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Share-Based Payment (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2021
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]    
Schedule of stock option activity plan

Share options life

 

Number of
shares

 

Weighted
Average
Exercise
Price
(US$)

 

Weighted
Average
Grant
Date Fair
Value
(US$)

 

Weighted
Average
Remaining
Contractual

Outstanding as of January 1, 2020

 

7,578,503

 

 

$

5.50

 

$

2.14

 

7.1

Grant

 

27,874,727

 

 

 

6.27

 

 

3.06

 

 

Forfeited

 

(1,196,158

)

 

 

3.89

 

 

2.04

 

 

Outstanding as of September 30, 2020

 

34,257,072

 

 

$

6.19

 

$

2.90

 

9.2

Expected to vest and exercisable as of September 30, 2020

 

34,257,072

 

 

$

6.19

 

$

2.90

 

9.2

     

 

 

 

   

 

     

Outstanding as of January 1, 2021

 

34,737,967

 

 

 

6.19

 

 

2.92

 

9.0

Forfeited

 

(1,186,220

)

 

 

6.27

 

 

3.13

 

 

Outstanding as of September 30, 2021

 

33,551,747

 

 

$

6.19

 

$

4.95

 

8.2

Expected to vest and exercisable as of September 30, 2021

 

33,551,747

 

 

$

6.19

 

$

4.95

 

8.2

Share options

 

Number
of shares

 

Weighted
average
exercise
price

 

Weighted
average
grant date
fair value

 

Weighted
average
remaining
contractual life

       

(US$)

 

(US$)

   

Outstanding as of January 1, 2018

 

9,034,556

 

 

$

5.57

 

$

2.19

 

9.1

Granted

 

160,270

 

 

 

6.28

 

$

1.41

 
 

Forfeited

 

(384,684

)

 

 

6.28

 

$

2.42

 

 

Outstanding as of December 31, 2018

 

8,810,178

 

 

$

5.55

 

$

2.16

 

8.1

Forfeited

 

(1,231,675

)

 

 

5.83

 

$

2.27

 

 

Outstanding as of December 31, 2019

 

7,578,503

 

 

$

5.50

 

$

2.14

 

7.1

Granted

 

28,350,160

 

 

 

6.28

 

$

3.09

 
 

Forfeited

 

(1,190,696

)

 

 

3.89

 

$

2.04

 

 

Outstanding as of December 31, 2020

 

34,737,967

 

 

 

6.19

 

 

2.92

 

9.0

Expected to vest and exercisable as of December 31, 2020

 

34,737,967

 

 

$

6.19

 

$

2.92

 

9.0

Schedule of weighted average assumptions applied to options
 

After
modification

Exercise price(1)

 

$

4.37 – 6.28

 

Expected lives (years)(2)

 

 

4.5 – 9.4

 

Volatility(3)

 

 

47.6% – 53.1%

 

Risk-free interest rate(4)

 

 

1.26 – 1.87

%

Expected dividend yields(5)

 

 

0.00

%

Weighted average fair value of options modified

 

$

4.70 – 5.36

 

 

Nine Months
Ended
September 30,
2021

Expected term (years)(1)

 

2.35

 

Volatility(2)

 

63.06%

 

Average correlation coefficient of peer companies(3)

 

0.7960

 

Risk-free interest rate(4)

 

0.31

%

Expected dividend yields(5)

 

0.00

%

Grant date

 

For the
years ended
December 31,
2018

Risk-free interest rate(1)

 

3.55

%

Expected dividend yield(2)

 

0.0

%

Volatility(3)

 

51.7

%

Exercise multiple(4)

 

2.2

 

Life of options(5)

 

10 years

 

Fair value of underlying ordinary shares(6)

 

$3.22

 

Grant date

 

For the
years ended
December 31,
2020

Risk-free interest rate(1)

 

1.54% ~ 1.61%

 

Expected dividend yield(2)

 

0.0%

 

Volatility(3)

 

50.2% ~ 51.8%

 

Exercise multiple(4)

 

2.2 ~ 2.8   

 

Life of options(5)

 

10 years   

 

Fair value of underlying ordinary shares(6)

 

$6.10 ~ $8.21   

 

Schedule non-vested shares activity
 

Number on
Non-Vested
Shares

 

Weighted
Average
Grant Date
Fair Value
per Share
(US$)

Outstanding as of January 1, 2020

 

19,809,056

 

 

$

0.90

Forfeited

 

(71,494

)

 

$

1.42

Transfer from non-vested shares

 

3,289,837

 

 

$

1.14

Outstanding as of September 30, 2020

 

23,027,399

 

 

$

0.93

Outstanding as of January 1, 2021

 

23,027,399

 

 

$

0.93

Outstanding as of September 30, 2021

 

23,027,399

 

 

$

6.27

 

Number of
non-vested
shares

 

Weighted
average
grant date
fair value
per share

       

(US$)

Outstanding as of January 1, 2020

 

3,289,837

 

 

$

1.14

Transfer to non-vested share units

 

(3,289,837

)

 

$

1.14

Outstanding as of September 30, 2020

 

 

 

 

     

 

 

 

 

Outstanding as of January 1, 2021

 

 

 

 

Grant

 

197,940

 

 

$

9.60

Vested

 

(6,157

)

 

$

8.52

Outstanding as of September 30, 2021

 

191,783

 

 

$

9.63

 

Number of
non-vested
shares

 

Weighted
Average
Grant date
fair value
per share

       

(US$)

Outstanding as of January 1, 2018

 

7,008,101

 

 

$

0.87

Forfeited

 

(1,430,089

)

 

$

0.64

Outstanding as of December 31, 2018

 

5,578,012

 

 

$

0.93

Transfer to non-vested share units

 

(2,288,175

)

 

$

0.64

Outstanding as of December 31, 2019

 

3,289,837

 

 

$

1.14

Transfer to non-vested share units

 

(3,289,837

)

 

$

1.14

Outstanding as of December 31, 2020

 

 

 

$

 

Number of
non-vested
share units

 

Weighted
Average
Grant date
fair value
per share

       

(US$)

Outstanding as of January 1, 2018

 

18,235,550

 

 

$

0.97

Forfeited

 

(943,990

)

 

$

1.18

Outstanding as of December 31, 2018

 

17,291,560

 

 

$

0.96

Forfeited

 

(772,341

)

 

$

1.60

Transfer from non-vested shares

 

3,289,837

 

 

$

0.64

Outstanding as of December 31, 2019

 

19,809,056

 

 

$

0.90

Forfeited

 

(71,494

)

 

$

1.42

Transfer from non-vested shares

 

3,289,837

 

 

$

1.14

Outstanding as of December 31, 2020

 

23,027,399

 

 

$

0.93

Schedule of classification of stock-based compensation
 

Three Months Ended
September 30,
2021

Cost of sales

 

$

2,306

General and administrative

 

 

44,164

Research and development expenses

 

 

8,303

Selling and marketing expenses

 

 

3,518

Construction in process

 

 

103

Total

 

$

58,394