Core Insights - In April, China's M&A market saw a total of 160 transactions, a month-on-month decrease of 13.0% and a year-on-year decrease of 38.2% [1] - The total disclosed transaction amount reached approximately 561.74 billion RMB, reflecting a month-on-month decline of 23.2% but a year-on-year increase of 23.6% [1] Transaction Types - Domestic M&A transactions accounted for 92.5% of the total, with 148 transactions, while cross-border M&A transactions totaled 12 [1] - Among the disclosed transactions, 79 were domestic with a total amount of 529.69 billion RMB, and 8 cross-border transactions amounted to 32.05 billion RMB [1] Regional Distribution - The majority of transactions were concentrated in major cities like Beijing, Shanghai, and Guangzhou, with Beijing leading at 20 transactions (12.5% of total) and Shanghai following with 13 transactions [1] - Qinghai province had a notable performance with transaction amounts reaching 137.29 billion RMB, accounting for 24.4% of the total [1] Industry Distribution - The M&A transactions involved 23 primary industries, with the financial and machinery manufacturing sectors leading at 21 transactions each (13.1% of total) [2] - The chemical raw materials and processing industry topped in transaction value at 149.99 billion RMB, representing 26.7% of the total [2] Notable Transactions - Zijin Mining's acquisition of a 24.98% stake in Zangge Mining for 137.29 billion RMB aims to leverage Zangge's expertise in salt lake development and lithium extraction [2] - Aorui Jin's acquisition of 75.56% of COFCO Packaging for approximately 56.30 billion RMB will enhance its product line in domestic packaging [2] VC/PE Activity - There were 34 M&A exit events in April, totaling 1.209 billion RMB, indicating increased activity in VC/PE exits [3] - Notable exits included Huahai Qingke's acquisition of a 6.67% stake in Chipwave Semiconductor, yielding a return multiple of 4.08 times [3] Market Outlook - Despite a decline in transaction numbers, the M&A market shows resilience with a growth in transaction value, indicating structural vitality [3] - The increase in VC/PE exit activity is expected to inject new vitality into the capital market, supporting industry development [3]

以下文章来源于清科研究 ，作者创造价值的 清科研究 . 清科创业（01945.HK）旗下清科研究中心致力于为众多的有限合伙人、VC/PE机构、战略投资者、以 及政府机构、律师事务所、会计事务所、投资银行、研究机构等提供专业的信息、数据、研究和咨询服 务。 年度盘点。 作者 | 清科研究 来源 | 清科研究 （ID：pedata2017） 01 整体回顾 02 市场分布 A股IPO总量同比收缩近七成，创业板上市企业数量相对较多 2024年中企IPO市场总体呈现出阶段性收缩态势，但下半年IPO活跃度环比有所回升。 根据清科创业（01945.HK）旗下清科研究中心统计，2024年中企境内外上市195家 【1】，同比下降51.1%，首发融资额约合人民币1442.66亿元【2】，同比下降 63.6%，上市企业数量和融资金额为近10年新低；其中，下半年有113家中企IPO，首 发融资额约合人民币973.53亿元，环比分别上升37.8%、107.5%。 分市场来看，2024年 A股 共有100家企业上市，同比下降68.1%； 境外市场 共95家 中企上市，同比上升10.5%，其中今年全市场首发融资额前三大中企IPO均于港股 ...