Grand Ming Group Holdings (HKSE:01271) Beneish M-Score: -2.34 (As of Jun. 30, 2026)

What is Grand Ming Group Holdings Beneish M-Score?

Grand Ming Group Holdings HKSE:01271 53 Beneish M-Score is -2.34 as of Jun. 30, 2026. GuruFocus rates HKSE:01271 with a GF Score™ of 53/100 and a GF Value™ of HK$1.49 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 1,700 Construction companies, Grand Ming Group Holdings ranks worse than 60.82% 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 -2.34 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:01271' s Beneish M-Score Range Over the Past 10 Years
Min: -2.89 Med: -1.98 Max: 1.24
Current: -2.34

During the past 13 years, the highest Beneish M-Score of Grand Ming Group Holdings was 1.24. The lowest was -2.89. And the median was -1.98.

Grand Ming Group Holdings Beneish M-Score Related Terms

Grand Ming Group Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Grand Ming 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.

Grand Ming Group Holdings Beneish M-Score Chart

Grand Ming Group Holdings Annual Data

Trend

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Beneish M-Score

Get a 7-Day Free Trial

-2.63

-1.34

1.24

-2.39

-2.34

Grand Ming Group Holdings Semi-Annual Data
	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24	Sep24	Mar25	Sep25
Beneish M-Score	Get a 7-Day Free Trial															0.00	-2.39	0.00	-2.34	0.00

HKSE:01271 vs PWR, FIX, EME: Beneish M-Score Comparison

For the Engineering & Construction subindustry, Grand Ming 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.

Grand Ming Group Holdings Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, Grand Ming Group Holdings's Beneish M-Score distribution charts can be found below:

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

Save Embed

53GF Score

Grand Ming Group Holdings Ltd HKSE:01271

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

View Full Analysis

Grand Ming 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 Grand Ming Group Holdings for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.4257

0.528 * 1.0897

0.404 * 1.1209

0.892 * 2.1509

0.115 * 0.9483

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.3135

4.679 * -0.082828

0.327 * 1.0204

-2.34

This Year (Mar25) TTM:

Last Year (Mar24) TTM:

Total Receivables was HK$57.7 Mil.
Revenue was HK$1,145.8 Mil.
Gross Profit was HK$332.7 Mil.
Total Current Assets was HK$1,758.8 Mil.
Total Assets was HK$9,096.3 Mil.
Property, Plant and Equipment(Net PPE) was HK$749.9 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$21.3 Mil.
Selling, General, & Admin. Expense(SGA) was HK$347.6 Mil.
Total Current Liabilities was HK$5,529.8 Mil.
Long-Term Debt & Capital Lease Obligation was HK$744.4 Mil.
Net Income was HK$-292.1 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$461.4 Mil.

Total Receivables was HK$63.0 Mil.
Revenue was HK$532.7 Mil.
Gross Profit was HK$168.6 Mil.
Total Current Assets was HK$2,505.7 Mil.
Total Assets was HK$9,386.2 Mil.
Property, Plant and Equipment(Net PPE) was HK$816.3 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$21.9 Mil.
Selling, General, & Admin. Expense(SGA) was HK$123.1 Mil.
Total Current Liabilities was HK$2,123.9 Mil.
Long-Term Debt & Capital Lease Obligation was HK$4,220.7 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)
	=	(57.684 / 1145.755)	/	(62.998 / 532.691)
	=	0.050346	/	0.118264
	=	0.4257

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)
	=	(168.565 / 532.691)	/	(332.718 / 1145.755)
	=	0.31644	/	0.290392
	=	1.0897

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 - (1758.778 + 749.884) / 9096.335)	/	(1 - (2505.742 + 816.284) / 9386.245)
	=	0.724212	/	0.646075
	=	1.1209

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
	=	1145.755	/	532.691
	=	2.1509

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))
	=	(21.913 / (21.913 + 816.284))	/	(21.258 / (21.258 + 749.884))
	=	0.026143	/	0.027567
	=	0.9483

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)
	=	(347.64 / 1145.755)	/	(123.053 / 532.691)
	=	0.303416	/	0.231003
	=	1.3135

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)
	=	((744.434 + 5529.849) / 9096.335)	/	((4220.666 + 2123.872) / 9386.245)
	=	0.689759	/	0.67594
	=	1.0204

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
	=	(-292.055 - 0	-	461.376)	/	9096.335
	=	-0.082828

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.

