Research On Enterprise Value Evaluation Of The New Energy Power Battery Industry Based On Fuzzy Real Option Model

Driven by new-energy vehicles,new-energy power batteries industry have gradually realized rapid development for the past few years.With the continuous increase of the national subsidy threshold for new energy vehicles,the requirements of density and safety for power battery are also increasing,which makes the reshuffle of power battery market intensified.However,due to market imperfections and industry volatility,the value of power battery enterprises is generally low,leading the investors to hold a wait-and-see attitude.Therefore,it is important to scientifically and reasonably evaluate the intrinsic value of new energy power battery enterprises and show their development potential.This paper studies the enterprise value of new energy power battery with the support of asset evaluation theory and enterprise value evaluation theory.Firstly,literature research method is adopted to sort out the domestic and foreign literature,and it is considered that the theoretical and practical circles in China are in the preliminary stage in the evaluation of the new energy power battery enterprise,and the fuzzy real option method is even more rare to be used in the value evaluation of new energy power battery.Secondly,based on the characteristics of new energy power battery enterprises,this paper analyzes the applicability of fundamental evaluation theory,and deems that they are not suitable for the evaluation of new energy power battery enterprises.Furthermore,according to the source of the object value,the basic evaluation framework of the new energy power battery enterprise is defined and the affecting factors are determined.The b-s model is used with the fuzzy function to modify the parameter value,and the evaluation results are scientific and reasonable.Finally,based on the above theoretical framework system to guide the case of CATL enterprise value evaluation.Through the case study,the b-s model and the fuzzy b-s model are respectively used to evaluate the enterprise option value with the current value added to obtain the overall value.Through the comparative analysis of the results,it is concluded that the enterprise value evaluated by fuzzy real option method is closer to the overall market value.So it is verified that this method is applicable tothe enterprise value evaluation of power battery.In general,the whole value of CATL is underestimated.Based on the research of evaluation and previous scholars,this paper explores the suitable value evaluation method for new energy power battery enterprises,hoping to play a certain role in this kind of enterprise value evaluation.It is believed that this can also provide certain reference and guidance for the practical work of enterprise evaluation in other industries of new energy.