What does investor evaluation mean?

Question 1: How should the shares and wages of project co-investors be distributed? There are many types of project cooperation investments, such as capital investment, technology shares, human resources shares, etc. The shares of the project cooperation investors you mentioned must involve the part of the people, property and materials provided by the other party. Of course, there are also projects that use land and people. , there are many types of cooperation.

As for how the shares are distributed, it will naturally be based on the proportion of the people and property contributed by each party. This will involve technical evaluation, reputation evaluation, land evaluation, etc. If we simply use funds to cooperate with each other, what will happen? Naturally, a lot of evaluation steps are omitted, and only the input balance ratio is used to determine it. As for wages, I understand that you mean there are two types of things. The first is how the wages paid to workers will be divided between the two parties after your joint investment. The second is how the income of each party will be distributed after your cooperation. In fact, both the first and second types are given according to the cooperation investment ratio, so the allocation ratio of investment is completely determined by the investment ratio.

I hope the above review will be helpful to you

Question 2: What are the criteria for investors to select investments? This depends on what kind of investor you are asking. If it is a natural person investor, it depends on his personal likes and dislikes and his understanding of your industry. Such natural persons include relatives, friends, or business friends, or they can also be unrelated people who have too much money to spend, etc. If it is angel investment, it mainly depends on the project prospects, market space, product cycle, and technical core. and management teams. Investment companies like this mainly invest in the early stage of the project, and the investment amount is not large. Venture capital is more complicated and can be divided into many types, including early stage involvement, mid-term involvement, or late-stage IPO involvement, as well as There are short-term and long-term investment companies, some specialize in industry investment, some only do infrastructure construction, "iron public foundation", etc., but these investment companies all have the same characteristics, with huge investment amounts. , long-term cooperation, and will bring management and operation help to your company, but those who are not familiar with their industry will not enter, projects that are not recommended by acquaintances will not be invested, and they will only invest in the top 5 companies in the industry, etc. Unless your project is very mature, your team is excellent, you are already making money, you have a certain amount of cash flow, and although you are not in the top five in the industry but your development potential is much greater than the current companies, you can attract their investment. Investment companies have a complete set of industry assessment and risk assessment systems. For them, projects and products are only secondary. No matter what industry, there will be competition and imitation. This is inevitable. Your development plan and the talents in your management team are What matters most to them. However, investment companies in the south are basically full of scammers. For example, those in Shenzhen and Guangzhou are not very good. Domestic investment banks are all in the side, grabbing a lot of hot money from listed companies, and only doing short-term profits. , your company must have a certain scale, the product must be very mature, have a certain market share, etc. The private equity funds of investment banks with an international background are relatively large, have backers, and have sufficient cash. They invest in the sustainability and long-term returns of the project, so the amount of each investment is large

Question 3: Enterprises How to evaluate value when financing? If a company wants to raise funds, it is actually a transaction, which is a process of selling part of the company's shares. If a company wants to raise funds, it is actually a transaction, which is a process of selling part of the company's shares. Since it is a sale, it involves a price issue. Just like when you are buying and selling in a vegetable market, you are the seller, and the buyer either doesn't like you. After taking a fancy to your company, the first thing to negotiate is the price. Price is always an important aspect that affects the investment decisions of venture capitalists. Price is also the best carrier to reflect the value of a startup. Whether a company has growth potential and market space, you can know its basic value by looking at its private placement price. As we all know, in political economics, prices fluctuate around value. In a perfectly competitive market environment and information symmetry, the financing price of an enterprise basically represents the true value of the enterprise. Therefore, ordinary investors After making an investment, price is the highest factor of confidentiality.

