多氟多化工股份有限公司投资价值案例分析

发布时间：2018-01-09 23:19

本文关键词：多氟多化工股份有限公司投资价值案例分析　出处：《哈尔滨商业大学》2017年硕士论文　论文类型：学位论文

【摘要】：近年来,我国汽车行业迅猛发展,给人们出行带来便利的同时,也带来了一些问题。一方面传统燃油汽车对汽油等能源消耗较大,另一方面也造成严重的大气污染,以至于给我国多地带来雾霾天气,严重威胁到了人们的生活健康。因此国家大力推广新能源汽车产业发展,新能源汽车由于其自身能耗较低,价格低廉,安静环保的优点很快得到消费者的认可,近年来新能源汽车销量呈指数型增长。新能源汽车下游需求爆发的同时,也带动了锂电池行业的发展。2016年上半年,锂电池行业上市公司成为了市场上最受关注的投资方向。锂电池板块自身具有双重性,一方面属于高科技概念板块,有"抄故事"的嫌疑。另一方面锂电池行业公司集体业绩上涨,财务数据华丽。从本案例来看,多氟多化工股份有限公司究竟是具有长期投资价值,还是过分炒作就成为了一个值得研究的问题。从分析上市公司内在价值的角度来看,如何建立体系分析高速成长的公司,本文也进行了一定的探索与尝试。本文以锂电池行业的业绩爆发作为背景,选取行业内业绩增长最为出色的典型公司多氟多化工股份有限公司作为案例分析对象。综合案例公司的财务因素与非财务因素,对案例公司的投资价值进行了一定的分析。财务因素通过主成分分析法,将锂电池行业的公司财务状况概括为盈利能力,偿债能力,营运能力,成长能力四个方面,将案例公司的财务状况评分与同行业对比进行初步分析,之后对多氟多化工股份有限公司财务指标进行深入分析,并得出估值结果。非财务因素从宏观环境、技术壁垒、风险因素等方面,对公司的发展潜力与内在价值进行评估,对公司的未来发展前景做出预测。最后结合财务因素和非财务因素,针对案例公司提出相应的投资建议。本文经过一系列的分析论证得出结论:2017年经济预期依旧不佳,但锂电池行业依旧有较好的发展环境和机会。多氟多化工股份有限公司深耕于锂电池行业,有丰富的经验,占据着锂电池产业链盈利能力最强的一环,同时积极布局新能源车全产业链,有望通过未来新能源汽车下游需求爆发获得更好的成长,值得长期投资。但目前公司业绩贡献较大的产品价格受到降价压力,新能源汽车业务业绩爆发也需要时间,从估值角度来看多氟多化工股份有限公司短期存在价格虚高的风险,建议投资者谨慎交易。
[Abstract]:In recent years, the rapid development of the automobile industry in China has brought convenience for people to travel, but also brought some problems. On the one hand, traditional fuel vehicles consume a lot of energy such as gasoline. On the other hand, it also causes serious air pollution, even brings haze weather to many places in China, which seriously threatens people's health. Therefore, the country vigorously promotes the development of new energy automobile industry. Because of its low energy consumption, low price, quiet and environmental protection, the new energy vehicle is quickly recognized by consumers. In recent years, the sales of new energy vehicles have increased exponentially. At the same time, the downstream demand of new energy vehicles has exploded. In the first half of 2016, the listed companies in the lithium battery industry became the most concerned investment direction in the market. The lithium battery plate has its own dual nature. On the one hand belongs to the high-tech concept plate, has the "copy story" suspicion. On the other hand, the lithium battery industry company collective performance rises, the financial data is gorgeous. From this case view. Whether polyfluorocarbon chemical co., Ltd has long-term investment value or excessive speculation has become a problem worth studying. From the angle of analyzing the intrinsic value of listed company. How to set up a system to analyze the rapid growth of the company, this paper also carried out a certain exploration and attempt. This paper based on the performance of the lithium battery industry as the background. Select the typical company with the most outstanding performance growth in the industry as the case study of polyfluoro chemical co., Ltd. Comprehensive case of financial factors and non-financial factors. Through the principal component analysis, the financial situation of the lithium battery industry can be summarized as profitability, solvency and operating capacity. Growth ability of the four aspects, the case of the financial situation of the company and the comparison of the preliminary analysis of the same industry, and then the financial indicators of the polyfluorine chemical industry limited company in-depth analysis. And get the valuation results. Non-financial factors from the macro environment, technical barriers, risk factors and other aspects of the company's development potential and internal value evaluation. Forecast the future development of the company. Finally combine financial factors and non-financial factors. According to the case of the company to put forward the corresponding investment proposals. This paper through a series of analysis and demonstration to draw a conclusion: 2017 economic expectations are still not good. But the lithium battery industry still has a good development environment and opportunities. Polyfluorocarbon chemical co., Ltd. Ploughed in the lithium battery industry, has rich experience, occupies the most profitable link of the lithium battery industry chain. At the same time, actively layout the whole industry chain of new energy vehicles, which is expected to achieve better growth through the future new energy vehicle downstream demand outbreak, which is worthy of long-term investment. But at present, the price of the products that contribute a great deal to the performance of the company is under pressure of price reduction. The breakout of the new energy vehicle business also took time, with a valuation view of the risk of high prices in the short term, advising investors to be cautious about trading.
【学位授予单位】：哈尔滨商业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F426.7;F406.7

【相似文献】