<h3>关键洞察</h3>
<ul>
<li>使用两阶段自由现金流折现法，乐普医疗科技（上海）的公允价值估计为 21.30 港元</li>
<li>乐普医疗科技（上海）当前的 21.16 港元股价表明其交易水平与公允价值估计相似</li>
<li>行业平均公允价值折扣为 8.5%，这表明乐普医疗科技（上海）的同行目前交易的折扣更高</li>
</ul>
<p>在本文中，我们将通过预期未来现金流并将其折现到今天的价值来估算乐普医疗科技（上海）有限公司（HKG:2291）的内在价值。这次我们将使用折现现金流（DCF）模型。不要被术语吓到，背后的数学其实相当简单。</p>
<p>我们要提醒的是，评估公司的方法有很多种，像 DCF 一样，每种技术在某些情况下都有其优缺点。如果你对这种估值方法还有一些疑问，可以查看 Simply Wall St 的分析模型。</p>
<p>我们发现 21 只美国股票预计明年将支付超过 6% 的股息收益率。查看完整列表，免费获取。</p>
<h2>乐普医疗科技（上海）是否被合理估值？</h2>
<p>我们将使用两阶段 DCF 模型，顾名思义，它考虑了两个增长阶段。第一阶段通常是一个较高的增长期，随后逐渐趋于终值，这在第二个 “稳定增长” 阶段中体现。首先，我们需要估算未来十年的现金流。由于没有分析师对自由现金流的估计可供我们参考，我们将从公司最后报告的值中推算出之前的自由现金流（FCF）。我们假设自由现金流减少的公司会减缓其缩减速度，而自由现金流增长的公司在此期间会看到其增长速度放缓。我们这样做是为了反映出增长在早期阶段往往比后期阶段放缓得更快。</p>
<p>DCF 的核心思想是未来的一美元不如今天的一美元有价值，因此我们需要将这些未来现金流的总和折现，以得出现值估计：</p>
<h4>10 年自由现金流（FCF）预测</h4>
<table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td></td>
<td><strong>2026</strong></td>
<td><strong>2027</strong></td>
<td><strong>2028</strong></td>
<td><strong>2029</strong></td>
<td><strong>2030</strong></td>
<td><strong>2031</strong></td>
<td><strong>2032</strong></td>
<td><strong>2033</strong></td>
<td><strong>2034</strong></td>
<td><strong>2035</strong></td>
</tr>
<tr>
<td><strong>杠杆自由现金流（人民币，百万）</strong></td>
<td>人民币 227.6 百万</td>
<td>人民币 265.5 百万</td>
<td>人民币 298.7 百万</td>
<td>人民币 327.2 百万</td>
<td>人民币 351.7 百万</td>
<td>人民币 372.9 百万</td>
<td>人民币 391.7 百万</td>
<td>人民币 408.7 百万</td>
<td>人民币 424.4 百万</td>
<td>人民币 439.2 百万</td>
</tr>
<tr>
<td><strong>增长率估算来源</strong></td>
<td>估算 @ 22.66%</td>
<td>估算 @ 16.67%</td>
<td>估算 @ 12.48%</td>
<td>估算 @ 9.54%</td>
<td>估算 @ 7.49%</td>
<td>估算 @ 6.05%</td>
<td>估算 @ 5.04%</td>
<td>估算 @ 4.33%</td>
<td>估算 @ 3.84%</td>
<td>估算 @ 3.50%</td>
</tr>
<tr>
<td><strong>现值（人民币，百万）按 7.6% 折现</strong></td>
<td>人民币 212</td>
<td>人民币 230</td>
<td>人民币 240</td>
<td>人民币 244</td>
<td>人民币 244</td>
<td>人民币 241</td>
<td>人民币 235</td>
<td>人民币 228</td>
<td>人民币 220</td>
<td>人民币 212</td>
</tr>
</tbody>
</table>
<p><em>(&#34;Est&#34; = FCF 增长率由 Simply Wall St 估算)</em></p>
<p><strong>10 年现金流现值（PVCF）</strong> = 人民币 23 亿</p>
<p>在计算初始 10 年期间未来现金流的现值后，我们需要计算终值，该终值考虑了第一阶段之后所有未来现金流。使用戈登增长公式计算终值，未来年增长率等于 10 年期政府债券收益率的 5 年平均值 2.7%。我们以 7.6% 的股本成本将终端现金流折现到今天的价值。</p>
<p><strong>终值（TV）</strong> = FCF2035 × (1 + g) ÷ (r – g) = 人民币 439 百万× (1 + 2.7%) ÷ (7.6%– 2.7%) = 人民币 93 亿</p>
<p><strong>终值现值（PVTV）</strong> = TV / (1 + r) 10= 人民币 93 亿÷ ( 1 + 7.6%) 10= 人民币 45 亿</p>
<p>总价值或股权价值是未来现金流现值的总和，在这种情况下为人民币 68 亿。在最后一步中，我们将股权价值除以流通在外的股份数量。与当前股价 21.2 港元相比，该公司在当前股价交易时约为公允价值，折扣为 0.7%。不过，估值是一种不精确的工具，就像望远镜一样——移动几度就会进入不同的星系。请记住这一点。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/1774404533-dcf-1-dark-2/1760571684174?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/1774404533-dcf-1-dark-2/1760571684174"/></p>
