Cosmo Lady (China) Holdings Co (HKSE:02298) Beneish M-Score: -2.19 (As of Aug. 27, 2026)

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HKSE:02298 Cosmo Lady (China) Holdings Co Ltd HKSE:02298
52 GF Score
Price HK$0.30
GF Value HK$0.27
Valuation Modestly Overvalued
! 5 Warning Signs
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What is Cosmo Lady (China) Holdings Co Beneish M-Score?

Cosmo Lady (China) Holdings Co HKSE:02298 +1.69% 52 Beneish M-Score is -2.19 as of Aug. 27, 2026. GuruFocus rates HKSE:02298 with a GF Score™ of 52/100 and a GF Value™ of HK$0.27 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 1,000 Manufacturing - Apparel & Accessories companies, Cosmo Lady (China) Holdings Co ranks worse than 69.3% 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 -2.19 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Cosmo Lady (China) Holdings Co's Beneish M-Score or its related term are showing as below:

HKSE:02298' s Beneish M-Score Range Over the Past 10 Years
Min: -3.9   Med: -2.53   Max: -1.42
Current: -2.19

During the past 13 years, the highest Beneish M-Score of Cosmo Lady (China) Holdings Co was -1.42. The lowest was -3.90. And the median was -2.53.

Cosmo Lady (China) Holdings Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Cosmo Lady (China) Holdings 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.

Cosmo Lady (China) Holdings Co Beneish M-Score Chart

Cosmo Lady (China) Holdings Co 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 -1.65 -2.91 -2.89 -2.64 -2.19

Cosmo Lady (China) Holdings Co 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 -2.89 0.00 -2.64 0.00 -2.19

HKSE:02298 vs RL, LEVI, VFC: Beneish M-Score Comparison

For the Apparel Manufacturing subindustry, Cosmo Lady (China) Holdings 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.

Cosmo Lady (China) Holdings Co Beneish M-Score vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Cosmo Lady (China) Holdings Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Cosmo Lady (China) Holdings Co's Beneish M-Score falls into.


HKSE:02298
52GF Score
Cosmo Lady (China) Holdings Co Ltd HKSE:02298
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Cosmo Lady (China) Holdings 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 Cosmo Lady (China) Holdings 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 * 1.2612+0.528 * 0.9767+0.404 * 1.4136+0.892 * 1.0155+0.115 * 0.8221
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0487+4.679 * -0.025304-0.327 * 0.9135
=-2.19

* 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$1,285 Mil.
Revenue was HK$3,264 Mil.
Gross Profit was HK$1,527 Mil.
Total Current Assets was HK$2,658 Mil.
Total Assets was HK$3,993 Mil.
Property, Plant and Equipment(Net PPE) was HK$944 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$322 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1,369 Mil.
Total Current Liabilities was HK$1,215 Mil.
Long-Term Debt & Capital Lease Obligation was HK$438 Mil.
Net Income was HK$136 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$237 Mil.
 Total Receivables was HK$1,003 Mil.
Revenue was HK$3,214 Mil.
Gross Profit was HK$1,469 Mil.
Total Current Assets was HK$2,525 Mil.
Total Assets was HK$3,947 Mil.
Property, Plant and Equipment(Net PPE) was HK$1,149 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$304 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1,286 Mil.
Total Current Liabilities was HK$1,565 Mil.
Long-Term Debt & Capital Lease Obligation was HK$224 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)
=(1284.517 / 3263.523) / (1002.999 / 3213.832)
=0.393598 / 0.312088
=1.2612

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)
=(1468.761 / 3213.832) / (1527.111 / 3263.523)
=0.457012 / 0.467933
=0.9767

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 - (2657.828 + 944.466) / 3992.917) / (1 - (2524.736 + 1149.084) / 3946.979)
=0.097829 / 0.069207
=1.4136

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
=3263.523 / 3213.832
=1.0155

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))
=(303.69 / (303.69 + 1149.084)) / (322.038 / (322.038 + 944.466))
=0.209041 / 0.254273
=0.8221

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)
=(1369.322 / 3263.523) / (1285.806 / 3213.832)
=0.419584 / 0.400085
=1.0487

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)
=((438.314 + 1214.788) / 3992.917) / ((224.274 + 1564.552) / 3946.979)
=0.414009 / 0.453214
=0.9135

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
=(136.334 - 0 - 237.371) / 3992.917
=-0.025304

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.

