The future of Internet leading mergers and Acquisitions: innovation and enabling entities. On January 18, the national development and Reform Commission and other nine departments issued several opinions on promoting the standardized, healthy and sustainable development of platform economy. The policy encouragement direction will become the focus of M & A of the Internet in the future.
Overview of Internet leading mergers and Acquisitions: it will drop to the freezing point in 2021. In 2018, the Internet leader received 601 M & A cases, and the disclosed investment scale reached 288.8 billion yuan; In 2019, it will be reduced to 270 and 184.1 billion yuan respectively; Since then, it has further decreased to 178 in 2021 and RMB 33 billion.
Industry change: application software and biotechnology replace film entertainment. From 2017 to 2021, the focus of mergers and acquisitions in the leading primary market of the Internet is in the Internet software and information technology consulting industry. From the perspective of annual change trend, the number of M & A cases in the Internet software and information technology consulting industry has decreased year by year since 2019, and application software and biotechnology have replaced the third ranked film and entertainment.
Company perspective: Tencent takes the lead, and Ali drops to the freezing point in 2021. Tencent has taken the lead in the scale and quantity of M & A in the past five years. The scale of single M & A in Alibaba is high, but it drops sharply from 2020 to 2021. The trend of change is that Tencent, Ali, Jingdong, Baidu and the US group have all reduced the scale and number of M & A in 2017-2021 years, and the fast competition, the spate of competition and the rise of NetEase have led to the competition of the leading companies or Kwai Shuai.
New trends: expansion of consumption scene, upstream of industrial chain and core technology. Tencent, Jingdong and Kwai Chung expand consumer spending more: new investment focuses on retail and software, including soft drinks, Internet retailing, etc. Ali, meituan and Xiaomi are more inclined to the upstream of the industrial chain and core technological innovation: semiconductors are all arranged. In addition, Ali prefers logistics, and meituan focuses on Shenzhen Agricultural Products Group Co.Ltd(000061) and food processing; Xiaomi focuses on medical and health care equipment.
Risk warning: policy promotion is not as expected; Historical experience does not represent the future.
