v2.4.1.9

SHARE-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2014
EMPLOYEE BENEFIT PLAN [Abstract] |
Schedule of Assumptions Used to Estimate Fair Value |
Year ended December 31 |  | 2012 |  | 2013 |  | 2014
Risk-free interest rate (1) |  |  |  | 0.11% - 2.66% |  |  |  | 0.11% - 2.66% |  |  |  | 0.11% - 2.66% |
Expected life (2) |  |  |  | 2-5 years |  |  |  | 2-5 years |  |  |  | 2-5 years |
Expected volatility (3) |  |  |  | 39.97% - 42.04% |  |  |  | 39.17%-42.04% |  |  |  | 38.15-%42.04% |
Dividend yield (4) |  |  |  | Nil |  |  |  | Nil |  |  |  | Nil |
| (1) | Risk-free interest rate Risk-free interest rate adopted the yield to maturity of United States government bonds with the same maturity as the respective expected term of the options.
| (2) | Expected life The expected life was estimated as the average between the vesting term of the options and the original contractual term.
| (3) | Expected volatility The expected volatility of the underlying ADS during the life of the options was calculated based on the Company's historical stock price volatility over the period from initial public offering through to the grant date.
| (4) | Dividend yield The dividend yield was expected to be nil based on the Company's historical dividend distribution record and its policy.
| (5) | Share price The fair value of the ordinary shares on the grant date was the closing price of the Company's stock at each grant date.
Summary of Stock Options Activity |
|  |  |  |  | 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 |
Exercised |  |  | (1,815,259) |  |  | $ | 1.40 |  |  | $ | 1.20 |
Forfeited |  |  | (10,000) |  |  | $ | 1.40 |  |  | $ | 1.28 |
Expired |  |  | (96,796) |  |  | $ | 1.40 |  |  | $ | 1.09 |
Outstanding at December 31, 2014 |  |  | 974,284 |  |  | $ | 1.73 |  |  | $ | 0.86 |
Summary of Stock Options Outstanding |
|  |  |  |  |  |  |  |  |  |  |  |  |  | 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 |  |  |  | 2,677,154 |  |  | $ | 1.40 |  |  | $ | 2,154 |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Options exercisable |
|  | Options outstanding as of December 31, 2014 |  |  | as of December 31, 2014 |
|  |  |  |  |  |  |  | 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 |  |  | 974,284 |  |  |  | 5 years |  |  | $ | 1.73 |  |  | $ |  | 8,117 |  |  |  | 694,284 |  |  | $ | 1.40 |  |  | $ | 648 |
Schedule of RSU Activity |
|  |  | Number |
|  |  | of RSU |
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 |  |  | (51,900 | )
Outstanding at December 31, 2013 |  |  | 1,574,000 |
Granted on November 4, 2014 |  |  | 20,000 |
Exercised |  |  | (237,400) |
Expired |  |  | (26,500) |
Forfeited |  |  | (227,900) |
Outstanding at December 31, 2014 |  |  | 1,102,200 |

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