Investment Value Analysis Of BYD Company Limited

In recent years,new energy vehicles are developing rapidly and have become one of the hot investment industries,China has been the world's largest market for new energy vehicles for three consecutive years,the government through industrial planning and the corresponding support policies to promote the development of new energy vehicles industry.At the same time,the stable operation of the economy,the increase of consumer demand and the upgrading of the concept of environmental protection consumption also provide capital and social security for the development of new energy vehicles,and the progress of technology will also be the continuous power of industrial development.In this context,the leading companies in the industry have very high research value.In this paper,BYD,the leader of new energy automobile industry,is selected as the research object,and the multi factor investment value analysis model is reasonably selected to solve the problem of the investment value range that investors are most concerned about,and the impact of external and internal environment and market performance changes on investment value is fully considered,and make up for the lack of dynamic tracking in the existing quantitative model.Main research process and methods: The research of this paper is mainly carried out in six parts.Part 1 is the introduction,including the research background,research purpose and significance,research contents and methods.Part 2 is an overview of relevant theoretical basic knowledge,including the main indicators of investment value evaluation and model methods.The development,advantages and disadvantages of traditional and modern investment value models are compared and analyzed.Finally,the multi-factor investment value analysis model is selected to evaluate the investment value of BYD.Part 3 analyzes the external environment,including the macro environment and the new energy automobile industry.Part 4 conducts internal environment analysis,including BYD company's basic situation analysis and financial situation analysis.The contents of chapters 3 and 4 follow the top-down analysis dimension,and provide sufficient analysis basis and data basis for the establishment of the company's investment value model.Part 5 is the most important part of this paper,which introduces the selection of model methods and the whole process of model construction in detail,and provides investors with the final reference range of investable interval.In the sixth part,the relevant conclusions are summarized and prospected.After comparison and demonstration,the author finally uses scoring method and proportion weighting method to establish a multi factor investment value analysis model.From the selection of effective factors and factor coefficients to the determination of investable interval by substituting relevant factor data,as well as the final model test and improvement,through the above series of analysis and demonstration,the final conclusion is obtained.The value range of multi factor investment value analysis model results is: 40.9 ~ 60.4,that is,BYD's investable reference interval is: 40.9 ~ 60.4.That is to say,when the model's score meets this range,BYD has the investment value,otherwise,it will be judged that it does not have the investment value,so as to provide investment value reference for investors.And the relevant data of the most recent reporting period(2019 annual report notice)is substituted into the model,and the value of y is 55.41,which is in line with the investable range of 40.9 ~ 60.4.Therefore,the company still has high investment value in the first quarter and follow-up time.At any given time point,investors can judge based on the y value in the model,at this point,whether BYD Company Limited has investment value.