Core Viewpoint - The A-share merger and acquisition (M&A) market has seen significant activity in 2023, with 229 listed companies disclosing M&A progress as of August 14, a 294.83% increase compared to 58 companies in the same period last year, indicating a strong demand for resource integration to enhance efficiency in the context of economic restructuring and industrial upgrading [1][4]. Group 1: M&A Activity Overview - From August 1 to 14, 67 listed companies disclosed M&A progress, including five companies making their first disclosures, indicating a new wave of M&A activity entering the market [2]. - Notable transactions include Wanchen Group's announcement to acquire 49% of Nanjing Wanyou for a transaction price of 1.379 billion yuan and *ST Biology's plan to acquire 51% of Huize Pharmaceutical, a CRO company, for cash [2]. - Hailanxin announced its intention to acquire 100% of Hailan Huanyu for a total transaction price of 1.051 billion yuan, focusing on marine monitoring radar products [3]. Group 2: Driving Factors - The surge in M&A activity is driven by two main themes: upstream and downstream integration within industries and cross-industry expansion, as companies seek to enhance resource concentration and explore new growth opportunities [1][4]. - The demand for integration is particularly strong in emerging industries and traditional industry transformations, with many companies looking to fill technological gaps and expand market channels through M&A [4][8]. Group 3: Active Industries - The most active sectors for M&A include new energy and high-end manufacturing, with companies like Sinochem Equipment and Changhong High-Tech making significant acquisitions to enhance their service offerings and technological capabilities [7]. - For instance, Sinochem Equipment's acquisition of Yiyang Rubber Machinery and Bluestar Energy will transform it from a single chemical equipment supplier to a comprehensive service provider in the rubber and high-end equipment sectors [7]. Group 4: Expert Insights - Industry experts highlight three main factors driving the current M&A activity: policy encouragement for optimizing industrial structure through M&A, the facilitation of M&A by the deepening of the registration system reform, and the pressure for capacity integration in certain industries [8]. - The sustainability of M&A activity will depend on continued policy support, the liquidity environment in capital markets, and the recovery of profitability in the real economy [8].

Core Viewpoint - The merger and acquisition (M&A) market is experiencing a significant recovery driven by supportive policies and active participation from market players, with over 1800 asset restructuring cases disclosed in the A-share market since September 2024 [2] Group 1: Policy and Market Dynamics - The implementation of the "Six M&A Guidelines" has led to a notable increase in the scale and activity of the M&A market, with more than 200 major asset restructurings reported [2] - The revised "Management Measures for Major Asset Restructuring of Listed Companies" encourages existing listed companies to pursue transformation and expansion through M&A [2] - The Shanghai Municipal Financial Committee aims to establish Shanghai as a leading area for M&A activities, enhancing the ecosystem and collaboration mechanisms [2] Group 2: Financial Support and Innovation - Beijing Bank's Shanghai branch is committed to providing comprehensive financial support for technology enterprises, having launched the first M&A loan under the new policy for innovative companies [2][3] - The Shanghai State-owned Capital Investment Company emphasizes the importance of financial support and resource integration for technological innovation [3] Group 3: Regulatory and Compliance Aspects - New regulations include simplified review processes for restructurings and increased tolerance for financial condition changes and related party transactions, aimed at improving the quality of listed companies [3] - Experts highlight the need for careful evaluation of cross-industry mergers to avoid risks associated with blind expansions and ensure asset quality [3] Group 4: ESG Considerations - ESG factors are becoming central to M&A activities, influencing risk management, valuation, and integration challenges, particularly in cross-border transactions [4] - The future of M&A will increasingly depend on ESG capabilities as global disclosure standards evolve [4] Group 5: Role of Intermediaries - Active participation from intermediary institutions is crucial for a vibrant M&A market, with recommendations for companies to ensure strategic alignment and protect minority investors' rights [5] - Professional intermediaries are advised to conduct thorough due diligence and develop unified development plans for successful integration post-merger [6]

Group 1 - The company will continue to focus on its core business of pickled vegetables, specifically "pickled vegetable+" and related categories, while expanding its product matrix to include various types of pickled vegetables, compound seasonings, and sauces [2] - The company is actively seeking related acquisition targets in the condiment and side dish industry and plans to conduct mergers and acquisitions as appropriate [2]

