After The Preferred Stock Era, Hua Xia Bank's Common Stock Value Evaluation Research

With the rapid development of China's economy and the rapid growth of China's capital market,capital market operation increases frequently.The investment behavior of listed companies should make investment decisions on the basis of value assessment.How to make a high quality assessment of the investment value of listed companies is the key to the success of investment.As the country's fifth listed bank listed in 2003,the operating performance of Huaxia Bank's has been steady growth,and cash flow is sufficient and stable,the scale of assets has been expanding.In this paper,according to the collection and collation of Huaxia Bank's various data,the capital asset pricing model is used to estimate the discount rate of future cash flow.Based on the analysis of Huaxia Bank,this paper evaluates the impact of Huaxia Bank's successful issuance of preferred stock on the performance.It evaluates the value of Huaxia Bank by using the discount model of dividend,the price-earnings ratio and the book value ratio.The preferred stock is issued by Huaxia Bank to optimize the asset structure and enhance the operating performance.At the end of this paper,we use swot to analyze the market competition environment of Huaxia Bank,and finally draw the conclusion that"Huaxia Bank has investment value" on the basis of valuation research.Any kind of valuation method has its own advantages and disadvantages and applicability.The change in the value of the stock is the result of the combined effect of the market and the intrinsic value.When investors make investment decisions,they should be combined with market and business factors to make investment choices.