SHARE BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2018

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Stock Option Activity

	Number of option outstanding			Weighted-average exercise price		Weighted-average remaining contractual term		Aggregate intrinsic value
				(US$/share)		(in years)		(RMB)
Balance as of January 1, 2018		9,090,536			3.25		-		-
Granted		-			-		-		-
Exercise		(445,164	)		1.51		-		-
Forfeited		(192,000	)		3.29		-		-
Balance as of December 31, 2018		8,453,372			3.34		5.80		152,447
Vested and expected to vest as of December 31,2018		7,728,598			3.35		5.73		152,447
Vested and exercisable as of December 31, 2018		5,930,114			3.37		5.60		152,447

Schedule of Expense Allocation

	As of December 31,
	2016		2017		2018
	RMB		RMB		RMB
Costs of revenues		333,338		2,219,311		967,367
Selling expenses		15,980,509		12,722,162		6,415,213
General and administrative expenses		67,152,462		46,017,821		24,066,459
Research and development expenses		6,101,390		3,908,608		(2,141,136	)
Total		89,567,699		64,867,902		29,307,903

Schedule of Assumptions

	2016
Expected volatility		77.72% - 79.56	%
Expected dividend yield		0	%
Expected terms		5.3 - 6.5
Risk-free interest rate		1.74% - 1.94	%
Fair value per option at grant date (RMB)		16.94 - 17.93