Share-Based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2017 |
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
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| Summary of Company's Employee Share Option Activity |
The following table summarizes the Company’s employee share
option activity under the share option plans:
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Number of
options |
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Weighted
average
exercise
price |
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Weighted
average
grant
date fair
value |
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Weighted
average
remaining
contractual
term |
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Aggregate
intrinsic
value |
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US$ |
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US$ |
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Years |
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US$ |
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Outstanding, January 1, 2017
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2,821,592 |
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16.66 |
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11.87 |
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8.15 |
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24,329 |
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Granted
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775,458 |
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32.17 |
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30.23 |
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Exercised
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(1,060,830 |
) |
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8.86 |
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Forfeited
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(948,606 |
) |
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24.30 |
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Outstanding, December 31, 2017
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1,587,614 |
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24.88 |
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19.67 |
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8.53 |
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63,190 |
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Vested and expected to vest at December 31, 2017
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1,533,724 |
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24.84 |
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19.67 |
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8.52 |
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61,103 |
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Exercisable as of December 31, 2017
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292,352 |
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13.85 |
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11.65 |
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6.53 |
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14,857 |
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| Schedule of Restricted Shares Activity |
Restricted shares activity for the year ended December 31,
2017 was as follows:
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Number
of shares |
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Weighted
average grant
date fair
value |
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US$ |
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Outstanding, January 1, 2017
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2,087,392 |
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26.61 |
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Granted
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934,518 |
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34.63 |
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Vested
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(782,802 |
) |
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27.66 |
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Forfeited
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(588,100 |
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26.38 |
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Outstanding, December 31, 2017
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1,651,008 |
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29.95 |
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Expected to vest, December 31, 2017
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1,572,618 |
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29.98 |
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| Schedule of Estimated Fair Value of Share-Based Awards on Respective Grant Dates using Binomial Option Pricing Model |
The Company calculated the estimated fair value of the share-based
awards on the respective grant dates using the binomial option
pricing model with the following assumptions:
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2016 |
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2017 |
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Fair value of ordinary share
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US$23.76-US$24.88 |
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US$45.36-US$54.84 |
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Risk-free interest rates
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1.70%-1.75% |
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2.30%-2.44% |
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Expected exercise multiple
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2.2-2.8 |
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2.2-2.8 |
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Expected volatility
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63% |
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57%-60% |
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Expected dividend yield
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0.00% |
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0.00% |
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Weighted average fair value per option granted
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US$14.12-US$15.26 |
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US$27.05-US$33.73 |
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| Schedule of Share-Based Compensation Expenses |
Share-based compensation expenses relating to options and
restricted shares granted to employees recognized for the year
ended December 31, 2015, 2016 and 2017 is as follows:
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Year ended
December 31, |
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2015 |
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2016 |
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2017 |
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RMB |
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RMB |
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RMB |
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US$ |
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Cost of revenues
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6,939 |
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12,310 |
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15,166 |
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2,331 |
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Sales and marketing expenses
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36,584 |
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50,814 |
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53,064 |
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8,155 |
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General and administrative expenses
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40,142 |
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77,965 |
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59,954 |
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9,215 |
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Product development expenses
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24,280 |
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54,304 |
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49,602 |
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7,624 |
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107,945 |
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195,393 |
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177,786 |
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27,325 |
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