EMPYREAN(301269)2024-04-28 08:07Financial Performance - The company's operating revenue for 2023 was ¥1,010,402,077.64, representing a 26.61% increase compared to ¥798,060,770.75 in 2022[20]. - The net profit attributable to shareholders for 2023 was ¥200,722,810.92, an increase of 8.20% from ¥185,508,367.58 in 2022[20]. - The net profit after deducting non-recurring gains and losses was ¥64,011,757.59, which is a significant increase of 102.02% compared to ¥31,686,110.62 in 2022[20]. - The total assets at the end of 2023 were ¥5,535,537,490.15, a 2.59% increase from ¥5,395,667,290.61 at the end of 2022[20]. - The net assets attributable to shareholders increased by 2.82% to ¥4,783,344,777.09 from ¥4,652,089,046.87 in 2022[20]. - The company reported a basic earnings per share of ¥0.37, down 5.13% from ¥0.39 in 2022[20]. - The weighted average return on net assets decreased to 4.26% from 7.33% in 2022, a decline of 3.07%[20]. - The company achieved a revenue of 1.01 billion CNY in 2023, representing a year-on-year growth of 26.61%[81]. - Net profit for the year was 200.72 million CNY, reflecting an increase of 8.20% compared to the previous year[84]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 1.5 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, indicating a focus on cash dividends rather than stock distribution[3]. - The company plans to distribute a cash dividend of CNY 1.50 per 10 shares for 2023, totaling CNY 81,441,265.20, which is 40.57% of the net profit attributable to shareholders[157]. Risk Management and Compliance - The report emphasizes the importance of risk awareness regarding future plans and development strategies, indicating potential risks and countermeasures[3]. - The financial report is guaranteed to be true, accurate, and complete by the company's responsible personnel, including the CEO and accounting head[3]. - The report highlights the company's adherence to legal responsibilities regarding the accuracy of financial disclosures[3]. - The company has established a framework for evaluating risks associated with its operational strategies, which is detailed in the management discussion section[3]. - The company faces risks related to technological innovation and product upgrades, which could lead to extended R&D cycles or unmet expectations if misjudgments occur[146]. - The company is at risk of talent loss or shortages due to high competition for skilled professionals in the EDA industry, necessitating better development platforms and compensation[147]. - The company is monitoring changes in national policies that could impact the integrated circuit and software industries, which are crucial for its operations[148]. - The company recognizes the competitive pressure from major international EDA firms and aims to enhance its R&D investment to improve product competitiveness[151]. - The company is focused on mitigating risks from international trade frictions that could affect its business operations and market expansion[152]. - The company is enhancing its international management capabilities to address potential risks from overseas operations and varying market conditions[153]. Research and Development - The R&D investment in the EDA field for the reporting period amounted to approximately 68.48 million yuan, focusing on integrated circuit design and manufacturing[36]. - The company invested heavily in the development of foundational IP, completing dozens of designs and validations to support client product designs[73]. - The company’s R&D investment amounted to ¥684,788,370.67 in 2023, representing 67.77% of its operating revenue, an increase from 60.98% in 2022[114]. - The number of R&D personnel increased by 40.22% from 552 in 2022 to 774 in 2023, with a significant rise in master's degree holders by 53.80%[114]. - The company is focusing on enhancing EDA tools for circuit simulation and digital analysis, aiming to improve functionality and performance[113]. - The company is actively upgrading its simulation and verification tools to meet advanced process design requirements, enhancing its competitive edge in the industry[113]. - The company is developing a comprehensive EDA tool system for specific chip designs, including memory and RF chips, to strengthen its market position[113]. Product Development and Innovation - The company has developed a comprehensive EDA tool system for various circuit designs, including analog, digital, and RF circuits, contributing to market breakthroughs[30]. - The company launched new EDA tools for storage and RF circuit design during the reporting period, expanding its product offerings[38]. - The company launched a new full-process EDA tool system for storage circuit design and RF circuit design during the reporting period[156]. - The company has introduced the Argus PERC module for electrical rule checks, enhancing reliability design analysis for storage circuits[48]. - The new AetherMW platform for compound RF circuit design is the only complete EDA tool system of its kind in China, providing a full range of solutions from circuit design to verification[51]. - The company’s circuit simulation tool ALPS has received certification from Samsung Foundry for 8nm and 5nm processes, indicating its capability in advanced technology nodes[44]. - The company’s tools have achieved ISO 26262 TCL3 and IEC 61508 T2 certifications, supporting the highest ASIL D level for automotive safety integrity[44]. - The company has developed a parasitic parameter extraction tool RCExplorer, which improves extraction efficiency for complex device structures[49]. - The company launched the ApexSyn logic synthesis tool, which automates the synthesis from RTL design to gate-level netlist, optimizing performance, area, and power consumption[58]. - The company introduced the GoldMask lithography mask data processing and verification analysis platform, which includes tools for data conversion, rule checking, and data viewing[66]. Market Position and Strategy - The company operates in the EDA tools sector, which is a strategic pillar of the integrated circuit industry, with a high market concentration[29]. - The company ranks in the second tier of the global EDA industry, competing with leading firms in specific areas of the market[29]. - The company has established subsidiaries in multiple locations including the US, South Korea, Japan, and several cities in China, enhancing its regional strategic collaboration and customer engagement[87]. - The company aims to promote the domestic integrated circuit industry's self-sufficiency by providing comprehensive EDA solutions that can replace foreign products[95]. - The company is focused on enhancing market expansion and increasing its product market share, leveraging the growing demand in the Chinese integrated circuit industry[142]. - The company is considering strategic acquisitions to enhance its product offerings, with a budget of $100 million allocated for potential mergers[170]. Corporate Governance and Management - The company has no controlling shareholder or actual controller, ensuring independence in asset and financial management[164]. - The company is committed to enhancing corporate governance and improving information disclosure quality[160]. - The board of directors has undergone changes, with three new members elected to enhance governance and strategic direction[168]. - The board of directors held a total of 7 meetings during the reporting period, with all members attending the meetings either in person or via communication methods[188]. - The company has established a long-term incentive mechanism to attract and retain talent, enhancing its core talent team[161]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 16.25 million[186]. - The company strictly adhered to the remuneration decision-making procedures during the reporting period[185]. Employee Development and Workforce - The workforce consists of 1,023 employees, with 774 in R&D, representing 76% of the total, highlighting a strong focus on research and development[37]. - The company has established a comprehensive training system, including onboarding training for new employees and ongoing professional development[200]. - The company emphasizes a combination of short-term and long-term incentives to enhance employee motivation and creativity[198]. - The educational background of employees shows that 580 hold a master's degree, representing approximately 56.7% of the total[197]. - The company conducts regular training programs, including "Jiutian Gas Station" sessions for all employees to improve talent development[200].