不良资产处置是金融制度体系的重要组成之一，是有效防范金融风险、确保金融领域健康稳定发展的重要基础。我国不良资产处置经历了由行政主导阶段向市场化改革的发展历程，在不良资产估值定价方面进行了深入探索，为金融领域的稳定发展提供了重要参考。近些年来，随着我国市场经济的快速发展，国内的大部分企业生产运营规模得到进一步的扩大，在一定程度上也加大了违约的风险。在目前经济稳中求进的条件下，民营企业的发展也面临着许多阻力。目前，在一部分的领域和地区的机构中，由于不良贷款的问题而造成的隐患已经逐步显现出来。对于我国的各大金融企业来说，解决不良资产的处置是其发展的重中之重。而在进行不良资产处置时，如何准确评估资产的价值是一项重要的内容。本文首先分析了我国不良资产所处的市场环境，随着市场经济的逐步发展，我国不良资产随之增加，因此通过合理方式确定不良资产估值定价具有重要意义，同时介绍了不良资产的估值定价方法，详细分析了不同方法的适用性和局限性。其次，在分析了资产回收率法优势基础上，分析了华融资产管理公司的1424个不良债务样本数据，详细挖掘了不良资产估值影响的6个因素。在此基础上，建立了不良资产的回收率法模型，分析了理论应用和定价思路。最后，以华融资产管理公司处理东昌机械有限公司的不良资产为例，利用资产回收率法进行了分析计算，证实了方法的可行性。本文最主要的贡献在于，如何从资产管理公司的角度去思考不良债权资产估值对于资产管理公司的意义，并讨论了资产回收率法在华融资产管理公司的大范围不良债权资产收购以及处置的过程中的应用。在对资产回收率法应用的过程中，对不良资产的影响因素进行了较为全面的探讨，讨论了资产管理公司在进行不良资产评估时建立适用于华融资产管理公司近一年内可行的不良债权资产回收率预测模型的可行性以及适用性。我相信，此项研究不仅对资产回收率法在资产管理公司中的推行有现实意义，同时也对商业银行不良资产的处置有着重要参考价值。

The disposal of non-performing assets is one of the important components of the financial system and an important basis for effectively preventing financial risks and ensuring the healthy and stable development of the financial sector. The treatment of non-performing assets in China has experienced the development process from the administrative leading stage to the market-oriented reform. It provides an important reference for the stable development of the financial field.In recent years, with the rapid growth of China's market economy, the production and operation scale of most domestic enterprises has been further expanded, which also increases the risk of default to some extent. In the current economic seek improvement in stability conditions, the development of private enterprises are also facing many obstacles. At present, in some areas and regional institutions, due to the problem of non-performing loans caused by the hidden trouble has gradually emerged. For China's major financial enterprises, the disposal of non-performing assets is the priority of their development. How to accurately evaluate the value of assets is an important content in the disposal of non-performing assets.This paper firstly analyzes the market environment of non-performing assets in China. With the development of the market economy, the non-performing assets increase. Therefore, it is of great significance to determine the valuation and pricing of non-performing assets in a reasonable way. At the same time, the valuation and pricing methods of non-performing assets are introduced, and the applicability and limitations of different methods are analyzed in detail. Secondly, on the basis of analyzing the advantages of asset recovery method, this paper analyzes a sample of 1424 non-performing assets of Huarong Asset Management, and explores six factors influencing the valuation of non-performing assets in detail. On this basis, the recovery method model of non-performing assets is established, and the theoretical application and pricing ideas are analyzed. Finally, taking Huarong Asset Management as an example to deal with the non-performing assets of Dongchang Machinery Co.The main contribution of this paper is to make a comprehensive discussion on the factors affecting the recovery rate by using the large-scale non-performing asset data samples set by Huarong Asset Management, and establish a single-person recovery rate prediction model, and use the model to influence the factors. The contribution was analyzed. I believe that the establishment of the forecasting model not only has practical value for asset management companies, but also has important reference value for the disposal of non-performing assets of commercial banks.