Shandong Hi Speed New Energy Group (HKSE:01250) Beneish M-Score: -2.81 (As of Aug. 27, 2026)

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HKSE:01250 Shandong Hi Speed New Energy Group Ltd HKSE:01250
66 GF Score
Price HK$1.20
GF Value HK$1.77
Valuation Possible Value Trap
! 5 Warning Signs
View Full Analysis

What is Shandong Hi Speed New Energy Group Beneish M-Score?

Shandong Hi Speed New Energy Group HKSE:01250 66 Beneish M-Score is -2.81 as of Aug. 27, 2026. GuruFocus rates HKSE:01250 with a GF Score™ of 66/100 and a GF Value™ of HK$1.77 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 398 Utilities - Independent Power Producers companies, Shandong Hi Speed New Energy Group ranks better than 69.6% 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 -2.81 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Shandong Hi Speed New Energy Group's Beneish M-Score or its related term are showing as below:

HKSE:01250' s Beneish M-Score Range Over the Past 10 Years
Min: -3.03   Med: -2.48   Max: 4.95
Current: -2.81

During the past 13 years, the highest Beneish M-Score of Shandong Hi Speed New Energy Group was 4.95. The lowest was -3.03. And the median was -2.48.

Shandong Hi Speed New Energy Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Shandong Hi Speed New Energy Group'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.

Shandong Hi Speed New Energy Group Beneish M-Score Chart

Shandong Hi Speed New Energy Group 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 -2.74 -3.03 -2.63 -2.53 -2.81

Shandong Hi Speed New Energy Group 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 -2.63 0.00 -2.53 0.00 -2.81

Shandong Hi Speed New Energy Group Beneish M-Score Competitor Comparison

For the Utilities - Renewable subindustry, Shandong Hi Speed New Energy Group'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.

Shandong Hi Speed New Energy Group Beneish M-Score vs Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Shandong Hi Speed New Energy Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Shandong Hi Speed New Energy Group's Beneish M-Score falls into.


HKSE:01250
66GF Score
Shandong Hi Speed New Energy Group Ltd HKSE:01250
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Shandong Hi Speed New Energy 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 Shandong Hi Speed New Energy 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 * 0.9445+0.528 * 1.0073+0.404 * 1.032+0.892 * 1.0313+0.115 * 0.9977
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0028+4.679 * -0.069451-0.327 * 0.99
=-2.81

* 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$12,093 Mil.
Revenue was HK$4,870 Mil.
Gross Profit was HK$2,210 Mil.
Total Current Assets was HK$18,446 Mil.
Total Assets was HK$53,629 Mil.
Property, Plant and Equipment(Net PPE) was HK$26,092 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$2,044 Mil.
Selling, General, & Admin. Expense(SGA) was HK$391 Mil.
Total Current Liabilities was HK$11,390 Mil.
Long-Term Debt & Capital Lease Obligation was HK$19,983 Mil.
Net Income was HK$253 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$3,977 Mil.
 Total Receivables was HK$12,414 Mil.
Revenue was HK$4,722 Mil.
Gross Profit was HK$2,158 Mil.
Total Current Assets was HK$17,699 Mil.
Total Assets was HK$51,680 Mil.
Property, Plant and Equipment(Net PPE) was HK$25,492 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$1,992 Mil.
Selling, General, & Admin. Expense(SGA) was HK$378 Mil.
Total Current Liabilities was HK$9,445 Mil.
Long-Term Debt & Capital Lease Obligation was HK$21,095 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)
=(12093.14 / 4870.36) / (12414.329 / 4722.47)
=2.483007 / 2.628779
=0.9445

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)
=(2158.168 / 4722.47) / (2209.61 / 4870.36)
=0.457 / 0.453685
=1.0073

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 - (18445.798 + 26091.848) / 53628.632) / (1 - (17699.115 + 25492.25) / 51680.167)
=0.169517 / 0.164256
=1.032

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
=4870.36 / 4722.47
=1.0313

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))
=(1992.339 / (1992.339 + 25492.25)) / (2044.292 / (2044.292 + 26091.848))
=0.072489 / 0.072657
=0.9977

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)
=(390.966 / 4870.36) / (378.047 / 4722.47)
=0.080275 / 0.080053
=1.0028

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)
=((19983.21 + 11390.096) / 53628.632) / ((21095.334 + 9444.85) / 51680.167)
=0.58501 / 0.590946
=0.99

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
=(252.731 - 0 - 3977.28) / 53628.632
=-0.069451

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.

