Establishment And Application Of Investment Evaluation System Of CY Company

"Perfect all kinds of state-owned assets management system,deepening the reform of investment and financing system,to promote the value of state-owned assets" is the tobacco industry to strengthen the investment management system,the development theme of effectively prevent the loss of state-owned assets.In 2016,due to the global economic downturn,tobacco control ultra and cigarette taxes cantango huge pressure,"three is declining,two high" the serious situation of there is no fundamental change,so the tobacco company's expectations of the dependence of diversification development and growth.In 2017 the national tobacco industry diversification management meeting,deputy director of the national tobacco Zhao Hongshun pointed out that to prevent risks,standardized operation,to achieve a collective decision on the investment decision-making,scientific decision-making,decision-making.We will build an industry-level investment management platform,a provincial resource integration platform and a market-oriented public platform.To accelerate the diversification of the tobacco industry enterprise as a legal person governance structure of construction,in shaanxi province has established the CY investment company(hereinafter referred to as tobacco investment company),aims to improve the level of shaanxi tobacco business diversification management,therefore need to establish market-oriented,scientific and systematic investment evaluation system.The investment evaluation system is divided into two parts:investment process and risk evaluation system.In the investment process,according to the CY investment company project investment decision-making procedures established investment decision-making process,which set up a line of project manager,general manager office,three layer audit system,the board of directors and the audit points are at the level of the technical specification.Using literature review,in terms of investment evaluation methods of document reading,field interviews to the primary of investment evaluation indexes,clear logical relations,the method of determine the evaluation index,financial evaluation indicators,including market economic benefit evaluation index,the exit way,legal policy evaluation,technology evaluation index,management,evaluation index rule of seven layers,21 indicators.By using analytic hierarchy process(AHP)to calculate the index weight,and by reading the sasac relevant documents,the national tobacco files,provincial tobacco in investment company project manager review,general manager office audit layer,policy makers,the board of directors will be allocated to each audit index in each node decision evaluation,CY company investment evaluation system is established.Proposed strictly enforce investment process,standardized procedures,strictly carry out due diligence procedures,in-depth assessment proposed investment enterprises,strictly enforce investment evaluation system,such as quantitative investment feasibility countermeasures and Suggestions.The investment decision making system is applied to the "xianyang new textile industrial park distributed energy station" project to test the operability of the project investment evaluation system.The results show that the comprehensive score of the investment is 67.59,and the risk level belongs to BBB class,with medium risk level.Through the application results,it is indicated that the investment project evaluation system can provide quantitative decision basis for investors,and can effectively guide the actual work of CY company.