This paper aims to provide a comprehensive analysis of the financial synergies inherent in the process of mergers and acquisitions of heavy industry enterprises in Liaoning Province. In addition, it seeks to evaluate the impact of Dalian Heavy Industry's acquisition of Jiangsu Lingang Company on the long-term development and profitability of enterprises prior to and following the merger and acquisition. Due to the deepening of the market economy and the acceleration of industrial structure adjustment, Liaoning Province, which constitutes an important part of the old industrial base in Northeast China, has become increasingly involved in the mergers and acquisitions and restructuring activities of its heavy industrial enterprises. It aims at optimizing the allocation of enterprise resources, assisting enterprises in expanding the market and contributing to the revitalization of Northeast China. This paper will present a theoretical analysis, a current situation analysis, a case study and improvement suggestions. It will also analysis the operating results of Dalian Heavy Industry before and after the merger, and study whether financial synergies have been achieved before and after the merger.

Yuhan Ji. Research on the Financial Synergy Effect of Mergers and Acquisitions of Heavy Industry Enterprises in Liaoning Province—Take Dalian Heavy Industry's Acquisition of Jiangsu Lingang Company as an Example. Academic Journal of Business & Management (2024) Vol. 6, Issue 9: 228-233. https://doi.org/10.25236/AJBM.2024.060931.

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