Research On Investment Value Evaluation Of Silicon Carbide Enterprises

With the heating up of silicon carbide industry investment and financing events,how to reasonably value carbonization enterprises has become a problem to consider,due to the lack of listed companies with silicon carbide as the main business in the market,different enterprises are in different industrial chains,market value is different,use When the traditional valuation method gives silicon carbide companies,there are problems such as the difficulty of simple comparison of comparable companies.At the same time,traditional valuation methods cannot comprehensively consider the value of growth,operational flexibility and shareholder choice of silicon carbide enterprises,and it is easy to ignore the important impact of non-financial factors on enterprise value.Therefore,establishing a reasonable valuation method to value silicon carbide enterprises is conducive to promoting the rapid development of the silicon carbide industry and the reasonable development of investment and financing in the silicon carbide industry.Firstly,the research background is explained,and it is found that the existing literature lacks valuation research on silicon carbide enterprises through literature review.Therefore,on the basis of defining relevant concepts and sorting out valuation methods,through the introduction of the silicon carbide industry,the advanced financial situation and core competitiveness of Tianyue are analyzed,and the reasons for choosing Tianyue advanced as a valuation example are explained,which lays the foundation for the establishment of a reasonable valuation method for silicon carbide enterprises later.Secondly,it analyzes the valuation difficulties of silicon carbide enterprises,such as growth,risk and non-financial value are difficult to value.In view of these difficulties,the mutation progression-FCFF-B-S method was constructed as a valuation method for silicon carbide enterprises.Finally,it is concluded that the intrinsic value of Tianyue Advanced Enterprise is 27.928 billion yuan,and by comparing the valuation results with market capitalization,price-to-book ratio valuation and free cash flow valuation,it is found that the use of price-to-book ratio and free cash flow method valuation is easy to cause undervaluation of Tianyue Advanced,and the market gives Tianyue Advanced valuation a certain scarcity premium and a premium to leading companies.Finally,the full text is summarized,and the shortcomings and prospects are put forward.