by Kan Yat Cho Joe. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1998. / Includes bibliographical references (leaf 82). / abstracts --- p.ii / table of contents --- p.iii / LIST OF ILLUSTRATIONS --- p.v / LIST OF TABLES --- p.vi / ACKNOWLEDGEMENTS --- p.viii / Chapter / Chapter 1 --- introduction --- p.1 / Objective of Financial Statements --- p.1 / Users of Financial Statements --- p.2 / Chapter 2 --- METHODOLOGY OF STUDY --- p.5 / Selection Criteria --- p.5 / Analysis Approach --- p.7 / Results of Search for Target Company --- p.8 / Chapter 3 --- COMPANY BACKGROUND --- p.10 / Company History --- p.10 / Production Process --- p.12 / Company Structure --- p.14 / Operational Structure --- p.15 / Principal Products --- p.16 / Market Geography --- p.18 / Chapter 4 --- MARCO-ANALYSIS / The PRC Economy --- p.20 / The Steel Industry --- p.23 / Chapter 5 --- MICHAEL PORTER'S FIVE FORCES --- p.26 / Present Competition --- p.26 / Threat of New Entrants --- p.27 / Substitute Products --- p.28 / Bargaining Power of Suppliers --- p.28 / Bargaining Power of Customers --- p.29 / Chapter 6 --- RISK FACTORS / Risk Associated with the PRC --- p.30 / Risk Associated with the Steel Industry --- p.31 / Risk Associated with Magang --- p.32 / Chapter 7 --- FINANCIAL ANALYSIS / Evaluation of Accounting Policies --- p.34 / Adjustments to Financial Statements --- p.35 / Financial Ratio Analysis --- p.44 / Chapter 8 --- VALUATION / Calculation of Discount Rate --- p.58 / Asset and Liability Based Value --- p.61 / Price Earning Multiple --- p.64 / Dividend Growth Model --- p.66 / Discount Cashflow Model --- p.68 / Summary --- p.68 / Chapter 9 --- LIMITATION TO STUDY --- p.70 / Lack of Comprehensive and Accurate Data --- p.70 / Lack of Peer Data --- p.71 / Limited Listing Period --- p.71 / APPENDIX --- p.73 / BIBLIOGRAPHY --- p.82