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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 -1.87 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Jiangsu Lopal Tech Group Co's Beneish M-Score or its related term are showing as below:
HKSE:02465'
s Beneish M-Score Range Over the Past 10 Years
Min: -76.86 Med: -2.17 Max: 1.61
Current: -1.87
During the past 13 years, the highest Beneish M-Score of Jiangsu Lopal Tech Group Co was 1.61. The lowest was -76.86. And the median was -2.17.
* 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.
HKSE:02465 vs MPC, VLO, PSX: Beneish M-Score Comparison
For the Specialty Chemicals subindustry, Jiangsu Lopal Tech Group 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.
Jiangsu Lopal Tech Group Co Beneish M-Score vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Jiangsu Lopal Tech Group Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Jiangsu Lopal Tech Group Co's Beneish M-Score falls into.
Jiangsu Lopal Tech Group 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 Jiangsu Lopal Tech Group 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 * 0.8375
+
0.528 * 0.62
+
0.404 * 0.8896
+
0.892 * 1.6821
+
0.115 * 1
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8435
+
4.679 * 0.090793
-
0.327 * 0.9569
=
-1.80
* 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.
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.
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))
=
(0 / (0 + 8039.82))
/
(0 / (0 + 9663.095))
=
0
/
0
=
1
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
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
=
(385.656 - 0
-
-2427.286)
/
30982.034
=
0.090793
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.
Jiangsu Lopal Tech Group Co has a M-score of -1.80 suggests that the company is unlikely to be a manipulator.
Jiangsu Lopal Tech Group Co (HKSE:02465) has a Beneish M-Score of -1.87 as of Sep. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Jiangsu Lopal Tech Group Co and its competitors. According to the industry distribution chart, Jiangsu Lopal Tech Group Co ranks #1291 out of 1549 companies in the Chemicals industry, placing it in the top 83.3%.
Is Jiangsu Lopal Tech Group Co's Beneish M-Score too high?
Jiangsu Lopal Tech Group Co's current Beneish M-Score is -1.87. Based on the distribution chart, Jiangsu Lopal Tech Group Co ranks #1291 out of 1549 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Jiangsu Lopal Tech Group Co has a GF Score™ of 57/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Jiangsu Lopal Tech Group Co's Beneish M-Score compare to MPC and VLO?
According to the Chemicals industry distribution chart, Jiangsu Lopal Tech Group Co ranks #1291 out of 1549 companies for Beneish M-Score. This places Jiangsu Lopal Tech Group 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 Chemicals company?
A good Beneish M-Score depends on the Chemicals 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 Jiangsu Lopal Tech Group Co and its competitors. Jiangsu Lopal Tech Group Co's current Beneish M-Score is -1.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Jiangsu Lopal Tech Group Co stock overvalued right now?
Based on GuruFocus' analysis, Jiangsu Lopal Tech Group Co (HKSE:02465) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$5.57, compared to a current price of HK$8.82 — trading 58.3% above its estimated fair value. The current Beneish M-Score is -1.87. Jiangsu Lopal Tech Group Co's overall GF Score™ is 57/100 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 Jiangsu Lopal Tech Group Co (HKSE:02465), the current Beneish M-Score is -1.87 as of Sep. 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.
Is Jiangsu Lopal Tech Group Co (HKSE:02465) Overvalued in 2026?
Based on GuruFocus' analysis, Jiangsu Lopal Tech Group Co stock appears to be overvalued.
The current stock price of HK$8.82 is trading 58.3% above its estimated GF Value™ of HK$5.57.
GuruFocus considers Jiangsu Lopal Tech Group Co to be Significantly Overvalued.
Key valuation signals for HKSE:02465:
Beneish M-Score: -1.87
GF Value™: HK$5.57 vs. price of HK$8.82 (58.3% above fair value)
No single metric tells the full story. See the HKSE:02465 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Jiangsu Lopal Tech Group Co Ltd and its subsidiaries are principally engaged in the production and sale of lithium iron phosphate (LFP) cathode materials and automotive specialty chemicals. Its product offerings mainly include lithium cathode materials used in new energy vehicles and energy storage products; and automotive and industrial lubricants, diesel engine exhaust treatment fluids, coolants, and a variety of automotive maintenance products, marketed under Lopal, Kelas, and Teec brands. The Group's operating segments are: Sale of LFP cathode materials, which generate maximum revenue, Processing of lithium carbonate and raw materials, Sale of automotive specialty chemicals, and Other businesses.
57GF Score
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