Analysis On The Investment Value Of Zhongtong Bus

After China entry into WTO,the economy has been continuously developed and stock markets also continue to be growth and improvement, The relations between the stock market and global stock markets are getting closer, China’s A-share stock market are also forming and improving under influence of foreign economic and political, under the stimulation of domestic macroeconomic, under promotion of policies to national industries and investor interventions. One factor of China’s securities market continues to mature is to follow the correct conditions to guide of mainstream investment theory, comprehensive consideration of macroeconomic and industry position, as well as the overall performance of the company’s operations and to focus on the fundamentals of the company in order to prepare the analysis to understand the intrinsic value of the company. With the further development of China’s expressways, gradual implementation of environmental protection policies in the bus industry has made considerable progress. The bus industry’s market structure is gradually formed. This paper selects the bus pass for the study, in-depth analysis of the investment value of the stock bus pass, as references of investor decision-making. This study focused on the following aspects:Firstly, we drawn the relevant research results at home and abroad, expounded the theory of investment value analysis, so as to analyze accurately the stock investment value. Then, intrinsic value and investment value theory were introduced, combing valuation of stocks in several ways, including the relative valuation method earnings and book value method of absolute valuation method residual income model and the dividend discount model, to make a foundation of the financial analysis and valuation analysis. Secondly, analyzed each of the global macroeconomic situation and the macroeconomic situation of the country, the environment, relevant policies and the industry status quo of China’s passenger car market, analyzed the influence of the external macro-environment and the industry on the Bus Company. Then, analyzed the Bus company overall profile, shareholding structure and core competencies in technology innovation, brand characteristics and corporate culture, briefly discussed the future work program company. Again, according to financial data analysis of the financial indicators of the company’s cash flow structure and the ability to get cash. Finally, with the actual situation in Zhongtong Bus Company, used earnings approach, method and residual income model book value, dividend discount model to make valuation of the company’s stock, came to the intrinsic valu而e of the stock of the general range,compared to its market value,to provide investors with some useful information.Through the analysis can be found in the intrinsic value of the company’s bus pass their higher prices compared to the market, so it has some investment value, and the bus pass is constantly improving and growing, pioneering and innovative, new energy bus business is booming, it has great potential for development.