Lygend Resources & Technology Co (HKSE:02245) Beneish M-Score: -2.65 (As of Aug. 11, 2026)

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HKSE:02245 Lygend Resources & Technology Co Ltd HKSE:02245
88 GF Score
Price HK$14.75
GF Value HK$16.81
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is Lygend Resources & Technology Co Beneish M-Score?

Lygend Resources & Technology Co HKSE:02245 -1.01% 88 Beneish M-Score is -2.65 as of Aug. 11, 2026. GuruFocus rates HKSE:02245 with a GF Score™ of 88/100 and a GF Value™ of HK$16.81 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 677 Metals & Mining companies, Lygend Resources & Technology Co ranks better than 68.98% 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 -2.65 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Lygend Resources & Technology Co's Beneish M-Score or its related term are showing as below:

HKSE:02245' s Beneish M-Score Range Over the Past 10 Years
Min: -2.73   Med: -2.55   Max: -1.89
Current: -2.65

During the past 7 years, the highest Beneish M-Score of Lygend Resources & Technology Co was -1.89. The lowest was -2.73. And the median was -2.55.

Lygend Resources & Technology Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Lygend Resources & Technology Co'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.

Lygend Resources & Technology Co Beneish M-Score Chart

Lygend Resources & Technology Co Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial -1.89 -2.42 -2.55 -2.73 -2.65

Lygend Resources & Technology Co Semi-Annual Data
Dec19 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 -2.55 0.00 -2.73 0.00 -2.65

Lygend Resources & Technology Co Beneish M-Score Competitor Comparison

For the Other Industrial Metals & Mining subindustry, Lygend Resources & Technology 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.

Lygend Resources & Technology Co Beneish M-Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Lygend Resources & Technology Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Lygend Resources & Technology Co's Beneish M-Score falls into.


HKSE:02245
88GF Score
Lygend Resources & Technology Co Ltd HKSE:02245
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Lygend Resources & Technology 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 Lygend Resources & Technology 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 * 0.8874+0.528 * 0.955+0.404 * 0.8665+0.892 * 1.4243+0.115 * 0.8147
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8812+4.679 * -0.07474-0.327 * 1.0589
=-2.65

* 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$3,167 Mil.
Revenue was HK$44,454 Mil.
Gross Profit was HK$8,523 Mil.
Total Current Assets was HK$20,944 Mil.
Total Assets was HK$53,314 Mil.
Property, Plant and Equipment(Net PPE) was HK$28,869 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$1,589 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1,547 Mil.
Total Current Liabilities was HK$18,367 Mil.
Long-Term Debt & Capital Lease Obligation was HK$11,020 Mil.
Net Income was HK$3,157 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$7,141 Mil.
 Total Receivables was HK$2,506 Mil.
Revenue was HK$31,211 Mil.
Gross Profit was HK$5,715 Mil.
Total Current Assets was HK$13,452 Mil.
Total Assets was HK$40,526 Mil.
Property, Plant and Equipment(Net PPE) was HK$24,002 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$1,066 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1,233 Mil.
Total Current Liabilities was HK$14,732 Mil.
Long-Term Debt & Capital Lease Obligation was HK$6,363 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)
=(3167.236 / 44453.903) / (2505.933 / 31211.213)
=0.071248 / 0.08029
=0.8874

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)
=(5714.67 / 31211.213) / (8523.094 / 44453.903)
=0.183097 / 0.191729
=0.955

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 - (20943.75 + 28868.774) / 53313.648) / (1 - (13451.932 + 24002.36) / 40525.64)
=0.06567 / 0.075788
=0.8665

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
=44453.903 / 31211.213
=1.4243

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))
=(1065.66 / (1065.66 + 24002.36)) / (1589.19 / (1589.19 + 28868.774))
=0.042511 / 0.052177
=0.8147

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)
=(1547.46 / 44453.903) / (1233.004 / 31211.213)
=0.03481 / 0.039505
=0.8812

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)
=((11020.119 + 18367.051) / 53313.648) / ((6363.473 + 14732.122) / 40525.64)
=0.551213 / 0.520549
=1.0589

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
=(3156.665 - 0 - 7141.333) / 53313.648
=-0.07474

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.

Lygend Resources & Technology Co has a M-score of -2.65 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 -2.65 mean?
Lygend Resources & Technology Co (HKSE:02245) has a Beneish M-Score of -2.65 as of Aug. 11, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Lygend Resources & Technology Co and its competitors. According to the industry distribution chart, Lygend Resources & Technology Co ranks #210 out of 677 companies in the Metals & Mining industry, placing it in the top 31%.
Is Lygend Resources & Technology Co's Beneish M-Score too high?
Lygend Resources & Technology Co's current Beneish M-Score is -2.65. Based on the distribution chart, Lygend Resources & Technology Co ranks #210 out of 677 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, Lygend Resources & Technology Co has a GF Score™ of 88/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Lygend Resources & Technology Co's Beneish M-Score compare to competitors?
According to the Metals & Mining industry distribution chart, Lygend Resources & Technology Co ranks #210 out of 677 companies for Beneish M-Score. This puts Lygend Resources & Technology Co 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 Metals & Mining company?
A good Beneish M-Score depends on the Metals & Mining 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 Lygend Resources & Technology Co and its competitors. Lygend Resources & Technology Co's current Beneish M-Score is -2.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lygend Resources & Technology Co stock overvalued right now?
Based on GuruFocus' analysis, Lygend Resources & Technology Co (HKSE:02245) is currently considered Modestly Undervalued. The stock's GF Value™ is HK$16.81, compared to a current price of HK$14.75 — trading 12.3% below its estimated fair value. The current Beneish M-Score is -2.65. Lygend Resources & Technology Co's overall GF Score™ is 88/100 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 Lygend Resources & Technology Co (HKSE:02245), the current Beneish M-Score is -2.65 as of Aug. 11, 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 Lygend Resources & Technology Co (HKSE:02245) Overvalued in 2026?

Based on GuruFocus' analysis, Lygend Resources & Technology Co stock appears to be undervalued. The current stock price of HK$14.75 is trading 12.3% below its estimated GF Value™ of HK$16.81. GuruFocus considers Lygend Resources & Technology Co to be Modestly Undervalued.

Key valuation signals for HKSE:02245:

  • Beneish M-Score: -2.65
  • GF Value™: HK$16.81 vs. price of HK$14.75 (12.3% below fair value)
  • GF Score™: 88/100 with 3 warning signs

No single metric tells the full story. See the HKSE:02245 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Lygend Resources & Technology Co Business Description

Address Lane 299 Guanghua Road, 10th-11th Floor, Building C10, R&D Park, Yinzhou District, Zhejiang Province, Ningbo, CHN, 315000
Lygend Resources & Technology Co Ltd is engaged in both trading and producing nickel products. The company has a comprehensive product and service portfolio covering multiple areas across the nickel industry value chain, from upstream sourcing of nickel resources, trading and production of nickel products, to equipment manufacturing and sale. Its products are widely used in various downstream sectors, including the NEV and stainless steel industries. Geographically, the company generates a majority of its revenue from Mainland China and the rest from other regions.
88GF Score

Get the complete analysis for HKSE:02245

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

HK$14.75
Price
HK$16.81
GF Value