Wong's Kong King International (Holdings) (HKSE:00532) Beneish M-Score: -2.77 (As of Aug. 09, 2026)

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HKSE:00532 Wong's Kong King International (Holdings) Ltd HKSE:00532
37 GF Score
Price HK$0.31
GF Value HK$0.42
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Wong's Kong King International (Holdings) Beneish M-Score?

Wong's Kong King International (Holdings) HKSE:00532 +3.33% 37 Beneish M-Score is -2.77 as of Aug. 09, 2026. GuruFocus rates HKSE:00532 with a GF Score™ of 37/100 and a GF Value™ of HK$0.42 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 2,398 Hardware companies, Wong's Kong King International (Holdings) ranks better than 73.14% 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.

Good Sign:

Beneish M-Score -2.77 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Wong's Kong King International (Holdings)'s Beneish M-Score or its related term are showing as below:

HKSE:00532' s Beneish M-Score Range Over the Past 10 Years
Min: -3.21   Med: -2.67   Max: -1.73
Current: -2.77

During the past 13 years, the highest Beneish M-Score of Wong's Kong King International (Holdings) was -1.73. The lowest was -3.21. And the median was -2.67.

Wong's Kong King International (Holdings) Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Wong's Kong King International (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.

Wong's Kong King International (Holdings) Beneish M-Score Chart

Wong's Kong King International (Holdings) Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.22 -2.30 -3.05 -2.85 -2.77

Wong's Kong King International (Holdings) 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 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 -3.05 0.00 -2.85 0.00 -2.77

HKSE:00532 vs APH, GLW, TEL: Beneish M-Score Comparison

For the Electronic Components subindustry, Wong's Kong King International (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.

Wong's Kong King International (Holdings) Beneish M-Score vs Hardware Industry

For the Hardware industry and Technology sector, Wong's Kong King International (Holdings)'s Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Wong's Kong King International (Holdings)'s Beneish M-Score falls into.


HKSE:00532
37GF Score
Wong's Kong King International (Holdings) Ltd HKSE:00532
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Wong's Kong King International (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 Wong's Kong King International (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 * 0.9684+0.528 * 0.9378+0.404 * 0.916+0.892 * 1.0662+0.115 * 0.9477
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9721+4.679 * -0.049909-0.327 * 1.0665
=-2.77

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was HK$1,093 Mil.
Revenue was HK$3,674 Mil.
Gross Profit was HK$866 Mil.
Total Current Assets was HK$2,411 Mil.
Total Assets was HK$2,991 Mil.
Property, Plant and Equipment(Net PPE) was HK$410 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$60 Mil.
Selling, General, & Admin. Expense(SGA) was HK$59 Mil.
Total Current Liabilities was HK$1,506 Mil.
Long-Term Debt & Capital Lease Obligation was HK$41 Mil.
Net Income was HK$-55 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$94 Mil.
 Total Receivables was HK$1,058 Mil.
Revenue was HK$3,446 Mil.
Gross Profit was HK$761 Mil.
Total Current Assets was HK$2,257 Mil.
Total Assets was HK$2,906 Mil.
Property, Plant and Equipment(Net PPE) was HK$468 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$64 Mil.
Selling, General, & Admin. Expense(SGA) was HK$57 Mil.
Total Current Liabilities was HK$1,354 Mil.
Long-Term Debt & Capital Lease Obligation was HK$54 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)
=(1092.591 / 3674.091) / (1058.228 / 3446.033)
=0.297377 / 0.307086
=0.9684

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)
=(761.361 / 3446.033) / (865.614 / 3674.091)
=0.220938 / 0.235599
=0.9378

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 - (2410.993 + 410.212) / 2990.907) / (1 - (2257.316 + 468.346) / 2905.646)
=0.056739 / 0.061943
=0.916

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
=3674.091 / 3446.033
=1.0662

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))
=(64.377 / (64.377 + 468.346)) / (59.95 / (59.95 + 410.212))
=0.120845 / 0.127509
=0.9477

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)
=(59.243 / 3674.091) / (57.16 / 3446.033)
=0.016125 / 0.016587
=0.9721

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)
=((40.783 + 1505.572) / 2990.907) / ((54.18 + 1354.392) / 2905.646)
=0.517019 / 0.484771
=1.0665

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
=(-55.323 - 0 - 93.951) / 2990.907
=-0.049909

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.

Wong's Kong King International (Holdings) has a M-score of -2.77 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.77 mean?
Wong's Kong King International (Holdings) (HKSE:00532) has a Beneish M-Score of -2.77 as of Aug. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Wong's Kong King International (Holdings) and its competitors. According to the industry distribution chart, Wong's Kong King International (Holdings) ranks #644 out of 2398 companies in the Hardware industry, placing it in the top 26.9%.
Is Wong's Kong King International (Holdings)'s Beneish M-Score too high?
Wong's Kong King International (Holdings)'s current Beneish M-Score is -2.77. Based on the distribution chart, Wong's Kong King International (Holdings) ranks #644 out of 2398 companies in the Hardware industry, which is above the industry midpoint. Overall, Wong's Kong King International (Holdings) has a GF Score™ of 37/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Wong's Kong King International (Holdings)'s Beneish M-Score compare to APH and GLW?
According to the Hardware industry distribution chart, Wong's Kong King International (Holdings) ranks #644 out of 2398 companies for Beneish M-Score. This puts Wong's Kong King International (Holdings) in the upper 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 Wong's Kong King International (Holdings) and its competitors. Wong's Kong King International (Holdings)'s current Beneish M-Score is -2.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Wong's Kong King International (Holdings) stock overvalued right now?
Based on GuruFocus' analysis, Wong's Kong King International (Holdings) (HKSE:00532) is currently considered Modestly Undervalued. The stock's GF Value™ is HK$0.42, compared to a current price of HK$0.31 — trading 26.2% below its estimated fair value. The current Beneish M-Score is -2.77. Wong's Kong King International (Holdings)'s overall GF Score™ is 37/100 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 Wong's Kong King International (Holdings) (HKSE:00532), the current Beneish M-Score is -2.77 as of Aug. 09, 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 Wong's Kong King International (Holdings) (HKSE:00532) Overvalued in 2026?

Based on GuruFocus' analysis, Wong's Kong King International (Holdings) stock appears to be undervalued. The current stock price of HK$0.31 is trading 26.2% below its estimated GF Value™ of HK$0.42. GuruFocus considers Wong's Kong King International (Holdings) to be Modestly Undervalued.

Key valuation signals for HKSE:00532:

  • Beneish M-Score: -2.77
  • GF Value™: HK$0.42 vs. price of HK$0.31 (26.2% below fair value)
  • GF Score™: 37/100 with 2 warning signs

No single metric tells the full story. See the HKSE:00532 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Wong's Kong King International (Holdings) Business Description

Address No. 8 Lam Chak Street, 17th Floor, Harbourside HQ, Kowloon Bay, Hong Kong, HKG
Wong's Kong King International (Holdings) Ltd is an investment holding company. Through its subsidiaries, it operates in the following segments: Trading and Distribution, OEM Manufacturing, and Others. Maximum revenue is generated from the Trading and Distribution segment, which is engaged in trading and distribution of chemicals, materials, and equipment used in the manufacturing of printed circuit boards and electronic products. The OEM Manufacturing segment is involved in the manufacturing of electrical and electronic products. Geographically, the Group generates maximum revenue from Hong Kong, the Chinese Mainland and Taiwan, followed by Europe, North America, and Other regions.
37GF Score

Get the complete analysis for HKSE:00532

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

HK$0.31
Price
HK$0.42
GF Value