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Data:2009-12-12 2:34
Through the above analysis, Jiangsu Qionghua against the price of the program should be as follows:
The results of the price estimates
The advantages and disadvantages of the value method
Benefits
Shortcomings
PE analogy
2.62 ~ 8.56
In mature markets, as empirical evidence of a reasonable price-earnings ratio is the market-based pricing means the maximum protection of the interests of circulating shares
Need for careful selection of comparable companies, with analysts to determine a reasonable price-earnings ratio of the individual tendencies
Release excess earnings method
3.49 ~ 6.33
Newly listed companies use persuasive
With analysts to determine a reasonable price-earnings ratio of the personal inclinations
Law of value-added share of non-tradable shares
5.20 ~ 6.83
The best reflects the value-added benefits of non-tradable shares tradable shareholders should be part of the principle of shared
Need to use price-earnings ratio in the measurement data of Analogy
Of non-tradable shares of the net asset pricing method
4.83
The non-tradable shares more in line with a net reduction of asset prices, the reality of off-line with the provisions of the SASAC; from analysts about individual orientation
Non-tradable shares is not a market-oriented pricing, market recognition low; the net assets of the outstanding shares of the shareholders did not distinguish between the contribution of
Conclusion: We believe, Jiangsu Qionghua right to pay a reasonable price range is 10 to send shares of 2.62 ~ 8.56.
