Research On The Value Evaluation Of Energy Beverage Enterprises In China

In recent years,with the continuous development of economy and the trial implementation and promotion of superimposed registration system,more and more enterprises can realize equity financing by listing in the capital market.At the same time,economic growth drives consumption upgrading.According to statistics,from January to June2021,the per capita consumption expenditure of Chinese residents increased by 18% year-onyear to 11471 yuan / person,and the actual growth rate after deducting the impact of price was17.4%.The rise in income led to the upgrading of consumption,which promoted the development of consumer goods enterprises,and finally led to a sharp rise in the financing demand of the industry.For example,Haidilao obtained HK $7.27 billion in equity financing through listing in 2018,and Nongfu Spring obtained HK $8.149 billion in financing in 2020.If an enterprise needs to be listed,it is inevitable to evaluate its equity value.Dongpeng beverage is the first listed enterprise in the industry.After being listed on the Shanghai Stock Exchange,the share price has risen by the limit continuously,and the share price has tripled,which impressed investors.However,the deep underpricing of the IPO of Dongpeng beverage and the position of the value center of Dongpeng beverage are puzzling.This problem is very important for enterprise managers to determine the company’s financing needs,securities companies to determine the listed stock price,or investors to make investment decisions.In order to determine the reasonable valuation of the company,in this paper,we will use the valuation method of economic added value to evaluate the internal value of the company.Therefore,this paper will discuss it in the following order:Firstly,starting with the analysis of the beverage market,this paper deeply explores the competition between the upstream and downstream of the beverage industry and the industry,and understands the industry status and industry position of Dongpeng beverage,so as to pave the way for the analysis and prediction and the construction of valuation model in the following paper;Secondly,we will turn our attention to the analysis of the past development and financial indicators of Dongpeng beverage.What is particularly important is that we need to select the most appropriate valuation method according to the operation and financial characteristics of Dongpeng beverage,and calculate and predict the parameters and indicators in the valuation method in combination with the actual requirements of the selected valuation method,Prepare for the final calculation of enterprise value.Finally,the core content of this paper is to evaluate the enterprise value through the previous research on the company and industry and the methods selected in this valuation.Through the valuation of Dongpeng beverage,we explore the conclusion of this valuation and the current situation of China’s stock market at the end of the paper,explore the underpricing of new shares of Dongpeng beverage,and discuss whether the current stock price is within a reasonable price range.Overall,this paper mainly adopts the economic value-added method,combined with the valuation case of Dongpeng beverage.With the rapid expansion of the capital market,the capital market will face more and more demands for enterprise valuation in the future.Taking the valuation of Dongpeng beverage as a case,this paper enriches the samples of company valuation,provides reference for other people’s relevant research,provides suggestions for the development of China’s capital market,and provides reasonable suggestions for the participants of the capital market.