Business Valuation For Sports EXP Co.,Ltd

With the proposal of the New Normal for economy and the development of China's capital market,numerous small and medium-sized enterprises(SMEs)emerge successively and become the main force of the Innovation Oriented economy.In order to realize the goal of innovation,a lot of financial support injection is usually required.Under the current capital market,it seems unlikely to raise money by becoming a listed company through the Main Board Market as well as Small and Medium-Sized Board Market because of their demanding standards.As a result,SMEs usually turn to the National Equities Exchange and Quotations(NEEQ)for financing.Consequently,as one of the necessary step of becoming a listed company in the NEEQ market,business valuation becomes increasingly active.Under this background,this paper selects and studies business valuation for NEEQ of Hunan Sports EXP Co.,Ltd.The writing of the paper are the following:firstly,it summarizes and compares the different viewpoints and methods of business value,as well as the emergency and development of real option theory and its application in the enterprise valuation.Secondly,combined with the theory of enterprise,the theory of enterprise valuation and the resource of enterprise value,the author analyzes differences among various business valuation theories and methods.By contrast,it can be concluded that the real option method is the most suitable method for NEEQ information technology enterprise.Thirdly,combined with the enterprise value creation theory,this paper analyzes and points out deficiencies of the asset based approach in the original cases respectively.Finally,the paper analyses the resource of business value of Hunan Sports EXP Co.,Ltd according to it's established resources and innovation capacity,then evaluates the enterprise existing profitability and potential profitability of enterprise value to realize improvement and analysis of of the existing valuation case.In this paper,by evaluating the value of Hunan Sports EXP Co.,Ltd with the theory of enterprise value driving factors and real option theory,it's supposed to bring some help to the valuation of the NEEQ information technology enterprise for the future valuation method and practice.