Cambricon(SH:688256) Jing Ji Guan Cha Bao·2025-11-02 06:51Core Viewpoint - The lawsuit filed by former executive Liang Jun against Cambrian is centered on the claim of a labor relationship and compensation for stock incentive losses amounting to 4.287 billion yuan, but legal experts suggest that Liang's claims lack contractual basis [1][2][3] Group 1: Legal Context - Liang Jun's core demands include the recognition of a labor relationship with Cambrian from October 18, 2017, to February 10, 2022, and compensation for stock incentive losses of 4.287 billion yuan [1] - Legal experts indicate that Liang's claim is undermined by the signed "Equity Incentive Plan," which altered the terms of the initial "Letter of Intent" regarding stock incentives [2][3] - A previous arbitration ruling stated that Liang must adhere to the terms of the "Equity Incentive Plan" for determining stock incentive conditions, suggesting a low likelihood of the court ruling in favor of Liang [3] Group 2: Financial Implications - The amount in dispute is based on the valuation of approximately 11.52 million shares held by Liang, which, at the peak stock price of 372 yuan, corresponds to a market value of 4.287 billion yuan [7] - Cambrian's stock price increased from 78.92 yuan to 1375 yuan from the date of Liang's departure to the latest trading day, representing a 16.42-fold increase in value [7] - Cambrian reported a revenue of 1.727 billion yuan in Q3, a year-on-year increase of 1332.52%, and a total revenue of 4.607 billion yuan for the first three quarters, reflecting a growth of 2386.38% [7] Group 3: Company Operations - Cambrian asserts that the ongoing dispute regarding indirect shareholding does not impact its daily research and operations [8] - The company is positioned as a leader in domestic computing power chips, with enhanced supply capabilities and continuous breakthroughs in downstream clients, indicating a strong future growth trajectory [7]