如何理解财务会计信息和资产评估价格的决策相关性,如何进行企业估值,并以此推进价值管理和实现有价值的资本流动需要企业的系统思考和运筹帷幄。本文以华润总公司打包出售子公司股权案例为基础,阐明现代企业尤其是国企进行价值评估、资本经营的基本取向与具体路径。 How to understand the decision-making relevance between the financial accounting information and the asset valuation price, how to carry on the enterprise valuation and promote the value management and realize the valuable capital flow needs the systematic thought and tactics of the enterprise. This article, based on the case of Huarun Corporation packing and selling subsidiary equity, clarifies the basic orientation and specific path of modern enterprises, especially state-owned enterprises, in value assessment and capital management.