Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82

Deprecated: strpos(): Non-string needles will be interpreted as strings in the future. Use an explicit chr() call to preserve the current behavior in /www/wwwroot/4-17ll.com/label.php on line 82
教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!
随机图片

教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!

更新时间: 浏览次数: 843

400电话:123456(点击咨询)
教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!各观看免费《今日汇总》
教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!各热线观看免费2025已更新(2025已更新)








教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!观看免费电话:(1)123456(点击咨询)(2)123456(点击咨询)








教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!观看免费热线(1)123456(点击咨询)(2)123456(点击咨询)




教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!各区点热线观看免费《今日发布》
Random Image 教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!电话








7天观看免费人工电话为您、教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!团队在调度中心的统筹调配下,线下专业及各地区人员团队等专属,整个报修流程规范有序,后期同步跟踪查询公开透明。








所有团队均经过专业培训、持证上岗,所用产品配件均为原厂直供,








教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!各观看免费《今日汇总》2025已更新(今日/推荐)








教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!电话区域:








泰安市(宁阳县、新泰市、东平县、泰山区、肥城市、岱岳区)








滁州市(琅琊区、凤阳县、定远县、来安县、明光市、全椒县、天长市、南谯区)








岳阳市(君山区、岳阳县、平江县、临湘市、湘阴县、汨罗市、岳阳楼区、云溪区、华容县)








乌鲁木齐市(新市区、沙依巴克区、天山区、水磨沟区、乌鲁木齐县、头屯河区、米东区、达坂城区)  鸡西市(恒山区、鸡冠区、滴道区、梨树区、城子河区、鸡东县、麻山区、密山市、虎林市)








广安市(前锋区、武胜县、华蓥市、广安区、邻水县、岳池县)








晋城市(陵川县、高平市、沁水县、城区、泽州县、阳城县)








河池市(环江毛南族自治县、罗城仫佬族自治县、宜州区、巴马瑶族自治县、金城江区、大化瑶族自治县、都安瑶族自治县、南丹县、东兰县、天峨县、凤山县)阿克苏地区(拜城县、阿克苏市、库车市、沙雅县、新和县、温宿县、乌什县、柯坪县、阿瓦提县)








抚州市(东乡区、临川区、乐安县、金溪县、崇仁县、南丰县、黎川县、资溪县、宜黄县、南城县、广昌县)  韶关市(始兴县、武江区、乳源瑶族自治县、仁化县、浈江区、乐昌市、新丰县、南雄市、曲江区、翁源县)








阳泉市(郊区、盂县、平定县、城区、矿区)








大连市(沙河口区、旅顺口区、中山区、长海县、庄河市、金州区、甘井子区、普兰店区、瓦房店市、西岗区)








扬州市(江都区、广陵区、仪征市、宝应县、高邮市、邗江区)








汉中市(留坝县、洋县、宁强县、汉台区、佛坪县、城固县、南郑区、勉县、西乡县、镇巴县、略阳县)








长治市(武乡县、潞城区、沁源县、潞州区、沁县、长子县、平顺县、襄垣县、屯留区、黎城县、壶关县、上党区)








博尔塔拉蒙古自治州(阿拉山口市、温泉县、精河县、博乐市)








龙岩市(连城县、武平县、永定区、上杭县、长汀县、新罗区、漳平市)








聊城市(高唐县、阳谷县、临清市、东阿县、东昌府区、冠县、茌平区、莘县)








惠州市(龙门县、惠城区、博罗县、惠东县、惠阳区)








锦州市(义县、凌海市、凌河区、北镇市、黑山县、古塔区、太和区)








塔城地区(塔城市、沙湾市、托里县、乌苏市、和布克赛尔蒙古自治县、额敏县、裕民县)








南通市(通州区、启东市、海门区、崇川区、海安市、如皋市、如东县)








平顶山市(新华区、郏县、舞钢市、卫东区、湛河区、宝丰县、石龙区、鲁山县、叶县、汝州市)








