Recently, three leading EDA manufacturers in China - Huada Nine Days, Overview Electronics and Core Vision have submitted listing applications.China's "EDA First Share" war began.

Core data of this paper: financial data of EDA companies to be listed, R&D input of EDA companies to be listed, competitive pattern of EDA

"EDA First Share" War Launches

Recently, three leading domestic EDA manufacturers - Huada Nine Days, Overview Electronics and Core Vision submitted listing applications one after another. Huada Nine Days chose to list on the GEM, Overview Electronics listed on the SCAPE, and Core Vision listed on the Shenzhen Stock Exchange Motherboard after the withdrawal of the SCAPE IPO last year.The domestic "EDA First Share" war started.

All three enterprises were founded in the early 21st century, but at present, Huada Nine-Day has the largest volume. In 2019, its main business income was 215 million yuan and 406 million yuan in 2020.In 2019, the revenue of electronic main business was 0.64 billion yuan, and in 2020, 134 million yuan.The core vision's main business revenue in 2019 is 155 million yuan.

Note: The core vision has not yet updated the prospectus, and the data disclosed is up to 2019. Therefore, the full text discusses that the core vision refers to 2019 data.

From the product business structure, the overview electronic business structure is relatively rich. The overview electronic business extends downstream of the industrial chain through EDA tool business. At present, the main electronic business includes EDA tools, semiconductor device characteristics testing instruments, and semiconductor engineering services.

Huada's nine-day main business is divided into two main parts: EDA software sales and technology development services;The core vision main business is licensing IC analysis services, IC design services and EDA software.

华大九天EDA产品更丰富

但是,就EDA产品丰富度来看,华大九天的EDA产品相较于其它两大厂商更为丰富。目前,华大九天的EDA产品覆盖了模电设计、数电设计、平板设计和晶圆设计四个领域,产品具体包括原理图和版图编辑工具Aether、电路仿真工具ALPS和异构仿真系统ALPS-GT等15个主要产品。

概论电子EDA产品分为两大类:制造类EDA和设计类EDA,制造类EDA主要用于晶圆厂工艺平台的器件模型建模,设计类EDA主要用于设计阶段的电路仿真与验证。

芯愿景EDA产品定位于为IC分析服务和设计服务领域提供服务,目前公司EDA产品包括显微图像采集和处理系统(Filmshop)、显微图像实时处理系统(Panovas  Pro)、集成电路分析再设计系统(ChipLogic Family)、集成电路分析验证系统(Hierux  System)、集成电路设计优化系统(BoolSmart System)、高性的图像自动算法系统(Catalysis Series)。

华大九天EDA市占率更高

也正因较为丰富的EDA产品矩阵,华大九天EDA营收最高,2019年和2020年分别为2．15亿元和3．45亿元,占据了主营业务收入的85%。概论电子和芯愿景EDA业务营收不到1亿元,其中芯愿景EDA业务2019年营收占比仅为2．85%。

同时,从市占率上也可看到,目前华大九天是我国本土最大EDA企业,市占率在全球EDA三大巨头Synopsys、Cadence、Siemens  EDA之后,为6%。而概论电子和芯愿景在中国EDA市占率不到2%

注:市占率=公司EDA销售额/中国EDA销售额,公司EDA销售额数据来自于各公司申报稿,中国EDA销售额数据来自于赛迪智库。2020年芯愿景EDA数据未公布,2020年芯愿景市占率为测算值。

概论电子客户资源更丰富

不过,概论电子客户资源更为丰富,概论电子已经牵手九大晶圆制造厂商及三大全球领先存储器厂商,其中九家晶圆代工厂的器件建模及验证EDA工具收入占公司制造类EDA工具的累计收入比例超过50%;三星电子、SK海力士、美光科技三家全球领先存储器厂商的设计类EDA工具收入占公司设计类EDA工具的累计收入比例超过40%。

华大九天的客户覆盖集成电路设计企业、晶圆制造企业、平板厂商等,2020年公司前五大企业为K1、上海华虹(集团)有限公司、京东方科技集团股份有限公司、中国电子集团、清华大学,占营收的一半以上。

芯愿景客户主要为IC设计企业、集成器件制造商、电子产品系统厂商、科研院所、司法鉴定机构及律师事务所等,2019年公司前五大客户为中国电子科技集团公司、中国航天科技集团有限公司、纳思达股份有限公司等。

华大九天更重视研发且专利数较多

在技术研发上,2019-2020年,华大九天每年研发费用在1亿元以上,占营收比重的40%以上;而概论电子2019-2020年研发费用支出在3000万-5000万元。芯愿景研发费用支出较少,2019年其研发费用支出为1328．96万元,仅占营收的8．29%。

正因华大九天更重视研发投入,目前华大九天在专利数量上也领先于其它两个企业。截止2020年底,华大九天共拥有已授权专利144项,软件著作权50项;概论电子共拥有21项专利。截止到2019年底,芯愿景拥有10项专利权,集成电路布图设计专有权22项、软件著作权57项。

Huada plans to raise the most funds in nine days. An overview of the electronic plan to use part of the raised funds for mergers and acquisitions

In terms of the purpose of the fund raised, Huada plans to raise the largest amount of funds in nine days, which is 2.551 billion yuan. It mainly invests in five aspects: circuit simulation and digital analysis optimization EDA tool upgrade project, simulation design and verification EDA tool upgrade project, EDA tool development project for specific type of chip design, digital design integration and verification EDA tool development project, and supplementary liquidity fund.

It is worth noting that in addition to investing in technology-related projects, Summary Electronics plans to invest 12.4% of the proposed funds in strategic investment and merger and acquisition integration projects.

Huada has drawn up a short, medium and long-term plan in nine days. Overview E-Mention will expand war investment and merger and acquisition

In terms of planning, Huada has formulated short-, medium- and long-term plans in nine days. By 2030, the company aims to achieve full process coverage of EDA tools in all fields of integrated circuit design and manufacturing. Many products have reached the international leading level and become leaders in the global EDA industry.

Overview Electronic Overall Development Strategic Plan (EDA) provides EDA products and solutions that have been extensively validated and used by leading global integrated circuit design and manufacturing enterprises for a long time, focusing on the strategic layout of technologies and products around process and design collaborative optimization, and targeting the needs of advanced process nodes in the integrated circuit industry to accelerate development and tap the potential of mature process nodes.At the same time, Overview Electronics highlights the expansion of strategic investments and mergers and acquisitions in the future.

The core vision development plan is as follows: First, EDA software will be further optimized, a new generation of design database engine will be developed, automatic algorithms and data interaction technology upgrades will be accelerated, analysis and design of 5nm/10B transistor-level products will be achieved, and core competitive advantage will be strengthened;Secondly, to meet the needs of intellectual property analysis in the international market, build a mass design data storage and retrieval system to improve the service and penetration capacity of related markets;Thirdly, develop design service solutions with broader coverage and higher technical maturity and reliability to meet the requirements of high-performance IC localization related to the Internet of Things.Finally, to meet the common needs of all kinds of IC products, research the design methods and technical platforms of key IP, choose the opportunity to expand technical reserves through investment and mergers and acquisitions, and continue to expand market share in the subdivision areas.