JIANGSU OCEAN UNIVERSITY本科毕业设计（论文）中药上市公司价值评估与管理研究-以同仁堂为例Study on Valuation And Management ofListed Chinese Medicine Companies --ACase Study of Tong Ren Tang学院：应用技术学院专业班级：财务管理财务4213学生姓名：冯爱辰学号：2021140005指导教师：王朋才（副教授）阎健康（高级会计师）年月毕业设计（论文）中文摘要中药上市公司价值评估与管理研究-以同仁堂为例摘要：近年来，资本市场的不断发展，企业的经营管理目标也发生了相应的改变，从最初的利润最大化逐步演变为企业价值最大化。如何评估企业价值成为我国资本市场的一个重难点，无论是对于投资者还是管理者，企业价值评估是分析和衡量企业内在价值，提供有关信息，帮助其做出正确决策和理性投资的重要手段。在我国投资市场中，医药行业一直是投资的热点，随着中医药发展规划的提出和居民养生观念的深入人心，中药行业迎来新的机遇，评估中药上市公司的企业价值显得尤为重要。本文以同仁堂为研究案例，首先对通过分析企业价值评估的方法和同仁堂的发展现状，选择自由现金流量法对同仁堂进行价值评估，构建模型计算评估企业价值，与评估基准日的收盘价进行比较，最后通过本文研究得出结论，总结不足，提供企业价值评估方面的建议。关键词：企业价值评估：自由现金流量：中药行业毕业设计（论文）外文摘要Study on Valuation and Management of listed Chinese MedicineCompanies--A case study of Tong Ren TangAbstract:In recent years,with the continuous development of the capital market,theoperation and management objectives of enterprises have changed accordingly,fromthe initial profit maximization to the enterprise value maximization.How to evaluateenterprise value has become a difficult point in Chinese capital market.Whether forinvestors or managers,enterprise value evaluation is an important means to analyzeand measure the internal value of enterprises,provide relevant information to helpthem make the right decision and rational investment.In the Chinese investmentmarket,the pharmaceutical industry has been the hot spot of investment.With thedevelopment plan of traditional Chinese medicine proposed and the residents'conceptof health,the traditional Chinese medicine industry has welcomed new opportunities.It is particularly important to evaluate the enterprise value of listed companies oftraditional Chinese medicine.This paper takes Tong Ren Tang as a case study.Firstly,it evaluates the value of Tong Ren Tang by analyzing the method of enterprise valueevaluation and the development status of Tong Ren Tang,chooses the free cash flowmethod to evaluate the value of Tong Ren Tang,builds a model to calculate the valueof the enterprise,and compares it with the closing price on the base date of evaluation.Finally,through the study of this paper,it draws a conclusion that the summary isinsufficient,and provides suggestions on enterprise value evaluation.Keywords:Enterprise value assessment;Free cash flow;Traditional Chinesemedicine industry