[Summary].edaIt is difficult for enterprises to do, and product, business, and technology collaboration is a fine strategic work, and blindly pursuing capital is really "going crazy". The Science and Technology Innovation Board is gradually becoming more tolerant, and the minutiae still need industry norms and market supervision. edaindustryThe business model requires intensive capital investment and long-term cycle planningMore demandingTechnicallyofContinuousBreakthroughwithInnovation。ForSilchipFor domestic EDA enterprises, this is not only a technical competition, but alsoIt's aboutmarketing strategy and business modelConsiderationsNowadays, when point tools are breaking through, it is most important to do a good job in the differentiated needs of users. Otherwise, even after years of hard work, it may eventually beFallCreating false revenuesSituation. "Fraud" and "seedling" are damaging to the entire industry ecology. AsSince the implementation of the new ** law, the first case of fraudulent issuance investigated by the CSRC after submitting application materials and not being registeredIt is worth thinking about the development history of Silchip, the reasons for fraudulent issuance, and the industry enlightenment behind it. 
The following is the text: On February 9, 2024, the China Securities Regulatory Commission imposed a fine of 3 million yuan on Toshio Nakama, then director, chief executive officer and general manager of Silchip. The company and its executives were fined 16.5 million yuan, which is equivalent to millions more than the net profit in 2020 falsified by Silcore. Lin Junxiong founded Silchip in 2003. He has more than 10 years of experience in the EDA industry, having served as Asia Sales Director and Field Application Engineer Manager at Aptix and with Altera. The team with an international background is a great blessing to Silchip, why did it end up like this? According to public information, when Silchip just launched its first-generation FPGA prototyping system, it suffered a big market hit. At that time, the domestic chip market was not yet mature, due to the lack of understanding of the market and customer needs, the company's first generation of products failed to win the favor of the market and customers, and the sales were not satisfactory. At the same time, the failure of the original product also depleted all the funds of the company's angel round investment, and Lin Junxiong had to refinance with his partners for this. In the process of developing the second-generation product, Lin Junxiong summed up the sales lessons of the first-generation product, and he visited customers one by one to gain an in-depth understanding of the real needs of users. Finally, in 2006, the company launched the popular FPGA prototyping system. However, judging from the results since then, Silchip has not only failed to make good use of the core of the EDA industry of "customer demand", but also fallen into a puzzle in the business model. In terms of the company's main business model,Silchip SelectionnowThe business model of the hardware ** productVerification is a critical part of the chip design process. As a verification tool, hardware provides faster speed and greater design capacity than software, making it suitable for verification of large designs. However, despite the obvious advantages of hardware in commercialization, its market status and prospects still face some challenges. The hardware** technology and market is dominated by international giants such as Cadence, Synopsys and Siemens EDA, which provide mature hardware** solutions and capture the majority of the market share. As a domestic enterprise, although Silchip has made certain achievements in its field, the competition in the international market is still fierce. It is worth noting that the hardware corresponds to the back-end part of the digital circuit design, and the software corresponds to the front-end part. 
In customer follow-up, an undeniable reality is that before the whole process of design, ** and verification support, it is indeed difficult for enterprises that cannot achieve full coverage to implement their own products, so they need to do a good jobMediumLong-term strategic fit. At this point, some "Silxins" may also choose to "take a shortcut", focusing too much on subsidies and listing financing, ignoring their own strategic thinking. In the process of development,SilchipAlsoDidSeriesMergers and acquisitionsButfromThe end result looks,theThe revenue is still in the red, and it still has to passFinancial fraudmeans of falsifying "hematopoietic ability".On the one hand, a series of policies represented by ** subsidies have promoted the rapid expansion of domestic enterprises through mergers and acquisitions. Combined with the analysis of the financial statements from 2018 to March 2021, Silchip received a subsidy of 43 million yuan in 2019 and 2020 respectively. 
Data**: Silchip Audit Report and Financial Statements》However, even after receiving the **subsidy, Silchip was still in a state of operating loss in 2019. Although the operating profit in 2020 was positive, the subsidy accounted for 41%, Silchip's profitability is still unsatisfactory. The capital market will not be polite, and while telling the "story" well, investors must see the actual results, otherwise the lack of hematopoietic ability will only be more stressful. From this logic, Silxin's"Fraud" and "seedling".In fact, it is a kind of laziness to give up thinkingbehavior, ignoring the core breakthrough point of user needs. The end result is, even after years of hard work, eventuallyStillCaught in the trap of creating false revenue for itself. The business model of the EDA industry requires enterprises not only to have intensive capital investment and long-term cycle planning, but also to continue to innovate and make breakthroughs in technology. ForSilchip like thisFor domestic EDA enterprises, this is not only a technical competition, but also a test of market strategy and business model.
In fact, collaboration between EDA point tools is still difficultIn order to be competitive internationally, domestic EDA companies such as Empyrean are working hard to build a full-process platform. The Science and Technology Innovation Board has relaxed the requirements in some aspects, and in order to give enterprises a better space for development, 18C also came into being, but how to make good use of these rules requires enterprises and regulators to keep their eyes alone, and the public needs to continue to keep their eyes open. The state's serious handling of the fraudulent listing of Silchip has also sent a clear signal to the EDA industry and other enterprises. Fraud is not only a problem on the part of the enterprise, many official institutions are involved in it, and it is unknown whether sponsor institutions, accounting firms, law firms, etc. are tired. coincided with Chairman Wu's new appointment, which also tightened the strings for a number of enterprises that had gone astray. In addition, the creation board and the market have put forward new requirements for the chip industry, not just involution, but real innovation. If EDA companies want to go public, they will compete for original technology, market leadership, and the ability to solve key technical bottlenecks. Behind the fraudulent listing of Silxin, it not only poured cold water on the companies that frantically relied on the "blood transfusion ability" to fight the fire, but also guided the othersedaEnterprises focus on how to do a good job in the strategic differentiation of market demand.