Kanlun Electronics is a world-renowned EDA enterprise, mainly engaged in manufacturing and design EDA, semiconductor device characteristic testing instruments and semiconductor engineering services, and related products have been widely used in the world's leading contract manufacturers, memory manufacturers and so on. Kanlun Electronics released its quarterly report for 2024. Combined with the announcement information, the comments are as follows: the company's 24Q1 revenue growth is in line with expectations, mainly due to the growth of new orders from customers in Q1 EDA business. The company's 24Q1 revenue is 81.81 million yuan, which is + 27 yuan compared with the same period last year.Top10cryptogames2022.97% / month-on-month-23.46%. The year-on-year increase in revenue was mainly due to EDA software licensing business revenue from + 61.43% to 69.64 million yuan year-on-year, and increased orders from emerging strategic customers, including design EDA revenue of 45.49 million yuan, year-on-year revenue of + 120.58%, manufacturing EDA revenue of 24.15 million yuan, year-on-year + 7.25%. Affected by the delivery and acceptance cycle delay and other factors, semiconductor device characteristic test system business revenue of 7.81 million yuan, technology development solution revenue of 4.12 million yuan. The net profit loss is 36.47 million yuan, of which the impact of share payment fees is about 7.55 million yuan. 24Q1 gross profit margin increased significantly compared with the previous month, mainly due to a significant increase in the proportion of design EDA business. The gross profit margin of 24Q1 is 94.28%, compared with the same period last year + 4.05pcts/ + 11.19pcts. The increase in the same period is mainly due to the increase in the share of EDA to 85.38% (61.57% for the whole of 2023), of which design EDA accounts for 55.77% (compared with 2023 for the whole year), manufacturing EDA accounts for 29.61%, gross profit margins of both businesses are 100%. The revenue share of semiconductor device characteristic test system and technology development solution is 9.57% and 5.05%, respectively. NanoDesigner and test equipment new products software and hardware coordination, comprehensive mergers and acquisitions while strengthening cooperation with the upstream and downstream of the industrial chain. The company's full-process design platform NanoDesigner has passed the head customer's multi-round certification and achieved scale revenue. 24M3 released new semiconductor parameter testing and automatic solutions, including sensor microstructure parameter tester FS-MEMS and automatic measurement solution ATS, and the company's electrical characteristic test system cooperates with the hardware and software of EDA products. In 2023, the company has completed the acquisition of Fuzhou Core Zhaopin and Belgian EDA Magwel, and many upstream and downstream industrial chain companies such as Hehong Zhiwei, Aliyun, MPI, Roeder and Schwartz have reached a consensus of cooperation to enhance industrial competitiveness. Investment advice. Kanlun Electronics is a leading EDA manufacturer in China, with deep accumulation in the fields of device modeling and circuit simulation verification.Top10cryptogames2022We estimate that the company's revenue in 24-26 years will be RMB 4.12 million, taking into account the continuing impact of share payment fees in 24-26 years, the corresponding apparent return net profit is estimated to be 0.03 pound 0.56 million yuan, and the corresponding EPS is 0.01 shock 0.06 shock yuan 0.13 yuan, maintaining the "overweight" rating. Risk hints: the risk of technology iteration, the risk of R & D failure, the risk of intensified market competition, the risk of reduced product competitiveness, the risk of macro environment, and the risk of intellectual property infringement. [disclaimer] this article only represents the views of a third party and does not represent the position of Hexun. Investors operate accordingly, at their own risk.

[disclaimer] this article only represents the views of a third party and does not represent the position of Hexun. Investors operate accordingly, at their own risk.