Value Evaluation Of GEM Listed Companies

Since 2009 GEM board,GEM board has experienced more than five years of development, the number of companies listed on GEM has increased from 28 to 407 now.However, with the launch of the GEM, GEM listed companies there have been a number of different issues with the motherboard-high issue price, high price-earnings ratio and high superb raise. "Three high" phenomenon is not only greatly increased the investment risks for investors, but also adversely affect the construction and development of the GEM.This paper analyzes the advantages and disadvantages of GEM listed companies is different from the board, small board of listed companies and the basic characteristics of assessment methods.According to the characteristics of GEM companies and the Commission concerning the introduction of the relevant regulatory supervision of the audit focused on the GEM companies, has established a suitable valuation GEM Enterprises Evaluation scoring index system, including prospects for the industry, the core technology and R & D capabilities, products, and market conditions financial status, internal management, risk and other circumstances these six areas, and are set weights.On the basis of the existing law on income, according to the business situation to score on the growth rate and the discount rate of the original method of reasonable adjustments, come GEM value of the business. Then through this specific case Diruiyiliao analysis, verification of the correctness of the idea, but found some problems that need attention in the specific analysis in the hope that by improving the energy of the value assessment of companies listed on GEM has some reference and reference.Finally, this paper expectancy theory and practice of development of the industry and outside the enterprise value of the company can be listed on GEM assess this common problem to provide better solutions.