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Hong Yuan Hldg Group (OTCPK:HGYN) Beneish M-Score

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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 Hong Yuan Hldg Group's Beneish M-Score or its related term are showing as below:

During the past 10 years, the highest Beneish M-Score of Hong Yuan Hldg Group was 9.52. The lowest was -17.03. And the median was -3.02.


Hong Yuan Hldg Group (OTCPK:HGYN) Beneish M-Score Historical Data

The historical data trend for Hong Yuan Hldg Group'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.

* Premium members only.

Hong Yuan Hldg Group Annual Data
Trend Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec20 Dec21
Beneish M-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 4.17 1.24 -17.03 - -

Hong Yuan Hldg Group Quarterly Data
Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22
Beneish M-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - - - -

Hong Yuan Hldg Group (OTCPK:HGYN) Beneish M-Score Competitive Comparison

For the Shell Companies subindustry, Hong Yuan Hldg Group'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.

   

Hong Yuan Hldg Group (OTCPK:HGYN) Beneish M-Score Distribution

For the Diversified Financial Services industry and Financial Services sector, Hong Yuan Hldg Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Hong Yuan Hldg Group's Beneish M-Score falls into.



Hong Yuan Hldg Group 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 Hong Yuan Hldg Group 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 (Sep22) TTM:Last Year (Sep21) TTM:
Total Receivables was $ Mil.
Revenue was + + + = $ Mil.
Gross Profit was + + + = $ Mil.
Total Current Assets was $ Mil.
Total Assets was $ Mil.
Property, Plant and Equipment(Net PPE) was $ Mil.
Depreciation, Depletion and Amortization(DDA) was $ Mil.
Selling, General, & Admin. Expense(SGA) was $ Mil.
Total Current Liabilities was $ Mil.
Long-Term Debt & Capital Lease Obligation was $ Mil.
Net Income was + + + = $ Mil.
Non Operating Income was + + + = $ Mil.
Cash Flow from Operations was + + + = $ Mil.
Total Receivables was $ Mil.
Revenue was 0 + 0 + 0 + 0 = $ Mil.
Gross Profit was + + + = $ Mil.
Total Current Assets was $ Mil.
Total Assets was $ Mil.
Property, Plant and Equipment(Net PPE) was $ Mil.
Depreciation, Depletion and Amortization(DDA) was $ Mil.
Selling, General, & Admin. Expense(SGA) was $ Mil.
Total Current Liabilities was $ Mil.
Long-Term Debt & Capital Lease Obligation was $ 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)
=( / ) / ( / 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)
=( / 0) / ( / )
= /
=

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 - ( + 0) / ) / (1 - ( + 0) / )
= /
=

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
= / 0
=

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

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)
=(( + ) / ) / (( + ) / )
= /
=

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
=( - - ) /
=

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.


Hong Yuan Hldg Group Beneish M-Score Related Terms

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Hong Yuan Hldg Group (OTCPK:HGYN) Business Description

Hong Yuan Hldg Group logo
Traded in Other Exchanges
N/A
Address
Zhengbian Road, Room 2707 Global Mansion, Zhengzhou, CHN, 450000
Hong Yuan Hldg Group, formerly Cereplast Inc is a shell company.
Executives
Okamoto Kelvin T officer: Chief Technology Officer 2213 KILLION AVENUE SEYMOUR IN 47274
Okada Michael officer: See Remarks 300 N. CONTINENTAL BLVD. #100 EL SEGUNDO CA 90245
Hunt Franklin L director 300 N CONTINENTAL BLVD SUITE 100 EL SEGUNDO CA 90245
Hanni Steve director
Barton Mark officer: Senior V.P. - Manufacturing 3421-3433 EL SEGUNDO BLVD. HAWTHORNE CA 90250
Sheehan Heather E officer: V.P., Chief Accounting Officer 3411 W. EL SEGUNDO BLVD. HAWTHORNE CA 90250
Vincent Jacques director 3411-3433 W. EL SEGUNDO BLVD. HAWTHORNE CA 90250
Bash Thomas officer: V.P. Process & Engineering 3421-3433 W. EL SEGUNDO BLVD. HAWTHORNE CA 90250
Bagrodia Shriram officer: Sr.V.P. R&D Blends & Chemistry 3421-3433 W. EL SEGUNDO BLVD. HAWTHORNE CA 90250
Mcmurray Margaret officer: Chief Administrative Officer 3421-3433 W. EL SEGUNDO BLVD. HAWTHORNE CA 90250
Kitsos Petros director 1901 AVENUE OF THE STARS SUITE 200 LOS ANGELES CA 90067
Woelfel Randy officer: President & COO 3411-3433 W. EL SEGUNDO BLVD. HAWTHORNE CA 90250
Kelly William E officer: Sr. V.P. - Technology 3421-3433 WEST EL SEGUNDO BOULEVARD HAWTHORNE CA 90250
Hoop Charles officer: Chief Operating Officer 3421-3433 WEST EL SEGUNDO BOULEVARD HAWTHORNE CA 90250
Larrivee Gary officer: VP - Technology Support 21345 HAWTHORNE BLVD. UNIT 414 TORRANCE CA 90503

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