SSE: 600873 - MeiHua Holdings Group Co.,Ltd

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 = 1.08
CAGR EPS = 27.68%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 10.03 + (10.03 * 27.68% / 100) = 12.81

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) = 8.87
Ebitda Yield = 0.1085
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 = 0.1152
Debt = 5.09
Market Cap = 25.96
Weight Debt = Market Cap / (Market Cap + Debt) = 25.96 / (25.96 + 5.09) = 0.8361
Weight Cost Debt = 100% - 0.8361 = 0.1639
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 = 0.3776
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0.3776 * 5.94 + 0 = 0.0499
WACC = (0.1152 / 5.09) * (100% - 0.8361) * (1 - 0.21) + 0.0499 + 0.8361 = 1.82
Terminal Value = Discount (8.87 * (1 + 0.1085) / (1.82 - 0.1085)) = 99.47
Company Value = ∑ (8.87 / (1 + 1.82) ^ 5) = 34.45
Price = (Terminal Value + Company Value) / Count shares = (99.47 + 34.45) / 2943430000 = 45.5

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) = 7.81
FCF Yield = 0.1493
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 = 0.1152
Debt = 5.09
Market Cap = 25.96
Weight Debt = Market Cap / (Market Cap + Debt) = 25.96 / (25.96 + 5.09) = 0.8361
Weight Cost Debt = 100% - 0.8361 = 0.1639
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 = 0.3776
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0.3776 * 5.94 + 0 = 0.0499
WACC = (0.1152 / 5.09) * (100% - 0.8361) * (1 - 0.21) + 0.0499 + 0.8361 = 1.82
Terminal Value = Discount (7.81 * (1 + 0.1493) / (1.82 - 0.1493)) = 62.56
Company Value = ∑ (7.81 / (1 + 1.82) ^ 5) = 28.43
Price = (Terminal Value + Company Value) / Count shares = (62.56 + 28.43) / 2943430000 = 30.91