<p>SEHK:2291 折现现金流 2025 年 10 月 15 日</p>
<h2>重要假设</h2>
<p>我们要指出，折现现金流最重要的输入是折现率和实际现金流。你不必同意这些输入，我建议你自己重新计算并进行调整。DCF 也没有考虑行业的周期性或公司的未来资本需求，因此它并不能全面反映公司的潜在表现。考虑到我们将乐普医疗科技（上海）视为潜在股东，使用股本成本作为折现率，而不是资本成本（或加权平均资本成本，WACC），后者考虑了债务。在此计算中，我们使用了 7.6%，这是基于 0.928 的杠杆贝塔。贝塔是衡量股票相对于整体市场波动性的指标。我们从全球可比公司的行业平均贝塔中获得我们的贝塔，并设定在 0.8 到 2.0 之间，这是一个适合稳定业务的合理范围。</p>
<p>查看我们对乐普医疗科技（上海）的最新分析</p>
<h3>乐普医疗科技（上海）的 SWOT 分析</h3>
<p><strong>优势</strong></p>
<ul>
<li>过去一年的盈利增长超过了行业水平。</li>
</ul>
<ul>
<li>目前无债务。</li>
</ul>
<p>2291 的资产负债表摘要。</p>
<p><strong>劣势</strong></p>
<ul>
<li>过去一年的盈利增长低于其 5 年平均水平。</li>
</ul>
<ul>
<li>与医疗设备市场前 25% 的股息支付者相比，股息较低。</li>
</ul>
<p><strong>机会</strong></p>
<ul>
<li>年度盈利预计将比香港市场增长更快。</li>
</ul>
<ul>
<li>基于市盈率和估计公允价值的良好价值。</li>
</ul>
<p><strong>威胁</strong></p>
<ul>
<li>股息未被现金流覆盖。</li>
</ul>
<p>查看 2291 的股息历史。</p>
<h2>下一步：</h2>
<p>估值只是构建投资论点的一方面，理想情况下，它不会是你对一家公司进行审查的唯一分析工具。DCF 模型并不是一个完美的股票估值工具。相反，DCF 模型的最佳用途是测试某些假设和理论，以查看它们是否会导致公司被低估或高估。例如，如果终值增长率稍作调整，可能会显著改变整体结果。对于乐普医疗科技（上海），我们整理了三个你应该进一步研究的要素：</p>
<ol>
<li><strong>风险</strong>：我们认为在投资乐普医疗科技（上海）之前，你应该评估我们标记的 <strong>1 个警告信号</strong>。</li>
<li><strong>未来收益</strong>：2291 的增长率与其同行和更广泛市场相比如何？通过与我们的免费分析师增长预期图表互动，深入了解未来几年的分析师共识数字。</li>
<li><strong>其他高质量替代品</strong>：你喜欢全能型股票吗？探索我们的高质量股票互动列表，了解你可能错过的其他投资机会！</li>
</ol>
<p>PS. Simply Wall St 应用程序每天对香港证券交易所的每只股票进行折现现金流估值。如果你想找到其他股票的计算方法，请在这里搜索。</p>

心泰医疗

<p>乐普心泰医疗科技（上海）有限公司（HKG:2291）的估计公允价值为 21.30 港元，目前股价为 21.16 港元，表明其交易接近公允价值。使用了两阶段折现现金流（DCF）模型来估算未来现金流，得出的总股权价值为 68 亿人民币。分析表明该公司的估值合理，当前股价有轻微的 0.7% 折扣。然而，估值可能不够精确，应谨慎对待</p>

<h3>Key Insights</h3>
<div class="lb-trans"><h3>关键洞察</h3>
</div><ul>
<li>Using the 2 Stage Free Cash Flow to Equity, LEPU ScienTech Medical Technology (Shanghai) fair value estimate is HK$21.30</li>
<li>LEPU ScienTech Medical Technology (Shanghai)'s HK$21.16 share price indicates it is trading at similar levels as its fair value estimate</li>
<li>Industry average discount to fair value of 8.5% suggests LEPU ScienTech Medical Technology (Shanghai)'s peers are currently trading at a higher discount</li>
</ul>
<div class="lb-trans"><ul>
<li>使用两阶段自由现金流折现法，乐普医疗科技（上海）的公允价值估计为 21.30 港元</li>
<li>乐普医疗科技（上海）当前的 21.16 港元股价表明其交易水平与公允价值估计相似</li>
<li>行业平均公允价值折扣为 8.5%，这表明乐普医疗科技（上海）的同行目前交易的折扣更高</li>
</ul>
</div><p>In this article we are going to estimate the intrinsic value of LEPU ScienTech Medical Technology (Shanghai) Co., Ltd. (HKG:2291) by taking the expected future cash flows and discounting them to today's value. We will use the Discounted Cash Flow (DCF) model on this occasion. Don't get put off by the jargon, the math behind it is actually quite straightforward.</p>
