Valuation of PV Enterprises Based on Residual Income Model--Taking Longi Green Energy as an Example

Yue Liu (), Renwei Hang () and Jiajun Zhu ()
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Yue Liu: Xiamen University Tan Kah Kee College
Renwei Hang: Xiamen University Tan Kah Kee College
Jiajun Zhu: Xiamen University Tan Kah Kee College

A chapter in Proceedings of the 4th International Conference on Internet Finance and Digital Economy (ICIFDE 2024), 2024, pp 108-125 from Springer

Abstract: Abstract Under the current background of increasing global environmental problems, the development of photovoltaic (PV) industry has increasingly attracted the attention of countries all over the world, and how to scientifically and reasonably assess the value of PV enterprises is an important issue in China’s capital market. By combining the characteristics of photovoltaic enterprises themselves, this paper chooses to adopt the residual income method as the basic model, and applies the DuPont analysis method and the mutation level method to make the corresponding model improvement in order to improve the accuracy of the valuation results. Compared with the actual value, the deviation rate is only 1.2%, which is a small error, proving that the improved model can reflect the intrinsic value of PV enterprises more accurately and provide investors with more accurate value reference.

Keywords: Photovoltaic firms; Residual income model; DuPont analysis; Mutation series method (search for similar items in EconPapers)
Date: 2024
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DOI: 10.2991/978-94-6463-534-8_11

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