Cambricon ties US$14.8 billion revenue goal to restricted share grants
Shanghai-listed AI chipmaker Cambricon has unveiled a sweeping restricted share plan tied to aggressive multi-year revenue targets, signaling an urgent effort to lock in technical talent amid fierce domestic competition.
Shanghai-listed artificial intelligence chipmaker Cambricon announced a new restricted share grant tied to aggressive multi-year revenue targets, according to stock exchange filings. The company aims to generate US$14.8 billion in cumulative revenue over the next three years to unlock the equity awards.
The initiative involves granting 5 million restricted shares, representing 0.8 per cent of the company’s total share capital. Eligible employees will receive these shares at a fixed grant price of 750 yuan per share. This pricing reflects a notable discount to the 1,100 yuan per share trading price recorded at noon on Wednesday.
This broad equity plan extends to more than 85 per cent of the 1,107 employees recorded at the close of 2025. Eligible participants span board directors, senior executives, core technical personnel and mid-level managers. The wide distribution underscores a strategic push to retain essential staff.
The financial hurdles required to vest the shares represent a massive escalation in corporate expectations. The new targets mark a nearly 20-fold increase from a previous three-year plan established just three years ago. That older initiative had aimed for a much more modest 4.6 billion yuan in cumulative revenue from 2024 to 2026.
Cambricon established strict interim milestones to ensure steady progress toward the broader financial objective. The firm requires more than 13.5 billion yuan in revenue for the 2026 financial year alone. Following that, the company must generate 40.5 billion yuan across the combined 2026 and 2027 period to fully satisfy the plan's conditions.
These aggressive commercial targets reflect the broader realities of the regional technology sector. The initiative highlights the intensifying competition among firms racing to develop and commercialize domestic artificial intelligence chips. By tying substantial equity directly to top-line growth, the company is attempting to secure the technical expertise necessary to navigate this crowded market.
