Nearly 20,000 employees at Changxin will receive over one million yuan

July 16, coinciding with Changxin’s IPO subscription launch worth 29.5 billion yuan, the founder’s generous equity incentive plan has been revealed.

The prospectus shows that Changxin currently has 19,298 employees. Chairman Zhu Yiming voluntarily donated 768 million shares he personally held to current employees free of charge. The market estimates the total value of these shares exceeds 20 billion yuan, meaning each employee would theoretically receive over one million yuan—making this the largest individual equity incentive in A-share history.

This equity cannot be immediately cashed out: it will be distributed gradually over 10 years, starting three years after the company’s listing. Previously, the two rounds of shareholding covered only 6,760 core employees, leaving new hires without access to original shares; however, this time, the founder’s share offering is open to all current employees, though those who leave before full vesting will lose their unvested portions.

Netizens hold divided opinions: some praise the company for generously sharing profits with chip industry workers, while others lament that although the million-dollar incentives look tempting, they require years of grueling overtime and hard work to obtain, and industry cycle fluctuations may still affect the actual returns on equity.