ZWSOFT(SH:688083)2024-09-05 09:36Group 1: Company Overview and Development Strategy - Guangzhou Zhongwang Longteng Software Co., Ltd. has a research and development team of over 1,000 professionals, which is deemed sufficient to support larger revenue growth despite current mismatches between team size and income levels [2] - The company believes that excess R&D personnel is essential to shorten the performance gap with leading overseas products, even if it negatively impacts short-term profit metrics [2] - The company plans to maintain its current R&D personnel scale while continuously improving R&D efficiency and product quality [3] Group 2: Market and Economic Environment - As of 2023, the company's annual revenue has not exceeded 1 billion RMB, making it vulnerable to macroeconomic challenges [4] - Despite a recovering macroeconomic environment, there remains significant market potential for industrial software, particularly in R&D design software [4] - The company aims to enhance product performance and implement strategic initiatives to deliver better financial results [4] Group 3: Competitive Landscape - The domestic 3D CAD market is largely dominated by foreign companies, with Dassault, Siemens, and PTC holding significant market shares [4] - The company focuses on increasing product performance and narrowing the gap with leading foreign 3D CAD products to gain wider customer recognition and market share [4] Group 4: R&D Investment and Returns - The company has significantly increased its R&D investment in 2021 and 2022, leading to a revenue growth rate exceeding 30% from 3D CAD in the first half of 2024 [2] - The returns from R&D investments are expected to manifest gradually, with early investments aimed at long-term growth sustainability and maintaining a competitive edge [2] - The company has established a competitive product application R&D team, allowing for timely optimization based on customer feedback [3]