<div class="lb-trans"><p>在本文中，我们将通过预期未来现金流并将其折现到今天的价值来估算乐普医疗科技（上海）有限公司（HKG:2291）的内在价值。这次我们将使用折现现金流（DCF）模型。不要被术语吓到，背后的数学其实相当简单。</p>
</div><p>We would caution that there are many ways of valuing a company and, like the DCF, each technique has advantages and disadvantages in certain scenarios. If you still have some burning questions about this type of valuation, take a look at the Simply Wall St analysis model.</p>
<div class="lb-trans"><p>我们要提醒的是，评估公司的方法有很多种，像 DCF 一样，每种技术在某些情况下都有其优缺点。如果你对这种估值方法还有一些疑问，可以查看 Simply Wall St 的分析模型。</p>
</div><p>We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free.</p>
<div class="lb-trans"><p>我们发现 21 只美国股票预计明年将支付超过 6% 的股息收益率。查看完整列表，免费获取。</p>
</div><h2>Is LEPU ScienTech Medical Technology (Shanghai) Fairly Valued?</h2>
<div class="lb-trans"><h2>乐普医疗科技（上海）是否被合理估值？</h2>
</div><p>We are going to use a two-stage DCF model, which, as the name states, takes into account two stages of growth. The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period. To begin with, we have to get estimates of the next ten years of cash flows. Seeing as no analyst estimates of free cash flow are available to us, we have extrapolate the previous free cash flow (FCF) from the company's last reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years.</p>
<div class="lb-trans"><p>我们将使用两阶段 DCF 模型，顾名思义，它考虑了两个增长阶段。第一阶段通常是一个较高的增长期，随后逐渐趋于终值，这在第二个 “稳定增长” 阶段中体现。首先，我们需要估算未来十年的现金流。由于没有分析师对自由现金流的估计可供我们参考，我们将从公司最后报告的值中推算出之前的自由现金流（FCF）。我们假设自由现金流减少的公司会减缓其缩减速度，而自由现金流增长的公司在此期间会看到其增长速度放缓。我们这样做是为了反映出增长在早期阶段往往比后期阶段放缓得更快。</p>
</div><p>A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we need to discount the sum of these future cash flows to arrive at a present value estimate:</p>
<div class="lb-trans"><p>DCF 的核心思想是未来的一美元不如今天的一美元有价值，因此我们需要将这些未来现金流的总和折现，以得出现值估计：</p>
</div><h4>10-year free cash flow (FCF) forecast</h4>
<div class="lb-trans"><h4>10 年自由现金流（FCF）预测</h4>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td></td>
<td><strong>2026</strong></td>
<td><strong>2027</strong></td>
<td><strong>2028</strong></td>
<td><strong>2029</strong></td>
<td><strong>2030</strong></td>
<td><strong>2031</strong></td>
<td><strong>2032</strong></td>
<td><strong>2033</strong></td>
<td><strong>2034</strong></td>
<td><strong>2035</strong></td>
</tr>
<tr>
<td><strong>Levered FCF (CN¥, Millions)</strong></td>
<td>CN¥227.6m</td>
<td>CN¥265.5m</td>
<td>CN¥298.7m</td>
<td>CN¥327.2m</td>
<td>CN¥351.7m</td>
<td>CN¥372.9m</td>
<td>CN¥391.7m</td>
<td>CN¥408.7m</td>
<td>CN¥424.4m</td>
<td>CN¥439.2m</td>
</tr>
<tr>
<td><strong>Growth Rate Estimate Source</strong></td>
<td>Est @ 22.66%</td>
<td>Est @ 16.67%</td>
<td>Est @ 12.48%</td>
<td>Est @ 9.54%</td>
<td>Est @ 7.49%</td>
<td>Est @ 6.05%</td>
