Research On The Value Evaluation Of Dangsheng Technology Company Based On Real Option

In recent years,the high boom of new energy vehicles,energy storage for new energy power generation and 3C consumer electronics makes the demand for lithium battery unprecedentedly hot.The lithium battery industry has a broad market space in the future,and the competition in the field is becoming more and more fierce.The companies related to the industry chain are facing many opportunities and challenges,and the high uncertainty of the future operation also follows.These companies have great development potential,so in recent years,they have been welcomed by capital,and the scale of investment and financing has grown rapidly.In order to provide scientific and reasonable reference valuation methods for capital market behaviors such as investment and financing,mergers and acquisitions and restructuring of relevant companies and investors,promote the healthy development of relevant industries,and enrich the application research of corporate valuation methods in China,This paper takes Dangsheng Technology Co.,LTD.,one of the major manufacturers of lithium battery cathode materials in China,as an example to study the application of comprehensive valuation model based on real options in corporate valuation.This paper firstly combs and compares the classical theories and methods of corporate value evaluation.According to the characteristics of companies in the lithium battery industry,the applicability of value evaluation methods of companies is analyzed by comparative analysis method.It is concluded that the real option value of companies in the lithium battery industry can not be ignored,but the traditional corporate value evaluation method does not reflect the real option value of companies.After that,this paper describes the general situation of Dangsheng Technology Company,and then this paper further establishes a comprehensive model of estimating the value of existing assets by EVA valuation model and estimating the value of potential assets by B-S model in real option model.Then take Dangsheng Technology Company as a case study and estimate its overall value by applying comprehensive corporate value evaluation model.Finally,the results are compared with the closing price of dangsheng technology evaluation base day and the average transaction price in 2021 to verify the applicability and rationality of the comprehensive value evaluation model.Through analysis,this paper concludes that the comprehensive evaluation model combining EVA method and real option method is suitable for the evaluation of lithium battery industry companies.Compared with the results of traditional valuation methods,the comprehensive model based on real options reflects the overall value of the company more comprehensively and reasonably.Using real options method with traditional value assessment method of EVA method,a comprehensive model for lithium battery industry company valuations to investment and financing,merger,acquisition and reorganization to the lithium battery industry company capital operation and investors to make investment decisions such as to provide scientific reference,further boost new energy vehicles and new energy power generation industry’s healthy development.