8月13日，北京上市公司协会(下称「协会」)组织会员单位走进中国航空工业集团下属军工企业中航机 载系统股份有限公司(下称「中航机载」)，开展以「并购重组与做强做大做优」为专题的第一场调研座 谈活动。本次活动由北京证监局指导，协会主办，中航机载承办，北京上市公司独立董事、董事会秘 书、证券事务代表、相关领域负责人、媒体记者以及协会秘书处专职工作人员等50余人参加活动。 此次调研座谈活动以「调研参观+座谈交流」的形式开展。活动当天，代表们参观了中国航空工业历史 博物馆。在航空博物馆，通过生动细致的讲解，代表们了解了中国航空工业诞生、成长、壮大的奋斗 史，展馆内每一件展品都是科技创新的见证，每一组数据都彰显新质生产力的跃升。 座谈交流环节，协会秘书长李洪海在致辞中表示，并购重组是资本的重新组合，是产业的深刻整合，是 企业发展的战略重塑。并购重组可以发挥驱动资源优化配置，重塑市场竞争格局，打通增长关键脉络的 重要作用;并购重组可以产生点燃创新活力火花，释放协同增效潜力的重要影响;并购重组将具备为产业 升级注入动能，为市场活力添薪加火，为企业未来开辟新航道的重要意义。 与会上市公司代表踊跃发言，分享各自在并购重组方面的 ...

（文章来源：证券日报） 证券日报网讯 8月13日晚间，长盈通发布公告称，公司拟通过发行股份及支付现金方式，向武汉创联智 光科技有限公司、李龙勤、宁波铖丰皓企业管理有限公司等3名交易对方收购武汉生一升光电科技有限 公司100%股权（简称"本次交易"）。上海证券交易所并购重组审核委员会（简称"上交所重组委"）于 2025年8月13日召开2025年第11次并购重组审核委员会审议会议，对公司本次交易的申请进行了审议。 根据上交所重组委发布的《上海证券交易所并购重组审核委员会2025年第11次审议会议结果公告》，本 次会议的审议结果为：本次交易符合重组条件和信息披露要求。本次交易尚需经中国证券监督管理委员 会同意注册后方可正式实施，能否完成注册，以及最终完成注册的时间均存在不确定性。 ...

永吉股份公告，公司正在筹划发行股份及支付现金的方式，收购南京特纳飞电子技术有限公司的控制 权，并向不超过35名特定投资者发行股份募集配套资金。此次交易可能构成重大资产重组。公司股票自 8月14日开市起停牌，预计停牌不超10个交易日。 业绩披露 并购重组 正帆科技：拟11.2亿元收购汉京半导体62.23%股权 正帆科技公告，公司已与辽宁汉京半导体材料有限公司（以下简称"汉京半导体"）5名股东签署《股份 转让协议》，购买上述5名股东持有的汉京半导体总计62.2318%的股权，转让价格合计为11.2亿元。 永吉股份：筹划收购特纳飞控制权，公司股票停牌 艾为电子：上半年归母净利润同比增长71.09% 艾为电子发布2025年半年报，上半年实现营业收入13.7亿元，同比下降13.4%；归母净利润1.57亿元， 同比增长71.09%。 华北制药：上半年归母净利润同比增长71.56% 华北制药披露2025年半年报，公司上半年实现营业收入52.75亿元，同比增长0.84%；归母净利润1.23亿 元，同比增长71.56%。 海创药业：上半年归母净利润亏损6185.32万元 海创药业披露2025年半年报，公司上半年实现营业收入13 ...

