The Research On Financial Performance Of The NEEQ Company Transform Board

With the improvement of the capital market development,the present capital market structure in our country has certain layers.With the main-board market,the medium and small enterprise market as the first layer;the growth enterprise market as the second layer;the National Equities Exchange and Quotations(NEEQ)market and regional equity trading market for the third and fourth layer.In order to be able to make up and down between all levels of our capital market,the state council of China published a document in December 2013 "?Decision about shares transfer system problems on the NEEQ?",The file improves the Trading Market transfer system and the laws and regulations construction on Trading Market transfer channel.According to relevant data statistics,by the end of 2016,only 14 enterprises transfer trading market from the NEEQ market to A-share market.By the end of the second season of 2017,more than 200 enterprises have been under per-listing tutoring.If the enterprise can transfer the trading market,which means that the corporate performance and governance are good prospects for development,but whether enterprises' operation and performance can maintain the good momentum of development on long-term after transfer,it takes time to measure.Beijing Thunisoft Co.Ltd.transfer equity trending from NEEQ market to the growth enterprise market in 2011,named HUAYU SOFTWARE(300271.SH).According to the public annual reports in 2009-2015 of HUAYU Software,based on the financial performance after transfer trading market,analyze its profitability,debt paying ability,operating ability,growth ability and EVA value creation ability.Through results of research show that the company has improved on profitability,debt paying ability,growth ability and value creation ability,whereas a small decrease in operating capacity.Than analysis on the EVA value creation ability of HUAYU Software before and after transfer founds that the company's EVA value significantly enhanced,102.05 million Yuan in 2015 compared with 72.9 million Yuan in 2009.Finally,the author makes a case study of HUAYU software,sums up the reasons forits value creation ability and performance increase after its transfer trading market,and expects to provide valuable reference for similar enterprises.