| In recent years,the "chemical industry encircling the river" has become more and more serious,which has become a major hidden danger to the ecological and environmental protection of the Yangtze River.Because the country attaches more and more importance to the construction of ecological civilization,many methods and means have been adopted to solve the problem of the chemical industry in the cities along the Yangtze River basin,such as relocation,closure,production transfer,product upgrading and transformation.Many chemical enterprises respond to the policies of the state and the government and take advantage of relocation opportunities for transformation and upgrading.Compared with the other projects,chemical industry product upgrade project due to its stakeholders more technical solution in diversity,so through the relocation product upgrades risk is bigger,it also illustrates the project investment decision-making stage USES the correct and scientific financial evaluation method for the project financial evaluation is very necessary.This paper studies the upgrading and reconstruction project of DC Company,a chemical enterprise,by taking advantage of the relocation opportunity.First of all,it provides a solid theoretical foundation for the research work of this paper by reading and learning a large number of theories and methods of project financial evaluation as well as literature and materials of industrial circulating water industry.Secondly,I took the opportunity of internship in DC Company to have an in-depth understanding of the company’s business situation,product profile,the necessity and process of upgrading and transformation.Based on the relevant information in the industrial design book provided by DC Company,and through communication with relevant personnel of the company’s financial department,I calculated the basic forecast financial data of this project.After that,the traditional financial evaluation method and EVA financial evaluation method are respectively used to conduct financial evaluation of the project.Specific analysis of the evaluation process is as follows:First,the traditional financial evaluation method is used to evaluate the profitability and debt paying ability of the project and to conduct uncertainty analysis of the project;Second,using EVA financial evaluation method to evaluate the main calculation of the project calculation period of EVA value and the sum of the present value of EVA DEVA;Thirdly,combining the evaluation results of the two evaluation methods,it is concluded that the project is financially feasible but has low return on investment.Finally,according to the problem,the author puts forward the suggestion that we should enhance the awareness of investment risk control,reduce financing cost and increase the government subsidy.Innovation point of this article is the traditional financial evaluation method and EVA financial evaluation method is applied to private chemical enterprise,access to the financial data of a private chemical enterprise,for the private chemical enterprise products upgrading project investment decision-making provides a new thought of financial analysis,but also to a certain extent,expanded the application field of EVA financial evaluation method. |
