中国医药公司投资价值分析

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1、-AbstractWiththeimprovementoftheChinesefinancialmarketandthe diversificationofthefinancialproducts,peoplebegintopaymoreattentionto thevalueevaluation.Valueevaluationistheimportantbasistoimprovethe scientificityforinvestment,isalsooneoftheeffectivewaystoreducethe investmentrisk.Valueevaluationi

2、sofgreatimportanceforindividualinvestors, institutionalinvestors,acquirers,orthecompany'smanagers.TheChinesegovernmentandthepublicpaymoreattentiontothe pharmaceuticalcompaniesastheprocessofhealthsystemreform,thechangeof populationstructure,theurbanizationandgrowthofPercapitadisposable incomele

3、vel.Thepharmaceuticalindustryoccupiedamoreimportantposition inthenationaleconomy.Thearticlechoosesthecompanyinpharmaceutical industryastheanalysistarget.ThisarticlewillusethemethodofcaseanalysistostudytheChinaMeheco Corporation'sinvestmentvalue.Theauthorwillfirstanalyzethestatusof China’smacro

4、-economicenvironmentandthepharmaceuticalsindustryand focusesonChinaMehecoCorporation.Basedontheannualreportsfrom2008to 2012,theauthorwillanalyzethecompany’sfinancialstatements,evaluatethe operatingperformance,andmakeareasonableforecast.Thecompany’s investmentvaluewillbeestimatedbytheFCFFmethod

5、.Throughtheanalysisof multipleperspectivesofmacroeconomy,industrycompetitionandcorporate finance,theauthorwillpresenttheriskofinvestingthecompany.Thestudywill showprospectofdevelopmentandthevalueforinvestmentofthecompany.Keywords：Thepharmaceuticalindustry;Financialanalysis;Valuationassessment6

6、---目录第1章引言.......................................................81.1选题背景.....................................................81.2分析意义及方法...............................................91.3分析框架和内容...............................................9第2章价值评估理论方法和相关文献综述............................112.1

7、价值评估方法................................................112.2国内外相关文献综述..........................................13第3章宏观经济环境分析与医药行业分析............................153.1宏观经济环境分析............................................153.2医药行业分析..........