Hifiman Kunshan Technology Group Co (BJSE:920183) Beneish M-Score: 0.00 (As of Aug. 21, 2026)

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BJSE:920183 Hifiman Kunshan Technology Group Co Ltd BJSE:920183
21 GF Score
Price ¥28.25
! 2 Warning Signs
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What is Hifiman Kunshan Technology Group Co Beneish M-Score?

Hifiman Kunshan Technology Group Co BJSE:920183 21 Beneish M-Score is 0.00 as of Aug. 21, 2026. GuruFocus rates BJSE:920183 with a GF Score™ of 21/100. The stock has 2 warning signs investors should review. Among 2,404 Hardware companies, Hifiman Kunshan Technology Group Co ranks worse than 41597.3% on this metric.

The zones of discrimination for M-Score is as such:

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.

The historical rank and industry rank for Hifiman Kunshan Technology Group Co's Beneish M-Score or its related term are showing as below:

During the past 5 years, the highest Beneish M-Score of Hifiman Kunshan Technology Group Co was -2.52. The lowest was -2.52. And the median was -2.52.

Hifiman Kunshan Technology Group Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Hifiman Kunshan Technology Group Co'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.

Hifiman Kunshan Technology Group Co Beneish M-Score Chart

Hifiman Kunshan Technology Group Co Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00 0.00 -2.52

Hifiman Kunshan Technology Group Co Quarterly Data
Dec21 Dec22 Dec23 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 -2.52 0.00

BJSE:920183 vs AAPL: Beneish M-Score Comparison

For the Consumer Electronics subindustry, Hifiman Kunshan Technology Group Co'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.

Hifiman Kunshan Technology Group Co Beneish M-Score vs Hardware Industry

For the Hardware industry and Technology sector, Hifiman Kunshan Technology Group Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Hifiman Kunshan Technology Group Co's Beneish M-Score falls into.


BJSE:920183
21GF Score
Hifiman Kunshan Technology Group Co Ltd BJSE:920183
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Hifiman Kunshan Technology Group Co 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 Hifiman Kunshan Technology Group Co 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was ¥24.5 Mil.
Revenue was 63.682 + 74.976 + 57.031 + 52.402 = ¥248.1 Mil.
Gross Profit was 42.974 + -3.721 + 92.69 + 34.602 = ¥166.5 Mil.
Total Current Assets was ¥450.9 Mil.
Total Assets was ¥525.0 Mil.
Property, Plant and Equipment(Net PPE) was ¥48.2 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0.0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥47.2 Mil.
Total Current Liabilities was ¥42.0 Mil.
Long-Term Debt & Capital Lease Obligation was ¥3.1 Mil.
Net Income was 18.802 + 24.466 + 15.647 + 15.874 = ¥74.8 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0.0 Mil.
Cash Flow from Operations was 16.092 + 43.284 + 14.881 + 13.427 = ¥87.7 Mil.
 Total Receivables was ¥0.0 Mil.
Revenue was 55.01 + 81.516 + 56.291 + 0 = ¥192.8 Mil.
Gross Profit was 37.151 + 13.713 + 83.937 + 0 = ¥134.8 Mil.
Total Current Assets was ¥0.0 Mil.
Total Assets was ¥0.0 Mil.
Property, Plant and Equipment(Net PPE) was ¥0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0.0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥15.4 Mil.
Total Current Liabilities was ¥0.0 Mil.
Long-Term Debt & Capital Lease Obligation was ¥0.0 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)
=(24.547 / 248.091) / (0 / 192.817)
=0.098944 / 0
=

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)
=(134.801 / 192.817) / (166.545 / 248.091)
=0.699114 / 0.671306
=

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 - (450.929 + 48.193) / 524.992) / (1 - (0 + 0) / 0)
=0.049277 /
=

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
=248.091 / 192.817
=

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))
=(0 / (0 + 0)) / (0 / (0 + 48.193))
= / 0
=

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)
=(47.169 / 248.091) / (15.434 / 192.817)
=0.190128 / 0.080045
=

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)
=((3.097 + 42.028) / 524.992) / ((0 + 0) / 0)
=0.085954 /
=

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
=(74.789 - 0 - 87.684) / 524.992
=-0.024562

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Hifiman Kunshan Technology Group Co (BJSE:920183) has a Beneish M-Score of 0.00 as of Aug. 21, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Hifiman Kunshan Technology Group Co and its competitors. According to the industry distribution chart, Hifiman Kunshan Technology Group Co ranks #999999 out of 2404 companies in the Hardware industry.
Is Hifiman Kunshan Technology Group Co's Beneish M-Score too high?
Hifiman Kunshan Technology Group Co's current Beneish M-Score is 0.00. Based on the distribution chart, Hifiman Kunshan Technology Group Co ranks #999999 out of 2404 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Hifiman Kunshan Technology Group Co has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does Hifiman Kunshan Technology Group Co's Beneish M-Score compare to AAPL?
According to the Hardware industry distribution chart, Hifiman Kunshan Technology Group Co ranks #999999 out of 2404 companies for Beneish M-Score. This places Hifiman Kunshan Technology Group Co in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Hardware company?
A good Beneish M-Score depends on the Hardware industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Hifiman Kunshan Technology Group Co and its competitors. Hifiman Kunshan Technology Group Co's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hifiman Kunshan Technology Group Co stock overvalued right now?
Hifiman Kunshan Technology Group Co (BJSE:920183) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Hifiman Kunshan Technology Group Co's overall GF Score™ is 21/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Hifiman Kunshan Technology Group Co (BJSE:920183), the current Beneish M-Score is 0.00 as of Aug. 21, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Hifiman Kunshan Technology Group Co Business Description

Address No. 2001, Yingbin West Road, Bacheng Town, Jiangsu Province, Kunshan, CHN, 215300
Hifiman Kunshan Technology Group Co Ltd is engaged in the design, research and development, production, and sales of audio equipment and related electronic products under its 'HIFIMAN' brand. Its activities include research and development of consumer electronics and audio products, manufacturing and sale of audio equipment and electronic components, software development and sales, technical services and consulting, and the import and export of goods and technologies. The company's offerings include Headphones, Portable Players, Earphones and Amplifiers.
21GF Score

Get the complete analysis for BJSE:920183

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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