First Of All, The Company'S First Appearance Is Related To EDA Enterprises, And Its Vision Is To Take The Responsibility Of Localization And IPO.

In May 19th, the company launched a new chip company.

This company called core vision is based on the EDA software developed by ourselves to carry out integrated circuit analysis and design services. What is special about this company?

The bright spot lies in its EDA software developed independently. The EDA industry is the most upscale and high-end industry of IC design. The industry generally believes that EDA is the key bottleneck for China's semiconductor industry to achieve independent control. This makes the technological innovation of the local enterprises concerned much concerned by the market.

At present, there are few famous local EDA enterprises, of which the core vision is the fastest in the capital market, and it is expected to drink the "first taste soup" of the domestic EDA software suppliers landing on the science and technology innovation board.

Leveraged capital

The prospectus of the prospectus shows that the core vision was founded in 2002, and has established three major business segments, namely, integrated circuit analysis, IC design and EDA software authorization. It is mainly for IC design enterprises, integrated device manufacturers, electronic products system manufacturers, research institutes, forensic machinery and law firms.

For its own industry position, the core vision said that the company continued to track the most advanced technology in the industry. The IC analysis project implemented by the company has reached 90 of the 14 nanometer and below process projects, and 12 of the 7 nanometer process projects, and the related chip process and corresponding analysis technology have reached the international advanced level.

From the perspective of service customers, core vision has been recognized by the industry. During the reporting period, China Electronics Technology Group, China Aerospace Technology Group and Nasdaq were among the top five customers. Among the top ten semiconductor companies in the world, the proportion of direct or indirect services is 60%, and the number of projects exceeds 200.

However, from the perspective of body size, core vision can only be regarded as a "small and beautiful" company.

From 2017 to 2019, the company's revenues were 73 million 705 thousand and 200 yuan, 114 million yuan and 160 million yuan respectively, and the net profit to the parent company was 26 million 946 thousand and 500 yuan, 41 million 685 thousand and 300 yuan and 75 million 576 thousand and 400 yuan respectively, and R & D investment accounted for 8.47%, 10.25% and 8.29% respectively.

The company is planning to invest 465 million yuan to invest in the new generation integrated circuit intelligent analysis platform research and development project, IP core and design platform development and industrialization project for the Internet of things chips, R & D projects for high-end digital chip design service platform, R & D centers upgrading and strengthening projects and supplementary liquidity.

For future planning, the core vision will continue to increase the R & D and innovation of basic and key core technologies, including further optimizing EDA software, realizing the analysis and design of 5 nm / 10 billion transistor level products, building massive design data storage and retrieval system, and designing service solutions with wider coverage and more mature technology and reliability; and studying the key IP The design method and technology platform will continue to expand the market share in the subdivision area through the expansion of technology reserves through investment and acquisition.

At the same time, in the highly skilled and highly capital IC industry, the core vision hopes to broaden the financing channels with the help of this public offering, and change the current situation of limited financing capacity and single channel, so as to enhance the capital of internal and external expansion and enhance the ability to resist risks.

From the perspective of the listing process, the core vision marketing guidance took only six months. In May 20th, the core vision side told reporters in twenty-first Century economic report: "after landing in the capital market through IPO, there will be more standardized laws and regulations as guidelines, and at the same time, we can promote the company's business development with more abundant capital platform."

In fact, before the planned landing of the board, the core vision did not carry out multiple rounds of financing in the primary market, and the distribution of shares was more concentrated.

Among them, dickor, Jiang Weijun, Zhang Jun and Ding Zhong share more than 95% of their individual shareholders. The new shareholders in a year are two private investment funds, Yi an investment and Feng Jun Jun. The subscription price is 12.93 yuan / share, and the shareholding ratio is 2% and 1% respectively.

It is worth noting that the above four shareholders are the company's co owners and core technicians. "For listed companies, ownership concentration has its advantages and disadvantages, but the structure is relatively simple, and the real controller is the core technical personnel, relatively stable." An investment bank told reporters.

EDA localization is a long way to go

From the above situation, the core vision does not seem to have many bright spots. But it is worth noting that core vision has EDA software developed independently, one of which is EDA software authorization.

The company has gathered a lot of companies, but the company involved in the EDA software business has not yet appeared. The application of the core vision board has been accepted by the Shanghai Stock Exchange. It has sounded the bugle of the domestic EDA software suppliers to go to the science creation track.

Why is the market giving so much attention to EDA?

For a long time, the global market of EDA software is mainly led by three leading companies, namely, Cadence, Synopsys and Mentor Graphics. A research report of Dongxing securities is regarded EDA as the seal of the United States to restrict HUAWEI's throat. It is called "the mother of chips" and is the Pearl of the chip industry.

On May 18th and 19, Shentong Metro continued trading on two trading days. The reason is that some investors included the company in the "domestic EDA leader - Hua Da Jiu Tian" concept stock. After the company's clarification, the fund invested by Jian Yuan holds 17.42% stake in Hua Da Jiu Tian. The attraction of EDA to the market is obvious.

But compared with the dragon head, the core vision is far from enough.

Core vision frankly, for the EDA software licensing board, the company positioning software applications in IC analysis services and design services, as the basic technology tools and core technology to protect the main business. For a long time, the company directly authorized customers to use software to obtain relatively small profits, business mode, product application scope and other industries, such as Hua Da Jiu Tian, Keng Teng electronics, Xin Si science and technology, Ming Dao international, etc.

Data show that the EDA vision business of core vision really contributes less to performance. In 2017 -2019, the business accounted for only 5.98%, 3.23% and 2.85% respectively.

In fact, from the industry perspective, "EDA is the weakest in China's IC industry." At the 2019 China integrated circuit design conference, many experts expressed this view.

In an interview with the media, Liu Weiping, chairman of Hua Da Jiu Tian, described the status quo of EDA industry. "The first person eats meat, the second drinks soup, the third licks the bowl, and the third does nothing afterwards."

"There are still many difficulties in the development of domestic EDA, such as the long chain of EDA tools. Although at present, there are some breakthroughs in the development of China's great nine days and almost all electronic parts, but the complete and full process toolchain still needs long-term technological accumulation. Moreover, EDA manufacturers need to work closely with wafer foundries, but our advanced manufacturing OEM is also lagging behind. In addition, China's intellectual property rights protection needs to be further strengthened. An electronic industry analyst said.

From the above core vision to the positioning of EDA software business, the main function is to serve the main business. Is it possible to increase the proportion of its business in the future?

In response to these questions, the core vision replied to the twenty-first Century economic report, "at present, the company has accumulated 6 EDA software lines running through the whole business process, as well as more than ten embedded security protection classes, industrial Internet of things and control classes, and general basic class IP. There are more than 1000 authorized customers worldwide, and more than thirty thousand authorized authentication has been issued. In the future, we will make efficient use of this fund to further optimize EDA software and contribute to the localization of IC industry.