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Share-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2023
Share-Based Compensation [Abstract] |
Schedule of RSUs Activity | The following table summarized the RSUs activity and related information for the year ended December 31, 2022 and 2023:
|  | Number of RSUs |  | Weighted Average Grant Date Fair Value (RMB)
Unvested, January 1, 2022 |  | 3,090,710 |  | 0.02
Granted |  | — |  | —
Forfeited |  | 81,131 |  | 0.02
Vested |  | 1,003,192 |  | 0.02
Unvested, December 31, 2022 |  | 2,006,387 |  | 0.02
Granted |  | — |  | —
Forfeited |  | 216,350 |  | 0.02
Vested |  | 895,019 |  | 0.02
Unvested, December 31, 2023 |  | 895,018 |  | 0.02
Schedule of Valuation Assumptions | The option granted on January 1, 2022 was valued using the binomial model with the assistance of an independent valuation firm using the management’s estimates and assumptions. Significant assumptions used in the valuation are set as below:
|  | January 1, 2022
Spot price on valuation date |  | US$ 4.80 |
Expected volatility |  | 137.01 | %
Risk-free interest rate |  | 1.51 | %
Dividend yield |  | 0.00 | %
Forfeiture rate |  | 0.00 | %
|  | For the year ended December 31, 2023
Spot price on valuation date |  | US$ 1.06
Expected volatility |  | 120.95% – 123.34%
Risk-free interest rate |  | 3.53% – 4.28%
Dividend yield |  | 0.00%
Schedule of Share Option Activity | The following table summarizes the share options activity and related information for the years ended December 31, 2022 and 2023:
|  | Number of Options |  | Weighted Average Exercise Price (RMB) |  | Weighted Average Remaining Term (Years) |  | Weighted Average Grant Date Fair Value (RMB) |  | Aggregated Intrinsic Value (RMB)
Outstanding as of January 1, 2022 |  | — |  | — |  | — |  | — |  | —
Granted |  | 250,000 |  | 0.003 |  | 10.0 |  | 60.94 |  |
Forfeited |  | — |  | — |  | — |  | — |  |
Exercised |  | — |  | — |  | — |  | — |  |
Outstanding as of December 31, 2022 |  | 250,000 |  | 0.003 |  | 9.0 |  | 60.94 |  | 2,001,626
Vested and exercisable as of December 31, 2022 |  | 83,333 |  | 0.003 |  | 9.0 |  | 60.94 |  | 667,209
Granted |  | 861,860 |  | 0.001 |  | 9.3 |  | 7.34 |  |
Forfeited |  | 211,584 |  | 0.003 |  | — |  | 49.57 |  |
Exercised |  | 587,890 |  | 0.002 |  | — |  | 14.94 |  |
Outstanding as of December 31, 2023 |  | 312,386 |  | 0.001 |  | 9.3 |  | 7.34 |  | 4,004,469
Vested and exercisable as of December 31, 2023 |  | 71,517 |  | 0.001 |  | 9.3 |  | 7.34 |  | 916,775

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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