SHARE-BASED PAYMENT (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

The grant and modification date fair value of the stock options was determined using the Black Scholes model with the following assumptions:


	Nine months ended September 30, 2023
Exercise price	$	1.21		~	$	6.28
Expected terms (years)	0.25			~	6.00
Volatility	55.59		%	~	86.83		%
Risk-free interest rate	3.48		%	~	5.38		%
Expected dividend yields	0.00%
Fair value of options granted	$	0.005		~	$	1.48

At the Modification date, the Company used the Monte Carlo valuation model in determining the fair value of the CRSUs with assumptions as follows:


	Modification Date
Expected term (years)	0.07		~	2.07
Volatility	50.93	%	~	73.89	%
Risk-free interest rate	1.15	%	~	3.05	%
Expected dividend yields	0.00%

The following assumptions were used for the respective period to calculate the fair value of common stock to be issued under TSR awards on the date of grant using the Monte Carlo model:


	Nine months ended September 30, 2023
Expected term (years)	2.92
Volatility	61.89	%
Risk-free interest rate	3.83	%
Expected dividend yields	0.00	%

Schedule of Effective Time Fair Value of the Stock Options was Determined Using the BLM

Stock options activity for the nine months ended September 30, 2022 and 2023 was as follows:


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 December 31, 2021	33,503,657	6.19	4.95	7.9
Grant	2,900,000	4.81	2.69
Forfeited	(227,092)	6.28	4.86
Outstanding as of September 30, 2022	36,176,565	6.08	4.80	7.1
Expected to vest and exercisable as of September 30, 2022	36,176,565	6.08	4.80	7.1
Exercisable as of September 30, 2022	11,875,830	6.20	5.00	7.2
Outstanding as of December 31, 2022	36,091,071	6.08	4.80	6.8
Grant	640,000	1.77	1.18
Forfeited	(895,706)	5.02	3.64
Outstanding as of September 30, 2023	35,835,365	6.03	4.76	5.6
Expected to vest and exercisable as of September 30, 2023	35,835,365	6.03	4.76	5.6
Exercisable as of September 30, 2023	23,916,879	6.14	4.90	5.5

Schedule Non-vested Shares Activity

Activity on the CRSUs for the nine months ended September 30, 2022 and 2023 was as follows:


	Number on Non-Vested Shares	Weighted Average Grant Date Fair Value per Share (US$)
Outstanding as of December 31, 2021	23,027,399	8.74	1
Vested	(9,582,930)	4.37
Outstanding as of September 30, 2022	13,444,469	2.38
Outstanding as of December 31, 2022	13,444,469	2.38
Vested	(6,722,228)	2.47
Outstanding as of September 30, 2023	6,722,241	2.29

The non-vested shares activity for the nine months ended September 30, 2022 and 2023 was as follows:


	Number of Non-Vested Shares	Weighted Average Grant Date Fair Value Per Share (US$)
Outstanding as of December 31, 2021	671,441	9.08
Grant	1,239,854	4.93
Vested	(86,996)	6.96
Forfeited	(58,126)	7.47
Outstanding as of September 30, 2022	1,766,173	6.33
Outstanding as of December 31, 2022	1,222,837	6.92
Grant	3,354,633	1.88
Vested	(496,586)	3.39
Forfeited	(103,424)	4.59
Outstanding as of September 30, 2023	3,977,460	3.17

Schedule of Classification of Stock-based Compensation

The following summarizes the classification of share-based compensation:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2023		2022		2023
Cost of revenues	$	1,964	$	1,530	$	5,780	$	4,559
General and administrative expenses	12,834		10,444		55,528		35,031
Research and development expenses	3,193		2,953		10,981		8,660
Selling and marketing expenses	1,284		935		5,533		3,391
Construction in process	139		140		403		429
Total	$	19,414	$	16,002	$	78,225	$	52,070