v3.25.2
SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
SCHEDULE OF RESTRICTED ORDINARY SHARES HELD BY THE COMPANY'S EMPLOYEES

A summary of the Company’s restricted ordinary shares held by the Company’s employees for the years ended December 31, 2023 and 2024 is presented below:

 

   Number of
shares		   Weighted
average grant
date fair value		 
Unvested as of January 1, 2023   4,976,485    3.20 
Granted   860,000    0.29 
Vested   (2,001,838)   1.07 
Forfeited   (1,031,670)   1.04 
Unvested as of December 31, 2023   2,802,977    4.62 
Granted   6,430,000    0.54 
Vested   (906,732)   0.89 
Forfeited   (87,225)   1.76 
Unvested as of December 31, 2024   8,239,020    1.88 
SCHEDULE OF COMPENSATION EXPENSES RECOGNIZED

Total compensation expenses recognized for restricted ordinary shares for the years ended December 31, 2022, 2023 and 2024 were allocated to the following expense items:

   

   2022   2023   2024 
   Year ended December 31, 
   2022   2023   2024 
   RMB   RMB   RMB 
Research and development expenses   (5,158)   654    (545)
General and administrative expenses   59,133    10,868    1,828 
Selling and marketing expenses   1,275    1,851    10,968 
Total restricted ordinary shares compensation expenses   55,250    13,373    12,251 
SCHEDULE OF SHARE OPTIONS ACTIVITIES

 

   Number of
shares		   Weighted
average exercise
price		   Weighted
remaining
contractual
years		   Aggregate
intrinsic value		 
       US$       US$ 
Outstanding as of January 1, 2023   17,595,037    0.24           
Forfeited   (721,728)   0.15           
Exercised   (3,731,723)   0.17           
Outstanding as of December 31, 2023   13,141,586    0.26           
Granted   1,000,000    0.38           
Forfeited   (736,690)   0.15           
Exercised   (1,018,889)   0.19         1,463 
Outstanding as of December 31, 2024   12,386,007    0.28           
Vested and expected to vest as of December 31, 2024   12,386,007    0.28    3.39    24,278 
Exercisable as of December 31, 2024   11,499,929    0.25    2.33    24,016 
SCHEDULE OF FAIR VALUE ASSUMPTIONS

The fair values of the options granted are estimated on the dates of grant using the binomial option pricing model with the following assumptions used:

 

   Year ended
December 31,		 
Grant dates:  2024 
Risk free rate of return   2.5%
Volatility   45.0%
Expected dividend yield   0%
Exercise multiple   2.20 
Fair value of underlying ordinary share    US$0.30- US$0.52 
Expiration terms   10 years   
Share-Based Payment Arrangement, Option [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
SCHEDULE OF COMPENSATION EXPENSES RECOGNIZED

Compensation expense recognized for share options during the years ended December 31,2022, 2023 and 2024 is allocated to the following expense items:

 

   2022   2023   2024 
   Year ended
December 31,		 
   2022   2023   2024 
   RMB   RMB   RMB 
Cost of revenues   (621)   3    - 
Research and development expenses   (795)   1,006    55 
Selling and marketing expenses   (765)   6,068    345 
General and administrative expenses   54,393    1,788    1,653 
Total share option compensation expenses   52,212    8,865    2,053