Road Industry Listed Companies In 2008, The Investment Value

The multi-years continuously and steadily progress in economy greatly promoted Chinese in integrated national strength. The highway industry is simultaneously strengthened following with the fast economic growth. As the new increasing point in the national economy, the highway industry is making great contribution to the fast economic growth in China.At present, it is a distinct trend that the exchange rate of RMB will be moved up. The highway which is the major RMB investment attracts a lot of attention when investors' anticipation is still high. The profits of highway companies all have increase indifferent degree, in the following years, it will also increase rapidly. When economy rising speed becomes low, production ability has overplus, the whole profit of companies in stock market descends, transportation industry can't go up as anticipating, such increase looks especially distinct. Investors feel optimistic at large, the price of highway companies' stocks has been rising variously.As we know, recognizing value is the basement of any investments activities. To evaluate a company's intrinsic value which is usually called of investment value is not only a sort of science, but also a sort of art. Generally it takes complex knowledge and skills of economics, accounting, investment, the business enterprise management and operation. Analysis of investment value is the recognize of the listed company's value shaping. More and more vestors are beginning to use value reports as investing decision-making strategies.This paper draws lessons from the related articles of domestic and international, and in the base of analyzing theories of investment. This paper studied in the investing values of main companies of highway industry in stock market, based on opening information and some material offered by these companies, and investigation on the spot. It is our aim to guide the investors to establish an objective investment conception. This thesis is divided into five parts totally.The first part, introduction part. It mainly consists of four facets, the background of the research, the purpose of the research, on the status at home and abroad of research, and the thinking way and the method of the research.The second part, the foundation of the investment value analysis. It mainly consists of the explanation of the investment value analysis theories, the contents of the industry condition analysis and the financial analysis that affect and decide to the investment value analysis, and the methods of the industry investment analysis and the financial analysis.The third part, the analysis of the highway industry in our country. By the analysis of the characters of the highway industry, the present condition of the industry, the market supply and the industry policy. I investigate the condition of the industry of the real highway listed company.The forth part, the financial analysis of the investment value of the highway listed company in our country. This part analyzes the financial data of the real estate listed company. By the evidence research of the financial report, making use of the ratio analysis method and the contrast analysis method, making use of 16 financial targets. I analyse the earning abilities, the developing ability, the management ability and the repaying debt ability of the 16 listed companies in our country. In the meantime using the modern financial comprehensive analysis method, and the scientific sieving target method. I design the target system that reflect the investment value of the highway industry, list and estimate the targets in a line together, analyze the financial conditions and harvests of the 16 listed companies, and complete an qualitative analysis of the investment value of the 16 listed companies.The fifth part, the conclusion and suggestion. According to the research result of this thesis. I verify that the listed companies whose earnings is high, risk is small and growing-up soon, contain higher investment value only. Give a risk hint also, so that the investors can make an investment decision properly.The investment value analysis of the listed company is a problem that is very complicated. Attaining the accurate analysis needs not only very completely of theories knowledge but also abundant of actual experience with the insight of the deep. This paper is a study for doing oniy is a kind of first step.