Rainmed Medical (HKSE:02297) Beneish M-Score: -0.91 (As of Jul. 08, 2026)


HKSE:02297 Rainmed Medical Ltd HKSE:02297
49 GF Score
Price HK$0.22
GF Value HK$0.08
Valuation Significantly Overvalued
! 9 Warning Signs
View Full Analysis

What is Rainmed Medical Beneish M-Score?

Rainmed Medical HKSE:02297 49 Beneish M-Score is -0.91 as of Jul. 08, 2026. GuruFocus rates HKSE:02297 with a GF Score™ of 49/100 and a GF Value™ of HK$0.08 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 764 Medical Devices & Instruments companies, Rainmed Medical ranks worse than 90.71% 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.

Warning Sign:

Beneish M-Score -0.91 higher than -1.78, which implies that the company might have manipulated its financial results.

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

HKSE:02297' s Beneish M-Score Range Over the Past 10 Years
Min: -3.52   Med: -1.27   Max: 12.25
Current: -0.91

During the past 6 years, the highest Beneish M-Score of Rainmed Medical was 12.25. The lowest was -3.52. And the median was -1.27.

Rainmed Medical Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Rainmed Medical'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.

Rainmed Medical Beneish M-Score Chart

Rainmed Medical Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 12.25 -1.63 -3.52 -0.91

Rainmed Medical Semi-Annual Data
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 -1.63 0.00 -3.52 0.00 -0.91

HKSE:02297 vs ABT, SYK, MDT: Beneish M-Score Comparison

For the Medical Devices subindustry, Rainmed Medical'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.

Rainmed Medical Beneish M-Score vs Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Rainmed Medical's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Rainmed Medical's Beneish M-Score falls into.


HKSE:02297
49GF Score
Rainmed Medical Ltd HKSE:02297
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Rainmed Medical 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 Rainmed Medical 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 * 3.8368+0.528 * 1.2714+0.404 * 0.6419+0.892 * 0.4982+0.115 * 1.9282
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2684+4.679 * 0.001882-0.327 * 3.0049
=-0.91

* 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$7.57 Mil.
Revenue was HK$21.18 Mil.
Gross Profit was HK$9.99 Mil.
Total Current Assets was HK$228.81 Mil.
Total Assets was HK$602.63 Mil.
Property, Plant and Equipment(Net PPE) was HK$311.18 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$22.59 Mil.
Selling, General, & Admin. Expense(SGA) was HK$43.07 Mil.
Total Current Liabilities was HK$202.42 Mil.
Long-Term Debt & Capital Lease Obligation was HK$4.51 Mil.
Net Income was HK$-85.16 Mil.
Gross Profit was HK$0.00 Mil.
Cash Flow from Operations was HK$-86.29 Mil.
 Total Receivables was HK$3.96 Mil.
Revenue was HK$42.52 Mil.
Gross Profit was HK$25.48 Mil.
Total Current Assets was HK$254.01 Mil.
Total Assets was HK$494.40 Mil.
Property, Plant and Equipment(Net PPE) was HK$160.33 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$24.06 Mil.
Selling, General, & Admin. Expense(SGA) was HK$68.16 Mil.
Total Current Liabilities was HK$51.61 Mil.
Long-Term Debt & Capital Lease Obligation was HK$4.89 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)
=(7.566 / 21.184) / (3.958 / 42.519)
=0.357156 / 0.093088
=3.8368

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)
=(25.482 / 42.519) / (9.986 / 21.184)
=0.599309 / 0.471394
=1.2714

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 - (228.812 + 311.177) / 602.628) / (1 - (254.012 + 160.327) / 494.396)
=0.103943 / 0.161929
=0.6419

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
=21.184 / 42.519
=0.4982

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))
=(24.06 / (24.06 + 160.327)) / (22.586 / (22.586 + 311.177))
=0.130486 / 0.067671
=1.9282

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)
=(43.072 / 21.184) / (68.155 / 42.519)
=2.033233 / 1.60293
=1.2684

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)
=((4.512 + 202.424) / 602.628) / ((4.888 + 51.609) / 494.396)
=0.343389 / 0.114275
=3.0049

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
=(-85.156 - 0 - -86.29) / 602.628
=0.001882

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.

Rainmed Medical has a M-score of -0.91 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 -0.91 mean?
Rainmed Medical (HKSE:02297) has a Beneish M-Score of -0.91 as of Jul. 08, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Rainmed Medical and its competitors. According to the industry distribution chart, Rainmed Medical ranks #693 out of 764 companies in the Medical Devices & Instruments industry, placing it in the top 90.7%.
Is Rainmed Medical's Beneish M-Score too high?
Rainmed Medical's current Beneish M-Score is -0.91. Based on the distribution chart, Rainmed Medical ranks #693 out of 764 companies in the Medical Devices & Instruments industry, which is in the bottom quartile relative to peers. Overall, Rainmed Medical has a GF Score™ of 49/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Rainmed Medical's Beneish M-Score compare to ABT and SYK?
According to the Medical Devices & Instruments industry distribution chart, Rainmed Medical ranks #693 out of 764 companies for Beneish M-Score. This places Rainmed Medical in the lower 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 Medical Devices & Instruments company?
A good Beneish M-Score depends on the Medical Devices & Instruments 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 Rainmed Medical and its competitors. Rainmed Medical's current Beneish M-Score is -0.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Rainmed Medical stock overvalued right now?
Based on GuruFocus' analysis, Rainmed Medical (HKSE:02297) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.08, compared to a current price of HK$0.22 — trading 175% above its estimated fair value. The current Beneish M-Score is -0.91. Rainmed Medical's overall GF Score™ is 49/100 with 9 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 Rainmed Medical (HKSE:02297), the current Beneish M-Score is -0.91 as of Jul. 08, 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 Rainmed Medical (HKSE:02297) Overvalued in 2026?

Based on GuruFocus' analysis, Rainmed Medical stock appears to be overvalued. The current stock price of HK$0.22 is trading 175% above its estimated GF Value™ of HK$0.08. GuruFocus considers Rainmed Medical to be Significantly Overvalued.

Key valuation signals for HKSE:02297:

  • Beneish M-Score: -0.91
  • GF Value™: HK$0.08 vs. price of HK$0.22 (175% above fair value)
  • GF Score™: 49/100 with 9 warning signs

No single metric tells the full story. See the HKSE:02297 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Rainmed Medical Business Description

Address No. 99, Jinji Lake Avenue, Room NW-05-502, Building 31, Nanopolis Suzhou, Suzhou Industrial Park, Jiangsu Province, Suzhou, CHN, 215000
Rainmed Medical Ltd is focused on the design, development, and commercialization of coronary angiography-derived fractional flow reserve systems and coronary angiography-derived index of microcirculatory resistance systems. The company's core products, the caFFR system and the caIMR system, are medical devices used to evaluate the severity of myocardial ischemia arising from coronary artery stenosis and microvascular dysfunction, which are the underlying causes of coronary artery diseases (CAD). It operates in China and Other countries.
49GF Score

Get the complete analysis for HKSE:02297

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

HK$0.22
Price
HK$0.08
GF Value