Zhongsheng Group Holdings Beneish M-Score Historical Data
The historical data trend for Zhongsheng Group Holdings's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Zhongsheng Group Holdings Beneish M-Score Chart
|
Zhongsheng Group Holdings Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.67 |
-2.54 |
-2.46 |
-1.90 |
- |
|
Zhongsheng Group Holdings Semi-Annual Data
|
|
Jun14 |
Dec14 |
Jun15 |
Dec15 |
Jun16 |
Dec16 |
Jun17 |
Dec17 |
Jun18 |
Dec18 |
Jun19 |
Dec19 |
Jun20 |
Dec20 |
Jun21 |
Dec21 |
Jun22 |
Dec22 |
Jun23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.46 |
- |
-1.90 |
- |
- |
Competitive Comparison of Zhongsheng Group Holdings's Beneish M-Score
For the Auto & Truck Dealerships subindustry, Zhongsheng Group Holdings's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Zhongsheng Group Holdings's Beneish M-Score Distribution in the Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Zhongsheng Group Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Zhongsheng Group Holdings's Beneish M-Score falls into.
Zhongsheng Group Holdings Beneish M-Score Calculation
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Zhongsheng Group Holdings for today is based on a combination of the following eight different indices:
| M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
| = | -4.84 | + | 0.92 * 1.7615 | + | 0.528 * 1.1834 | + | 0.404 * 0.9245 | + | 0.892 * 0.9368 | + | 0.115 * 0.8494 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0279 | + | 4.679 * -0.023057 | - | 0.327 * 0.9952 |
| = | -1.90 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
| This Year (Dec22) TTM: | Last Year (Dec21) TTM: |
Total Receivables was HK$19,943 Mil.
Revenue was HK$200,849 Mil.
Gross Profit was HK$17,903 Mil.
Total Current Assets was HK$52,299 Mil.
Total Assets was HK$102,547 Mil.
Property, Plant and Equipment(Net PPE) was HK$24,866 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$3,184 Mil.
Selling, General, & Admin. Expense(SGA) was HK$11,488 Mil.
Total Current Liabilities was HK$32,264 Mil.
Long-Term Debt & Capital Lease Obligation was HK$17,282 Mil.
Net Income was HK$7,446 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$9,810 Mil.
|
Total Receivables was HK$12,086 Mil.
Revenue was HK$214,408 Mil.
Gross Profit was HK$22,615 Mil.
Total Current Assets was HK$49,404 Mil.
Total Assets was HK$104,660 Mil.
Property, Plant and Equipment(Net PPE) was HK$27,237 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$2,907 Mil.
Selling, General, & Admin. Expense(SGA) was HK$11,930 Mil.
Total Current Liabilities was HK$34,751 Mil.
Long-Term Debt & Capital Lease Obligation was HK$16,059 Mil.
|
1. DSRI = Days Sales in Receivables Index
Measured as the ratio of Revenue in Total Receivables in year t to year t-1.
A large increase in DSR could be indicative of revenue inflation.
| DSRI | = | (Receivables_t / Revenue_t) | / | (Receivables_t-1 / Revenue_t-1) |
| = | (19942.767 / 200848.928) | / | (12085.896 / 214407.985) |
| = | 0.099292 | / | 0.056369 |
| | = | 1.7615 |
2. GMI = Gross Margin Index
Measured as the ratio of gross margin in year t-1 to gross margin in year t.
Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.
| GMI | = | GrossMargin_t-1 | / | GrossMargin_t |
| = | (GrossProfit_t-1 / Revenue_t-1) | / | (GrossProfit_t / Revenue_t) |
| = | (22615.367 / 214407.985) | / | (17902.718 / 200848.928) |
| = | 0.105478 | / | 0.089135 |
| | = | 1.1834 |
3. AQI = Asset Quality Index
AQI is the ratio of asset quality in year t to year t-1.
Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.
| AQI | = | (1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) | / | (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1) |
| = | (1 - (52298.908 + 24866.358) / 102547.264) | / | (1 - (49403.509 + 27237.449) / 104660.19) |
| = | 0.247515 | / | 0.267716 |
| | = | 0.9245 |
4. SGI = Sales Growth Index
Ratio of Revenue in year t to sales in year t-1.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
| SGI | = | Sales_t | / | Sales_t-1 |
| = | Revenue_t | / | Revenue_t-1 |
| = | 200848.928 | / | 214407.985 |
| | = | 0.9368 |
5. DEPI = Depreciation Index
Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
| DEPI | = | (Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) | / | (Depreciation_t / (Depreciaton_t + PPE_t)) |
| = | (2906.513 / (2906.513 + 27237.449)) | / | (3184.098 / (3184.098 + 24866.358)) |
| = | 0.096421 | / | 0.113513 |
| | = | 0.8494 |
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.
SGA expenses index > 1 means that the company is becoming less efficient in generate sales.
| SGAI | = | (SGA_t / Sales_t) | / | (SGA_t-1 /Sales_t-1) |
| = | (11487.533 / 200848.928) | / | (11929.797 / 214407.985) |
| = | 0.057195 | / | 0.055641 |
| | = | 1.0279 |
7. LVGI = Leverage Index
The ratio of total debt to Total Assets in year t relative to yeat t-1.
An LVGI > 1 indicates an increase in leverage
| LVGI | = | ((LTD_t + CurrentLiabilities_t) / TotalAssets_t) | / | ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1) |
| = | ((17281.658 + 32263.78) / 102547.264) | / | ((16058.657 + 34751.472) / 104660.19) |
| = | 0.483147 | / | 0.485477 |
| | = | 0.9952 |
8. TATA = Total Accruals to Total Assets
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
| TATA | = | (IncomefromContinuingOperations_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
| = | (NetIncome_t - NonOperatingIncome_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
| = | (7445.757 - 0 | - | 9810.151) | / | 102547.264 |
| | = | -0.023057 |
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Zhongsheng Group Holdings has a M-score of -1.90 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
HKSE:00881 has been successfully added to your