AI leader executives taken away! Suspected of bribery, with a huge amount of money

Recently, media reports have reported that Gao, the Executive Director of Intellectual Property of Shangtang Technology, is suspected of bribery by non-state employees and has been placed on file for investigation and forced to take measures. China Securities News reporter Zishang Tang Technology confirmed this news

Recently, media reports have reported that Gao, the Executive Director of Intellectual Property of Shangtang Technology, is suspected of bribery by non-state employees and has been placed on file for investigation and forced to take measures. China Securities News reporter Zishang Tang Technology confirmed this news.

It is reported that the person involved in the case, Gao, has been dismissed by Shangtang Technology. A spokesperson for Shangtang Technology told China Securities News that Gao, the former CEO of Shangtang Technology's intellectual property rights, has been taken mandatory measures by the public security organs due to economic issues.Due to suspected criminal offenses, the police are currently investigating and everything will be subject to the disclosure of information by the police. The company always strictly adheres to business ethics and norms, and has zero tolerance for illegal and irregular behaviors such as corruption.

Gao once promoted the listing of Shangtang Hong Kong Stock Exchange

Recently, there were media reports that Gao, the intellectual property director of Shangtang Technology, was suspected of bribery by non-state employees and has been investigated and taken compulsory measures.

After investigation by the public security organs, the person in charge took advantage of his position to illegally accept bribes from suppliers, resulting in a huge amount of money. At the same time, personnel related to the supplier are suspected of bribing non-state workers and have been filed with the Haidian Branch of the Beijing Public Security Bureau and taken criminal coercive measures.

According to public information, Gao made his appearance at the 13th China Intellectual Property New Year Forum in February this year. On August 25th of this year, he also publicly participated in a discussion organized by Taihe Tai Law Firm on the theme of "rambling on US semiconductor export controls to China and Chinese enterprise response strategies".

The above activity introduction shows that Gao joined Shangtang in October 2017 as the company's export control compliance officer and intellectual property executive director, responsible for Shangtang Group's export control compliance and intellectual property affairs.

After Shangtang was listed as an entity by the US Department of Commerce's BIS in 2019, Gao took on the leadership role of the company's export control compliance and responded to the company's crisis. The company was successfully listed on the Hong Kong Stock Exchange at the end of 2021.

In addition, public information also shows that before joining Tang, Gao served as the Director of Patent Licensing, Director of Patent Operations at Zhigu Company, and Senior Intellectual Property Advisor at Siemens (China) Co., Ltd.

Gao graduated from the Department of Automation at Tsinghua University and obtained a Master's degree in Control Theory and Control Engineering in 2005.

Currently, Gao has been dismissed from Shangtang Technology.

Performance is still in a loss state

At the end of 2021, Shangtang Technology landed on Hong Kong stocks, with its highest stock price reaching HKD 9.7 per share, and then continued to fluctuate and decline. According to Wind data, as of the close on September 29th, the stock price of Shangtang was HKD 1.43 per share, with the latest total market value of HKD 47.9 billion.

Since the end of 2022, the AI big model has become a focus of market attention. Shangtang Technology has released the "Nissin" big model and also deployed relevant intelligent computing facilities.

According to financial reports, in the first half of this year, Shangtang continued to upgrade its intelligent computing infrastructure SenseCoreAI large device, increasing the number of online GPUs from 27000 at the end of March to about 30000 just now, and increasing its computing power scale from 5ExaFLOPS to 6ExaFLOPS. Since 2023, over 1000 large models with billions to hundreds of billions of parameters have been trained on large devices, supporting dozens of generative AI applications.

But currently, the large model does not cover the huge losses of Shangtang Technology. In the past three years, the company has accumulated a net loss of over 35 billion yuan. According to the mid-term financial report of Shangtang Technology in 2023, in the first half of 2023, Shangtang Technology achieved a revenue of 1.43 billion yuan, a year-on-year increase of 1.3%; The net loss reached 3.14 billion yuan, with an adjusted net loss of 2.39 billion yuan.

Image source: Company announcement

Shangtang has recently been embroiled in a wave of layoffs. According to media reports, Shangtang's layoffs this time are the second large-scale layoffs in the past year.

Shangtang has responded by saying, "The company has made corresponding strategic adjustments based on changes in the market environment and its own development status, and optimized its organization and talent structure to better meet the needs of business development. Currently, the overall development of the company is good, and excellent social talents and college graduates will continue to be introduced

Editor in Chief: Shi Jian | Reviewed by: Li Zhen | Supervised by: Wan Junwei

(Source: China Securities News)

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