国投科创董事、总经理沈伟指出，硬科技并购面临估值鸿沟等四大挑战，强调了科创服务在并购三 阶段的关键作用：前期是价值发现者与风险扫描仪，依托服务超两万名科学家的优势挖掘优质标的、防 范风险；中期为架构优化师与交易催化剂，解决科创企业治理与估值错配问题；后期充当整合黏合剂与 价值加速器，推动技术整合实现协同效应，助力资本与科技融合，实现精准战略价值创造。 近日，在"2025并购嘉年华"上，上海虹桥国际中央商务区管理委员会副主任杨旭波发言表示，虹桥 国际中央商务区作为长三角强劲活跃增长极的集中地，不仅是国家战略的试验区，更是全球资源的交汇 点。随着国家"并购六条"、上海"并购12条""和""虹桥并购八条"的出台，政策红利正在持续释放，为并 购市场注入了强劲的动力。未来，虹桥国际中央商务区将持续加大在资源配置、政策保障、营商环境优 化等方面的投入，进一步完善公共服务的生态，推动建立更高效的并购融资渠道，引入更多的专业服务 机构，为各类市场主体提供更优质、更高效的全链条服务。 上海长宁区委常委、副区长陆浩表示，长宁区作为投资兴业的优选地，始终坚持打造国际一流的营 商环境，加快建设现代化的产业体系，已形成以数字经济、航空 ...

Core Viewpoint - The article emphasizes the role of the securities industry in supporting national strategies and enhancing financial services for small and medium-sized enterprises (SMEs), particularly in the context of the ongoing technological revolution and capital market reforms [1][2]. Group 1: Service Model and Strategy - Guosen Securities aims to build a professional system to empower technology enterprises, facilitating their growth from inception to maturity, which aligns with the "Shenzhen speed" of innovation [2][4]. - The company focuses on three core capabilities: creating a competitive full-chain service system for technology enterprises, establishing a precise investment system through its platforms, and covering strategic sectors like new energy and high-end equipment with comprehensive services [4][5]. - As of the end of 2024, over 70% of the IPO projects Guosen Securities has sponsored are strategic emerging enterprises, with a total investment of approximately 50 billion yuan in private equity projects [4]. Group 2: Competitive Advantages - Guosen Securities combines the characteristics of a state-owned enterprise with market-oriented traits, which enhances its ability to serve technology enterprises effectively [5][6]. - The company emphasizes empathy and market-oriented solutions, which fosters strong connections with private technology enterprises [5]. Group 3: Client Service Mechanisms - Guosen Securities implements a collaborative mechanism to quickly respond to the needs of technology enterprises, focusing on a customer classification and tiered service model [6][7]. - The company promotes a collaborative service model in key regions and establishes a large client manager service mechanism to provide tailored financial services [7]. Group 4: Project Evaluation and Selection - The company focuses on hard technology projects, with a project reserve structure that emphasizes sectors like TMT, new materials, and high-end manufacturing [8][9]. - Guosen Securities employs a "customer validation" model to assess the technological advancement and market fit of potential investments, using feedback from downstream clients as a critical decision-making factor [13][14]. Group 5: Regional Development and Collaboration - Guosen Securities supports the "20+8" industrial cluster development in Shenzhen by providing full-cycle services and leveraging its private fund management capabilities [15][16]. - The company has successfully facilitated significant financing for state-owned enterprises, demonstrating its ability to navigate complex transactions and provide valuable insights [17][18].