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SHARE CAPITAL (Tables)

12 Months Ended

Dec. 31, 2021

SHARE CAPITAL

Schedule of information about classes of share capital


		As of December 31,
		2021				2020
		Number		US$		Number		US$
		of shares		‘000		of shares		‘000
Authorized:
Ordinary shares of US$0.024 each
At January 1 and December 31		50,000,000		1,200		50,000,000		1,200


		As of December 31,
		2021				2020
		Number		RMB		Number		RMB
		of shares		‘000		of shares		‘000
Issued:		5,976,098		943		3,674,370	*	591
Outstanding and fully paid:
Ordinary shares of US$0.024 each
At January 1		3,674,370		591		2,435,662		397
Issuance of new shares for equity financing		1,502,110		230		1,156,251		181
Warrants exercised into shares		685,339		105		—		—
Equity compensation		114,279		17		82,457		13
At December 31		5,976,098		943	⁽²⁾	3,674,370	*	591	⁽¹⁾

⁽¹⁾ Equivalent to US$91,000

⁽²⁾ Equivalent to US$143,000

* reflect 3:1 reverse stock split

Schedule of fair value of other than equity instrument explanatory


Grant date			December 18, 2019
Share price at date of grant (pre-reverse split)		US$	0.68
Exercise price at date of grant (investors and placement agent, respectively) (pre-reverse split)		US$	0.82 & 0.9375
Volatility			141	%
Warrant life			5 years
Dividend yield			0	%
Risk-free interest rate			1.74	%
Average fair value at grant date		US$	0.598


Grant date (investors and placement agent, respectively)			May 27 and May 25, 2020
Share price at date of grant (investors and placement agent, respectively) (pre-reverse stock split)		US$	0.59 & 0.64
Exercise price at date of grant (investors and placement agent, respectively) (pre-reverse stock split)		US$	0.79 & 0.85
Volatility			100	%
Warrant life			5 years
Dividend yield			0	%
Risk-free interest rate			0.34	%
Average fair value at grant date		US$	0.416


Grant date (investors and placement agent, respectively)			February 17, 2021
Share price at date of grant (investors and placement agent, respectively)		US$	4.45
Exercise price at date of grant (investors and placement agent, respectively)		US$	3.57 & 4.46
Volatility			107	%
Warrant life			5 years
Dividend yield			0	%
Risk-free interest rate			0.57	%
Average fair value at grant date		US$	3.54


Grant date (investors and placement agent, respectively)			June 14, 2021
Share price at date of grant (investors and placement agent, respectively)		US$	3.15
Exercise price at date of grant (investors and placement agent, respectively)		US$	3.42 & 4.35
Volatility			115	%
Warrant life			5 years
Dividend yield			0	%
Risk-free interest rate			0.80	%
Average fair value at grant date		US$	2.50

Schedule of summary of the warrant activity


							Weighted
							Average
							Remaining
				Average			Contractual
		Number of		Exercise			Term in
		Warrants		Price			Years
Outstanding at January 1, 2020		576,479		$	4.56		4.38
Exercisable at January 1, 2020		576,479		$	4.56		4.38
Granted		404,415			0.80		5.00
Exercised		—			—		—
Forfeited		—			—		—
Expired		—			—		—
Outstanding at December 31, 2020		980,894			1.21		3.85
Exercisable at December 31, 2020		980,894			1.21		3.85
Granted		1,652,322			3.56		5.00
Exercised		700,516			2.43		—
Forfeited		—			—		—
Expired		64,286			18.72		—
Outstanding at December 31, 2021		1,868,414		$	3.50		4.14
Exercisable at December 31, 2021		1,868,414		$	3.50		4.14