When entrepreneurs want to raise funds, company valuation is also one of the most important tasks. Many entrepreneurs know nothing about this. Square Venture Capital has also encountered such problems in this regard. Entrepreneurs always say "I" How much money should be raised and how many shares should be sold. At this time, I usually ask him what the valuation is and how he calculated the number of shares to be sold. But it's a pity that nine out of ten entrepreneurs can't answer it, haha. However, as long as I give him the solution to a linear equation of one variable, he usually understands it. This is not a problem of number calculation, but of entrepreneurs not knowing much about business valuation issues. So how to evaluate the value of financing enterprises? In fact, this is not a fixed question. For enterprise value, it generally includes two aspects. One is the static value of the enterprise. The net value can be seen clearly by looking at the balance sheet. Total assets Just subtract the total liabilities, and the net position is only related to its historical profits. However, the value in this aspect is only the price at a point in time reflected by the fundamentals of the company, because the balance sheet is only a price at a point in time, and the operation of the company is sustainable, so the largest aspect of the company's value should be the company's Dynamic value refers to the present value of the value that a company may earn in the future. We usually say that a company is valuable, which means that it will be valuable in the future. Just like Google, its market capitalization has exceeded 130 billion U.S. dollars, but its profit in 2007 was approximately more than 4 billion U.S. dollars. In comparison, its price-earnings ratio is so high that it is really scary. Why does it only earn 4 billion U.S. dollars every year? The value of the company is worth 100 billion? The reason is that the capital market is very optimistic about its potential future profitability, which shows that Google still has long-term sustainable development capabilities. When investors evaluate the value of a company, they generally base their assessment on the company's profits. From a micro-operation level, there are generally two ways: one is to evaluate the company based on its actual profits in the previous year, and based on the actual profits obtained by the company. The profit amount is used to average the pre-investment valuation of the company; the other is based on the possible future profits of the company. Many TMT projects currently have no profit and will only have it in a few years. In this case, is there no value? What? Otherwise. At this time, the possible future profits of the company can be used to evaluate, but there is an issue of average future profits, but this will bring about the problem of a gambling agreement. This is where many companies end up with problems. After all, the internal equity of the company is not Stability is a major issue involving the foundation of an enterprise. In addition, if there is a foreign company that has IPO'd, it can also be evaluated based on the discount on the market value of similar foreign companies. Of course, it can also be evaluated based on the target market size faced by the company. In the process of evaluating corporate value, industry average profit margins and profit levels are also key factors. The higher the financing price of a company is not the better, because except for real pre-IPO projects, the higher the financing price of this round, the greater the pressure in the next round and the greater the difficulty of financing, so the price must be It must be reasonable. If it is too high, no one will invest in you in the next round. The reason is very simple: investors all want to make money. There is always a gap of several times between the two rounds. Besides, the price-to-earnings ratio of the public capital market is only that many times. If the PE is too high, it will only make the company grow unhealthy and the entrepreneurial team will be more stressed. Both corporate strategies and tactics can go wrong. The current market valuation is not very rational. The valuation of enterprises by venture investors is also affected by many major environments. For example, because the TMT industry is not favored in the short term, investors generally give low PEs, and for financing In the private equity market with an amount exceeding US$10 million, competition among investors in the market is fierce...gt;gt;

Question 4: What are the requirements for preparing a feasibility study report and evaluating a feasibility study report? What's different? From my experience in the preparation and evaluation of feasibility studies, the preparation of feasibility study defendants is to discuss the necessity and feasibility of a certain project construction from two aspects: technical and economic benefits. It is hoped that the state, banks and other units can support project construction and provide financial support in the future.

As for the evaluation of the feasibility study report, another unrelated consulting agency or design institute, from an impartial standpoint, evaluates whether the report is prepared in a standardized manner and whether there are any missing items? Does it comply with national industrial policies and regional planning? Are the values ??of technical and economic data scientific and reasonable? Including the rationality of the overall layout, the rationality of equipment selection, and even the rationality of the process flow, and finally evaluate whether the market prospects, sales price and cost values ??are reasonable? And review the correctness of the preparation of the feasibility study respondent from both static and dynamic aspects, and then draw the final evaluation conclusion on the project itself and the report preparation situation, and provide it to the entrusting unit or decision-making department.

Therefore, the biggest difference between the two is that the defendant prepared the report written by the construction unit itself or entrusted the design institute to write it in order to illustrate the feasibility of the project and give investors or investors confidence; but the evaluation report, It is necessary for a specialized consulting agency or a qualified design institute or an expert committee to make an objective evaluation of this feasibility study report. To write an "evaluation report".

