Research On The Valuation Of Power Lithium Battery Enterprises Based On EVA-BS Model

China’s support for new energy technologies has increased in these years,making the power lithium battery industry achieve rapid growth in technological innovation and market expansion.Nowadays,China’s new energy technology enterprises are facing severe challenges: First,the national access threshold for new energy vehicle subsidies continues to increase;Second,the market for the safety and practicality of new energy battery products are more stringent;Third,the development of power lithium battery enterprises has entered a bottleneck period due to the COVID-19 outbreak in early 2020.In this stage,it is of great significance to correctly evaluate the enterprise value of power lithium battery.However,the enterprise value of power lithium battery is generally lower than in the market.The main reasons are as follows: First,China’s capital market is not perfect enough;Second,enterprise value is seriously affected by the fluctuation of the whole industry;Third,the evaluation method of power lithium battery enterprise value is not perfect.Unable to accurately estimate the enterprise value of power lithium battery,many market investors miss investment opportunities when making investment decisions.Therefore,how to accurately evaluate the overall value of power lithium battery companies in a scientific and reasonable way will have a significant impact on the market development trend of the industry in the future.Based on the above reality,this thesis aims to explore an evaluation method that can accurately evaluate the overall value of power lithium battery enterprises.Firstly,this thesis systematically reviews the domestic and foreign literature on enterprise valuation methods.The feasibility and applicability of combining EVA(Economic Value Added)and B-S(Black-Scholes Option Pricing Model)are theoretically explained,and the characteristics of high growth,high risk and industry of power lithium battery enterprises are taken into account.Construct the EVA-BS combination model to determine the overall value of the enterprise.Then,in order to verify the feasibility of the combination model,this thesis calculates the current value and potential value of the enterprise through the financial data of EVE Energy from 2016 to 2020,and then uses this model to get the overall value of the enterprise.Finally,in order to eliminate the contingency of the case study,this thesis selects the evaluation results of six other typical listed companies in the power lithium battery industry for comparative analysis.In the research process,it is concluded that the combined valuation model of EVA and B-S is suitable for the overall value evaluation of power lithium battery enterprises.Compared with the value of existing assets,the overall value calculated by the combined valuation model of EVA and B-S can more accurately reflect the intrinsic value of an enterprise.Therefore,EVA-BS combination model has certain feasibility and applicability in the value evaluation of power lithium battery enterprises.Its main functions are as follows:The evaluation results obtained by this method can provide scientific reference for the investment and financing,merger and reorganization,additional stock issuance and other behaviors of power lithium battery enterprises in China;It can provide accurate information to enterprises and their stakeholders,provide scientific basis for them to make scientific and reasonable decisions.