SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Mar. 31, 2022

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

Schedule of share options activity

The following table sets forth the share options activities for the year ended December 31, 2019, the three months ended March 31,2020, the fiscal years ended March 31, 2021 and 2022:

	Number of shares			Weighted-average exercise price		Weighted average remaining contractual term		Aggregate intrinsic value		Weighted average fair value of options
				US$		YEARS		US$’000		US$
Outstanding as of December 31, 2018		55,195,000			1.85		7.74		27,773.18		2.03
Granted		4,247,500			1.36		—		—		0.02
Forfeited		(11,454,468	)		2.36		—		—		2.65
Exercised		(6,772,504	)		0.03		—		—		0.54
Modified		(5,873,482	)		2.82		—		—		2.95
Outstanding as of December 31, 2019		35,342,046			1.81		8.33		31,391.17		1.72
Granted		2,175,300			0.03		—		—		0.49
Forfeited		(5,186,508	)		1.14		—		—		2.09
Outstanding as of March 31, 2020		32,330,838			1.79		6.81		25,530.99		1.58
Granted		6,700,665			0.01		—		—		0.39
Forfeited		(9,794,727	)		1.17		—		—		2.13
Exercised		(3,482,103	)		0.08		—		—		0.59
Outstanding as of March 31, 2021		25,754,673			1.79		6.18		3,974.57		1.20
Granted		1,266,357			0.01		—		—		0.57
Forfeited		(1,681,323	)		1.34		—		—		2.58
Exercised		(6,826,300	)		0.36		—		—		0.67
Outstanding as of March 31, 2022		18,513,407			0.75		6.01		2,405.17		1.23
Vested and expected to vest as of    March 31, 2022		18,513,407			0.75		6.01		2,405.17		1.23
Exercisable as of March 31, 2022		17,375,277			0.56		5.93		2,282.78		1.26

Schedule of options granted to Grantees were measured at fair value on the dates of grant

Options granted to Grantees were measured at fair value on the dates of grant using the Binomial Option Pricing Model with the following assumptions:

	For the year ended December 31,			For the three months ended March 31,			For the fiscal year ended March 31,			For the fiscal year ended March 31,
	2019			2020			2021			2022
Expected volatility	44%~45%			46%~49%			48%~61%			34%~68%
Risk-free interest rate (per annum)	1.6%~1.9%			0.3%~0.7%			0%~1.4%			0%~2.4%
Exercise multiple	2.8/2.2			2.8/2.2			2.8/2.2			2.8/2.2
Expected dividend yield		0	%		0	%		0	%		0	%
Contractual term (in years)		10			10			10			10

Summary of restricted shares activity

The following table sets forth the restricted shares activity for the year ended December 31, 2019, the three months ended March 31, 2020, the fiscal years ended March 31, 2021 and 2022:

	Number of shares			Weighted average grant date fair value
				US$
Unvested as of December 31, 2018		133,334			2.26
Granted		151,655			1.41
Vested		(184,988	)		0.75
Forfeited		(66,667	)		2.26
Unvested as of December 31, 2019		33,334			2.26
Granted		50,066			0.51
Vested		(50,066	)		0.51
Unvested as of March 31, 2020		33,334			2.26
Granted		275,850			0.45
Vested		(309,184	)		0.65
Unvested as of March 31, 2021		—			—
Granted		606,570			0.42
Vested		(606,570	)		0.42
Unvested as of March 31, 2022		—			—

Summary of Share-Based Compensation Expenses by Function

The following table sets forth the amounts of share-based compensation expenses continuing operations included in each of the relevant financial statement line items:

	For the year ended December 31,		For the three months ended March 31,			For the fiscal year ended March 31,			For the fiscal year ended March 31,
	2019		2020			2021			2022
	RMB		RMB			RMB			RMB
Cost of revenues		—		—			2,149			—
Sales and marketing expenses		—		—			5,036			—
Research and development expenses		194		(2,158	)		(2,216	)		—
General and administrative expenses		84,265		(29,925	)		(24,091	)		26,534
Total		84,459		(32,083	)		(19,122	)		26,534

Performance Awards

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

Schedule of options granted to Grantees were measured at fair value on the dates of grant

The fair value of Performance Awards with market conditions granted was determined using a Monte Carlo model with the following assumptions:

	For the fiscal year ended March 31,
	2022
Risk-free interest rate		1.12	%
Expected volatility		46	%
Expected dividend yield		0	%