Beijing Sports and Entertainment Industry Group (HKSE:01803) Beneish M-Score: -2.35 (As of Aug. 21, 2026)

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What is Beijing Sports and Entertainment Industry Group Beneish M-Score?

Beijing Sports and Entertainment Industry Group HKSE:01803 -2.56% Beneish M-Score is -2.35 as of Aug. 21, 2026. The stock has 4 warning signs investors should review. Among 820 Travel & Leisure companies, Beijing Sports and Entertainment Industry Group ranks worse than 71.46% 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 -2.35 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Beijing Sports and Entertainment Industry Group's Beneish M-Score or its related term are showing as below:

HKSE:01803' s Beneish M-Score Range Over the Past 10 Years
Min: -4.38   Med: -2.64   Max: 8.76
Current: -2.35

During the past 13 years, the highest Beneish M-Score of Beijing Sports and Entertainment Industry Group was 8.76. The lowest was -4.38. And the median was -2.64.

Beijing Sports and Entertainment Industry Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Beijing Sports and Entertainment Industry Group'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.

Beijing Sports and Entertainment Industry Group Beneish M-Score Chart

Beijing Sports and Entertainment Industry Group 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 -2.96 -2.93 -3.44 -1.27 -2.35

Beijing Sports and Entertainment Industry Group Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 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 Premium Member Only Premium Member Only Premium Member Only -3.44 0.00 -1.27 0.00 -2.35

HKSE:01803 vs AS, HAS, LTH: Beneish M-Score Comparison

For the Leisure subindustry, Beijing Sports and Entertainment Industry Group'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.

Beijing Sports and Entertainment Industry Group Beneish M-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Beijing Sports and Entertainment Industry Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Beijing Sports and Entertainment Industry Group's Beneish M-Score falls into.


Beijing Sports and Entertainment Industry Group 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 Beijing Sports and Entertainment Industry Group 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 * 0.842+0.528 * 1.1811+0.404 * 1.0789+0.892 * 1.1234+0.115 * 0.9893
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8709+4.679 * 0.010881-0.327 * 1.102
=-2.35

* 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$115.3 Mil.
Revenue was HK$190.6 Mil.
Gross Profit was HK$28.6 Mil.
Total Current Assets was HK$290.3 Mil.
Total Assets was HK$396.6 Mil.
Property, Plant and Equipment(Net PPE) was HK$77.1 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$8.4 Mil.
Selling, General, & Admin. Expense(SGA) was HK$65.2 Mil.
Total Current Liabilities was HK$274.9 Mil.
Long-Term Debt & Capital Lease Obligation was HK$4.6 Mil.
Net Income was HK$-24.7 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$-29.0 Mil.
 Total Receivables was HK$121.9 Mil.
Revenue was HK$169.7 Mil.
Gross Profit was HK$30.0 Mil.
Total Current Assets was HK$311.8 Mil.
Total Assets was HK$421.7 Mil.
Property, Plant and Equipment(Net PPE) was HK$81.1 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$8.7 Mil.
Selling, General, & Admin. Expense(SGA) was HK$66.7 Mil.
Total Current Liabilities was HK$263.5 Mil.
Long-Term Debt & Capital Lease Obligation was HK$6.2 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)
=(115.287 / 190.595) / (121.879 / 169.653)
=0.604879 / 0.718402
=0.842

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)
=(30.049 / 169.653) / (28.582 / 190.595)
=0.17712 / 0.149962
=1.1811

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 - (290.34 + 77.075) / 396.646) / (1 - (311.815 + 81.071) / 421.689)
=0.073695 / 0.068304
=1.0789

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
=190.595 / 169.653
=1.1234

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))
=(8.685 / (8.685 + 81.071)) / (8.356 / (8.356 + 77.075))
=0.096762 / 0.09781
=0.9893

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)
=(65.236 / 190.595) / (66.675 / 169.653)
=0.342276 / 0.393008
=0.8709

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)
=((4.621 + 274.913) / 396.646) / ((6.195 + 263.49) / 421.689)
=0.704744 / 0.639535
=1.102

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
=(-24.688 - 0 - -29.004) / 396.646
=0.010881

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.

Beijing Sports and Entertainment Industry Group has a M-score of -2.35 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 -2.35 mean?
Beijing Sports and Entertainment Industry Group (HKSE:01803) has a Beneish M-Score of -2.35 as of Aug. 21, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Beijing Sports and Entertainment Industry Group and its competitors. According to the industry distribution chart, Beijing Sports and Entertainment Industry Group ranks #586 out of 820 companies in the Travel & Leisure industry, placing it in the top 71.5%.
Is Beijing Sports and Entertainment Industry Group's Beneish M-Score too high?
Beijing Sports and Entertainment Industry Group's current Beneish M-Score is -2.35. Based on the distribution chart, Beijing Sports and Entertainment Industry Group ranks #586 out of 820 companies in the Travel & Leisure industry, which is below the industry midpoint.
How does Beijing Sports and Entertainment Industry Group's Beneish M-Score compare to AS and HAS?
According to the Travel & Leisure industry distribution chart, Beijing Sports and Entertainment Industry Group ranks #586 out of 820 companies for Beneish M-Score. This places Beijing Sports and Entertainment Industry Group 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 Travel & Leisure company?
A good Beneish M-Score depends on the Travel & Leisure 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 Beijing Sports and Entertainment Industry Group and its competitors. Beijing Sports and Entertainment Industry Group's current Beneish M-Score is -2.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Beijing Sports and Entertainment Industry Group stock overvalued right now?
Based on GuruFocus' analysis, Beijing Sports and Entertainment Industry Group (HKSE:01803) is currently considered Possible Value Trap. The stock's GF Value™ is HK$0.26, compared to a current price of HK$0.08 — trading 70.8% below its estimated fair value. The current Beneish M-Score is -2.35. 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 Beijing Sports and Entertainment Industry Group (HKSE:01803), the current Beneish M-Score is -2.35 as of Aug. 21, 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.

Beijing Sports and Entertainment Industry Group Business Description

Address Chaoyang Park, Eastern Building, Tennis Centre, Chaoyang District, Beijing, CHN
Beijing Sports and Entertainment Industry Group Ltd is engaged in the sports and entertainment related industry in the PRC with focus on air dome construction, operation, and management. The air domes can be widely applied in five scopes: sports, commercial and cultural tourism, industrial and environmental protection, agricultural warehousing, and highland oxygen enrichment. It operates in one business segment, which is the sports and entertainment segment, engaging in air dome construction, operation, and management, and other peripheral services such as sports industry related consultation and management services. Geographically, it operates in Mainland China and Indonesia.