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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.
Good Sign:
Beneish M-Score -4.31 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for South China Financial Holdings's Beneish M-Score or its related term are showing as below:
HKSE:00619'
s Beneish M-Score Range Over the Past 10 Years
Min: -6.56 Med: -3.1 Max: -1.39
Current: -4.31
During the past 13 years, the highest Beneish M-Score of South China Financial Holdings was -1.39. The lowest was -6.56. And the median was -3.10.
* 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.
South China Financial Holdings Beneish M-Score Chart
HKSE:00619 vs MS, GS, SCHW: Beneish M-Score Comparison
For the Capital Markets subindustry, South China Financial 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.
South China Financial Holdings Beneish M-Score vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, South China Financial Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where South China Financial Holdings's Beneish M-Score falls into.
South China Financial 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 South China Financial 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 * 0.7426
+
0.528 * -2.3596
+
0.404 * 0.812
+
0.892 * 1.3684
+
0.115 * 1.1471
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.6848
+
4.679 * -0.027018
-
0.327 * 1.0363
=
-4.31
* 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.
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.
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))
=
(3.19 / (3.19 + 86.062))
/
(2.726 / (2.726 + 84.766))
=
0.035741
/
0.031157
=
1.1471
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
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
=
(-22.839 - 0
-
1.561)
/
903.109
=
-0.027018
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.
South China Financial Holdings has a M-score of -4.31 suggests that the company is unlikely to be a manipulator.
South China Financial Holdings (HKSE:00619) has a Beneish M-Score of -4.31 as of Aug. 19, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on South China Financial Holdings and its competitors. According to the industry distribution chart, South China Financial Holdings ranks #40 out of 706 companies in the Capital Markets industry, placing it in the top 5.7%.
Is South China Financial Holdings' Beneish M-Score too high?
South China Financial Holdings' current Beneish M-Score is -4.31. Based on the distribution chart, South China Financial Holdings ranks #40 out of 706 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, South China Financial Holdings has a GF Score™ of 34/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does South China Financial Holdings' Beneish M-Score compare to MS and GS?
According to the Capital Markets industry distribution chart, South China Financial Holdings ranks #40 out of 706 companies for Beneish M-Score. This places South China Financial Holdings in the top 6% of its industry — outperforming the majority of peers. 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 Capital Markets company?
A good Beneish M-Score depends on the Capital Markets 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 South China Financial Holdings and its competitors. South China Financial Holdings's current Beneish M-Score is -4.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is South China Financial Holdings stock overvalued right now?
Based on GuruFocus' analysis, South China Financial Holdings (HKSE:00619) is currently considered Modestly Overvalued. The stock's GF Value™ is HK$0.26, compared to a current price of HK$0.29 — trading 11.5% above its estimated fair value. The current Beneish M-Score is -4.31. South China Financial Holdings' overall GF Score™ is 34/100 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 South China Financial Holdings (HKSE:00619), the current Beneish M-Score is -4.31 as of Aug. 19, 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 South China Financial Holdings (HKSE:00619) Overvalued in 2026?
Based on GuruFocus' analysis, South China Financial Holdings stock appears to be overvalued.
The current stock price of HK$0.29 is trading 11.5% above its estimated GF Value™ of HK$0.26.
GuruFocus considers South China Financial Holdings to be Modestly Overvalued.
Key valuation signals for HKSE:00619:
Beneish M-Score: -4.31
GF Value™: HK$0.26 vs. price of HK$0.29 (11.5% above fair value)
No single metric tells the full story. See the HKSE:00619 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
South China Financial Holdings Ltd, along with its subsidiaries, provides a comprehensive range of financial services through both traditional and online trading platforms. The Group's offerings include brokerage and trading services across multiple asset classes such as equities, foreign exchange, commodities, financial futures, etc. In addition, it is engaged in corporate finance activities, asset management, corporate financial advisory, and securities underwriting. The Group's reportable operating segments are: Broking, which generates maximum revenue, Trading and investment, Margin financing and money lending, Asset and wealth management, Corporate advisory and underwriting, Property investment, and Others. Geographically, it generates maximum revenue from Hong Kong.
34GF Score
Get the complete analysis for HKSE:00619
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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