Mergers and acquisitions enter the stage of performance realization, helping listed companies steadily improve their quality.

From the disclosed 2025 annual report performances, it can be seen that the A-share mergers and acquisitions are gradually entering the stage of performance realization. A group of listed companies that have completed major asset restructurings have delivered impressive results by injecting high-quality assets, extending the industrial chain, and continuously releasing the synergies of business cooperation - either with a significant increase in net profit, or successfully turning losses into profits. The reform efficiency of mergers and acquisitions is now transforming into a dynamic practice of performance realization and value enhancement for listed companies. At the same time, the focus of this round of mergers and acquisitions on serving technological innovation is gradually showing results in areas such as innovation in merger methods and cross-border integration standardization. Li Qiusuo, Chief Domestic Strategy Analyst of CICC Research Department, stated that with continuous policy support, the mergers and acquisitions market is experiencing a new cycle of prosperity, with a focus on domains that align with the construction of a modern industrial system and the development direction of new productive forces.