"从延长产业链到切入新赛道，并购重组已然成为上市公司实现高质量发展的'助推器'。"近日，招商证 券投资银行委员会并购业务部负责人王大为在接受证券时报记者采访时表示，当前并购业务的机遇主要 来自政策红利与产业升级的共振。 中小市值企业并购领跑 自去年9月"并购六条"实施以来，全市场新增重大资产重组交易超过200单。政策工具创新也在释放市场 活力，已有案例显示，股份对价分期支付、简易审核程序等机制显著提升了交易效率，特别是市值超百 亿元且信息披露优质的公司享受到了审核流程精简的红利。 在王大为看来，当前A股并购交易的驱动因素主要有三类：一是战略转型，传统企业通过并购切入新赛 道；二是产业链延伸，上市公司通过横向或纵向整合强化核心竞争力；三是培育第二增长曲线，通过注 入优质资产拓展盈利增长点。 根据公开市场数据，按证监会二级行业统计，计算机、通信和其他电子设备制造业上市公司的重大资产 重组数量居于首位。不同规模的上市公司均有参与，但中小型市值企业（20亿—120亿元）表现得尤为 活跃，"因为既有扩张需求，又具备灵活决策机制"。 基于实操经验，王大为还勾勒了"最受买方青睐的资产"画像——首先，在行业属性上，高技术装备 ...

Group 1 - Several A-share listed companies completed mergers and acquisitions in the first half of this year to strengthen their industry positions and enhance performance [1] - Hanlan Environment completed the acquisition of Guangdong Feng Environmental Power Co., Ltd. in June, contributing approximately 60 million yuan to the net profit attributable to shareholders in the first half of the year [1] - Hanlan Environment's total garbage incineration power generation project capacity reached 97,590 tons/day, ranking among the top three in the domestic industry and first among A-share listed companies [1] Group 2 - The Vice Secretary-General of the China Urban Expert Think Tank Committee stated that the synergistic development post-merger has significantly enhanced Hanlan Environment's leading position in the domestic solid waste industry [2] - The success of mergers is measured by the degree of post-merger synergy, which helps expand enterprise scale and improve overall industry quality and efficiency [2] - Other A-share listed companies, such as Guangdong Hongda and Yantai Debang Technology, also completed mergers in the first half of the year [2] Group 3 - Guangdong Hongda's acquisition of Xinjiang Xuefeng Technology added new chemical products to its main business, enhancing production capacity and optimizing layout [3] - Guangdong Hongda reported a revenue of 9.15 billion yuan in the first half of the year, a year-on-year increase of 63.83%, with a net profit of 504 million yuan, up 22.05% [3] - Debang Technology's acquisition of Suzhou Taijino New Materials Technology expanded its layout in high-end thermal interface materials, contributing 8.25 million yuan to revenue growth [3] Group 4 - The importance of both pre-merger evaluation and post-merger integration is emphasized, as true strategic upgrades and realization of merger value can only be achieved through effective integration [4]