说起这个"一站式"服务平台，杭州宏杉科技股份有限公司综合管理部总监程海江印象非常深刻：在 企业的标准编制中，因为经验不足，亟需寻找相关领域的专家来指导工作，他第一时间想到的就是每天 上下班他都会路过的一站式服务平台点位"暖企小站"。在向小站的工作人员反馈了需求后，第二天物联 网园区和市场监管局的工作人员就和他取得了联系，区市场监管局向企业推荐了标准集成服务，里面梳 理了相关的标技委组织和专家，还帮助宏杉对接了符合企业需求和产业特点的专家对企业进行指导。 "物联网小镇的质量基础设施'一站式'服务平台汇集了检验、检测、认证、专利等各类质量方面的 服务资源，企业足不出园就能解决资源'找不到、找不准'的痛点。通过这个平台我们又了解到'知识产权 质押融资'的信息，并成功申请到了5000万元的质押融资，解决了融资难、融资贵的问题。"程海江对此 很满意，"获得融资后，区里还承担了50%的利息，今年我们已经拿到了83万元的贴息。" 杭州行芯科技有限公司作为EDA领域的高新技术企业，在"一站式"服务平台的帮助下，通过专利快 速预审通道，3个月内获得6件核心发明专利授权，相关产品产值已超4000万元。不仅如此，该公司还成 功申报 ...

Group 1 - The core viewpoint of the article emphasizes the transformation of traditional luxury automotive brands like Mercedes into software-centric companies, reflecting the broader changes in the semiconductor industry driven by AI and software [1][4][6] - Siemens EDA's annual technology summit highlighted the industry's challenges, including project delays and declining first-pass success rates, while projecting semiconductor industry revenue to reach $1 trillion to $1.2 trillion by 2030, with transistor counts exceeding 1 trillion [4][6] - The introduction of "software-defined, AI-empowered, chip-enabled" strategies by Siemens EDA signifies a profound insight into industry trends, with a notable emphasis on the increasing importance of AI in Electronic Design Automation (EDA) [4][7] Group 2 - The concept of "software-defined" in the semiconductor industry indicates a shift from hardware-centric approaches to software-driven differentiation, necessitating a change in design methodologies to incorporate software considerations early in the design process [6][9] - AI's role in EDA is characterized by its industrial-grade applications, focusing on five key features: verifiability, usability, universality, robustness, and accuracy, which are essential for ensuring reliable chip design [7][8] - Siemens EDA's development of a comprehensive digital twin system aims to support the entire digital ecosystem, integrating various design and verification processes across multiple domains, thereby enhancing the overall design and production lifecycle [9][10]

从时间脉络来看，美国的技术封锁呈现出逐步升级的态势。2019年，部分中国科技企业开始受到制裁影 响；2020年5月，华为被正式列入实体清单，这标志着美国对华科技封锁进入新阶段。华为不仅被禁止 使用任何美国技术，其在实体清单中的等级更是达到了最严格的程度。 真正的转折点出现在2025年5月。可以用"魔幻"一词来形容当时的情况：美国宣布所有EDA软件、硬件 IP对中国客户全面禁用，连美国企业在中国的分公司也无法继续使用美国的EDA工具，这一政策的极端 性甚至让美国公司的中国分公司在线支持账号被突然切断，美国公司发现自己在华子公司竟然无法使用 母公司的EDA工具。这种前所未有的技术封锁产生了意想不到的效果：众多外资企业开始主动咨询中 国本土EDA企业，希望试用国产EDA工具。这一现象充分说明，美国的极限施压客观上为中国EDA产 业的发展创造了重要的市场机遇。 由观察者网与上海国投赋能联合主办、"绿色金融60人论坛"协办，上海市长宁区数据局作为支持单位 的"金融+集成电路"产业高峰论坛，于2025年8月29日下午在上海黄浦区绿地外滩中心T3幢38楼隆重举 办。 本次论坛汇聚国内顶尖金融机构与知名投资机构代表，旨在搭建 ...

正是在这样的背景下，Cadence高级副总裁兼系统验证事业部总经理Paul Cunningham博士，通过 CadenceLIVE China 2025上的交流，向我们描绘了一个令人振奋的前景：代理式 AI 将把芯片设 计从单纯的"工具使用"带入"智能协作"的时代。这不仅是一次设计方式的升级，更可能成为未来半 导体创新的关键拐点。 软件定义的芯片时代，如何寻找答案 "如今万物皆由芯片驱动。毫不夸张地说，计算机芯片正彻底改变我们感知世界、与世界互动的方 式 。 "Paul Cunningham 在 CadenceLIVE China 2025 的 演 讲 中 开 门 见 山 地 指 出 了 当 前 时 代 的 特 征。 在他看来，当今芯片设计的一个重要趋势是"软件定义的用户体验"驱动着"软件定义芯片"。许多传 统上不涉足芯片领域的企业，如小米、阿里巴巴、字节跳动、滴滴等，都已成为颇具规模的芯片制 造商。"放在20年前，没人会想到它们能成为芯片制造商。所以我认为，这对我们所有人而言都是 绝佳的机遇。" 数据印证了这一趋势的迅猛发展。仅在过去一年中，行业对AI相关产业规模的官方预测就从9500 亿美元大幅上调至1. ...

