Research On The Valuation Method Of Sse Star Market Companies

Under the background that China's economy is gradually moving towards high-quality development,a large number of scientific and technological innovation companies need to be listed for financing,and the Sse star market was born.Compared with listed companies in other domestic markets,Sse star market companies exhibit the characteristics of high investment,high risk and high return,and contain greater potential value.Traditional value evaluation methods cannot reasonably evaluate the value of sci-tech innovation board companies.Therefore,it is necessary to construct a value evaluation model that is compatible with the science and technology innovation board market,conduct a reasonable value evaluation on it,and provide a reference for the operation,investment,and decision-making of relevant market entities.This article focuses on the value evaluation of science and technology innovation board companies.First,conduct a theoretical analysis of the characteristics and value of the sse star market.Through analysis,it is found that the sse star market companies have strong profitability,large R&D investment,and rapid growth.On this basis,this article proposes that the value of the science and technology innovation board company not only includes the value based on existing assets,but also the value based on potential profitability.Thirdly,in view of the company's value composition,this article further proposes a combination model for the evaluation of the company's value on the sse star market,and applies the discounted cash flow method and the real option pricing method to evaluate the values of the two parts respectively.Finally,in order to test the applicability and rationality of the evaluation model,this article uses Lanqi Technology as a case to apply the model to the company's value evaluation,compare the results with their market prices,verify their applicability,The results of the case show that the option value of the company's potential profitability occupies an important position in the overall value of the company,and the company's valuation should pay attention to the intrinsic value of the option value;the market price is higher than the company's intrinsic value.The optimism of the board market and the semiconductor chip industry makes the market price relatively high relative to the company's intrinsic value.Investors should pay attention to the risks brought by market sentiment when investing in related companies.