Grand Ming Group Holdings has a M-score of -2.34 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 -2.34 mean?

Grand Ming Group Holdings (HKSE:01271) has a Beneish M-Score of -2.34 as of Jun. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Grand Ming Group Holdings and its competitors. According to the industry distribution chart, Grand Ming Group Holdings ranks #1034 out of 1700 companies in the Construction industry, placing it in the top 60.8%.

Is Grand Ming Group Holdings' Beneish M-Score too high?

Grand Ming Group Holdings' current Beneish M-Score is -2.34. Based on the distribution chart, Grand Ming Group Holdings ranks #1034 out of 1700 companies in the Construction industry, which is below the industry midpoint. Overall, Grand Ming Group Holdings has a GF Score™ of 53/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.

How does Grand Ming Group Holdings' Beneish M-Score compare to PWR and FIX?

According to the Construction industry distribution chart, Grand Ming Group Holdings ranks #1034 out of 1700 companies for Beneish M-Score. This places Grand Ming 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 Construction company?

A good Beneish M-Score depends on the Construction 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 Grand Ming Group Holdings and its competitors. Grand Ming Group Holdings's current Beneish M-Score is -2.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Grand Ming Group Holdings stock overvalued right now?

Based on GuruFocus' analysis, Grand Ming Group Holdings (HKSE:01271) is currently considered Possible Value Trap. The stock's GF Value™ is HK$1.49, compared to a current price of HK$0.41 — trading 72.8% below its estimated fair value. The current Beneish M-Score is -2.34. Grand Ming Group Holdings' overall GF Score™ is 53/100 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 Grand Ming Group Holdings (HKSE:01271), the current Beneish M-Score is -2.34 as of Jun. 30, 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 Grand Ming Group Holdings (HKSE:01271) Overvalued in 2026?

Based on GuruFocus' analysis, Grand Ming Group Holdings stock appears to be undervalued. The current stock price of HK$0.41 is trading 72.8% below its estimated GF Value™ of HK$1.49. GuruFocus considers Grand Ming Group Holdings to be Possible Value Trap.

Key valuation signals for HKSE:01271:

Beneish M-Score: -2.34
GF Value™: HK$1.49 vs. price of HK$0.41 (72.8% below fair value)
GF Score™: 53/100 with 5 warning signs

No single metric tells the full story. See the HKSE:01271 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Grand Ming Group Holdings Business Description

Industry Industrials Construction

Comparable Companies HKSE:01499 HKSE:02262 HKSE:08188 HKSE:06829 HKSE:01693 HKSE:01489 HKSE:00610 HKSE:01865 HKSE:06182 HKSE:08431 PWR XPAR:DG FIX NSE:LT XKRX:028260 XAMS:FER XTER:HOT XMAD:ACS EME MTZ

Address No. 39 Chatham Road South, 22nd Floor, Railway Plaza, Tsim Sha Tsui, Kowloon, Hong Kong, HKG

Website https://www.grandming.com.hk

Grand Ming Group Holdings Ltd is an investment holding company. Through its subsidiaries, the company is principally engaged in building construction, property leasing, and property development. Its reportable segments are; Construction, which involves constructing residential buildings, commercial buildings, and data centres; Property leasing which engages in the leasing of data centres and commercial shops; and the Property development segment which is involved in the development and sale of properties. Maximum revenue is generated from the Construction segment. Geographically, all of the company's revenue is generated from its customers in Hong Kong.

53GF Score

Get the complete analysis for HKSE:01271

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

HK$0.41

Price

HK$1.49

GF Value

View HKSE:01271 Analysis

See Beneish M-Score data for all stocks →