The Valuation Study Of SUNING Commerce Group CO.LTD.

Suning Commerce,as a successful case of exploring from entity retail model to Internet retail model,not only completed the transformation to e-commerce but also committed to technological innovation.They developed rapidly in financial,logistics and other sectors,and built the corresponding cloud ecosystem.Therefore,the valuation research on Suning Commerce has the high reference value for other retail enterprises,which are at the transformation stage.In recent years,the expansion of the domestic Internet market has led to the rapid development of e-commerce,which has caused a serious blow to the traditional retail industry.At the same time,it has also promoted the development of a new mode of integration of the retail industry and the Internet,and promoted the traditional retail industry enterprises to innovate technology,accelerated the transformation of business model,and built a strategic layout for full-channel operation,constantly promoting the integration of physical store and online platforms.The transformation and upgrading of the retail industry to the Internet + strategy require the traditional retail industry to continuously improve the supply and service capabilities,improving the quality of the whole process before and after sales,and further promoting the integration of the entity business and the online platform business.After comparing and analyzing various valuation methods which are used frequently in the current research,this paper chooses three valuation methods: the free cash flow discount model,the market sales rate method and the market value / active user model which are suitable for Internet users.Based on the analysis of the general situation of the industry in which Suning Commerce is located,its own business development,financial situation and core competitiveness,this paper estimates the free cash flow related data of Suning Commerce.The results of the three valuation methods are different,and all are higher than Suning Commerce's current actual stock price.So it can be concluded that sunning Commerce's investment value is relatively high.