Lifestyle China Group (HKSE:02136) Beneish M-Score: -2.94 (As of Jul. 23, 2026)

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HKSE:02136 Lifestyle China Group Ltd HKSE:02136
50 GF Score
Price HK$0.60
GF Value HK$0.73
Valuation Modestly Undervalued
! 5 Warning Signs
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What is Lifestyle China Group Beneish M-Score?

Lifestyle China Group HKSE:02136 50 Beneish M-Score is -2.94 as of Jul. 23, 2026. GuruFocus rates HKSE:02136 with a GF Score™ of 50/100 and a GF Value™ of HK$0.73 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 1,085 Retail - Cyclical companies, Lifestyle China Group ranks better than 74.65% 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 -2.94 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Lifestyle China Group's Beneish M-Score or its related term are showing as below:

HKSE:02136' s Beneish M-Score Range Over the Past 10 Years
Min: -2.98   Med: -2.65   Max: -1.37
Current: -2.94

During the past 13 years, the highest Beneish M-Score of Lifestyle China Group was -1.37. The lowest was -2.98. And the median was -2.65.

Lifestyle China Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Lifestyle China 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.

Lifestyle China Group Beneish M-Score Chart

Lifestyle China 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 -2.26 -2.03 -2.78 -2.98 -2.94

Lifestyle China 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 -2.78 0.00 -2.98 0.00 -2.94

HKSE:02136 vs DDS: Beneish M-Score Comparison

For the Department Stores subindustry, Lifestyle China 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.

Lifestyle China Group Beneish M-Score vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Lifestyle China Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Lifestyle China Group's Beneish M-Score falls into.


HKSE:02136
50GF Score
Lifestyle China Group Ltd HKSE:02136
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Lifestyle China 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 Lifestyle China 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 * 0.5895+0.528 * 1.0436+0.404 * 1.0047+0.892 * 1+0.115 * 0.9459
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0114+4.679 * -0.022751-0.327 * 0.976
=-2.94

* 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$111 Mil.
Revenue was HK$1,337 Mil.
Gross Profit was HK$718 Mil.
Total Current Assets was HK$3,301 Mil.
Total Assets was HK$18,602 Mil.
Property, Plant and Equipment(Net PPE) was HK$8,769 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$451 Mil.
Selling, General, & Admin. Expense(SGA) was HK$900 Mil.
Total Current Liabilities was HK$1,212 Mil.
Long-Term Debt & Capital Lease Obligation was HK$5,036 Mil.
Net Income was HK$-34 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$389 Mil.
 Total Receivables was HK$187 Mil.
Revenue was HK$1,337 Mil.
Gross Profit was HK$750 Mil.
Total Current Assets was HK$2,929 Mil.
Total Assets was HK$18,144 Mil.
Property, Plant and Equipment(Net PPE) was HK$8,873 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$430 Mil.
Selling, General, & Admin. Expense(SGA) was HK$890 Mil.
Total Current Liabilities was HK$1,234 Mil.
Long-Term Debt & Capital Lease Obligation was HK$5,010 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)
=(110.527 / 1337.413) / (187.478 / 1337.379)
=0.082642 / 0.140183
=0.5895

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)
=(749.528 / 1337.379) / (718.251 / 1337.413)
=0.560445 / 0.537045
=1.0436

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 - (3300.519 + 8768.902) / 18601.547) / (1 - (2929.116 + 8873.295) / 18143.95)
=0.35116 / 0.349513
=1.0047

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
=1337.413 / 1337.379
=1

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))
=(430.141 / (430.141 + 8873.295)) / (450.655 / (450.655 + 8768.902))
=0.046235 / 0.04888
=0.9459

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)
=(899.889 / 1337.413) / (889.71 / 1337.379)
=0.672858 / 0.665264
=1.0114

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)
=((5035.804 + 1212.245) / 18601.547) / ((5010.138 + 1233.994) / 18143.95)
=0.335889 / 0.344144
=0.976

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
=(-34.391 - 0 - 388.816) / 18601.547
=-0.022751

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.

Lifestyle China Group has a M-score of -2.94 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 -2.94 mean?
Lifestyle China Group (HKSE:02136) has a Beneish M-Score of -2.94 as of Jul. 23, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Lifestyle China Group and its competitors. According to the industry distribution chart, Lifestyle China Group ranks #275 out of 1085 companies in the Retail - Cyclical industry, placing it in the top 25.3%.
Is Lifestyle China Group's Beneish M-Score too high?
Lifestyle China Group's current Beneish M-Score is -2.94. Based on the distribution chart, Lifestyle China Group ranks #275 out of 1085 companies in the Retail - Cyclical industry, which is above the industry midpoint. Overall, Lifestyle China Group has a GF Score™ of 50/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Lifestyle China Group's Beneish M-Score compare to DDS?
According to the Retail - Cyclical industry distribution chart, Lifestyle China Group ranks #275 out of 1085 companies for Beneish M-Score. This puts Lifestyle China Group 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 Retail - Cyclical company?
A good Beneish M-Score depends on the Retail - Cyclical 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 Lifestyle China Group and its competitors. Lifestyle China Group's current Beneish M-Score is -2.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lifestyle China Group stock overvalued right now?
Based on GuruFocus' analysis, Lifestyle China Group (HKSE:02136) is currently considered Modestly Undervalued. The stock's GF Value™ is HK$0.73, compared to a current price of HK$0.60 — trading 17.8% below its estimated fair value. The current Beneish M-Score is -2.94. Lifestyle China Group's overall GF Score™ is 50/100 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 Lifestyle China Group (HKSE:02136), the current Beneish M-Score is -2.94 as of Jul. 23, 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 Lifestyle China Group (HKSE:02136) Overvalued in 2026?

Based on GuruFocus' analysis, Lifestyle China Group stock appears to be undervalued. The current stock price of HK$0.60 is trading 17.8% below its estimated GF Value™ of HK$0.73. GuruFocus considers Lifestyle China Group to be Modestly Undervalued.

Key valuation signals for HKSE:02136:

  • Beneish M-Score: -2.94
  • GF Value™: HK$0.73 vs. price of HK$0.60 (17.8% below fair value)
  • GF Score™: 50/100 with 5 warning signs

No single metric tells the full story. See the HKSE:02136 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Lifestyle China Group Business Description

Address 555 Hennessy Road, 20th Floor, East Point Centre, Causeway Bay, Hong Kong, HKG
Lifestyle China Group Ltd is an investment holding company. It is engaged in the operation of department stores and related retailing business as well as property investment in the PRC. Geographically, the company derives all of its revenues from China.
50GF Score

Get the complete analysis for HKSE:02136

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

HK$0.60
Price
HK$0.73
GF Value