Research On The Performance Evaluation Of High-tech Enterprises In GEM Based On EVA

China's Growth Enterprise Market was officially launched on the Shenzhen Stock Exchange on October 30,2009.By the end of 2017,a total of 710 companies had chosen to list on the GEM,of which 427 were high-tech enterprises,reaching a ratio of 60.14%.High-tech enterprises are characterized by high growth,high returns,and high risks.The community has given high attention to their growth.The sound development of high-tech enterprises will help China accelerate economic growth and promote technological innovation.The performance evaluation of high-tech enterprises,as an important way for enterprises to understand their own business,plays an important role in promoting the development and growth of enterprises.At present,the traditional financial index evaluation method still occupies a basic position in the performance evaluation of China's GEM high-tech enterprises,but this method has many defects.At the same time,the economic value-added(EVA)performance evaluation method that takes into account the company's operating profit and shareholders' equity,from the perspective of enterprise value appreciation,comprehensively considers the debt capital cost and the equity capital cost,and more reflects the true and accurate business performance of the enterprise.This paper selects China Testing and Testing Group Co.,Ltd.(Chinese test for short)as the representative of the GEM high-tech enterprise,and introduces the EVA performance evaluation index into the enterprise for case analysis.The article first introduces the research on performance evaluation at home and abroad,points out the advantages and disadvantages of traditional financial indicators,and introduces the EVA performance evaluation method in detail.According to the status quo of the performance evaluation of China's GEM high-tech enterprises,the existing problems and the feasibility and necessity of applying the EVA performance evaluation method,EVA is applied to the representative of the high-tech enterprises selected in this paper,namely,the China Testing and Testing Group.The company obtained relevant financial report data information through Juchao Information Network,calculated according to EVA adjustment items,and finally obtained the EVA value of China Testing and Testing Company from 2013 to 2017,and selected three analysis points to compare and analyze with traditional financial indicators.These three points are: 1.Comparative analysis of EVA and net profit;2.Comparative analysis of EVA return on investment and return on net assets;3.Comparative analysis of EVA per share and earnings per share.Through the comparative analysis of EVA and traditional financial indicators,it is concluded that EVA considers the cost of equity capital and has undergone a series of accounting adjustments to more accurately reflect the performance of the company,which is superior to the traditional financial indicators.EVA helps GEM high-tech enterprises to continuously enhance their core competitiveness.In the long run,they can guide the continuous development of GEM high-tech enterprises.