Research On Value Investment Of Yili Stock Based On Residual Income Model

In recent years,the domestic and international dairy products have developed rapidly.China has formed its own dairy industry chain,and compared with other industries,dairy products are more resistant to risks and have a longer anti-risk period.Have a certain investment value.As a leading company in the dairy industry,Yili has an important influence in terms of management,production technology,and product quality in China.And in dairy marketing,they not only have their own unique insights,but also provide a classic marketing strategy for the market,so it is worth investigating their value investment.Due to the improvement of the development speed of China's securities market,the value-based investment concept has become more and more popular.This investment value concept is based on exploring the intrinsic value of listed companies,that is,based on the analysis of the so-called fundamentals of listed companies to judge their investment value,and the analysis of appropriate financial statements can be said to be the basis of value investment.Where.Therefore,this paper selects the residual income model based on financial statement information as the valuation model as the valuation model of Yili.However,through analysis,it is found that the traditional residual income model has defects in application implementation.Therefore,the DuPont financial analysis system and the final market are introduced.The net rate is to solve the problem of deviation and infinite summation caused by subjective prediction.Based on the value investment,financial statement analysis and residual income model as the theoretical basis,this paper systematically and comprehensively analyzes the financial and operating conditions of Yili based on the development status of Yili and the industry environment,so that we can According to the historical data of the enterprise and the development status,it is better to grasp the future development trend of the enterprise,more accurately predict the financial data indicators needed in the future residual income model,and then substitute the relevant parameters of the predicted financial data indicators into the improved surplus.The income model estimates the intrinsic value of Yili shares,and concludes that the intrinsic value of Yili shares is greater than its market value,that is,the market value of Yili shares is underestimated.Finally,the conclusions of this paper are drawn: First,Yili shares have the value of investment,and investors can maintain the purchase.Second,the improved residual income model has considerable practical application value.First,in terms of case analysis,the improved model is more accurate in estimating the enterprise value and more explanatory on the market value of the stock.Secondly,as far as the model is concerned,this model emphasizes the creation process of enterprise value,which is in line with the financial goal that the enterprise wants to maximize value.Shareholders and related investors can use this model to discover the intrinsic value of the enterprise.Provide a reference for active and reasonable investment decisions.