The Study On The Valuation Of GEM Listed Companies

Accompanied by the gradual improvement and development of the capital markets, value investing products attract more and more investors in hot pursuit. Gem was established, which makes our investors have the new way of investments. However, the gem is at a stage of rapid development, involved in the industry of the high-tech industry, gem-listed companies have the characteristics of high earnings ratios, higher price and higher recruitment. These surfaces in the second board market prices deviate from the value of the question. The market is about many high-tech enterprises, which have the characteristics of high value-added products of science and technology and so on. Therefore, the traditional valuation methods do not apply to the gem company. The gem-listed companies’selection truly reflects the value and sustainability of the evaluation method for investment and enterprise development. It is of great significance.The paper through on growth enterprise market listed company features detailed analysis, combines traditional enterprise value assessment method of applicability and limitations, and articles in the real option of value constitute and with the features focuses on analysis. I think this method can be better to value the growth enterprise market listed company in the exists of value uncertainty factors which is good of be assessment, using real option of Binary tree option pricing model, thus it covers the traditional of static value assessment method which cannot process enterprise dynamic situation of features, this method in the introduced has "liquidation value", Can embody the gem companies business processes in the option value, therefore the use of this method will be more comprehensive and revised valuations reflecting the value of second board companies. Moreover, case study on TGOOD features to illustrate the value of the overall evaluation process, after the completion of valuation case analyses and compares the value of the company on the market. Finally, the research summaries and points out the lack of innovation.