Question 5: Introduction to investors The investment and financing community explains how to attract more investors. In recent years, the investment promotion work of local government agencies in our country has flourished. From provinces and cities to counties and towns to development zones in various places, they can be described as mushrooms after a rain. It is conceivable that government leaders and functional departments at all levels in our country have fully realized the importance of this work in revitalizing the local economy. However, during the investigation of some departments and personnel engaged in investment promotion work, it was found that this work is difficult and the success rate is low. After preliminary analysis, it was found that some problems lie in the content, form and release channels of investment documents. . For example, in some documents, it is obvious that various investment documents are designed and created according to the situation or leadership intentions, and their investment content is consistent with regional economic development. They also lack the connotation of understanding international business norms and focusing on the introduction of foreign investment. From the analysis of the phenomenon of investment promotion work, it can be seen that investment promotion documents are in English or can be published through English web pages or websites, and attract foreign investment in this way, accounting for 19.43 of the total statistics. Even so, there are still 61.13 documents that do not contain real investment promotion content, some even have little introduction to the investment environment, and the introduction of investment projects is unattractive. Such investment promotion cannot attract the attention of domestic and foreign investors, let alone mutual communication and intention negotiation. Analyzing the current status of investment promotion work in various places, there are roughly the following problems: 1. Some investment promotion materials have not been updated for a long time, and such investment promotion documents cannot attract the attention of investors. 2. The investment promotion websites of some *** departments do not have e-commerce mailboxes, making it impossible to integrate information with investors. 3. Many provincial and municipal investment promotion agencies or sponsors may have lost their patience because the investment promotion work has not brought them any economic benefits for a long time. It is also common for the investment promotion contact phone number to be unanswered and the e-mail address to be empty. As a result, many people have been missed. opportunity. 4. The released investment project information is extremely simple, and the content and format of its project preparation are basically very different from the format of international investment project documents, and it is impossible to see its reliability. 5. Some *** investment documents are entrusted to local enterprises or published by non-*** websites. Many investment departments thought that by doing so, the world would get to know them. When they saw the projects they released, they hoped that investors would take the initiative to contact them. Contact them. People don’t know that the purpose of these companies and websites that provide technical assistance is to produce documents for local investment promotion departments and publish investment information online to obtain certain economic benefits, without caring about the process or results. In particular, some companies will use other methods that are inappropriate. The proper mentality is to cut off the connection between the outside world and the local government. The investment promotion department of the local government must attach great importance to this issue. 6. There are too many and too large photos of *** officials or pictures that have nothing to do with investment promotion in investment documents, which can easily give people the impression of being exaggerated and not pragmatic. 7. The English version of investment documents is indispensable. The so-called "foreign language version" investment documents are intended to convey project information to merchants around the world who are willing to invest in China through internationally accepted texts, and to convey information about cooperation with the outside world.

The United States has now become China's largest source of foreign investment for three consecutive years. The cumulative number of U.S. investment projects in China has reached nearly 36,000, with a contracted U.S. capital amount of 75.26 billion U.S. dollars and an actual U.S. investment of 38.36 billion U.S. dollars. The United States has been China's largest source of foreign investment for three consecutive years and is expected to maintain this position this year. If there is no English in the investment documents, how can we attract investors from the United States? Mr. He Weiwen, former Commercial Counselor of the Chinese Consulate General in New York, pointed out: "The main thing that attracts American investors is not how beautiful a city is or how favorable its policies are, but that there are projects he needs there. Therefore, they do not target cities, but industries. and category as the object, and the project as the target. In this case, only those project materials that are complete and comply with international standards will be viewed by potential investors. For this reason, ***'s investment promotion department is preparing investment documents ( (Chinese and English), the key points must be highlighted in the content combination: "Four Introductions and One Special" means introducing the investment environment of the region; introducing foreign enterprises that have invested in the region; introducing the resources and advantages of the region; introducing the region's market; launch a professionally processed project investment introduction. For example: Investment projects should publish the following content: (Introduction content must be locked within three to five pages) 1. Brief introduction to the project background (indicate the project location and contact person). , e-mail, fax, telephone) 2. Introduction to the project executor (including experience, experience, education) 3. Introduction to the project content (indicate the industry to which the project belongs) 4. The project has its own...gt; gt;

Question 6: An investor wants to inject funds into a website. How to test and evaluate the website to ensure the safety and return of the investment. First, the website you invest in must be legal. The first two are the financial status and operating status of the company. Determine the safety and rate of return.

Question 7: What does investment outsourcing mean? Doing a good job in investment promotion is a very complicated matter, involving the integration of internal and external resources of the enterprise, and is not an investment department. Or the development department can solve it. Enterprises must analyze and understand dealers from the perspective of systematic thinking, so that they can do a better job in channel work. But only when the channels are stable can they truly dominate the terminal and the domestic market! Relying on investment companies to do such heavy and professional work often encounters problems such as too high costs or insufficient professionalism. Therefore, there are already some professional investment service agencies on the market, such as Guangzhou Investment Promotion, which pays based on investment results. Kuaiche Network Service Outsourcing Co., Ltd. is one of the most representative ones. China Merchants Express provides "comprehensive one-stop" services from super consulting, advertising, promotion, execution, and contract signing. Through professional project evaluation, planning, and packaging before investment, we build The unique "quick investment model" allows high-quality investment projects to have the gene of "overnight success", creating the possibility of large-scale replication in a short time; through the release and transmission of massive investment information during the investment process, it quickly triggers "intended investors" Attention and interest create value-added and amplified effects in the value chain, triggering "new products or services of the investment brand = real new business opportunities = new discoveries of sustainable wealth in the future" through the efficient information processing of the professional team during the investment execution process. , accurately grasp the links of in-depth communication, invitations, and accompanying inspections with key customers, and quickly help investment customers develop target investors and dealers in batches.

