Tong Tong AI Social Group (HKSE:00628) Beneish M-Score: -2.13 (As of Aug. 12, 2026)

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HKSE:00628 Tong Tong AI Social Group Ltd HKSE:00628
44 GF Score
Price HK$0.30
GF Value HK$0.55
Valuation Possible Value Trap
! 1 Warning Sign
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What is Tong Tong AI Social Group Beneish M-Score?

Tong Tong AI Social Group HKSE:00628 -1.67% 44 Beneish M-Score is -2.13 as of Aug. 12, 2026. GuruFocus rates HKSE:00628 with a GF Score™ of 44/100 and a GF Value™ of HK$0.55 (Possible Value Trap). The stock has 1 warning sign investors should review. Among 486 Credit Services companies, Tong Tong AI Social Group ranks worse than 51.44% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 -2.13 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Tong Tong AI Social Group's Beneish M-Score or its related term are showing as below:

HKSE:00628' s Beneish M-Score Range Over the Past 10 Years
Min: -22.93   Med: -2.12   Max: -0.39
Current: -2.13

During the past 13 years, the highest Beneish M-Score of Tong Tong AI Social Group was -0.39. The lowest was -22.93. And the median was -2.12.

HKSE:00628
44GF Score
Tong Tong AI Social Group Ltd HKSE:00628
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Tong Tong AI Social 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 Tong Tong AI Social 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 * 1+0.528 * 1+0.404 * 0.9984+0.892 * 1.8238+0.115 * 0.9577
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.3474+4.679 * 0.029469-0.327 * 2.4069
=-2.13

* 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$0.0 Mil.
Revenue was HK$481.8 Mil.
Gross Profit was HK$481.8 Mil.
Total Current Assets was HK$0.0 Mil.
Total Assets was HK$3,024.0 Mil.
Property, Plant and Equipment(Net PPE) was HK$8.8 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$46.3 Mil.
Selling, General, & Admin. Expense(SGA) was HK$462.3 Mil.
Total Current Liabilities was HK$0.0 Mil.
Long-Term Debt & Capital Lease Obligation was HK$169.7 Mil.
Net Income was HK$68.2 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$-20.9 Mil.
 Total Receivables was HK$0.0 Mil.
Revenue was HK$264.2 Mil.
Gross Profit was HK$264.2 Mil.
Total Current Assets was HK$0.0 Mil.
Total Assets was HK$2,783.9 Mil.
Property, Plant and Equipment(Net PPE) was HK$3.6 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$14.8 Mil.
Selling, General, & Admin. Expense(SGA) was HK$188.1 Mil.
Total Current Liabilities was HK$0.0 Mil.
Long-Term Debt & Capital Lease Obligation was HK$64.9 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 / 481.797) / (0 / 264.167)
=0 / 0
=1

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)
=(264.167 / 264.167) / (481.797 / 481.797)
=1 / 1
=1

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 + 8.787) / 3023.991) / (1 - (0 + 3.586) / 2783.945)
=0.997094 / 0.998712
=0.9984

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
=481.797 / 264.167
=1.8238

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))
=(14.79 / (14.79 + 3.586)) / (46.269 / (46.269 + 8.787))
=0.804854 / 0.840399
=0.9577

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)
=(462.263 / 481.797) / (188.11 / 264.167)
=0.959456 / 0.712087
=1.3474

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)
=((169.729 + 0) / 3023.991) / ((64.919 + 0) / 2783.945)
=0.056127 / 0.023319
=2.4069

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
=(68.184 - 0 - -20.93) / 3023.991
=0.029469

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.

Tong Tong AI Social Group has a M-score of -2.13 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 -2.13 mean?
Tong Tong AI Social Group (HKSE:00628) has a Beneish M-Score of -2.13 as of Aug. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Tong Tong AI Social Group and its competitors. According to the industry distribution chart, Tong Tong AI Social Group ranks #250 out of 486 companies in the Credit Services industry, placing it in the top 51.4%.
Is Tong Tong AI Social Group's Beneish M-Score too high?
Tong Tong AI Social Group's current Beneish M-Score is -2.13. Based on the distribution chart, Tong Tong AI Social Group ranks #250 out of 486 companies in the Credit Services industry, which is below the industry midpoint. Overall, Tong Tong AI Social Group has a GF Score™ of 44/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Tong Tong AI Social Group's Beneish M-Score compare to V and MA?
According to the Credit Services industry distribution chart, Tong Tong AI Social Group ranks #250 out of 486 companies for Beneish M-Score. This places Tong Tong AI Social Group 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 Credit Services company?
A good Beneish M-Score depends on the Credit Services 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 Tong Tong AI Social Group and its competitors. Tong Tong AI Social Group's current Beneish M-Score is -2.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tong Tong AI Social Group stock overvalued right now?
Based on GuruFocus' analysis, Tong Tong AI Social Group (HKSE:00628) is currently considered Possible Value Trap. The stock's GF Value™ is HK$0.55, compared to a current price of HK$0.30 — trading 46.4% below its estimated fair value. The current Beneish M-Score is -2.13. Tong Tong AI Social Group's overall GF Score™ is 44/100 with 1 warning sign 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 Tong Tong AI Social Group (HKSE:00628), the current Beneish M-Score is -2.13 as of Aug. 12, 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 Tong Tong AI Social Group (HKSE:00628) Overvalued in 2026?

Based on GuruFocus' analysis, Tong Tong AI Social Group stock appears to be undervalued. The current stock price of HK$0.30 is trading 46.4% below its estimated GF Value™ of HK$0.55. GuruFocus considers Tong Tong AI Social Group to be Possible Value Trap.

Key valuation signals for HKSE:00628:

  • Beneish M-Score: -2.13
  • GF Value™: HK$0.55 vs. price of HK$0.30 (46.4% below fair value)
  • GF Score™: 44/100 with 1 warning sign

No single metric tells the full story. See the HKSE:00628 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Tong Tong AI Social Group Business Description

Address 8 Finance Street, Suite 2912, 29th Floor, Two International Finance Centre, Central, Hong Kong, HKG
Tong Tong AI Social Group Ltd is an investment holding company. Along with its subsidiaries, it operates in the following reportable segments: Commercial factoring business, Other financing services, Game development and publishing business, and Social networking business. Maximum revenue is generated from its Game development and publishing business, which provides online advertising services and top-up services. The Commercial factoring business provides factoring services. The Other financing services segment includes finance lease business, financial information service, and consultation service, and the Social networking business provides online data processing, transaction processing, and value-added telecommunications services. Geographically, it derives revenue from China (PRC).
44GF Score

Get the complete analysis for HKSE:00628

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

HK$0.30
Price
HK$0.55
GF Value