The Party in the 1990s merger boom into China, the real estate industry in the “merger and acquisition of the road” can be said to be in full swing With the change of social policies, “business transformation”, that is, seeking diversified development, has become one of the important motivations for M&A in the context of increasingly difficult and expensive “land acquisition” And Sunac China by virtue of the amazing speed and scale of mergers and acquisitions, in the real estate industry of mergers and acquisitions boom to stand out, people’s attention. Therefore, this paper classifies the series of M&A cases of Sunac China according to the M&A motivation, mainly discusses the two M&A cases based on the “business transformation” M&A motivation, analyzes the M&A performance respectively, summarizes the problems that enterprises tend to ignore when making cross-industry investment, and puts forward the corresponding investment countermeasures, which has certain reference significance for enterprises’ cross-industry investment.