| The capital market position in China's national economy in the increasing value of investment ideas and methods have also been gradually be taken seriously.Model EBO use of the remaining proceeds of the rights and interests of the company and the book value of the expected present value of the remaining proceeds to the intrinsic value of that stock, the rights and interests of established companies and the accounting value of the relationship between variables. The so-called residual income refers to the company's net profit and shareholders sought compensation difference.EBO model has great advantages of the application, its principles and advantages of this paper was discussed, and analyzed the situation of China's real estate industry, believes that the future nearly 10 remains China's real estate industry golden age of development, the advantage of the real estate listed companies will be a very good development.This combination of DuPont financial analysis methods to model appropriate EBO deformation from Vanke market in the calendar year from the annual report required by financial indicators and data, the use of statistical and mathematical methods on the future of Vanke forecast that the 2007 opening at the end of the third quarter, and the intrinsic value of Vanke's stock.In this paper, using the same method has been calculated Vanke 2004,2005,2006 beginning of the intrinsic value of the stock, verified that the model guide long-term investments with higher value conclusions.EBO model of this paper have not been completely revised, and the rate of return on capital requirements remaining period of sustained yield of net assets also identified the need for further study.The innovation of this paper is to prove that China's real estate prices of long-term stock market listed company to move closer EBO valuation results with the trend of judgment Vanke' s shares in 2007 before the market was undervalued, 2007 in the latter part of a bubble, and the model application and data analysis was also improving and innovation... |
