Cambricon sets $14.8B revenue target in staff incentive plan

Cambricon, a Chinese AI chip manufacturer, has established a revenue target of 13.5 billion yuan ($1.86 billion) for the year 2026, with an additional goal of 40.5 billion yuan for the combined years of 2026-2027, linked to an employee incentive program. The company, listed in Shanghai, plans to allocate 5 million restricted shares (representing 0.8% of its total capital) at a price of 750 yuan per share, benefiting over 85% of its 1,107 employees. This ambitious target signifies a nearly 20-fold increase from a previous objective of 4.6 billion yuan set three years ago for cumulative revenue from 2024 to 2026. Eligible participants include board directors, senior executives, core technical staff, and mid-level managers. As of noon Wednesday, shares are trading at 1,100 yuan. This strategy is designed to help retain talent amid growing competition in the domestic AI chip sector.