2026年开年，深圳硬科技企业嘉立创的两大动作引发行业关注：一方面，其在深交所的IPO审核状态从"中止"恢复 为"已问询"，更新后的招股书披露2025年上半年实现营业收入46.79亿元，同比增长25.95%；净利润5.9亿元，同比 增长23.5%，业绩增长态势稳健；另一方面，与之同步引发市场关注的，是嘉立创宣布自主研发的ECAD（电气设 计软件）标准版"永久免费"，这一看似有悖常规商业逻辑的举措，在硬件设计与制造领域掀起波澜。 从华强北的"一米柜台"起步，到如今布局总面积近1800亩的五大自营现代化数字生产基地，嘉立创的成长轨迹是 中国硬件创新生态发展的缩影。招股书数据显示，截至2025年上半年末，嘉立创在线自助下单网站注册用户达 822.5万，较2024年底新增110.61万；处理订单数量超950万单，同比增长15.85%。其服务的全球客户覆盖180多个 国家和地区，广泛分布于人工智能、半导体芯片、新能源汽车、航空航天等战略性新兴产业。 不过，市场对这一策略的可持续性存在疑问。有观点认为，免费软件和打样服务将增加企业成本，可能对盈利水 平造成压力。对此，嘉立创方面表示，软件免费并非最终目的，而是连接用户、沉 ...

Core Viewpoint - The launch of Jialichuang ECAD electrical design software marks a significant milestone in China's electronic and electrical design sector, providing a cloud-based solution that enhances collaboration and efficiency in industrial software [1][9]. Group 1: Cloud Transition in Electrical Design - The ECAD software addresses long-standing issues in the industrial automation and equipment manufacturing sectors, where engineers faced high costs for foreign software or inefficient 2D CAD tools [3]. - Traditional workflows often resulted in "data silos," where PCB design, mechanical structure design, and electrical wiring design were disconnected, leading to assembly issues [3]. - Jialichuang ECAD utilizes a cloud-native architecture, allowing engineers to design anytime and anywhere using just a browser, thus breaking the dependency on high-performance workstations [3][4]. Group 2: Innovation in Work Processes - The software features over 280,000 component libraries and adheres to international standards, transforming the design process from manual drawing to a more intuitive "building block" approach [4]. - Engineers can now complete high-quality designs in a fraction of the time previously required, significantly improving productivity [4]. Group 3: Building an Integrated Ecosystem - Jialichuang ECAD aims to create a "super ecosystem" that integrates electronic, mechanical, and electrical design, which has traditionally been dominated by foreign companies [6]. - The platform allows seamless switching between PCB design, mechanical matching, and electrical wiring, enhancing research and development efficiency [6]. Group 4: Reshaping Supply Chain Logic - The software's integration with Jialichuang's extensive electronic and mechanical supply chain allows real-time inventory checks and BOM generation, addressing previous procurement challenges [7]. - This integration liberates engineers from tedious BOM matching tasks, enabling them to focus on core innovations [7]. Group 5: Promoting Digital Infrastructure for Innovation - The free standard version of Jialichuang ECAD significantly lowers the barrier for small enterprises to access professional design tools, reducing legal risks associated with software piracy [8]. - The software's availability in educational settings will enhance the training of future engineers, aligning their skills with industry standards [8]. Group 6: New Business Model for Industrial Software - The launch signifies a shift in the business model for Chinese industrial software companies, moving away from solely selling tools to creating a comprehensive design-manufacturing-procurement ecosystem [9].

