FINANCIAL STREET(SZ:000402) Bei Jing Shang Bao·2025-10-30 09:29Core Viewpoint - The recent release of the "Opinions on Supporting Mergers and Acquisitions to Promote High-Quality Development of Listed Companies" aims to enhance the merger and acquisition (M&A) market in Beijing, aligning with national strategies and focusing on key industries for economic transformation and development [1][3]. Group 1: Policy and Market Dynamics - The M&A market has seen significant growth since the introduction of the "Six M&A Guidelines" in 2024, with increased market scale and activity [3]. - The "Opinions" consist of six parts and 19 articles, emphasizing the importance of aligning M&A activities with Beijing's industrial development goals and national strategies [4][5]. - Key considerations in the formulation of the "Opinions" include a focus on market-driven approaches, effective government involvement, and risk prevention measures [3][4]. Group 2: Implementation and Support Mechanisms - The "Opinions" encourage resource allocation towards new productive forces and support cross-industry and cross-regional M&A activities [4]. - A new service platform for M&A and development has been established to connect listed companies, innovative enterprises, and financial institutions, providing comprehensive support for M&A activities [5]. - The platform aims to facilitate information sharing, training, and transaction matching to promote high-quality development in the M&A market [5]. Group 3: Market Activity and Trends - In the first nine months of 2024, 106 M&A transactions were completed by A-share listed companies in Beijing, with a total transaction value of 842 billion yuan, marking a year-on-year increase [6]. - The semiconductor industry is currently a hot target for M&A, with companies like Time Space Technology and Yingxin Development actively pursuing acquisitions in this sector [6][7]. - Following the announcement of M&A plans, both Time Space Technology and Yingxin Development experienced significant stock price increases, reflecting strong investor interest [6][7].