As we all know, in the EDA industry, Synopsys, Cadence, and Mentor are the three giants. They have established a stable leading position through years of mergers and acquisitions, and their one-stop business model is well received and profitable. So how is the domestic EDA industry developing? What are the highlights of the IP industry? Eric Esteve, the founder of IPnest, provides strategic consulting and IP-related market research for the company's senior customers. DACIP committee member.