Core Insights - Shenzhen Jialichuang Technology Group Co., Ltd. (Jialichuang) has reported significant growth in both revenue and net profit for the first half of 2025, with a strong focus on high-end and global strategic layouts [1][2] Business Performance - In H1 2025, Jialichuang achieved a revenue of 4.679 billion yuan, representing a year-on-year increase of 25.95%, and a net profit of 590 million yuan, up 23.5% [2] - The company registered 8.225 million users on its online self-service ordering platform, an increase of 1.1061 million from the end of 2024, and processed over 9.5 million orders, a growth of 15.85% [2] - The three core business segments—Printed Circuit Boards (PCB), electronic components, and PCB assembly (PCBA)—generated revenues of 1.821 billion yuan, 1.696 billion yuan, and 790 million yuan respectively, with year-on-year growth rates of 13.33%, 28.38%, and 49.9% [2] Business Synergy and New Growth - The PCBA business contributed an additional 210 million yuan to PCB revenue, accounting for 31.62% of PCB's revenue growth, indicating enhanced business synergy [2] - New business segments, particularly in the mechanical industry chain services, generated 226 million yuan, a significant increase of 73.18%, with the 3D printing segment alone contributing 67.4852 million yuan, up 39.1% [2] - International revenue reached 949.5 million yuan, reflecting a year-on-year increase of 41.56% [2] High-End Strategy and Efficiency - The demand for high-layer PCBs in sectors like AI servers and electric vehicles has led to a 1.26 billion yuan increase in multi-layer board revenue, accounting for 58.90% of PCB business growth [3] - Jialichuang has implemented advanced PCB technologies, including 64-layer ultra-high-layer PCBs and HDI boards, while expanding PCBA production capacity by 31.97% [3] - The company has invested in automation with over a hundred CTU material handling robots and AGV systems to support rapid order fulfillment [3] R&D Investment and Ecosystem Development - R&D expenses for H1 2025 reached 170 million yuan, a growth of 3.28%, with a total of 180 patents and 285 software copyrights acquired [4] - The company's self-developed EDA software has surpassed 5.7 million registered users globally, facilitating over 43 million hardware design projects [4] - New software tools, including ECAD electrical design software and cloud ERP systems, have been launched to lower innovation costs and stimulate creativity in the industry [4]

Core Viewpoint - Shenzhen Jialichuang Technology Group Co., Ltd. has launched its ECAD (Electrical Design Software) with a "perpetual free use" standard version, addressing a critical gap in electrical design tools for engineers in China and establishing a new industrial internet paradigm centered on "cloud collaboration and manufacturing feedback to design" [1][2] Group 1: Software Innovation and Features - The ECAD software addresses long-standing pain points in the industrial automation and equipment manufacturing sectors, allowing engineers to design without the high costs associated with foreign software or the inefficiencies of basic 2D CAD tools [1][2] - The software features a cloud-native architecture, enabling engineers to work from any location using just a browser, thus transforming the design process from manual drawing to a more efficient "building block" approach with over 280,000 component libraries and intelligent rules compliant with international standards [2][3] - The launch of Jialichuang ECAD signifies a shift of domestic industrial software from being merely "usable" to "user-friendly" and "intelligent," showcasing capabilities such as automatic layout generation and 3D previews [2][3] Group 2: Collaborative Ecosystem and Supply Chain Integration - Jialichuang ECAD aims to create a "super ecosystem" by integrating electronic, mechanical, and electrical design software, which has traditionally been dominated by foreign companies [3][4] - The software allows seamless switching between PCB design, mechanical structure matching, and electrical wiring, significantly enhancing R&D efficiency through multidisciplinary collaboration [3][4] - The integration of design and manufacturing processes enables real-time checks on component availability and pricing, thus resolving issues related to supply chain disconnection and enhancing the overall design experience [4][5] Group 3: Free Strategy and Industry Impact - The decision to offer a perpetual free version of ECAD addresses the challenges posed by software piracy and high costs, making professional-grade design tools accessible to startups and reducing legal risks [5][6] - The free access to ECAD is expected to have a profound impact on electrical engineering education, allowing students to engage with industry-standard tools and processes, thereby enhancing the future workforce [5][6] - The launch of ECAD represents a strategic move towards building a self-sufficient and globally competitive industrial software ecosystem, moving away from traditional profit models based solely on tool sales [5][6]

Core Insights - Shenzhen Jialichuang Technology Group Co., Ltd. has launched its ECAD (Electrical Design Software), marking a significant advancement in domestic industrial software for electrical design [1][2] - The ECAD software features a cloud-based architecture, allowing for real-time collaboration among multiple engineers and continuous updates without manual installations [1] - The software complies with international electrical standards, enhancing its credibility and usability in the global market [1] Group 1 - The launch of ECAD fills a gap in the domestic electrical design software market and reflects ongoing efforts by Chinese companies towards industrial software autonomy [2] - Jialichuang's previous software, EDA, has gained a strong reputation among electronic engineers, with over 5.33 million global registered users and facilitating over 35.55 million hardware projects [2] - The company has expanded its business into mechanical and electrical fields, establishing a comprehensive ecosystem that includes design, procurement, and manufacturing services [2] Group 2 - The model adopted by Jialichuang lowers the innovation threshold for the industry, enabling individual developers and small enterprises to access high-quality design software [3] - The EDA software has incubated over 30,000 open-source projects, showcasing successful examples of "inclusive innovation" [3]