| With the rapid update and iteration of science and technology and the support of the needs and policies of the transformation of the socialist market economic structure,the field of intelligent manufacturing has developed effectively and healthily,as well as a virtuous circle.In the field of intelligent manufacturing,the special equipment manufacturing industry has good development space and promising prospects in terms of scientific and technological research and development and technological innovation.However,there is long return period and uncertainty in the valuation of R＆D results on technological innovation.The intrinsic value evaluation of special equipment in the field of high-end intelligent manufacturing has faced new challenges.This paper is based on the efficient development of intelligent manufacturing field and the evaluation of intrinsic value of special equipment manufacturing industry is the focus of attention.In view of the current situation of industry case evaluation characteristics,based on valuation theory and practical significance,this paper explores the difficulties and challenges of intrinsic value valuation.Therefore,it achieves the research purpose of reasonably and accurately assessing the intrinsic value of representative companies in the field of intelligent manufacturing.The case selected in this paper is Harmontronics Automation Technology Co.,Ltd.,a company listed on the Science and Technology Innovation Board with intelligent manufacturing equipment as its main business.Firstly,this paper combs the relevant domestic and foreign research literature,and makes reference to the theory of the company’s intrinsic value,free cash flow and intrinsic value evaluation.This paper deeply analyzes the current mainstream valuation models and selects the most suitable valuation method for evaluating the intrinsic value of a company by using comparative analysis.Secondly,on the basis of the company’s intrinsic value assessment and life cycle theory,it expounds the operating status,competition pattern,and development trend of sub-industries of Harmontronics Automation Technology Co.,Ltd.Based on case studies,literature studies,quantitative and qualitative comparative research methods,this paper assess reasonably intrinsic value of Harmontronics Automation Technology Co.,Ltd.under discounted free cash flow for the firm method.Thirdly,a comprehensive inspection and analysis of the intrinsic value evaluation results are carried out to affirm the rationality,applicability and practicality of the application of the discounted free cash flow method.Finally,based on the overall evaluation process,suggestions are made for managers to improve the intrinsic value of the company,and the relevant inspirations are summarized,and the future evaluation of intrinsic value of enterprises on the Science and Technology Innovation Board is prospected. |
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