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SHARE-BASED AWARDS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
SHARE-BASED AWARDS |
Schedule of Assumptions Used |
|  | February 18, 2014 |
Risk-free interest rate |  | 2.33 | %
Dividend yield |  | 5 | %
Exercise multiple |  | 2.5 |
Expected volatility range |  | 39.03 | %
Schedule of Stock Options | The following table summarizes employee share options activities for the year ended December 31, 2019:
|  |  |  |  |  |  |  |  |  | Weighted |  |
|  |  |  |  | Weighted- |  |  | Weighted |  | Average |  |
|  |  |  |  | Average |  |  | Average |  | Remaining |  | Aggregate
|  | Number of |  |  | Exercise |  |  | Grant-date |  | Contractual |  | Intrinsic
Share Options Granted to Employees |  | Shares |  |  | Price |  |  | Fair Value |  | Term (Years) |  | Value
Outstanding, January 1, 2019 |  | 3,130,113 |  | US$ | 2.21 |  | US$ | 0.61 |  | 3.14 |  | —
Lapsed |  | (355,884) |  | US$ | 3.55 |  | US$ | 1.25 |  | — |  | —
Outstanding, December 31, 2019 |  | 2,774,229 |  | US$ | 2.04 |  | US$ | 0.65 |  | 2.14 |  | —
Exercisable at December 31, 2019 |  | 2,774,229 |  | US$ | 2.04 |  | US$ | 0.65 |  | 2.14 |  | —
Summary of Restricted Shares |
|  |  |  | Fair Value per Share
|  |  |  | at the Grant
Grant Date |  | Number of Awards |  | date (US$)
February 18, 2014 |  | 1,370,250 |  | 1.93
July 1, 2014 |  | 21,132 |  | 2.35
August 1, 2014 |  | 69,564 |  | 2.44
August 7, 2017 |  | 1,453,950 |  | 1.33
August 8, 2017 |  | 3,319,200 |  | 1.34
September 13, 2017 |  | 45,000 |  | 1.33
October 2, 2018 |  | 5,992,605 |  | 1.19
The Company recognizes the compensation expense on a straight-line basis over the requisite service period for the entire award. Restricted Shares activity for the year ended December 31, 2019 was as follows:
|  |  |  | Weighted
|  | Numbers |  | average grant
|  | of shares |  | date fair value
|  | RMB |  | US$
Outstanding, January 1, 2019 |  | 11,573,802 |  | 1.32
Forfeited |  | (83,250) |  | 1.93
Exercised |  | (63,618) |  | 1.34
Outstanding, December 31, 2019 |  | 11,426,934 |  | 1.32
Exercisable, December 31, 2019 |  | 1,073,679 |  | 1.93
Expected to vest, December 31, 2019 |  | 10,353,255 |  | 1.25
Schedule of Share-Based Compensation Expense |
|  | For the Years ended December 31,
|  | 2017 |  | 2018 |  | 2019 |  | 2019
|  | RMB |  | RMB |  | RMB |  | US$
General and administrative expenses |  | 10,099 |  | 9,173 |  | 17,673 |  | 2,539
Selling expenses |  | 1,542 |  | 1,966 |  | 2,920 |  | 419
|  | 11,641 |  | 11,139 |  | 20,593 |  | 2,958

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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