Shandong Hi Speed New Energy Group has a M-score of -2.81 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 -2.81 mean?
Shandong Hi Speed New Energy Group (HKSE:01250) has a Beneish M-Score of -2.81 as of Aug. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Shandong Hi Speed New Energy Group and its competitors. According to the industry distribution chart, Shandong Hi Speed New Energy Group ranks #121 out of 398 companies in the Utilities - Independent Power Producers industry, placing it in the top 30.4%.
Is Shandong Hi Speed New Energy Group's Beneish M-Score too high?
Shandong Hi Speed New Energy Group's current Beneish M-Score is -2.81. Based on the distribution chart, Shandong Hi Speed New Energy Group ranks #121 out of 398 companies in the Utilities - Independent Power Producers industry, which is above the industry midpoint. Overall, Shandong Hi Speed New Energy Group has a GF Score™ of 66/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Shandong Hi Speed New Energy Group's Beneish M-Score compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Shandong Hi Speed New Energy Group ranks #121 out of 398 companies for Beneish M-Score. This puts Shandong Hi Speed New Energy Group 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 an Utilities - Independent Power Producers company?
A good Beneish M-Score depends on the Utilities - Independent Power Producers 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 Shandong Hi Speed New Energy Group and its competitors. Shandong Hi Speed New Energy Group's current Beneish M-Score is -2.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shandong Hi Speed New Energy Group stock overvalued right now?
Based on GuruFocus' analysis, Shandong Hi Speed New Energy Group (HKSE:01250) is currently considered Possible Value Trap. The stock's GF Value™ is HK$1.77, compared to a current price of HK$1.20 — trading 32.2% below its estimated fair value. The current Beneish M-Score is -2.81. Shandong Hi Speed New Energy Group's overall GF Score™ is 66/100 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 Shandong Hi Speed New Energy Group (HKSE:01250), the current Beneish M-Score is -2.81 as of Aug. 27, 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 Shandong Hi Speed New Energy Group (HKSE:01250) Overvalued in 2026?

Based on GuruFocus' analysis, Shandong Hi Speed New Energy Group stock appears to be undervalued. The current stock price of HK$1.20 is trading 32.2% below its estimated GF Value™ of HK$1.77. GuruFocus considers Shandong Hi Speed New Energy Group to be Possible Value Trap.

Key valuation signals for HKSE:01250:

  • Beneish M-Score: -2.81
  • GF Value™: HK$1.77 vs. price of HK$1.20 (32.2% below fair value)
  • GF Score™: 66/100 with 5 warning signs

No single metric tells the full story. See the HKSE:01250 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Shandong Hi Speed New Energy Group Business Description

Address 99 Queen’s Road Central, 38th Floor, The Centre, Central, Hong Kong, HKG
Shandong Hi Speed New Energy Group Ltd is engaged in the investment, development, construction, operation and management of photovoltaic power businesses; wind power businesses; and clean heat supply service businesses in the People's Republic of China. Its segments include the Construction-related business segment engages in the provision of construction and related services of the clean energy business; and the Operation of Clean Energy Projects segment engages in the investment and development of the photovoltaic power business, the wind power business and provision of clean heat supply services. Majority of the revenue is derived from the Operation of Clean Energy Projects segment.
66GF Score

Get the complete analysis for HKSE:01250

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

HK$1.20
Price
HK$1.77
GF Value