Core Viewpoint - The new regulation from the Trump administration on May 28 prohibits leading EDA software companies from selling products to Chinese enterprises, marking an escalation in the US-China technology decoupling trend [1][2]. Group 1: Impact of EDA Export Ban - The EDA export ban is expected to accelerate the domestic substitution process in China, although its immediate impact is difficult to quantify [2]. - EDA tools are crucial for the semiconductor supply chain, assisting engineers in modeling, verifying, and simulating chip architectures [2]. - Following the announcement of the new regulation, the stock prices of Synopsys and Cadence fell by 9.6% and 10.7%, respectively [2]. Group 2: Company-Specific Insights - Baker Micro's self-developed EDA platform will shield it from export restrictions, allowing it to benefit from the current export limitations [3]. - Baker Micro has integrated over 600 IP modules and established a complete tool-IP-design framework, significantly lowering the barriers to chip design [3]. - The company is viewed as a major beneficiary of the domestic substitution trend in semiconductors, with a target price of HKD 69.5, indicating a potential upside of 22.4% [3].
贝克微(2149.HK)：潜在的EDA禁令不会阻碍公司成长