HKEX: 1570 - Weiye Holdings Limited

Price = Avg Price + (Avg Price * CAGR EPS% / 100)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — Nøkkelrente
Excess Key Rate — Ønsket overskridelse av styringsrenten
EPS = -0.2683
CAGR EPS = 11.25%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 2.17 + (2.17 * 11.25% / 100) = 2.41

Price = (Terminal Value + Company Value) / Count shares
Price - Fair pris
Terminal Value — kostnad i perioden etter prognose
Company Value — kostnad i prognoseperioden
Count shares - Antall aksjer
Terminal Value = Discount Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 0.0386
Ebitda Yield = -0.1748
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - Gjeldsbetjeningskostnader
Debt - Plikt
Weight Debt - Kapitaliseringsvekt i forhold til gjeld
Weight Cost Debt - Gjeldsvekt i forhold til kapitalisering
Tax - Avgift
Interest Expense = 0.0283
Debt = 0.8383
Market Cap = 0.7355
Weight Debt = Market Cap / (Market Cap + Debt) = 0.7355 / (0.7355 + 0.8383) = 0.4673
Weight Cost Debt = 100% - 0.4673 = 0.5327
Tax = 0.25
Cost Of Equity — diskonteringsrente
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — risikofri avkastning
β (beta) — bestemmer risikomålet for en aksje (aktiva) i forhold til markedet og viser sensitiviteten til endringer i aksjens lønnsomhet i forhold til endringer i markedslønnsomheten.
Risk Premium — risikopremie - premie for risikoen ved å investere i aksjer
Country Premium - landrisiko
k(f) = 0.5
β = -1.61
Risk Premium = 18.88
Country Premium = 0.91
Cost Of Equity = 0.5 + -1.61 * 18.88 + 0.91 = -0.29
WACC = (0.0283 / 0.8383) * (100% - 0.4673) * (1 - 0.25) + -0.29 + 0.4673 = 2.38
Terminal Value = Discount (0.0386 * (1 + -0.1748) / (2.38 - -0.1748)) = 0.1424
Company Value = ∑ (0.0386 / (1 + 2.38) ^ 5) = 0.2762
Price = (Terminal Value + Company Value) / Count shares = (0.1424 + 0.2762) / 196130000 = 2.13

Price = (Terminal Value + Company Value) / Count shares
Price - Fair pris
Terminal Value — kostnad i perioden etter prognose
Company Value — kostnad i prognoseperioden
Count shares - Antall aksjer
Terminal Value = Discount FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = 0.0088
FCF Yield = -1.5
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - Gjeldsbetjeningskostnader
Debt - Plikt
Weight Debt - Kapitaliseringsvekt i forhold til gjeld
Weight Cost Debt - Gjeldsvekt i forhold til kapitalisering
Tax - Avgift
Interest Expense = 0.0283
Debt = 0.8383
Market Cap = 0.7355
Weight Debt = Market Cap / (Market Cap + Debt) = 0.7355 / (0.7355 + 0.8383) = 0.4673
Weight Cost Debt = 100% - 0.4673 = 0.5327
Tax = 0.25
Cost Of Equity — diskonteringsrente
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — risikofri avkastning
β (beta) — bestemmer risikomålet for en aksje (aktiva) i forhold til markedet og viser sensitiviteten til endringer i aksjens lønnsomhet i forhold til endringer i markedslønnsomheten.
Risk Premium — risikopremie - premie for risikoen ved å investere i aksjer
Country Premium - landrisiko
k(f) = 0.5
β = -1.61
Risk Premium = 18.88
Country Premium = 0.91
Cost Of Equity = 0.5 + -1.61 * 18.88 + 0.91 = -0.29
WACC = (0.0283 / 0.8383) * (100% - 0.4673) * (1 - 0.25) + -0.29 + 0.4673 = 2.38
Terminal Value = Discount (0.0088 * (1 + -1.5) / (2.38 - -1.5)) = -0.0026
Company Value = ∑ (0.0088 / (1 + 2.38) ^ 5) = 0.0977
Price = (Terminal Value + Company Value) / Count shares = (-0.0026 + 0.0977) / 196130000 = 0.4853