HKEX: 9901 - New Oriental Education & Technology Group Inc.

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 = -0.16
CAGR EPS = 4.5%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 53.48 + (53.48 * 4.5% / 100) = 55.88

Price = (DPS * (1 + g)) / (Cost Of Equity - g)
Price - 价格公道
DPS — 当期股息
g — 预期增长率
DPS = 0.0641
g = 4.01
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) = 0.1
β = 0.6148
Risk Premium = 18.88
Country Premium = 0.91
Cost Of Equity = 0.1 + 0.6148 * 18.88 + 0.91 = 0.1262
Price = (0.0641 * (1 + 4.01)) / (0.1262 - 4.01) = 0.0827