| The biotechnology industry,as one of the strategic emerging industries in the "13th Five-Year Plan",has received strong support from national policies.In addition,the improvement of people’s living standards and the pursuit of healthy life have also promoted the vigorous development of the biotechnology industry Development,so the biotechnology industry listed companies have gradually attracted the attention of a large number of investors.Related scholars through statistical analysis of value in China’s A-share market to bring a lot of money on the rate of return.Whether it is on the biotechnology industry listed companies to invest,or industry listed companies own management and development should be based on the biotechnology industry’s intrinsic value of enterprises.Biotechnology industry enterprises often have high R & D investment,high risk,high growth and other characteristics,so choose a suitable and effective enterprise value assessment method of biotechnology industry listed companies to assess it is particularly important.This paper first analyzes the advantages and disadvantages of several popular evaluation schemes in the relevant theoretical parts,and summarizes the scope of application of various schemes to determine the residual income model for the biotechnology industry.As the residual income model is also flawed,this paper is further revised on the basis of the original scheme,and the DuPont analysis system and the final book value are introduced.Secondly,the paper analyzes the implementation way of the scheme in the process of enterprise value evaluation,and analyzes the index of the model evaluation scheme in detail,and then calculates the enterprise value of Da’an gene and then extends it to the whole industry.In addition,the results of this scheme are compared with those of other enterprise value evaluation schemes.The results of the scheme are used to confirm that the revised residual income model is more suitable for the valuation of the enterprises in the biotechnology industry.Through the study of this paper,it is considered that the revised residual income model is suitable for the valuation of the biotechnology industry,and the analysis of the valuation process is also useful for other companies with similar characteristics in the biotechnology industry. |
