Core Viewpoint - Beijing Yitang Semiconductor Technology Co., Ltd. (Yitang) has filed a lawsuit against Applied Materials, Inc. for allegedly illegally obtaining and using its core technology secrets related to plasma sources and wafer surface treatment, claiming damages of RMB 99.99 million [1][2][11]. Group 1: Legal Action - Yitang has initiated legal proceedings against Applied Materials for violating the Anti-Unfair Competition Law of the People's Republic of China by disclosing and claiming ownership of its technology secrets through a patent application [1][11]. - The lawsuit has been officially filed, but the court has not yet scheduled a hearing [2]. - Yitang asserts that the lawsuit will not significantly impact its operations or production [2]. Group 2: Technology and Employees - The technology in question involves high-concentration, stable, and uniform plasma used for wafer surface treatment, which is critical for Yitang's semiconductor processing equipment [6]. - Two employees from Yitang's wholly-owned subsidiary, Mattson Technology, Inc. (MTI), were recruited by Applied Materials and are believed to have disclosed Yitang's core technology secrets [6][8]. - Evidence suggests that after joining Applied Materials, these employees submitted a patent application to the Chinese National Intellectual Property Administration, which included Yitang's technology secrets [8]. Group 3: Company Background and Financials - Yitang recently went public on the Shanghai Stock Exchange's Sci-Tech Innovation Board on July 8, with an opening day stock price increase of over 200% [12]. - As of August 13, Yitang's stock price was reported at RMB 22.88, with a total market capitalization of RMB 67.623 billion [12]. - For the first quarter of fiscal year 2025, Yitang reported revenues of $7.166 billion, a 7% increase year-over-year, and a net profit of $1.185 billion, reflecting a 41% decrease compared to the previous year [12][13].