Based On The Perspective Of Investors Of Lu Zhou Lao Jiao Long-term Investment Value Analysis

As China’s market economy and capital markets are maturing, together with the state promulgated a series of restrictions, such as "Three consumption" and other policies, so that the liquor industry said goodbye to the once glorious "golden years." Since 2012, the liquor industry has been the depth adjustment, inventory backlog problem has been improved. Their current state, the liquor industry has obvious "weak recovery" sign. And focus on the many positive factors in the reform of state-owned enterprises and the Internet boom comprehensive upgrading, etc., are given the liquor industry investment opportunities. Therefore, the expected future development of the liquor industry is likely to pull out at low demand for a new approach to development of normal growth. Although there has been some investment value analysis report Luzhou Co., Ltd., but the light of the studies in the past have lost their timeliness, and the company itself is growing and changing, so this current study are still some practical significance.This article is based on the perspective of investors, and Luzhou Co., Ltd. as the main object of study, long-term investment value analysis in many ways. This paper mainly Luzhou Co., Ltd.2008-- annual data disclosed in 2014 as the basis, first on the liquor industry to analyze the situation, and then combine the Luzhou Co., Ltd. opportunities and challenges faced by their own financial situation and analyze, evaluate and then pave the way for the enterprise value. Finally, the use of valuation models for enterprise value assessed on the valuation results were evaluated. It should be noted that, due to the creation of this article during the 2015 Annual Report have not been disclosed, it will start in 2015 as a prediction, that is 2015-2019 five-year development is expected to be a reference.The results of this paper show that:From the industry perspective, the stock liquor pressure decreases, the industry out of the doldrums, was the new normal trends; from Luzhou own point of view, although there are some problems, but fortunately the company can seek development and changes, timely development strategies; from the results of the valuation models, the two models can be derived Luzhou value undervalued, indicating that both the conclusion of consistency. In summary, in terms of valuation industry conditions or fundamentals point of view, it is that there is a certain investment value Luzhou.Finally, this article only the basic situation of Luzhou analysis and valuation, and did not involve technical stock analysis, coupled with the lack of field trips this article, only annual reports and other channels to obtain the data publicly disclosed. Therefore, this article applies to investors to grasp the future long-term trend does not apply to short-term investment decisions, and are subject to the above factors, the analysis in this article may not be very comprehensive, there are some limitations. So, I hope the majority of investors can clear investment risk.