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Share-based compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Option Pricing Model and Adopted Fair Value Per Share

The Group uses binomial option pricing model and adopted fair value per share of ordinary share to determine fair value of the share-based awards. The estimated fair value of each option or each restricted share granted is estimated on the date of grant using the binomial option-pricing model or fair value per share of ordinary share with the following assumptions:

 Schedule of Option Pricing Model and Adopted Fair Value Per Share

		For the six months ended June 30,
Options*		2023				2024
Fair value per share (US$)			-*				0.73~5.56
Discount rate (after tax)			-*				Not applicable
Risk-free interest rate			-*				3.99%-4.36%
Expected volatility			-*				64.67%-65.68%
Contractual term (in years)			-*				10
Discount for lack of marketability (“DLOM”)			-*				Not applicable

* There were no grants for options for the six months period ended June 30, 2023.

		For the six months ended June 30,
Restricted shares		2023				2024
Fair value per share (US$)			0.36				Not applicable
Discount rate (after tax)			15.5	%			Not applicable
Discount for lack of marketability (“DLOM”)			10	%			Not applicable

Schedule of Stock Options Activities

The following table presents a summary of the Company’s stock options activities for the six months ended June 30, 2023 and 2024.

 Schedule of Stock Options Activities

		Number of Options Outstanding*												Weighted Average exercise price				Weighted average remaining contractual life				Aggregated intrinsic value
		Employees				Consultant				Total
		(in thousands)				(in thousands)				(in thousands)				US$				(in years)				RMB in thousands
Outstanding at January 1, 2023			7,618				331				7,949				1.7905				4.67				65,572
Replacement			(6,381	)			-				(6,381	)			0.9353				-				-
Granted			-				-				-				-				-				-
Forfeited			(9	)			-				(9	)			8.1442				-				-
Outstanding at June 30, 2023			1,228				331				1,559				5.2484				4.17				86
Exercisable as of June 30, 2023			1,228				331				1,559				5.2484				4.17				86
Outstanding at January 1, 2024			573				-				573				0.6675				9.73				23,775
Replacement			(22	)			-				(22	)			7.4245				-				-
Granted			599				-				599				0.1000				-				-
Forfeited			(9	)			-				(9	)			5.3707				-				-
Outstanding at June 30, 2024			1,141				-				1,141				0.1963				9.64				5,979
Exercisable as of June 30, 2024			519				-				519				0.3076				9.60				2,734

* Shares outstanding for all periods reflect the adjustment for Reverse Recapitalization (Note 3).

Schedule of Restricted Share Activities

The following table sets forth the summary of restricted share activities for the six months ended June 30, 2023 and 2024:

 Schedule of Restricted Share Activities

		Number of Restricted Shares Granted*				Weighted-Average Grant Date Fair Value
		(in thousands)				(US$)
Unvested as of January 1, 2023			786				4.8435
Replacement			-				-
Awarded			6,381				4.8590
Vested			(6,527	)			4.8481
Forfeited			(93	)			5.5574
Outstanding at June 30, 2023			547				4.8427
Unvested as of January 1, 2024			330				5.0223
Replacement			22				4.2700
Awarded			1,546				1.6495
Vested			(1,651	)			1.8351
Forfeited			(88	)			5.0458
Outstanding at June 30, 2024			159				5.2073

* Shares outstanding for all periods reflect the adjustment for Reverse Recapitalization (Note 3).

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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 change in restricted stock units (RSUs).

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