Core Insights - A-share companies are increasingly pursuing mergers and acquisitions (M&A) of companies planning to go public, with 23 cases reported from 2025 to the present [1] - Since the release of the "M&A Six Guidelines" on September 24, 2024, 40 A-share companies have disclosed related matters, including those that have been terminated [1] Summary by Category - **M&A Activity**: The trend of A-share companies acquiring IPO-bound firms is accelerating, with a total of 23 cases identified since 2025 [1] - **Guidelines Impact**: The "M&A Six Guidelines" have led to 40 disclosures by A-share companies regarding M&A activities, indicating a significant regulatory influence on market behavior [1] - **Industry Focus**: Out of the 40 companies involved, 31 are focusing on consolidating within their core business areas (either in the same industry or along the supply chain), while 9 are engaging in cross-industry mergers [1]