Original(SH:603991) Xin Lang Cai Jing·2025-08-18 06:25Group 1 - The core point of the article is that Zhizheng Co., Ltd. has received approval from the Shanghai Stock Exchange for a significant asset restructuring project, which involves a complex model of "asset replacement + cross-border share swap" to acquire AAMI, a top five global semiconductor lead frame supplier [1] - This transaction marks the first A-share merger project involving "cross-border share swap" following the revision of the "Management Measures for Strategic Investment by Foreign Investors in Listed Companies" by the Ministry of Commerce and other departments in November 2024 [1] - Investment banking professionals indicate that this transaction represents an innovative transaction structure for A-share companies to introduce international industry-leading shareholders through cross-border mergers and acquisitions, enhancing the certainty and convenience of such transactions [1] Group 2 - The promotion of "cross-border share swap" cases is expected to enhance the ability of A-share listed companies to acquire high-quality global assets [1] - This development is anticipated to further promote the internationalization and marketization of the A-share market [1]