Bank Of Chongqing Co (HKSE:01963) Beneish M-Score: -2.56 (As of Sep. 17, 2026)

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HKSE:01963 Bank Of Chongqing Co Ltd HKSE:01963
67 GF Score
Price HK$8.39
GF Value HK$7.04
Valuation Modestly Overvalued
! 6 Warning Signs
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What is Bank Of Chongqing Co Beneish M-Score?

Bank Of Chongqing Co HKSE:01963 -1.41% 67 Beneish M-Score is -2.56 as of Sep. 17, 2026. GuruFocus rates HKSE:01963 with a GF Score™ of 67/100 and a GF Value™ of HK$7.04 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 1,388 Banks companies, Bank Of Chongqing Co ranks better than 76.66% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 -2.56 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Bank Of Chongqing Co's Beneish M-Score or its related term are showing as below:

HKSE:01963' s Beneish M-Score Range Over the Past 10 Years
Min: -5.35   Med: -2.49   Max: -2.08
Current: -2.56

During the past 13 years, the highest Beneish M-Score of Bank Of Chongqing Co was -2.08. The lowest was -5.35. And the median was -2.49.

HKSE:01963
67GF Score
Bank Of Chongqing Co Ltd HKSE:01963
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Bank Of Chongqing 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 Bank Of Chongqing 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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$7,408 Mil.
Revenue was HK$16,930 Mil.
Gross Profit was HK$0 Mil.
Total Current Assets was HK$179,408 Mil.
Total Assets was HK$1,151,378 Mil.
Property, Plant and Equipment(Net PPE) was HK$4,230 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$692 Mil.
Selling, General, & Admin. Expense(SGA) was HK$0 Mil.
Total Current Liabilities was HK$513,080 Mil.
Long-Term Debt & Capital Lease Obligation was HK$61,603 Mil.
Net Income was HK$5,731 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$107,364 Mil.
 Total Receivables was HK$7,372 Mil.
Revenue was HK$14,247 Mil.
Gross Profit was HK$0 Mil.
Total Current Assets was HK$145,521 Mil.
Total Assets was HK$911,649 Mil.
Property, Plant and Equipment(Net PPE) was HK$3,301 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$524 Mil.
Selling, General, & Admin. Expense(SGA) was HK$0 Mil.
Total Current Liabilities was HK$384,564 Mil.
Long-Term Debt & Capital Lease Obligation was HK$53,977 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)
=(7407.71 / 16929.971) / (7371.689 / 14246.866)
=0.43755 / 0.517425
=

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)
=(0 / 14246.866) / (0 / 16929.971)
=0 / 0
=

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 - (179408.487 + 4229.65) / 1151378.239) / (1 - (145520.616 + 3301.386) / 911648.591)
=0.840506 / 0.836755
=

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
=16929.971 / 14246.866
=

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))
=(523.73 / (523.73 + 3301.386)) / (692.322 / (692.322 + 4229.65))
=0.136919 / 0.140659
=

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)
=(0 / 16929.971) / (0 / 14246.866)
=0 / 0
=

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)
=((61603.177 + 513079.645) / 1151378.239) / ((53977.49 + 384564.357) / 911648.591)
=0.499126 / 0.481043
=

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
=(5730.542 - 0 - 107363.544) / 1151378.239
=-0.088271

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.56 mean?
Bank Of Chongqing Co (HKSE:01963) has a Beneish M-Score of -2.56 as of Sep. 17, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Bank Of Chongqing Co and its competitors. According to the industry distribution chart, Bank Of Chongqing Co ranks #324 out of 1388 companies in the Banks industry, placing it in the top 23.3%.
Is Bank Of Chongqing Co's Beneish M-Score too high?
Bank Of Chongqing Co's current Beneish M-Score is -2.56. Based on the distribution chart, Bank Of Chongqing Co ranks #324 out of 1388 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, Bank Of Chongqing Co has a GF Score™ of 67/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Bank Of Chongqing Co's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, Bank Of Chongqing Co ranks #324 out of 1388 companies for Beneish M-Score. This places Bank Of Chongqing Co in the top 23% 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 Banks company?
A good Beneish M-Score depends on the Banks 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 Bank Of Chongqing Co and its competitors. Bank Of Chongqing Co's current Beneish M-Score is -2.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bank Of Chongqing Co stock overvalued right now?
Based on GuruFocus' analysis, Bank Of Chongqing Co (HKSE:01963) is currently considered Modestly Overvalued. The stock's GF Value™ is HK$7.04, compared to a current price of HK$8.39 — trading 19.1% above its estimated fair value. The current Beneish M-Score is -2.56. Bank Of Chongqing Co's overall GF Score™ is 67/100 with 6 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 Bank Of Chongqing Co (HKSE:01963), the current Beneish M-Score is -2.56 as of Sep. 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 Bank Of Chongqing Co (HKSE:01963) Overvalued in 2026?

Based on GuruFocus' analysis, Bank Of Chongqing Co stock appears to be overvalued. The current stock price of HK$8.39 is trading 19.1% above its estimated GF Value™ of HK$7.04. GuruFocus considers Bank Of Chongqing Co to be Modestly Overvalued.

Key valuation signals for HKSE:01963:

  • Beneish M-Score: -2.56
  • GF Value™: HK$7.04 vs. price of HK$8.39 (19.1% above fair value)
  • GF Score™: 67/100 with 6 warning signs

No single metric tells the full story. See the HKSE:01963 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Bank Of Chongqing Co Business Description

Other Exchanges CQN:Germany601963:China
Address 33 Hysan Avenue, Room 1918, 19th Floor, Lee Garden One, Causeway Bay, Hong Kong, HKG
Bank Of Chongqing Co Ltd is is engaged in banking business. The company's core businesses consist of the corporate banking business, which provides corporate customers with financial products and services such as deposits and loans; the retail banking business, which provides individual customers with financial products and services; and the treasury business, which is involved in interbank lending and borrowing, bond investment, repurchasing, and foreign currency transactions. The company generates over half of total revenue from the corporate banking business. The company's business is concentrated in Chongqing, and the bank also conducts business through branches in Chengdu, Guiyang, and Xi'an.
67GF Score

Get the complete analysis for HKSE:01963

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

HK$8.39
Price
HK$7.04
GF Value