Valuation Analysis For The Case Of Shanghai Jahwa Merged By Pingan

With the development of China’s socialist market economic system reform,reform of state-owned enterprises in China to further deepen the capital market is alsogradually improved, and now investors are more concerned about the value of thebusiness. Maximize shareholder wealth or enterprise and maximize the value of thefundamental is becoming the starting point of the enterprise management and theultimate goal. So, the how to scientifically assess the value for mergers andacquisitions and joint ventures are the greatest concern of business investors,managers, owners and creditors. In China’s active M&a market, with the capitalmarket trend, how reasonably and accurately pricing, becomes a key problem ofactivity. Modern value theory is based on future income discounted as the foundation,the theory that the value of the business should be equal to the present value of thefuture income. In this paper the discounted cash flow method on the basis of theanalysis, established the enterprise value assessment of the overall framework, andsummarizes on the target enterprise valuation procedure valuation practice, expect tobe able to help.This paper takes the case study as the main method, with the listed company ofShanghai Jahwa as an example, study how to estimate the cosmetics company’sintrinsic value. This paper first expounded the research background, purpose and significance, research contents, methods and ideas; and review of the literature, findthe starting point of research and theoretical basis. This paper takes Shanghai Jahwaas an example to explore how to estimate Jahwa cosmetics the intrinsic investmentvalue of listed companies. The Shanghai home of external environment are analyzed;and then the Shanghai Jahwa interior line description and analysis, this article throughthe use of discounted cash flow method to the calculation of Shanghai Jahwa intrinsicvalue, then the above analysis based on conclusion, and make investment advice.This research will promote the domestic cosmetics stock valuation research, andeffectively improve the investor to the cosmetic stock investment value cognition anddiscrimination. Therefore this research has important practical value.