Cambricon(SH:688256) Jin Shi Shu Ju·2025-11-02 02:44Core Viewpoint - The lawsuit filed by former executive Liang Jun against Cambricon Technologies seeks to confirm an employment relationship and claims compensation for stock incentive losses amounting to 4.287 billion yuan, but legal experts suggest that Liang's claims lack contractual basis [1][2][4]. Group 1: Legal Context - Liang Jun's core demands include recognition of his employment relationship with Cambricon from October 18, 2017, to February 10, 2022, and compensation for stock incentive losses [1]. - Legal experts indicate that Liang's claims are undermined by the signed "Equity Incentive Plan," which altered the terms of the initial "Letter of Intent" he signed upon joining the company [2][4]. - Previous arbitration rulings have supported the notion that Liang must adhere to the terms of the "Equity Incentive Plan" regarding stock incentives, which he signed after the "Letter of Intent" [3][4]. Group 2: Financial Implications - The lawsuit is not expected to have a direct financial impact on Cambricon, as the stock incentive claims are tied to a partnership structure rather than direct ownership of shares [7][9]. - Liang Jun indirectly held approximately 11.52 million shares of Cambricon, with a market value of 4.287 billion yuan calculated at the stock's peak price [8]. - Cambricon's stock price has significantly increased from 78.92 yuan per share at Liang's departure to 1,375 yuan per share, representing a 16.42-fold increase in value [8]. Group 3: Company Performance - Cambricon has shown remarkable growth, with Q3 revenue reaching 1.727 billion yuan, a year-on-year increase of 1,332.52%, and a projected annual revenue of 5 to 7 billion yuan for 2025 [8]. - The company has turned a profit in Q3 with a net profit of 567 million yuan, contributing to a total net profit of 1.605 billion yuan for the first three quarters of the year [8].