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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