New M & A Symposium is about to be held: A -share M & A market summary in 2021 and the 2022 pre -judgment report will be released soon

The 21st Century Business Herald reporter Yangping Shenzhen Reporting IPO valuation advantage has gradually declined. A -share M & A spring is coming soon?

This is the theme of the "A-Share M & A Report" released by the 21st Century Capital Research Institute-Fed of Securities M & A Research Center (hereinafter referred to as the 21st Capital-Fed M & A Research Center).

With the in -depth advancement of the registration system and the active guidance of the regulatory level, as an important theme of the capital market, the mergers and acquisitions and reorganizations have also quietly changed -although the scale of major asset acquisitions is still low, it has begun to stop falling and stabilize. With the core of industrial logic and promoting the quality of listed companies as the core.

In order to better give play to mergers and acquisitions and reorganize the optimization of resource allocation functions, enhance the competitiveness of listed companies' enterprises, and achieve high-quality development of China's capital market, 21 Capital-Fed M & A Research Center will be held on July 25 to hold the "Southern Finance International Forum M & A new mergers and acquisitions. The Trend Symposium and "Summary of A -Share M & A Market in 2021 and the 2022 Prediction Report" online conference ", invite A -share first -line mergers and acquisitions participants and industry leaders to talk about the new trend and new opportunities of A -share acquisitions under the registered system, new opportunities, new opportunities under the registered system Essence

Industry leaders talk about the new trend of the merger and acquisition market

2021 is a milestone year. As the year of the "Fourteenth Five -Year Plan", standing at the historical intersection of "two hundred years", the national economy has recovered, stable, stable, stable, and stable in the post -epidemic era. As well as, the capital market also moved forward in the ups and downs.

As an important theme of the capital market, positive signals have also emerged in the merger and reorganization market.

As one of the main sponsor of the 21st Capital-Fed M & A Research Center, Yin Zhongyu, head of the Fed of Securities Investment Bank business, pointed out that with the in-depth advancement of the registration system, the IPO dividend is gradually receding, and the IPO valuation advantage has declined significantly.

"We believe that M & A and reorganization will become the first choice for more companies. In 2022, A -share M & A spring is coming." Yin Zhongyu further said.

Chen Chenxing, the executive editor of the 21st Century Business Herald, pointed out that M & A and reorganization is an important way and means to optimize the allocation of resources in the capital market, realize value discovery functions, and serve the high -quality development of the real economy. In the future Platform operation.

This is also the original intention of the 21st Century Capital Research Institute to continue to cultivate the research in the field of mergers and acquisitions.

The reform of the A -share registration system has been steadily implemented for nearly three years. As one of the important parts of the reform of the registration system, the M & A and reorganization system of the listed company has been further improved. The reorganization plan under the registration system is more diverse, flexible, and tolerant.

Based on the exploration of mergers and acquisitions under the registration system, the event was jointly launched by the 21st Century Capital Research Institute and Fed of the Federal Reserve Securities of the Southern Finance and Economics Group. The market summary of 2021 and the 2022 pre -judgment report "online conference" (hereinafter referred to as "seminar"), intending to invite regulatory agencies, first -line mergers and acquisitions participants, senior observer observer of academic institutions, jointly explore the reform of the merger and reorganization market under the reform of the registration system New trends, new opportunities.

It is understood that this seminar will be launched by the 21 Capital-Fed M & A Research Center to implement the combination of "online and offline". Establish a series of live streaming columns on the 21st Century Business Herald and related media platforms. Dialogue with the round table.

"2021 A -share M & A Report" is about to be released

It is worth mentioning that at the Seminar of the "New Trend of M & A", 21 Capital-Fed M & A Research Center will also release the "2021 A-Share M & A Report", which will be dismantled in detail in the 2021 M & A market, and right In 2022, the M & A trend was predicted.

The "2021 A -share M & A Report" is divided into five chapters. In the first chapter, we answered whether the M & A restructuring market has bottomed out through a series of data and the reasons for the 2021 regulatory authorities to reject the acquisition project. aspect;

In the second chapter, we revealed the changes in the control of the listed company in 2021 and whether the market value and operating conditions of the control of listed companies have improved the market value and operating conditions. In particular, private controlling shareholders will transfer the controlling stake in the listed company Whether to give state -owned capital in the future has achieved the expected effect more interesting;

In Chapter 3, we use a series of dynamic data to reveal the reality that "bankruptcy and reorganization is no longer the spiritual crickets of listed companies".

In Chapter 4, we recommend that the red line of the delisting company cannot be reorganized as soon as possible.

Based on the analysis and judgment of the above chapters, this report has clearly published the historical trend of the IPO valuation advantage for the first time in Chapter 5, and boldly predicts that the Spring of A -share M & A spring is coming.

21 Capital-Fed's M & A Research Center found that with the in-depth advancement of the registration system, the IPO dividend is gradually fading, and the advantages of IPO valuation have fallen significantly. There is no substantial difference in the valuation of small market value companies to choose IPO listing and selection of mergers and acquisitions. Assuming that the company has 150 million net profit and the valuation of 20x P / E ratio, the overall valuation of the selection of mergers and acquisitions can also reach 3 billion yuan. In the case of, choosing mergers and acquisitions can not only save the time cost of limited sales after the IPO, but not to bear the risk of further decline in market value in the future. According to the 21st Century Business Herald, several mergers and acquisitions that the Fed's Securities Investment Bank Business Department has also faded in the past six months also confirms the above views. Although the enterprise meets the standards of the IPO alone, some even have a valuation of more than 3 billion, but the company's actual enterprise is real. The controller considers that there is no significant difference between the M & A valuation and the IPO, and the introduction of new actual controller through mergers and acquisitions is conducive to enterprises to grow bigger and stronger as soon as possible, and the second generation of the family has a larger career stage. Reorganize, not IPO.

Based on this background, in 2022, it is expected to become the first year of the Chinese capital market for mergers and acquisitions and reorganizations. Development has made greater contributions.

Produced: Nancai Think Tank · 21st Century Capital Research Institute, 21st Century Economic Herald (research, participation and obtaining reports, please contact Miss Lu 020-87374337, [email protected])

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