Case Study On Value Evaluation Of New Energy Automobile Enterprises

Along with the developing of China's automobile industry,the consumption of fossil energy is increasing.However,the exploitation of fossil energy in China cannot meet the developing needs.Therefore,China has increased the development of new energy automobile industry.From the perspective of market environment,China's new energy auto companies are gradually increasing at this stage,enterprises mergers and reorganizations are also increasing.Meanwell,investors are paying more and more attention to the value of new energy auto companies.Therefore,the value evaluation of new energy auto companies has reference value for enterprises mergers,reorganizations and investors' investments.Based on the review of domestic and foreign enterprise value evaluation theories and methods,this paper analyzes the applicability of market law,income method and discounted cash flow method combined with the characteristics and current situation of new energy auto companies.This paper takes the new energy automobile company CA as an example for the value evaluation.By introducing the general situation of C A New Energy Automobile Company,analyzes the solvency,operational capability,profitability and development capability of CA New Energy Automobile Company,to evaluate the value of new energy auto companies.And it is concluded that the short-term and long-term solvency of CA New Energy Automobile Company is increasing year by year,which indicates that the financial status of CA company maintains well and has a good prospect.On this basis,this paper applied the average cash flow growth rate from 2013 to 2017 to predict the future cash flow.For the discount rate,this paper selects the five-year national debt as the risk-free rate and the risk-return rate,and selects the industry average return on equity as an important indicator in the calculating of risk-return rate to ensure that the overall industry impacts are taken into account in the value assessment process.And then compare the predicted value with the market value,the deviation between the predicted value and the market value is small,which indicates that the value evaluation result of the new energy automobile enterprise has reference value.Compared with traditional auto companies,new energy auto companies have great advantages in energy conservation.At present,China's new energy auto technology has made continuous breakthroughs,and new energy automobile enterprises are also keep developing.It is an inevitable trend to evaluate the value of new energy automobile enterprises.Combining with the discounted cash flow theory.The discounted cash flow method,as a scientific method to evaluate the intrinsic value of enterprises,is suitable for the characteristics of the value evaluation of new energy enterprises,which well reflects the essence of enterprise value.