科创板并购重组爆发式增长，一年新增103单交易额超320亿元

Group 1 - The implementation of the "Science and Technology Innovation Board Eight Articles" policy has led to unprecedented activity in the M&A market, with 103 equity acquisition projects disclosed in the past year, totaling over 32 billion yuan [1] - Since 2025, there have been 20 new major asset restructuring projects, including share issuance for asset purchases, surpassing the total for the entire year of 2024, indicating strong growth momentum in the M&A market [1] Group 2 - The effects of the policy are evident across multiple dimensions, with 9 new IPO applications and 14 companies completing their initial public offerings, covering key sectors such as semiconductors, new materials, and high-end equipment [3] - The implementation of standards for "light assets and high R&D investment" has provided more innovative companies with a pathway to go public [3] - The pilot reform of the underwriting system is showing positive effects, with a cautious and reasonable overall pricing for new stock issuances [3] Group 3 - The market ecosystem is continuously improving, with the introduction of 13 new indices, bringing the total to 29, covering various types including broad-based, strategy, and industry themes [4] - 48 new exchange-traded funds focused on sectors like new energy and artificial intelligence have been launched, raising 33.8 billion yuan, providing investors with more diversified investment options [4] - Over 80% of companies on the Science and Technology Innovation Board have released "quality improvement and return enhancement" action plans in the past two years [4] - Nearly 200 companies have announced repurchase and increase plans totaling nearly 18 billion yuan since the release of the "Eight Articles" [4] - More than 370 companies have proposed dividend plans for 2024, with total dividends amounting to nearly 39 billion yuan [4]