The Investment Value Analysis Of Hainan Haiyao

Since Shanghai Stock Exchange and Shenzhen Stock Exchange established have more than 20 years, the market gets a great achievement. However, China’s Security Market is not enough mature than developed countries, for instance, the USA and the UK. The index of Shanghai is largely up and down, the hot market transforms the cold market very quickly. After the crash, the investors put their light on the value linvestment in the Pharmaceutical industry, because this industry has a bright prospect and been serious by government. HAINAN HAIYAO CO., LTD is the biggest size and listed earliest in Pharmaceutical industry of Hainan Province, this article study the value of HAINAN HAIYAO has a great significance.This article simplify introduce the fundamental situation of the Pharmaceutical industry and HAINAN HAIYAO, mainly use the financial report during the 2012 to the September of 2015 analyze the financial statements ,contain the earning measures ,the liquidity measures, the turnover measures and the development measures, by the method of financial ratio and comparative analysis, What’s more, to compute the term proportion of financial statement, adopt the structure of statement for the forecast the future financial dates. Using the discounted -cash flow model, PE model and PB model to evaluation the company value, are the important part of this article. Lastly, it draws the conclusions and tips the risks.Through the above analysis, the main conclusion listed as follow: HAINAN HAIYAO has an excellent financial situation, and become better year by year, the company is located in the industry’s mean level by comparative financial ratio, and value the end of 2016’s equity price in the range between7.13and 16.57yuan.