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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 -2.96 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for China Hongqiao Group's Beneish M-Score or its related term are showing as below:
HKSE:01378'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.96 Med: -2.54 Max: -1.75
Current: -2.96
During the past 13 years, the highest Beneish M-Score of China Hongqiao Group was -1.75. The lowest was -2.96. And the median was -2.54.
China Hongqiao Group Beneish M-Score Related Terms
China Hongqiao Group Beneish M-Score Historical Data
* Premium members only.
The historical data trend for China Hongqiao 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:01378 vs AA, CENX, CSTM: Beneish M-Score Comparison
For the Aluminum subindustry, China Hongqiao 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 Hongqiao Group Beneish M-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, China Hongqiao Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where China Hongqiao Group's Beneish M-Score falls into.
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 Hongqiao 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 * 0.5934
+
0.528 * 1.0561
+
0.404 * 1.1195
+
0.892 * 1.0757
+
0.115 * 0.9726
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8537
+
4.679 * -0.06667
-
0.327 * 0.8956
=
-2.96
* 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))
=
(7012.481 / (7012.481 + 81983.179))
/
(7772.373 / (7772.373 + 88160.127))
=
0.078796
/
0.081019
=
0.9726
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
=
(25006.674 - 0
-
43079.263)
/
271076.364
=
-0.06667
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 Hongqiao Group has a M-score of -2.96 suggests that the company is unlikely to be a manipulator.
China Hongqiao Group (HKSE:01378) has a Beneish M-Score of -2.96 as of Jul. 20, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on China Hongqiao Group and its competitors. According to the industry distribution chart, China Hongqiao Group ranks #139 out of 680 companies in the Metals & Mining industry, placing it in the top 20.4%.
Is China Hongqiao Group's Beneish M-Score too high?
China Hongqiao Group's current Beneish M-Score is -2.96. Based on the distribution chart, China Hongqiao Group ranks #139 out of 680 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, China Hongqiao Group has a GF Score™ of 90/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does China Hongqiao Group's Beneish M-Score compare to AA and CENX?
According to the Metals & Mining industry distribution chart, China Hongqiao Group ranks #139 out of 680 companies for Beneish M-Score. This places China Hongqiao Group in the top 20% 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 Metals & Mining company?
A good Beneish M-Score depends on the Metals & Mining 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 Hongqiao Group and its competitors. China Hongqiao Group's current Beneish M-Score is -2.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Hongqiao Group stock overvalued right now?
Based on GuruFocus' analysis, China Hongqiao Group (HKSE:01378) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$14.69, compared to a current price of HK$22.66 — trading 54.3% above its estimated fair value. The current Beneish M-Score is -2.96. China Hongqiao Group's overall GF Score™ is 90/100 with 2 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 Hongqiao Group (HKSE:01378), the current Beneish M-Score is -2.96 as of Jul. 20, 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 Hongqiao Group (HKSE:01378) Overvalued in 2026?
Based on GuruFocus' analysis, China Hongqiao Group stock appears to be overvalued.
The current stock price of HK$22.66 is trading 54.3% above its estimated GF Value™ of HK$14.69.
GuruFocus considers China Hongqiao Group to be Significantly Overvalued.
Key valuation signals for HKSE:01378:
Beneish M-Score: -2.96
GF Value™: HK$14.69 vs. price of HK$22.66 (54.3% above fair value)
No single metric tells the full story. See the HKSE:01378 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Hongqiao Group Ltd manufactures and sells aluminum products. Its products include molten aluminum alloy, aluminum alloy ingots, aluminum busbars, aluminum alloy processing products, and alumina products. The company has the manufacturing and sale of aluminum products segment. The company's geographical segments are China and Indonesia out of which China accounts for the majority of the revenue.
90GF Score
Get the complete analysis for HKSE:01378
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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