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Ordinary Shares | 12 Months Ended
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Dec. 31, 2022
Equity [Abstract] |
Ordinary Shares | 13. ORDINARY SHARES On September 18, 2015, the Company authorized 1,000,000,000 shares of a par value of US$0.00005 (equivalent to RMB 0.0003) per share and issued 1 ordinary share at par value at incorporation. The ordinary shares of the Company are classified as Class A, Class B and Class C ordinary shares. Holders of Class A, Class B and Class C ordinary shares have the same rights except for voting and conversion rights. Each Class A ordinary share is entitled to one vote and is not convertible. Each Class B ordinary share is entitled to seven votes and is solely convertible into one Class A ordinary share, at any time by the holder thereof. Each Class C ordinary share is entitled to ten votes and is solely convertible into one Class A ordinary share, at any time by the holder thereof. On August 29, 2018, the Company’s Board of Directors approved a share repurchase program under which the Company was authorized to repurchase up to US$50,000 of its Class A ordinary shares in the form of ADSs over the following 12 months. On November 18, 2019, the Company’s Board of Directors approved the extension of the repurchase program to August 23, 2020. On December 6, 2021, the Company’s Board of Directors approved a share repurchase program under which the Company was authorized to repurchase up to US$15,000 of its Class A ordinary shares in the form of ADSs over the following 24 months. In 2021 and 2022, the Company transferred RMB 4,866 and RMB 6,742, respectively, to the designated account for share repurchase. 4,097,195 ADSs, 120,650 ADSs and 234,865 ADSs (equivalent to 163,884, 60,325 and 117,432 Class A ordinary shares, respectively) were repurchased for the years ended December 31, 2020, 2021 and 2022 at a total consideration of RMB 26,579, RMB 3,623 and RMB 7,985, respectively. The repurchased shares were presented as treasury stock on the consolidated balance sheets as of December 31, 2021 and 2022. During the years ended December 31, 2020, 2021 and 2022, 148,438, 107,318 and 521,577 Class C ordinary shares were converted into 148,438, 107,318 and 521,577 Class A ordinary shares, respectively.

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