Zhongmiao Holdings (Qingdao) Co (HKSE:01471) Beneish M-Score: -2.83 (As of Aug. 29, 2026)

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HKSE:01471 Zhongmiao Holdings (Qingdao) Co Ltd HKSE:01471
20 GF Score
Price HK$8.16
! 3 Warning Signs
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What is Zhongmiao Holdings (Qingdao) Co Beneish M-Score?

Zhongmiao Holdings (Qingdao) Co HKSE:01471 +0.06% 20 Beneish M-Score is -2.83 as of Aug. 29, 2026. GuruFocus rates HKSE:01471 with a GF Score™ of 20/100. The stock has 3 warning signs investors should review. Among 404 Insurance companies, Zhongmiao Holdings (Qingdao) Co ranks better than 78.47% 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 -2.83 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Zhongmiao Holdings (Qingdao) Co's Beneish M-Score or its related term are showing as below:

HKSE:01471' s Beneish M-Score Range Over the Past 10 Years
Min: -2.83   Med: -1.96   Max: 2.88
Current: -2.83

During the past 5 years, the highest Beneish M-Score of Zhongmiao Holdings (Qingdao) Co was 2.88. The lowest was -2.83. And the median was -1.96.

Zhongmiao Holdings (Qingdao) Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Zhongmiao Holdings (Qingdao) Co'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.

Zhongmiao Holdings (Qingdao) Co Beneish M-Score Chart

Zhongmiao Holdings (Qingdao) Co Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 2.88 -1.96 -2.83

Zhongmiao Holdings (Qingdao) Co Semi-Annual Data
Dec21 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial 2.88 0.00 -1.96 0.00 -2.83

HKSE:01471 vs MRSH, AON, AJG: Beneish M-Score Comparison

For the Insurance Brokers subindustry, Zhongmiao Holdings (Qingdao) Co'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.

Zhongmiao Holdings (Qingdao) Co Beneish M-Score vs Insurance Industry

For the Insurance industry and Financial Services sector, Zhongmiao Holdings (Qingdao) Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Zhongmiao Holdings (Qingdao) Co's Beneish M-Score falls into.


HKSE:01471
20GF Score
Zhongmiao Holdings (Qingdao) Co Ltd HKSE:01471
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Zhongmiao Holdings (Qingdao) Co 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 Zhongmiao Holdings (Qingdao) Co 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 * 0.9767+0.528 * 1.0454+0.404 * 1.4741+0.892 * 1.247+0.115 * 2.3604
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8904+4.679 * -0.036319-0.327 * 3.3685
=-2.83

* 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$54.6 Mil.
Revenue was HK$274.0 Mil.
Gross Profit was HK$100.4 Mil.
Total Current Assets was HK$744.4 Mil.
Total Assets was HK$1,141.6 Mil.
Property, Plant and Equipment(Net PPE) was HK$15.7 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$3.1 Mil.
Selling, General, & Admin. Expense(SGA) was HK$29.8 Mil.
Total Current Liabilities was HK$126.8 Mil.
Long-Term Debt & Capital Lease Obligation was HK$97.2 Mil.
Net Income was HK$57.1 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$98.6 Mil.
 Total Receivables was HK$44.8 Mil.
Revenue was HK$219.8 Mil.
Gross Profit was HK$84.2 Mil.
Total Current Assets was HK$522.6 Mil.
Total Assets was HK$678.4 Mil.
Property, Plant and Equipment(Net PPE) was HK$2.0 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$1.3 Mil.
Selling, General, & Admin. Expense(SGA) was HK$26.9 Mil.
Total Current Liabilities was HK$39.5 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.0 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)
=(54.568 / 274.028) / (44.805 / 219.756)
=0.199133 / 0.203885
=0.9767

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)
=(84.162 / 219.756) / (100.393 / 274.028)
=0.382979 / 0.36636
=1.0454

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 - (744.366 + 15.727) / 1141.571) / (1 - (522.561 + 2.046) / 678.391)
=0.334169 / 0.226689
=1.4741

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
=274.028 / 219.756
=1.247

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))
=(1.279 / (1.279 + 2.046)) / (3.062 / (3.062 + 15.727))
=0.384662 / 0.162968
=2.3604

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)
=(29.846 / 274.028) / (26.882 / 219.756)
=0.108916 / 0.122327
=0.8904

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)
=((97.216 + 126.83) / 1141.571) / ((0 + 39.526) / 678.391)
=0.196261 / 0.058264
=3.3685

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
=(57.114 - 0 - 98.575) / 1141.571
=-0.036319

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.

Zhongmiao Holdings (Qingdao) Co has a M-score of -2.83 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 -2.83 mean?
Zhongmiao Holdings (Qingdao) Co (HKSE:01471) has a Beneish M-Score of -2.83 as of Aug. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Zhongmiao Holdings (Qingdao) Co and its competitors. According to the industry distribution chart, Zhongmiao Holdings (Qingdao) Co ranks #87 out of 404 companies in the Insurance industry, placing it in the top 21.5%.
Is Zhongmiao Holdings (Qingdao) Co's Beneish M-Score too high?
Zhongmiao Holdings (Qingdao) Co's current Beneish M-Score is -2.83. Based on the distribution chart, Zhongmiao Holdings (Qingdao) Co ranks #87 out of 404 companies in the Insurance industry, which is in the top quartile — a strong position relative to peers. Overall, Zhongmiao Holdings (Qingdao) Co has a GF Score™ of 20/100, reflecting its overall financial health beyond just this single metric.
How does Zhongmiao Holdings (Qingdao) Co's Beneish M-Score compare to MRSH and AON?
According to the Insurance industry distribution chart, Zhongmiao Holdings (Qingdao) Co ranks #87 out of 404 companies for Beneish M-Score. This places Zhongmiao Holdings (Qingdao) Co in the top 22% 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 an Insurance company?
A good Beneish M-Score depends on the Insurance 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 Zhongmiao Holdings (Qingdao) Co and its competitors. Zhongmiao Holdings (Qingdao) Co's current Beneish M-Score is -2.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zhongmiao Holdings (Qingdao) Co stock overvalued right now?
Zhongmiao Holdings (Qingdao) Co (HKSE:01471) has a current Beneish M-Score of -2.83. The current Beneish M-Score is -2.83. Zhongmiao Holdings (Qingdao) Co's overall GF Score™ is 20/100 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 Zhongmiao Holdings (Qingdao) Co (HKSE:01471), the current Beneish M-Score is -2.83 as of Aug. 29, 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.

Zhongmiao Holdings (Qingdao) Co Business Description

Address No. 1, Haier Road, Laoshan District, Shandong, Qingdao, CHN
Zhongmiao Holdings (Qingdao) Co Ltd is principally engaged in providing insurance agency services, insurance technology services and banking technology services in the PRC. The Company is mainly engaged in the provision of insurance technology services. Its insurance products include property insurance products, life and health insurance products, accident insurance products, and automobile insurance products. The Group operates through insurance agency services, insurance technology services and banking technology services segments, with insurance agency services generating maximum revenue.
20GF 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$8.16
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