The Enterprise Value Evaluation Research Based On Economic Value Added Of Silicon Technology

:Because of the high growth and high profitability, GEM-listed companies have attracted the majority of investors to invest in them. But the study of enterprise value assessment in our country focus on the mature enterprise in the main board, valuation methods have significant limitations, so the evaluation of the GEM-listed companies is beneficial in evaluation areas.Based on the summary of related theories of enterprise value assessment,This paper chooses Chengdu Guibao Science Stock Company Ltd. as the object of study,choose to use EVA model for value assessment as this enterprise.Firstly, this paper analyzes the factors affecting the enterprise assessment of Guibao. Secondly, by calculates the net operating profit after tax, the total of capitals and the weighted average cost of capital(WACC), this paper calculates the past EVA and analyzes the notes of improving EVA. Finally, based on the data of set existence years, the predicted EVA and the WACC, this paper suggests the following results:by the Dec.31th,2012, the enterprise value is￥2,058,388,560, the total equity is163.2millon shares and the intrinsic value of one share is12.61which is slightly higher than the closing price11.8per share. All the data show the enterprise has investment value.The results of the study indicate that EVA model is suitable for the enterprise value assessment of the GEM-listed companies, just like Guibao. Moreover, this assessment model can provide references for the prospective investors of this enterprise’s shares. This model can also has some referential significance for the enterprise value assessment and the stock price predicting of the GEM-listed companies.