证券代码：301269 证券简称：华大九天 公告编号：2025-020 北京华大九天科技股份有限公司 关于召开 2024 年度股东大会的通知 （1）现场会议时间：2025 年 5 月 20 日下午 2：30 （2）网络投票时间： 通过深圳证券交易所交易系统进行网络投票的时间为 2025 年 5 月 20 日 9:15—9:25，9:30—11:30 和 13:00—15:00； 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 北京华大九天科技股份有限公司（以下简称"公司"）第二届董事会第十四 次会议决定于 2025 年 5 月 20 日下午 2:30 召开 2024 年度股东大会，现将本次 股东大会有关事项通知如下： 一、召开会议的基本情况 1、会议名称：北京华大九天科技股份有限公司 2024 年度股东大会 2、会议召集人：公司第二届董事会 3、会议召开的合法、合规性：经公司第二届董事会第十四次会议审议通过， 决定召开 2024 年度股东大会，召集本次股东大会符合《公司法》等有关法律、 规范性文件以及《公司章程》的规定。 4、会议召开的日期、时间： 通过深圳证 ...

证券代码：301269 证券简称：华大九天 公告编号：2025-015 北京华大九天科技股份有限公司 第二届监事会第十一次会议决议公告 本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 北京华大九天科技股份有限公司（以下简称"公司"）第二届监事会第十一 次会议通知于 2025 年 4 月 11 日以电子邮件等方式向各位监事发出，会议于 2025 年 4 月 25 日在公司会议室以现场表决的方式召开。本次会议应出席监事 3 人， 实际出席监事 3 人，公司董事会秘书列席本次会议。本次会议由监事会主席王博 先生主持。本次会议的召集、召开及表决程序符合《公司法》及《公司章程》的 有关规定。 二、监事会会议审议情况 经与会监事审议表决，本次会议审议通过了以下议案： 1、审议通过《关于北京华大九天科技股份有限公司 2024 年年度报告全文及 其摘要的议案》 监事会认为：董事会编制和审核《北京华大九天科技股份有限公司 2024 年 年度报告》全文及其摘要的程序符合法律、行政法规和中国证监会的相关规 定，报告内容真实、准确、完整地反映了公司的实际情况， ...

证券代码：301269 证券简称：华大九天 公告编号：2025-014 北京华大九天科技股份有限公司 第二届董事会第十四次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 北京华大九天科技股份有限公司（以下简称"公司"）第二届董事会第十四 次会议通知于 2025 年 4 月 11 日以电子邮件等方式向各位董事发出，会议于 2025 年 4 月 25 日在公司会议室以现场及通讯相结合的方式召开。本次会议应出席会 议董事 11 人，实际出席会议董事 11 人，其中董事张尼先生、阳元江先生、张帅 先生、刘方园女士及孙小莉女士以通讯方式参加本次会议，公司监事及其他高级 管理人员列席本次会议。本次会议由董事长刘伟平先生主持。本次会议的召集、 召开及表决程序符合《公司法》及《公司章程》的有关规定。 二、董事会会议审议情况 经与会董事审议表决，本次会议审议通过了以下议案： 1、审议通过《关于北京华大九天科技股份有限公司 2024 年年度报告全文及 其摘要的议案》 公司董事会在全面审核公司 2024 年年度报告全文及其摘要后，一致认为： 公 ...

经大信会计师事务所（特殊普通合伙）审计，公司按合并报表口径 2024 年 度实现归属于母公司所有者的净利润为 109,478,790.34 元，母公司 2024 年度实 现的净利润为 189,960,304.66 元。以母公司 2024 年度实现的净利润为基数，提 取该年度法定盈余公积 18,996,030.47 元后，截至 2024 年 12 月 31 日，合并报 表未分配利润为 346,234,258.95 元，母公司未分配利润为 896,774,915.10 元， 按照合并报表和母公司报表中可供分配利润孰低原则，公司 2024 年度可供股东 分配利润为 346,234,258.95 元。 根据中国证监会鼓励上市公司现金分红，给予投资者稳定、合理回报的指导 意见，在符合利润分配原则、保证公司正常经营和长远发展的前提下，为持续回 报股东，与全体股东共同分享公司发展的经营成果，根据《上市公司监管指引第 3 号—上市公司现金分红》《北京华大九天科技股份有限公司章程》《北京华大九 天科技股份有限公司首次公开发行人民币普通股并在深圳证券交易所创业板上 市后三年股东分红回报规划》等相关规定，公司拟定 2024 年度利 ...

