Hope Life International Holdings (HKSE:01683) Beneish M-Score : 0.00 (As of Dec. 16, 2024)

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What is Hope Life International Holdings Beneish M-Score?

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.

The historical rank and industry rank for Hope Life International Holdings's Beneish M-Score or its related term are showing as below:

During the past 9 years, the highest Beneish M-Score of Hope Life International Holdings was 10000000.00. The lowest was -0.59. And the median was 4.68.

Hope Life International Holdings Beneish M-Score Historical Data

The historical data trend for Hope Life International 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.

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Hope Life International Holdings Beneish M-Score Chart

Hope Life International Holdings Annual Data

Trend

Sep14

Sep15

Sep16

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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4.68

-0.59

Hope Life International Holdings Semi-Annual Data
	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
Beneish M-Score	Get a 7-Day Free Trial														-	-	-	-	-

Competitive Comparison of Hope Life International Holdings's Beneish M-Score

For the Engineering & Construction subindustry, Hope Life International 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.

Hope Life International Holdings's Beneish M-Score Distribution in the Construction Industry

For the Construction industry and Industrials sector, Hope Life International Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Hope Life International Holdings's Beneish M-Score falls into.

Hope Life International Holdings 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 Hope Life International Holdings for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was HK$316.6 Mil.
Revenue was HK$293.2 Mil.
Gross Profit was HK$60.8 Mil.
Total Current Assets was HK$455.9 Mil.
Total Assets was HK$480.9 Mil.
Property, Plant and Equipment(Net PPE) was HK$25.0 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$4.5 Mil.
Selling, General, & Admin. Expense(SGA) was HK$45.9 Mil.
Total Current Liabilities was HK$117.4 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.0 Mil.
Net Income was HK$-5.6 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$-154.3 Mil.

Total Receivables was HK$112.8 Mil.
Revenue was HK$190.7 Mil.
Gross Profit was HK$34.5 Mil.
Total Current Assets was HK$310.0 Mil.
Total Assets was HK$340.2 Mil.
Property, Plant and Equipment(Net PPE) was HK$30.2 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$4.5 Mil.
Selling, General, & Admin. Expense(SGA) was HK$21.6 Mil.
Total Current Liabilities was HK$90.9 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.9 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)
	=	(316.627 / 293.151)	/	(112.783 / 190.652)
	=	1.080082	/	0.591565
	=

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)
	=	(34.524 / 190.652)	/	(60.823 / 293.151)
	=	0.181084	/	0.20748
	=

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 - (455.907 + 24.995) / 480.902)	/	(1 - (310.048 + 30.155) / 340.203)
	=	0	/	0
	=

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
	=	293.151	/	190.652
	=

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))
	=	(4.527 / (4.527 + 30.155))	/	(4.507 / (4.507 + 24.995))
	=	0.130529	/	0.152769
	=

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)
	=	(45.875 / 293.151)	/	(21.595 / 190.652)
	=	0.156489	/	0.113269
	=

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)
	=	((0 + 117.431) / 480.902)	/	((0.885 + 90.902) / 340.203)
	=	0.244189	/	0.269801
	=

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
	=	(-5.635 - 0	-	-154.314)	/	480.902
	=	0.309167

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.

Hope Life International Holdings Beneish M-Score Related Terms

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Hope Life International Holdings Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Construction » Hope Life International Holdings Ltd (HKSE:01683) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Nos. 194-204 Johnston Road, Flat 1703, 17th Floor, Wanchai Commercial Centre, Hong Kong, HKG

Website

https://www.hopelife.hk

Hope Life International Holdings Ltd is an investment holding company. The company reports in three segments: The Construction & ancillary, which generates the majority of its revenue; Financial business, and Consumer goods business. The Construction & ancillary services segment is engaged in the design, fitting out, decoration, alteration and addition, construction and other related businesses. The financial business segment is engaged in the providing of money lending services. Consumer goods business produces and sells food and beverage products. Its geographical segments are Hong Kong and the PRC, of which a majority of its revenue comes from Hong Kong.

Executives

Ample Platinum Enterprises Limited	2101 Beneficial owner
Hui Kee Fung	2201 Interest of corporation controlled by you
Soaring Holdings Limited	2201 Interest of corporation controlled by you
Shen Jie	2201 Interest of corporation controlled by you
Voice Chosen Investment Limited	2106 Person having a security interest in shares
Shen Yan	2201 Interest of corporation controlled by you
Niu Fang	2201 Interest of corporation controlled by you
State Energy Hk Limited	2101 Beneficial owner
He Yun	2106 Person having a security interest in shares
Shang Hai Zhong She Gu Quan Tou Zi Ji Jin You Xian Gong Si	2201 Interest of corporation controlled by you
Shang Hai Guo Ming Gu Quan Tou Zi Ji Jin Guan Li You Xian Gong Si	2201 Interest of corporation controlled by you
Liu Quan Hui	2201 Interest of corporation controlled by you
Guo Neng Shang Ye Ji Tuan You Xian Gong Si	2201 Interest of corporation controlled by you
Hu Zhang Cui	2202 Interest of your spouse

Hope Life International Holdings Headlines

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