Excuse me, is there an analysis of the merger and acquisition cases of small and medium-sized enterprises in recent years? It is urgently needed for writing papers.

In the first M&A case, Star Medical acquired an unlisted company. The acquirer was a medical agent dealer, and the target of the M&A was a research, development, production and seller of medical devices with its own patented technology. The transaction is a 1% equity acquisition, with a particularly high cash payment ratio of 359 million, of which only 9% has equity consideration.

in the second case, Tianshan Bio, a listed company, acquired elephant shares, which are relatively large in scale, mainly for outdoor advertising, but the advertising format is more traditional. The amount of the whole transaction is 2.372 billion, of which more than 5 million is paid in cash and the remaining 1.8 billion is paid in shares. At the same time, there are 599 million matching funds raised.

In the third case, Tianze Company acquired Youshu. The target company mainly engaged in cross-border e-commerce import and export, and had rich experience in logistics and supply chain, especially import and export. The profit is slightly larger than that of the acquirer. The whole target transaction volume is 3.4 billion, and the performance commitment is very high, which adds up to 96 million. The whole payment was 42 million in cash, and nearly 3 billion was paid in shares.