华大九天：回应研发费用高企与商业转化效率问题

Core Viewpoint - The company is experiencing high R&D expenses, which are fully expensed in the current period, and is facing challenges in converting these investments into significant revenue growth [1] Group 1: R&D Expenses - The company's R&D expenses for the first three quarters reached 557 million yuan, accounting for 69.2% of its revenue [1] - All R&D investments are expensed as incurred and not capitalized [1] - The company is in a rapid development phase, necessitating an increase in R&D personnel due to growing collaboration projects with strategic clients [1] Group 2: Revenue Growth and Efficiency - Despite high R&D investments, the company has not achieved substantial revenue growth, indicating low commercial conversion efficiency [1] - The EDA software industry is characterized by high technical difficulty and long R&D cycles, requiring a complete toolchain and ecosystem adaptation for successful technology transfer [1] - The conversion of R&D investments into operating revenue requires a certain period [1]