Changjiang Electronics Technology M&A Star Branch Jinpeng Case Analysis

China's integrated circuit market ranks first in the world,with strong demand,but the industry self-sufficiency rate is low,which leads to a large part of the demand depends on imports.Therefore,China's integrated circuit industry needs rapid development,expand production scale,and optimize products to achieve self-sufficiency.Many semiconductor companies acquire internationally advanced technologies through mergers and acquisitions,realize resource integration and open up international markets.Mergers and acquisitions have become an effective means of rapid development of the integrated circuit industry.The state attaches great importance to the development of integrated circuits,established the National Integrated Circuit Industry Investment Fund,and carried out a wide range of investment activities to provide financial support for semiconductor companies' M&A plans.Changdian Technology's acquisition of Xingke Jinpeng is the first single investment in the semiconductor industry for cross-border M&A since the establishment of the IC industry fund.In the process,it can clearly reflect the country's emphasis on and support for the integrated circuit industry.Encourage the development of the integrated circuit industry through cross-border mergers and acquisitions.This paper introduces the research background of this case,describes the basic situation of the merger and acquisition companies,reviews the process of mergers and acquisitions,and analyzes the motivation of mergers and acquisitions.The financing methods of enterprises include the source of funds.Wait.The event research method was used to analyze the short-term market reaction of the M&A technology,and the comparative analysis method was used to analyze the changes in the financial status of Changjiang Electronics before and after the merger.The problems in M&A were also pointed out.Based on the results of the analysis,it draws some inspiration and makes some suggestions for the cross-border M&A activities of listed companies in the semiconductor industry.