Research On The Value Evaluation Of Nuclear Power Enterprises Based On REVA

At the ninth meeting of the Central Financial and Economic Commission held on March 15,2021,Xi Jinping proposed that the realization of "carbon peaking and carbon neutrality" is an overall and far-reaching economic and social revolution of great significance.The strategic goal of "peaking and carbon neutrality" has been systematically integrated into the overall plan for the construction of socialist ecological civilization.Our country will achieve the goal of peaking carbon by 2030 and achieve carbon neutrality by 2060.The two-carbon goal of great strategic significance is the inherent requirement of the Chinese nation to maintain sustainable and high-level development,and it is also an inevitable choice to help form a community of shared future for mankind.As one of the clean energy power generation methods,nuclear power generation has the advantages of basically no air pollution,and can significantly reduce the total emissions of carbon dioxide that lead to the global greenhouse effect.Nuclear power enterprises are large state-owned power enterprises,but few scholars have accurately evaluated the intrinsic value of such enterprises,resulting in lack of reference for investors to invest in nuclear power enterprises.Based on the relevant literature,this thesis uses the method of combining theoretical analysis and case analysis to study the value evaluation of nuclear power enterprises.First,analyze the adaptability of traditional enterprise value evaluation methods and nuclear power enterprises,and determine the enterprise value evaluation method used in this thesis;Secondly,analyze the fundamentals of the case companies and build a REVA valuation model;Finally,use the REVA valuation model to evaluate the case Enterprise value is assessed and trends are forecasted for the next 5 years.The research results show that:(1)The traditional evaluation methods such as cost method,market method and real option method have certain limitations in the value evaluation of China’s electric power enterprises;(2)The REVA valuation model is used in the value evaluation of my country’s nuclear power enterprises.It has a good effect.The value of China’s nuclear power enterprises evaluated by the REVA model is basically close to its market value in the same period;(3)The REVA valuation model can reasonably examine the potential value of power enterprises,and at the same time calculate the after-tax net profit,according to the characteristics of my country’s nuclear power enterprises,according to the development trend of nuclear power enterprises and many elements of value generation,analyze and predict relevant indicators,and use the REVA valuation model to estimate the future growth potential of my country’s nuclear power enterprises.The innovation of this thesis takes the national strategic key nuclear power industry as the research object,and applies the REVA valuation model to the national key strategic nuclear power enterprises for value evaluation.The research of this thesis is expected to enrich the theory and method system of my country’s enterprise value assessment,and to provide reference for the development and investment decision of my country’s nuclear power enterprises.