EMPYREAN(301269)2025-05-20 12:20Group 1: EDA Technology Development - The company has achieved significant breakthroughs in EDA tools for various circuit designs, including analog, storage, RF, and digital circuits, with some tools reaching international leading levels [2][3] - The company aims to complete the development and market promotion of integrated circuit design tools within the next three years, achieving full domestic replacement of design tools and multiple products reaching international leading standards [4] - The company plans to accelerate the layout of EDA tools through independent research and development, cooperative development, and mergers and acquisitions [5] Group 2: Financial Performance and Incentives - The company approved a stock incentive plan on December 18, 2023, granting 8.69 million shares at a price of 51.22 CNY per share to 408 eligible participants [5] - The stock incentive plan price was adjusted to 51.07 CNY per share for an additional 2.17 million shares granted to 186 participants on November 4, 2024 [5] - The company’s stock payment expenses for 2024 are projected to be 178 million CNY [5] Group 3: Strategic Partnerships and Market Expansion - The company is a member of the TSMC EDA Alliance, providing integrated solutions from chip design to manufacturing [6] - The company has established over 30 joint laboratories with top universities and research institutions, focusing on core technical challenges in the EDA field [7] - The company is collaborating with China Electronics Group to enhance business development and asset quality post-acquisition [3][8] Group 4: Research and Development Investment - The company maintains a high R&D investment, with 2024 R&D expenses amounting to 868.12 million CNY, representing 71.02% of operating revenue [10] - The company plans to balance R&D investment with profitability, expecting the R&D expense ratio to decrease as market share expands [10] Group 5: Investor Relations and Governance - The company has implemented measures to protect minority investors, including establishing rules for shareholder meetings and ensuring timely information disclosure [10] - The company emphasizes communication with investors through various channels, including performance briefings and direct interactions [10] Group 6: AI Integration in EDA - AI technology is being integrated into EDA tools to enhance design efficiency and quality, with new tools like the Andes design automation platform incorporating AI features [7]