A-share M&A and restructuring activity remains at a high level, with horizontal mergers and upstream-downstream expansion becoming mainstream.

As of 18:00 on September 28, a total of 2,030 A-share listed companies had disclosed merger and acquisition (M&A) and restructuring matters, with the M&A and restructuring market remaining highly active. Since the beginning of this year, the number of cases involving horizontal integration around core businesses and vertical supply chain supplementation within industry chains has remained high. Through M&A and restructuring, companies are achieving upstream and downstream integration within industry chains, improving their industrial matrices, and creating new performance growth curves.