Financial Performance - The company's operating revenue for 2024 was CNY 1,222,354,443.47, representing a 20.98% increase compared to CNY 1,010,402,077.64 in 2023[17]. - The net profit attributable to shareholders for 2024 decreased by 45.46% to CNY 109,478,790.34 from CNY 200,722,810.92 in 2023[17]. - The net cash flow from operating activities for 2024 was negative CNY 51,777,109.44, a decline of 120.83% compared to CNY 248,516,687.44 in 2023[17]. - The total assets at the end of 2024 were CNY 5,628,841,870.04, an increase of 1.69% from CNY 5,535,537,490.15 at the end of 2023[17]. - The company reported a basic earnings per share of CNY 0.20 for 2024, down 45.95% from CNY 0.37 in 2023[17]. - The company incurred a net loss of CNY 57,067,673.63 after deducting non-recurring gains and losses in 2024, a decline of 189.15% compared to a profit of CNY 64,011,757.59 in 2023[17]. - The company received government subsidies amounting to CNY 97,694,098.53 in 2024, down from CNY 117,923,689.26 in 2023[23]. - The company achieved a revenue of 1,222.35 million yuan in 2024, representing a year-on-year growth of 20.98%[90]. - The company reported a net profit of RMB -38.86 million from its subsidiary Shanghai Huada Jiutian Information Technology Co., Ltd[146]. - The company’s subsidiary Shenzhen Huada Jiutian Technology Co., Ltd achieved a net profit of RMB 37.83 million[146]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 1.50 RMB per 10 shares to all shareholders, based on a total of 542,941,768 shares[3]. - The company has not issued any bonus shares, focusing solely on cash dividends for the current distribution plan[3]. - The company plans to distribute cash dividends of 81,441,265.20 yuan in 2024, which is 74.39% of the net profit attributable to shareholders[167]. - The company’s cash dividend payout ratios for 2022 and 2023 were 43.90% and 40.57%, respectively[167]. Research and Development - The R&D investment in the EDA field amounted to approximately 86.81 million yuan, focusing on integrated circuit design and manufacturing tools[32]. - The company has a workforce of 1,202 employees, with 914 (76%) being R&D personnel, indicating a strong focus on research and development[33]. - R&D expenses amounted to 868.12 million yuan, accounting for 71.02% of total revenue, indicating a high level of investment in research and development[101]. - The company increased R&D expenses to 86,812.07 million yuan in 2024, representing 71.02% of revenue, up from 60.98% in 2022[164]. - The company is focusing on developing a comprehensive EDA tool system for 3DIC design and expanding intelligent design EDA solutions[148]. Market Position and Strategy - The EDA industry remains highly concentrated, with the company positioned in the second tier alongside a few competitors, while the top tier is dominated by major players[26]. - The company is recognized as the leading domestic EDA enterprise, with a comprehensive product line and strong technical capabilities[91]. - The company aims to strengthen market expansion strategies to increase its product market share, leveraging the growing demand in China's integrated circuit industry[150]. - The company is committed to becoming a leading global EDA provider, supporting the sustainable development of China's integrated circuit industry[147]. - The company is exploring acquisition opportunities in the semiconductor sector to bolster its technology capabilities[198]. Governance and Management - The company emphasizes the importance of risk awareness regarding future plans and development strategies, indicating potential risks in its operations[3]. - The company has confirmed that all board members attended the meeting to review the annual report, ensuring accountability and transparency[3]. - The company maintains a high level of transparency in information disclosure, utilizing multiple channels for investor communication[173]. - The company has established a complete independent business system, ensuring operational independence from actual controllers[175]. - The company has appointed independent directors to enhance governance and oversight[181]. - The company is focusing on strengthening its governance structure through the election of qualified independent directors[191]. - The company experienced changes in its board, with non-independent directors resigning to support the controlling shareholder's interests[182]. - The company is undergoing a transition in leadership, with the resignation of directors such as Dong Dawei and Yang Xiaodong, effective December 9, 2024[183]. Technological Innovation - The company has developed a comprehensive EDA tool system for various circuit designs, including analog, storage, RF, digital, and advanced packaging, enhancing its market presence in the EDA sector[27]. - The integration of AI technology in EDA tools is expected to lower design thresholds and enhance design efficiency, with applications in code generation and circuit optimization[29]. - The company’s EDA tools are widely used in various fields, including data centers, mobile devices, consumer electronics, automotive electronics, and industrial control, enhancing product competitiveness[54]. - The company has optimized existing products and developed new ones to meet increasing market demands and enhance product functionality[141]. Financial Management - The company has established an independent and complete financial accounting system and management policies, ensuring financial independence from actual controllers and related enterprises[178]. - The company’s operating costs increased by 30.27% to CNY 81.81 million, primarily due to growth in technical services[113]. - The company’s gross margin for the integrated circuit industry was 93.31%, slightly down by 0.47% year-on-year[110]. - The company’s total liabilities increased, indicating a potential rise in financial leverage, although specific figures were not disclosed[17]. Investment and Funding - The total amount raised from the public offering was RMB 3,549,753,292.26, with a net amount of RMB 3,466,025,538.44 after deducting fees[136]. - The company has utilized 59.78% of the total raised funds, amounting to RMB 207,211,020.00[136]. - The company has raised a total of RMB 914.93 million in excess funds, with no specific use determined as of December 31, 2024[141]. - The company plans to enhance its R&D investment to address core shortcomings and optimize existing products, aiming for some products to reach international leading levels[148]. Risk Management - The company faces risks related to technological innovation and product upgrades, which could lead to extended development cycles or loss of market share if competitors release superior products[153]. - The company is committed to improving its international business risk management in response to global trade tensions and varying market conditions[160]. - The company plans to mitigate talent loss risks by optimizing its compensation system and enhancing cooperation with educational institutions to attract more EDA technical talent[155].

