EMPYREAN(301269) 新浪财经· Xin Lang Cai Jing·2025-05-08 10:46Core Viewpoint - The company reported a revenue growth in 2024 but faced a significant decline in net profit, while the first quarter of 2025 showed positive trends in both revenue and net profit [1][2]. Financial Performance - In 2024, the company achieved a revenue of 1.22 billion, representing a year-on-year increase of 20.98%, while the net profit attributable to shareholders was 109 million, a decrease of 45.46% [1]. - For the first quarter of 2025, the company reported a revenue of 234 million, an increase of 9.77% year-on-year, and a net profit of 10 million, which is a year-on-year growth of 26.72% [2]. Industry Position and Growth - The company maintained a strong growth in software sales and technical services, solidifying its leading position in the domestic EDA (Electronic Design Automation) market. In 2024, EDA software sales reached 1.09 billion, up 20.71%, and technical service revenue was 115 million, up 40.01% [3]. - As one of the earliest companies engaged in EDA research and development in China, the company has become the largest and most comprehensive EDA enterprise domestically, holding the top market share among local EDA companies in 2024 [3]. Research and Development - The company emphasizes continuous R&D innovation, with R&D expenses amounting to 868.12 million in 2024, accounting for 71.02% of its revenue. It has achieved full-process tool coverage in various circuit design fields and is enhancing its coverage in other EDA areas [3]. - On March 31, 2025, the company announced a plan to acquire 100% of Chip and Semiconductor, aiming to build a comprehensive EDA solution from chip to system level, thereby enhancing the domestic EDA ecosystem [3]. Product and Customer Base - The company's EDA tool software and services cover multiple fields, including various circuit designs and wafer manufacturing. It has nearly 700 global customers, establishing a strong reputation in the industry [4]. - In 2024, the company achieved over 50% coverage in domestic process nodes for PDK (Process Design Kit), with plans for full coverage in the next two to three years [4]. Revenue Forecast - The company forecasts total revenues of 1.65 billion, 2.12 billion, and 2.68 billion for 2025, 2026, and 2027, respectively, with growth rates of 35.28%, 28.47%, and 26.04%. The net profit attributable to shareholders is expected to be 220 million, 337 million, and 470 million, reflecting year-on-year growth of 100.84%, 53.37%, and 39.51% [4].