深圳重磅发文，推动并购重组

Group 1 - The core viewpoint of the article is the announcement of the "Shenzhen Action Plan for Promoting High-Quality Development of Mergers and Acquisitions (2025-2027)" aimed at enhancing the quality of listed companies and fostering a robust M&A ecosystem in Shenzhen [1][2]. Group 2 - By the end of 2027, the total market capitalization of listed companies in Shenzhen is expected to exceed 20 trillion yuan, with the goal of nurturing 20 companies with a market value of over 100 billion yuan [2]. - The plan aims to complete over 200 M&A projects with a total transaction value exceeding 100 billion yuan, while establishing a number of industry demonstration cases [2]. - The initiative includes the creation of a matrix of M&A funds, encouraging the aggregation of excellent fund managers, and promoting the formation of a trillion-level "20+8" industrial fund group to facilitate collaborative M&A in key industrial chains [2]. Group 3 - The plan encourages social capital participation in M&A activities, supporting corporate venture capital (CVC) to focus on key segments of the industrial chain and enhance technological advantages through M&A [2]. - Private equity funds are encouraged to engage in M&A integration through direct investments, M&A funds, and asset securitization, with mechanisms in place to link investment periods with share lock-up periods [2]. - The initiative supports the trial of private equity venture capital fund share transfers and encourages secondary market funds (S funds) to provide financing resources for M&A projects, promoting a virtuous cycle of "exit-reinvestment" through M&A [2]. - Various patient capital and foreign investors are supported to participate in M&A through strategic investments and qualified foreign institutional investors (QFII) [2].