Core Viewpoint - The semiconductor industry, particularly the Electronic Design Automation (EDA) sector, is experiencing significant attention and development, with Huada Jiutian emerging as a leading player in the domestic EDA market, showcasing both challenges and advancements in its recent half-year report [2][3]. Financial Performance - In the first half of 2025, Huada Jiutian achieved a revenue of 502 million yuan, representing a year-on-year growth of 13.01%, despite a slowdown compared to the industry's high growth period [5]. - The core EDA software sales contributed 414 million yuan, up 7.41%, accounting for 82.6% of total revenue, while the technical services segment saw a significant increase of 28.37%, reaching 67.24 million yuan, making it a key growth driver [5]. - The domestic market remains the primary revenue source, generating 447 million yuan, a 7.68% increase, while the overseas market experienced a remarkable growth of 90.39%, reaching 54.52 million yuan [5]. - The net profit attributable to shareholders was only 3.07 million yuan, down 91.9% year-on-year, with a net loss of 18.62 million yuan after excluding non-recurring losses, although this was an improvement of 63.66% from the previous year [6]. - The company reported a significant increase in cash flow from operating activities, amounting to 243 million yuan, a 4475.60% increase, indicating strong revenue quality and improved customer payment conditions [6]. Product Development and Technological Advancements - Huada Jiutian launched seven core EDA tools during the reporting period, covering the entire integrated circuit design, manufacturing, and packaging chain [8]. - In digital circuit design, new tools such as HimaSim and HimaTime were introduced, covering nearly 80% of the main tools in this area, with HimaTime achieving a 30% performance improvement [8]. - The company also introduced an intelligent platform, AndesAMS, in the analog and storage circuit domain, expected to enhance design efficiency by over 50% [8]. - In advanced packaging and 3DIC fields, the new Argus3DIC platform fills a gap in high-end 3DIC design tools, supporting comprehensive verification for heterogeneous integration packaging [8][9]. - The company’s R&D investment reached 365 million yuan, accounting for 72.84% of revenue, reflecting a commitment to innovation and product development [10]. Market Environment and Policy Support - The EDA industry is characterized by high market concentration, dominated by major players like Cadence, Synopsys, and Siemens EDA, but there is a growing opportunity for domestic companies like Huada Jiutian due to supportive policies and market demand [11]. - Recent government policies have emphasized the importance of EDA tools, categorizing them as critical technologies for national strategic support, which has created a favorable environment for domestic EDA development [11][12]. - The market for EDA in China is projected to grow at a compound annual growth rate of 15.64% from 2021 to 2025, potentially reaching 18.1% of the global EDA market by 2025 [12]. - The increasing awareness of "self-control" among domestic chip design companies has shifted the adoption of domestic EDA tools from optional to essential [12][13].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected price increase of over 15% in the next 6-12 months [4][12]. Core Insights - The company reported a revenue of 500 million RMB in the first half of 2025, representing a year-on-year growth of 13% [2]. - The net profit attributable to the parent company, excluding non-recurring gains and losses, was -19 million RMB, showing a reduced loss compared to the same period last year [2]. - The adjusted net profit, excluding share-based payment impacts, was 85 million RMB, marking a significant year-on-year increase of 73% [2]. - The second quarter revenue reached 270 million RMB, with a year-on-year growth of 16% [2]. - The company has improved its cash collection efforts, with cash received from sales and services increasing by 73% year-on-year [3]. - The domestic EDA industry is maturing, and the company is expected to benefit from the trend of semiconductor localization [3]. Summary by Sections Performance Review - In the first half of 2025, the company achieved a revenue of 500 million RMB, a 13% increase year-on-year, while the net profit attributable to the parent company was -19 million RMB, indicating a narrowing loss [2]. - The adjusted net profit, excluding share-based payment impacts, was 85 million RMB, reflecting a 73% increase compared to the previous year [2]. Operational Analysis - The company's gross profit increased by 10.2%, outpacing the combined growth of sales, management, and R&D expenses at 9.3% [3]. - The company has intensified its cash collection efforts, leading to a 73% year-on-year increase in cash received from sales and services [3]. - The reduction in credit impairment losses by 19 million RMB compared to the previous year was noted, although other income decreased by 46 million RMB due to reduced EDA project subsidies [3]. Profit Forecast, Valuation, and Rating - Revenue projections for 2025-2027 are estimated at 1.39 billion RMB, 1.62 billion RMB, and 1.88 billion RMB, with year-on-year growth rates of 13.8%, 16.2%, and 16.4% respectively [4]. - The net profit attributable to the parent company is forecasted to be 60 million RMB, 190 million RMB, and 330 million RMB for the same period, with significant growth expected in subsequent years [4].