每经记者｜王琳 每经编辑｜张益铭 并购重组 正帆科技：拟11.2亿元收购汉京半导体62.23%股权 正帆科技公告，公司已与辽宁汉京半导体材料有限公司（以下简称"汉京半导体"）5名股东签署《股份 转让协议》，购买上述5名股东持有的汉京半导体总计62.2318%的股权，转让价格合计为11.2亿元。 永吉股份：筹划收购特纳飞控制权，公司股票停牌 永吉股份公告，公司正在筹划发行股份及支付现金的方式，收购南京特纳飞电子技术有限公司的控制 权，并向不超过35名特定投资者发行股份募集配套资金。此次交易可能构成重大资产重组。公司股票自 8月14日开市起停牌，预计停牌不超10个交易日。 业绩披露 艾为电子：上半年归母净利润同比增长71.09% 艾为电子发布2025年半年报，上半年实现营业收入13.7亿元，同比下降13.4%；归母净利润1.57亿元， 同比增长71.09%。 华北制药：上半年归母净利润同比增长71.56% 华北制药披露2025年半年报，公司上半年实现营业收入52.75亿元，同比增长0.84%；归母净利润1.23亿 元，同比增长71.56%。 海创药业：上半年归母净利润亏损6185.32万元 海创药业披露2025年 ...

8月13日，北京上市公司协会（下称"协会"）组织会员单位走进中国航空工业集团下属军工企业中航机 载（600372）系统股份有限公司（下称"中航机载"），开展以"并购重组与做强做大做优"为专题的第一 场调研座谈活动。本次活动由北京证监局指导，协会主办，中航机载承办，北京上市公司独立董事、董 事会秘书、证券事务代表、相关领域负责人、媒体记者以及协会秘书处专职工作人员等50余人参加活 动。 活动邀请中国航空工业发展研究中心专家分享了低空经济引领航空产业第三次革命专题研究，全面阐述 了低空经济带来的产业变革、科技变革，并着重介绍了低空经济未来产业发展格局。中航证券研究所军 工首席分享了军工行业"十五五"发展趋势，"十五五"将以新质战斗力生成为要求，产业层面将呈现出全 新气象，军事智能化、军贸、低空经济、商业航天、民机、民船等"大军工"领域多点开花，行业规模得 以数量级提升；在资本层面，围绕并购、市值管理也将呈现出更为积极的变化。中航机载董事会秘书介 绍了中航机载并购重组情况与心得，分享中航机载借助并购重组手段，不断开展专业化整合，推动高质 量发展的历程。 与会上市公司代表踊跃发言，分享各自在并购重组方面的经验和心得， ...

6月6日，杭州汽轮动力集团股份有限公司（证券简称：杭汽轮Ｂ，证券代码：200771.SZ）召开公司 2025年第二次临时股东会，公告显示，杭州海联讯科技股份有限公司换股吸收合并杭州汽轮动力集团股 份有限公司暨关联交易方案的议案等共15项议案，经股东大会审议均获表决通过。 今年以来，国务院、证监会等多部门相继推出了一系列支持并购重组及上市公司之间吸收合并的新政 策，激发了并购重组市场活力，A股市场并购重组正进入新一轮的"活跃期"。在这一大的政策背景之 下，海联讯与杭汽轮作为杭州地方国企，积极响应国家政策，通过换股方式实现吸收合并。 本次重大资产重组交易的实施，有利于拓宽公司融资渠道，提升融资能力，公司将通过整合产业资源， 进一步优化公司产业布局，借力资本市场继续加强自主燃气轮机的研发和应用，助推我国燃气轮机产业 自主创新发展，持续提升公司核心竞争力及持续盈利能力。 公告显示，此次换股吸收合并方案获得84.52%中小股东表决同意，体现了各方股东对本次合并重组的 认可。 ...

Core Viewpoint - The A-share market is experiencing a surge in mergers and acquisitions, with over 40 listed companies disclosing restructuring progress in the past week, indicating a growing trend towards consolidation in the industry [1] Group 1: Mergers and Acquisitions Activity - More than 100 listed companies have disclosed merger and acquisition activities this year, reflecting a significant increase in corporate restructuring efforts [1] - Companies such as Luxshare Precision, Binhai Energy, and Guangku Technology are steadily advancing their restructuring plans [1] Group 2: Market Trends and Characteristics - The shift in focus from transferring control of listed companies to hard technology sectors is evident, as private equity and venture capital funds engage in industry consolidation [1] - Local governments are implementing supportive policies to assist companies in their transformation, contributing to a more rational valuation system that curbs excessive premiums [1] - The market consensus is shifting towards serving the real economy, with an emphasis on quality and practical advancements in industry [1] Group 3: Economic Implications - This ecological restructuring is expected to provide lasting momentum for high-quality economic development by rooting in niche sectors and promoting technological upgrades [1]