Based On The Eva Theory To Our Country The Gem Listing Enterprise Growth Research

China’sGEM from1999until2009after a decade of unconventional ups and downs, and finally it open board in the Shenzhen Stock Exchange successfully. November1in2010, the first batch of GEM listed companies with a small non-lifting of the ban.The arrival of the ban agitation, coupled with the GEM IPO underpricing, as well as GEM "three highquestions"(high price-earnings ratio, high issueprice, high raise funds), senior officials of cash left, the growth of listed companies is not high, the GEM system is not perfected and no retreat city system. So the development of the GEM has always been a number of questions. GEM lifted the expiration of one yearin Nov.1in2011. How muchthegrowthoflistedenterprisesafter two years of GEMoperations, and what can GEM do to bring hope to the small and medium-sized enterprises? How can GEM do tomake the domestic enterprises become theworld’s top100enterprises? What the contributionto establish multi-level capital marketsfor China?This paper makes the overall situation to describe the GEM operations in China more than two years. With the theoretical foundation--VA theory and empirical research methods, I select the first28listed enterprises, empirical research in the November1in2010lifting of the ban of the27corporate data. It makes the full and comprehensive analysis of the GEM operations and GEM-listed SMEs growthin more than one year. After empirical studies show that it has the better overall development of the first batch of listed companies of China’s GEM and business grow this more excellent. GEM indeed makes a certain role in promoting the growth of the listed companies. However, the listed companies in each the average score is not highfrom measure business growth indicators. It means the growth of the enterprise as a whole there is no breakthrough in style to emerge. So the listed companiesneed improve that from the listed company’s own growth indicators such as profitability, growth potential, capital operation and other capabilities. GEM system is imperfect defects and it should be improved to make appropriate contributions to make it better for China to establish multi-level capital market system.