| The Internet industry has become an important force in China’s economic development.The transformation and upgrading of traditional industries require the power of the Internet to achieve intelligent manufacturing.The development of smart city and sharing economy provide a huge opportunity for development for Internet companies.The implementation of policies such as the strategy of "network power" shows the great development prospects of China’s Internet industry.Yinghaiwei is China’s first Internet company.It’s founded in May 1995.From 1980 to now,China’s Internet enterprises have experienced three stages: introduction period,commercial value development period and social value highlight period.China’s Internet companies have gone through six listing craze since 2000.China has 91 Internet companies listed at home and abroad and their total market capitalization reaches 5 trillion and 400 billion yuan by the end of 2016.In order to study the overall changes of Internet companies in China,this paper takes the Internet top 100 as the research object.Report of Internet top 100 has been published for six years since 2011.This paper analyzes the regional distribution,the number of listed companies,listing place,the types of business and the situation of ranking.From 2011 to 2016,the provinces in which the top 100 enterprises in the Internet were distributed gradually increased.There are more Internet companies from the second tier cities to enter the Internet top 100.Most companies of the Internet top 100 are located in the capital of the province and only a few companies are distributed in other cities.The number of listed companies in the Internet top 100 shows an upward trend.Listing places of companies of the Internet top 100 include NASDAQ,NYSE,Hong Kong,Shenzhen Stock Exchange,SSE,New Third Board.The proportion of companies listed on NASDAQ and Shanghai Stock Exchange declined year by year.The proportion of companies listed on Hong Kong,the Shenzhen Stock Exchange and the NYSE are generally stable.There are enterprises listed on New Third Board since 2014 and the proportion has been increasing year by year.Delisting of Chinese Internet companies listed in America occurs year after year since 2012.According to the functions and types of business,listed companies of the Internet top 100 can be divided into four categories: basic industry services,business applications,communication and entertainment,Internet media.The proportion of business applications enterprises is higher than that of communication and entertainment and basic industry service enterprises,and it is increasing year by year.The proportion of basic industry services and communication and entertainment varies in the opposite direction.There is only one Internet media company in 2011,2015,and 2016.A total of 10 companies have been on the Internet top 100,including Tencent,Alibaba,Netease,Sohu and so on.This paper makes a descriptive analysis of the financial position of the sample enterprises.From 2010 to 2015,the average value of intangible assets,total assets,total liabilities,net profit and net fixed assets of listed companies of the Internet top 100 is lower than the mean of BAT,the gap is widening year by year,and its growth rate is also lower than the growth rate of the mean of BAT.It is found that the proportion of the total revenue of the top ten listed companies accounted for the sum of the total operating income of all listed companies rise year by year,and it reached 0.86 in 2015.Large Internet companies have obvious advantages.This paper analyzes the sample enterprises of 2010-2015 years by factor analysis.The key factors that affect the financial performance of Internet listed companies are found and include profit factor,operating factor and debt paying factor.This paper constructs 14 indexes that affect the financial performance of Internet listed companies.This paper analyzes the factor score and comprehensive score of sample enterprises from 2010 to 2015,and gets some rules and characteristics of development of Internet enterprise.Finally,this paper draws a conclusion. |
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