SSE: 688322 - Orbbec 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 = -0.6897
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 40.58 + (40.58 * 8.66% / 100) = 44.09

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) = 0.5018
Ebitda Yield = 0.0687
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 = 0.0044
Debt = 0.1237
Market Cap = 18.04
Weight Debt = Market Cap / (Market Cap + Debt) = 18.04 / (18.04 + 0.1237) = 0.9932
Weight Cost Debt = 100% - 0.9932 = 0.0068
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) = 2.89
β = -8.81
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -8.81 * 5.94 + 0 = -0.4947
WACC = (0.0044 / 0.1237) * (100% - 0.9932) * (1 - 0.21) + -0.4947 + 0.9932 = 2.29
Terminal Value = Discount (0.5018 * (1 + 0.0687) / (2.29 - 0.0687)) = 10.45
Company Value = ∑ (0.5018 / (1 + 2.29) ^ 5) = 2.06
Price = (Terminal Value + Company Value) / Count shares = (10.45 + 2.06) / 400000000 = 31.27

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) = -0.3057
FCF Yield = -0.0186
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 = 0.0044
Debt = 0.1237
Market Cap = 18.04
Weight Debt = Market Cap / (Market Cap + Debt) = 18.04 / (18.04 + 0.1237) = 0.9932
Weight Cost Debt = 100% - 0.9932 = 0.0068
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) = 2.89
β = -8.81
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -8.81 * 5.94 + 0 = -0.4947
WACC = (0.0044 / 0.1237) * (100% - 0.9932) * (1 - 0.21) + -0.4947 + 0.9932 = 2.29
Terminal Value = Discount (-0.3057 * (1 + -0.0186) / (2.29 - -0.0186)) = -6.47
Company Value = ∑ (-0.3057 / (1 + 2.29) ^ 5) = -1.49
Price = (Terminal Value + Company Value) / Count shares = (-6.47 + -1.49) / 400000000 = -19.88