Enterprise Value Evaluation Of AEHG

In recent years,the concept of "healthy China" has been mentioned many times,and relevant supporting policies have been introduced,and the bio-medical sector has been warmly welcomed by more and more people.Based on the rapid development of the biomedical industry,investors have also paid their attention in the hope of grasping investment opportunities.As investors,how to accurately understand the real value of the enterprise is particularly important,which makes it necessary to find the methods of enterprise value evaluation,rationally grasp the opportunity,and make investment decisions.Due to biological medical enterprises has certain particularity,such as high research input,high risk,high income and rapid development,investors for this type of enterprise value assessment,need to find accurate analysis method.Therefore,it is an urgent problem to explore how to evaluate the intrinsic value of biomedical enterprises.Aier EYE Hospital Group(AEHG)is a typical case of biomedical enterprise.This paper uses qualitative analysis and quantitative analysis to evaluate the enterprise value of AEHG.The qualitative analysis mainly combines the macro environment analysis,the bio medical industry analysis and the competitive environment analysis,which could understand the current situation of AEHG,and lay the foundation for later discussion.Quantitative analysis uses the theory of economic value added(EVA)to calculate the historical value of AEHG's 2009-2017 financial data,and predict the future value combining with historical data,finally calculate the intrinsic value of the enterprise using two phase model discounting and get the investment strategy by contrast with market value.It is worth about 126 billion yuan at the end of 2017,which is far less than the market value 400 billion at that time.As an investor,from the perspective of financial data,it is not recommended to buy.And investor need to be very patient to wait for opportunities when investing in such white horse companies.All in all,it is a company worth paying attention to in a long time.