Ubisoft have yet to go on record about Far Cry 4, but evidence continues to mount in the meantime. Joystiq have managed to spot the LinkedIn profile of Xavier Plagnal, studio design manager at Ubisoft Shanghai, have lists his activities as working on "the next Far Cry".
The question now is whether Ubisoft Shanghai have been given full control of the project or whether they are working on some specific aspect of it such as multiplayer.