投资银行面试必备资料美林的行业分析框架

1、投资银行面试必备资料美林的行业分析框架2/23/20221Total Market Size and PerformanceNo. of Players / Total Production CapacityUnit Price / Units SoldIndustry Primer Market OverviewBreak down to province / region and subsector as appropriateInclude as much detail as appropriate / possible Footnote all your sources!_Source

2、: Data to comeData to comeData to come2/23/20222Industry Primer Key Industry CharacteristicsFragmented marketState-ownershipImport or export drivenSegmentation of market spaceInnovation driven ?Cyclical ?Demographic-drivenProtected sectorLow penetrationLacking certain expertiseScale-playBrand-driven

3、High barrier of entryHigh R&DRecent DevelopmentsIntroduction of certain technologyOpening of certain marketsCutting import tariffRely on news run, industry sector reports, discussions in company annual reports2/23/20223Industry Primer Key Industry TrendsCertain product type popularPrice cutsInte

4、nsifying competitionMargin compressionCoupled with financing electronics for exampleDomestic consolidationDiversification of customer baseInter-provincial expansionDeclining import tariffGovernments stance and positionFunding more private sector capitalShift in distribution channelRely on news run,

5、industry sector reports, discussions in company annual reports2/23/20224Industry Primer Key DriversStrong overall economic performanceInfrastructure expansionIncreasing consumer awarenessIncrease in construction workIncrease in disposal incomeTie back to the Industry Characteristics and Trends_Sourc

6、e: Driver 1Driver 2Driver 3Driver 4Source: Industry reports, equity research on profiled companies2/23/20225Key Players and Market ShareIndustry Primer Competitive Landscape_Source: List key domestic or foreign players and respective market shareSource: Industry reports, equity research on profiled

7、companies, news runs2/23/20226Industry Primer Regulatory EnvironmentKey Regulations and Licensing RequirementsForeign Ownership RestrictionsCurrent situationWTO commitmentsFavorable treatment for HK companies?Distribution? Manufacturing? Marketing?Investment restrictionsKey Regulatory AgenciesReleva

8、nt Tax RegulationsFavorable tax treatment for operation in certain region To come_Source: Source: Industry reports, equity research on profiled companies, news runs; lawyers websites2/23/2022Overview of Multinationals Presence7Industry Primer Foreign Participation to dateMarket Share Breakdown Year?

9、UNDER NO CIRCUMSTANCES SHOULD YOU CONTACT THE REGIONAL RMs_Source: Source: Industry reports, equity research on profiled companies, news runs; SDC M&A runs2/23/20228Cross-Bordered M&ADomestic M&AM&A Activity to DateIndustry Primer _Source: Key Transactions_(#) represent no. of deals_

10、(#) represent no. of deals(10)(10)(10)(10)(10)(10)(10)(10)(10)(10)(10)(10)Date Acquiror / Target Transaction Value Multiple Paid Comments to cometo comeSizable, notable transactionsSource: SDC M&A runs and news runs2/23/20229Ranking by ROARanking by ROESummary of PlayersIndustry Primer _Source:

11、to cometo comeSource: SDC M&A runs and news runsRanking by Valuation Ranking by EBITDA Marginto comeEV/EBITDA or P/E or P/B2/23/202210Company Profile - Stock Market PerformanceRecent DevelopmentsBusiness OverviewKey ManagementIndustry Primer To comeNo. of employeesGeographic coverageProduct rangeRevenue breakdownKey brandsKey strategy_Source: 2/23/202211Key Operating MetricsSWOT AnalysisFinancial OverviewOwners