2025年TMT行业十大并购案概览 Technology, Media & Telecom | Top M&A Transactions | 榜首与重磅交易 1 = 榜首:海光信息 = 中科曙光 1,159.67 亿元 赛道: 半导体 / 算力 性质: 多数股权 地区: 北京 CN 意义：中国算力领域的"航母级"整合，旨在打造从芯片到服务器的完整自主产业链。 | 腾讯音乐 → 喜马拉雅 ~170 亿元 2 JJ 数字音频 | | | | 耳朵经济大一统 百度 → YY Live 3 ~147 亿元 曾 直播/内容 TCL科技 → 深圳华星半导体 4 115.6 亿元 ■ 半导体显示 ♀ 并购地图 - 标的资产所在地分布 · 80利用 ● 会融与营投 : ● ● 广州 都是 通信与会影 ● 硬科技 ● 金融科技 ● 传媒 ● 互联网 ● 跨境 ● 硬科技 ● 金融科技 ● 传媒 ● 互联网 ● ● 跨境 宣 北京 ll 上海 中科曙光 (算力整合) 新潮传媒、达达集团 ■ 成都 ■ 广州 新潮传媒 (梯媒) YY Live (直播) 8 香港 Bright Smart, HKBN 2.2025年6月，腾讯音乐以 ...

截至2025年12月18日收盘，交银国际（03329）报收于0.36元，较前一交易日下跌1.37%，该股当日开盘 0.37元，最高0.37元，最低0.36元，成交额达45.82万元。近52周最高1.08元，最低0.25元。 交银国际近日公告，公司于2025年12月17日举行股东特别大会，会上以投票方式正式通过三项普通决议 案。决议案内容包括：批准、追认及确认自动重续物业租赁框架协议的年期至截至2028年12月31日止三 个年度，并批准相关建议年度上限；批准、追认及确认订立截至2028年12月31日止三个年度的新金融服 务框架协议及相关年度上限；批准、追认及确认订立同期的新金融科技服务框架协议及相关年度上限。 上述决议案均获得99.999314%的赞成票（145,785,167股），反对票占0.000686%（1,000股）。交通银行 及其联系人合计持有公司约73.14%股份，因涉及关连交易需放弃投票，独立股东持有的股份约占总发 行股份的26.86%。所有决议案获正式通过为普通决议案。点票由香港中央证券登记有限公司担任监票 员。 最新公告列表 《于2025年12月17日举行之股东特别大会投票表决结果》 以上内容 ...

近日，信锘国际（SYNO Infinity）宣布正式启动"赴美上市筹备计划"，目标登陆美国资本市场。随着上 市进程的开启，信锘国际的全球化战略布局进一步提速，被多家市场研究机构视为具备成长为"下一阶 段独角兽企业"的潜力公司之一。 信锘国际深耕国际金融与资产管理领域多年，核心管理团队拥有超过20年行业经验，长期关注资本市场 周期、国际政策变动和金融科技创新。公司在过去一年保持稳健扩张，业务延伸至东南亚、东亚、中东 及北美等区域，形成多业务、多区域的增长矩阵。 业内分析指出，信锘国际的优势主要体现在三个方面： 1.全球化布局早、战略完整 据信锘国际管理层透露，当前公司已同步推进内部治理结构升级、财务体系国际化审计、风控合规体系 强化等上市前关键工作。分析人士指出，在全球金融市场趋向审慎、合规要求提升的大背景下，信锘国 际选择此时启动赴美上市筹备，显示出其对自身业务模式、长期增长路径与全球竞争力的高度自信。 深耕金融科技多年，信锘国际积累行业底蕴 团队对国际金融周期有深度理解，使信锘国际能够保持稳健前行。 信锘国际自成立初期便明确推进国际市场规划，为后续拓展奠定基础。 2.专业团队具备强抗周期能力 3.业务模型具 ...

Core Viewpoint - China's economy in 2025 is at a critical juncture, showcasing resilience and a strong foundation for sustainable growth despite global uncertainties [1] Group 1: Economic Performance - The economy achieved a growth rate of 5.2% in the first three quarters, reflecting its ability to navigate challenges and maintain momentum [1] - The focus is on high-quality development, emphasizing the need for vitality, resilience, innovation, and effective empowerment [1] Group 2: Forum Overview - The 19th Huaxia Institutional Investor Annual Conference will be held on December 12, 2025, in Beijing, centered around the theme "Vitality and Resilience, Innovation and Empowerment" [1] - The forum aims to gather insights from various experts to explore how to activate market vitality and enhance collaborative effects within the industrial ecosystem [2] Group 3: Resilience and Innovation - Resilience is defined as the ability to withstand pressure and adapt, stemming from a large domestic market, a complete industrial system, and flexible policy adjustments [3] - The forum will discuss how to build a more resilient financial system and industrial ecosystem to ensure stable long-term development [3] - Innovation is highlighted as a means to break traditional dependencies, with financial technology reshaping the industry and driving new products and services [3] Group 4: Empowerment - Empowerment involves optimizing resources and capabilities to enhance overall value, with financial institutions playing a crucial role in supporting economic growth and structural optimization [4] - The forum will feature high-level dialogues and case studies to analyze practical empowerment strategies and the creation of a new financial and industrial landscape [4] Group 5: Future Outlook - The conference serves as a platform for sharing insights on macroeconomic trends, financial technology, investment strategies, and collaborative value creation [5] - 2025 is seen as a pivotal year for adapting to changes in the global economy while maintaining a commitment to high-quality development and sustainable economic ecosystems [5]

