| Enterprise value analysis is a topic that requires continuous attention in the process of enterprise development.Most of the existing studies are based on traditional financial methods to study enterprise value,ignoring the influence of factors other than finance on the intrinsic value of enterprises.This paper applies the Harvard Analytical Framework to the field of enterprise value research,exploring and addressing enterprise value issues from a new perspective,and providing enterprises and related organisations with a more comprehensive and scientific analytical tool for enterprise value assessment.As the world’s largest car manufacturing and sales market,China’s car industry plays an important part in the country’s economic development.However,economic downward pressure has slowed the development of the automotive industry in recent years.With the advent of the era of "new energy and intelligence" and the national emphasis on energy conservation and emission reduction,many domestic automotive companies are trying to improve their competitiveness through transformation.As a well-known Chinese automobile brand and the largest SUV manufacturer in China,Great Wall Motor has been developing well in recent years,but there are still problems and shortcomings in its management.An analysis and summary of its experience and lessons learned in the development process will help the company to improve its competitiveness and expand its market share,and will also be of some significance to its peers.Based on the definition of relevant concepts,this paper applies the Harvard analysis framework to conduct a comprehensive analysis of the factors affecting the enterprise value of Great Wall Motor.An analysis of the four aspects of the company’s strategy,accounting,finance and outlook reveals the following main issues: a single product structure and difficulties in transforming the enterprise strategy;excessive growth of accounts receivable,increasing accounting risks;insufficient utilization of assets and unstable financial structure;late start of new energy and The development prospect of new energy is hampered.On the basis of this,a free cash flow model was developed to assess the enterprise value of Great Wall Motor and found that its intrinsic value was undervalued.In response,the paper makes recommendations to enhance the enterprise value of Great Wall Motor: optimise the model structure and implement a differentiation strategy;Improved receivables management and bad debt provisioning;improve the company’s financial structure and enhance the efficiency of asset utilisation;and enhance R&D capabilities and improve competitiveness.Overall,the changes in the automotive industry present both opportunities and challenges for Great Wall Motors,which will need to continue to refine its development in order to achieve longevity. |
