The special evaluation is: the appraisal system with China characteristics.

"China Characteristic Valuation System": "Valuation system includes DCF, FCFF, EVA, etc. Its core lies in profitability, dividend, risk-free interest rate and risk premium.

China's characteristic valuation system is the localization of overseas mature valuation systems. Exploring the construction of China's characteristic valuation system is not to completely overthrow the valuation methods of overseas mature markets, but to incorporate the influencing factors of "China characteristics" on the basis of following the "general laws of capital markets", so as to improve the adaptability of the valuation system to China's capital market, make the valuation reflect the real value of listed companies more accurately and reasonably, and give full play to the "barometer" and resource allocation functions of the capital market. Therefore, before constructing China's characteristic valuation system, we should "deeply study the applicable scenarios of mature market valuation theory and grasp the valuation logic of different types of listed companies".