We have a reasonable assumption that the market premium of 50%, calculated by reference to International A shares of Alcoa reasonable PB 1.1 times the limit down to 0.8 times that of PB.

• 我们假设市场合理溢价为50%25，参照国际公司计算的A股铝业公司合理PB为1.；1倍，下跌极限PB为0