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ZTE, founded in 1985, has gone through the history of 25 years. As a large-scale high-tech enterprise which has entered the first-tier world telecom equipment manufacturers, as a listed company in the domestic A-share market, known as second-line blue chip, does ZTE have any investment value? How to assess the value? These are the questions this thesis is trying to answer.The thesis first illustrates the analytical framework of Harvard Finance, including strategic analysis, accounting analysis, financial analysis, forecasting etc, and introduces the basic method of company value assessment. Then, linking theory with practice, we make the overall value assessment of ZTE, using the Harvard analytical framework and discounted free cash flow model, covering the details below,1, introduces the general information and history of ZTE, combining macro-economic situation with the development of the industry, and interprets the position and the coping strategy of ZTE at the macro and micro level.2, analyzes ZTE at the micro level, including analyzes the core competence of ZTE with strategic analysis means, the business circumstance of ZTE with financial analysis methods, forecasts the future of ZTE based on the existing analysis.3, evaluates the company value with Capital Asset Pricing Model and the discounted free cash flow model.The research will give some enlightenment to the value assessment on the telecom equipment manufacturers. The findings of it will bring benefit to the improvement of the existing operating strategy, helping the investors make the right investment decision-making.
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