Venture(US:VEMLY) Sou Hu Cai Jing·2025-11-03 09:16Core Viewpoint - The document outlines a set of guidelines aimed at enhancing the quality of listed companies in Beijing through mergers and acquisitions (M&A), aligning with national policies for high-quality economic development and risk prevention [2][3]. Group 1: Focus Areas for M&A - Encourage resources to concentrate on new productive forces, particularly in strategic emerging industries such as artificial intelligence, healthcare, integrated circuits, and renewable energy [3]. - Promote industry consolidation through M&A, urging companies to integrate upstream and downstream assets to achieve significant market valuations [3]. - Support cross-industry and cross-regional M&A activities, facilitating strategic investments from foreign investors to enhance international competitiveness [3][4]. Group 2: Market-Driven Approach - Ensure fair treatment of all market participants in M&A transactions, allowing companies to make independent decisions based on their development needs [4]. - Attract key industry M&A projects to Beijing by providing tailored services based on the characteristics of different ownership types [4]. - Enhance the professional capabilities of intermediary institutions to facilitate M&A transactions effectively [4][5]. Group 3: Government Support and Efficiency - Establish a list of key M&A targets to support the development of specialized and high-quality enterprises [5]. - Create a non-profit M&A service platform to provide comprehensive support, including policy consultation and transaction matchmaking [5][6]. - Assist in resource integration post-M&A to ensure successful project implementation and support for key industry projects [6]. Group 4: Regulatory Framework - Strengthen regulatory oversight of M&A activities, ensuring compliance with information disclosure and legal obligations [7]. - Develop a risk monitoring and early warning mechanism for M&A activities to address potential market irrationalities [7]. - Optimize compliance and safety reviews related to M&A, particularly concerning state-owned assets and anti-monopoly regulations [7]. Group 5: Organizational Support - Enhance organizational leadership in M&A activities, ensuring that relevant units implement policies effectively [7]. - Foster collaboration between city and district levels to create a cohesive approach to M&A services [7].