并购重组市场活跃 “两创”板块公司表现抢眼

Core Viewpoint - The M&A market is experiencing significant growth, driven by favorable policies and active participation from innovative companies, particularly in high-tech sectors such as biomedicine and semiconductors [1][2][3]. Group 1: M&A Market Overview - Over 1,600 M&A events have occurred in the A-share market this year, with 86 classified as major restructurings, significantly higher than the 40 from the same period last year [1][4]. - Companies from the "Two Innovation" boards (Sci-Tech Innovation Board and ChiNext) are particularly active, with 41 of the 86 major restructurings involving these companies, compared to only 10 last year [2][3]. Group 2: Policy Support - The China Securities Regulatory Commission (CSRC) has implemented policies to support M&A activities, particularly for "Two Innovation" board companies, encouraging them to acquire upstream and downstream assets in their industry chains [3][5]. - Recent regulatory changes have enhanced transaction flexibility and funding efficiency, further stimulating M&A activities among innovative firms [3]. Group 3: High-Tech M&A Targets - The M&A targets this year are characterized by high technological content, with significant transactions in sectors like semiconductors, electronic components, and biomedicine [5][6]. - Notable examples include Huada Jiutian's acquisition of a semiconductor company and Huibo Yuntong's purchase of a leading computing solutions provider, both aimed at enhancing their technological capabilities and market competitiveness [5][6]. Group 4: Strategic M&A Approaches - Companies are employing both vertical and horizontal M&A strategies, with some focusing on expanding their core business while others seek to enhance their product offerings through complementary acquisitions [6][7]. - For instance, *ST Huawang's acquisition of a key supplier in the new energy vehicle sector aims to stabilize its financial position and diversify its business model [6][7].