SZSE: 002797 - First Capital Securities Co., Ltd.

Price = EPS * (1 + CAGR EPS) / (Key Rate * Excess Key Rate)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — キーレート
Excess Key Rate — 必要なキーレートの超過
EPS = 0.12
CAGR EPS = -11.96%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.12 * (1 + -11.96%) / (0.0433 * 2) = 1.22