Study On Investment Value Of China Merchants Securities Company Stock

China's securities market is a vibrant new capital market,which is experiencing a high growth. Relative western developed countries of the capital markets, it's still not enough mature, system still not perfect. Especially in the WTO, China's capital market and the relevance of the global capital markets have further improved, In international politics, economy, domestic macroscopical economy, national industrial policy, the enterprise operation and investor psychological and other elements under the common function of, Constitute the relative complex Chinese A-shares capital market. Therefore, To securities market maturity, and is in need of a sound market system, overall supervision system and rational investors. But all this is established in mainstream investment concept, attention in advocating the listed companies operating condition and performance, through fundamental analysis and reveal enterprise's intrinsic value, which can be used as securities market investment basis, this is the advocate the value investment a powerful guarantee.The business system of Merchants securities are perfect, brokerage, the asset management business, self-managed securities business and investment banking operating mode and operation scale is the industry's lead. Merchants securities Co., LTD by shares asset allocation structure is reasonable, asset quality, good fluidity, its cash flow of abundance and asset recovery capability is strong, on all the existing situation of asset impairment has extracted from adequate preparation, Company's financial structure dovish, liabilities, various smaller asset-liability ratio index is low, debt-repaying ability strong, there is no foreseeable financial risk. And profitability, debt-repaying ability and developmental capacity were in the industry forefront. This paper, Merchants securities Co., LTD as the research object, through in-depth analysis the Chinese securities industry development situation, China merchants securities Co., LTD. Establish and fundamentals problems, such as application of DDM model, investment securities company stock investment value analysis, in order to investors investment decision-making reference.