Power Listed Companies In China, Investment Value Analysis

With the deepening of the electricity reform, the electric capital market is developing constantly, and has broken the monopoly investment subject pluralism already. The activities such as electric enterprise's merger and acquisition, rearrangement of assets, etc. are sure to appear more too. Electric enterprises are causing people's attention day by day as the goods of the special trade, how about confirm electric enterprise's value, offer the basis for trade of electric enterprises, become the focus of the capital market and difficult point. As regards investors' angle, investors must analyze that its value of the enterprise which he made an investment in is higher or lower than the price (here, we assume that there are prices too in non-listing enterprises, price its annex the quotation of both sides for conclusion price of enterprise annexation), to look for the proper investment chance, choose the correct investment tactics.Enterprise's value assessment is the inherent value of assessing enterprises, and the inherent value of enterprises is closely related instead of the cash flow that can be produced in the future. This text analyses the intension of enterprise's value and value appreciation course in terms of value theory. It also has recommended the appraising method commonly used both at home and abroad, and made a concrete analysis of every factor which influenced the inherent value of listed company according to the characteristics of electricity trade listed company. Finally, with the foundation three stage cash flow model this text calculate the value of listed company to electricity, compare it with the enterprise average stock price for most recent two years against electricity and put forward suggestions for investment of listed company to go on.