Small And Medium-sized Securities Investment Value Analysis,

Since the reform and open policy,our country economy development with a high speed, and establish a corresponding financial system gradually. Since the early 1990’s the establishment of the Shanghai Stock Exchange(SSE) and Shenzhen Stock Exchange(SZSE), China’s capital markets have made substantial progress. Benefit by the IPO restart from 2013. As of April 1, 2015, China’s listed companies in SSE and SZSE amounted to 2683, the market capitalisation is more than one trillion Yuan.After the success of the listed company shares traded in the secondary market, the investors pay close attention to is the stock value and yield. In this paper, the first chapter discusses the existing literature analysis of investment value. The second chapter on China’s small and medium-sized brokerages, select some brokerages for compare. Exhibit the background of small and medium-sized brokerages development in China. The third chapter analysis Changjiang Securities operating condition, first using the potter five model and SWOT analysis method to analyze Changjiang Securities of industry competition and competitive conditions. Then analysis commission rate, market risk and regulatory risk for company risk situation. Finally, in order to understand the company’s solvency, growth and ability to operate we make the company’s financial analysis. The fourth chapter, using the relative valuation method and absolute valuation method for the estimation value to estimate Changjiang Securities, in order to get a accurate value. Then conclusion is given and investment advice is put forward.After estimate we get the value of Changjiang Securities is from 14.75 to 19.41 yuan, but its price is about 14 recently. As this we advise investor to buy in.