自动播放 一、国产替代：聚酰亚胺的破垄断之路 当下，全球汽车产业正以迅猛之势向绿色化、智能化转型，新能源汽车成为这场变革浪潮中的重要力 量。截至2024年底，我国新能源汽车保有量已达3140万辆，占汽车总量的8.90%。作为新能源汽车的核 心动力源，动力电池备受行业关注。在锂电池的内部结构中，有一个部件虽然轻薄，却承担着保障电池 安全的关键使命，它就是隔膜。这层看似普通的薄膜，肩负着两项重要职责：它既要像卫士般隔离正负 极以防短路，又要为锂离子搭建自由穿梭的通道以保障电荷传导，其性能直接决定电池的安全与寿命。 聚酰亚胺（PI）材料被誉为"二十一世纪最有希望的工程塑料之一"，凭借优异的耐辐照、耐腐蚀、耐高 低温性能，以及卓越的化学稳定性、力学性能和介电性能，稳居高性能聚合物材料金字塔顶端。作 为"十四五"国家战略性新材料，PI是航空航天、电子电气、新能源汽车、国防军工等尖端领域不可或缺 的关键基础材料，与碳纤维、芳纶纤维并称为制约我国高技术产业发展的三大"卡脖子"高分子材料。 本期《隐形冠军》将走进浙江中科玖源新材料有限公司（以下简称"中科玖源"），共同探寻这家成立仅 六年的国家高新技术企业、浙江省"专精特新" ...

Core Viewpoint - The recent merger and acquisition activities in the Shenzhen Stock Exchange (SZSE) are being driven by policy support, capital empowerment, and industrial upgrades, leading to a significant increase in the number of disclosed projects and total transaction value since the introduction of the "Six Guidelines" by the China Securities Regulatory Commission (CSRC) [1][2]. Group 1: Merger and Acquisition Trends - The SZSE has seen a total of 767 disclosed merger and acquisition projects since the "Six Guidelines" were released, with a combined value of 2,940 billion yuan, including 89 major asset restructurings valued at 1,149 billion yuan [1]. - Companies are increasingly focusing on synergistic effects through mergers and acquisitions, enhancing industrial integration and improving supply chain layouts [2]. - Notable examples include State Power Investment Corporation's acquisition of 100% of China National Nuclear Power Co., which aims to consolidate nuclear power assets, and Beijing Huada Jiutian's acquisition of a leading EDA company to strengthen its position in the integrated circuit industry [2]. Group 2: Transformation and Upgrading - Many companies are pursuing cross-industry acquisitions to accelerate structural adjustments and technological innovations, such as Shandong Yanggu Huatai's acquisition of a company specializing in polyimide materials for semiconductor applications [3]. - Companies are also focusing on strengthening weak links in their supply chains by acquiring quality but unprofitable assets, as seen in Jingrui Electronic Materials' acquisition of a majority stake in a microelectronics materials company [3]. - Mergers and acquisitions are becoming a vital channel for companies planning to go public to achieve asset securitization, exemplified by China Nuclear Suval's acquisition of a nuclear instrument company that previously withdrew its IPO application [3]. Group 3: Regulatory Support and Efficiency - The CSRC is actively reforming the merger and acquisition environment to enhance efficiency, including simplifying review processes and allowing flexible payment methods for transactions [6][7]. - Since the implementation of the "Six Guidelines," two companies in the SZSE have utilized targeted convertible bonds to improve the flexibility and efficiency of their mergers and acquisitions [6]. - Future regulatory measures are expected to further support mergers and acquisitions for technology-driven companies, enhancing review efficiency and payment flexibility [7].

21世纪经济报道记者 杨坪 深圳报道 据了解，本次交易有助于华大九天构建从芯片到系统级的EDA解决方案，实现EDA全流程工具系统、 EDA产业自主可控，为我国集成电路产业持续健康安全发展提供支撑和保障。 再如隆扬电子（301389）拟收购德佑新材100%股权，标的主营消费电子领域功能性涂层复合材料业 务，是国内功能性涂层复合材料领域的知名企业，通过本次交易，隆扬电子进一步扩充公司产品品类。 值得一提的是，也有部分企业基于转型升级等目标开展跨行业并购，多聚集于半导体、高端装备等新质 生产力领域，共计16单。如阳谷华泰（300121.SZ）拟收购波米科技100%股权，标的主营聚酰亚胺 （PI）材料，用于半导体先进封装与液晶显示面板，可实现半导体封装关键材料进口替代；友阿股份 （002277）现主业为百货零售业务，拟收购尚阳通100%股权，切入功率半导体领域，打造第二增长曲 线，加快向新质生产力转型；金利华电（300069）现主业为玻璃绝缘子业务，拟收购海德利100%股 权，标的主营高压流体设备产品，主要用于航天军工及氢能领域，通过本次交易上市公司将新增高压流 体装备业务板块，实现业务范围的扩展和产业升级。 与此同 ...