“科创板八条”后百单产业并购发布 披露的交易额合计超247亿元

Core Viewpoint - The merger and acquisition (M&A) activity among companies listed on the STAR Market is significantly increasing, with a total of 100 new M&A transactions reported since the introduction of the "STAR Market Eight Measures," amounting to over 24.7 billion yuan in disclosed transaction value [1][2][4]. Group 1: M&A Activity and Policy Support - The China Securities Regulatory Commission (CSRC) is actively revising the major asset restructuring management measures to further support M&A activities among listed companies [2][3]. - In 2023 alone, 39 new M&A transactions have been disclosed on the STAR Market, surpassing the total of 17 transactions for the entire year of 2024 within just four months [2][3]. Group 2: Accelerated Transaction Processes - The M&A transaction processes are accelerating, with some projects, such as Puyuan Precision's restructuring, taking only 52 days from acceptance to approval by the exchange [3]. - Several companies have reported positive progress in their M&A transactions, indicating a trend of rapid advancement in the approval and execution stages [3]. Group 3: Industry Resource Integration - The 100 M&A transactions are primarily industry mergers, focusing on companies within the same industry or along the supply chain to achieve synergies and enhance product offerings [4][5]. - Acquiring complementary companies allows STAR Market firms to provide comprehensive solutions and improve overall competitiveness [4]. Group 4: Diverse M&A Strategies - Companies are increasingly acquiring upstream and downstream enterprises to extend product coverage and application scenarios, exemplified by Aopumai's acquisition of Pengli Biotechnology [5]. - The STAR Market has seen 15 disclosed transactions aimed at acquiring overseas companies, enhancing international market presence and brand recognition [5]. Group 5: Innovative Valuation and Financing Methods - Recent M&A transactions are adapting to new production capabilities, including acquisitions of unprofitable targets and flexible funding sources [6][7]. - Companies are employing various financing methods such as private placements, convertible bonds, and acquisition loans to facilitate M&A activities [7][8].