| Pharmaceutical industry is one of the fastest growing industries in China at present. In this paper, the background is China's A share market, the main purpose of study is to analyze the investment value of listed pharmaceutical Industry Company of Jilin Province and find out the stocks which have investment value in order to help investors to invest rationally and provide some practical experience for the specific application of investment value evaluation method through the selection and application of the investment value evaluation method.The useful methods of the investment value evaluation are discounted cash flow valuation, relative valuation ratios, option valuation method, EVA valuation approach and business valuation. The discounted cash flow valuation method is the most theoretical sense of them, but its application is difficult and takes a lot of financial dates as support; Option valuation method can make more accurate estimates on the investment value of listed companies, but most of the companies'capital structures are complex and the implementation of this method needs to consider much complex parameters. So it is difficult to evaluate in practice. The relative valuation ratios of the investment value of listed companies are applied relatively simple, the results are more intuitive to understand and also has a good reference value for the future assessment applied to other industries. So the relative valuation ratios of the investment value of listed companies are mainly applied in this paper.To determine the investment value of listed companies, first of all is to analyze whether the trends of the industry have good development prospects. Because the trends of the industry are the prerequisites of determining whether the listed companies have investment value. This paper analyzes the basic situation and the development status of pharmaceutical industry in Jilin Province. Then the paper analyzes the environment of the international and domestic pharmaceutical industry, at the same time analyzes the technical Environment, population environment and related policy environment of pharmaceutical industry development. Finally, analyzes the development environment in pharmaceutical industry of Jilin Province, including natural advantages, talent advantages, technology advantages, industry advantages and so on.Through comparing the index of China's medicine plate and the related plates, such as trend and valuation, then analyzes the status and development potential of the medical plate of the A-share listed company and makes sure the investment value of the pharmaceutical industry in order to lay the foundation for the later analysis of pharmaceutical investment in Jilin Province. Only it determines the value of the object itself, it will be meaningful to compare the value analysis of the Jilin Traditional Chinese Medicine and the National Medical plates. So that the determination of pharmaceutical companies in Jilin Province is the basis of analysis of below investment value of China's medical section. Then to compare the basic conditions of medical section of Jilin Province and the national medical plate and make the comparative valuation analysis of the plates between Chinese and Jilin province using relative valuation method. Finally, analyze the relative value of Chinese listed companies in Jilin province from profitability, management ability, and solvency and capacity development aspects and analyze the advantages and values of listed pharmaceutical industry companies in Jilin province following the comparative valuation of price-earnings ratio, book value and sales income.From a financial point of view on comprehensive analysis of the investment value of listed companies of pharmaceutical industry in Jilin Province, first analyze six listed companies in the pharmaceutical industry's basic situation, then from six aspects such as business size, profitability, financial security, growth, operational efficiency and cash flows analyze six listed company's financial situation in a comprehensive analysis to determine which companies have investment value and the price of those companies has reached a true valuation and which do not. Through our analysis of listed companies in the pharmaceutical industry, establish the value of investments companies in the pharmaceutical industry in China A-share market. Meanwhile, the paper can give clear reference in the investment value of listed companies in the pharmaceutical industry so that the investors can thunder stand which stocks are worth investing in individual stocks, which need be careful participation, which units need to be avoided as much as possible. Finally, with the analyzes of the listed companies in Jilin Province of the pharmaceutical industry in this paper, given the recommendations of investment strategies, and enterprise with investment value of the investment set of points, given for long-term investment and short-term investment portfolio of different proposals. Through the analysis above, we can see the development of China's pharmaceutical industry is still to face many difficulties; there are many problems in this paper. Then will be given the specific proposals for these problems in final, In order to promote the development of Chinese pharmaceutical industry, hope to provide some reference for Government to formulate the policy of pharmaceutical industry, and also can provide some help to speed up the development of pharmaceutical companies. |
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