v3.25.2
SHARE-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2024
SHARE-BASED COMPENSATION  
Summary of compensation expense recognized for share-based awards

Year ended December 31, 

2022

2023

2024

    

RMB

    

RMB

    

RMB

Share-based compensation expenses

 

  

 

  

 

  

—Share options(a)

 

19,560

 

106

 

16,450

Summary of assumptions used to determine the fair value of share options granted

As of December 31,

 

    

2023

    

2024

 

Risk-free interest rate

NA

3.90%-4.38

%

Expected volatility

 

NA

59.20%-59.21

%

Expected life of option (years)

 

NA

 

20

Expected dividend yield

 

NA

 

Fair value per ordinary share

 

NA

 

0.13-0.53

Summary of stock option activity

    

    

    

Weighted

    

average

remaining

Aggregate

Number of

Weighted average

contractual

intrinsic

options

exercise price (US$)

life (years)

value (US$)

Outstanding at January 1, 2022

 

22,226,338

 

0.80

 

7.41

 

26,813

Granted

1,010,000

1.10

Forfeited

 

(2,537,466)

 

0.98

 

 

Exercised

 

(956,256)

 

0.44

 

 

Outstanding at December 31, 2022

 

19,742,616

 

0.81

 

6.49

 

22,974

Granted

 

 

 

 

Forfeited

 

(5,047,307)

 

0.78

 

 

Exercised

 

(176,883)

 

0.03

 

 

Outstanding at December 31, 2023

 

14,518,426

 

0.83

 

5.58

 

15,553

Granted

 

11,920,000

 

0.11

 

 

Forfeited

 

(1,642,047)

 

0.54

 

 

Exercised

 

(355,543)

 

0.04

 

 

Outstanding at December 31, 2024

 

24,440,836

 

0.51

 

11.43

 

19,794

Exercisable as of December 31, 2024

 

11,504,836

 

0.79

 

4.31

 

13,460

Expected to vest as of December 31, 2024

 

11,642,400

 

0.26

 

17.77

 

5,700