Research On GS High-tech Enterprise Value Evaluation Based On EVA

In recent years,developing the new energy vehicle industry has proved to be a very powerful move to achieve carbon neutrality at an early date.As the core parts of new energy vehicles,new energy vehicle battery related industries have also been focused on and achieved rapid development.For new energy vehicle battery listed companies,the enterprise value evaluation and improvement suggestions can effectively help relevant enterprises optimize their own development strategies,and it is particularly necessary for investors to determine the investment orientation and the improvement of enterprise value.This paper takes the enterprise value of GS High-tech Co.,Ltd.(hereinafter referred to as "GS High-tech")as the research object,uses literature research method,quantitative analysis method and comparative analysis method to evaluate its enterprise value based on EVA valuation method.Firstly,it introduces the research background,purpose and significance,reviews and evaluates the domestic and foreign researches,and summarizes the theories related to enterprise value,enterprise value evaluation and evaluation methods.Secondly,the general situation and financial condition of GS High-tech enterprise are described to provide data support for enterprise value evaluation.Thirdly,the historical EVA of the enterprise is calculated according to the financial data of the enterprise.The historical EVA and the basic growth rate determined in the financial analysis are used to make a reasonable forecast in combination with the market prospect of the enterprise,national policies and other nonfinancial factors,so as to make a reasonable forecast of the future economic EVA of the enterprise.In the prediction process,Calculate the debt capital cost of the enterprise,the interest rate of medium and long term loans and the bond interest rate published in the annual report of the enterprise.The beta coefficient adopts the value of The National Tai ’an database and the 10-year Treasury bond interest rate as the risk-free interest rate.The final calculation result is 39.37 yuan/share,and the error is 0.64% compared with the actual stock price 39.12yuan/share.An error of less than 20% can be considered valid,indicating that the stock is slightly under valued.Finally,through the analysis of the results of GS High-tech enterprise value evaluation,and based on the results,specific suggestions are put forward,such as continuously increasing investment in R&D expenses,rationally monitoring and reducing financial risks,appropriately controlling the scale of enterprise expansion to improve quality,expanding foreign markets,integrating EVA into the enterprise management system and so on.It is expected to be helpful for investors to objectively understand enterprise value and improve enterprise management level.