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SHARE-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2019
SHARE-BASED COMPENSATION |
Schedule of assumptions used to estimate the fair values of the share options granted |
|  | 2017 |  | 2018 |  | 2019
Risk-free rate of return |  | 1.31%~1.76% |  | 2.01%~2.63% |  | 1.68%~2.63%
Contractual life of option |  | 10 years |  | 10 years |  | 10 years
Estimated volatility rate |  | 25% |  | 27%~38% |  | 30%~41%
Dividend yield |  | Nil |  | Nil |  | Nil
Fair value per ordinary share |  | US$5.89~$7.30 |  | US$3.00 ~$9.51 |  | US$2.37 ~$3.40
Schedule of employee option activity under the Plan |
|  |  |  |  |  | Weighted |  |
|  |  |  | Weighted |  | average |  |
|  |  |  | average |  | remaining |  | Aggregate
|  | Number of |  | exercise |  | contractual |  | intrinsic
|  | Options |  | price |  | term |  | value
|  |  |  | US$ |  | Years |  | US$
Outstanding at January 1, 2017 |  | 3,461,650 |  | 1.00 |  | 8.46 |  | 3,843
Granted |  | 2,303,900 |  | 1.84 |  |  |  |
Forfeited |  | (1,866,225) |  | 1.56 |  |  |  |
Outstanding at December 31, 2017 |  | 3,899,325 |  | 1.22 |  | 7.98 |  | 7,970
Granted |  | 5,296,204 |  | 2.17 |  |  |  |
Forfeited |  | (304,900) |  | 1.96 |  |  |  |
Outstanding at December 31, 2018 |  | 8,890,629 |  | 1.76 |  | 8.28 |  | 36,888
Granted |  | 1,063,293 |  | 4.12 |  |  |  |
Forfeited |  | (2,086,050) |  | 1.99 |  |  |  |
Exercised |  | (1,962,484) |  | 0.76 |  |  |  |
Outstanding at December 31, 2019 |  | 5,905,388 |  | 2.44 |  | 7.96 |  | 22,807
Vested and Exercisable as of December 31, 2019 |  | 1,960,367 |  | 1.87 |  | 3.85 |  | 7,151
Vested or expected to vest as of December 31, 2019 |  | 5,905,388 |  | 2.44 |  | 7.96 |  | 22,807
Schedule of restricted share unit |
|  | Number of |  | Weighted Average Grant Date
|  | Restricted Stocks |  | Fair Value
|  |  |  | US$
Restricted share units outstanding at January 1, 2019 |  | — |  | —
Granted |  | 3,050,427 |  | 3.90
Forfeited |  | (195,200) |  | 3.10
Vested |  | (301,228) |  | 4.60
Restricted share units outstanding at December 31, 2019 |  | 2,553,999 |  | 3.88
Schedule of share based compensation expense |
|  | Year Ended December 31,
|  | 2017 |  | 2018 |  | 2019
|  | RMB |  | RMB |  | RMB
General and administrative expenses |  | 5,176 |  | 22,477 |  | 25,412
Selling and marketing expenses |  | 3,674 |  | 23,561 |  | 24,772
Technology and content expenses |  | 1,071 |  | 5,321 |  | 4,097
Total |  | 9,921 |  | 51,359 |  | 54,281

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