盐城市(东台市、响水县、建湖县、盐都区、滨海县、大丰区、亭湖区、阜宁县、射阳县)








湘西土家族苗族自治州(泸溪县、永顺县、古丈县、吉首市、龙山县、凤凰县、保靖县、花垣县)








郴州市(嘉禾县、桂阳县、安仁县、汝城县、资兴市、临武县、苏仙区、桂东县、宜章县、北湖区、永兴县)








七台河市(勃利县、茄子河区、新兴区、桃山区)








酒泉市(瓜州县、玉门市、敦煌市、肃北蒙古族自治县、肃州区、金塔县、阿克塞哈萨克族自治县)








石嘴山市(惠农区、大武口区、平罗县)
400电话:123456(点击咨询)
教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!各观看免费《今日汇总》《今日发布》
教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!各观看免费《今日汇总》(2025已更新)








教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!观看免费电话:(1)123456(点击咨询)(2)123456(点击咨询)








教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!观看免费热线(1)123456(点击咨询)(2)123456(点击咨询)




教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!各观看免费《今日汇总》【2025已更新列表】
教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!电话








7天观看免费人工电话为您、教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!团队在调度中心的统筹调配下,线下专业及各地区人员团队等专属,整个报修流程规范有序,后期同步跟踪查询公开透明。








所有团队均经过专业培训、持证上岗,所用产品配件均为原厂直供,








教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!中心2025已更新(今日/推荐)








教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!电话区域:








咸宁市(崇阳县、赤壁市、通山县、嘉鱼县、通城县、咸安区)








伊犁哈萨克自治州(奎屯市、霍尔果斯市、察布查尔锡伯自治县、特克斯县、巩留县、尼勒克县、伊宁县、伊宁市、昭苏县、霍城县、新源县)








怀化市(沅陵县、芷江侗族自治县、辰溪县、中方县、通道侗族自治县、溆浦县、洪江市、鹤城区、靖州苗族侗族自治县、会同县、麻阳苗族自治县、新晃侗族自治县)








达州市(万源市、渠县、宣汉县、开江县、大竹县、通川区、达川区)  文山壮族苗族自治州(西畴县、马关县、文山市、麻栗坡县、砚山县、丘北县、富宁县、广南县)








吐鲁番市(高昌区、鄯善县、托克逊县)








苏州市(太仓市、吴中区、张家港市、昆山市、虎丘区、相城区、姑苏区、常熟市、吴江区)








周口市(郸城县、商水县、扶沟县、太康县、沈丘县、鹿邑县、川汇区、西华县、项城市、淮阳区)银川市(西夏区、兴庆区、灵武市、永宁县、金凤区、贺兰县)








兰州市(城关区、红古区、皋兰县、永登县、安宁区、榆中县、七里河区、西固区)  安康市(镇坪县、汉阴县、旬阳市、紫阳县、岚皋县、宁陕县、白河县、石泉县、汉滨区、平利县)








上饶市(广信区、德兴市、万年县、婺源县、广丰区、玉山县、铅山县、信州区、鄱阳县、余干县、横峰县、弋阳县)








六盘水市(盘州市、六枝特区、钟山区、水城区)








雅安市(雨城区、石棉县、荥经县、天全县、汉源县、名山区、宝兴县、芦山县)云浮市(云安区、郁南县、新兴县、云城区、罗定市)








西宁市(湟中区、城北区、城西区、湟源县、大通回族土族自治县、城东区、城中区)








秦皇岛市(北戴河区、卢龙县、青龙满族自治县、昌黎县、山海关区、海港区、抚宁区)








南充市(嘉陵区、顺庆区、高坪区、阆中市、西充县、仪陇县、营山县、蓬安县、南部县)








成都市(新津区、青白江区、邛崃市、温江区、蒲江县、成华区、金牛区、锦江区、大邑县、彭州市、金堂县、双流区、都江堰市、新都区、简阳市、郫都区、龙泉驿区、青羊区、武侯区、崇州市)








