Autostreets Development (HKSE:02443) Beneish M-Score: 0.35 (As of Jul. 13, 2026)


HKSE:02443 Autostreets Development Ltd HKSE:02443
20 GF Score
Price HK$1.58
! 4 Warning Signs
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What is Autostreets Development Beneish M-Score?

Autostreets Development HKSE:02443 -0.63% 20 Beneish M-Score is 0.35 as of Jul. 13, 2026. GuruFocus rates HKSE:02443 with a GF Score™ of 20/100. The stock has 4 warning signs investors should review. Among 1,275 Vehicles & Parts companies, Autostreets Development ranks worse than 97.73% 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 0.35 higher than -1.78, which implies that the company might have manipulated its financial results.

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

HKSE:02443' s Beneish M-Score Range Over the Past 10 Years
Min: -4.24   Med: -3.01   Max: 0.35
Current: 0.35

During the past 5 years, the highest Beneish M-Score of Autostreets Development was 0.35. The lowest was -4.24. And the median was -3.01.

Autostreets Development Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Autostreets Development'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.

Autostreets Development Beneish M-Score Chart

Autostreets Development Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -4.24 -3.01 0.35

Autostreets Development Semi-Annual Data
Dec21 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial -4.24 0.00 -3.01 0.00 0.35

HKSE:02443 vs CVNA, PAG, ALTB: Beneish M-Score Comparison

For the Auto & Truck Dealerships subindustry, Autostreets Development'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.

Autostreets Development Beneish M-Score vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Autostreets Development's Beneish M-Score distribution charts can be found below:

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


HKSE:02443
20GF Score
Autostreets Development Ltd HKSE:02443
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Autostreets Development 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 Autostreets Development 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 * 4.4896+0.528 * 0.9972+0.404 * 0.9692+0.892 * 0.6865+0.115 * 0.9181
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9987+4.679 * -0.023657-0.327 * 0.9063
=0.35

* 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$356.2 Mil.
Revenue was HK$299.5 Mil.
Gross Profit was HK$187.5 Mil.
Total Current Assets was HK$1,277.1 Mil.
Total Assets was HK$1,359.3 Mil.
Property, Plant and Equipment(Net PPE) was HK$64.0 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$28.7 Mil.
Selling, General, & Admin. Expense(SGA) was HK$148.8 Mil.
Total Current Liabilities was HK$261.0 Mil.
Long-Term Debt & Capital Lease Obligation was HK$47.1 Mil.
Net Income was HK$9.1 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$41.3 Mil.
 Total Receivables was HK$115.6 Mil.
Revenue was HK$436.2 Mil.
Gross Profit was HK$272.4 Mil.
Total Current Assets was HK$1,236.5 Mil.
Total Assets was HK$1,334.8 Mil.
Property, Plant and Equipment(Net PPE) was HK$79.9 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$31.7 Mil.
Selling, General, & Admin. Expense(SGA) was HK$217.0 Mil.
Total Current Liabilities was HK$280.0 Mil.
Long-Term Debt & Capital Lease Obligation was HK$53.8 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)
=(356.235 / 299.463) / (115.589 / 436.241)
=1.189579 / 0.264966
=4.4896

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)
=(272.393 / 436.241) / (187.504 / 299.463)
=0.624409 / 0.626134
=0.9972

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 - (1277.116 + 63.985) / 1359.255) / (1 - (1236.537 + 79.911) / 1334.842)
=0.013356 / 0.01378
=0.9692

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
=299.463 / 436.241
=0.6865

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))
=(31.747 / (31.747 + 79.911)) / (28.703 / (28.703 + 63.985))
=0.284324 / 0.309673
=0.9181

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)
=(148.792 / 299.463) / (217.027 / 436.241)
=0.496863 / 0.497493
=0.9987

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)
=((47.058 + 261.049) / 1359.255) / ((53.835 + 280.034) / 1334.842)
=0.226673 / 0.250119
=0.9063

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
=(9.132 - 0 - 41.288) / 1359.255
=-0.023657

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.

Autostreets Development has a M-score of 0.35 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 0.35 mean?
Autostreets Development (HKSE:02443) has a Beneish M-Score of 0.35 as of Jul. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Autostreets Development and its competitors. According to the industry distribution chart, Autostreets Development ranks #1246 out of 1275 companies in the Vehicles & Parts industry, placing it in the top 97.7%.
Is Autostreets Development's Beneish M-Score too high?
Autostreets Development's current Beneish M-Score is 0.35. Based on the distribution chart, Autostreets Development ranks #1246 out of 1275 companies in the Vehicles & Parts industry, which is in the bottom quartile relative to peers. Overall, Autostreets Development has a GF Score™ of 20/100, reflecting its overall financial health beyond just this single metric.
How does Autostreets Development's Beneish M-Score compare to CVNA and PAG?
According to the Vehicles & Parts industry distribution chart, Autostreets Development ranks #1246 out of 1275 companies for Beneish M-Score. This places Autostreets Development 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 Vehicles & Parts company?
A good Beneish M-Score depends on the Vehicles & Parts 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 Autostreets Development and its competitors. Autostreets Development's current Beneish M-Score is 0.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Autostreets Development stock overvalued right now?
Autostreets Development (HKSE:02443) has a current Beneish M-Score of 0.35. The current Beneish M-Score is 0.35. Autostreets Development's overall GF Score™ is 20/100 with 4 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 Autostreets Development (HKSE:02443), the current Beneish M-Score is 0.35 as of Jul. 13, 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.

Autostreets Development Business Description

Address Zhenbei Road, No. 2251, 6th Floor, Kailong Center, Putuo District, Shanghai, CHN
Autostreets Development Ltd is engaged in used vehicle transaction service provider. The company connects used vehicle buyers and sellers through its transaction platform in two auction formats, namely online-offline integrated auction and online auction. The company generates all of its revenues from PRC China.
20GF Score

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

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