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Guodian Technology & Environment Group (HKSE:01296) Beneish M-Score : 0.00 (As of May. 27, 2024)


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What is Guodian Technology & Environment Group Beneish M-Score?

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 Guodian Technology & Environment Group's Beneish M-Score or its related term are showing as below:

During the past 12 years, the highest Beneish M-Score of Guodian Technology & Environment Group was 0.00. The lowest was 0.00. And the median was 0.00.


Guodian Technology & Environment Group Beneish M-Score Historical Data

The historical data trend for Guodian Technology & Environment 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.

* Premium members only.

Guodian Technology & Environment Group Beneish M-Score Chart

Guodian Technology & Environment Group Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.61 -2.49 -3.02 -2.48 -1.80

Guodian Technology & Environment Group Semi-Annual Data
Jun12 Dec12 Jun13 Dec13 Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21
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 -3.02 - -2.48 - -1.80

Competitive Comparison of Guodian Technology & Environment Group's Beneish M-Score

For the Pollution & Treatment Controls subindustry, Guodian Technology & Environment 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.


Guodian Technology & Environment Group's Beneish M-Score Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Guodian Technology & Environment Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Guodian Technology & Environment Group's Beneish M-Score falls into.



Guodian Technology & Environment 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 Guodian Technology & Environment 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 * 0.8265+0.528 * 3.1689+0.404 * 0.9785+0.892 * 0.7982+0.115 * 0.8379
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.387+4.679 * -0.017596-0.327 * 0.8409
=-1.80

* 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 (Dec21) TTM:Last Year (Dec20) TTM:
Total Receivables was HK$5,258 Mil.
Revenue was HK$14,783 Mil.
Gross Profit was HK$882 Mil.
Total Current Assets was HK$18,582 Mil.
Total Assets was HK$29,964 Mil.
Property, Plant and Equipment(Net PPE) was HK$4,526 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$586 Mil.
Selling, General, & Admin. Expense(SGA) was HK$3,248 Mil.
Total Current Liabilities was HK$15,951 Mil.
Long-Term Debt & Capital Lease Obligation was HK$2,529 Mil.
Net Income was HK$-1,028 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$-501 Mil.
Total Receivables was HK$7,970 Mil.
Revenue was HK$18,522 Mil.
Gross Profit was HK$3,503 Mil.
Total Current Assets was HK$27,916 Mil.
Total Assets was HK$43,603 Mil.
Property, Plant and Equipment(Net PPE) was HK$5,491 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$584 Mil.
Selling, General, & Admin. Expense(SGA) was HK$2,934 Mil.
Total Current Liabilities was HK$26,639 Mil.
Long-Term Debt & Capital Lease Obligation was HK$5,342 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)
=(5257.699 / 14783.309) / (7970.077 / 18521.767)
=0.355651 / 0.430309
=0.8265

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)
=(3502.796 / 18521.767) / (882.265 / 14783.309)
=0.189118 / 0.05968
=3.1689

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 - (18581.508 + 4525.837) / 29963.929) / (1 - (27916.08 + 5490.592) / 43603.451)
=0.228828 / 0.233853
=0.9785

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
=14783.309 / 18521.767
=0.7982

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))
=(583.623 / (583.623 + 5490.592)) / (586.225 / (586.225 + 4525.837))
=0.096082 / 0.114675
=0.8379

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)
=(3248.307 / 14783.309) / (2934.203 / 18521.767)
=0.219728 / 0.158419
=1.387

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)
=((2529.432 + 15950.631) / 29963.929) / ((5341.518 + 26639.12) / 43603.451)
=0.616744 / 0.733443
=0.8409

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
=(-1028.031 - 0 - -500.785) / 29963.929
=-0.017596

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.

Guodian Technology & Environment Group has a M-score of -1.80 suggests that the company is unlikely to be a manipulator.


Guodian Technology & Environment Group Beneish M-Score Related Terms

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Guodian Technology & Environment Group (HKSE:01296) Business Description

Traded in Other Exchanges
N/A
Address
W.4th Ring Middle Road, Suite 1101, 11th Floor, Building 1, Yard 16, Haidian District, Beijing, CHN, 100039
Guodian Technology & Environment Group Corp Ltd together with its subsidiaries offers flagship platform for environmental protection and energy conservation solutions businesses. It operates in the following segments: Environmental Protection; Energy Conservation Solutions; Wind Power Products and Services; and All Others. The Environmental Protection segment offers environmental protection products and services which mainly consist of sulphur oxide, nitrogen oxide control technologies, rental of desulphurization and denitrification facilities. Energy Conservation Solutions segment which derives the majority of revenue covers energy-saving products and services. Wind Power Products and Services segment manufactures and sells wind turbine parts and components.

Guodian Technology & Environment Group (HKSE:01296) Headlines

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