Recently, the market for mergers and acquisitions has significantly heated up. According to incomplete statistics from China Securities Journal reporters, since the China Securities Regulatory Commission issued the "Opinions on Deepening the Reform of the Market for Mergers and Acquisitions of Listed Companies" on September 24 (i.e. the "Six Articles on Mergers and Acquisitions"), as of 18:00 on November 18, 74 A-share companies have issued announcements related to mergers and acquisitions. Among them, strategic emerging industries such as semiconductors and biomedicine have become battlefields for mergers and acquisitions. Experts believe that mergers and acquisitions are important tools for the capital market to support economic transformation and upgrading, and achieve high-quality development. Recently, supportive policies have been continuously introduced to optimize the market environment for mergers and acquisitions, which is conducive to further stimulating the vitality of the merger and acquisition market, optimizing resource allocation, improving the operational efficiency of the capital market, and injecting stronger impetus into economic transformation and industrial upgrading. Targeting emerging industries: From the perspective of the industries to which the acquired targets belong, there are many strategic emerging industries such as semiconductors and biomedicine, and the transferor involves listed companies, industrial funds, natural persons, and other entities. Yingtang Zhikong recently announced that the company is planning to purchase control of Shenzhen Aixie Sheng Technology Co., Ltd. (referred to as "Aixie Sheng Technology") through issuing shares and other means. Due to the uncertainty surrounding this transaction, trading of the company's stock will be suspended from November 15, 2024, and a detailed trading plan is expected to be disclosed within no more than ten trading days. Yingtang Zhikong and the major shareholders of Shenzhen Aixie Sheng Technology Co., Ltd. have signed an intention agreement. According to the agreement, the company intends to acquire 60.65% of the shares of Aixie Sheng Technology and plans to further purchase shares held by other shareholders. The company stated that it will actively promote work related to this transaction during the suspension period, ensuring timely submission and disclosure of required documents, in order to resume stock trading as soon as possible. The announcement shows that Aixie Sheng Technology's main business includes the design, development, testing, and sales (excluding production) of integrated circuit products. According to the announcement disclosed by Xidiwei on the evening of November 17th, the company plans to purchase 100% of the shares of Shenzhen Chengxin Micro Technology Co., Ltd. held by Cao Jianlin, Cao Songlin, Lianzhi Chuangxin, and Huizhi Chuangxin through issuing shares and paying cash. 55% of the transaction consideration will be paid by the listed company through issuing shares, and 45% of the transaction consideration will be paid by the listed company in cash. At present, the audit and evaluation work of the target company has not been completed, and the specific transaction price has not been determined yet. According to the announcement released by Xidiwei, both the listed company and the target company are integrated circuit design enterprises. The target company has a solid technical accumulation in the research and development, design, packaging, testing, and other aspects of integrated circuits. Through this transaction, the listed company can quickly absorb the target company's mature patented technology, research and development resources, customer resources, etc., and expand its product categories. This transaction will help the listed company expand its technology and product layout, accelerate the expansion of product categories and downstream application areas, and enhance its sustainable business capabilities and market competitiveness. On November 18th, Xidiwei resumed trading, and as of the close of the day, the stock price was reported at 14.16 yuan/share, an increase of 20%. The announcement disclosed by Nanjing Chemical Fiber on the evening of November 15th shows that the company is planning asset replacement, issuing shares, and paying cash to purchase 100% of the shares of Nanjing Craft Equipment Manufacturing Co., Ltd., and raising matching funds. On November 18th, the stock price of Nanjing Chemical Fiber hit the daily limit up. As of the close, the company's stock price was reported at 7.7 yuan per share, with a closing increase of 10%. On September 24th, the China Securities Regulatory Commission released the "Opinions on Deepening the Reform of the Market for Mergers and Acquisitions of Listed Companies", further optimizing the restructuring review process, improving the efficiency of restructuring review, and activating the M&A and restructuring market. On November 1st, the Shanghai Stock Exchange announced that in order to further respond to market demands, help listed companies better understand policy guidance and grasp regulatory concepts, the exchange has compiled 30 representative M&A and restructuring cases in the Shanghai Stock Exchange in recent years, and will release them to listed companies in the form of a "Compilation of Typical M&A and Restructuring Cases" from today onwards. Based on the standardized operation of listed companies, the exchange will truthfully distinguish the nature and purpose of transactions, judge transaction risks, strictly control the quality of injected assets, guard against blind cross-border and "deceptive" restructuring, strictly supervise fraudulent restructuring, blind cross-border and other transactions, and crack down on various market chaos. Some regions have introduced supportive policies related to mergers and acquisitions, which have attracted market attention. Recently, the executive meeting of the Shanghai Municipal Government reviewed and approved the "Action Plan for Supporting Mergers and Acquisitions of Listed Companies in Shanghai (2025-2027)". The meeting emphasized that mergers and acquisitions are important means to improve the quality of listed companies and cultivate leading enterprises, and will focus on supporting projects that contribute to the development of new quality productivity and the strengthening of key industries. According to the action plan, the Shanghai Municipal Government will provide comprehensive services for mergers and acquisitions of listed companies, offer professional guidance, strengthen policy supply, effectively integrate resources, and achieve the effect of "1+1>2". At the same time, we will crack down on illegal activities such as financial fraud and maintain overall economic stability. Industry insiders believe that mergers and acquisitions are important tools for the capital market to support economic transformation and upgrading, and achieve high-quality development. Recently, regulatory authorities have continuously introduced policies for mergers and acquisitions to better leverage the main channel function of the capital market and stimulate the vitality of the merger and acquisition market. Pan Helin, a member of the Information and Communication Economy Expert Committee of the Ministry of Industry and Information Technology, told China Securities Journal reporters that mergers and acquisitions can optimize resource allocation. The continuous introduction of policies and the improvement of the M&A and restructuring market environment are conducive to enhancing the operational efficiency of the capital market, further stimulating the vitality of the M&A and restructuring market, and injecting stronger impetus into economic transformation and industrial upgrading. (New Society)