Research on the joint application of residual income model and CAPM model in GEM stock prediction

Stock market price fluctuations are influenced by multiple factors, especially in the Growth Enterprise Market (GEM) with its strong speculative atmosphere and higher uncertainty, making stock price prediction particularly challenging. This study innovatively combines the Residual Income Model with the Capital Asset Pricing Model (CAPM) to construct a dualdimensional analytical framework for individual stock price prediction in the GEM: one dimension based on corporate financial indicators (Residual Income Model), and the other considering market systematic risk (CAPM model). The research selects Tonghuashun (300033) as a typical case study, and through empirical analysis, verifies the explanatory and predictive power of these two models in GEM stock valuation, providing investors with more comprehensive valuation references.