Value Evaluation Of High-tech Enterprises Based On Real Option Theory

In the context of rapid energy consumption in the world,China’s energy security has been widely concerned,while the smog problem in the industrial era is becoming more and more serious.In the context of European and American countries advocating the ban on the sale of fuel cars,new energy industry is the trend of future development.Under this trend,the transformation of traditional car enterprises has promoted the rapid development of new energy enterprises and the promotion of future development strategy.Strategic development,hoping to improve our overall automotive research and development ability,the development of the nature and to seek balance and power battery as the new energy industry the core,is the government and the people focus on the object,the market competition is more intense,but in the circumstances,power battery industry is still faced with many problems: such as the great error in the valuation,financing difficulties of mergers and acquisitions.At the same time,it is difficult to reflect the correct value of gem high-tech enterprises due to their own attributes in terms of the traditional evaluation model,and the existing single value model in the market is easy to distort the true intrinsic value of enterprises.Based on the above situation,this paper takes Ningde Times,a leading power battery company,as a specific case study.Firstly,it defines the concept of enterprise value and evaluation method.For this industry,traditional evaluation model cannot accurately evaluate this industry and cannot reflect its overall real level.This paper will establish a new corporate valuation model--real option model based on EVA,EVA model reflects the current price of the company,real option model reflects the potential value of the company.Finally,comparing the valuation of this model with other traditional models,it can prove that this model can accurately reflect the real value of enterprises.At the same time,by analyzing the power battery enterprises with many unstable factors,this paper promotes the rationality of the case company at the level of valuation,provides reference for the overall investment decision to promote the optimization of the management system and improve the operating efficiency.provide development suggestions for the power lithium battery industry,provide reference for investment and financing strategic guidance in the future great market,and provide more real evaluation schemes for the management of enterprises to adjust the company’s strategic guidance and strategic decisions.