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SHARE-BASED AWARDS (Tables)

12 Months Ended

Dec. 31, 2024

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	%

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, 2024 was as follows:

​

​	​	​	​	​
​	​	​	​	Weighted
​	​	Numbers	​	average grant
​	​	of shares	​	date fair value
​		RMB		US$
Outstanding, January 1, 2024	​	10,785,789	​	1.31
Granted	​	—	​	—
Forfeited	​	—	​	—
Exercised	​	—	​	—
Outstanding, December 31, 2024	​	10,785,789	​	1.31
Exercisable, December 31, 2024	​	10,785,789	​	1.31

Schedule of share-based compensation expense

​

​	​	​	​	​	​	​	​	​
​	​	For the Years ended December 31,
​	​	2022	​	2023	​	2024	​	2024
​		RMB		RMB		RMB		US$
General and administrative expenses		(6,424)		—		—		—
Selling expenses		505		—		—		—
​		(5,919)		—		—		—

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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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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