德州市(禹城市、平原县、齐河县、德城区、临邑县、宁津县、夏津县、乐陵市、陵城区、武城县、庆云县)








喀什地区(疏附县、英吉沙县、莎车县、泽普县、伽师县、巴楚县、塔什库尔干塔吉克自治县、叶城县、麦盖提县、疏勒县、岳普湖县、喀什市)








黔东南苗族侗族自治州(岑巩县、黄平县、凯里市、镇远县、台江县、剑河县、雷山县、锦屏县、三穗县、榕江县、从江县、天柱县、黎平县、丹寨县、麻江县、施秉县)








日喀则市(定日县、江孜县、萨嘎县、桑珠孜区、谢通门县、定结县、仲巴县、康马县、萨迦县、吉隆县、拉孜县、岗巴县、仁布县、昂仁县、亚东县、聂拉木县、白朗县、南木林县)








大兴安岭地区(漠河市、塔河县、呼玛县)








衡水市(深州市、枣强县、故城县、安平县、阜城县、桃城区、武邑县、冀州区、武强县、饶阳县、景县)








山南市(扎囊县、乃东区、桑日县、曲松县、加查县、洛扎县、琼结县、隆子县、贡嘎县、错那市、措美县、浪卡子县)








威海市(乳山市、环翠区、荣成市、文登区)








通辽市(科尔沁左翼后旗、扎鲁特旗、奈曼旗、科尔沁左翼中旗、科尔沁区、霍林郭勒市、开鲁县、库伦旗)








大庆市(林甸县、杜尔伯特蒙古族自治县、红岗区、肇州县、大同区、让胡路区、萨尔图区、龙凤区、肇源县)








阜阳市(颍东区、界首市、颍州区、颍泉区、颍上县、阜南县、临泉县、太和县)








镇江市(丹徒区、扬中市、润州区、丹阳市、京口区、句容市)

自“科创板八条”发布后,科创板并购重组热情高涨。

近日,科创板上市公司呈和科技发布提示性公告称,公司及关联方正在筹划以现金方式收购映日科技合计不低于51%股权,交易完成后,公司将实现对映日科技的控股。此次交易预计将构成重大资产重组。

数据显示,“科创板八条”发布以来,截至目前,科创板上市公司共推出并购交易96单,已披露的交易总价值近424亿元。其中,今年以来,科创板新增披露33单并购交易,其中约半数为现金重大重组及发行股份或可转债购买资产。

除交易量大幅增加外,在“科创板八条”“并购六条”的支持下,科创板并购重组交易也呈现出更多适应新质生产力发展的特点,已出现多个“发股+定向可转债+现金”组合支付、差异化对价等创新性案例,以及收购境外上市公司、收购未盈利资产、收购拟上市企业等交易。

并购重组持续活跃

去年以来,监管机构推出一系列并购重组新政,通过提升制度包容性,有效激发市场活力、提振市场信心。

“科创板上市公司聚焦产业整合开展并购重组,交易活跃度较往年大幅提升且势头不减,标志性案例频现,在发挥资本市场在并购重组中的主渠道作用、更好服务上市公司转型升级和培育壮大新质生产力方面取得重要进展。”有市场机构人士表示,特别是收购具有“硬科技”属性但尚未盈利的优质企业案例接二连三出现,且并购推进速度显著加快。

据统计,“科创板八条”发布以来,科创板公司已披露26单拟收购未盈利企业的交易。例如,晶丰明源以“发股+定向可转债+现金”组合支付,拟收购易冲科技100%股权。易冲科技是专业从事无线充电芯片、通用充电芯片、汽车电源管理芯片等研发设计和销售的高新技术企业,产品最终应用于三星、荣耀等品牌手机以及奔驰、大众、丰田、比亚迪等品牌汽车产品中,在业务上与晶丰明源具有较高的协同性,此次收购将有助于进一步加强晶丰明源车规级产品的布局和突破,完善其在手机及生态终端的产品布局。

