The Research On Valuation Of GGV Captital Investment Guanhaobiotech

With the economic development,high-tech enterprises perfect combination of knowledge economy era of information,technology,talent and services,the characteristics of complex competition,has become the technological progress and rapid economic development of the core driving force.In addition,the stock market has also set up a special trading sector for high-tech enterprises to provide effective financing channels for its rapid development to add a strong capital protection.In the process of equity investment,the investment institutions and the managers of the enterprises are around the value of the enterprise game,so the enterprise valuation is the focus of the negotiations.Enterprise value assessment is an important guiding significance for investors to make effective capital investment and promote capital appreciation.In recent years,a variety of corporate investment value assessment methods have been taken seriously,especially in the income law involved in the theory of economic value added to be more widely used.In this paper,the discussion of EVA valuation model is helpful for investors to make investment decisions rationally and efficiently.It is helpful to correctly evaluate the intrinsic value of the invested enterprises and realize the investment income,which is conducive to the promotion of China's securities market from capital-driven to value-driven.In this paper,the combination of theoretical analysis and case study,EVA index as a research entry point,the use of normative research and case analysis of the combination of methods to Excel software,Wande database,EVA valuation model,CAPM model as a tool,Mainly analyzes the status quo,applicability and solution of EVA enterprise value evaluation method in our country,and makes an in-depth study on the theory and practice of EVA theory in enterprise valuation.This paper is divided into five parts.The second chapter elaborates the traditional mainstream investment valuation method,and highlights the key points of the EVA evaluation method.The second chapter elaborates the traditional mainstream investment valuation method,emphasizes the EVA evaluation method.The second chapter elaborates the traditional mainstream investment valuation method,The third chapter is the case part of the case,including the case analysis of the case company and the industry,the applicability analysis of the application of EVA evaluation method;the fourth chapter is the main part,in the Guan Hao Based on the analysis of bio-financial analysis,the paper puts forward the adjustment of the major accounting items,constructs the EVA application model,and expounds the calculation methods of the core indicators such as the total investment capital,the weighted average cost of capital and the net operating profit after the EVA model.Based on the EVA index,the EVA value is forecasted based on the EVA value evaluation model.Finally,the EVA value evaluation model is used to calculate the intrinsic value of the firm and compare with the market value.The validity of the EVA evaluation model is tested and the limitations of the model are discussed.Chapter 5 is the conclusion and enlightenment of the case.This paper discusses the investment suggestion of the investor and the application significance of the EVA evaluation method in the value investment,guides the investors to understand the enterprise value correctly and promotes the healthy development of the investment valuation field in China.This paper not only applies the traditional EVA method,but also corrects and adjusts the model based on the characteristics of the high-tech mature enterprise,carries on some major accounting items to meet the characteristics of the case,establishes the fair value evaluation system,tries to maximize the degree To reduce the investment risk,in order to improve the efficiency of investor decision-making.However,limited by the author's practical experience,research ability,data collection and many other aspects,this paper in the research ideas and methods still exist is worth exploring And the improvement of the future: predicting the future of the enterprise EVA industry by the status quo and the ability to predict the ability to predict the impact of subjective factors,it may not be accurate,there is no more extensive sample space for empirical testing,can not judge Whether the application of the model is specific and contingent.At the end of this paper,the future development trend of EVA is prospected.EVA concept fully considers the core value creation ability of enterprises,and starts from the valuation method of value increment and value,and find the value investing in the low-quality enterprises on the market,and provide a rationality for the investors of the investment ideas,which can be expected EVA future will become mature,to help more investors a reasonable valuation,efficient investment decisions.