Research On The Value Assessment Of G New Energy Enterprises

In September 2020,General Secretary Xi Jinping clearly proposed the goals of "carbon peaking" by 2030 and "carbon neutral" by 2060,accelerating the pace of reducing carbon emissions,guiding green technology innovation,and improving the global competitiveness of industries and economies.The 20 th Party Congress proposed a "comprehensive conservation strategy" to help promote the country’s green transformation,which will further accelerate the development of the new energy industry and promote the vigorous development of energy storage enterprises.Promoted by national policies,the new energy industry is rapidly expanding and generating a series of economic activities,such as investments,mergers and acquisitions,restructuring and guarantees,which provide more and more application scenarios for value assessment.Before engaging in economic activities such as investment or restructuring,investors evaluate their own value,not only to help investors understand the company,but also to control risks and assess the future benefits they will receive.However,due to the short development time of the new energy industry,a scientific and systematic valuation method has not been formed in the theoretical and practical circles for the valuation of new energy enterprises,and the valuation methods applied in practice do not analyze the relevant characteristics of new energy enterprises.Therefore,the thesis attempts to match the original method with a suitable method for new energy companies to conduct an accurate valuation study.In the thesis,we use the dual-model valuation method for enterprise value assessment research,taking G New Energy enterprise as an example.Firstly,the characteristics of the industry in which G New Energy is located and the value influencing factors are analyzed in depth,and the characteristics of the traditional method of valuation are introduced.Secondly,by reviewing the information,we learned that G new energy companies usually use the market multiplier method to value their assets,but the thesis found that the market multiplier method cannot accurately assess its own value.However,the object of study belongs to a new energy enterprise,and its potential value may have a considerable impact on the overall value,therefore,the thesis finally decided to consider the overall value of the enterprise from two parts: The equity free cash flow model was chosen to evaluate the intrinsic value generated by the business activities of the company;the B-S valuation model was chosen to evaluate the potential value generated by the external investment projects of the company.Comparing the valuation results derived from the dual model with the market value of the enterprise,the results show that the valuation results of the thesis are basically consistent with the market value of the enterprise.Therefore,the thesis concludes that the equity free cash flow model and the B-S valuation model are feasible for valuing G new energy enterprises and can produce scientific and reasonable valuation results.Finally,the thesis puts forward suggestions from two aspects: enhancing the enterprise’s own value and investors’ rational investment.