PRIMARIUS(688206)2024-04-12 16:00Product Development and Innovation - The company has launched a new parameter testing system for MEMS sensor microstructures and a complete automatic measurement solution (ATS), enhancing its testing product portfolio [2]. - The company has developed a one-stop baseband and RF model extraction and verification technology, integrating data analysis and model simulation [23]. - The company has developed a new generation of model parameter extraction platforms, enhancing automation and efficiency in parameter extraction [31]. - The company has developed a proprietary time decay method technology for MEMS device testing, improving testing efficiency for Q values and resonance frequencies [25]. - The company has developed over 40 core EDA products and services, with 29 invention patents and 80 software copyrights, totaling 112 effective intellectual properties [60]. - The company is committed to continuous innovation and product development to maintain its competitive edge in the EDA market [60]. - The company aims to develop EDA products that are widely validated and used by leading global integrated circuit design and manufacturing enterprises [187]. - The company is focusing on the memory chip sector to capitalize on its first-mover advantage in EDA innovation [188]. Market Position and Strategy - The company has established a high market position for its device modeling and verification EDA tools, adopted by major global foundries such as TSMC and Samsung [18]. - The company is positioned in a highly concentrated EDA market, dominated by three major players, indicating a competitive landscape [181]. - The company is benefiting from national policies promoting domestic integrated circuit and software innovation, which may enhance its market position [182]. - The company is expected to leverage its core EDA products to establish a strong industry presence through continuous R&D investment and strategic acquisitions [183]. - The company plans to leverage government support to rapidly grow as a domestic EDA platform enterprise, focusing on strategic mergers and acquisitions to enhance its market position [191]. Research and Development - The number of R&D personnel increased to 358, accounting for 70.06% of the total workforce, up from 64.74% in the previous period [33]. - The total compensation for R&D personnel reached ¥15,356.61 million, compared to ¥10,149.26 million in the previous period [33]. - The company's total R&D investment for 2023 reached CNY 236,978,159.79, a year-on-year increase of 69.45% compared to CNY 139,852,136.06 in 2022 [61]. - R&D expenses accounted for 72.05% of total revenue in 2023, an increase of 21.84 percentage points from 50.21% in the previous year [61]. - The company is committed to enhancing its intellectual property rights protection, which is crucial for its competitive advantage in the EDA sector [182]. - The company aims to accelerate R&D progress and enhance product diversity, with a focus on independent R&D and external collaboration to broaden the product line [166]. Financial Performance - The company's main business revenue for 2023 reached 327.71 million RMB, representing a year-on-year growth of 18.29% [87]. - The average revenue contribution per customer increased to 2.20 million RMB, with a slight growth of 0.03% year-on-year [87]. - The semiconductor device characterization testing system revenue was 82.39 million RMB, with a year-on-year increase of 33.78% [88]. - The gross margin for the integrated circuit design EDA software segment was 100%, with a year-on-year increase of 0.04 percentage points [88]. - The company's operating revenue increased by 18.07% compared to the same period last year, driven by the expansion of product lines and growth in EDA licensing tools, testing instruments, and technical development solutions [102]. - Operating costs rose by 51.51% year-on-year, primarily due to increased raw material costs, higher service complexity, and rising labor costs [102]. Challenges and Risks - The EDA industry faces high barriers to entry due to the complex and technical nature of the field, making it difficult for new entrants to compete [15]. - The company faces risks related to talent retention and rising personnel costs in the highly competitive EDA industry [45]. - The company faces risks related to continuous losses due to increased R&D and stock-based compensation expenses [74]. Global Expansion and Collaboration - The company is accelerating its global layout, aiming for globalization in market, capital, and talent, making it one of the most internationalized EDA companies in China [36]. - The company is actively expanding its overseas business, with foreign revenue slightly exceeding domestic revenue during the reporting period [50]. - The company collaborates with leading integrated circuit enterprises to advance process nodes and continuously innovate processes [13]. Governance and Compliance - The company’s governance structure has been continuously improved to ensure compliance with relevant laws and regulations [192]. - The company has approved the 2023 Restricted Stock Incentive Plan and its implementation assessment management measures during the shareholder meetings [170]. Investment and Acquisitions - The company has made significant investments in R&D, with new products being launched to enhance competitiveness against international rivals [94]. - The company has acquired two subsidiaries and established two new companies to expand its operational scope [112]. - The company is actively participating in the establishment of industrial funds and related transactions, indicating a strategic focus on investment management [171].