Research On The Valuation Of Chipsea

On June 13,2019,the Sci-Tech Board was officially established.The board mainly serves science and technology innovative enterprises that are in line with national strategic goals and have made significant progress in core technologies.As the core of the information technology industry,the semiconductor industry is one of the pillar industries of the national economy.At present,the Sci-Tech innovation Board has become the preferred place for semiconductor enterprises to be listed.The effective valuation method will help to stabilize the market’s reasonable expectation of the semiconductor enterprises,and thus contribute to the continuous and rapid development of the semiconductor enterprises.As the first chip design enterprise of full signal chain of Sci-Tech innovation board,Chipsea is representative to a certain extent.The characteristics of semiconductor enterprises and sci-tech innovation board market determine the particularity of this kind of enterprise value evaluation.This paper takes Chipsea as the research object,according to the relevant literature review at home and abroad,the definition of relevant concepts,the introduction to relevant valuation theory,the analysis of enterprise value influence factors,the choice of enterprise valuation model and the enterprise value evaluation based on EVA-BS valuation model logical order.The paper divides enterprise value into existing value and potential value,selects the model respectively,analyzes the use conditions and parameters of the model,shows the specific application analysis process of the model,and conducts sensitivity analysis on key parameters in the model.Finally,the evaluation results are compared with the actual market value of enterprises to analyze the validity of the valuation model in this paper.Paper based on the valuation research of Chipsea,explore the use of EVA-BS valuation model to Sci-tech Innovation Board the rationality and validity of the semiconductor enterprise value assessment,in order to more accurately assess the value of such Sci-tech Innovation Board listed semiconductor companies to provide referential suggestions.At the same time,it will help investors to form a rational investment concept and improve the rate of return on investment.