Qian Xun Technology (HKSE:01640) Beneish M-Score: 1.44 (As of Aug. 12, 2026)

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HKSE:01640 Qian Xun Technology Ltd HKSE:01640
70 GF Score
Price HK$0.43
GF Value HK$5.10
Valuation Possible Value Trap
! 7 Warning Signs
View Full Analysis

What is Qian Xun Technology Beneish M-Score?

Qian Xun Technology HKSE:01640 -3.37% 70 Beneish M-Score is 1.44 as of Aug. 12, 2026. GuruFocus rates HKSE:01640 with a GF Score™ of 70/100 and a GF Value™ of HK$5.10 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 969 Media - Diversified companies, Qian Xun Technology ranks worse than 95.67% 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.

Warning Sign:

Beneish M-Score 1.44 higher than -1.78, which implies that the company might have manipulated its financial results.

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

HKSE:01640' s Beneish M-Score Range Over the Past 10 Years
Min: -2.46   Med: -1.13   Max: 1.44
Current: 1.44

During the past 10 years, the highest Beneish M-Score of Qian Xun Technology was 1.44. The lowest was -2.46. And the median was -1.13.

Qian Xun Technology Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Qian Xun Technology'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.

Qian Xun Technology Beneish M-Score Chart

Qian Xun Technology 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 -2.15 -1.10 -2.34 -2.46 1.44

Qian Xun Technology Semi-Annual Data
Dec16 Dec17 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 -2.34 0.00 -2.46 0.00 1.44

HKSE:01640 vs APP, OMC, TTD: Beneish M-Score Comparison

For the Advertising Agencies subindustry, Qian Xun Technology'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.

Qian Xun Technology Beneish M-Score vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Qian Xun Technology's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Qian Xun Technology's Beneish M-Score falls into.


HKSE:01640
70GF Score
Qian Xun Technology Ltd HKSE:01640
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Qian Xun Technology 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 Qian Xun Technology 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 * 0.2843+0.528 * 2.0344+0.404 * 0.7113+0.892 * 4.3309+0.115 * 1.9158
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.4357+4.679 * 0.213062-0.327 * 1.073
=1.44

* 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$388 Mil.
Revenue was HK$1,650 Mil.
Gross Profit was HK$51 Mil.
Total Current Assets was HK$564 Mil.
Total Assets was HK$692 Mil.
Property, Plant and Equipment(Net PPE) was HK$9 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$6 Mil.
Selling, General, & Admin. Expense(SGA) was HK$47 Mil.
Total Current Liabilities was HK$468 Mil.
Long-Term Debt & Capital Lease Obligation was HK$26 Mil.
Net Income was HK$-14 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$-161 Mil.
 Total Receivables was HK$315 Mil.
Revenue was HK$381 Mil.
Gross Profit was HK$24 Mil.
Total Current Assets was HK$371 Mil.
Total Assets was HK$490 Mil.
Property, Plant and Equipment(Net PPE) was HK$0 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$1 Mil.
Selling, General, & Admin. Expense(SGA) was HK$25 Mil.
Total Current Liabilities was HK$324 Mil.
Long-Term Debt & Capital Lease Obligation was HK$2 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)
=(388.318 / 1649.992) / (315.407 / 380.981)
=0.235345 / 0.827881
=0.2843

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)
=(24.018 / 380.981) / (51.13 / 1649.992)
=0.063043 / 0.030988
=2.0344

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 - (563.844 + 8.871) / 691.776) / (1 - (371.221 + 0.413) / 490.26)
=0.172109 / 0.241965
=0.7113

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
=1649.992 / 380.981
=4.3309

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))
=(1.338 / (1.338 + 0.413)) / (5.886 / (5.886 + 8.871))
=0.764135 / 0.398862
=1.9158

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)
=(46.51 / 1649.992) / (24.649 / 380.981)
=0.028188 / 0.064699
=0.4357

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)
=((25.825 + 467.842) / 691.776) / ((2.104 + 323.951) / 490.26)
=0.713623 / 0.665065
=1.073

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
=(-13.798 - 0 - -161.189) / 691.776
=0.213062

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.

Qian Xun Technology has a M-score of 1.44 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 1.44 mean?
Qian Xun Technology (HKSE:01640) has a Beneish M-Score of 1.44 as of Aug. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Qian Xun Technology and its competitors. According to the industry distribution chart, Qian Xun Technology ranks #927 out of 969 companies in the Media - Diversified industry, placing it in the top 95.7%.
Is Qian Xun Technology's Beneish M-Score too high?
Qian Xun Technology's current Beneish M-Score is 1.44. Based on the distribution chart, Qian Xun Technology ranks #927 out of 969 companies in the Media - Diversified industry, which is in the bottom quartile relative to peers. Overall, Qian Xun Technology has a GF Score™ of 70/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Qian Xun Technology's Beneish M-Score compare to APP and OMC?
According to the Media - Diversified industry distribution chart, Qian Xun Technology ranks #927 out of 969 companies for Beneish M-Score. This places Qian Xun Technology in the lower 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 a Media - Diversified company?
A good Beneish M-Score depends on the Media - Diversified 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 Qian Xun Technology and its competitors. Qian Xun Technology's current Beneish M-Score is 1.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Qian Xun Technology stock overvalued right now?
Based on GuruFocus' analysis, Qian Xun Technology (HKSE:01640) is currently considered Possible Value Trap. The stock's GF Value™ is HK$5.10, compared to a current price of HK$0.43 — trading 91.6% below its estimated fair value. The current Beneish M-Score is 1.44. Qian Xun Technology's overall GF Score™ is 70/100 with 7 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 Qian Xun Technology (HKSE:01640), the current Beneish M-Score is 1.44 as of Aug. 12, 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 Qian Xun Technology (HKSE:01640) Overvalued in 2026?

Based on GuruFocus' analysis, Qian Xun Technology stock appears to be undervalued. The current stock price of HK$0.43 is trading 91.6% below its estimated GF Value™ of HK$5.10. GuruFocus considers Qian Xun Technology to be Possible Value Trap.

Key valuation signals for HKSE:01640:

  • Beneish M-Score: 1.44
  • GF Value™: HK$5.10 vs. price of HK$0.43 (91.6% below fair value)
  • GF Score™: 70/100 with 7 warning signs

No single metric tells the full story. See the HKSE:01640 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Qian Xun Technology Business Description

Address No. 32 Liangmaqiao Road, 1716-01, 15th Floor, Chaoyang District, Beijing, CHN
Qian Xun Technology Ltd is a service provider in the pre-owned digital device trading sector, dedicated to secondhand electronics transactions through AI technology and SaaS platforms, addressing surging market demand amid value-conscious consumption trends. Company has two reportable segments Advertisement segment and Pre-owned E-commerce segment which includes recycling of pre-owned 3C products via multiple channels, including its online platform, self-service kiosks at partner locations, and company-owned retail stores. Leveraging AI and SaaS capabilities, it delivers end-to-end solutions such as precision pricing, intelligent omnichannel distribution, and inventory optimization, enhancing transaction efficiency and profitability margins across the ecosystem.
70GF Score

Get the complete analysis for HKSE:01640

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

HK$0.43
Price
HK$5.10
GF Value