SSE: 900936 - Inner Mongolia ERDOS Resources 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 = 1.04
CAGR EPS = 2.01%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.873 + (0.873 * 2.01% / 100) = 0.8906

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) = 9.82
Ebitda Yield = 0.052
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 = 0.2093
Debt = 0
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0) = 0
Weight Cost Debt = 100% - 0 = 1
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 = 0.5826
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0.5826 * 5.94 + 0 = 0.0621
WACC = (0.2093 / 0) * (100% - 0) * (1 - 0.21) + 0.0621 + 0 = 0
Terminal Value = Discount (9.82 * (1 + 0.052) / (0 - 0.052)) = 198.75
Company Value = ∑ (9.82 / (1 + 0) ^ 5) = 44.47
Price = (Terminal Value + Company Value) / Count shares = (198.75 + 44.47) / 2798780000 = 86.9

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) = 10.34
FCF Yield = 0.1303
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 = 0.2093
Debt = 0
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0) = 0
Weight Cost Debt = 100% - 0 = 1
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 = 0.5826
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0.5826 * 5.94 + 0 = 0.0621
WACC = (0.2093 / 0) * (100% - 0) * (1 - 0.21) + 0.0621 + 0 = 0
Terminal Value = Discount (10.34 * (1 + 0.1303) / (0 - 0.1303)) = 89.66
Company Value = ∑ (10.34 / (1 + 0) ^ 5) = 41.06
Price = (Terminal Value + Company Value) / Count shares = (89.66 + 41.06) / 2798780000 = 46.71