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Changxin Technology will implement equity incentives for over 6,700 people and will open new stock subscriptions on July 16

According to reports from Jiemian News, the prospectus shows that Changxin Technology has implemented a rare employee stock incentive plan in the semiconductor industry before its listing. The company launched two phases of employee stock ownership plans over four years, granting shares to a total of 6,760 individuals, accounting for 35% of the total number of employees, with a higher proportion of R&D and highly educated personnel. Chairman Zhu Yiming publicly promised to distribute the granted 768 million shares to current employees free of charge within ten years after the company has been listed for 36 months, and he personally committed not to reduce his holdings within ten years after the listing. This initiative aims to retain core talent and stimulate team motivation through a long-term interest-binding mechanism during the lengthy technology catch-up cycle.In terms of performance, benefiting from the AI-driven super cycle in the storage industry, Changxin Technology has achieved a strong turnaround and significant growth. The company expects to achieve revenue of 110 billion to 120 billion yuan in the first half of 2026, a year-on-year increase of more than six times; the net profit attributable to the parent company is expected to reach 50 billion to 57 billion yuan.Previous news: According to the official website of the Shanghai Stock Exchange, Chinese storage giant Changxin Technology disclosed its intention to list on the Sci-Tech Innovation Board and the "Issuance Arrangement and Preliminary Inquiry Announcement" on July 9, officially starting the IPO issuance process on the Sci-Tech Innovation Board. The announcement disclosed that the offline subscription date and online subscription date for the company's new shares are both set for July 16, 2026. The stock code for Changxin Technology/offline subscription code is "688825," and the online subscription code is "787825." This public offering plans to issue approximately 6.688 billion shares (before the exercise of the over-allotment option), while the issuer grants CICC an over-allotment option not exceeding 15.00% of the initial number of shares issued; if fully exercised, the total number of shares issued will increase to approximately 7.691 billion shares.

Vitalik: Maintain an open attitude towards slowing down or pausing AI, and agree to initiate a pause if extreme situations arise

Vitalik posted on the X platform, stating that AI 2040 and its critics have incompatible worldviews regarding the speed and significance of AI progress. AI 2040 believes that unless strong measures are taken to completely prevent it, some form of superintelligence will emerge in various scenarios by 2040; critics argue that AI 2040 underestimates human coordination capabilities and threatens freedom, but do not view ASI itself as a risk of power concentration.He believes that if he were convinced that the current form of AI is just an ordinary technology, he would be closer to the critics' camp; if he were convinced that superintelligence would inevitably arrive by 2030, he would be closer to the AI 2040 camp. At the same time, due to significant uncertainty, he remains open to the idea of slowing down or pausing, and feels uncomfortable with the stance proposed by some large AI companies and intellectuals that "open source is detrimental, and the ideal outcome is to maintain global control dominance."Vitalik stated that an important reason he supports the d/acc platform is that directions such as formal verification, cryptography, secure and open hardware, pandemic resilience, defensive biotechnology, food and basic resource security, public cognitive systems, and non-concentrated power physical security are worth promoting under both worldviews. He also mentioned that the 2040 plan has increasingly supported open source and incorporated the idea of "mutual assured destruction of computational power," which is an improvement compared to allowing a few participants to selectively deprive their identified subjects of rights.There is no way to avoid trade-offs regarding whether to slow down or pause, and Vitalik believes that trigger conditions can be preset, allowing for a more open attitude towards slowing down or pausing when sufficient conditions are met within a specific timeframe.He also stated that if he were Elon Musk or Zuck, he would significantly transform Twitter into a platform that helps identify and facilitate such large win-win agreements, encouraging more people to participate in discussions, but he thinks this might also be naive. Currently, he does not see any non-naive ASI transition response plans, so he tends to show some tolerance towards those who are trying.
2026-07-11
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