Group 1 - Shanghai ranks second globally in the 2025 Global Fintech Center Development Index, surpassing London for the first time [1][5] - The index features a nested evaluation system, assessing cities based on fintech development level, potential, and environment, with a focus on the dual empowerment potential of finance and AI [3] - The Shanghai Fintech Development White Paper (2025) estimates the fintech industry scale in Shanghai to exceed 440 billion yuan, utilizing a new measurement approach based on revenue and other indicators from 396 representative fintech companies [6] Group 2 - Shanghai is also a leader in the number of fintech regulatory innovation projects, with significant improvements in the fintech development environment through various financial technology initiatives [8]

"尤其在今年，人工智能技术实现关键突破，正加速在各行业落地应用，深刻改变着人们的生产生活方 式，全球资本市场也同步迈入'人工智能+'的新阶段。"陈翊庭介绍称，港交所在实践中愈发深刻地认识 到科技赋能的核心价值，近年来，持续推出一系列优化服务、提升市场效率的战略举措，而这些举措的 落地，始终离不开金融科技这一核心支撑，更离不开云计算、大数据、人工智能等先进信息技术的深度 应用。 11月28日，港交所集团(以下简称"港交所")行政总裁陈翊庭在2025大湾区交易所科技大会上表示，当 前，我国正身处市场环境快速变化的时期，地缘政治格局调整、市场波动加剧，科技正深刻重塑全球金 融服务的形态与模式，这既为金融市场的建设者和参与者带来了挑战，也提供了全新的发展保障与机制 支撑。 具体来看，港交所已将人工智能技术融入日常办公运营环节，大幅减少了事务性工作与信息整理的时间 成本，显著提升了办公效率；在上市公司年报审阅工作中，人工智能技术的应用也有效提高了信息披露 违规行为的识别效率与精准度。此外，港交所正积极探索人工智能在金融监管数字化转型中的应用场 景，例如借助人工智能技术提升发行审核工作效率，通过人工智能辅助监管核查，进一 ...

Core Insights - The strategic partnership between Bloomberg and Guotai Haitong Securities aims to enhance internationalization, technology integration, and global market expansion for Guotai Haitong [1][4] - Bloomberg's founder emphasizes the importance of the Chinese financial market in the global economy and the goal of strengthening connections between Chinese and global capital markets [3] - Guotai Haitong is recognized as a leading comprehensive financial service provider in China's capital market, with total assets exceeding 2 trillion yuan and maintaining industry-leading net capital and net assets [5] Group 1 - The two-year strategic cooperation will focus on financial data, fintech, and market expansion, leveraging Bloomberg's global data and network resources [1] - The collaboration aims to enhance Guotai Haitong's global market influence and investor communication efficiency while supporting Bloomberg's business expansion in China [1][4] - The partnership follows the merger of Guotai Junan and Haitong Securities, marking a new chapter in their collaboration [4] Group 2 - As of September 2025, Guotai Haitong's total assets are over 2 trillion yuan, with net capital at 186.74 billion yuan and net assets at 324.14 billion yuan, both leading in the industry [5] - Guotai Haitong focuses on customer-centric services, leveraging strong asset allocation, value insight, trading execution, and global pricing capabilities to deliver stable value returns [5]

Core Insights - Tencent's Q3 financial results exceeded market expectations, with revenue and net profit both increasing due to the synergy between core business and AI technology [1] Revenue Growth - Q3 revenue reached 192.87 billion yuan, a year-on-year increase of 15% and a quarter-on-quarter increase of 5%, surpassing the forecast of 188.8 billion yuan [2] - Gross profit for the quarter was 108.80 billion yuan, reflecting a year-on-year increase of 22% and a quarter-on-quarter increase of 4% [2] - Net profit attributable to equity holders was 63.13 billion yuan, up 19% year-on-year and 13% quarter-on-quarter, exceeding the expected 55.88 billion yuan [2] Gaming Revenue - Domestic gaming revenue grew by 15% year-on-year to 42.8 billion yuan, driven by new game releases and the performance of established titles [3] - International gaming revenue surpassed 20 billion yuan for the first time, reaching 20.8 billion yuan, a 43% year-on-year increase [3] Value-Added Services - Revenue from value-added services increased by 16% to 95.9 billion yuan in Q3 [3] Marketing Services - Marketing services revenue rose by 21% to 36.2 billion yuan, attributed to increased ad exposure and improved user engagement [4] Financial Technology and Enterprise Services - Financial technology and enterprise services revenue grew by 10% to 58.2 billion yuan, driven by increased commercial payment activities and demand for AI-related services [5]

Core Insights - Tencent's financial technology and enterprise services revenue for Q3 2025 increased by 10% year-on-year to RMB 58.2 billion [3] - The growth in financial technology services revenue was driven by increased commercial payment activities and consumer loan services [3] - Enterprise services revenue saw a growth of over ten percent, supported by rising demand for cloud services, particularly AI-related services, and increased transaction volumes from WeChat stores [3] Group 1 - Commercial payment volume growth accelerated compared to Q2, benefiting from strong online payment growth and improved offline payment trends, especially in retail and transportation sectors [1] - Financial technology services revenue experienced high single-digit percentage growth, primarily due to increased commercial payment activities and consumer loan services [3] - Enterprise services revenue growth was significantly influenced by the expansion of cloud services and the rising demand for AI-related services [3]

Core Insights - Tencent's financial technology and enterprise services revenue increased by 10% year-on-year to 58.2 billion yuan in Q3 2025 [1] Financial Technology Services - Financial technology services revenue experienced a high single-digit percentage growth, primarily driven by increased commercial payment activities and consumer loan services [1] Enterprise Services - Enterprise services revenue grew by over ten percent year-on-year, benefiting from the rise in cloud service revenues, which included increased demand for AI-related services from corporate clients [1] - The expansion of transaction volumes in WeChat Mini Programs contributed to the growth in merchant technology service fees [1]