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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 -13.05 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for China Ecotourism Group's Beneish M-Score or its related term are showing as below:
HKSE:01371'
s Beneish M-Score Range Over the Past 10 Years
Min: -13.05 Med: -5.11 Max: 5.33
Current: -13.05
During the past 13 years, the highest Beneish M-Score of China Ecotourism Group was 5.33. The lowest was -13.05. And the median was -5.11.
China Ecotourism Group Beneish M-Score Related Terms
China Ecotourism Group Beneish M-Score Historical Data
* Premium members only.
The historical data trend for China Ecotourism 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.
HKSE:01371 vs FLUT, DKNG, SGHC: Beneish M-Score Comparison
For the Gambling subindustry, China Ecotourism 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.
China Ecotourism Group Beneish M-Score vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, China Ecotourism Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where China Ecotourism Group's Beneish M-Score falls into.
China Ecotourism 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 China Ecotourism 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 * 0.7158
+
0.528 * 0.9982
+
0.404 * 2.7723
+
0.892 * 0.5301
+
0.115 * 1
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9534
+
4.679 * -2.040899
-
0.327 * 4.2608
=
-13.05
* 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.
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.
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 / (0 + 348.184))
/
(12.684 / (12.684 + 4.342))
=
0
/
0.744978
=
1
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
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
=
(-271.967 - 0
-
-38.08)
/
114.6
=
-2.040899
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.
China Ecotourism Group has a M-score of -13.05 suggests that the company is unlikely to be a manipulator.
China Ecotourism Group (HKSE:01371) has a Beneish M-Score of -13.05 as of Jul. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on China Ecotourism Group and its competitors. According to the industry distribution chart, China Ecotourism Group ranks #4 out of 822 companies in the Travel & Leisure industry, placing it in the top 0.5%.
Is China Ecotourism Group's Beneish M-Score too high?
China Ecotourism Group's current Beneish M-Score is -13.05. Based on the distribution chart, China Ecotourism Group ranks #4 out of 822 companies in the Travel & Leisure industry, which is in the top quartile — a strong position relative to peers. Overall, China Ecotourism Group has a GF Score™ of 29/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does China Ecotourism Group's Beneish M-Score compare to FLUT and DKNG?
According to the Travel & Leisure industry distribution chart, China Ecotourism Group ranks #4 out of 822 companies for Beneish M-Score. This places China Ecotourism Group in the top 1% 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 Travel & Leisure company?
A good Beneish M-Score depends on the Travel & Leisure 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 China Ecotourism Group and its competitors. China Ecotourism Group's current Beneish M-Score is -13.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Ecotourism Group stock overvalued right now?
Based on GuruFocus' analysis, China Ecotourism Group (HKSE:01371) is currently considered Possible Value Trap. The stock's GF Value™ is HK$1.47, compared to a current price of HK$1.00 — trading 32% below its estimated fair value. The current Beneish M-Score is -13.05. China Ecotourism Group's overall GF Score™ is 29/100 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 China Ecotourism Group (HKSE:01371), the current Beneish M-Score is -13.05 as of Jul. 13, 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 China Ecotourism Group (HKSE:01371) Overvalued in 2026?
Based on GuruFocus' analysis, China Ecotourism Group stock appears to be undervalued.
The current stock price of HK$1.00 is trading 32% below its estimated GF Value™ of HK$1.47.
GuruFocus considers China Ecotourism Group to be Possible Value Trap.
Key valuation signals for HKSE:01371:
Beneish M-Score: -13.05
GF Value™: HK$1.47 vs. price of HK$1.00 (32% below fair value)
No single metric tells the full story. See the HKSE:01371 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Ecotourism Group Ltd is an investment holding company. Along with its subsidiaries, the firm is engaged in the business of the provision of technology and operation services for lottery systems, terminal equipment, and gaming products and their operations in China's lottery market. It offers various lottery products ranging from video lottery, computer ticket games, and KENO-type lottery. The segments of the group are Lottery systems, terminal equipment, and related products, which is the key revenue-generating segment; Ecotourism; and Natural and health food. It has a business presence in the PRC, Hong Kong, and Others of which a majority of revenue is derived from the PRC.
29GF Score
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