version: "1.0.0" name: china-buyer-list description: Build a list of potential strategic and financial acquirers for A-share sell-side M&A mandates. Adapted from the original buyer-list skill for Chinese market acquirer universe. Triggers on "A股买方名单", "潜在收购方", "buyer list China", "strategic buyers China", "who would buy this A-share company", or "build buyer universe".

china-buyer-list

Purpose

Build A股潜在收购方名单, identifying both strategic and financial buyers for a sell-side M&A mandate.

Data Sources

Tier 0 — 万得 Wind（最全面付费数据）

• 覆盖：A股/港美股/基金/指数/债券/宏观/研报/分析（44个工具）
• MCP 服务：wind-mcp（需 WIND_API_KEY 密钥，以 ak_ 开头）
• 优势：全市场覆盖面最广、数据最全面、包含研报和量化分析
• 密钥申请：https://aifinmarket.wind.com.cn/#/home

Tier 1 — 同花顺 iFind（付费精确数据）/ AkShare MCP（Tier-2 免费备选）

get_industry_stocks(industry="...")   → Industry peer list
get_quote(ticker)                    → Valuation for comparable analysis
get_financials(ticker, "income")     → Revenue for size comparison

Secondary Sources

• 巨潮公告 — M&A history
• Wind / Choice — transaction database
• 券商研报 — sector M&A analysis
• 企查查 / 天眼查 — corporate structure, related entities

Workflow

Step 1: Define Target Profile

Target characteristics:

• Industry / sector
• Revenue size
• Geography
• Growth profile
• Ownership structure (listed / unlisted, controlling shareholder)

Step 2: Build Strategic Buyer Universe

Strategic buyer categories:

For each potential strategic buyer:

• Strategic rationale (why would they buy?)
• Fit assessment (complementarity, synergies)
• Financial capacity (cash, debt capacity)
• Historical M&A activity
• Regulatory approval likelihood

Step 3: Build Financial Sponsor Universe

Financial buyer categories:

Screening criteria:

• Fund size vs deal size
• Sector focus alignment
• Track record in China
• Currency availability (RMB vs USD)
• Hold period preference
• Regulatory approval track record

Step 4: Assess Buyer Fit

Fit scoring matrix:

Scoring criteria:

• Strategic fit: How natural is the combination?
• Financial capacity: Can they afford it?
• Regulatory risk: Likelihood of approval?
• Historical activity: Do they acquire actively?

Step 5: Prioritize Outreach

Priority tiers:

Outreach considerations:

• Relationship warmth (existing connections)
• Cultural/language compatibility
• Deal team familiarity with buyer
• Expected timeline

Step 6: Document the List

Standard buyer list format:

【目标公司】潜在收购方名单
 
一、战略买方
 
1. [Buyer Name]
   属性：[国企/民企/外企]
   逻辑：[Why they would buy]
   历史并购：[Relevant deals]
   风险：[Regulatory / Integration risks]
   优先级：[Tier 1/2/3]
 
2. ...
 
二、财务买方
 
1. [Fund Name]
   类型：[PE/产业基金/并购基金]
   规模：[AUM]
   重点行业：[Sector focus]
   投资偏好：[Deet size, hold period]
   优先级：[Tier 1/2/3]
 
2. ...

China-Specific Considerations

Strategic Buyer Landscape

Key strategic buyer types in China:

Financial Sponsor Landscape

Regulatory Considerations

• 经营者集中申报: SAMR review for deals above thresholds
• 外资安全审查: Foreign investment review (if applicable)
• 国有股权转让: 国有资产评估, 产权交易所挂牌
• 反垄断: Market share thresholds
• 行业准入: Sector-specific approvals

Common Transaction Patterns

Quality Checks

Before delivering:

• [ ] Buyer universe comprehensive (both strategic and financial)
• [ ] Each buyer assessed for fit
• [ ] Regulatory risks considered
• [ ] Prioritization logical
• [ ] Contact approach appropriate

Data Source Mode Switch: Set env var IFIND_DATA_SOURCE_MODE to control data source preference.

- ifind-only (strict): Use iFind only, error if unavailable

- ifind-fallback (default): iFind preferred, fallback to AkShare

- akshare-only: Skip iFind, use AkShare only

- wind-only: Wind only, error if unavailable

- wind-fallback: Wind first, fallback to iFind → AkShare