The latest buzz on Maimai today: Shudian Technology has been defaulting on salaries on a large scale, with all promised stock options now rendered invalid.

An insider has disclosed that Shudian Technology, founded two years ago by Dr. He Changhua, a former P10 executive at Ant Group, has been defaulting on salaries in recent months. Some production and research staff have gone unpaid for at least three months. Additionally, the company reportedly installs monitoring software on computers and takes screenshots of WeChat conversations.

The insider remarked, "Among the startups established by Alibaba alumni, Shudian Technology appears to be the only one facing salary default issues."

Earlier this year, most of Shudian Technology's key R&D personnel resigned. The majority of these individuals were P7-P9 level experts poached from companies like Tencent and Ant Group during the company's nascent stages.

According to public information, the company's legal representative was changed to Dr. He Changhua on November 15, with the original legal representative, Jiang Jin, also recently resigning.

Former employees have revealed that during the company's early stages, it promised original shares to all employees from large companies. However, these promises have now been voided. Departing employees are not allowed to take these shares with them or have them repurchased, and they are informed to consider the company as bankrupt.

It is reported that none of the departing employees received the stock options or bonuses that were promised to them.

Currently, Shudian Technology has not issued an official statement regarding the various rumors circulating online.

About Shudian Technology

Founded in 2022 with a registered capital of 1.1764 million yuan, Beijing Shudian Technology Co., Ltd. specializes in big data computing and artificial intelligence. The company is dedicated to developing enterprise-level data intelligence technology, fully unleashing the value of large models and big data for businesses, and assisting enterprises in making intelligent decisions.

In July 2023, Shudian Technology completed an angel round of funding amounting to hundreds of millions of Chinese yuan, led by Apex Capital and Legend Capital, with Ningbo Jilian Private Equity Fund as a follow-on investor.

The company's founder, Dr. He Changhua, is an expert in talent programs, holding a bachelor's degree from Tsinghua University and a Ph.D. from Stanford University. He was previously the Chief Architect of Computing and Storage at Ant Group. With over 20 years of study and work experience in Silicon Valley, including senior positions at Google and Airbnb, he focused on artificial intelligence and big data systems. In 2017, he returned to China to develop multiple practical systems and founded Shudian Technology in March 2022.

Shudian's core strengths lie in its data-driven industry large models, including the self-developed data virtualization engine X-Engine, as well as the enterprise agent construction platform AskBot, generative intelligent knowledge base AskDoc, and AskDI data application product line built on large models.

On June 25, 2024, Shudian Technology held the "2024 Intelligent Leadership Online Summit and New Product Launch," unveiling an end-to-end enterprise large model solution and generative intelligent analysis tool AskBI.