Loongson Must Pay CIP $3.21 Million in Royalties

What’s new: Loongson Technology Corp. Ltd. (688047.SH) must pay 23.2 million yuan ($3.21 million) in royalties to CIP United Co. Ltd., owner of exclusive rights in China to MIPS Technologies Inc.’s chip architecture, based on a partial final arbitration ruling in a four-year legal battle.

Loongson said Monday in a filing that the Hong Kong International Arbitration Center Arbitration Tribunal rejected six of seven arbitration claims raised by CIP and listed one item as an unresolved matter in the dispute between the two Chinese companies. The ruling covers royalties owed before tax as of March 31, Loongson said. Late payment and arbitration fees are subject to further confirmation.