汽车行业上市公司价值分析
摘要：随着这几年汽车行业的发展，汽车行业渐渐的成为了社会经济的支柱产业，我国进入WTO后,各汽车公司都面临市场对产品不断提升的要求,公司为满足市场而不断降低成本所面临的许多问题,通过资本运营,快速提升公司核心竞争力是一种有效途径和方法，怎么样资本运营呢？汽车行业公司上市可以取得固定的融资渠道；得到更多的融资机会；可以募集资金以解决发展资金的短缺；还可以降低债务比例在汽车行业内扩展或跨行业发展；并且可以增加知名度和品牌形象以获得创业资本或持续发展资本。从平均水平看，我国现有汽车上市公司的经营业绩不高，而且近几年还存在下滑趋势，因而进一步优选资产质量优、经济效益好的公司上市进行价值分析对于优化上市公司结构、解除金融业发展的观念束缚，突破行业的投资壁垒，实现资源的优化配置有着重要的意义。
本文采用现金流量折现法，以上海汽车集团股份有限公司为例，通过预测企业未来自由现金流量、折现率和连续价值，得出企业的价值。与其股票价格做比较，从而为投资者提供理论性的参考。
关键词：汽车行业 上市公司 现金流量折现法 价值分析
Auto Industry Company value analysis
Abstract: As the automobile industry, auto industry has gradually become a social and economic pillar industries, China will enter WTO, auto companies will face market for products increasing demands, the company to satisfy the market and reduce costs in the face of many issues, the capital, quickly upgrade our core competitiveness is an effective ways and means of how capital? Auto Industry Company listing can be fixed channels of financing; the more financing opportunities for raising funds in order to resolve a shortage of funds; reducing debt ratio in the auto industry expansion or across sectors; and increased visibility and brand image for venture capital and the sustainable development of the capital. The average level, our existing vehicles listed companies' performance is not high, and in the past few years of decline, thus further optimizing asset quality and economic good stock value analysis to optimize the listed company structure, lifting financial industry the concept of development constraints, to break through trade and investment barriers, to optimize resource allocation is of great significance.
This article use cash flow discount to Shanghai Automobile Group Corp. For example, through the prediction companies' future free cash flow, discount rate and continuous value that the value of businesses. Its stock prices, thereby providing investors with theoretical reference.
Key words: Auto Industry Listed Companies Discounted cash flow method Value Analysis
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