Research On Value Evaluation Of New Energy Automobile Enterprises

With the continuous improvement of the capital market and the continuous improvement of people's living standard,people are more and more enthusiastic about the tendency of investing idle funds in the capital market.Under the premise of people's increasing awareness of ecological environment protection,the new energy vehicle industry has entered people's vision,and won people's favor because of the clean performance source that is conducive to environmental protection and the increasingly affordable price.Therefore,this paper chooses foton company as the asset to be evaluated,and evaluates its enterprise value on the base date of evaluation.The enterprise value assessment of foton company can bring the following benefits:1.Few people have studied the operation mode of new energy automobile enterprises and the corresponding evaluation method of enterprise value.On the premise of objectively analyzing the advantages and disadvantages of the evaluation method and its applicability,this paper chose the valuation method combining cash flow method and real option method to evaluate the enterprise value of the selected foton company.In theory,it enriches the application of evaluation methods in new energy automobile enterprises,and provides some reference opinions for later people.2.For managers.Now stock is a major source of executives' income,which means that the interests of shareholders and managers overlap in this respect.Stock futures account for an increasing proportion of executives' income,and the interests of managers and shareholders are closely related.In this case,company executives also pay more attention to enterprise value maximization.It can be seen that through the study of enterprise value assessment,managers can constantly optimize their management methods to maximize enterprise value.3.For investors.Through the enterprise value assessment to find out whether the current company's stock value is undervalued,to find investment opportunities,and then make the right investment decisions,to obtain the expected excess investment return.Ideas of this article: Under the background of global economic integration,this paper carefully analyzes the current market economy situation of China's automobile market and analyzes the position of foton companies in the industry with the method of PEST.Then,this paper analyzes the advantages and disadvantages of some commonly used evaluation methods: cash flow method,cost method,market method and real option method in theory and application,and combined with the new energy automobile enterprise's own development model,and the characteristics of the business,focused on the evaluation methods for whether foton companies have actually operability,think that investors with investment of decision-making basis for the purpose.On the basis of fully drawing on the discussion of various evaluation methods of predecessors,it is decided to adopt the enterprise value evaluation method combining cash flow method and real option method to evaluate the enterprise value of foton effectively.This paper calculates that the stock price of foton is 5.96 yuan.This is high than the average closing price of foton's shares for all of 2017 year.The reason is that the new energy vehicle industry has a large investment in the early stage of research and development in a long growth period,which to a certain extent indicates that foton company has a growth potential in the future,and the stock price also has some room for improvement.