85% of employees are eligible! Cambricon issues equity incentive plan: 3-year revenue target exceeds 100 billion yuan

Cambricon, the leading AI chip company, announced its 2026 restricted stock incentive plan (draft) on the evening of July 28, proposing to grant 5 million restricted shares to incentive recipients, accounting for 0.80% of the company's total share capital, at a grant price of 750 yuan per share.

The company-level performance assessment targets for Cambricon are: operating revenue for 2026 not less than 13.5 billion yuan, cumulative operating revenue for 2026–2027 not less than 40.5 billion yuan, and cumulative operating revenue for 2026–2028 not less than 100 billion yuan (approximately 14.8 billion USD).

Compared to the cumulative revenue target of 4.6 billion yuan for 2024–2026 set in the previous incentive plan three years ago, the new target has increased nearly 20 times.

The initial grant involves 4 million shares, covering 945 incentive recipients, accounting for 85.37% of the company's total workforce of 1,107 employees (as of December 31, 2025). Incentive recipients include directors, senior management, core technical staff, and mid-level management.

Incentive recipients are divided into three categories with differentiated assessments. The first category includes 245 individuals assessed over the three years from 2026 to 2028, applying revenue targets. The second category includes 692 individuals assessed over the two years from 2027 to 2028. The third category includes 8 senior managers, with additional assessment criteria requiring net profit in 2027 to grow by no less than 300% compared to the 2025 baseline, and no less than 500% growth in 2028.

Based on the closing price of 1,146.90 yuan on July 29, the total value of the 5 million restricted shares is approximately 5.735 billion yuan. The grant price of 750 yuan per share represents a discount of approximately 34.60% from that day's closing price. The plan is subject to approval by the company's shareholders' meeting before implementation.