The Research On Financial Evaluation Improvement Of Huafengda Co,Ltd.Network's Equity Investment Project

In recent years,with the national triple-play policy introduced,cable television network operators are faced with the unprecedented impact of telecommunications networks.To be invincible,the provincial cable network enterprises must strengthen the contact and cooperation to form cross-regional and large-scale cable network group companies and share the risk and share resources.Therefore,equity investment plays an important role in survival and development of radio and television network enterprises.The equity investment depends on not only the availability of funds but also the accuracy of the financial evaluation.Radio and television network equity investment characters with huge investment,long investment period,high risk and great economic benefits for the enterprise and so on.The important influencing factors of the investment benefit of radio and television network including the number of users,the price,the quality of the program and the cost of network maintenance.In this paper,the investment process and post-investment performance of Huafengda Xinjiang Radio And TV Network Equity Investment Project are analyzed,and the internal rate of return,net present value method and sensitivity analysis are used as the methods of financial evaluation.There are the following questions in Xinjiang project:First,poor understanding of policy factors;Second,insufficient assessment of the impact of alternatives;Third,inaccurate estimation of consumer demand and so on.The main reasons of the above problems are insufficient market research and imperfect investment management mechanism.Combined with the characteristics of radio and television network equity investment,the following suggestions are raised:First,do a good job in investigation work;Second,establish a professional investment feasibility analysis team;Third,improve the investment feasibility of the decision-making system;Fourth,establish the post-evaluation mechanism and strengthen the investment responsibility system.Based on the basic theory of financial feasibility assessment,this paper uses Xinjiang network investment as an example and points out its problems in the process of financial evaluation,and puts forward the corresponding improvement measures.Hence,this paper has great theoretical and practical significance in improving the financial evaluation of Huafengda Company.