By Kate Yuan

Semitronix (广立微), a leading Chinese EDA software supplier, forecast that its net profit would reach RMB110 million ($16.28 million) to RMB130 million ($19.24 million) in 2022, surging by 72.56%-103.93% year on year, JW Insights reported on January 30.

The company's hardware business of WAT tester saw huge growth thanks to bulk purchases from major clients. Its EDA tool authorization and yield improvement services won many new clients in addition to continuous orders from existing customers, Semitronix said.

Founded in 2003, Hangzhou-headquartered Semitronix went public on the Shenzhen Stock Exchange’s Nasdaq-like ChiNext board on August 5, 2022.

The company ramped up R&D investment and market development efforts last year, despite complicated industry environment from geopolitical changes to COVID lockdown.

After the listing, the management income of the raised funds also increased compared with the cash income over the last year.