Automotive Industry Listed Companies Comprehensive Evaluation Of The Investment Value

As one of the pillar industries in national economy, although have already had several dozens years development history, the automobile industry modernized reform advancement just started soon. And with the foreign capital lands the Chinese market, our country automobile industry is facing the very big opportunity and the challenge, certainly also has many opportunities for investment. Therefore, this . article selects Listed Company of automobile industry as appraisal object, and establishes target appraisal system according to the characteristic of automobile industry, and selects blue chip to make the stock intrinsic value appraisal. But, the China stock market is an emerging fast development market, which is also not mature and has formed an extremely complex non-linear dynamic system under the many kinds of factors interaction , such as the international environment, the national policy, the economical situation, the profession prospects for development and the populace psychology and so on. Hence, if the stock market wants to move towards maturely, it should guide the investor to research stock intrinsic value, namely request the investor to set up the rational investment idea. The investor should pay more attention to the management behavior and the achievement performance of the listed company, and obtain the stock intrinsic value through the basic analysis, and take this as the main investment basis, which can cause the stock market truly to march into the value investment time.In view of the characteristic of our country stock market and the automobile industry, this article will mainly solve how to accurately and effectively appraise the automobile industry stock value through the basic analysis. In this article mainly include three major parts; the first part introduced the synthesis appraisal and the value appraisal theory, as well as now development conditions and tendency in domestic and foreign. In the second part, we summarize the automobile industry development condition, and establish the target system according to the characteristic of automobile industry, such as the profit ability, the growth, the profit quality and the property quality, the capital stock expansion potential, ability to pay off a debt, property operation efficiency and so on. At last we distill the target system through the factor analysis. The third part is the empirical analysis part of value investment. First we make the financial norm achievements synthesis appraisal the listed company of the automobile industry, and construct the appraisal model. Next, select the relative blue chip share of automobile industry, and establish the model to appraise the stock intrinsic value. Through contrast "the intrinsic value" (stock price forecast value divide actual value), we obtain the stock with relative investment value. Finally, we examine the result in the actual combat. Namely, according to the stock price and the market index data, we contrast with the market index of the stock with relative high intrinsic value to judge the validity of the model we established.