Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Share-based compensation recognized in costs and expenses

Share-based compensation recognized in costs and expenses for the years ended December 31, 2020, 2021 and 2022 are as follows (in thousands):

	For the Years Ended December 31,
	2020		2021		2022
	RMB		RMB		RMB
Cost of revenues		2,613		3,052		2,802
Sales and marketing expenses		1,764		1,704		1,842
General and administrative expenses		3,648		3,244		2,215
Technology and product development expenses		1,358		1,582		1,022
Total		9,383		9,582		7,881

16. Share-based Compensation (Continued)

Summary of share option activities

A summary of the Company’s share option activities for the years ended December 31, 2020, 2021 and 2022 is presented below:

				Weighted		Weighted Average
	Number of			Average		Remaining		Aggregate
	Options			Exercise Price		Contractual Life		Intrinsic Value
				US$		Years		US$ in Million
Outstanding as of January 1, 2020		42,743,000			0.47		6.4		—
Granted		11,330,103			0.19
Forfeited and expired		(1,847,750	)		0.48
Exercised		—			—				—
Outstanding as of December 31, 2020		52,225,353			0.41		6.2		—
Granted		1,730,000			0.21
Forfeited and expired		(3,616,991	)		0.43
Exercised		—			—				—
Outstanding as of December 31, 2021		50,338,362			0.40		5.5		—
Granted		—			—
Forfeited and expired		(8,862,859	)		0.44
Exercised		—			—				—
Outstanding as of December 31, 2022		41,475,503			0.40		4.8		—
Exercisable as of December 31, 2022		32,490,503			0.42		4.1		—
Vested and expected to vest as of December 31, 2022		38,769,441			0.40		4.6		—

Share options valuation assumption

The key assumptions used in determining the fair value of options granted during the years ended December 31, 2020, 2021 and 2022 are as follows:

	For the Years Ended December 31,
	2020		2021		2022
Expected volatility rate	58.59%-74.15%		65.34%-68.45%		N/A
Expected dividend yield		—		—	N/A
Expected term (years)	0.50-6.16		6.16		N/A
Risk-free interest rate (per annum)	1.14%-2.37%		1.32%-1.72%		N/A