The Era Of Mergers And Acquisitions Of Listed Companies Is Coming.

In the first ten months of 2014, there were 3200 mergers and acquisitions in 1545 listed companies in the A share market, and the number of mergers and acquisitions reached a record high.

It is worth noting that in 2011, this figure was 1087, and in 2012 the number of mergers and acquisitions increased to 1814, and in 2013 it jumped to 2523.

In the first 9 months of this year, this data has easily surpassed last year, and in this year's A share market, an average of 12 mergers and acquisitions occur every day.

Wang Zhulin, chairman of the Yinhua Fund and chairman of the China Association for mergers and acquisitions financing Committee, said at the "China listed company summit" that the 2014 surge of mergers and acquisitions meant that the big era of mergers and acquisitions really came. The motive force of the acquisition came from the demand for economic restructuring and industrial pformation and upgrading.

The 12 ministries and commissions such as the Ministry of industry and the Ministry of development and reform jointly released the guiding opinions on accelerating the annexation and reorganization of enterprises in key industries yesterday.

The "opinions" explicitly require that by 2015, the automobile industry, the first 10 automobile enterprises will have an industrial concentration of 90%; the iron and steel industry, the top 10 iron and steel enterprise groups will reach 60% of the industrial concentration; the cement industry, the first 10 cement enterprises will reach 35% of the industrial concentration; the shipbuilding industry, the former 10 shipbuilding enterprises will account for more than 70% of the total national shipbuilding capacity.

Wang Zhulin believes that the current A share market, on the one hand, has the background of economic pformation. On the one hand, there is the need for enterprise development strategy and market competition. The third is that the policy now provides more convenience, so it can enter the era of M & A in 2014.

He said that the liberalization of the institutional level in the past two years is not an opportunity for mergers and acquisitions in the first 20 years. Enterprises should firmly seize this opportunity.

But enterprises should not blindly mergers and acquisitions. First of all, enterprises should be clear about their core competitiveness. Secondly, they should be sincere, patient and careful to investigate the risks of any possible risks.

For some listed companies in the process of overseas mergers and acquisitions specialization division, preferably through professional team to complete.

National small and medium enterprises

Chen Yongmin, deputy general manager of the system, believes that the adjustment of production factor prices is also one of the reasons for the "blowout" of mergers and acquisitions.

There are many labor-intensive enterprises along the coast of China. Due to the changes in labor prices and land prices, many mergers and acquisitions have been formed.

The development history of Ctrip, a leading enterprise in China's tourism website, is a history of mergers and acquisitions. Since its establishment in 1999, mergers and acquisitions have continued, especially after 2013.

Ctrip's $15 million stake in the stock market has been invested in more than $200 million in cash strategic investments.

Wu Wenjie, chief strategy officer of Ctrip, believes that China's Internet companies have paid more attention to their own fields before the merger. In recent two years, Internet companies have emerged new characteristics of mergers and acquisitions, that is, breaking the boundaries between the online and offline industries, and achieving integration between online and offline businesses.

Wu Wenjie also said that Ctrip will continue to improve its call center and enhance its service capabilities, and at the same time, through mergers and acquisitions, it will further connect and connect the upstream and downstream industrial chains.

It is understood that a total of 7 new three Board companies have been listed as takeover targets, involving more than ten billion yuan, and the new three boards have become the target pools for listed companies to purchase.

Chen Yongmin believes that there are opportunities and needs for mergers and acquisitions in the capital market. However, one of the important factors is to have a market platform to achieve information disclosure and information symmetry on the platform.

The new three boards can better solve the information asymmetry and pricing problems in the process of mergers and acquisitions. Besides the listing and concept financing, the new three boards will also play an important role in the future.

He said that mergers and acquisitions have become the main theme of the A share market, and more and more listed companies have cast their sights on the new three board market. Compared with other small and medium enterprises, the new three board listed company has more standardized and pparent characteristics, and the normalization of all aspects undoubtedly enhances its competitiveness as the target of mergers and acquisitions.

Wu Wenjie also said that Ctrip might choose the target of merger and acquisition through the new three boards in the future.

Dong Shaopeng, deputy editor in chief of the public company, said that through the acquisition of state-owned assets such as high-speed rail and airlines, Ctrip is expected to realize the reform of mixed ownership in the perspective of private capital.

"With the development of private capital, some enterprises have the ability to participate in the governance of large state-owned enterprises and have the ability to play a certain role.

Moreover, many state-owned enterprises are listed companies, and from the perspective of the whole system planning, they also have the precondition.

Chen Yongmin said.