Study On Market Value Management Of HAI TIAN

The concept of market value management first emerged after the reform of non-tradable shares in 2005.Since 2005,the theory and practice of market value management have been developed for more than ten years.During this period,it can be divided into three stages.The development of market value management is a process from the private sector to the government.The first sign recognized by the system level is the new "national nine" issued by the state on May 9,2014.Market value management is adapted to China's capital market,while the western countries' corresponding concept is value management.After being proved and praised,the market value management becomes the focus of the capital market.Both market value management theory and market value management practice are developing rapidly.At the same time,it also produces various forms of market value management strategies.Both private organizations and the government are exploring the development direction of good market value management,which has no previous experience to draw on.In addition,due to the complexity of the capital market and the ambiguity between the legitimacy and the violation of market value management strategy,some enterprises are going more and more wrong in the market value management.Some companies,in the name of market value management,are secretly manipulating share prices.Such behavior is called pseudo-market value management.It hurts not only the company but also the investors.To this end,the government supervision part issued corresponding provisions to regulate market value management,and launched a special investigation.Market capitalization management has a set of performance evaluation index system,which is now recognized as the seventh edition published by the research center for market capitalization management of listed companies in China,a private organization.In this paper,the subject of the case study is HAI TIAN,which evaluates and analyzes its market value management.Firstly,the literature on value management and market value management is sorted out,the market value management theory is mainly discussed,the performance evaluation index system of market value management is introduced,and the similarities and differences between value management and market value management are explained in detail.Next,go to the case study section.This paper introduces the basic situation,industry status,shareholding structure,market value and main business income of haitanwei,as well as its operating performance and main business status in recent years.Then,the market value management status of HAI TIAN since its listing is analyzed.From its listing in2014 to April 9,2020,the market value of HAI TIAN has climbed from 49.7 billion yuan to 344.243 billion yuan,with a p/e ratio of 64.31 times.The market value management strategies adopted in the three aspects of value creation,value management and value realization include: product strategy,fine cultivation of sales channels,emphasis on research and development strategy,large dividend strategy,related diversified m&a strategy,excellent management and brand strategy.Then,the improved market value management performance evaluation index system is used to calculate and analyze the market value management performance.The analysis results show that except for 2016,the market value management index of HAI TIAN increased year by year.Finally,some Suggestions on market value management of HAI TIAN are put forward.Suggestions include: improving food safety awareness,warning brand overextension,and exploring the middle and high-end market.The conclusion of this paper is: as a leading enterprise in the industry,the market value management performance of hai tian wei ye is remarkable,but some aspects still need to be improved.As the leader of the industry,the market value management strategy of HAI TIAN has certain reference.