Question 8: What are the indicators for evaluating hotel operating performance? How to calculate? Hotel Operation Metrics

How is a hotel's operating performance measured? A commonly used standard in China's domestic hotel industry is to look at the hotel's room occupancy rate. In the European and American hotel industry, hotel operators, hotel investors and hotel investment analysts are generally accustomed to using the concept of RevPar (Revenue Per Available Room) as a measure and analysis of their hotel operating performance. the basis of.

RevPar, a measure commonly used by the international hotel industry, reflects the room revenue generated on a per room basis and therefore can measure the success of hotel room inventory management. It is undeniable that the goal of hotel managers is to maximize RevPar by increasing the room occupancy rate and average room price, because room revenue does account for a large proportion of the total revenue of hotel operations. Generally speaking, 50-65% of the total revenue of a three-star or above hotel that provides full-service services comes from guest rooms. In budget hotels or long-stay hotels with limited ancillary service facilities (mainly catering services), up to 90% of the revenue comes from guest rooms.

Compared with RevPar, it is unscientific in a sense that China's hotel industry uses room occupancy rate as a standard to measure hotel operating performance. Especially for those hotels that compete with low prices in order to pursue high occupancy rates, the room occupancy rate cannot explain the problem at all. Although RevPar is recognized by the international hotel industry as the most commonly used measure of operating performance and can provide general market trends and some revenue indices, there are some things worth noting when analyzing a hotel's operating performance based solely on RevPar. shortcomings. Therefore, some international experts have also proposed a performance measurement concept that can make up for the shortcomings of RevPar, namely: GopPar.

1. Calculation of RevPar

RevPar can be calculated by dividing a hotel’s net room revenue (i.e., the revenue after deducting discounts, sales tax, etc.) by the rooms available for rent. The total can also be calculated by multiplying a hotel's average daily rate (ADR) by its room occupancy rate. The specific formula is as follows:

Total room revenue ÷ total number of rooms ÷ number of days per year = RevPar

For example: 2,555,000÷100÷365=70 yuan RevPar

Or:

Average daily room rate (ADR) Some shortcomings of RevPar in measuring hotel operating performance

Revenue mix: As we all know, hotel room revenue sometimes does not exceed 50 to 55% of the hotel's total revenue. This mainly involves hotels with large catering operations and conference and exhibition businesses. In this case, RevPar reflects only one portion of a hotel's revenue performance, without taking into account all other revenue sources. This results in an inaccurate analysis when comparing hotel performance. For example, the average room price of hotel A is 70 yuan, the room occupancy rate is 70, and the total number of rooms is 100. The operating income of other departments of the hotel (including catering and other operating income) is 500,000 yuan. On the other hand, assume that the scale and average room rate of Hotel B are the same as Hotel A, but the room occupancy rate is only 60, and the income of other departments has reached 1,000,000 yuan. Although Hotel A's RevPar is about 15 yuan higher than Hotel B's (49 yuan vs. 42 yuan), Hotel B's total revenue is higher than Hotel A's. If the direct expenses of two hotels are similar (for example: 35% of total revenue), and the headcount of the two hotels is the same, although the RevPar of hotel B is not very ideal, it will ultimately make more money than hotel A. .

Scale: The RevPar measurement method is detrimental to large hotels when compared to smaller hotels. Common sense dictates that a hotel with only 100 rooms is more likely to achieve higher occupancy rates than a hotel with 200 rooms, especially when there are seasonal peaks and valleys. In this case, under the same market conditions, the RevPar of a large hotel may be lower than the RevPar of a small hotel. Therefore, hotel managers and investors need to consider the size of a hotel when comparing its RevPar performance with other hotels.

5. Be familiar with various background information, including: First, clarify the identity of the investor. Is it an individual, a business, or an investment company? The full Chinese name of the company; if it is a multinational investment company, please also indicate the English names of the head office and offices. Before cooperation, please ask the other party to provide relevant legal documents such as business license, investment authorization certificate, investment qualification certificate, etc.; and whether the investor has...gt;gt;