Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Veson HoldingsHKSE:01399 39 Beneish M-Score is -2.53 as of Sep. 02, 2026. GuruFocus rates HKSE:01399 with a GF Score™ of 39/100 and a GF Value™ of HK$0.19 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 2,940 Industrial Products companies, Veson Holdings ranks better than 58.57% 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 -2.53 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Veson Holdings's Beneish M-Score or its related term are showing as below:
HKSE:01399'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.94 Med: -2.5 Max: -2.06
Current: -2.53
During the past 13 years, the highest Beneish M-Score of Veson Holdings was -2.06. The lowest was -2.94. And the median was -2.50.
The historical data trend for Veson 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.
For the Electrical Equipment & Parts subindustry, Veson 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.
Veson Holdings Beneish M-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Veson Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Veson Holdings'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 Veson Holdings 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 * 1.0998
+
0.528 * 0.937
+
0.404 * 0.8386
+
0.892 * 1.0116
+
0.115 * 1.1845
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0344
+
4.679 * -0.014218
-
0.327 * 0.9946
=
-2.53
* 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))
=
(113.639 / (113.639 + 610.159))
/
(100.206 / (100.206 + 655.788))
=
0.157004
/
0.132549
=
1.1845
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
=
(23.799 - 0
-
92.512)
/
4832.976
=
-0.014218
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.
Veson Holdings has a M-score of -2.53 suggests that the company is unlikely to be a manipulator.
Veson Holdings (HKSE:01399) has a Beneish M-Score of -2.53 as of Sep. 02, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Veson Holdings and its competitors. According to the industry distribution chart, Veson Holdings ranks #1218 out of 2940 companies in the Industrial Products industry, placing it in the top 41.4%.
Is Veson Holdings' Beneish M-Score too high?
Veson Holdings' current Beneish M-Score is -2.53. Based on the distribution chart, Veson Holdings ranks #1218 out of 2940 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Veson Holdings has a GF Score™ of 39/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Veson Holdings' Beneish M-Score compare to VRT and BE?
According to the Industrial Products industry distribution chart, Veson Holdings ranks #1218 out of 2940 companies for Beneish M-Score. This puts Veson Holdings in the upper 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Veson Holdings and its competitors. Veson Holdings's current Beneish M-Score is -2.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Veson Holdings stock overvalued right now?
Based on GuruFocus' analysis, Veson Holdings (HKSE:01399) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.19, compared to a current price of HK$0.38 — trading 100% above its estimated fair value. The current Beneish M-Score is -2.53. Veson Holdings' overall GF Score™ is 39/100 with 3 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 Veson Holdings (HKSE:01399), the current Beneish M-Score is -2.53 as of Sep. 02, 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 Veson Holdings (HKSE:01399) Overvalued in 2026?
Based on GuruFocus' analysis, Veson Holdings stock appears to be overvalued.
The current stock price of HK$0.38 is trading 100% above its estimated GF Value™ of HK$0.19.
GuruFocus considers Veson Holdings to be Significantly Overvalued.
Key valuation signals for HKSE:01399:
Beneish M-Score: -2.53
GF Value™: HK$0.19 vs. price of HK$0.38 (100% above fair value)
No single metric tells the full story. See the HKSE:01399 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Veson Holdings Ltd is an investment holding company, along with its subsidiaries, that is principally engaged in the manufacture and sale of lithium-ion battery modules and related accessories for mobile phones, tablets, and digital electronic appliances, while also engaging in the manufacture and sale of lithium-ion bare battery cells. Its reportable segments are ODM business, Bare battery cell business, and Others. It genertates the majority of its revenue from ODM business that engaged in the manufacture and supply of lithium-ion battery modules, power banks, motive battery, and related accessories for branded mobile phone, notebooks, tablets manufacturers within and outside China, and the provision of processing services.
39GF Score
Get the complete analysis for HKSE:01399
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
HKSE:01399 has been successfully added to your 
