Everbright Securities Co., Ltd., The Investment Value Analysis

The China stock market is an emerging fast development market, which is also not mature and has formed an extremely complex non-linear dynamic system under the many kinds of factors interaction, such as the international environment, the nation policy, the economical situation, the profession prospects for development and the populace psychology and so on. Hence, if the stock market wants to move towards maturely, it should guide the investor to research stock intrinsic value, namely request the investor to set up the rational investment idea. The investor should pay more attention to the management behavior and the achievement performance of the listed company, and obtain the stock intrinsic value through the basic analysis, and take this as the main investment basis, which can cause the stock market truly to march into the value investment time.In 2008, under the impact of the high international oil prices and the loan crisis of United States, the United States and the global economy have suffered from slowing down. In the complex background of China's high domestic inflation; the rise in the cost of production in companies; the continued increase in the value of the RMB; the decline in export growth; the size of non-lifting of the ban; government's effort to strengthen macro-control; the tightening of the money supply; the negative prediction toward the economic development of China, the Chinese A-share stock market suffered from a profound adjustment, not only resulting in the decline in the stock markets of the world, but also becoming the worst-performing stock market of he world.This paper will first analyze government's current macroeconomic trend and the development of A-shares on the current stock market. Second, based on fundamentals of industry analysis, the paper will analyze the Everbright Securities, the competition in the market by using the SWOT analysis. Simultaneously, the paper will analyze the company's financial position, analyze the company's payoff power ,refund power, development power. Finally, the paper will establish and using the DDM model, evaluate the immanency value of Everbright Securities, provide decision-marking reference to investors.