拿下19单IPO，深圳产业升级步伐持续加速

Group 1 - The IPO market in Shenzhen is experiencing significant growth, with 19 new companies listed in 2025, including 6 on A-shares and 13 on overseas markets, indicating a vibrant capital market environment [3][4] - The Hong Kong Stock Exchange has become the world's leading IPO destination in 2025, with 117 companies raising HKD 285.69 billion, a more than twofold increase from the previous year [3] - Shenzhen's new listed companies are characterized by strong technological capabilities and rapid international expansion, with examples including Fengcai Technology and Yingshi Innovation [4] Group 2 - Shenzhen has completed 146 merger and acquisition (M&A) projects since 2025, with a total disclosed transaction value of CNY 86.645 billion, ranking second in the country by number and third by value [6] - Major M&A projects include China Resources Sanjiu's acquisition of a 28% stake in Tianjin-listed Tianshili for CNY 6.074 billion and China General Nuclear Power's acquisition of 100% of a subsidiary for CNY 1.204 billion [6] - The local government is actively promoting M&A to enhance the quality of listed companies, aiming for a total market value of CNY 20 trillion by the end of 2027 [7]