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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 -2.49 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Lingyi Itech (Guangdong) Co's Beneish M-Score or its related term are showing as below:
HKSE:01688'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.4 Med: -2.41 Max: 3.29
Current: -2.49
During the past 13 years, the highest Beneish M-Score of Lingyi Itech (Guangdong) Co was 3.29. The lowest was -3.40. And the median was -2.41.
* 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:01688 vs APH, GLW, TEL: Beneish M-Score Comparison
For the Electronic Components subindustry, Lingyi Itech (Guangdong) 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.
Lingyi Itech (Guangdong) Co Beneish M-Score vs Hardware Industry
For the Hardware industry and Technology sector, Lingyi Itech (Guangdong) Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Lingyi Itech (Guangdong) Co's Beneish M-Score falls into.
Lingyi Itech (Guangdong) 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 Lingyi Itech (Guangdong) 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 * 1.0801
+
0.528 * 0.9798
+
0.404 * 1.0985
+
0.892 * 1.1728
+
0.115 * 1
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0088
+
4.679 * -0.039917
-
0.327 * 1.0316
=
-2.42
* 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))
=
(0 / (0 + 15163.785))
/
(0 / (0 + 21681.629))
=
0
/
0
=
1
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
=
(2331.396 - 0
-
4880.446)
/
63859.451
=
-0.039917
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.
Lingyi Itech (Guangdong) Co has a M-score of -2.42 suggests that the company is unlikely to be a manipulator.
Lingyi Itech (Guangdong) Co (HKSE:01688) has a Beneish M-Score of -2.49 as of Aug. 20, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Lingyi Itech (Guangdong) Co and its competitors. According to the industry distribution chart, Lingyi Itech (Guangdong) Co ranks #1039 out of 2403 companies in the Hardware industry, placing it in the top 43.2%.
Is Lingyi Itech (Guangdong) Co's Beneish M-Score too high?
Lingyi Itech (Guangdong) Co's current Beneish M-Score is -2.49. Based on the distribution chart, Lingyi Itech (Guangdong) Co ranks #1039 out of 2403 companies in the Hardware industry, which is above the industry midpoint. Overall, Lingyi Itech (Guangdong) Co has a GF Score™ of 68/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Lingyi Itech (Guangdong) Co's Beneish M-Score compare to APH and GLW?
According to the Hardware industry distribution chart, Lingyi Itech (Guangdong) Co ranks #1039 out of 2403 companies for Beneish M-Score. This puts Lingyi Itech (Guangdong) Co 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 a Hardware company?
A good Beneish M-Score depends on the Hardware 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 Lingyi Itech (Guangdong) Co and its competitors. Lingyi Itech (Guangdong) Co's current Beneish M-Score is -2.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lingyi Itech (Guangdong) Co stock overvalued right now?
Based on GuruFocus' analysis, Lingyi Itech (Guangdong) Co (HKSE:01688) is currently considered Modestly Overvalued. The stock's GF Value™ is HK$5.34, compared to a current price of HK$6.17 — trading 15.5% above its estimated fair value. The current Beneish M-Score is -2.49. Lingyi Itech (Guangdong) Co's overall GF Score™ is 68/100 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 Lingyi Itech (Guangdong) Co (HKSE:01688), the current Beneish M-Score is -2.49 as of Aug. 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 Lingyi Itech (Guangdong) Co (HKSE:01688) Overvalued in 2026?
Based on GuruFocus' analysis, Lingyi Itech (Guangdong) Co stock appears to be overvalued.
The current stock price of HK$6.17 is trading 15.5% above its estimated GF Value™ of HK$5.34.
GuruFocus considers Lingyi Itech (Guangdong) Co to be Modestly Overvalued.
Key valuation signals for HKSE:01688:
Beneish M-Score: -2.49
GF Value™: HK$5.34 vs. price of HK$6.17 (15.5% above fair value)
No single metric tells the full story. See the HKSE:01688 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lingyi Itech (Guangdong) Co Ltd is engaged in the manufacturing of precision functional components, structural modules, and intelligent assembly solutions for the consumer electronics, automotive, and energy storage industries. The company operates three segments. The AI Terminal segment covers AI-powered mobile phones, folding-screen devices, PCs, tablets, display solutions, battery systems, thermal management, AI glasses, XR wearables, sensors, robotics, and related hardware. The Automotive and Low-Altitude Economy segment includes battery structural parts, brake modules, lidar, electronic steering systems, and carbon fiber products. The Other segment focuses on clean energy and photovoltaic storage, including micro inverters, outdoor power solutions, and related products.
68GF Score
Get the complete analysis for HKSE:01688
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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