v2.4.0.8

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2013

SHARE-BASED COMPENSATION [Abstract]

Schedule of Assumptions Used to Estimate Fair Value

The fair value of each share-based award is estimated at grant date during 2013 using the Black-Scholes option-pricing model based on the following assumptions:

Year ended December 31		2012		2013
Risk-free interest rate (1)		0.11% - 2.66%		0.11% - 2.66%
Expected life (2)		2-5 years		2-5 years
Expected volatility (3)		39.97%-42.04%		39.17%-42.04%
Dividend yield (4)		Nil		Nil

Summary of Stock Options Activity

A summary of stock option activity is as follows:

						Weighted				Weighted
						average				average
		Number				exercise price				fair value
		of options				per option				at grant date
Outstanding at December 31, 2011			7,356,249			$	1.40			$	1.01
Exercised			(1,635,252	)		$	1.40			$	1.01
Forfeited			(751,425	)		$	1.40			$	1.01
Expired			(91,475	)		$	1.40			$	1.01
Outstanding at December 31, 2012			4,878,097			$	1.40			$	1.01
Granted on April 1, 2013			280,000			$	2.58			$	0.05
Exercised			(2,172,103	)		$	1.40			$	1.21
Forfeited			(68,005	)		$	1.40			$	1.12
Expired			(21,650	)		$	1.40			$	1.27
Outstanding at December 31, 2013			2,896,339			$	1.51			$	0.77

Summary of Stock Options Outstanding

The following table summarizes information with respect to stock options outstanding at December 31, 2012 and 2013:

Options exercisable

Options outstanding as of December 31, 2012

as of December 31, 2012

Weighted

Weighted

Weighted

average

average

average

exercise

Aggregate

Number

exercise

Aggregate

Number

contractual

price

intrinsic

of

price

intrinsic

of option

period

per option

value

options

per option

value

Ordinary shares

4,878,097

5 years

$

1.40

$

17,957

2,839,857

$

1.40

$

2,507

Options exercisable

Options outstanding as of December 31, 2013

as of December 31, 2013

Weighted

Weighted

Weighted

average

average

average

exercise

Aggregate

Number

exercise

Aggregate

Number

contractual

price

intrinsic

of

price

intrinsic

of option

period

per option

value

options

per option

value

Ordinary shares

2,896,339

5 years

$

1.51

$

22,301

2,839,857

$

1.40

$

2,154

Schedule of RSU Activity

A summary of RSU activity is as follows:

		For the year ended
		December 31, 2012
		Number
		of options
Outstanding at December 31, 2011			234,000
Granted on January 17, 2012			100,000
Granted on May 8, 2012			313,250
Exercised			(31,500	)
Forfeited			(34,100	)
Outstanding at December 31, 2012			581,650
Granted on April 1, 2013			1,217,600
Exercised			(173,350	)
Forfeited			(6,300	)
Outstanding at December 31, 2013			1,574,000

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Tabular disclosure of the following for fully vested share options (or share units) and share options expected to vest at the date of the latest statement of financial position: the number, weighted-average exercise price (or conversion ratio), aggregate intrinsic value (except for nonpublic entities), and weighted-average remaining contractual term of options (or share units) outstanding.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

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-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (e)(1)

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- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)(1)

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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)(1)

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

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-Paragraph 2

-Subparagraph (f)(2)

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