Under The Reform Of State-owned Enterprises The Tongrentang Company Investment Value Study

With the rapid development and change of economic market in a few years,the traditional state-owned companies are facing significant change in the reform of state-owned enterprises,investors face more unpredictable external environment,whose investment risks also increase,therefore,investors should focus on the investment value of companies.TRT Group which is a Traditional Chinese Medicine companies deeply affects our average person's life.TRT can be a representative pharmaceutical company.In recent years,many investors will be suspicious about investment in the pharmaceutical company,TRT as the state-owned companies is still worth the investment,the company's shares whether there is undervalued or overvalued by the market,which is worth exploring analysis.First this thesis write the modern pharmaceutical industry.The macro environment background choose the reform,at the same time,introduce TRT company's basic situation of the enterprise.TRT enterprise financial analysis,which puts 2015 year as the reform boundary put into two parts.Financial report provided by the data for comparison,which also provides data such as understanding the tendency of the company in 2010.From four parts to financial analysis,a comprehensive understanding of reform in enterprise investment value the overall effect of TRT.But the analysis is limited to the enterprise own development different year investment,TRT is not contending with other pharmaceutical firms in the industry.Second,constructed the model of investment value of listed companies,select indicators,using SPSS software,put on factor analysis to quantitative analysis,including TRT enterprise comprehensive top 26 companies as the object of comparison,it is concluded that the total score function,rank,thus it can be seen that TRT enterprise present situation of the real investment value judgment TRT enterprises.But the analysis is limited to TRT temple in the present situation,which predict a not future.After the p/e ratio method of model construction,predict the future development of investment value.Finally,from the perspectives of equity dividends,another Angle analysis,whether investors should be capital investment in a business colleague.Investment conclusions:in the reform,in the pharmaceutical companies.TRT has certain investment value,but need a long time to get return,investors still need to be careful consideration.