Investment Rating - The report maintains a positive outlook on the domestic consumption electronics industry chain, suggesting a focus on companies related to this sector due to the resilience expected under the "reciprocal tariffs" policy [3]. Core Viewpoints - The report highlights that electronic products are a major category in China's exports to the US, with a total export scale of USD 125.8 billion in 2024, accounting for 24% of total exports to the US [3]. - It emphasizes the acceleration of domestic substitution due to increased tariffs, with a recommendation to focus on domestic companies in sectors significantly impacted by import tariffs, such as analog chips, CPUs, and semiconductor equipment [3]. - The report notes that the import tariff rate on all goods from the US has risen to 125%, enhancing the cost advantage of domestic products [3]. Summary by Sections Market Weekly Review - The TMT sector experienced declines across major industries, with electronics down 3.89%, computers down 5.79%, media down 6.78%, and communications down 7.67%, underperforming the CSI 300 index which fell 2.87% [3]. - The top-performing sub-industries included analog chip design (up 6.04%) and semiconductor equipment (up 2.23%), while the worst performers were communication network equipment and devices (down 11.74%) and printed circuit boards (down 10.16%) [3]. Industry News and Key Company Announcements - Significant events in the industry include the Siemens Data Center Ecosystem Conference and the 13th China Electronic Information Expo [16]. - The report mentions that global AI IT investment is projected to reach USD 315.8 billion in 2024, with a compound annual growth rate (CAGR) of 32.9% expected until 2028 [26]. - It also notes that the global generative AI market is anticipated to grow at a CAGR of 63.8%, reaching USD 284.2 billion by 2028, representing 35% of the total AI market investment [26].

华大九天 20250410 • 华大九天作为国产 EDA 龙头，受益于中美贸易摩擦和自主可控政策，有望 加速实现设计和制造全流程工具覆盖，并逐步对标海外巨头，实控人变更 为中国电子，提供资金和产业支持。 • 华大九天计划在 2025 年实现数字全流程工具覆盖，2030 年实现设计和 制造各领域全流程覆盖，通过收并购驱动成长，并积极打造 IP 业务，预计 将成为新的增长极。 • 全球 EDA 市场规模庞大，中国市场占比约 10%，新思科技、Cadence、 西门子 EDA 长期垄断市场。中国政府推动关键技术领域国产化，为华大九 天等国内企业带来发展机遇。 • 华大九天通过收购阿卡斯和星河半导体等公司，不断提升自身竞争力，扩 展技术能力，巩固市场地位，加速追赶海外龙头。 • 预计华大九天 2024-2026 年收入分别为 12.55 亿元、16.07 亿元和 20.38 亿元，对应归母净利润分别为 1.4 亿元、2.38 亿元和 3.56 亿元， 维持买入评级。 Q&A 中美关税升级背景下，EDA 行业的国产替代前景如何？ 在中美关税升级的大背景下，自主可控成为一条重要且鲜明的主线，尤其在知 识密集型产业中的 E ...

