安永李康：科技企业并购重组市场有望继续保持活跃

Group 1 - The core viewpoint is that the M&A market for technology companies is expected to remain active, driven by continuous policy support, market demand, and the need for companies to enhance competitiveness through mergers and acquisitions [1][2] - In 2024, the A-share market saw a significant increase in M&A activities, with 1,423 announcements made, representing a 2.2% year-on-year growth, and a total transaction value of 820.15 billion yuan, which is a substantial increase of 62.4% year-on-year [1] - As of May 7, 2025, over 70 listed companies have disclosed M&A activities, surpassing the 30+ companies from the previous year, indicating a continuation of this trend [1] Group 2 - M&A activities in the technology sector are primarily focused on key industries such as semiconductors, artificial intelligence, biomedicine, and high-end manufacturing, with a strategy of vertical extension and horizontal integration to acquire key technologies, market channels, and talent resources [2] - Challenges in M&A include increased regulatory requirements, as the active M&A market has led to stricter review standards, necessitating compliance from companies [2] - The outlook for technology companies going public is positive, supported by policies and market demand, although they face risks such as market volatility and the need for robust technology development and compliance [2]