Shanghai Stock Exchange M&A Market Gains Momentum with Steady Start and Targeted Moves

Shanghai Securities News · www.cnstock.com         Feng Xinyi

Recently, Riamb (Beijing) Technology Development Co., Ltd. announced its plans to acquire 100% of Suzhou Suike Intelligent Technology Co., Ltd., enhancing its smart logistics portfolio and showcasing the collaboration between leading state-owned enterprises and private enterprises. Since the release of the "Six M&A Measures" on September 24, 2024, the M&A market on the Shanghai Stock Exchange has progressed steadily, with 557 announced transactions across the market, including 69 major M&A transactions—an increase of 330% year-on-year. Since the introduction of the "Eight Measures" on June 19, 2024, the SSE STAR Market has witnessed the new disclosure of over 90 equity acquisitions, with a transaction amount exceeding 22 billion yuan, while the number of major asset reorganization projects in 2024 has already exceeded the total from the past five years (2019-2023).

This year, the heat of major M&A transactions has been high with diverse forms. In the context of industrial upgrading, listed companies are deeply involved in industrial integration through M&A.

“Anchor” the Industry: Steady Start and Accurate Moves

From September 24, 2024 to April 6, 2025, approximately 70% of major M&A transactions on the Shanghai Stock Exchange were industrial acquisitions, with pre-IPO assets serving as a primary source of M&A targets. For example, PNC Process Systems Co., Ltd., which has been making strategic moves since 2019, recently plans to acquire 83.7775% of WYLTON JINGLIN because the target company's IPO progress is slow and the company considers the cyclical nature of semiconductor capital expenditures. Market observers indicate that listed companies have a clearer logic behind their industrial restructuring plans now , with more mature proposals. Shanghai OPM Biosciences Co., Ltd. is planning to acquire PharmaLegacy, which has IPO experience, allowing for synergies between their respective business sectors.

Focus on Integration: Strong Confidence and Diverse Attempts

M&A based on the industrial chain is showing greater confidence and willingness to try multiple approaches. Since 2025, the Shanghai Stock Exchange has seen 34 new major M&A transactions, with industrial acquisitions heavily concentrated in sectors such as semiconductors, biomedicine, and software. After the introduction of the "Eight Measures", SSE STAR Market-listed companies have engaged in acquisitions of overseas firms and unprofitable enterprises, benefiting from increased policy tolerance. For example, National Silicon Industry Group Co., Ltd. plans to acquire part of the equity of its holding subsidiary to fully control the core assets of the second phase 300mm large silicon wafers and strengthen business control and industrial chain coordination. Bide Pharmatech Co., Ltd. has improved its layout through step-by-step overseas acquisitions and plans to acquire Combi of the United States, with substantial synergies in aspects such as product varieties and technological accumulation between the two parties.

In the context of supply-side reform and industrial upgrading, M&A has become a core tool for enterprises to integrate resources and enhance the resilience of their industrial chains, facilitating deep industry integration.

The above information is provided for reference purposes only and does not constitute investment advice.