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Share-Based Compensation (Tables)

12 Months Ended

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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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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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.

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Tabular disclosure of the weighted-average grant-date fair value of equity options or other equity instruments granted during the year.

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