<td>Est @ 5.04%</td>
<td>Est @ 4.33%</td>
<td>Est @ 3.84%</td>
<td>Est @ 3.50%</td>
</tr>
<tr>
<td><strong>Present Value (CN¥, Millions) Discounted @ 7.6%</strong></td>
<td>CN¥212</td>
<td>CN¥230</td>
<td>CN¥240</td>
<td>CN¥244</td>
<td>CN¥244</td>
<td>CN¥241</td>
<td>CN¥235</td>
<td>CN¥228</td>
<td>CN¥220</td>
<td>CN¥212</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td></td>
<td><strong>2026</strong></td>
<td><strong>2027</strong></td>
<td><strong>2028</strong></td>
<td><strong>2029</strong></td>
<td><strong>2030</strong></td>
<td><strong>2031</strong></td>
<td><strong>2032</strong></td>
<td><strong>2033</strong></td>
<td><strong>2034</strong></td>
<td><strong>2035</strong></td>
</tr>
<tr>
<td><strong>杠杆自由现金流（人民币，百万）</strong></td>
<td>人民币 227.6 百万</td>
<td>人民币 265.5 百万</td>
<td>人民币 298.7 百万</td>
<td>人民币 327.2 百万</td>
<td>人民币 351.7 百万</td>
<td>人民币 372.9 百万</td>
<td>人民币 391.7 百万</td>
<td>人民币 408.7 百万</td>
<td>人民币 424.4 百万</td>
<td>人民币 439.2 百万</td>
</tr>
<tr>
<td><strong>增长率估算来源</strong></td>
<td>估算 @ 22.66%</td>
<td>估算 @ 16.67%</td>
<td>估算 @ 12.48%</td>
<td>估算 @ 9.54%</td>
<td>估算 @ 7.49%</td>
<td>估算 @ 6.05%</td>
<td>估算 @ 5.04%</td>
<td>估算 @ 4.33%</td>
<td>估算 @ 3.84%</td>
<td>估算 @ 3.50%</td>
</tr>
<tr>
<td><strong>现值（人民币，百万）按 7.6% 折现</strong></td>
<td>人民币 212</td>
<td>人民币 230</td>
<td>人民币 240</td>
<td>人民币 244</td>
<td>人民币 244</td>
<td>人民币 241</td>
<td>人民币 235</td>
<td>人民币 228</td>
<td>人民币 220</td>
<td>人民币 212</td>
</tr>
</tbody>
</table>
</div><p><em>(&#34;Est&#34; = FCF growth rate estimated by Simply Wall St)</em></p>
<div class="lb-trans"><p><em>(&#34;Est&#34; = FCF 增长率由 Simply Wall St 估算)</em></p>
</div><p><strong>Present Value of 10-year Cash Flow (PVCF)</strong> = CN¥2.3b</p>
<div class="lb-trans"><p><strong>10 年现金流现值（PVCF）</strong> = 人民币 23 亿</p>
</div><p>After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 2.7%. We discount the terminal cash flows to today's value at a cost of equity of 7.6%.</p>
<div class="lb-trans"><p>在计算初始 10 年期间未来现金流的现值后，我们需要计算终值，该终值考虑了第一阶段之后所有未来现金流。使用戈登增长公式计算终值，未来年增长率等于 10 年期政府债券收益率的 5 年平均值 2.7%。我们以 7.6% 的股本成本将终端现金流折现到今天的价值。</p>
</div><p><strong>Terminal Value (TV)</strong> = FCF2035 × (1 + g) ÷ (r – g) = CN¥439m× (1 + 2.7%) ÷ (7.6%– 2.7%) = CN¥9.3b</p>
<div class="lb-trans"><p><strong>终值（TV）</strong> = FCF2035 × (1 + g) ÷ (r – g) = 人民币 439 百万× (1 + 2.7%) ÷ (7.6%– 2.7%) = 人民币 93 亿</p>
</div><p><strong>Present Value of Terminal Value (PVTV)</strong> = TV / (1 + r) 10= CN¥9.3b÷ ( 1 + 7.6%) 10= CN¥4.5b</p>
<div class="lb-trans"><p><strong>终值现值（PVTV）</strong> = TV / (1 + r) 10= 人民币 93 亿÷ ( 1 + 7.6%) 10= 人民币 45 亿</p>
