Yanchang Petroleum International (HKSE:00346) Beneish M-Score: 32.53 (As of Jul. 25, 2026)

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Yanchang Petroleum International Ltd HKSE:00346

25 GF Score

Price HK$0.29

GF Value HK$0.21

Valuation Significantly Overvalued

5 Warning Signs

View Full Analysis

What is Yanchang Petroleum International Beneish M-Score?

Yanchang Petroleum International HKSE:00346 +1.75% 25 Beneish M-Score is 32.53 as of Jul. 25, 2026. GuruFocus rates HKSE:00346 with a GF Score™ of 25/100 and a GF Value™ of HK$0.21 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 822 Oil & Gas companies, Yanchang Petroleum International ranks worse than 99.27% 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.

Warning Sign:

Beneish M-Score 32.53 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Yanchang Petroleum International's Beneish M-Score or its related term are showing as below:

HKSE:00346' s Beneish M-Score Range Over the Past 10 Years
Min: -3.47 Med: -1.91 Max: 32.53
Current: 32.53

During the past 13 years, the highest Beneish M-Score of Yanchang Petroleum International was 32.53. The lowest was -3.47. And the median was -1.91.

Yanchang Petroleum International Beneish M-Score Related Terms

Yanchang Petroleum International Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Yanchang Petroleum International'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.

Yanchang Petroleum International Beneish M-Score Chart

Yanchang Petroleum International Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-1.84

-1.74

-2.12

-2.88

32.53

Yanchang Petroleum International Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Beneish M-Score	Get a 7-Day Free Trial															-2.12	0.00	-2.88	0.00	32.53

HKSE:00346 vs XOM, CVX: Beneish M-Score Comparison

For the Oil & Gas Integrated subindustry, Yanchang Petroleum International'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.

Yanchang Petroleum International Beneish M-Score vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Yanchang Petroleum International's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Yanchang Petroleum International's Beneish M-Score falls into.

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Yanchang Petroleum International Ltd HKSE:00346

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Yanchang Petroleum International 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 Yanchang Petroleum International for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 4.0537

0.528 * 65.375

0.404 * 0.1652

0.892 * 0.5937

0.115 * 0.878

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.3622

4.679 * -0.17999

0.327 * 1.5279

32.53

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was HK$1,109 Mil.
Revenue was HK$17,327 Mil.
Gross Profit was HK$1 Mil.
Total Current Assets was HK$1,505 Mil.
Total Assets was HK$2,764 Mil.
Property, Plant and Equipment(Net PPE) was HK$1,247 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$127 Mil.
Selling, General, & Admin. Expense(SGA) was HK$87 Mil.
Total Current Liabilities was HK$1,507 Mil.
Long-Term Debt & Capital Lease Obligation was HK$488 Mil.
Net Income was HK$-759 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$-261 Mil.

Total Receivables was HK$461 Mil.
Revenue was HK$29,185 Mil.
Gross Profit was HK$92 Mil.
Total Current Assets was HK$874 Mil.
Total Assets was HK$2,800 Mil.
Property, Plant and Equipment(Net PPE) was HK$1,857 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$163 Mil.
Selling, General, & Admin. Expense(SGA) was HK$108 Mil.
Total Current Liabilities was HK$817 Mil.
Long-Term Debt & Capital Lease Obligation was HK$506 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)
	=	(1109.319 / 17326.524)	/	(460.939 / 29184.915)
	=	0.064024	/	0.015794
	=	4.0537

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)
	=	(91.572 / 29184.915)	/	(0.837 / 17326.524)
	=	0.003138	/	4.8E-5
	=	65.375

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 - (1505.378 + 1247.186) / 2763.929)	/	(1 - (873.762 + 1856.546) / 2799.999)
	=	0.004112	/	0.02489
	=	0.1652

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
	=	17326.524	/	29184.915
	=	0.5937

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))
	=	(163.402 / (163.402 + 1856.546))	/	(126.575 / (126.575 + 1247.186))
	=	0.080894	/	0.092138
	=	0.878

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)
	=	(87.439 / 17326.524)	/	(108.125 / 29184.915)
	=	0.005047	/	0.003705
	=	1.3622

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)
	=	((488.294 + 1506.937) / 2763.929)	/	((506.004 + 816.878) / 2799.999)
	=	0.721882	/	0.472458
	=	1.5279

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
	=	(-758.613 - 0	-	-261.133)	/	2763.929
	=	-0.17999

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.

