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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Compensation [Abstract]  
Schedule of Activities of Original Option Units The following table sets forth the activities of Original Option Units for the year ended December 31, 2024:
   Number of
Original
Option
Units
   Weighted
average
exercise
price
   Weighted
average
grant date
fair value
   Weighted
average
remaining
contractual
years
   Aggregate
intrinsic
value
 
       US$   US$       US$ 
Outstanding as of January 1, 2024   27,261,398    0.38    0.33    5.88    5,247,567 
Granted   174,318    0.24    
-
    
-
    
-
 
Forfeited   (1,746,791)   0.77    
-
    
-
    
-
 
Exercised   (5,731,483)   0.20    
-
    
-
    
-
 
Outstanding as of December 31, 2024   19,957,442    0.40    0.32    4.88    71,540 
Expected to be vested as of December 31, 2024   19,957,442    0.40    0.32    4.88    71,540 
Exercisable as of December 31, 2024   17,000,880    0.32    0.24    4.48    71,110 

The following table sets forth the activities of Additional Option Units for the year ended December 31, 2024:

 

   Number of
Additional
Option
Units
   Weighted
average
exercise
price
   Weighted
average
grant date fair value
   Weighted
average
remaining
contractual
years
   Aggregate
intrinsic
value
 
       US$   US$       US$ 
Outstanding as of January 1, 2024   892,126    0.78    0.55    0.39    
            -
 
Granted   -    
-
    
-
    
-
    
-
 
Forfeited   (297,361)   0.75    
-
    
-
    
-
 
Exercised   (65,823)   0.60    
-
    
-
    
-
 
Outstanding as of December 31, 2024   528,942    0.82    0.58    0.03    
-
 
Expected to be vested as of December 31, 2024   528,942    0.82    0.58    0.03    
-
 
Exercisable as of December 31, 2024   526,010    0.82    0.58    0.03    
-
 

The following table sets forth the activities of Restricted Share Units for the year ended December 31, 2024:

 

   Number of
Restricted
Share Units
   Weighted
average
exercise
price
   Weighted
average
grant date
fair value
   Weighted
average
remaining
contractual
years
   Aggregate
intrinsic
value
 
       US$   US$       US$ 
Outstanding as of January 1, 2024   15,046,408    0.01    0.55    N/A    7,584,563 
Granted   
-
    
-
    
-
    
-
    
-
 
Forfeited   (1,069,052)   
-
    
-
    
-
    
-
 
Exercise   (431,481)   
-
    
-
    
-
    
-
 
Outstanding as of December 31, 2024   13,545,875    0.00    0.62    N/A    2,786,010 
Vested and expected to be vested as of December 31, 2024   13,545,875    0.00    0.62    N/A    2,786,010 
Schedule of Lock-up Period The Lock-up period is specified as below:
Lock-up Period of the relevant percentage of the option  Cap of vested Share Unit 
After 6 months since the vesting date   20%
After 12 months since the vesting date   50%
After 18 months since the vesting date   100%
Schedule of Key Assumptions are Listed

The key assumptions are listed as follows:

 

   2024   2023   2022 
Expected volatility   24.00%   24.00%   25.00%
Risk-free interest rate (per annum)   4.60%   5.02%   2.50%-2.80%
Exercise multiple   2.20    2.80    2.50-2.80 
Expected dividend yield   0.00%   0.00%   0.00%
Expected term (in years)   10    10    10 
Fair value of the underlying ordinary share  US$3.45    US$2.15-US$4.15   US$9.30