Observations on Capital Market Reform | A “tide” of mergers and reorganizations is emerging; industrial capital is moving towards “new” and “real” approaches
With the promotion of reform measures such as the new “Nine National Measures,” the enthusiasm for the M&A market has continued to rise since this year, with transaction amounts steadily approaching 700 billion yuan. According to statistics from CVSource of Investment Zhong Jia Chuan, in the first half of 2026, China’s M&A market disclosed 2,594 plans and completed 1,730 transactions, with a total disclosed amount of approximately 696.351 billion yuan. The number of M&A transactions in strategic emerging industries such as advanced manufacturing and electronic information increased significantly. M&A and restructuring are shifting from focusing on scale expansion to deep reconstruction of industrial logic, becoming a catalyst for serving the real economy and promoting the development of new quality productive forces. By promoting industrial integration and strengthening and補ting supply chains, the core focus of M&A has shifted from whether transactions can be completed to whether strategic value can be created. Data shows that good M&A is not just an addition to financial statements but also a multiplication of competitiveness: Fosu Technology’s net profit in the first half of the year is expected to increase by more than 14 times year-on-year; Xiamen Tungsten New Energy’s revenue increased by 91.09% year-on-year, and its net profit attributable to the parent company increased by 46.62%; Guotai Haitong’s net profit attributable to the parent company after deducting non-recurring items in the first half of the year increased by as much as 168.02% year-on-year. It is expected that the M&A market will continue to grow in the future…