9.24日金融支持经济高质量发展新闻发布会点评：电子：发挥并购重组作用，支持新质生产力转型，投资评级

Investment Rating - The investment rating for the electronic industry is "Outperform the Market" [1][5] Core Insights - The report emphasizes the role of mergers and acquisitions in supporting the transformation towards new productive forces in the electronic industry [1][5] - The recent policy initiatives aim to enhance industrial integration and support mergers that focus on technological advancements and resource optimization [3][5] Summary by Sections Industry Performance - As of September 25, 2024, the electronic industry has shown absolute returns of -0.6% over 1 month, -5.1% over 3 months, and -12.2% over 12 months, with relative returns of -2.8%, -3.4%, and -3.8% respectively [1] Policy Support - The State Council's recent announcements highlight the importance of financial support for high-quality economic development and the facilitation of mergers and acquisitions to inject quality assets into listed companies [2][3] Market Dynamics - The electronic industry has the highest number of companies listed on the Sci-Tech Innovation Board, with 141 companies, representing 25% of the total. The industry also has a significant presence on the Growth Enterprise Market with 144 companies, accounting for 11% [4] - The market capitalization distribution shows that 8 companies exceed 100 billion yuan, while 347 companies are below 10 billion yuan, indicating a concentration of smaller firms and potential for increased industry consolidation [4] Investment Recommendations - The report suggests focusing on leading companies capable of mergers and acquisitions to address overcapacity and enhance competitiveness, as well as on innovative firms seeking breakthroughs in key technologies through acquisitions [5]