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Share-Based Payment (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]    
Schedule of modification date fair value of the stock options was determined using the Binomial-Lattice Model  
 

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 yield(5)

 

0.00%

Weighted average fair value of options modified

 

$   4.70 – $5.36

(1)      Exercise price

Exercise price was extracted from option agreements.

(2)      Expected lives

Expected lives was derived from option agreements.

(3)      Volatility

The volatility of the underlying common shares during the lives of the options was estimated based on the historical stock price volatility of comparable listed companies over a period comparable to the expected term of the options and the implied volatility of the Company.

(4)      Risk-free interest rate

Risk-free interest rate was estimated based on the market yield of US Government Bond with maturity close to the expected term of the options, plus country risk spread.

(5)      Expected dividend yield

The dividend yield was estimated by the Company based on its expected dividend policy over the expected term of the options.

 

Year Ended December 31, 2021

Expected term (years)(1)

 

2.18 – 2.35

 

Volatility(2)

 

63.06

% – 64.31%

Average correlation coefficient of peer companies(3)

 

0.7960 – 0.8120

 

Risk-free interest rate(4)

 

0.31

% – 0.55%

Expected dividend yield(5)

 

0.00

%

Schedule of share options activity

Stock options life

 

Number of
Shares

 

Weighted
Average
Exercise
Price
(US$)

 

Weighted
Average
Grant Date
Fair Value
(US$)

 

Weighted
Average
Remaining
Contractual
Life

Outstanding as of January 1, 2021

 

34,737,967

 

 

$

6.19

 

$

2.92

 

9.0

Grant

 

 

 

 

 

 

   

Forfeited

 

(913,710

)

 

 

6.28

 

 

2.97

   

Outstanding as of March 31, 2021

 

33,824,257

 

 

$

6.19

 

$

2.92

 

8.7

Expected to vest and exercisable as of March 31, 2021

 

33,824,257

 

 

$

6.19

 

$

2.92

 

8.7

Outstanding as of January 1, 2022

 

33,503,657

 

 

 

6.19

 

 

4.95

 

7.9

Forfeited

 

(72,135

)

 

 

6.28

 

 

4.92

   

Outstanding as of March 31, 2022

 

33,431,522

 

 

$

6.18

 

$

4.98

 

7.7

Expected to vest and exercisable as of March 31, 2022

 

33,431,522

 

 

$

6.18

 

$

4.98

 

7.7

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, 2019

 

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

Expected to vest and exercisable as of December 31, 2019

 

7,578,503

 

 

5.50

 

2.14

 

 

7.1

     

 

       

 

   

Outstanding as of January 1, 2020

 

7,578,503

 

 

5.50

 

2.14

 

 

7.1

Grant

 

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

     

 

       

 

   

Outstanding as of January 1, 2021

 

34,737,967

 

 

6.19

 

2.92

 

 

9.0

Granted

 

 

 

 

 

   

Forfeited

 

(1,234,310

)

 

6.28

 

3.20

 

   

Outstanding as of December 31, 2021

 

33,503,657

 

 

6.19

 

4.95

(a)

 

7.9

Expected to vest and exercisable as of December 31, 2021

 

33,503,657

 

 

6.19

 

4.95

(a)

 

7.9

(a)      The amount represented weighted average modification date value per share.

Schedule non-vested shares activity

 

Number on
Non-Vested
Shares

 

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

Outstanding as of January 1, 2021

 

23,027,399

 

$

0.93

Outstanding as of March 31, 2021

 

23,027,399

 

$

0.93

Outstanding as of March 31, 2022

 

23,027,399

 

$

8.741

1        The amount represented modification date value per share.As of modification date, the settled price was the capped price as described above.

 

Number of
Non-Vested
Shares

 

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

Outstanding as of January 1, 2021

 

 

 

 

Outstanding as of March 31, 2021

 

 

 

 

Outstanding as of January 1, 2022

 

671,441

 

 

 

9.08

Grant

 

38,566

 

 

$

6.78

Vested

 

(8,124

)

 

$

8.52

Forfeited

 

(13,196

)

 

$

8.87

Outstanding as of March 31, 2022

 

688,687

 

 

$

8.96

 

Number on
Non-Vested
Shares

 

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

Outstanding as of January 1, 2019

 

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

 

Forfeited

 

 

 

 

Outstanding as of December 31, 2021

 

23,027,399

 

 

8.74

(a)

(a)      The amount represented weighted average modification date value per share. As of modification date, the settled price was the capped price as described above.

 

Number of
Non-Vested
Shares

 

Weighted Average
Grant
Date
Fair Value

Per Share
(US$)

Outstanding as of January 1, 2019

 

5,578,012

 

 

0.93

Transfer to capped non-vested share units

 

(2,288,175

)

 

0.64

Outstanding as of December 31, 2019

 

3,289,837

 

 

1.14

     

 

   

Transfer to capped non-vested share units

 

(3,289,837

)

 

1.14

Outstanding as of December 31, 2020

 

 

 

Grant

 

727,600

 

 

9.07

Vested

 

(14,279

)

 

8.52

Forfeited

 

(41,880

)

 

9.05

Outstanding as of December 31, 2021

 

671,441

 

 

9.08

Schedule of classification of stock-based compensation

 

Three Months
Ended
March 31,
2022

Cost of revenues

 

$

1,934

General and administrative expenses

 

 

18,136

Research and development expenses

 

 

5,139

Selling and marketing expenses

 

 

2,921

Construction in process

 

 

162

Total

 

$

28,292

 

Year Ended December 31,

   

2019

 

2020

 

2021

Cost of revenues

 

$

 

$

 

$

4,309

General and administrative expenses

 

 

 

 

 

 

59,492

Research and development expenses

 

 

 

 

 

 

13,064

Selling and marketing expenses

 

 

 

 

 

 

6,029

Construction in process

 

 

 

 

 

 

237

Total

 

$

 

$

 

$

83,131