The Research On The Evaluation Of New Energy Company

With the growing shortage of conventional energy resources and the pollution of environmental becoming more severe,new energy because of it’s more cleaner and pollution-free quality than traditional sources of energy has became the trend of development of world’s energy industry.Under the impact of the global financial crisis and the world economy green,low carbon and sustainable development trends,to develop new energy industry has become a global consensus.New energy industry as the focus on the cultivation and development of industries in China,policy support and funding for its massive development and applications provide a good industrial base and resource protection,this shows that the Government’s development plan will be for the healthy development of China’s new energy industry,new energy industry development prospects are very good.In this context,concerning the new energy enterprises investment and financing activities carried out,reasonable estimates of value is the basic premise of the effective investment and financing activities,under the current economic and market conditions in China how to calculate the value of new energy businesses and related financing activities in order to provide a reasonable basis for decision-making has a very important meaning.First carding studied literature at home and abroad in recent years a business valuation based on system theory and new energy concepts,residual income,through the analysis of enterprise’s value assessment of the current situation of new energy identifies new energy business valuation theory and its practical significance.Secondly based on the residual income valuation model in three stages,in clear over the forecast period to introduce the improved system of DuPont financial analysis from the perspective of value creation to calculate the residual income of enterprises,combined with LDNS dynamic term structure of Treasury bond interest rates calculated discount rate as a parameter,the discounted rate more in line with the economic dynamics of themarket.Second reference to risk factors into three phases of the residual income model,to convert the summation of infinite polynomial associated with explicit forecast period book value of the company’s enterprise value,addition of explicit forecast period related projections are accurate.Again on the use of case studies illustrate the improved residual income valuation model in the practical application of how to operate it,and analyze assessment results and instructions.This Paper’s innovation reflected in the following two points:(1)Using the introduced improved DuPont financial analysis of remaining returns model combined with the introduced risk factor of three stage remaining returns model phase,from created value of angle starting,building out a model of value assessment applies for new energy enterprise;(2)Using LDNS model measuring clear forecast period within folding now rate this a parameter,to makes folding now rate more fitting market of dynamic changes.