Core Insights - The report highlights the significant growth in revenue for the company, with a 14.50% increase in 2024, reaching 547 million yuan, despite a decline in net profit by 37.68% to 80 million yuan [2][5] - The company is expected to benefit from the increasing demand for domestic products in the context of integrated circuit localization [2][5] - The first quarter of 2025 showed a remarkable revenue increase of 51.43%, amounting to 66 million yuan, indicating a positive trend in cash flow performance [6] Revenue Breakdown - The company's software development and licensing revenue surged by 70.33% in 2024, totaling 159 million yuan, accounting for 29.04% of total revenue [7] - Testing equipment and accessories generated 386 million yuan, a 0.63% increase, representing 70.67% of total revenue [7] - Testing services and other revenues saw a dramatic increase of 360.63%, reaching 1.62 million yuan, contributing 0.30% to total revenue [7] Market Trends - The semiconductor demand is expected to rise due to advancements in AI technology, which will likely enhance the market share of domestic EDA companies [8] - The report notes a recovery in China's integrated circuit industry, with domestic products gaining market share in consumer electronics and communications [8] - The emphasis on localization and domestic procurement strategies is anticipated to further boost demand for local EDA products [8] Product Development - In 2024, the company made significant advancements in its EDA functionalities and launched several new products, including the INF-AI platform and the SemiMind semiconductor model platform [9] - The company has also developed a new high-performance semiconductor parameter testing machine, expanding its testing capabilities [9] - The successful implementation of yield improvement projects for various clients has enhanced the company's reputation and potential in the market [9]

计算机 | 证券研究报告 — 调整盈利预测 2025 年 5 月 12 日 2024 年广立微软件业务收入同比实现大幅 增长，公司有望受益于集成电路自主化背 景下市场对本土产品的需求提升。 股价表现 (%) 今年 至今 1 个月 3 个月 12 个月 绝对 1.2 2.0 (5.4) (7.9) 相对深圳成指 0.8 (4.1) (1.2) (11.4) (36%) (21%) (6%) 9% 24% 39% May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Mar-25 Apr-25 May-25 广立微 深圳成指 | 发行股数 (百万) | 200.28 | | --- | --- | | 流通股 (百万) | 107.62 | | 总市值 (人民币 百万) | 10,074.14 | | 3 个月日均交易额 (人民币 百万) | 257.46 | | 主要股东 | | | 杭州广立微股权投资有限公司 | 16.6% | | 资料来源：公司公告， Wind 中银证券 ， | | Wind 以 2025 年 5 月 9 日收市价为标 ...