A Case Study Of The Application Of Special Value Ratio Improvement In HS Coal’s Enterprise Valuation

With the continuous rise of coal prices in China,the coal industry has entered a boom period,and the pace of mergers and acquisitions,restructuring,and transformation of coal companies has accelerated.At the same time,the China Securities Commission issued and implemented relevant systematic rules for fully implementing the stock issuance registration system,highlighted the role of market examination,and put forward new requirements for the accurate assessment of enterprises.In order to optimize the industrial layout of the coal industry and promote high-quality economic development,it is especially important to study the real value of existing coal enterprises from the perspective of the market.In this dual context,the article combines the application of market methods when estimating the value of coal company companies based on specific valuation case studies,and in particular,consists of four parts.The second part provides basic information about HS coal companies and detailed analysis and forecasts of the coal industry on coal supply,demand and development trends.In the third part,in the process of applying the traditional market method of valuing the shares of HS coal companies,the existing problems are identified,the traditional market methods are improved,and the actual process of coal companies using the improved market method of assessing capital value is shown.The fourth part summarizes the above research results and presents appropriate conclusions and explanations.It has been proven that there are three main difficulties in applying traditional market methods:First,the subjectivity of the selection of comparable enterprises is strong.Secondly,the influence of the characteristics of the coal industry on the choice of cost ratio was not taken into account.Third,there are difficulties in objectively reviewing the cost ratio.Given the above problems,this work improves the traditional market method.First,using the combined method of K-means clustering and KNN classification algorithm,select comparable enterprises,eliminate the influence of subjectivity in selection,and select comparable enterprises more scientifically and objectively.Taking into account the characteristics of the coal industry,a special system for assessing the cost ratio of coal enterprises has been built in accordance with the industrial characteristics of coal companies.After optimizing the coefficients of special values,this article comprehensively analyzes the drivers of special value coefficients from quantitative and qualitative perspectives,and presents a BP neural network model for training and training due to the possibility of nonlinear interconnection of complex drivers,and improves the accuracy of correction results.In combination with the above research and analysis,this paper compares the assessment results obtained in the application of improved market methods and the assessment results obtained by traditional market methods with the actual trading volume of enterprises in the market,affirms the scientific and reasonable nature of the method of improving market methods,and provides a reference for the actual research of market methods when assessing enterprise value.