Changyu Investment Value Analysis Report

With the continuous development of the world economy,people's investment philosophy is gradually going to rational and mature,the essence of stock investment value analysis is that reflects the operating prospects of listed companiesfrom the long-term observation of the stock price and appropriate assesses the value of the stock,thereby reducing the investment risk that the blind investmentbrought about.Although in recent years,the country's policy of limiting “the three pubilc consumptions” and “the white limit policy” have made the development of the wine industry slow,at the same time,as people's living standards improve,more and more attention is paid to wine,especially the young peopleafter 80,90 will become the main force of a new generation of wine.As to attracting investors to invest,the China's wine market thatin the growth of the industry's life cycle is verycompetitive,it still has a high developmentpotential and investment prospects.Yantai is located in China's Jiaodong Peninsula,nearing the mountains and by the sea,has four distinct seasons,the soil,light and humidity that suitable for grape growing are plentiful,soit provides a unique condition to the Zhangyu company which located in yantai and develope the wine industry.The main problem of this paper is the analysis of the investment value of Zhangyu A.The qualitative and quantitative methods are used to analyze the basic situation of macroeconomics and wine industry in China,mainly to understand the influence of external factors on Zhangyu Company.Then,Through theanalysis of the basic situation of the companyto understand the company's operating conditions,competitiveness strengths and weaknesses and development strategies.Next,further analyses its current financial situation,and make the peer comparison with the three listed companies.Finally,based on its historical data,the profit forecast of future three years' financial management of Zhangyu company has been made,then use the free cash flow model valuation method,the dividend discount model valuation method and the P/S ratio,the P/E ratio and the P/B ratio valuation methods to assessthefuture investment value of the enterprisefrom a different perspective,and ultimately make a more objective and reasonable investment value range of Zhangyu A,hope to deepen the majority of investors to understand the company's understanding,andto help investors' investment can bemore rational,decision-making more reasonable,thereby reducing investment losses.Through the study of this paper,the effect of strategic adjustment of Zhangyu companyis better,the development of Zhangyu A stock is relatively stable,there is still a great potential,investors may have a stable investment income,and is worth the attention of investors and investment,so it is recommended that investors can beinvolved when it in a reasonable price range.