Hangzhou Tongshifu Cultural and Creative Group Co (HKSE:00664) Beneish M-Score: -0.88 (As of Jul. 14, 2026)

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HKSE:00664 Hangzhou Tongshifu Cultural and Creative Group Co Ltd HKSE:00664
21 GF Score
Price HK$14.08
! 5 Warning Signs
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What is Hangzhou Tongshifu Cultural and Creative Group Co Beneish M-Score?

Hangzhou Tongshifu Cultural and Creative Group Co HKSE:00664 -3.23% 21 Beneish M-Score is -0.88 as of Jul. 14, 2026. GuruFocus rates HKSE:00664 with a GF Score™ of 21/100. The stock has 5 warning signs investors should review. Among 822 Travel & Leisure companies, Hangzhou Tongshifu Cultural and Creative Group Co ranks worse than 92.46% 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 -0.88 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Hangzhou Tongshifu Cultural and Creative Group Co's Beneish M-Score or its related term are showing as below:

HKSE:00664' s Beneish M-Score Range Over the Past 10 Years
Min: -0.88   Med: -0.45   Max: -0.01
Current: -0.88

During the past 4 years, the highest Beneish M-Score of Hangzhou Tongshifu Cultural and Creative Group Co was -0.01. The lowest was -0.88. And the median was -0.45.

Hangzhou Tongshifu Cultural and Creative Group Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Hangzhou Tongshifu Cultural and Creative Group Co'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.

Hangzhou Tongshifu Cultural and Creative Group Co Beneish M-Score Chart

Hangzhou Tongshifu Cultural and Creative Group Co Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -0.01 -0.88

Hangzhou Tongshifu Cultural and Creative Group Co Quarterly Data
Dec22 Dec23 Sep24 Dec24 Jun25 Sep25 Dec25
Beneish M-Score Get a 7-Day Free Trial 0.00 -0.01 0.00 0.00 -0.88

HKSE:00664 vs AS, HAS, LTH: Beneish M-Score Comparison

For the Leisure subindustry, Hangzhou Tongshifu Cultural and Creative Group Co'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.

Hangzhou Tongshifu Cultural and Creative Group Co Beneish M-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Hangzhou Tongshifu Cultural and Creative Group Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Hangzhou Tongshifu Cultural and Creative Group Co's Beneish M-Score falls into.


HKSE:00664
21GF Score
Hangzhou Tongshifu Cultural and Creative Group Co Ltd HKSE:00664
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Hangzhou Tongshifu Cultural and Creative Group Co 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 Hangzhou Tongshifu Cultural and Creative Group Co 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 * 2.452+0.528 * 1.0509+0.404 * 0.6959+0.892 * 1.1183+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.6501+4.679 * 0.085713-0.327 * 1.1129
=-0.88

* 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$33.5 Mil.
Revenue was HK$682.0 Mil.
Gross Profit was HK$229.6 Mil.
Total Current Assets was HK$354.9 Mil.
Total Assets was HK$616.6 Mil.
Property, Plant and Equipment(Net PPE) was HK$236.7 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$0.0 Mil.
Selling, General, & Admin. Expense(SGA) was HK$125.9 Mil.
Total Current Liabilities was HK$105.6 Mil.
Long-Term Debt & Capital Lease Obligation was HK$5.6 Mil.
Net Income was HK$52.8 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$0.0 Mil.
 Total Receivables was HK$12.2 Mil.
Revenue was HK$609.8 Mil.
Gross Profit was HK$215.8 Mil.
Total Current Assets was HK$306.1 Mil.
Total Assets was HK$522.1 Mil.
Property, Plant and Equipment(Net PPE) was HK$185.6 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$21.5 Mil.
Selling, General, & Admin. Expense(SGA) was HK$68.2 Mil.
Total Current Liabilities was HK$84.2 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.4 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)
=(33.457 / 681.988) / (12.201 / 609.841)
=0.049058 / 0.020007
=2.452

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)
=(215.761 / 609.841) / (229.603 / 681.988)
=0.353799 / 0.336667
=1.0509

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 - (354.861 + 236.676) / 616.566) / (1 - (306.062 + 185.596) / 522.117)
=0.040594 / 0.058337
=0.6959

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
=681.988 / 609.841
=1.1183

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))
=(21.476 / (21.476 + 185.596)) / (0 / (0 + 236.676))
=0.103713 / 0
=1

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)
=(125.917 / 681.988) / (68.236 / 609.841)
=0.184632 / 0.111891
=1.6501

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)
=((5.61 + 105.555) / 616.566) / ((0.362 + 84.225) / 522.117)
=0.180297 / 0.162008
=1.1129

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
=(52.848 - 0 - 0) / 616.566
=0.085713

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.

Hangzhou Tongshifu Cultural and Creative Group Co has a M-score of -0.88 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 -0.88 mean?
Hangzhou Tongshifu Cultural and Creative Group Co (HKSE:00664) has a Beneish M-Score of -0.88 as of Jul. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Hangzhou Tongshifu Cultural and Creative Group Co and its competitors. According to the industry distribution chart, Hangzhou Tongshifu Cultural and Creative Group Co ranks #760 out of 822 companies in the Travel & Leisure industry, placing it in the top 92.5%.
Is Hangzhou Tongshifu Cultural and Creative Group Co's Beneish M-Score too high?
Hangzhou Tongshifu Cultural and Creative Group Co's current Beneish M-Score is -0.88. Based on the distribution chart, Hangzhou Tongshifu Cultural and Creative Group Co ranks #760 out of 822 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, Hangzhou Tongshifu Cultural and Creative Group Co has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does Hangzhou Tongshifu Cultural and Creative Group Co's Beneish M-Score compare to AS and HAS?
According to the Travel & Leisure industry distribution chart, Hangzhou Tongshifu Cultural and Creative Group Co ranks #760 out of 822 companies for Beneish M-Score. This places Hangzhou Tongshifu Cultural and Creative Group Co 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 Travel & Leisure company?
A good Beneish M-Score depends on the Travel & Leisure 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 Hangzhou Tongshifu Cultural and Creative Group Co and its competitors. Hangzhou Tongshifu Cultural and Creative Group Co's current Beneish M-Score is -0.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hangzhou Tongshifu Cultural and Creative Group Co stock overvalued right now?
Hangzhou Tongshifu Cultural and Creative Group Co (HKSE:00664) has a current Beneish M-Score of -0.88. The current Beneish M-Score is -0.88. Hangzhou Tongshifu Cultural and Creative Group Co's overall GF Score™ is 21/100 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 Hangzhou Tongshifu Cultural and Creative Group Co (HKSE:00664), the current Beneish M-Score is -0.88 as of Jul. 14, 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.

Hangzhou Tongshifu Cultural and Creative Group Co Business Description

Address No. 777 Yading Road, Yangxi Subdistrict, Zhejiang Province, Jiande, CHN
Hangzhou Tongshifu Cultural and Creative Group Co Ltd is principally engaged in the design, development, and sale of copper-based cultural and creative products that integrate traditional craftsmanship with modern design and usage scenarios. It has also expanded its product offerings into other material categories, including gold, silver, and plastic, as complements to its core copper-based portfolio. The Group mainly designs, develops, produces, and manufactures various copper handicrafts under the brands TONGSHIFU, TAITONG, and HAPPY GENERAL. Its product categories include Batman, Transformers, Ne Zha 2, and many more. Its main market is the Chinese Mainland, where it mainly serves retail consumers, with copper-based cultural and creative products remaining its main revenue contributor.
21GF Score

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

HK$14.08
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