Research On The Market - Oriented Management Of Sany Heavy Industry

Since the split-share reform has began in China in 2005 and then enters into the full-circulation stage, the pursuit of the maximize value of the company has become the primary objective of the listed company and the management concept of market value management has draw widely attention. Weak efficiency status quo of China’s capital market has led to the deviating of the company’s market value and intrinsic value which needs appropriate management solutions to make both match.In this thesis, the author takes Sany Heavy Industry as an exa mple, using literature review method and case analysis method to conduct a study of the value management. First, to make an analysi s of the changes in market value with index of PE ratio and price/book value ratio, then to represent the company’s market value man agement strategy. The main part of this thesis makes an analysis on the company’s solvency, profitability and other traditional financial indicators and economic value added indicators. After understanding the basic operation situation, then making a comparison of the fiv e indicators and the total market value of the variance, it can be f ound that the implement of the company’s rapid expansion strategy can led to sharp fluctuation of the company’s total market capitaliz ation. According to the development trend of the market capitalizati on comes to the conclusion of the relationship between the marketvalue of management and business performance and then divides it into three phases.Through the above analysis, we can draw a conclusion that the total market value indicators of Sany Heavy Industry will be affec ted by China’s capital market inherent defects in a long term; Since2011 the business performance and the value creation ability has b een declining, the development of the total market capitalization in2010-2012 does not conform to the operating performance which h as no support by the corresponding performance and deviates from the true intrinsic value. the formulation of the company’s developme nt strategy should match the company’s own development capacity,rapid development of the market will result in inflated illusion; Fin ally, the thesis sums up the value management advice of Sany Hea vy Industry from the general value creation, value management and value realization. Management is common in the market, after the detailed analysis of the value management of Sany Heavy Industry,the thesis may help more listed companies to find value managem ent strategy that suitable for their own development.