The Research For YL Ltd Assets Appraisal Case Based On The Improved Income Approach

To create"The Internet Townis a country in order to implement the strategy of"Internet +" taken important measures, is also the important breakthrough of the construction of smart city, after the project implementation can greatly enhance the level of public information infrastructure, between the government and the people's livelihood comprehensive Internet services, e-commerce and O2O common development, to ensure the safety of the information network, people's cultural quality improved significantly at the same time, the advantage of the Internet platform class enterprise is able to spread widely. Internet town is refers to the town, schools and residential areas, the development zone has the characteristics of physical space at the same time can excavate the characteristics of the new basic carrier of urbanization and typical application of smart cities. These specific areas to strengthen the construction of Internet information,widely used in "+" Internet solutions, integration of the Internet makes outstanding achievements,so as to achieve boundary to reduce costs, develop new areas of the economy, eventually forming a highly informationization characteristic town in the Internet, these areas are automatic aggregation, and formed a town in the Internet on the cyberspace.Country at the present stage are stepping up efforts to support the development of the Internet industry,the construction of Internet platform class enterprise is a country in order to implement the policy of "Internet +" and important measures taken by the current assessment of priority according to the characteristics of different developmental stages of the Internet companies to assess the value of Internet companies, so that to improve the level of the enterprise value assessment of the Internet companies, to the enterprise operators and investors can take appropriate investment and avoid risk is of great significance, at the same time can promote the development of Internet enterprises better.Town in the Internet is a network as the carrier of the new enterprise, its main feature is the user scale expanding and bring high speed raised a long ability and huge development potential. In today's Internet enterprises continue to grow stronger,the expansion of internal it has not reached the requirement of high speed development,external acquisition of marketing certainly will increasingly, the Internet company's enterprise value evaluation problem arises at the historic moment. Compared to traditional Internet enterprise is the biggest different of its particularity, the Internet enterprise is the main performance of its physical assets,less unique business model and high risk. If using traditional when you evaluate Internet enterprise value evaluation method has certain limitation, practice most asset base method is used to assess physical assets more enterprises, and asset base method is not applicable to assess with Internet companies has the qualities of light assets; Practice in enterprise value evaluation,marketing use requirements on the market have comparable instance, belongs to the emerging Internet town enterprise, its risk and business model are compared with the traditional company has great difference, so the above two methods are not suitable for to evaluate Internet companies.Internet companies are generally light asset class, the traditional appraisal methods have not adaptability of application of the traditional income approach is a difficulty for the type of the company's future earnings forecasts, also is intermediary company,namely to assess the organization's risk of thunder. Marketing applications mainly comes from market data, belong to the direct valuation method, compared with the cost method and income method is more easily accepted by the market, and regulators have agreed that the use of this method step by step, and now more open and transparent market data,collect more easily, for the agency is also a feasible evaluation method, therefore,through a large number of literature research, this paper introduced the improvement of income method to evaluate the value of Internet town enterprise. Can be used in the process of improved correction, the correction projections for comparable transaction case of income, in turn,to the enterprise future earnings forecast, and when selecting a comparable transaction cases used the clustering analysis method, finally choose three comparable cases and proper correction.