The Evaluation System Of The Growth Of The Listed Companies Of New Third Board Internet Software Service Industry

From 1990 s to nowdays, Chinese capital market basically formed two parts :the floor market and the OTC market. The mainboard and the gem belong to the floor market. while the National Equities Exchange and Quotations System, regional equity trading market, and the counter market dominated by securities companies belong to the OTC market. these markets constitute a multi-level capital market system. The Third board market originated in 2001, the equity agency transfer system, it undertook the “STAQ” and “Net” companies and delisting companies. In 2006, the companies in Zhongguancun Science and Technology Park entered the transfer agent system, offered for sale of shares, it was the New third Board. In 2012, the State Council decided to expand the non-listed company shares transfer pilot. The first pilot places were include Shanghai Zhangjiang High-tech Industrial Development Zone, Wuhan East Lake New Technology Industrial Development Zone and Tianjin Binhai hightech Zone. By the end of 2013, the Commission announced the New Third board expand to the whole country, open to all companies. It means the New third Board market officially became a national securities trading market. Until December 10, 2015, there are 4612 companies listed in the New third Board, the number and the total market value has been relatively large.In order to encourage high-tech and innovative enterprises, the New third Board market has no clear financial requirements for the listed companies. Among the New third Board listed enterprises, the Internet software service companies grow fastest. In the Asian Boao forum held in March 2015, the “Internet+” has become a new focus of the capital market. Therefore, the research of the New third Board Internet software service companies growth can help this type of enterprises find their own weakness and the direction of development in the future, but also to provide a basis for government departments to develop relevant policies and measures, and can provide a basis for investors to make decisions because the company with higher growth means a higher return.Based on the above content, this paper firstly summarizes the theory and development of enterprise growth at home and abroad. Then expounds the origin development and main function and current situation of the New Third board, and then puts forward the New Third board Internet software service enterprise evaluation model based on the above theory, evaluate the 47 sample enterprises growth and score ranking, and the results are consistent with the actual situation of enterprise development. In order to highlight the growth of New Third board market enterprises, this paper also creatively select the same industry enterprises of GEM market to evaluate and then draw a conclusion. Finally, based on the results of data analysis, this paper puts forward some opinions and suggestions on the New Third board Internet software service enterprises from three aspects: the enterprise itself, government and investors.