The Research On Chi Next’s Growth From Financial Viewpoint

In30October2009, the first batch of28companies in Shen Zhen StockExchange were being listed, and China’s second board (ChiNext) was alsoofficially being launched, which marked with more than10years’ preparation, itbegan to ascend the historical stage of Chinese capital market. ChiNext is mainlyworking for providing financial services for small and medium enterprises which isin growth, entrepreneurship period and is just began to have a certain scale andprofitability, having characteristics in technical innovation, management modeinnovation, at the same time working for business and private equity capital tocreate effective exit channel, the establishment of the ChiNext is an importantmeasure on constructing multifunction of capital market in our country, but also isan important content on the strategy of “improving the capability of independentinnovation, building an innovation-oriented country”.This paper firstly to extract of the research achievements about enterprisegrowth theory and evaluation on domestic and international. Then it introduces thedevelopment history of the ChiNext, the features and the credits for Chineseeconomic development. It also describes the current situation of the development ofthe ChiNext from industry sectors, geographical space, issuing price, fund raisingand other aspects. Based on the financial perspective, selects twenty-tworepresentative indices on the profitability, short-term and long-term credit capacity,growth capacity, liquidity, risk from nine aspects, and build the evaluation ofgrowth index system of growth. It chooses28February2011of the183listedcompanies as the research object. Afterward uses SPSS to analyze factors andcalculates the score as expectations, and uses based L-M algorithm for BP neuralnetwork, designs a22-10-1network and the growth evaluation procedure. Finally,combining with the MATLAB, we perform the network training and simulationtesting, the network output and target evaluation of results’ expectation areextremely close which is implied the network has better practicability andoperability.