摘要
光伏发电企业一直以来具有政策环境不稳定、涉及主体多、交易模式复杂等特点,这给企业价值评估带来诸多困难和不确定性。本文选择近年上市公司A股份重大资产重组并购B电力有限公司案例,以真实数据整理运用收益法评估我国集中式光伏发电企业价值的思路及过程,同时对企业特征、光伏电站获利能力、价值评估关键影响因素进行总结分析,并对最新产业政策进行解读,对案例后续发展进行分析提示,为新并购浪潮中评估集中式光伏发电企业价值提供参考和借鉴。
Photovoltaic energy companies have always had the characteristics of multiple entities involved,and complex transaction models under an unstable policy environment,which have brought many difficulties and uncertainties to conduct enterprise valuation.This article selects the major mergers and acquisitions case of A share listed company acquiring B Power Co.,Ltd.this year,and uses real data to collate the ideas and processes of using income approach to appraise the value of China’s centralized photovoltaic energy enterprises.The key influencing factors are summarized and analyzed,the latest industrial policies are interpreted,and the follow-up development of the case is analyzed and prompted to provide a reference for appraising the value of centralized photovoltaic energy enterprises in the wave of new mergers and acquisitions in the market.
作者
徐翔
王来峰
黄晓梅
管伯渊
贲蕊
Xu Xiang;Wang Laifeng;Huang Xiaomei;Guan Boyuan;Ben Rui(China University of Geosciences(Wuhan),Wuhan,Hubei 430074;Beijing China Alliance Appraisal Co.,Ltd.,Beijing 100073)
出处
《中国资产评估》
2021年第7期69-80,共12页
Appraisal Journal of China
关键词
企业价值评估
关键影响因素
收益法
光伏发电企业
Enterprise Valuation
Key Influencing Factors
Income Approach
Photovoltaic Energy Enterprises
