HKEX: 0129 - Asia Standard International Group Limited

Price = Avg Price + (Avg Price * CAGR EPS% / 100)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — 关键利率
Excess Key Rate — 期望超出关键利率
EPS = -4.39
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.3775 + (0.3775 * 8.66% / 100) = 0.4102

Price = (Terminal Value + Company Value) / Count shares
Price - 价格公道
Terminal Value — 预测后期间的成本
Company Value — 预测期内的成本
Count shares - 股份数量
Terminal Value = Discount Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 0.9455
Ebitda Yield = -0.0588
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - 偿债成本
Debt - 责任
Weight Debt - 相对于债务的资本权重
Weight Cost Debt - 债务权重相对于资本总额
Tax - 税
Interest Expense = 0.8092
Debt = 17.75
Market Cap = 0.7787
Weight Debt = Market Cap / (Market Cap + Debt) = 0.7787 / (0.7787 + 17.75) = 0.042
Weight Cost Debt = 100% - 0.042 = 0.958
Tax = 0.25
Cost Of Equity — 贴现率
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — 无风险回报率
β (beta) — 确定股票（资产）相对于市场的风险度量，并显示股票盈利能力变化相对于市场盈利能力变化的敏感性。
Risk Premium — 风险溢价——投资股票的风险溢价
Country Premium - 国家风险
k(f) = -0.7
β = 0.0036
Risk Premium = 18.88
Country Premium = 0.91
Cost Of Equity = -0.7 + 0.0036 * 18.88 + 0.91 = 0.0028
WACC = (0.8092 / 17.75) * (100% - 0.042) * (1 - 0.25) + 0.0028 + 0.042 = 3.42
Terminal Value = Discount (0.9455 * (1 + -0.0588) / (3.42 - -0.0588)) = 8.09
Company Value = ∑ (0.9455 / (1 + 3.42) ^ 5) = 4.87
Price = (Terminal Value + Company Value) / Count shares = (8.09 + 4.87) / 1319780000 = 9.82

Price = (Terminal Value + Company Value) / Count shares
Price - 价格公道
Terminal Value — 预测后期间的成本
Company Value — 预测期内的成本
Count shares - 股份数量
Terminal Value = Discount FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = 8.36
FCF Yield = -2.51
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - 偿债成本
Debt - 责任
Weight Debt - 相对于债务的资本权重
Weight Cost Debt - 债务权重相对于资本总额
Tax - 税
Interest Expense = 0.8092
Debt = 17.75
Market Cap = 0.7787
Weight Debt = Market Cap / (Market Cap + Debt) = 0.7787 / (0.7787 + 17.75) = 0.042
Weight Cost Debt = 100% - 0.042 = 0.958
Tax = 0.25
Cost Of Equity — 贴现率
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — 无风险回报率
β (beta) — 确定股票（资产）相对于市场的风险度量，并显示股票盈利能力变化相对于市场盈利能力变化的敏感性。
Risk Premium — 风险溢价——投资股票的风险溢价
Country Premium - 国家风险
k(f) = -0.7
β = 0.0036
Risk Premium = 18.88
Country Premium = 0.91
Cost Of Equity = -0.7 + 0.0036 * 18.88 + 0.91 = 0.0028
WACC = (0.8092 / 17.75) * (100% - 0.042) * (1 - 0.25) + 0.0028 + 0.042 = 3.42
Terminal Value = Discount (8.36 * (1 + -2.51) / (3.42 - -2.51)) = -4.2
Company Value = ∑ (8.36 / (1 + 3.42) ^ 5) = 4.83
Price = (Terminal Value + Company Value) / Count shares = (-4.2 + 4.83) / 1319780000 = 0.4779