Share-based Compensation (Tables)
12 Months Ended
Dec. 31, 2015
Share-based Compensation  
Schedule of the Company's share option activities

 

 

 

Share options outstanding

 

 

 

Share
options

 

Weighted
average
exercise
price

 

Weighted
average
remaining
contractual
life
(in years)

 

Weighted
average
grant
date fair
value

 

 

 

 

 

US$

 

 

 

US$

 

Balances outstanding at January 1, 2013

 

4,368,382

 

2.69

 

4.34

 

1.30

 

 

 

 

 

 

 

 

 

 

 

Granted

 

90,000

 

4.61

 

 

 

1.15

 

Exercised

 

(981,992

)

1.33

 

 

 

1.32

 

Forfeited

 

(291,915

)

3.87

 

 

 

1.37

 

Expired

 

(50,000

)

0.30

 

 

 

0.05

 

 

 

 

 

 

 

 

 

 

 

Balances outstanding at December 31, 2013

 

3,134,475

 

3.10

 

3.98

 

1.31

 

 

 

 

 

 

 

 

 

 

 

Granted

 

457,500

 

3.71

 

 

 

1.22

 

Exercised

 

(642,058

)

2.00

 

 

 

1.09

 

Forfeited

 

(173,462

)

3.41

 

 

 

1.28

 

 

 

 

 

 

 

 

 

 

 

Balances outstanding at December 31, 2014

 

2,776,455

 

3.02

 

3.65

 

1.30

 

 

 

 

 

 

 

 

 

 

 

Granted

 

645,000

 

3.85

 

 

 

1.28

 

Exercised

 

(514,168

)

2.63

 

 

 

1.48

 

Forfeited

 

(377,679

)

3.40

 

 

 

1.21

 

 

 

 

 

 

 

 

 

 

 

Balances outstanding at December 31, 2015

 

2,529,608

 

3.16

 

3.22

 

1.27

 

 

 

 

 

 

 

 

 

 

 

Exercisable at December 31, 2013

 

1,357,529

 

2.75

 

3.40

 

1.31

 

Exercisable at December 31, 2014

 

1,373,002

 

2.82

 

3.15

 

1.36

 

Exercisable at December 31, 2015

 

1,478,203

 

2.94

 

2.34

 

1.27

 

 

Summary of the assumptions used to estimate the fair values of the share options granted

 

 

 

For the year ended December 31,

 

 

 

2013

 

2014

 

2015

 

 

 

 

 

 

 

 

 

Risk-free interest rate

 

2.05 

%

2.70 

%

2.39 

%

Exercise multiple

 

2.80 

 

2.80 

 

2.80 

 

Expected forfeiture rate

 

5 

%

5 

%

5 

%

Contractual life of option

 

6 years

 

6 years

 

6 years

 

Expected volatility

 

39.00 

%

45.00 

%

46.00 

%

Dividend yield

 

5 

%

4 

%

4 

%

 

Summary of Restricted Shares' activities

 

 

 

Restricted Shares outstanding

 

 

 

Restricted Shares

 

Weighted average
remaining contractual life
(in years)

 

Balances outstanding at January 1, 2014

 

312,941

 

4.49

 

 

 

 

 

 

 

Granted

 

486,000

 

 

 

Exercised

 

(5,211

)

 

 

Forfeited

 

(13,623

)

 

 

 

 

 

 

 

 

Balances outstanding at December 31, 2014

 

780,107

 

4.73

 

 

 

 

 

 

 

Granted

 

835,500

 

 

 

Exercised

 

(229,272

)

 

 

Forfeited

 

(45,350

)

 

 

 

 

 

 

 

 

Balances outstanding at December 31, 2015

 

1,340,985

 

4.93