Group 1 - The core viewpoint of the article emphasizes that mergers and acquisitions (M&A) are increasingly becoming a vital force for industrial upgrading and optimizing resource allocation in the context of profound changes in the global economic landscape [1][2] - Statistics indicate that from September 2024 to June 2025, there will be a total of 196 major asset restructurings in the A-share market, representing a year-on-year increase of 172% [1] - The technology sector is highlighted as particularly strong in the M&A market, with significant increases in average deal sizes in semiconductors, military industry, biomedicine, and media compared to the ten-year average [1][2] Group 2 - The M&A market is transitioning from "arbitrage M&A" to "industrial M&A," with 57.8% of transactions in 2024 aimed at horizontal or vertical integration, marking a steady increase over the past three years [2][3] - There has been a notable decline in shell listings and diversification M&A, with only 2 such deals recorded, the lowest in a decade, indicating a shift towards M&A that focuses on core business and real industry needs [2] - Companies are encouraged to enhance front-end industry research in M&A investments, emphasizing that M&A should aim for sustainable growth rather than short-term market value increases [2]
并购重组浪潮奔涌 产业并购渐成新共识
证券时报·2025-07-31 03:08