OTC: DNFGF - Dongfeng Motor Group Company 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 = -0.4694
CAGR EPS = 9.16%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 0.425 + (0.425 * 9.16% / 100) = 0.4639

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 = 0.007
g = -0.3208
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) = 2.75
β = 5.43
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 5.43 * 5.94 + 0 = 0.3501
Price = (0.007 * (1 + -0.3208)) / (0.3501 - -0.3208) = 0.0071

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) = 5.6E-5
Ebitda Yield = -1.17
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 = 0.771
Debt = 59.57
Market Cap = 3.25
Weight Debt = Market Cap / (Market Cap + Debt) = 3.25 / (3.25 + 59.57) = 0.0517
Weight Cost Debt = 100% - 0.0517 = 0.9483
Tax = 0.21
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) = 2.75
β = 5.43
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 5.43 * 5.94 + 0 = 0.3501
WACC = (0.771 / 59.57) * (100% - 0.0517) * (1 - 0.21) + 0.3501 + 0.0517 = 1.04
Terminal Value = Discount (5.6E-5 * (1 + -1.17) / (1.04 - -1.17)) = 0
Company Value = ∑ (5.6E-5 / (1 + 1.04) ^ 5) = 0.0579
Price = (Terminal Value + Company Value) / Count shares = (0 + 0.0579) / 8513000000 = 0.0068

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) = -1.38
FCF Yield = -0.1986
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 = 0.771
Debt = 59.57
Market Cap = 3.25
Weight Debt = Market Cap / (Market Cap + Debt) = 3.25 / (3.25 + 59.57) = 0.0517
Weight Cost Debt = 100% - 0.0517 = 0.9483
Tax = 0.21
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) = 2.75
β = 5.43
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 5.43 * 5.94 + 0 = 0.3501
WACC = (0.771 / 59.57) * (100% - 0.0517) * (1 - 0.21) + 0.3501 + 0.0517 = 1.04
Terminal Value = Discount (-1.38 * (1 + -0.1986) / (1.04 - -0.1986)) = -5.02
Company Value = ∑ (-1.38 / (1 + 1.04) ^ 5) = -10.96
Price = (Terminal Value + Company Value) / Count shares = (-5.02 + -10.96) / 8513000000 = -1.88