R 公司作为最早进入中国并在华投资的外资医疗器械的公司，经历二十多年 来的快速发展，也见证了国内医疗器械行业的兴起。面对如今百舸争流的现状， 随着国家政策的调整，医疗器械行业正处于转型发展的关键时期，原有的医疗行 业中，药品、器械、诊断试剂等等外资公司的产品都受到来自国内公司模仿和创 新的挑战，而医疗行业的发展与推动，往往又与新药、新产品的研发上市及项目 并购投资分不开，企业在追求更好发展更高利润率的同时也面临着诸多潜藏的不 确定风险，比如如何兼顾公司正常经营的现金流与负债率关系，如何面对研发成 败的不确定性，建立健全完善公司对于项目的投资评估及财务投资流程，对 R 医疗器械公司未来的发展具有重要意义，同时对行业其他公司也有很好的现实指 导意义。 本论文以 R 医疗器械公司为例，通过财务投资理论系统性梳理了 R 医疗器 械公司财务投资指标，并运用竞争对手分析法来结合评估 R 医疗器械公司投资 风险；发现目前存在财务投资目标考虑不全面、模型预测精准性、非财务指标未 纳入评估范围，财务投资权责不清，人员配合协调存在问题，投资反馈机制可借 鉴性不强等等问题。 根据行业公司投资评估的标准模式，结合财务投资的评估方法及理论。我们 提出在项目筛选阶段，基于 BP 神经网络 Python 的算法的优点对原有的财务投资 模型进行优化，有效的解决财务投资目标维度单一考虑不全面、模型预测精准性 差等问题。得到的结果再用于评估阶段辅助投资专委会进行投资决策，成立投资 专委会也有效解决之前未考虑到非财务相关指标、指标不全面等问题。在优化的 过程中，我们探索构建基于 BP 神经网络的财务投资模型同时尝试不断完善公司 内部投资制度及相关评估标准，设计建立有效的公司内部投资评估方案用于帮助 减少在投资业务各个环节的运行风险，保障公司投资权益，促进公司资产管理健 康、稳步发展，最终为医疗行业投资建立标准提供实践参考。 关键词，医疗大健康；财务投资模型；BP 神经网络；Python 算法III Abstract As the first foreign medical device company to enter China and invest in China, R company has witnessed the rise of the domestic medical device industry after 20 years of rapid development. Facing the present situation of the person, with the adjustment of national policy, medical equipment industry is in a critical period of development, transformation of the original medical industry, the drugs, devices, diagnostic reagents, and so on foreign domestic companies to the company's products are subject to the challenge of imitation and innovation, and promote the development of medical industry, often with new drugs, new product research and development of the listed and merger and acquisition investment, enterprises in the pursuit of better development of higher profit margins at the same time also facing many potential uncertainty risk, such as how to balance the company normal business relationship with the ratio of cash flow, the uncertainty of how to deal with research and development success or failure, The establishment and improvement of the company's investment evaluation and financial investment process for the project is of great significance to the future development of R medical device company, and has good practical significance to guide other companies in the industry. Taking R medical device company as an example, this paper systematically combs the financial investment index of R medical device company through the financial investment theory, and analyzes the investment risk of R medical device company by using the external macro environment analysis model. It is found that there are some problems at present, such as incomplete consideration of financial investment objectives, accurate model prediction, non-financial indicators not included in the evaluation scope, unclear powers and responsibilities of the financial investment department, problems in personnel coordination, and weak reference of investment feedback mechanism. According to the standard mode of investment evaluation of industrial companies, combined with the evaluation method and theory of financial investment. In theIV project screening stage, we propose to optimize the original financial investment model based on the advantages of BP neural network Python algorithm, so as to effectively solve the problems of incomplete consideration of the single dimension of financial investment objectives and poor accuracy of model prediction. The results obtained can be used to assist the investment committee to make investment decisions in the evaluation stage. The establishment of the investment committee can also effectively solve the problems of not considering non-financial related indicators and incomplete indicators. In the process of optimization, we explore to construct the financial investment model based on artificial neural network at the same time trying to improve the system of internal investment and related evaluation standards, hope to establish effective internal investment evaluation system is used to help reduce the investment assets business each link of the operation risk, safeguard the rights and interests of company investment, promote the healthy and steady development of asset management company. Finally, it provides practical reference for medical industry to invest and establish standards. Keywords，Medical health; Financial investment model; BP neural network ; Python algorithm目录 致谢....................................................................I 摘要...................................................................II Abstract.............................................................. III 第 1 章 绪论.............................................................1 1.1 研究背景 .......................................................... 1 1.1.1 医疗行业发展回顾与现状 ........................................1 1.1.2 医疗行业投资现状 ..............................................2 1.2 研究目的 .......................................................... 3 1.3 研究意义 .......................................................... 4 1.3.1 理论意义 ......................................................4 1.3.2 实践意义 ......................................................5 1.4 国内外文献综述 .................................................... 6 1.4.1 国外投资研究综述 ..............................................6 1.4.2 国内投资研究综述 ..............................................8 1.4.3 文献综述小结 ..................................................9 1.5 研究内容与研究方法 ............................................... 10 1.5.1 研究内容 .....................................................10 1.5.2 研究思路与方法 ...............................................11 1.6 本文创新点 ....................................................... 12 第 2 章 财务投资相关理论研究............................................15 2.1 财务投资理论概述 ................................................. 15 2.1.1 财务投资目标 .................................................15 2.1.2 财务模型评估方法与分析 .......................................16 2.1.3 财务投资模型优化理论 .........................................17 2.2 BP 神经网络理论 .................................................. 18 2.2.1 BP 神经网络原理 ..............................................18 2.2.2 BP 神经网络模型应用 ..........................................18 第 3 章 R 医疗器械公司经营环境分析 ......................................213.1 R 医疗器械公司背景介绍 ........................................... 21 3.1.1 R 公司在华投资概述 ...........................................22 3.1.2 R 公司创新投资基金的诞生 .....................................23 3.2 竞争对手分析 ..................................................... 23 3.3 公司外部环境因素分析 ............................................. 25 3.3.1 政治环境因素 .................................................26 3.3.2 经济环境因素 .................................................28 3.3.3 社会环境因素 .................................................30 3.3.4 科技环境因素 .................................................32 3.3.5 外部环境分析结论 .............................................33 第 4 章 R 公司投资模型现状及存在问题 ....................................34 4.1 R 公司现行财务投资模型 ........................................... 34 4.2 R 公司现行