Cosmo Lady (China) Holdings Co has a M-score of -2.19 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 -2.19 mean?
Cosmo Lady (China) Holdings Co (HKSE:02298) has a Beneish M-Score of -2.19 as of Aug. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cosmo Lady (China) Holdings Co and its competitors. According to the industry distribution chart, Cosmo Lady (China) Holdings Co ranks #693 out of 1000 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 69.3%.
Is Cosmo Lady (China) Holdings Co's Beneish M-Score too high?
Cosmo Lady (China) Holdings Co's current Beneish M-Score is -2.19. Based on the distribution chart, Cosmo Lady (China) Holdings Co ranks #693 out of 1000 companies in the Manufacturing - Apparel & Accessories industry, which is below the industry midpoint. Overall, Cosmo Lady (China) Holdings Co has a GF Score™ of 52/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cosmo Lady (China) Holdings Co's Beneish M-Score compare to RL and LEVI?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Cosmo Lady (China) Holdings Co ranks #693 out of 1000 companies for Beneish M-Score. This places Cosmo Lady (China) Holdings Co 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 Manufacturing - Apparel & Accessories company?
A good Beneish M-Score depends on the Manufacturing - Apparel & Accessories 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 Cosmo Lady (China) Holdings Co and its competitors. Cosmo Lady (China) Holdings Co's current Beneish M-Score is -2.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cosmo Lady (China) Holdings Co stock overvalued right now?
Based on GuruFocus' analysis, Cosmo Lady (China) Holdings Co (HKSE:02298) is currently considered Modestly Overvalued. The stock's GF Value™ is HK$0.27, compared to a current price of HK$0.30 — trading 11.1% above its estimated fair value. The current Beneish M-Score is -2.19. Cosmo Lady (China) Holdings Co's overall GF Score™ is 52/100 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 Cosmo Lady (China) Holdings Co (HKSE:02298), the current Beneish M-Score is -2.19 as of Aug. 27, 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 Cosmo Lady (China) Holdings Co (HKSE:02298) Overvalued in 2026?

Based on GuruFocus' analysis, Cosmo Lady (China) Holdings Co stock appears to be overvalued. The current stock price of HK$0.30 is trading 11.1% above its estimated GF Value™ of HK$0.27. GuruFocus considers Cosmo Lady (China) Holdings Co to be Modestly Overvalued.

Key valuation signals for HKSE:02298:

  • Beneish M-Score: -2.19
  • GF Value™: HK$0.27 vs. price of HK$0.30 (11.1% above fair value)
  • GF Score™: 52/100 with 5 warning signs

No single metric tells the full story. See the HKSE:02298 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Cosmo Lady (China) Holdings Co Business Description

Address Fenggang Tianan Digital City, Building N1, Fenggang Town, Guangdong, Dongguan, CHN
Cosmo Lady (China) Holdings Co Ltd is engaged in the design, research, development, and sale of its own branded intimate wear products (namely, bras, underpants, sleepwear and loungewear, thermal clothes, and others, which include leggings and tights, vests, hosiery, and accessories), development of industrial projects and provision of logistic services in the People's Republic of China. Its segments include the Intimate wear products segment engaged in designing, marketing, and selling of intimate wear products; and the Industrial projects and logistic segment engaged in development of industrial projects and provision of logistics services. It derives the majority of its revenue from the Intimate wear products segment.
52GF Score

Get the complete analysis for HKSE:02298

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

HK$0.30
Price
HK$0.27
GF Value