</div><p>The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is CN¥6.8b. In the final step we divide the equity value by the number of shares outstanding. Compared to the current share price of HK$21.2, the company appears about fair value at a 0.7% discount to where the stock price trades currently. Valuations are imprecise instruments though, rather like a telescope - move a few degrees and end up in a different galaxy. Do keep this in mind.</p>
<div class="lb-trans"><p>总价值或股权价值是未来现金流现值的总和，在这种情况下为人民币 68 亿。在最后一步中，我们将股权价值除以流通在外的股份数量。与当前股价 21.2 港元相比，该公司在当前股价交易时约为公允价值，折扣为 0.7%。不过，估值是一种不精确的工具，就像望远镜一样——移动几度就会进入不同的星系。请记住这一点。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/1774404533-dcf-1-dark-2/1760571684174" alt="" original-src="https://images.simplywall.st/asset/chart/1774404533-dcf-1-dark-2/1760571684174"/></p>
<p>SEHK:2291 Discounted Cash Flow October 15th 2025</p>
<div class="lb-trans"><p>SEHK:2291 折现现金流 2025 年 10 月 15 日</p>
</div><h2>Important Assumptions</h2>
<div class="lb-trans"><h2>重要假设</h2>
</div><p>We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at LEPU ScienTech Medical Technology (Shanghai) as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 7.6%, which is based on a levered beta of 0.928. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business.</p>
<div class="lb-trans"><p>我们要指出，折现现金流最重要的输入是折现率和实际现金流。你不必同意这些输入，我建议你自己重新计算并进行调整。DCF 也没有考虑行业的周期性或公司的未来资本需求，因此它并不能全面反映公司的潜在表现。考虑到我们将乐普医疗科技（上海）视为潜在股东，使用股本成本作为折现率，而不是资本成本（或加权平均资本成本，WACC），后者考虑了债务。在此计算中，我们使用了 7.6%，这是基于 0.928 的杠杆贝塔。贝塔是衡量股票相对于整体市场波动性的指标。我们从全球可比公司的行业平均贝塔中获得我们的贝塔，并设定在 0.8 到 2.0 之间，这是一个适合稳定业务的合理范围。</p>
</div><p>View our latest analysis for LEPU ScienTech Medical Technology (Shanghai)</p>
<div class="lb-trans"><p>查看我们对乐普医疗科技（上海）的最新分析</p>
</div><h3>SWOT Analysis for LEPU ScienTech Medical Technology (Shanghai)</h3>
<div class="lb-trans"><h3>乐普医疗科技（上海）的 SWOT 分析</h3>
</div><p><strong>Strength</strong></p>
<div class="lb-trans"><p><strong>优势</strong></p>
</div><ul>
<li>Earnings growth over the past year exceeded the industry.</li>
</ul>
<div class="lb-trans"><ul>
<li>过去一年的盈利增长超过了行业水平。</li>
</ul>
</div><ul>
<li>Currently debt free.</li>
</ul>
<div class="lb-trans"><ul>
<li>目前无债务。</li>
</ul>
</div><p>Balance sheet summary for 2291.</p>
<div class="lb-trans"><p>2291 的资产负债表摘要。</p>
</div><p><strong>Weakness</strong></p>
<div class="lb-trans"><p><strong>劣势</strong></p>
</div><ul>
<li>Earnings growth over the past year is below its 5-year average.</li>
</ul>
<div class="lb-trans"><ul>
<li>过去一年的盈利增长低于其 5 年平均水平。</li>
</ul>
</div><ul>
<li>Dividend is low compared to the top 25% of dividend payers in the Medical Equipment market.</li>
</ul>
<div class="lb-trans"><ul>
<li>与医疗设备市场前 25% 的股息支付者相比，股息较低。</li>
</ul>
</div><p><strong>Opportunity</strong></p>
