The Investment Value Analysis Of Enlight Media(Beijing)Co., Ltd.

In recent years, as national revenue has grown substantially,the domestic need and consumption of culture makes cultural and media industry pillar industry of the economy. With Internet plus expands rapidly nationwide, the culture industry is flourishing. As a typical domestic media enterprise, Enlight Media took the advantage of the capital market insisting on content quality,and had a rapid growth since 2011. The line of Enlight Media business covers many aspects, such as movie business, TV series etc.Studying the investment value analysis of Enlight Media will provide a reference value for subsequent similar cultural and media enterprise's investment value analysis.This paper reviewed the absolute valuation method-free cash flow discount method and relative valuation method-price-to-book ratio, price-to-eps ratio, price-to-sales ratio, and method based on Metcalfe's Law.Analysis of the theory of the valuation of the applicability of the cultural and media companies, selected from the free cash flow discount method, p/e ratio, p/s ratio and Metcalfe's Law to estimate the value of Enlight Media.On the analysis of the industry development, the specific business situation and financial statements, this paper uses the above four valuation methods to estimate Enlight Media. Finally we think its value should be between 23.97 yuan to 24.93 yuan per share. We recommend that investors wait and see while paying close attention to its fundamental changes at any time. At the same time, the investors need to guard against the risk of intensifying competition and content checking.