Investment Analysis Of Listed Companies In Growth Enterprise Market

China officially launched its Growth Enterprise Market (GEM) in the Shenzhen Stock Exchange in October 2009. GEM targets on the shares issued by Small and Medium-Sized Enterprises (SMEs) which have potential in growth and possess high-technology. GEM companies are more likely to be de-listed seeing that they are smaller in scale and riskier in investment than mid and small capital stocks. In view of the above, it is of essential reference value to establishment of a suitable value measurement system for GEM.Whereas the majority of listed companies in China's GEM come from electronic information industry, which is an essential part of China's blue print, the thesis has selected China Net Center-an information technology company listed on GEM, as the empirical analysis object, and has analyzed its investment value.This thesis is divided into five parts. PartⅠis an introduction of the background of the thesis topic and the relevant theories. PartⅡis an industry analysis, focusing on the current situation and development trend of China's information technology industry. PartⅢis a business operation analysis, which depicts the industry background, business models and profitability models of the enterprise, and provides a basic understanding of the enterprise through certain financial analysis. PartⅣis an analysis on corporate investment value, aiming to analyze the intrinsic value of the enterprise through a suitable value assessment approach and consequently come to some conclusions. PartⅤis a summary of the former parts.