The Discounted Cash Flow (DCF) valuation of Gettop Acoustic Co Ltd (002655.SZ) is 9.68 CNY. With the latest stock price at 13.28 CNY, the upside of Gettop Acoustic Co Ltd based on DCF is -27.1%.

Is 002655.SZ a buy or a sell?

Based on the latest price of 13.28 CNY and our DCF valuation, Gettop Acoustic Co Ltd (002655.SZ) is a sell. Selling 002655.SZ stocks now will result in a potential gain of 27.1%.

	Range	Selected
WACC / Discount Rate	9.4% - 11.5%	10.4%
Long-term Growth Rate	3.0% - 5.0%	4.0%
Fair Price	7.34 - 14.19	9.68
Upside	-44.7% - 6.9%	-27.1%

13.28 CNY

Stock Price

9.68 CNY

Fair Price

REVENUE & EXPENSES

CAPEX

D&A

WORKING CAPITAL

TERMINAL VALUE

002655.SZ DCF Valuation: Revenue & Expenses Forecast

(CNY in millions)		Projections

	12-2024	12-2025	12-2026	12-2027	12-2028	12-2029

Revenue	1,208	1,286	1,354	1,416	1,508	1,539
% Growth	21%	7%	5%	5%	7%	2%

Cost of goods sold	(912)	(923)	(924)	(917)	(928)	(899)
% of Revenue	76%	72%	68%	65%	62%	58%

Selling, G&A expenses	(110)	(117)	(123)	(129)	(137)	(140)
% of Revenue	9%	9%	9%	9%	9%	9%

Research & Development	(65)	(69)	(73)	(76)	(81)	(83)
% of Revenue	5%	5%	5%	5%	5%	5%

Net interest & other expenses	(21)	(23)	(24)	(25)	(27)	(27)
% of Revenue	2%	2%	2%	2%	2%	2%

Tax expense	(14)	(11)	(15)	(19)	(24)	(27)
Tax rate	14%	7%	7%	7%	7%	7%

Net profit	85	143	196	250	312	362
% Margin	7%	11%	14%	18%	21%	24%