Yanchang Petroleum International has a M-score of 32.53 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 32.53 mean?

Yanchang Petroleum International (HKSE:00346) has a Beneish M-Score of 32.53 as of Jul. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Yanchang Petroleum International and its competitors. According to the industry distribution chart, Yanchang Petroleum International ranks #816 out of 822 companies in the Oil & Gas industry, placing it in the top 99.3%.

Is Yanchang Petroleum International's Beneish M-Score too high?

Yanchang Petroleum International's current Beneish M-Score is 32.53. Based on the distribution chart, Yanchang Petroleum International ranks #816 out of 822 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Yanchang Petroleum International has a GF Score™ of 25/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Yanchang Petroleum International's Beneish M-Score compare to XOM and CVX?

According to the Oil & Gas industry distribution chart, Yanchang Petroleum International ranks #816 out of 822 companies for Beneish M-Score. This places Yanchang Petroleum International 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 an Oil & Gas company?

A good Beneish M-Score depends on the Oil & Gas 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 Yanchang Petroleum International and its competitors. Yanchang Petroleum International's current Beneish M-Score is 32.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Yanchang Petroleum International stock overvalued right now?

Based on GuruFocus' analysis, Yanchang Petroleum International (HKSE:00346) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.21, compared to a current price of HK$0.29 — trading 38.1% above its estimated fair value. The current Beneish M-Score is 32.53. Yanchang Petroleum International's overall GF Score™ is 25/100 with 5 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 Yanchang Petroleum International (HKSE:00346), the current Beneish M-Score is 32.53 as of Jul. 25, 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.

Is Yanchang Petroleum International (HKSE:00346) Overvalued in 2026?

Based on GuruFocus' analysis, Yanchang Petroleum International stock appears to be overvalued. The current stock price of HK$0.29 is trading 38.1% above its estimated GF Value™ of HK$0.21. GuruFocus considers Yanchang Petroleum International to be Significantly Overvalued.

Key valuation signals for HKSE:00346:

Beneish M-Score: 32.53
GF Value™: HK$0.21 vs. price of HK$0.29 (38.1% above fair value)
GF Score™: 25/100 with 5 warning signs

No single metric tells the full story. See the HKSE:00346 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Yanchang Petroleum International Business Description

Industry Energy Oil & Gas

Comparable Companies HKSE:08270 HKSE:01251 HKSE:00332 HKSE:00228 SAU:2222 XOM CVX SHSE:601857 LSE:SHEL XPAR:TTE BSP:PETR3 LSE:BP.OSL:EQNR HKSE:00386 ADX:ADNOCGAS MIL:ENI TSX:SU TSX:IMO TSX:CVE WAR:PKN

Address 33 Hysan Avenue, Causeway Bay, Room 3403, 34th Floor, Lee Garden One, Hong Kong, HKG

Website https://www.yanchanginternational.com

Yanchang Petroleum International Ltd is engaged in supply and procurement operations of oil-related products in the PRC as well as oil and gas exploration, exploitation, sale, and operation in Canada and Madagascar. The operating segments of the company are Exploration, exploitation, and operation, which comprises the oil and gas exploration, exploitation, sale, and operation; and the Supply and procurement business segment involves storage, transportation, trading, and distribution of oil-related products. It generates maximum revenue from the supply and procurement segment. Geographically, it derives the majority of its revenue from the PRC and also has operations in Canada, Hong Kong, and other countries.

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

HK$0.29

Price

HK$0.21

GF Value

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