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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 -6.33 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Junwea Group (China) Co's Beneish M-Score or its related term are showing as below:
HKSE:01920'
s Beneish M-Score Range Over the Past 10 Years
Min: -6.63 Med: -3.75 Max: 11.54
Current: -6.33
During the past 10 years, the highest Beneish M-Score of Junwea Group (China) Co was 11.54. The lowest was -6.63. And the median was -3.75.
* 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:01920 vs PWR, FIX, EME: Beneish M-Score Comparison
For the Engineering & Construction subindustry, Junwea Group (China) 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.
Junwea Group (China) Co Beneish M-Score vs Construction Industry
For the Construction industry and Industrials sector, Junwea Group (China) Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Junwea Group (China) Co's Beneish M-Score falls into.
Junwea Group (China) 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 Junwea Group (China) 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 * 0.3632
+
0.528 * -1.4605
+
0.404 * 0.7009
+
0.892 * 1.1364
+
0.115 * 1.2856
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 2.5948
+
4.679 * -0.367814
-
0.327 * 1.0084
=
-6.33
* 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))
=
(1.938 / (1.938 + 2.997))
/
(4.449 / (4.449 + 10.116))
=
0.392705
/
0.305458
=
1.2856
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
=
(-10.088 - 0
-
13.01)
/
62.798
=
-0.367814
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.
Junwea Group (China) Co has a M-score of -6.33 suggests that the company is unlikely to be a manipulator.
Junwea Group (China) Co (HKSE:01920) has a Beneish M-Score of -6.33 as of Aug. 17, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Junwea Group (China) Co and its competitors. According to the industry distribution chart, Junwea Group (China) Co ranks #22 out of 1707 companies in the Construction industry, placing it in the top 1.3%.
Is Junwea Group (China) Co's Beneish M-Score too high?
Junwea Group (China) Co's current Beneish M-Score is -6.33. Based on the distribution chart, Junwea Group (China) Co ranks #22 out of 1707 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Junwea Group (China) Co has a GF Score™ of 48/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Junwea Group (China) Co's Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Junwea Group (China) Co ranks #22 out of 1707 companies for Beneish M-Score. This places Junwea Group (China) Co in the top 1% 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 Construction company?
A good Beneish M-Score depends on the Construction 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 Junwea Group (China) Co and its competitors. Junwea Group (China) Co's current Beneish M-Score is -6.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Junwea Group (China) Co stock overvalued right now?
Based on GuruFocus' analysis, Junwea Group (China) Co (HKSE:01920) is currently considered Fairly Valued. The stock's GF Value™ is HK$0.44, compared to a current price of HK$0.42 — trading 5.7% below its estimated fair value. The current Beneish M-Score is -6.33. Junwea Group (China) Co's overall GF Score™ is 48/100 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 Junwea Group (China) Co (HKSE:01920), the current Beneish M-Score is -6.33 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 Junwea Group (China) Co (HKSE:01920) Overvalued in 2026?
Based on GuruFocus' analysis, Junwea Group (China) Co stock appears to be undervalued.
The current stock price of HK$0.42 is trading 5.7% below its estimated GF Value™ of HK$0.44.
GuruFocus considers Junwea Group (China) Co to be Fairly Valued.
Key valuation signals for HKSE:01920:
Beneish M-Score: -6.33
GF Value™: HK$0.44 vs. price of HK$0.42 (5.7% below fair value)
No single metric tells the full story. See the HKSE:01920 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Junwea Group (China) Co Ltd, formerly known as China Wacan Group Co Ltd, is engaged in the (i) provision of beauty and health services ; (ii) provision of construction services including wet trades works and other wet trades related ancillary works ; and (iii) provision of construction information technology services. The company generates maximum of its revenue from Construction Services segment. The Group principally operates in Hong Kong and the PRC, which is also its place of domicile.
48GF Score
Get the complete analysis for HKSE:01920
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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