<div class="lb-trans"><p><strong>机会</strong></p>
</div><ul>
<li>Annual earnings are forecast to grow faster than the Hong Kong market.</li>
</ul>
<div class="lb-trans"><ul>
<li>年度盈利预计将比香港市场增长更快。</li>
</ul>
</div><ul>
<li>Good value based on P/E ratio and estimated fair value.</li>
</ul>
<div class="lb-trans"><ul>
<li>基于市盈率和估计公允价值的良好价值。</li>
</ul>
</div><p><strong>Threat</strong></p>
<div class="lb-trans"><p><strong>威胁</strong></p>
</div><ul>
<li>Dividends are not covered by cash flow.</li>
</ul>
<div class="lb-trans"><ul>
<li>股息未被现金流覆盖。</li>
</ul>
</div><p>See 2291's dividend history.</p>
<div class="lb-trans"><p>查看 2291 的股息历史。</p>
</div><h2>Next Steps:</h2>
<div class="lb-trans"><h2>下一步：</h2>
</div><p>Valuation is only one side of the coin in terms of building your investment thesis, and it ideally won't be the sole piece of analysis you scrutinize for a company. The DCF model is not a perfect stock valuation tool. Instead the best use for a DCF model is to test certain assumptions and theories to see if they would lead to the company being undervalued or overvalued. For instance, if the terminal value growth rate is adjusted slightly, it can dramatically alter the overall result. For LEPU ScienTech Medical Technology (Shanghai), we've compiled three further elements you should further research:</p>
<div class="lb-trans"><p>估值只是构建投资论点的一方面，理想情况下，它不会是你对一家公司进行审查的唯一分析工具。DCF 模型并不是一个完美的股票估值工具。相反，DCF 模型的最佳用途是测试某些假设和理论，以查看它们是否会导致公司被低估或高估。例如，如果终值增长率稍作调整，可能会显著改变整体结果。对于乐普医疗科技（上海），我们整理了三个你应该进一步研究的要素：</p>
</div><ol>
<li><strong>Risks</strong>: We feel that you should assess the <strong>1 warning sign for LEPU ScienTech Medical Technology (Shanghai)</strong> we've flagged before making an investment in the company.</li>
<li><strong>Future Earnings</strong>: How does 2291's growth rate compare to its peers and the wider market? Dig deeper into the analyst consensus number for the upcoming years by interacting with our free analyst growth expectation chart.</li>
<li><strong>Other High Quality Alternatives</strong>: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing!</li>
</ol>
<div class="lb-trans"><ol>
<li><strong>风险</strong>：我们认为在投资乐普医疗科技（上海）之前，你应该评估我们标记的 <strong>1 个警告信号</strong>。</li>
<li><strong>未来收益</strong>：2291 的增长率与其同行和更广泛市场相比如何？通过与我们的免费分析师增长预期图表互动，深入了解未来几年的分析师共识数字。</li>
<li><strong>其他高质量替代品</strong>：你喜欢全能型股票吗？探索我们的高质量股票互动列表，了解你可能错过的其他投资机会！</li>
</ol>
</div><p>PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the SEHK every day. If you want to find the calculation for other stocks just search here.</p>
<div class="lb-trans"><p>PS. Simply Wall St 应用程序每天对香港证券交易所的每只股票进行折现现金流估值。如果你想找到其他股票的计算方法，请在这里搜索。</p>
</div>

计算乐普心泰医疗科技（上海）股份有限公司（HKG:2291）的合理价值