As global competition in the semiconductor sector intensifies, China's IC design industry is witnessing a surge in mergers and acquisitions (M&A). In 2024, amidst sluggish global demand, a downturn in the industry cycle, and strong government policy support, Chinese IC design firms are leveraging M&A to accelerate technological breakthroughs, optimize resource allocation, and expand market presence. These efforts aim to enhance semiconductor self-sufficiency and reduce dependence on external supply chains. This report provides a comprehensive analysis of the key drivers behind this wave of M&A activity, examines notable deals and their strategic implications, and assesses the broader impact on China's semiconductor industry. It offers industry stakeholders an in-depth look at the key trends shaping the future of China's IC design sector.