Weigang Environmental Technology Holding Group (HKSE:01845) Beneish M-Score: -3.87 (As of Aug. 17, 2026)

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HKSE:01845 Weigang Environmental Technology Holding Group Ltd HKSE:01845
39 GF Score
Price HK$0.18
GF Value HK$0.13
Valuation Significantly Overvalued
! 5 Warning Signs
View Full Analysis

What is Weigang Environmental Technology Holding Group Beneish M-Score?

Weigang Environmental Technology Holding Group HKSE:01845 39 Beneish M-Score is -3.87 as of Aug. 17, 2026. GuruFocus rates HKSE:01845 with a GF Score™ of 39/100 and a GF Value™ of HK$0.13 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 225 Waste Management companies, Weigang Environmental Technology Holding Group ranks better than 90.67% 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.

Good Sign:

Beneish M-Score -3.87 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Weigang Environmental Technology Holding Group's Beneish M-Score or its related term are showing as below:

HKSE:01845' s Beneish M-Score Range Over the Past 10 Years
Min: -3.87   Med: -2.6   Max: 0.62
Current: -3.87

During the past 11 years, the highest Beneish M-Score of Weigang Environmental Technology Holding Group was 0.62. The lowest was -3.87. And the median was -2.60.

Weigang Environmental Technology Holding Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Weigang Environmental Technology Holding 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.

Weigang Environmental Technology Holding Group Beneish M-Score Chart

Weigang Environmental Technology Holding 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 -2.60 -3.38 -2.86 -3.03 -3.87

Weigang Environmental Technology Holding Group Semi-Annual Data
Dec15 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 -2.86 0.00 -3.03 0.00 -3.87

HKSE:01845 vs WM, RSG, WCN: Beneish M-Score Comparison

For the Waste Management subindustry, Weigang Environmental Technology Holding 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.

Weigang Environmental Technology Holding Group Beneish M-Score vs Waste Management Industry

For the Waste Management industry and Industrials sector, Weigang Environmental Technology Holding Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Weigang Environmental Technology Holding Group's Beneish M-Score falls into.


HKSE:01845
39GF Score
Weigang Environmental Technology Holding Group Ltd HKSE:01845
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Weigang Environmental Technology Holding 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 Weigang Environmental Technology Holding 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 * 0.852+0.528 * 1.1325+0.404 * 0.4404+0.892 * 0.877+0.115 * 0.9574
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2541+4.679 * -0.191778-0.327 * 1.119
=-3.87

* 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$275.2 Mil.
Revenue was HK$226.2 Mil.
Gross Profit was HK$48.0 Mil.
Total Current Assets was HK$463.2 Mil.
Total Assets was HK$780.1 Mil.
Property, Plant and Equipment(Net PPE) was HK$298.8 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$27.6 Mil.
Selling, General, & Admin. Expense(SGA) was HK$73.7 Mil.
Total Current Liabilities was HK$293.5 Mil.
Long-Term Debt & Capital Lease Obligation was HK$46.4 Mil.
Net Income was HK$-69.8 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$79.8 Mil.
 Total Receivables was HK$368.4 Mil.
Revenue was HK$258.0 Mil.
Gross Profit was HK$62.0 Mil.
Total Current Assets was HK$495.2 Mil.
Total Assets was HK$826.0 Mil.
Property, Plant and Equipment(Net PPE) was HK$287.3 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$25.3 Mil.
Selling, General, & Admin. Expense(SGA) was HK$67.0 Mil.
Total Current Liabilities was HK$295.5 Mil.
Long-Term Debt & Capital Lease Obligation was HK$26.2 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)
=(275.241 / 226.24) / (368.351 / 257.969)
=1.216589 / 1.427889
=0.852

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)
=(61.954 / 257.969) / (47.975 / 226.24)
=0.240161 / 0.212054
=1.1325

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 - (463.194 + 298.781) / 780.078) / (1 - (495.17 + 287.328) / 826.029)
=0.023207 / 0.052699
=0.4404

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
=226.24 / 257.969
=0.877

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))
=(25.306 / (25.306 + 287.328)) / (27.595 / (27.595 + 298.781))
=0.080944 / 0.08455
=0.9574

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)
=(73.682 / 226.24) / (66.992 / 257.969)
=0.325681 / 0.25969
=1.2541

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)
=((46.383 + 293.533) / 780.078) / ((26.167 + 295.492) / 826.029)
=0.435746 / 0.389404
=1.119

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
=(-69.759 - 0 - 79.843) / 780.078
=-0.191778

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.

