新凯来“从0到1”，国产芯片关键工具破局

Core Insights - New Kai Lai's subsidiary Wanliyan has developed a 90GHz bandwidth real-time oscilloscope, positioning itself as a leader in high-end electronic measurement instruments in China, overcoming Western technology restrictions [1][11][14] - The company has also launched two EDA software products with complete independent intellectual property rights, filling a gap in the domestic high-end electronic design software market [2][10][17] - New Kai Lai is seen as a key player in China's semiconductor self-sufficiency movement, with its innovations expected to reshape the industry and investment landscape [7][14][17] Company Overview - New Kai Lai was established in August 2021 and is headquartered in Longgang District, Shenzhen, covering approximately 200,000 square meters with multiple R&D branches across China and plans for international expansion [4][5] - The company operates eight subsidiaries, each focused on achieving breakthroughs in semiconductor manufacturing technologies [6] Product Innovations - Wanliyan's oscilloscope is the first of its kind in China to exceed 60GHz bandwidth, addressing significant supply challenges in high-end electronic measurement instruments [11][16] - The EDA software from Qiyunfang is designed to support seamless switching between domestic and foreign software, reducing development cycles by 40% and enhancing design capabilities [10][17] Market Impact - New Kai Lai's advancements are expected to disrupt the reliance on foreign equipment in the semiconductor industry, with significant purchases from institutions like Shanghai Jiao Tong University indicating growing acceptance of domestic products [15][16] - The launch of these products has led to a positive response in the capital markets, with related stocks experiencing significant gains [17] Strategic Importance - The emergence of New Kai Lai is viewed as a critical signal for the enhancement of China's semiconductor supply chain capabilities, moving from merely filling gaps to establishing foundational technologies [17] - The company's growth trajectory reflects a broader shift in the investment landscape, directing funds towards core technology sectors such as semiconductors and artificial intelligence [17]