Company Value Assessment Through Annual Reports Messages Of Listed Companies

A large number of listed companies arise with the rapid development of China’seconomy. At the same time China’s stock market position become increasinglyimportant in the socio-economic development. The stock market has become a majorcorporate investment and financing markets and the number of shareholders growlarge in China. Investors mainly focuse on the good development listed companies.But because China’s stock market is still an emerging market, most investors lack theproper and efficient value investment philosophy and technology, and speculativeconsciousness dominant position.This paper aims to research and analyze annual report which is average investormost easily accessible and understand. Research not only the traditional financialindicators, but also a more in-depth information on relevant text interpretation.Theoretical studies have examined the four methods of business valuation, mainly forthe use, advantages and disadvantages of analysis. Trying to combine adjustmentvariable, based on the most commonly used discounted cash flow model of therelevant factors were adjusted model derivation. In the annual report of the text wereintensive combing, will be conducive to investment decisions related factors wereanalyzed explained. By model derivation proposed investment advice, promoterational investment to investors, especially the interests of small investors areprotected. In the long term, using the model derived will benefit the healthydevelopment of China’s enterprise value assessment and the stock market.In this paper, research methods include theoretical analysis, model derivation andcase analysis. Theoretical analysis part research basic valuation theory, the systematicstudy of each annual index factor. Model to derive the value of the investment portionof the discounted value of the theoretical analysis of the discounted cash flow modelafter doing additions and amendments, on a discounted cash flow model wasovervalued or undervalued forecasts, case studies through a more complete case-basedlisted companies value Analysis.