GB/T 39870-2021Brand valuation—Automobile manufacturing industry (English PDF)

4.1 Model of Multi-cycle Excess Earnings Method

Multi-cycle excess earnings method-based enterprise or enterprise group brand value is calculated in accordance with Formula (1): Where, IA---the tangible assets income; ACT---the total amount of current tangible assets; betaCT---the rate of income on investment of current tangible assets; ANCT---the total amount of non-current tangible assets; betaNCT---the rate of income on investment of non-current tangible assets.

4.2 Determination of Brand Cash Flow

4.2.2.3 Return on current tangible assets

The return on current tangible assets may be calculated with reference to the short-term benchmark loan interest rate issued by the People's Bank of China, for example, the one-year bank loan benchmark interest rate.

4.2.2.4 Return on non-current tangible assets

The return on non-current tangible assets may be calculated with reference to the long-term benchmark loan interest rate issued by the People's Bank of China, for example, the five-year bank loan benchmark interest rate.

4.3 Determination of Brand Value Discount Rate

4.3.1 Brand value discount rate

The brand value discount rate shall be calculated in accordance with Formula (4): Where, R---the brand value discount rate;

Z---the industrial average rate of income on assets; k---the brand strength coefficient.

4.3.2 Industrial average rate of income on assets

The industrial average rate of income on assets may be obtained by calculating the average rate of income on assets of listed enterprises in similar industries, types and scales. Or the industrial average rate of income on assets may also be obtained through the mode of statistical survey.

5.2 Tangible Element (K1)

The tangible element may be evaluated through the perspective of market influence. Market influence includes but is not limited to:

---Domestic market;

---Overseas market;

---New energy vehicle market;

---Business conditions.

5.3 Quality Element (K2)

5.3.1 Quality management

Quality management includes but is not limited to:

---Management system;

---Management performance.

5.3.2 Quality level

Quality level includes but is not limited to:

---Product quality;

---Product quality supervision;

---Enterprise's energy conservation and environmental protection;

---Enterprise safety.

5.3.3 Quality reputation

Quality reputation includes but is not limited to:

---Quality credit;

---Quality honor.

5.4 Innovation Element (K3)

5.4.1 Innovation achievements

Innovation achievements include but are not limited to:

---New model sales;

---Brand honor;

---Brand loyalty;

---Brand awareness;

---Brand culture;

---Brand building system;

---Brand equity.

5.6 Intangible Element (K5)

5.6.2 Social responsibility

Social responsibility includes but is not limited to:

---Management mechanism;

---Public responsibility;

---Employee care;

---Social activity.

5.6.3 Compliance management

Compliance management includes but is not limited to enterprise compliance.

6.1 Clarify Value Influencing Factors

The tangible, quality, innovation, service and intangible elements of an enterprise shall be comprehensively considered, especially the influence of non-financial factors, such as: quality and innovation, on brand value.

6.2 Describe Calculated Brand

Before calculation, the brand under evaluation shall be identified, defined and described, including its product range and value range, etc.

6.3 Determine Model Parameters

In accordance with relevant national policies and regulations, and the current market economy, determine:

---The year and cycle of evaluation;