关于永辉超市价值的研究与思考

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6、ÕḄß2。ᨬ4，¶5὏ᨵ¾Î，¶·78ᦈᐭ，¶·_9ᕜ7᳛、<=>?@ᳮ[ß2，FAɶ·åæ½¾ḄBᩭ¶DEF°ß2。ᐵGH：ᳮ，ᡊᶍ，#ᵫ$%ITHERESEARCHANDSTUDYOFTHEVALUATIONOFYONGHUIABSTRACTWiththedevelopmentofeconomicanddisposableincomeofresidentsofChina,retailsandsupermarkethasalsoexperiencedbloominginthepastdecades.RepresentedbyCar

7、refour,Wal-MartandRT-Mart,foreignsupermarketshaveexpandedtheiroperationalloverofChina.Althoughdomesticsupermarketshavealsobeendevelopingwithhighspeed,thescale,operationperformance,andbrandingarestillbehindtheforeignbrands.Yonghui，whichwaspreviouslyaprivatecompany,wenttolistingin

8、2010,withcompetivenessoffreshfoodandproducts.Yonghuihasexpandeditsoperationnationallywith250shopsacrossChina.YonghuiistheNo.7brandinthetop100ranksoffastconsuminggoodsofChinain2012.Basedonthetheoryofvaluebasedmanagementandcorporationvaluation,westartedfromtheanalysisofstrategy,fo

9、cusontheoperationandfinancialperformance,maketheanalysisofthestrategyandvaluationofYonghui.Basedontheviewofvaluedriverindicator,calculatethepresentvalueoffreecashflowandgettheimpliedvalueofshareholderandtheimpliedstockprice,withthemodeloffreecashflow.Comparetheimpliedstockpricew

10、iththepriceinmarketandtrytoprovidetheadvicefori