Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Share Option Activity

The following table summarized the Group's share option activities for the year ended December 31, 2022:

	Number of options			Weighted average exercise price		Weighted average remaining contract life		Weighted average grant date fair value		Aggregate intrinsic value
				US$				US$		US$
Outstanding as of January 1, 2022		34,759,959			0.20		7.36		0.30		3,210,349
Granted		10,280,000			0.0014		—		0.12		—
Forfeited		(6,019,585	)		0.0014		—		2.46		—
Exercised		(4,402,853	)		0.0100		—		2.52		—
Outstanding as of December 31, 2022		34,617,521			0.20		6.82		1.00		5,366,449
Vested and expect to vest as of    December 31, 2022		34,617,521			0.20		6.82		1.00		5,366,449
Exercisable as of December 31, 2022		20,646,357			0.33		5.61		0.88		2,489,373

Summary of Key Assumptions Used to Determine Fair Value of Options

In determining the fair value of the share options, the binomial option pricing model was applied. The key assumptions used to determine the fair value of the options at the respective grant dates in 2020, 2021 and 2022 were as follows:

	For the years ended December 31
Grant date	2020	2021	2022
Expected volatility	50.1%~50.9%	45.6%~50.2%	58.0%~59.0%
Risk-free interest rate	2.7%~3.2%	2.9%~3.1%	2.75%~2.84%
Exercise multiples	2.2~2.8	2.2~2.8	2.2~2.8
Expected dividend yield	0.0%	0.0%	0.0%
Life of options	10 years	10 years	10 years
Fair value of underlying ordinary shares	$1.52~$4.20	$1.12~$5.32	$0.09~$0.24

Summary of Total Share-based Compensation Expense of Share Options and Restricted Shares Recognized

Total share-based compensation expense of share options and restricted shares recognized for the years ended December 31, 2020, 2021 and 2022 were as follows:

	For the years ended December 31
	2020		2021		2022
Sales and marketing expenses		35,077		25,776		17,305
Research and development expenses		68,688		60,002		28,624
General and administrative expenses		252,273		109,436		83,629
		356,038		195,214		129,558

Employee Benefit Trust

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Restricted Shares

The following table summarized the Group's activities of restricted shares held by the Shareholding Platform for the year ended December 31, 2022:

	Number of Restricted Shares			Grant date fair value per share
				US$
Outstanding as of January 1, 2022		11,132,535			3.3
Granted		—			—
Vested		(5,678,981	)		3.0
Forfeited		—			—
Outstanding as of December 31, 2022		5,453,554			3.5