重磅政策接连出台！资本市场并购重组如何布局？

Core Viewpoint - China's economy is undergoing a critical transformation, with the development of new productive forces being a core strategy for building a modern industrial system and shaping new development momentum [1] Group 1: Policy Environment - The national level is continuously releasing policy incentives to support industrial structure optimization and the development of new productive forces, creating an unprecedented favorable environment for corporate mergers and acquisitions [2] - Companies are encouraged to align their development paths closely with national strategic directions, focusing on core areas such as semiconductors, artificial intelligence, and biomedicine [2] Group 2: Strategic Focus - The fundamental purpose of mergers and acquisitions is to enhance core competitiveness, requiring successful integration to focus on upgrading core businesses and strengthening the industrial chain [3] - Companies should avoid blindly pursuing short-term trends and "empire-building" expansions that deviate from core competencies [3] Group 3: Risk Management - Mergers and acquisitions are complex high-risk strategic activities, and their success largely depends on systematic, forward-looking, and effective risk management [4] - A comprehensive risk control system should cover all stages from strategic alignment to performance evaluation and goodwill management [4] Group 4: Transaction Governance - Successful mergers require not only good targets and strategies but also sophisticated transaction design and rigorous decision-making mechanisms [5][6] - Companies should innovate transaction structures and enhance the professionalism and scientific nature of merger decisions by establishing high-level merger committees composed of top management, core business leaders, and independent experts [6]