Group 1 - The company reported a total revenue of 502 million yuan for the first half of 2025, representing a year-on-year increase of 13.01% [1] - The net profit attributable to shareholders was 3.0679 million yuan, a significant year-on-year decrease of 91.90%, primarily due to stock payment expenses of 104 million yuan [1] - After adjustments, the net profit was 102 million yuan, with a year-on-year increase of 28.63% when excluding government subsidies [1] Group 2 - The proportion of revenue from technical services increased, while the gross margin slightly declined to 89.12%, down 2.27 percentage points year-on-year due to increased costs associated with the higher share of technical service revenue [1] - Research and development expenses rose to 365 million yuan, an increase of 4.58% year-on-year, indicating a continued commitment to R&D with a workforce of 949 R&D personnel [1] Group 3 - The company upgraded its traditional advantages in AI and launched new products, including the PyAether design platform and AndesAMS tool for mixed-signal design automation [2] - The company introduced four new tools for digital circuit design, increasing coverage to approximately 80% of the market [2] - In the wafer manufacturing sector, the company enhanced its solutions with a complete lifecycle management system and collaborative optimization solutions [2] Group 4 - The company launched the Argus 3DIC physical verification platform, supporting 2.5D/3D heterogeneous integration packaging design [3] - The company maintains a "buy" rating, projecting revenues of 1.62 billion, 2.06 billion, and 2.65 billion yuan for 2025-2027, with net profits of 250 million, 410 million, and 600 million yuan respectively [3]

计算机 2025 年 08 月 16 日 华大九天 (301269) ——多款产品实现 AI+EDA，数字电路设计覆盖~80% 报告原因：有业绩公布需要点评 增持（维持） | 市场数据： | 2025 年 08 月 15 日 | | --- | --- | | 收盘价（元） | 113.59 | | 一年内最高/最低（元） | 155.00/69.72 | | 市净率 | 12.2 | | 股息率%（分红/股价） | 0.13 | | 流通 A 股市值（百万元） | 61,673 | | 上证指数/深证成指 | 3,696.77/11,634.67 | | 注："股息率"以最近一年已公布分红计算 | | | 基础数据: | 2025 年 06 月 30 日 | | --- | --- | | 每股净资产（元） | 9.27 | | 资产负债率% | 8.11 | | 总股本/流通 A 股（百万） | 543/543 | | 流通 B 股/H 股（百万） | -/- | 一年内股价与大盘对比走势： 08-15 09-15 10-15 11-15 12-15 01-15 02-15 03-15 04-15 05- ...

Core Viewpoint - CadenceLIVE China 2025 is a significant event in the EDA industry, scheduled for August 19 in Shanghai, focusing on comprehensive technical exchanges and networking opportunities for industry experts [3][18]. Group 1: Event Details - The event will take place at the Kerry Hotel in Pudong, Shanghai, and registration is currently open [3]. - Attendees can expect to gain insights into the latest technology trends and have the chance to win various prizes [5][18]. Group 2: Incentives and Prizes - Early registrants who attend will receive a limited edition custom backpack, available on a first-come, first-served basis [6][7]. - A lucky draw will occur after the morning forum, offering attractive prizes such as a 4K thumb camera and Apple headphones [8][10]. Group 3: Conference Agenda - The conference will feature multiple technical sessions, including topics on custom analog design, digital design and verification, AI in digital design, multi-physics analysis, and system design solutions [18]. - The event will also showcase five major demos at the IP booth, highlighting innovative solutions in the industry [19].

广立微方面在公告中指出，在硅光芯片设计这一新兴领域，由于需要应对光电器件协同优化等问题带来 的特殊挑战，传统 EDA 工具已显现出明显的局限性。当前，硅光设计自动化工具（PDA）的发展仍处 于快速演进阶段，工具链的功能模块相对简化，从设计流程主要涵盖器件仿真、电路设计与仿真、版图 设计等环节，其成熟度与微电子集成电路 EDA 工具相比存在明显差距。 尽管海外头部企业已通过自研或并购布局硅光设计自动化工具（PDA）领域，但整体市场仍处于早期快 速迭代阶段，尚未形成类似集成电路 EDA 工具的高进入壁垒与相对垄断的格局。这一市场窗口期为 EDA 企业带来了战略性发展机遇：通过聚焦设计效率、精度及流程自动化等关键痛点，采取 "单点突 破、逐步扩展"的技术路径，有望在硅光设计生态中构建竞争优势。而这一窗口期或将催生新一代设计 工具领军企业，推动整个产业实现技术跃迁。 广立微表示，作为国内首家实现成品率提升全流程闭环的EDA与晶圆级电性测试设备提供商，公司围 绕着集成电路良率提升技术现已形成了一系列测试芯片、DFM、DFT 设计 EDA 工具及集成电路大数据 分析与管理等软件。在硅光产业快速发展的背景下，公司拟进行前瞻 ...