HKEX: 1102 - Enviro Energy International Holdings 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 = -0.0659
CAGR EPS = 5.68%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.0775 + (0.0775 * 5.68% / 100) = 0.0819

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) = 0.0676
Ebitda Yield = 0.2206
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 = 0.012
Debt = 0.2404
Market Cap = 0.0369
Weight Debt = Market Cap / (Market Cap + Debt) = 0.0369 / (0.0369 + 0.2404) = 0.1331
Weight Cost Debt = 100% - 0.1331 = 0.8669
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 = -1.66
Risk Premium = 18.88
Country Premium = 0.91
Cost Of Equity = -0.7 + -1.66 * 18.88 + 0.91 = -0.3118
WACC = (0.012 / 0.2404) * (100% - 0.1331) * (1 - 0.25) + -0.3118 + 0.1331 = 3.7
Terminal Value = Discount (0.0676 * (1 + 0.2206) / (3.7 - 0.2206)) = 0.3749
Company Value = ∑ (0.0676 / (1 + 3.7) ^ 5) = 0.209
Price = (Terminal Value + Company Value) / Count shares = (0.3749 + 0.209) / 542390000 = 1.08

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) = 0.0052
FCF Yield = -0.0716
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 = 0.012
Debt = 0.2404
Market Cap = 0.0369
Weight Debt = Market Cap / (Market Cap + Debt) = 0.0369 / (0.0369 + 0.2404) = 0.1331
Weight Cost Debt = 100% - 0.1331 = 0.8669
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 = -1.66
Risk Premium = 18.88
Country Premium = 0.91
Cost Of Equity = -0.7 + -1.66 * 18.88 + 0.91 = -0.3118
WACC = (0.012 / 0.2404) * (100% - 0.1331) * (1 - 0.25) + -0.3118 + 0.1331 = 3.7
Terminal Value = Discount (0.0052 * (1 + -0.0716) / (3.7 - -0.0716)) = 0.0368
Company Value = ∑ (0.0052 / (1 + 3.7) ^ 5) = 0.0272
Price = (Terminal Value + Company Value) / Count shares = (0.0368 + 0.0272) / 542390000 = 0.1181