Wai Chun Group Holdings (HKSE:01013) Beneish M-Score: 0.00 (As of Aug. 12, 2026)

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HKSE:01013 Wai Chun Group Holdings Ltd HKSE:01013
20 GF Score
Price HK$0.31
GF Value HK$0.23
Valuation Significantly Overvalued
! 6 Warning Signs
View Full Analysis

What is Wai Chun Group Holdings Beneish M-Score?

Wai Chun Group Holdings HKSE:01013 -1.59% 20 Beneish M-Score is 0.00 as of Aug. 12, 2026. GuruFocus rates HKSE:01013 with a GF Score™ of 20/100 and a GF Value™ of HK$0.23 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 2,401 Hardware companies, Wai Chun Group Holdings ranks worse than 41649.27% 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.

The historical rank and industry rank for Wai Chun Group Holdings's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Wai Chun Group Holdings was -2.39. The lowest was -2.39. And the median was -2.39.

Wai Chun Group Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Wai Chun Group 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.

Wai Chun Group Holdings Beneish M-Score Chart

Wai Chun Group Holdings Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 -2.39 0.00

Wai Chun Group Holdings Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
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 0.00 0.00 -2.39 0.00 0.00

HKSE:01013 vs SNX, ARW, AVT: Beneish M-Score Comparison

For the Electronics & Computer Distribution subindustry, Wai Chun Group 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.

Wai Chun Group Holdings Beneish M-Score vs Hardware Industry

For the Hardware industry and Technology sector, Wai Chun Group Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Wai Chun Group Holdings's Beneish M-Score falls into.


HKSE:01013
20GF Score
Wai Chun Group Holdings Ltd HKSE:01013
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Wai Chun Group 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 Wai Chun Group 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was HK$79.8 Mil.
Revenue was HK$264.2 Mil.
Gross Profit was HK$1.1 Mil.
Total Current Assets was HK$83.0 Mil.
Total Assets was HK$83.0 Mil.
Property, Plant and Equipment(Net PPE) was HK$0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$0.3 Mil.
Selling, General, & Admin. Expense(SGA) was HK$10.6 Mil.
Total Current Liabilities was HK$117.1 Mil.
Long-Term Debt & Capital Lease Obligation was HK$197.1 Mil.
Net Income was HK$-42.5 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$-8.7 Mil.
 Total Receivables was HK$41.9 Mil.
Revenue was HK$266.3 Mil.
Gross Profit was HK$2.2 Mil.
Total Current Assets was HK$54.9 Mil.
Total Assets was HK$54.9 Mil.
Property, Plant and Equipment(Net PPE) was HK$0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$0.2 Mil.
Selling, General, & Admin. Expense(SGA) was HK$9.1 Mil.
Total Current Liabilities was HK$113.9 Mil.
Long-Term Debt & Capital Lease Obligation was HK$140.4 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)
=(79.759 / 264.153) / (41.947 / 266.338)
=0.301942 / 0.157495
=

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)
=(2.153 / 266.338) / (1.078 / 264.153)
=0.008084 / 0.004081
=

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 - (82.971 + 0.004) / 83.049) / (1 - (54.856 + 0.004) / 54.86)
=0.000891 / 0
=

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
=264.153 / 266.338
=

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))
=(0.187 / (0.187 + 0.004)) / (0.288 / (0.288 + 0.004))
=0.979058 / 0.986301
=

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)
=(10.603 / 264.153) / (9.111 / 266.338)
=0.04014 / 0.034208
=

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)
=((197.073 + 117.141) / 83.049) / ((140.444 + 113.904) / 54.86)
=3.783477 / 4.636311
=

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
=(-42.516 - 0 - -8.724) / 83.049
=-0.406892

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Wai Chun Group Holdings (HKSE:01013) has a Beneish M-Score of 0.00 as of Aug. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Wai Chun Group Holdings and its competitors. According to the industry distribution chart, Wai Chun Group Holdings ranks #999999 out of 2401 companies in the Hardware industry.
Is Wai Chun Group Holdings' Beneish M-Score too high?
Wai Chun Group Holdings' current Beneish M-Score is 0.00. Based on the distribution chart, Wai Chun Group Holdings ranks #999999 out of 2401 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Wai Chun Group Holdings has a GF Score™ of 20/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Wai Chun Group Holdings' Beneish M-Score compare to SNX and ARW?
According to the Hardware industry distribution chart, Wai Chun Group Holdings ranks #999999 out of 2401 companies for Beneish M-Score. This places Wai Chun Group Holdings 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 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 Wai Chun Group Holdings and its competitors. Wai Chun Group Holdings's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Wai Chun Group Holdings stock overvalued right now?
Based on GuruFocus' analysis, Wai Chun Group Holdings (HKSE:01013) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.23, compared to a current price of HK$0.31 — trading 34.8% above its estimated fair value. The current Beneish M-Score is 0.00. Wai Chun Group Holdings' overall GF Score™ is 20/100 with 6 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 Wai Chun Group Holdings (HKSE:01013), the current Beneish M-Score is 0.00 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 Wai Chun Group Holdings (HKSE:01013) Overvalued in 2026?

Based on GuruFocus' analysis, Wai Chun Group Holdings stock appears to be overvalued. The current stock price of HK$0.31 is trading 34.8% above its estimated GF Value™ of HK$0.23. GuruFocus considers Wai Chun Group Holdings to be Significantly Overvalued.

Key valuation signals for HKSE:01013:

  • Beneish M-Score: 0.00
  • GF Value™: HK$0.23 vs. price of HK$0.31 (34.8% above fair value)
  • GF Score™: 20/100 with 6 warning signs

No single metric tells the full story. See the HKSE:01013 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Wai Chun Group Holdings Business Description

Address 26 Harbour Road, 40th Floor, Rooms 4001-02, China Resources Building, Wanchai, Hong Kong, HKG
Wai Chun Group Holdings Ltd acts as an investment holding company. It is engaged in general trading; network and system integration by the production of software and provision of solutions and related services; and investment holdings. The group's operating segments include Sales and integration services and General trading. The sales and integration services include sales and services provision of integration services of computer and communication systems, and design, consultation, and production of information system software. The General trading segment, which is the key revenue-generating segment, includes trading of mobiles, electronic components, plastic resins, and chemicals. Geographically, it derives a majority of its revenue from the PRC and also has a presence in Hong Kong.
20GF Score

Get the complete analysis for HKSE:01013

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

HK$0.31
Price
HK$0.23
GF Value