中药公司投资价值分析

【作者】 黄海莹；

【导师】 劳兰珺；

【作者基本信息】 复旦大学 ， 工商管理， 2008， 硕士

【副题名】Y中药企业案例

【摘要】 随着宏观经济的高速发展,医药行业作为关乎民生健康的行业越来越受到重视,而具有我国文化特色的中药行业近些年来也是发展迅速,因为是典型的非周期性行业和政府推出一系列政策的支持,被众多投资人所关注。本文就从投资人的角度,以Y中药企业为例来分析一个典型的中药公司的投资价值,中药行业是否值得投资?投资的时候要注意哪些问题?本文先从介绍中药行业的特征入手,了解中药行业所呈现出的与其它行业不同的特征。在经济全球化的今天,全球医药行业的现状是如何的,是否直接或间接的影响着我国的医药行业,和中药行业又有着怎样的联系。中药行业的发展趋势如何。然后以Y中药企业为例,从财务表现,市场表现来分析Y企业的价值所在,并给出投资建议。财务表现主要通过纵向分析,横向分析和杜邦分析来反映Y企业的业绩;市场表现主要通过市场营销战略分析,回归分析,残差分析,SWOT分析的方式说明Y企业目前市场上的表现并建立回归模型,预测了未来三年的销售收入趋势。中药企业虽然在近些年一直持续稳定地发展,但是投资任何企业都会存在投资风险。那么投资中药企业将会面临怎样的风险,面对这样的风险,又该采取什么样的策略,会得到怎样的投资建议。本文主要通过理论分析并且结合Y企业的案例及宏观政策影响因素,探究我国中药行业的投资价值所在。更多还原

【Abstract】 With fast-paced development of the economy, more and more people starts to pay more attention to the Pharmaceutical industry, which affects a whole spectrum of issues including public health, social stability and economic growth. And Traditional Chinese Medicine Manufacturing Industry also presents the steady growth. As Non-cyclical industry and getting great support from Chinese government, Traditional Chinese Medicine Manufacturing Industry is concerned by many investors. Here Y Company, which is typical traditional Chinese Medicine Manufacture, will be taken as an example, and analysis about its investment value will be done. Is it worth investing Traditional Chinese Medicine Manufacture? What is the driving force of this industry?First of all, the characteristic of Traditional Chinese Medicine industry will be introduced, showing the difference with other industries. Under economic globalization, what is current situation and prospect of the global Pharmaceutical Industry? How about our China Pharmaceutical Industry? Does it effect on our Traditional Chinese Medicine Manufacturing industry? What is the development trend of Traditional Chinese Medicine Manufacturing industry? Then research about the case from Y Company will be done to see how to value a company. Performance of finance and marketing is going to be investigated to get the evaluation of this company and finally suggestions will be put forward.An in-depth analysis will combine horizontal analysis, vertical analysis together with DuPont Analysis, combine marketing strategic analysis together with regression analysis, Residual Analysis and SWOT analysis, combine qualitative analysis together with quantitative analysis to present the performance of Y Company from finance and marketing angles and forecast the sales income in the following 3 years.What is the risk of investing the Traditional Chinese Medicine Manufacturing industry? Suggestions on how to invest in Traditional Chinese Medicine Manufacturing industry are given here.更多还原