关于H model的问题

NO.PZ2018103102000046问题如下Jacques is the portfolio manager of pension anshe consirs aing PZ Into her portfolio. Previously, she believethe company woulhave extraornary growth for 4 years annormgrowth thereafter. After carefully consiring the characteristiof the company anits competitors, she is wonring whthe consequences woulif the ration of the first stage wassumeto 8 years insteof 4, with all the other assumptions/estimates remaining the same. Whiof the following statement is true?Statement 1: If the H mol is use the totvalue estimatewoulincrease.Statement 2: using M, the proportion of the totvalue of the storepresentethe seconstage woulnot change.Statement 1. Statement 2. Both of it. A is correct.考点M H-mol解析A是正确的。Statement 2错在如果较高的增长率将持续更长的时间，那么股票的价值就会上升。我的理解是在永续经营的假设下，第一阶段只是增加了四年，第二阶段仍然是经对的大头，姥第二阶段的占比变化是否可以忽略不计，那么第二项也可以是正确的？

NO.PZ2018103102000046 问题如下 Jacques is the portfolio manager of pension anshe consirs aing PZ Into her portfolio. Previously, she believethe company woulhave extraornary growth for 4 years annormgrowth thereafter. After carefully consiring the characteristiof the company anits competitors, she is wonring whthe consequences woulif the ration of the first stage wassumeto 8 years insteof 4, with all the other assumptions/estimates remaining the same. Whiof the following statement is true?Statement 1: If the H mol is use the totvalue estimatewoulincrease.Statement 2: using M, the proportion of the totvalue of the storepresentethe seconstage woulnot change. Statement 1. Statement 2. Both of it. A is correct.考点M H-mol解析A是正确的。Statement 2错在如果较高的增长率将持续更长的时间，那么股票的价值就会上升。 看了所有分析，突然有点混淆。这个H Mol用在第一阶段还是第二阶段，因为第一阶段的高速增长看起来是持续的，不应该用三角，那么三角面积小于矩形面积，不是应该低估价值吗。statement1 也不是在问4年和8年的区别而是H mol导致的区别。

NO.PZ2018103102000046 问题如下 Jacques is the portfolio manager of pension anshe consirs aing PZ Into her portfolio. Previously, she believethe company woulhave extraornary growth for 4 years annormgrowth thereafter. After carefully consiring the characteristiof the company anits competitors, she is wonring whthe consequences woulif the ration of the first stage wassumeto 8 years insteof 4, with all the other assumptions/estimates remaining the same. Whiof the following statement is true?Statement 1: If the H mol is use the totvalue estimatewoulincrease.Statement 2: using M, the proportion of the totvalue of the storepresentethe seconstage woulnot change. Statement 1. Statement 2. Both of it. A is correct.考点M H-mol解析A是正确的。Statement 2错在如果较高的增长率将持续更长的时间，那么股票的价值就会上升。 如题

NO.PZ2018103102000046 statement 2的是不是应该是，总的value会上升，但是stage 2所占的比例会减少？