SHARE-BASED COMPENSATION (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| SCHEDULE OF FORTH THE SHARE OPTIONS ACTIVITY |
The
following table sets forth the share options activity for the years ended December 31, 2024 and 2025:
SCHEDULE
OF FORTH THE SHARE OPTIONS ACTIVITY
| | |
| | |
| | |
Weighted | | |
| |
| | |
| | |
Weighted | | |
Average | | |
| |
| | |
| | |
Average | | |
Remaining | | |
Aggregate | |
| | |
Number of | | |
Exercise | | |
Contractual | | |
Intrinsic | |
| | |
Shares | | |
Price | | |
Years | | |
Value | |
| | |
| | |
US$ | | |
| | |
US$ | |
| Outstanding as of January 1, 2024 | |
| 2,404,681 | | |
| 0.79 | | |
| 2.98 | | |
| 7,671 | |
| Granted in 2024 | |
| 1,965,500 | | |
| 1.92 | | |
| | | |
| | |
| Forfeited in 2024 | |
| (8,800 | ) | |
| 1.74 | | |
| | | |
| | |
| Outstanding as of December 31, 2024 | |
| 4,361,381 | | |
| 1.30 | | |
| 5.59 | | |
| 6,407 | |
| Granted in 2025 | |
| 90,000 | | |
| 2.03 | | |
| | | |
| | |
| Exercised in 2025 | |
| (385,092 | ) | |
| 0.33 | | |
| | | |
| | |
| Forfeited in 2025 | |
| (20,000 | ) | |
| 2.03 | | |
| | | |
| | |
| Expired in 2025 | |
| (245,500 | ) | |
| 1.24 | | |
| | | |
| | |
| Outstanding as of December 31, 2025 | |
| 3,800,789 | | |
| 1.42 | | |
| 5.66 | | |
| 871 | |
| Vested or expected to be vested as of December 31, 2025 | |
| 3,800,789 | | |
| 1.42 | | |
| 5.66 | | |
| 871 | |
| Exercisable as of December 31, 2025 | |
| 2,795,789 | | |
| 1.25 | | |
| 4.46 | | |
| 791 | |
|
| SCHEDULE OF FAIR VALUE OF THE OPTIONS GRANTED |
The
Company did not grant any share options in 2023. The fair value of the options granted in 2024 is estimated on the date of grant using
the binomial option pricing model with the following key assumptions used:
SCHEDULE OF FAIR VALUE OF THE OPTIONS GRANTED
| | |
Year Ended
December 31, 2024 | |
| | |
| |
| Risk-free rate of return (per annum) | |
| 4.58% | |
| Volatility | |
| 100.09% | |
| Expected dividend yield | |
| 0% | |
| Exercise multiple | |
| 2.2~2.8 | |
| Fair value of underlying ordinary share | |
| 2.77 | |
| Expected term | |
| 10 years | |
The
fair value of the options granted in 2025 is estimated on the date of grant using the Black-Scholes option pricing model with the following
key assumptions used:
| | |
Year
Ended
December 31, 2025 | |
| | |
| |
| Risk-free rate of return (per annum) | |
4.58% | |
| Volatility | |
90.17% | |
| Expected dividend yield | |
0% | |
| Fair value of underlying ordinary share | |
2.98 | |
| Expected term | |
10 years | |
|
| SCHEDULE OF FORTH THE CLASS A RESTRICTED SHARE UNITS ACTIVITY |
The
following table sets forth the Class A restricted share units activity for the years ended December 31, 2024 and 2025:
SCHEDULE
OF FORTH THE CLASS A RESTRICTED SHARE UNITS ACTIVITY
| | |
| | |
Weighted | |
| | |
Number of | | |
Average | |
| | |
Restricted | | |
Grant Date | |
| | |
Shares | | |
Fair Value | |
| | |
| | |
US$ | |
| Outstanding as of January 1, 2024 | |
| 5,299,000 | | |
| 3.96 | |
| Granted in 2024 | |
| 72,000 | | |
| 2.38 | |
| Vested in 2024 | |
| (2,645,000 | ) | |
| 3.96 | |
| Outstanding as of December 31, 2024 | |
| 2,726,000 | | |
| 3.94 | |
| Granted in 2025 | |
| 1,000,000 | | |
| 0.74 | |
| Vested in 2025 | |
| (1,351,750 | ) | |
| 3.94 | |
| Outstanding as of December 31, 2025 | |
| 2,374,250 | | |
| 2.57 | |
|
| SCHEDULE OF SHARE BASED COMPENSATION OF SHARE OPTIONS AND CLASS A RESTRICTED SHARE UNITS |
Total
share-based compensation expenses of share options and Class A restricted share units were allocated to the following expense items:
SCHEDULE
OF SHARE BASED COMPENSATION OF SHARE OPTIONS AND CLASS A RESTRICTED SHARE UNITS
| | |
2024 | | |
2025 | |
| | |
Year Ended December 31, | |
| | |
2024 | | |
2025 | |
| | |
RMB | | |
RMB | |
| | |
| | |
| |
| Cost of revenue | |
| 7,711 | | |
| — | |
| Selling and marketing expenses | |
| 40,445 | | |
| 11,457 | |
| General and administrative expenses | |
| 49,084 | | |
| 15,032 | |
| Research and development expenses | |
| 62,787 | | |
| 19,941 | |
| Total | |
| 160,027 | | |
| 46,430 | |
|