(Yicai Global) March 15 -- Shares of Cambricon Technologies slumped after the Chinese chipmaker announced that Liang Jun, a key chip architecture expert, had quit because of a disagreement with the company.

Cambricon [SHA: 688256] ended 18.4 percent lower today at CNY66.02 (USD11.28). The broader Shanghai market sank almost 5 percent.

Liang’s resignation will have little impact on Cambricon’s research and development capabilities, the Beijing-based artificial intelligence chip and software developer said late yesterday. It has 1,228 R&D staff, accounting for more than 80 percent of the total workforce, and has set up a qualified talent team that does not rely on individual core tech professionals, the firm said.

Cambricon did not give any details about the reason for Liang’s departure, but said he will be subject to a two-year non-compete agreement.

Liang, who earlier worked for Huawei Technologies and the Chinese telecom giant’s chip unit Hisilicon, was vice president and chief technology officer at Cambricon from 2017 to Jan. 19, when the company announced that he had stepped down from the roles. He was then named chief expert at a chip innovation center under the company.

Liang obtained 14 patents together with other researchers during his time at Cambricon, and more than 100 patents are still under review, the company said, noting that it owns the intellectual property and Liang’s departure will not affect the integrity of its IP.

Founded in 2016, Cambricon develops core processor chips for AI and its underlying system software. The firm’s goal is to provide ample computing for complex AI application scenarios including for the internet, finance, transport, energy, and manufacturing, according to its website.

Editor: Futura Costaglione