Over 500 mergers and acquisitions and restructurings in A shares at the beginning of the year, with the active participation of hard technology industries.

In 2026, the A-share merger and reorganization market continued to maintain a high level of prosperity, showing characteristics such as both quantity and quality rising, concentrated policy dividends being released, industrial foundation building, and active changes in control rights, becoming the key path to promoting the high-quality development of listed companies and nurturing new productive forces. As of February 25th, there have been 507 merger and reorganization transactions disclosed by listed companies since the beginning of the year, an increase of 33 compared to the same period last year, with a total amount of approximately 130 billion yuan. Among them, there were 20 major asset reorganization cases, which remained steady compared to the same period last year, and the overall transaction size remained stable. The field of hard technology continues to be the main battleground for merger and reorganization, with the market structure continuously optimizing. Looking at the segmentation, the number of mergers in the main board still dominates, accounting for 58.3%, but it has decreased by over 7 percentage points year-on-year, reflecting the transformation of traditional industry mergers from scale expansion to lean integration. The proportion of mergers in the innovation and entrepreneurship board has increased to nearly 38.9%, an increase of 7 percentage points year-on-year, with strong activity in hard technology sub-sectors such as semiconductors, artificial intelligence, and biomedicine. The proportion of mergers on the Beijing Stock Exchange is 2.77%, positioning itself as a platform for "specialization, expertise, and innovation" to provide differentiated supplements.