Research On The Appraisal Of Hualan Bio-Enterprise Value

China's aging tide is gradually coming,and the sub-health status of the people is becoming more and more common.People begin to regard health as the most important problem in life.In recent years,China's policy has begun to tilt towards the biomedical industry.More policy support has brought the rise of the biomedical industry,and also attracted more investors'attention.It requires a lot of capital investment and may face huge risks.This is a distinctive feature of biopharmaceutical companies that are different from other companies.Therefore,a better understanding of the operation status and value creation ability of these enterprises is helpful to optimize the allocation of resources in the capital market.The case enterprise selected in this paper is Hualan Biological,a biomedical enterprise.Firstly,this paper refers to the research literature of a large number of EVA evaluation models at home and abroad in recent years.Through literature review,it summarizes the research conclusions of many scholars using EVA model to evaluate enterprise value,and proves that EVA model evaluates the enterprise value of special industry,which surpasses the tradition.The feasibility and superiority of the evaluation method,and further explain the reasons and ideas for the revision of a large number of accounting indicators in the EVA model.Secondly,this paper analyzes the macro environment and its own operation status of Hualan Biological,summarizes the particularity of biomedical enterprises,and compares the advantages and disadvantages of EVA model with traditional evaluation methods and applicability analysis.A modified EVA model was selected for case studies.Based on the development trend of Hualan biology,a two-stage growth model was selected as the valuation model.Finally,based on the characteristics of the biomedical industry,this paper will modify a large number of accounting subjects to reduce the impact of profit distortion,making the EVA model closer to the idea of discounted income.The calculation results are obtained by using the model by calculating the historical and predicted EVA values.This paper introduces the market coefficient and market evaluation in an innovative way,further refines the evaluation results of the EVA model,and finally obtains the enterprise value of Hualan Biological.This paper evaluates the biomedical enterprise by selecting the EVA model,and proves that the revised EVA model can retain the idea of discounted income method,and better reflect the value creation ability of the enterprise,which is more in line with the characteristics of biomedical enterprises.The research in this paper can provide an effective reference for investors' investment decisions and managers' business planning.