“对科创板上市公司而言,收购未盈利企业在某种程度上不失为一种‘刚需’。此类企业多处于初创期或成长期,具备较强的吸引力和增长潜力,在客户资源、研发资源或供应链资源上与收购方往往具有一定的协同效应,纳入后能带来更大的发展空间和获利能力。”业内人士表示。

值得注意的是,在实际操作中,并购交易具备复杂多变的特征,不确定性因素颇多。对此,“科创板八条”及“并购六条”展现出持续提高审核效率、优化审核流程的导向。

从重组进度来看,目前已有30余单完成交易,其中6单用时均在1个月左右。以圣湘生物收购中山海济100%股权为例,从首次披露股权收购公告到中山海济完成工商变更登记手续,仅仅1个多月时间。此外,在此次收购中,特别设置了“向上调整”的估值调整安排,即在中山海济基础估值8.075亿元的基础上,若2025年、2026年达成既定的业绩目标,圣湘生物相应按比例调增其估值,且估值调增上限不超过3.925亿元。

受到成熟头部企业青睐

自“科创板八条”发布以来,在持续推进的并购重组案例中,控制权交易逐步升温。由于新质生产力属性明显,科创板上市公司不仅是收购方、竞买方,也成为不少成熟头部企业的目标方。

截至目前,科创板已有8家上市公司引入新的控股股东,多数新晋控股股东为产业龙头,计划利用相关产业资源赋能科创板公司。例如,半导体设备企业芯源微拟引入国内半导体设备龙头北方华创作为控股股东,支持半导体设备企业协同整合。交易完成后,芯源微产品将有效填补北方华创在涂胶显影、高端化学清洗、先进封装等领域的产品空白,同时助力芯源微实现市场、供应链、技术等方面的跃升,增强综合实力。

4月15日,孚能科技发布控制权拟发生变更事项的进展公告,香港孚能、赣州孚创和恒健工控新能源协议转让的过户登记手续已办理完毕。孚能科技是国内三元动力电池主要生产企业之一,作为科创板“动力电池第一股”,上市4年来累计亏损超40亿元。此次收购完成后,广州工控将成为新的控股股东,广州市政府将成为新的实际控制人。

有投行人士表示,控制权的收购交易已成为科创板公司卡位战略赛道、拓宽技术广度的重要方式。

科创板上市公司通过积极推进并购重组,旨在推动产业链上下游纵向整合、同行业横向强强联合。从实际情况来看,有参与者建议,监管引导推出更多示范案例打消市场顾虑,统筹协调优化跨境并购相关制度,更大力度支持并购基金参与上市公司并购重组。

展望后市,华泰联合执行委员会委员、公司并购业务负责人劳志明认为,除了要关注个案落地情况,还需注意并购交易与上市公司二级市场的表现,有无形成相互促进的正循环,以及并购退出在一级市场的接受度如何,能否形成“科技—金融—产业”的良性发展。

新闻结尾 教室塞着今天不许拿出来,体验无与伦比的成人娱乐,尽情享受每一刻!的相关文章
人对时间的感知是怎样的?我们是否可以从心理层面最大化地「延长下班」或者从工作中找到快乐「缩短上班」?
如何看待《崩坏:星穹铁道》砂金角色厨,豪掷万金举办线下同人活动纪念角色砂金入池一周年?
美国小企业主:政府彻底摧毁了我
谷歌报告中称AI或永久毁灭人类
理想l系列累计交付超100万辆
国台办:已收到超三千封举报“台独”打手帮凶邮件
  • 友情链接:
  • *ST普利:收到公司股票终止上市决定 安踏拟 2.9 亿美元收购狼爪 q版机器人也来跑马拉松 如果建文帝不自焚、不逃走,就在皇宫里坐着,朱棣敢杀他吗?

    查看更多评价 ∨