Trigiant Group (HKSE:01300) Beneish M-Score: -2.77 (As of Aug. 24, 2026)

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HKSE:01300 Trigiant Group Ltd HKSE:01300
35 GF Score
Price HK$1.48
! 5 Warning Signs
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What is Trigiant Group Beneish M-Score?

Trigiant Group HKSE:01300 -8.39% 35 Beneish M-Score is -2.77 as of Aug. 24, 2026. GuruFocus rates HKSE:01300 with a GF Score™ of 35/100. The stock has 5 warning signs investors should review. Among 2,405 Hardware companies, Trigiant Group ranks better than 74.97% 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 -2.77 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:01300' s Beneish M-Score Range Over the Past 10 Years
Min: -3.29   Med: -2.64   Max: -1.93
Current: -2.77

During the past 13 years, the highest Beneish M-Score of Trigiant Group was -1.93. The lowest was -3.29. And the median was -2.64.

Trigiant Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Trigiant 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.

Trigiant Group Beneish M-Score Chart

Trigiant 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 -2.01 -2.50 -3.29 -2.78 -2.77

Trigiant 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 -3.29 0.00 -2.78 0.00 -2.77

HKSE:01300 vs CSCO, MSI, HPE: Beneish M-Score Comparison

For the Communication Equipment subindustry, Trigiant 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.

Trigiant Group Beneish M-Score vs Hardware Industry

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

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


HKSE:01300
35GF Score
Trigiant Group Ltd HKSE:01300
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Trigiant 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 Trigiant 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 * 0.9783+0.528 * 1.0942+0.404 * 0.9331+0.892 * 1.0881+0.115 * 1.0446
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9563+4.679 * -0.080079-0.327 * 1.016
=-2.77

* 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$4,667 Mil.
Revenue was HK$2,915 Mil.
Gross Profit was HK$312 Mil.
Total Current Assets was HK$5,569 Mil.
Total Assets was HK$5,971 Mil.
Property, Plant and Equipment(Net PPE) was HK$231 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$20 Mil.
Selling, General, & Admin. Expense(SGA) was HK$101 Mil.
Total Current Liabilities was HK$1,948 Mil.
Long-Term Debt & Capital Lease Obligation was HK$1 Mil.
Net Income was HK$116 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$594 Mil.
 Total Receivables was HK$4,384 Mil.
Revenue was HK$2,679 Mil.
Gross Profit was HK$313 Mil.
Total Current Assets was HK$5,160 Mil.
Total Assets was HK$5,567 Mil.
Property, Plant and Equipment(Net PPE) was HK$237 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$21 Mil.
Selling, General, & Admin. Expense(SGA) was HK$98 Mil.
Total Current Liabilities was HK$1,723 Mil.
Long-Term Debt & Capital Lease Obligation was HK$65 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)
=(4666.772 / 2914.843) / (4384.153 / 2678.951)
=1.601037 / 1.636519
=0.9783

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)
=(313.478 / 2678.951) / (311.715 / 2914.843)
=0.117015 / 0.106941
=1.0942

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 - (5569.096 + 231.273) / 5970.973) / (1 - (5159.509 + 236.766) / 5566.731)
=0.028572 / 0.03062
=0.9331

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
=2914.843 / 2678.951
=1.0881

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))
=(21.336 / (21.336 + 236.766)) / (19.875 / (19.875 + 231.273))
=0.082665 / 0.079137
=1.0446

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)
=(101.49 / 2914.843) / (97.535 / 2678.951)
=0.034818 / 0.036408
=0.9563

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)
=((0.577 + 1948.438) / 5970.973) / ((65.128 + 1723.395) / 5566.731)
=0.326415 / 0.321288
=1.016

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
=(116.191 - 0 - 594.34) / 5970.973
=-0.080079

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.

Trigiant Group has a M-score of -2.77 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 -2.77 mean?
Trigiant Group (HKSE:01300) has a Beneish M-Score of -2.77 as of Aug. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Trigiant Group and its competitors. According to the industry distribution chart, Trigiant Group ranks #602 out of 2405 companies in the Hardware industry, placing it in the top 25%.
Is Trigiant Group's Beneish M-Score too high?
Trigiant Group's current Beneish M-Score is -2.77. Based on the distribution chart, Trigiant Group ranks #602 out of 2405 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Trigiant Group has a GF Score™ of 35/100, reflecting its overall financial health beyond just this single metric.
How does Trigiant Group's Beneish M-Score compare to CSCO and MSI?
According to the Hardware industry distribution chart, Trigiant Group ranks #602 out of 2405 companies for Beneish M-Score. This places Trigiant Group in the top 25% of its industry — outperforming the majority of peers. 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 Trigiant Group and its competitors. Trigiant Group's current Beneish M-Score is -2.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Trigiant Group stock overvalued right now?
Trigiant Group (HKSE:01300) has a current Beneish M-Score of -2.77. The current Beneish M-Score is -2.77. Trigiant Group's overall GF Score™ is 35/100 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 Trigiant Group (HKSE:01300), the current Beneish M-Score is -2.77 as of Aug. 24, 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.

Trigiant Group Business Description

Address No. 1 Junzhi Road, Industrial Park for Environmental Protection Science & Technology, Jiangsu Province, Yixing City, CHN, 214206
Trigiant Group Ltd is an investment holding company. Along with its subsidiaries, it is mainly engaged in the manufacture and sales of feeder cable series, optical fibre cable series, flame-retardant flexible cable series, and related products and other accessories for mobile communications and telecommunication equipment. The majority of the Group's revenue is generated from the Feeder cable and the Flame-retardant flexible cable series. Substantially all of its revenue is derived from the People's Republic of China (PRC).
35GF 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$1.48
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