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论文编号：	8675
作者编号：	2120142923
上传时间：	2016/12/7 9:32:18
中文题目：	A股人工智能板块股权投资价值分析
英文题目：	The Analysis of Investment Value in A share Market of Artificial Intelligence Industry
指导老师：	王永进
中文关键字：	人工智能；投资价值；盈利能力；基本面分析
英文关键字：	artificial intelligence; investment value; profitability; fundamental analysis
中文摘要：	近年来软硬件技术的持续创新，推动人工智能行业迅速发展，A股市场也出现了人工智能板块。在A股市场众多概念板块中，人工智能板块经过几年的发展，是否具有持续稳定的投资价值，是否能带来超额收益，本文将从基本面分析角度进行阐述。为了分析板块风险和收益的匹配情况，本文选用BETA系数作为比照对象，来比较近五年来人工智能板块的风险收益情况。本文从金融的角度对实体板块的投资价值进行分析，从人工智能板块产业链上下游关系、国内外宏观环境、行业准入壁垒等基本面对该板块宏观层面进行分析，继而对板块中公司的资金环境、板块所处行业周期等方面对板块进行介绍，然后对A股人工智能板块的主要投资概念进行价值分析，并在针对概念板块重点分析一家龙头公司。最后统计了A股人工智能板块近五年的营收、利润、毛利率的变化情况，并比较了人工智能板块与沪深300指数BETA值的差别，进而对板块投资价值进行评价。经过对A股人工智能板块基本面基本面情况的解读和分析，认为人工智能板块的竞争差异化在于技术层与应用层，在核心算法领域具有优势并且深耕具体应用领域的公司将在人工智能板块竞争中获取更高的超额收益。另外，A股人工智能板块的高成长性以及略高的BETA值也反应了这些公司具有较高的长期投资价值。 (本文包含图38幅，表格12个，参考文献31篇)
英文摘要：	In recent years, the continuous innovation of hardware and software technology, has been promoting the rapid development of artificial intelligence industry. A-share market appeared in the artificial intelligence sector. This paper will analyze from the perspective of fundamentals, after several years of development of the A-share market, whether its investment value sustained and stable, whether it can bring excess returns in many of the concept of the plate, artificial intelligence sector. In order to analyze the matching of plate risk and return, this paper chooses BETA coefficient as the object of comparison to compare the risk and return of artificial intelligence in recent five years. ????This paper analyzes the investment value of the entity plate from the angle of finance, analyzes the macro-level of the plate from the upstream and downstream of the artificial intelligence industry chain, the macro environment in domestic and abroad, the industry access barrier and so on, and then analyzes the company's Capital environment, plate industry cycle in which the sector is introduced, and then the A-share artificial intelligence plate the main investment concept of value analysis, and also focuses on the concept of the plate for a leading company. At last, the statistics of the revenue, profit and gross profit rate of A-share artificial intelligence market are compared, and the difference between the AI ??and the CSI 300 index BETA value is compared, then the investment value of the plate is evaluated. ????After analyzing the basic fundamentals of the A-share artificial intelligence, it is considered that the competitive differentiation of the artificial intelligence sector lies in the technical layer and the application layer. The company with the advantage in the core algorithm field and the deep application of the specific field of application will be in the artificial intelligence sector Competition to obtain a higher excess returns. In addition, the high growth of the A-share artificial intelligence sector and slightly higher BETA values ??also reflect the high long-term investment value of these companies. (This paper contains 38 pieces, 12 tables and 31 references)
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