Zheng Quan Shi Bao Wang·2025-07-10 12:09Group 1 - The semiconductor industry is a cornerstone of information technology, and the integration and upgrading of its supply chain is crucial for cultivating new productive forces. The introduction of the "merger and acquisition six guidelines" injects strong momentum into this process [1] - The "merger and acquisition six guidelines" encourage listed companies to actively engage in mergers and acquisitions related to strategic emerging industries and future industries, focusing on unprofitable asset acquisitions that help strengthen supply chains and enhance key technology levels [1] - Following the implementation of these policies, over 70% of newly disclosed asset acquisition restructurings in the Shenzhen market are in the new productive force industries, with the semiconductor sector being a core strategic emerging industry [1] Group 2 - Fulede (301297) exemplifies cross-industry integration, transforming from a cleaning service provider to a semiconductor materials manufacturer through the acquisition of Fulehua for 6.55 billion yuan, which holds a 19% market share in the AMB substrate market [2] - The acquisition involved 59 counterparties and utilized a combination of share issuance and targeted convertible bonds to meet diverse compensation requirements, expected to increase Fulede's earnings per share by over 50% post-transaction [2] - Robotech (300757) acquired the German company ficonTEC, specializing in semiconductor automation and precision testing equipment, which is expected to break international technology barriers and accelerate domestic production in electronic packaging [3] Group 3 - Since June 2025, cities like Zhuhai, Shanghai, Guangzhou, Hangzhou, and Shenzhen have introduced new policies to support the high-quality development of the semiconductor and integrated circuit industries, aiming to enhance China's global influence in this field [4] - Shenzhen's measures focus on "strengthening, stabilizing, and supplementing the chain," proposing ten specific actions to support the research and industrialization of third-generation semiconductor materials like GaN and SiC, along with a 5 billion yuan private equity fund [4] - These policy supports, combined with market-driven mergers and acquisitions, are accelerating the integration of the semiconductor supply chain and promoting deep integration of technological innovation and industrial upgrading [4]