The Discounted Cash Flow (DCF) valuation of Jade Bird Fire Co Ltd (002960.SZ) is 8.61 CNY. With the latest stock price at 9.96 CNY, the upside of Jade Bird Fire Co Ltd based on DCF is -13.6%.

Is 002960.SZ a buy or a sell?

Based on the latest price of 9.96 CNY and our DCF valuation, Jade Bird Fire Co Ltd (002960.SZ) is a sell. Selling 002960.SZ stocks now will result in a potential gain of 13.6%.

	Range	Selected
WACC / Discount Rate	9.1% - 12.3%	10.7%
Long-term Growth Rate	1.0% - 3.0%	2.0%
Fair Price	7.09 - 11.38	8.61
Upside	-28.8% - 14.3%	-13.6%

9.96 CNY

Stock Price

8.61 CNY

Fair Price

REVENUE & EXPENSES

CAPEX

D&A

WORKING CAPITAL

TERMINAL VALUE

002960.SZ DCF Valuation: Revenue & Expenses Forecast

(CNY in millions)		Projections

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

Revenue	4,923	5,270	5,863	6,786	7,577	8,248
% Growth	1%	7%	11%	16%	12%	9%

Cost of goods sold	(3,124)	(3,278)	(3,573)	(4,053)	(4,435)	(4,731)
% of Revenue	63%	62%	61%	60%	59%	57%

Selling, G&A expenses	(1,082)	(1,158)	(1,288)	(1,491)	(1,665)	(1,813)
% of Revenue	22%	22%	22%	22%	22%	22%

Research & Development	(237)	(254)	(282)	(327)	(365)	(397)
% of Revenue	5%	5%	5%	5%	5%	5%

Net interest & other expenses	(35)	(37)	(42)	(48)	(54)	(58)
% of Revenue	1%	1%	1%	1%	1%	1%

Tax expense	(83)	(64)	(80)	(103)	(125)	(148)
Tax rate	19%	12%	12%	12%	12%	12%

Net profit	362	479	597	764	933	1,100
% Margin	7%	9%	10%	11%	12%	13%