year

2023

2024

2025

2026

2027

total

free cash flows to the firm/RMB 100 Million

68.46

84.63

104.63

129.35

159.92

discount factor

0.9033

0.8159

0.7370

0.6657

0.6013

present value/RMB 100 Million

61.84

69.05

77.11

86.11

96.16

390.27