2023年标普全球市场财智公司估值挑战赛已正式结束。经过我们评选委员会的认真评选，在此公示获取此次比赛前三名及优秀奖获得队伍。

一等奖

参赛队伍名称：Valuation Vanguards

参赛队员：杨培兴、徐碧远、裴欣昊、王家蔚

学校：复旦大学

评委点评：

• Detailed analysis of the Internet industry, including its size, growth trends, and competitive landscape, as well as key factors that are driving the growth of the Internet industry and the challenges that companies in this industry face were all addressed.
• The assumptions that were made in the DCF valuation and the risks associated with the valuation were addressed well. The essay also compares Tencent to its peers in the internet industry and provides a valuation range based on these comparisons.
• The report provides the clearest and most concise explanation of the valuation methods that were used and the assumptions that were made.
• In addition, the report is well-written and easy to understand. It is organized in a logical manner and the information is presented in a clear manner. The addition of effective graphs and tables to illustrate the key points, including a well-defined representation of the Tencent ecosystem makes it easy for the reader to understand the information presented.

二等奖

参赛队伍名称：Baldman

参赛队员：Yunke Wang, Yantao Wang, Zhengyi Fu, Quan Gan, Yuyuan Yuan

学校： 复旦大学

评委点评：

• Baldman has a good understanding of Meituan's commission/fee structure.
• Nice visualization of valuation analysis using the Football Field.
• Some careless errors exist, including incorrect date ordering (years out of order), and "leisure & travel" mislabeled as "liquor & travel".
• The report could provide more information on Meituan's growth prospects, such as the company's plans for expansion into new markets, its product development roadmap, and its expected growth rates.
• Within Relative Valuation analysis, the report could provide more information on the reasons why Meituan is trading at a premium or discount to its peers. For example, it could discuss the company's stronger brand, its larger market share, and its superior financial performance. The report could also discuss the company's weaker financial position, its higher debt levels, and its greater exposure to regulatory risks.

参赛队伍名称：SUFE First Ville Trust

参赛队员：陈凯、吕欣然、潘誉文、何煜翔、徐周子馨

学校： 上海财经大学

评委点评：

• Good understanding of Meituan's fee structure.
• Overall, the essay provides a good overview of Meituan and its valuation. Visualizations are lively, effective, and varied to demonstrate the power of S&P data.
• The report could be improved by providing more details on the company's growth strategy, competitive advantages, and challenges facing the company in its industry. The report could also be improved by providing more detail on the sensitivity of the valuation to different assumptions.

三等奖

参赛队伍名称：Valuation Voyagers

参赛队员：时盛文、张育硕、金岳霖、林慧琦、沈逸菲

学校：上海财经大学

参赛队伍名称：Explorer

参赛队员：Yiling Qian, Xiang Si, Yiwen Xu, Chen Luo, Yue Ying

学校：复旦大学

参赛队伍名称：SUSWACC

参赛队员：唐千婷、麦倬睿、 魏华珅、 吉丽丝、易紫璇 

学校：南方科技大学

参赛队伍名称：Predator

参赛队员：席阳、刘登翰、段昱帆、秦翰

学校：对外经济贸易大学

参赛队伍名称：South North Alliance

参赛队员：王安、左佑、王墨潼、郑雯予、李丹瑶

学校：中央财经大学

评委点评：

• The group of third-place award winners are of high quality and deserve honorable mention for their achievements.
• Overall, the reports could be improved by being more concise, providing more analysis of the companies' competitive advantages and challenges, and providing more color on the companies' financial performance.

优秀奖 （排名不分先后）

S&P Global Market Intelligence.

March 10, 2019 | 1 PM - 2 PM PT

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March 10, 2019 | 1 PM - 2 PM PT