below:
 
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
Weighted
 
Average
 
Aggregate
 
 
 
 
 
Average
 
Remaining
 
Intrinsic
 
 
 
Number of
 
Exercise
 
Contractual
 
Value of
 
 
 
Options
 
Price
 
Term
 
Options
 
 
 
 
 
RMB
 
 
 
RMB
 
 
 
 
 
 
 
 
 
 
 
Outstanding, as of January 1, 2014
 
 
7,515,838
 
 
0.1
 
 
8.10
 
 
-
 
Granted
 
 
8,892,833
 
 
 
 
 
 
 
 
 
 
Forfeited
 
 
(1,255,648)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding, as of December 31, 2014
 
 
15,153,023
 
 
0.1
 
 
8.60
 
 
-
 
Granted
 
 
4,472,745
 
 
 
 
 
 
 
 
 
 
Forfeited
 
 
(1,311,296)
 
 
 
 
 
 
 
 
 
 
Expired
 
 
(113,421)
 
 
 
 
 
 
 
 
 
 
Exercised
 
 
(1,626,197)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding, as of December 31, 2015
 
 
16,574,854
 
 
3.5
 
 
8.02
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Granted
 
 
-
 
 
 
 
 
 
 
 
 
 
Forfeited
 
 
(1,118,589)
 
 
 
 
 
 
 
 
 
 
Expired
 
 
(59,813)
 
 
 
 
 
 
 
 
 
 
Exercised
 
 
(2,544,255)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding, as of December 31, 2016
 
 
12,852,197
 
 
2.2
 
 
7.2
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expected to vest as of December 31, 2016
 
 
3,016,724
 
 
6.2
 
 
7.8
 
 
-
 
Exercisable as of December 31, 2016
 
 
9,188,518
 
 
0.6
 
 
6.9
 
 
250,979
 
Schedule of restricted share units activities
A summary of the restricted share units activities under the 2015 Plan during the year ended December 31, 2016 is presented below:
 
 
 
Number of
 
 
 
 
 
restricted share
 
Weighted-Average
 
 
 
units
 
Grant-Date Fair Value
 
 
 
 
 
RMB
 
 
 
 
 
 
 
 
 
Outstanding, as of January 1, 2016
 
 
3,976,311
 
 
17.28
 
Granted
 
 
3,663,574
 
 
18.32
 
Forfeited
 
 
(793,355)
 
 
 
 
 
 
 
 
 
 
 
 
Outstanding, as of December 31, 2016
 
 
6,846,530
 
 
17.83
 
Schedule of Allocated Share-Based Compensation Expense
 
 
For Year Ended December 31,
 
 
 
2014
 
2015
 
2016
 
 
 
RMB
 
RMB
 
RMB
 
 
 
 
 
 
 
 
 
Fulfillment
 
 
460
 
 
1,440
 
 
1,755
 
Sales and marketing
 
 
5,469
 
 
9,793
 
 
13,370
 
Technology and content
 
 
26,311
 
 
5,047
 
 
7,875
 
General and administrative
 
 
52,723
 
 
8,915
 
 
11,185
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
84,963
 
 
25,195
 
 
34,185