How does the acquisition company evaluate the price?

Legal analysis: Enterprise value evaluation refers to the behavior and process that asset appraisers analyze, estimate and express professional opinions on the overall value of the enterprise, the value of all shareholders' equity or the value of some shareholders' equity under specific purposes according to relevant laws, regulations and asset evaluation criteria.

We mainly consider four factors when evaluating M&A goals.

The first is comparability, that is, the price of the same industry in the past, you should have a market price in mind; What is the PE multiple of listed companies in the same industry? There is also the cap price of IPO, and the cap price of small and medium-sized board, growth enterprise market and main board is about 23 times.

The second is growth. It is necessary to evaluate its industry status, enterprise scale, products and technologies, advanced services, sustainability, profit growth rate and team stability, all of which are comprehensive considerations for evaluating its value.

The third is the technical method of valuation, that is, what kind of evaluation means are used for evaluation. At present, there are only a few evaluation methods approved by the CSRC or the Ministry of Finance, but what these evaluation methods get is basically not the transaction price, but the transaction price is cut out.

The fourth is the mode of payment, which also affects the valuation. The way to deposit cash should be underestimated, and no one can take out too much cash at once; The way of stock can be valued higher, and high valuation can be slowly digested by future performance; There are also many ways of combination, some are shares, some are debts, some are shares plus debts, some are debts plus shares, and some are payable and convertible debts.

Legal basis: Article 179 of the Company Law states that if a company is merged or divided and its registered items change, it shall register the change with the company registration authority according to law; If the company is dissolved, it shall go through the cancellation of registration according to law; Where a new company is established, it shall be registered in accordance with the law.

Where a company increases or decreases its registered capital, it shall register the change with the company registration authority according to law.