EMPYREAN(SZ:301269) 招商电子·2025-05-06 13:49Core Viewpoint - The article discusses the financial performance and strategic developments of Huada Jiutian, highlighting its growth potential in the EDA (Electronic Design Automation) industry and the impact of recent acquisitions and market conditions on its future prospects [1][2][3][4]. Financial Performance Summary - In Q1 2025, Huada Jiutian reported revenue of 234 million yuan, a year-on-year increase of 9.8% but a quarter-on-quarter decrease of 51.1%, with a net profit attributable to shareholders of 9.71 million yuan [1]. - For 2024, the company expects revenue of 1.222 billion yuan, a year-on-year growth of 20.98%, with a gross margin of 93.31% and a net profit margin of 8.96%, despite a projected net profit decline of 45.46% due to stock payment expenses [1]. Strategic Developments Summary - Huada Jiutian has established a comprehensive EDA tool system covering analog, storage, RF, and flat panel display circuit design, with plans to enhance its digital circuit and wafer manufacturing capabilities [2]. - The company is set to acquire 100% of Chip and Semiconductor, which will complement its product line and support a full-link electronic system design simulation platform, enhancing its capabilities in advanced packaging and various chip applications [3]. - The acquisition aligns with the trend of domestic EDA tool localization, especially following Huada Jiutian's inclusion in the U.S. Entity List, which is expected to accelerate the domestic EDA industry's development [3]. Investment Outlook Summary - Huada Jiutian is positioned as a leading player in the domestic EDA market, likely to benefit from the trend of EDA localization, with a strategic focus on expanding its system-level EDA product offerings through the acquisition of Chip and Semiconductor [4].