Primarius Technologies' Q3 revenue up 84.45%, EDA business advances steadily

3 R&D expense ratio: R&D expenses were 88.8582 million yuan, up 37.22% year on year, accounting for 50.10% of operating revenue.

According to information disclosed in the 2026 third-quarter report, the company's substantial revenue growth in the period was mainly attributable to two driving factors: first, continued growth in revenue from EDA software licensing business and EDA technology development solutions business; second, the addition of Ruicheng Xinwei and Naneng Micro to the scope of consolidated financial statements, which substantially increased IP licensing business revenue and chip customization business revenue.

Revenue growth exceeded expectations, R&D investment accounted for more than half

Financial report data show that Primarius Electronics achieved operating revenue of 177 million yuan in the third quarter of 2026 alone, up 84.45% year on year, achieving a leap in revenue scale. Notably, the company's R&D expenses in the period reached 88.8582 million yuan, up 37.22% year on year, and the R&D expense ratio was as high as 50.10%. The continued high proportion of R&D investment provided core support for the company's technology iteration and product layout. During the reporting period, net profit excluding non-recurring gains and losses was -4.8407 million yuan, mainly due to the company's continued increase in R&D investment and the newly incorporated businesses being in their expansion period.

Data related to the regional revenue composition were not disclosed.

Data related to the product revenue composition were not disclosed. The company's main businesses include EDA-related software, IP and solutions, and in the period all three business categories of EDA, IP and chip customization achieved revenue growth.

Breakthroughs in multiple core businesses, technology layout covers frontier areas

The company has built its business layout around the entire EDA industry chain, creating a business system featuring coordinated development of tools, processes and ecosystem. Its core businesses cover frontier tracks such as analog design, automated library building, full-flow digital EDA and AI+EDA, and its technology products continue to extend toward advanced processes and full-scenario coverage.

In the analog design field, the company is steadily advancing the construction of the NanoDesigner Hanqing native platform, continuously improving the open and collaborative analog design flow, providing users with a more efficient analog design toolchain better suited to domestic processes, and further consolidating its market competitiveness in the analog EDA field. In the automated library building field, the company is promoting the application of AutoCell in advanced processes and improving automated library building solutions. It has currently completed rapid layout generation and immediate test verification under 7nm and 5nm advanced processes, with technical capabilities reaching the industry's advanced level, able to meet customers' library building efficiency and precision needs under advanced processes and provide important support for the implementation of chip design at advanced process nodes. In the digital EDA field, the company has joined forces with Hongxin Weina, Qixin Linghang and Jiuyi Technology to integrate full-chain digital EDA tool capabilities, build a full-flow digital EDA process rooted in domestic processes, fill the gap in domestic full-flow digital EDA, and provide domestic chip design enterprises with an autonomous and controllable digital design tool option. In addition, the company has prospectively laid out a three-layer AI strategy covering the AI in EDA tool layer, the Agentic EDA process layer and the Intelligent EDA ecosystem layer, deeply integrating artificial intelligence technology into EDA tool R&D and process optimization, positioning itself early in the next-generation EDA technology track and building long-term differentiated competitive advantages.

During the reporting period, the company's business achieved multi-dimensional breakthroughs. On the one hand, the advanced-process adaptation capability of core EDA tools continued to upgrade, and the verification and implementation of 7nm and 5nm process nodes marked the company's technical capabilities entering the industry's first tier. On the other hand, through business integration and ecosystem cooperation, it achieved capability coverage of the full-flow digital EDA process, extending its business boundaries from its advantageous analog and manufacturing EDA to all categories of EDA. At the same time, after incorporating Ruicheng Xinwei and Naneng Micro, it added IP licensing and chip customization businesses, forming a complete business matrix of "EDA tools + IP + solutions" and further enhancing its risk resistance and revenue growth space.

Management did not disclose specific analysis related to production capacity or shipment volume in this report.

High R&D builds technical barriers, long-term growth highly certain

The company's R&D expense ratio remained at a high level of 50.10% in the period. Although this creates certain short-term pressure on the profit side, high R&D investment is the core competitive foundation of the EDA industry. Continued technology investment can ensure the iteration speed and technological advancement of the company's products and build solid barriers for subsequent product implementation and market expansion. Data related to gross margin were not disclosed.

From the perspective of long-term development strategy, the company will continue to focus on the core EDA track. On the one hand, it will continuously improve the functions and performance of the existing toolchain, enhance advanced-process adaptation capabilities, and deepen cooperation with downstream wafer fabs and chip design enterprises. On the other hand, it will steadily advance the integration of the full-flow digital EDA process and the implementation of AI+EDA technology. At the same time, relying on the newly incorporated IP and chip customization businesses, it will provide customers with more comprehensive solutions and deeply benefit from the industry dividend of the localization of the domestic semiconductor industry chain.