赋能“强链补链”，并购重组激活产业升级新动能

Core Viewpoint - The merger and acquisition (M&A) market is experiencing a new trend focused on strategic collaboration and strengthening the industrial chain, with a significant increase in disclosed M&A activities this year compared to the previous year [1] Group 1: M&A Market Trends - As of November 23, 151 companies have disclosed M&A activities this year, significantly surpassing the same period last year [1] - Deep mergers driven by industrial integration have become mainstream, indicating a shift in M&A strategies [1] - Market participants expect that M&A activities driven by leading enterprises and "chain masters" in the industry will remain active [1] Group 2: Future Outlook - Future M&A will focus more on horizontal collaboration and vertical extension, suggesting a strategic shift in how companies approach mergers [1] - Qualifying high-quality enterprises are expected to receive more policy support, which may further enhance the activity level of industrial mergers [1] - State-owned enterprises (SOEs) are anticipated to play a significant role in industrial integration, with broader development opportunities ahead [1]