LI, Jingyi 10117288 Analysis PDF

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Cash Flow Calculations Year Saled Revenue Certificate Revenue Government subsidy Operating Expenses EBITDA Depreciation Expense Gain/Loss EBIT Tax on EBIT NOPAT add back New Depreciation & G/L Cash Flow from Op. Capital Expenditure Salvage Working Capital Free Cash Flow Discount Factor @10% Discount Cash Flow NPV

0

1 1,092,141 955,623 340,000 (500,000) 1,887,764 (750,000)

2 1,120,537 980,470 340,000 (513,000) 1,928,006 (750,000)

1,137,764 (341,329) 796,435 750,000 1,546,435

1,178,006 (353,402) 824,603 750,000 1,574,603

1,546,435 0.909 1,405,850

1,574,603 0.826 1,301,325

(15,000,000) 0 (15,000,000) 1.000 (15,000,000) 50,501

3 1,149,670.6 1,005,962 340,000 (526,338) 1,969,294 (750,000)

4 1,179,562 1,032,117 340,000 (540,023) 2,011,656 (750,000)

5 1,210,231 1,058,952 340,000 (554,063) 2,055,119 (750,000)

6 1,241,697 1,086,485 340,000 (568,469) 2,099,712 (750,000)

7 1,273,981 1,114,733 340,000 (583,249) 2,145,465 (750,000)

8 1,307,104 1,143,716 340,000 (598,414) 2,192,407 (750,000)

1,219,294 (365,788) 853,506 750,000 1,603,506

1,261,656 (378,497) 883,159 750,000 1,633,159

1,305,119 (391,536) 913,583 750,000 1,663,583

1,349,712 (404,914) 944,798 750,000 1,694,798

1,395,465 (418,639) 976,824 750,000 1,726,824

1,442,407 (432,722) 1,009,685 750,000 1,759,685

1,603,506 0.751 1,204,738

1,633,159 0.683 1,115,470

1,663,583 0.621 1,032,954

1,694,798 0.564 956,670

1,726,824 0.513 886,134

1,759,685 0.467 820,906

9 1,341,089 1,173,453 340,000 (613,972) 2,240,569 (750,000)

10 1,375,957 1,203,963 340,000 (629,936) 2,289,984 (750,000)

11 1,411,732 1,235,266 340,000 (646,314) 2,340,684 (750,000)

12 1,448,437 1,267,383 340,000 (663,118) 2,392,701 (750,000)

13 1,486,097 1,300,334 340,000 (680,359) 2,446,072 (750,000)

14 1,524,735 1,334,143 340,000 (698,049) 2,500,830 (750,000)

1,490,569 (447,171) 1,043,398 750,000 1,793,398

1,539,984 (461,995) 1,077,989 750,000 1,827,989

1,590,684 (477,205) 1,113,479 750,000 1,863,479

1,642,701 (492,810) 1,149,891 750,000 1,899,891

1,696,072 (508,822) 1,187,250 750,000 1,937,250

1,750,830 (525,249) 1,225,581 750,000 1,975,581

1,793,398 0.424 760,576

1,827,989 0.386 704,769

1,863,479 0.350 653,138

1,899,891 0.319 605,364

1,937,250 0.290 561,152

1,975,581 0.263 520,232

15 1,564,378 1,368,831 340,000 (716,198) 2,557,011 (750,000)

16 1,605,052 1,404,420 340,000 (734,819) 2,614,653 (750,000)

17 1,646,783 1,440,935 340,000 (753,924) 2,673,794 (750,000)

18 1,689,600 1,478,400 340,000 (773,526) 2,734,473 (750,000)

19 1,733,529 1,516,838 340,000 (793,638) 2,796,729 (750,000)

1,807,011 (542,103) 1,264,908 750,000 2,014,908

1,864,653 (559,396) 1,305,257 750,000 2,055,257

1,923,794 (577,138) 1,346,656 750,000 2,096,656

1,984,473 (595,342) 1,389,131 750,000 2,139,131

2,046,729 (614,019) 1,432,711 750,000 2,182,711

20 1,778,601 1,556,276 340,000 (814,273) 2,860,604 (750,000) 1,000,000 3,110,604 (933,181) 2,177,423 (250,000) 1,927,423 1,000,000

2,014,908 0.239 482,353

2,055,257 0.218 447,284

2,096,656 0.198 414,812

2,139,131 0.180 384,742

2,182,711 0.164 356,891

2,927,423 0.149 435,143...