作为国产EDA龙头华大九天，可谓全村的希望。这起并购究竟能给公司带来什么？ 本次交易前，上市公司主要产品包括全定制设计平台 EDA 工具系统、数字电路设计 EDA 工具、晶圆 制造 EDA 工具和先进封装设计 EDA 工具等软件及相关技术服务。其中，全定制设计平台 EDA 工具系 统包括模拟电路设计流程 EDA 工具系统、存储电路设计流程 EDA 工具系统、射频电路设计流程 EDA 工具系统和平板显示电路设计流程 EDA 工具系统；技术服务主要包括基础 IP、晶圆制造工程服务及其 他相关服务。公司产品和服务主要应用于集成电路设计、制造及封装领域。 近日，华大九天一则并购公告引发市场关注。 公告显示，华大九天披露筹划发行股份及支付现金购买芯和半导体科技（上海）股份有限公司（以下简 称"芯和半导体"）100%股份的交易预案。 根据交易预案，华大九天拟以102.86元/股的价格向公司实控人中国电子信息产业集团有限公司（以下 简称"中国电子集团"）、中电金投控股有限公司（以下简称"中电金投"）发行股份募集配套资金。此次 募集配套资金总额不超过发行股份购买资产交易价格的100%，且发行股份数量不超过本次发行股份购 买资 ...

Investment Rating - The investment rating for the company has been upgraded to "Buy" [9][36]. Core Views - The company is planning to acquire 100% equity of Chip and Semiconductor, which will enhance its capabilities in the EDA (Electronic Design Automation) sector [6][7]. - The acquisition is expected to solidify the company's position as a leader in the domestic EDA market, especially in the context of increasing demand for domestic software and hardware alternatives [7]. - The EDA industry is experiencing high growth, with the global EDA market projected to reach $3.227 billion in Q3 2024, reflecting an 8.0% year-on-year growth [7]. - The company aims to cover the entire EDA process and field to meet the needs of domestic substitution, leveraging the acquisition to fill product gaps and enhance efficiency [7]. - The financial performance of the company is expected to improve significantly post-acquisition, with projected revenues of 1.224 billion yuan in 2024 and 1.791 billion yuan in 2025, representing growth rates of 21.19% and 46.24% respectively [8]. Summary by Sections Market Data - The closing price of the company is 116.30 yuan, with a market capitalization of 30.508 billion yuan [2]. - The company has a price-to-book ratio of 12.87 and a net asset return rate of 1.19% [2]. Financial Projections - Revenue is projected to grow from 1.010 billion yuan in 2023 to 1.791 billion yuan in 2025, with a net profit forecasted to increase from 201 million yuan to 284 million yuan in the same period [8]. - The earnings per share (EPS) are expected to rise from 0.37 yuan in 2023 to 0.52 yuan in 2025 [8]. Industry Context - The EDA industry is witnessing consolidation, with major players like the company and others actively pursuing acquisitions to enhance their market positions [9]. - The acquisition of Chip and Semiconductor is seen as a strategic move to accelerate growth and improve product offerings in a competitive landscape [7][9].

计算机软件 分析师：唐月 登记编码：S0730512030001 tangyue@ccnew.com 021-50586737 并购优质 EDA 标的，加速打造全流程能 力 ——华大九天(301269)公司点评报告 证券研究报告-公司点评报告 买入(上调) 市场数据(2025-04-08) | 收盘价(元) | 116.30 | | --- | --- | | 一年内最高/最低(元) | 149.54/70.06 | | 沪深 300 指数 | 3,650.76 | | 市净率(倍) | 12.87 | | 流通市值(亿元) | 305.08 | | 基础数据(2024-09-30) | | | 每股净资产(元) | 9.03 | | 每股经营现金流(元) | -0.08 | | --- | --- | | 毛利率(%) | 91.86 | | 净资产收益率_摊薄(%) | 1.19 | | 资产负债率(%) | 7.17 | | 总股本/流通股(万股) | 54,294.18/26,232.14 | | B 股/H 股(万股) | 0.00/0.00 | 个股相对沪深 300 指数表现 -13% 1% 16 ...