Beijing UBOX Online Technology (HKSE:02429) Beneish M-Score: -2.59 (As of Jul. 08, 2026)


HKSE:02429 Beijing UBOX Online Technology Corp HKSE:02429
32 GF Score
Price HK$2.55
! 2 Warning Signs
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What is Beijing UBOX Online Technology Beneish M-Score?

Beijing UBOX Online Technology HKSE:02429 +2.00% 32 Beneish M-Score is -2.59 as of Jul. 08, 2026. GuruFocus rates HKSE:02429 with a GF Score™ of 32/100. The stock has 2 warning signs investors should review. Among 294 Retail - Defensive companies, Beijing UBOX Online Technology ranks better than 52.38% 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 -2.59 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Beijing UBOX Online Technology's Beneish M-Score or its related term are showing as below:

HKSE:02429' s Beneish M-Score Range Over the Past 10 Years
Min: -4.25   Med: -3.4   Max: -2.59
Current: -2.59

During the past 7 years, the highest Beneish M-Score of Beijing UBOX Online Technology was -2.59. The lowest was -4.25. And the median was -3.40.

Beijing UBOX Online Technology Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Beijing UBOX Online Technology'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.

Beijing UBOX Online Technology Beneish M-Score Chart

Beijing UBOX Online Technology Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial -3.40 -4.25 -3.85 -3.18 -2.59

Beijing UBOX Online Technology Semi-Annual Data
Dec19 Dec20 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 -3.85 0.00 -3.18 0.00 -2.59

HKSE:02429 vs KR: Beneish M-Score Comparison

For the Grocery Stores subindustry, Beijing UBOX Online Technology'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.

Beijing UBOX Online Technology Beneish M-Score vs Retail - Defensive Industry

For the Retail - Defensive industry and Consumer Defensive sector, Beijing UBOX Online Technology's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Beijing UBOX Online Technology's Beneish M-Score falls into.


HKSE:02429
32GF Score
Beijing UBOX Online Technology Corp HKSE:02429
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Beijing UBOX Online Technology 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 Beijing UBOX Online Technology 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 * 1.4625+0.528 * 0.9605+0.404 * 0.8039+0.892 * 0.9779+0.115 * 0.8894
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9954+4.679 * -0.098281-0.327 * 0.828
=-2.59

* 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$321 Mil.
Revenue was HK$3,047 Mil.
Gross Profit was HK$1,132 Mil.
Total Current Assets was HK$1,338 Mil.
Total Assets was HK$1,922 Mil.
Property, Plant and Equipment(Net PPE) was HK$231 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$121 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1,191 Mil.
Total Current Liabilities was HK$575 Mil.
Long-Term Debt & Capital Lease Obligation was HK$20 Mil.
Net Income was HK$-76 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$113 Mil.
 Total Receivables was HK$224 Mil.
Revenue was HK$3,116 Mil.
Gross Profit was HK$1,112 Mil.
Total Current Assets was HK$773 Mil.
Total Assets was HK$1,374 Mil.
Property, Plant and Equipment(Net PPE) was HK$286 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$126 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1,223 Mil.
Total Current Liabilities was HK$498 Mil.
Long-Term Debt & Capital Lease Obligation was HK$16 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)
=(320.528 / 3047.374) / (224.128 / 3116.393)
=0.105182 / 0.071919
=1.4625

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)
=(1111.732 / 3116.393) / (1131.792 / 3047.374)
=0.356737 / 0.371399
=0.9605

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 - (1337.506 + 230.733) / 1921.929) / (1 - (773.245 + 286.47) / 1374.313)
=0.184029 / 0.228913
=0.8039

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
=3047.374 / 3116.393
=0.9779

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))
=(126.413 / (126.413 + 286.47)) / (121.117 / (121.117 + 230.733))
=0.306171 / 0.344229
=0.8894

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)
=(1190.911 / 3047.374) / (1223.493 / 3116.393)
=0.390799 / 0.392599
=0.9954

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)
=((20.106 + 574.895) / 1921.929) / ((15.666 + 498.206) / 1374.313)
=0.309585 / 0.373912
=0.828

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
=(-75.887 - 0 - 113.003) / 1921.929
=-0.098281

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.

Beijing UBOX Online Technology has a M-score of -2.59 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 -2.59 mean?
Beijing UBOX Online Technology (HKSE:02429) has a Beneish M-Score of -2.59 as of Jul. 08, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Beijing UBOX Online Technology and its competitors. According to the industry distribution chart, Beijing UBOX Online Technology ranks #140 out of 294 companies in the Retail - Defensive industry, placing it in the top 47.6%.
Is Beijing UBOX Online Technology's Beneish M-Score too high?
Beijing UBOX Online Technology's current Beneish M-Score is -2.59. Based on the distribution chart, Beijing UBOX Online Technology ranks #140 out of 294 companies in the Retail - Defensive industry, which is above the industry midpoint. Overall, Beijing UBOX Online Technology has a GF Score™ of 32/100, reflecting its overall financial health beyond just this single metric.
How does Beijing UBOX Online Technology's Beneish M-Score compare to KR?
According to the Retail - Defensive industry distribution chart, Beijing UBOX Online Technology ranks #140 out of 294 companies for Beneish M-Score. This puts Beijing UBOX Online Technology 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 - Defensive company?
A good Beneish M-Score depends on the Retail - Defensive 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 Beijing UBOX Online Technology and its competitors. Beijing UBOX Online Technology's current Beneish M-Score is -2.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Beijing UBOX Online Technology stock overvalued right now?
Beijing UBOX Online Technology (HKSE:02429) has a current Beneish M-Score of -2.59. The current Beneish M-Score is -2.59. Beijing UBOX Online Technology's overall GF Score™ is 32/100 with 2 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 Beijing UBOX Online Technology (HKSE:02429), the current Beneish M-Score is -2.59 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.

Beijing UBOX Online Technology Business Description

Address West Second Shenyun Road, 4th Floor, Tower A, Tagen Knowledge & Innovation Center, Nanshan, Shenzhen, CHN
Beijing UBOX Online Technology Corp is a vending machine operator in mainland China. It has four segments: Unmanned retail business, Merchandise wholesale, Advertising and system support services, and Others. The key revenue is generated from Unmanned retail business which consists of sales of fast-moving consumer goods such as food and beverage to end customers through a network of vending machines located at the POSs developed by the Group or POSs partners. All of the businesses of the Group are carried out in the PRC.
32GF Score

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

HK$2.55
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