Research On Financial Performance Of Kyland Technology After Turn Board

With the development and perfection of China's capital market,China has basically formed a multi-level capital market structure,of which the first layer for the motherboard,small board market,the second floor for the GEM market,the third layer for the new three board market,The fourth floor is a regional equity trading market.In order to establish the connection between the various levels of capital markets,so that China's multi-level capital market into a whole,the State Council in December 2013 issued a "national small and medium enterprises on the transfer of shares related to the decision" The smooth development of the turn board system provides legal support.As of the end of 2016,12 companies successfully turn board from the new three-board market to A shares,and 2016 early 50 companies announced in the enterprise announcement will be turn board to the GEM.But the company in the turn board after the long-term benefits to shareholders,but also need to continue to verify.According to the annual report disclosed by the Company from 2010 to 2015,the financial report from the company from the new third board to the GEM of Beijing Dongtu Technology(hereinafter referred to as Kyland Technology),Performance analysis to analyze the way through the case study to explore the company before and after the financial indicators and EVA value creation ability of the performance.The study found that the company after the turn board of business capacity has improved,but the decline in capital profitability.A further analysis of the EVA value creation capability of the company before and after the board reveals that the company's EVA value has steadily increased before the transfer board,but continued to decline in the year and the next two years until the third year did not continue to decline.This paper from the company after the transfer of non-operating income accounted for too high,the use of a large number of equity funds inefficient,its asset-liability ratio is low,the investment project does not meet the expected benefits and investment projects single point of view to explain the value of the company after the turn board The existing problems and put forward the corresponding countermeasures.This paper aims to study the financial performance ofKyland Technology before and after the turn board,the purpose is to other follow-up to the new board of three enterprises to maintain business performance and value creation ability to inspire.