Weigang Environmental Technology Holding Group has a M-score of -3.87 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 -3.87 mean?
Weigang Environmental Technology Holding Group (HKSE:01845) has a Beneish M-Score of -3.87 as of Aug. 17, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Weigang Environmental Technology Holding Group and its competitors. According to the industry distribution chart, Weigang Environmental Technology Holding Group ranks #21 out of 225 companies in the Waste Management industry, placing it in the top 9.3%.
Is Weigang Environmental Technology Holding Group's Beneish M-Score too high?
Weigang Environmental Technology Holding Group's current Beneish M-Score is -3.87. Based on the distribution chart, Weigang Environmental Technology Holding Group ranks #21 out of 225 companies in the Waste Management industry, which is in the top quartile — a strong position relative to peers. Overall, Weigang Environmental Technology Holding Group has a GF Score™ of 39/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Weigang Environmental Technology Holding Group's Beneish M-Score compare to WM and RSG?
According to the Waste Management industry distribution chart, Weigang Environmental Technology Holding Group ranks #21 out of 225 companies for Beneish M-Score. This places Weigang Environmental Technology Holding Group in the top 9% 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 a Waste Management company?
A good Beneish M-Score depends on the Waste Management 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 Weigang Environmental Technology Holding Group and its competitors. Weigang Environmental Technology Holding Group's current Beneish M-Score is -3.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Weigang Environmental Technology Holding Group stock overvalued right now?
Based on GuruFocus' analysis, Weigang Environmental Technology Holding Group (HKSE:01845) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.13, compared to a current price of HK$0.18 — trading 38.5% above its estimated fair value. The current Beneish M-Score is -3.87. Weigang Environmental Technology Holding Group's overall GF Score™ is 39/100 with 5 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 Weigang Environmental Technology Holding Group (HKSE:01845), the current Beneish M-Score is -3.87 as of Aug. 17, 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 Weigang Environmental Technology Holding Group (HKSE:01845) Overvalued in 2026?

Based on GuruFocus' analysis, Weigang Environmental Technology Holding Group stock appears to be overvalued. The current stock price of HK$0.18 is trading 38.5% above its estimated GF Value™ of HK$0.13. GuruFocus considers Weigang Environmental Technology Holding Group to be Significantly Overvalued.

Key valuation signals for HKSE:01845:

  • Beneish M-Score: -3.87
  • GF Value™: HK$0.13 vs. price of HK$0.18 (38.5% above fair value)
  • GF Score™: 39/100 with 5 warning signs

No single metric tells the full story. See the HKSE:01845 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Weigang Environmental Technology Holding Group Business Description

Address No. 181 Science Boulevard, 14th-15th Floor, Block A4, Huangpu District, Guangdong Province, Guangzhou, CHN
Weigang Environmental Technology Holding Group Ltd is a comprehensive hazardous waste incineration turnkey solution provider in China focused on the research, design, integration and commissioning of solid waste treatment systems, particularly for hazardous waste incineration. Leveraging its experience and expertise in hazardous waste incineration, the Group has expanded its offerings to other areas of solid waste treatment, such as cement plant parallel kiln co-treatment and pyrolysis treatment of solid waste. Its segments are the solid waste treatment segment and the oilfield auxiliary services segment, which generates maximum revenue and is engaged in petroleum transportation, meter maintenance, oil pipe repair and water treatment. The Group generates maximum revenue from the PRC.
39GF Score

Get the complete analysis for HKSE:01845

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

HK$0.18
Price
HK$0.13
GF Value