767单并购重组落地！深市企业掀起新质生产力 “升级战”

Core Insights - The "Six Merger Rules" have led to an increase in merger and acquisition (M&A) activities in the Shenzhen market, with 767 new disclosures totaling 294 billion yuan since the announcement [1] - Major asset restructurings have also seen significant activity, with 89 cases amounting to 114.9 billion yuan, indicating a trend towards industrial integration and transformation [1] Group 1: M&A Activity and Trends - Shenzhen-listed companies are actively improving operational quality and efficiency through M&A, responding to supply-side structural reforms and industrial upgrades [2] - Central state-owned enterprises are enhancing asset integration, exemplified by the acquisition of 100% equity in China Power Nuclear by China Power Investment, valued at 57.1 billion yuan [2] - The acquisition of Baiyin Coal Power by China Power Investment Group aims to expand business scale and promote clean energy transition [2] Group 2: Strategic Acquisitions - Huada Jiutian plans to acquire 100% equity in Chip and Semiconductor, a leading EDA company, to enhance its EDA solution offerings [3] - Longyang Electronics intends to acquire 100% equity in Deyou New Materials, expanding its product range in functional coating materials for consumer electronics [3] - Jingrui Electric Materials aims to acquire 76.1% equity in Hubei Jingrui to boost production of high-purity chemicals essential for the semiconductor industry [3] Group 3: Market Dynamics and Financing - The M&A market is becoming more active as companies seek to achieve asset securitization through restructuring, influenced by a tightening IPO market [5] - Companies are innovating in payment methods for acquisitions, such as using convertible bonds, to balance stakeholder interests [6] - The acquisition of Jiangsu Keda by Lingyi Technology through cash and convertible bonds will enhance its presence in the automotive parts market [6] Group 4: Future Outlook - The combination of policy support, capital empowerment, and industrial upgrades is expected to drive Shenzhen-listed companies to adopt a more open approach, enhancing China's new productive forces [7]