Maiyue Technology (HKSE:02501) Beneish M-Score : 0.00 (As of Apr. 10, 2025)

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What is Maiyue Technology Beneish M-Score?

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.

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

During the past 4 years, the highest Beneish M-Score of Maiyue Technology was 0.00. The lowest was 0.00. And the median was 0.00.

Maiyue Technology Beneish M-Score Historical Data

The historical data trend for Maiyue 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.

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Maiyue Technology Beneish M-Score Chart

Maiyue Technology Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

-2.09

0.29

Maiyue Technology Semi-Annual Data
	Dec20	Dec21	Dec22	Jun23	Dec23	Jun24
Beneish M-Score	Get a 7-Day Free Trial			-	-2.09	-	0.29	-

Competitive Comparison of Maiyue Technology's Beneish M-Score

For the Information Technology Services subindustry, Maiyue 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.

Maiyue Technology's Beneish M-Score Distribution in the Software Industry

For the Software industry and Technology sector, Maiyue Technology's Beneish M-Score distribution charts can be found below:

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

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Maiyue 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 Maiyue Technology for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.5617

0.528 * 1.3043

0.404 * 2.8689

0.892 * 1.0432

0.115 * 1.1151

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.4666

4.679 * 0.275074

0.327 * 0.7445

0.29

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was HK$516.7 Mil.
Revenue was HK$283.4 Mil.
Gross Profit was HK$93.5 Mil.
Total Current Assets was HK$572.2 Mil.
Total Assets was HK$656.4 Mil.
Property, Plant and Equipment(Net PPE) was HK$20.6 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$9.0 Mil.
Selling, General, & Admin. Expense(SGA) was HK$53.4 Mil.
Total Current Liabilities was HK$252.4 Mil.
Long-Term Debt & Capital Lease Obligation was HK$52.3 Mil.
Net Income was HK$25.0 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$-155.5 Mil.

Total Receivables was HK$317.1 Mil.
Revenue was HK$271.6 Mil.
Gross Profit was HK$116.8 Mil.
Total Current Assets was HK$502.5 Mil.
Total Assets was HK$538.5 Mil.
Property, Plant and Equipment(Net PPE) was HK$17.8 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$9.1 Mil.
Selling, General, & Admin. Expense(SGA) was HK$34.9 Mil.
Total Current Liabilities was HK$255.4 Mil.
Long-Term Debt & Capital Lease Obligation was HK$80.4 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)
	=	(516.681 / 283.382)	/	(317.146 / 271.646)
	=	1.823267	/	1.167497
	=	1.5617

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)
	=	(116.843 / 271.646)	/	(93.452 / 283.382)
	=	0.43013	/	0.329774
	=	1.3043

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 - (572.218 + 20.64) / 656.412)	/	(1 - (502.516 + 17.803) / 538.492)
	=	0.09682	/	0.033748
	=	2.8689

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
	=	283.382	/	271.646
	=	1.0432

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))
	=	(9.088 / (9.088 + 17.803))	/	(8.976 / (8.976 + 20.64))
	=	0.337957	/	0.303079
	=	1.1151

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)
	=	(53.399 / 283.382)	/	(34.903 / 271.646)
	=	0.188435	/	0.128487
	=	1.4666

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)
	=	((52.295 + 252.442) / 656.412)	/	((80.403 + 255.402) / 538.492)
	=	0.464247	/	0.623603
	=	0.7445

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
	=	(25.027 - 0	-	-155.535)	/	656.412
	=	0.275074

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.

Maiyue Technology has a M-score of 0.29 signals that the company is likely to be a manipulator.

Maiyue Technology Beneish M-Score Related Terms

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Maiyue Technology Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Maiyue Technology Ltd (HKSE:02501) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

9 Gehai Road, Room 806, 8th Floor, Office Area, Block B, East Tower, Guangxi, Guangxi Sports Centre Supporting Project Complex, Nanning, CHN

Website

http://www.maiyuesoft.com

Maiyue Technology Ltd is an integrated IT solutions services provider in the education and government IT solutions markets in Guangxi. It primarily focuses on the provision of customized integrated IT solutions services to customers in the education sector, primarily offline formal public education institutions, for the purpose of digitalized campus development. It aims to utilize technologies in its products and services to assist education institutions in opening up and connecting different departments, functions and facilities of campus in a single platform, realizing the integration and utilization of data from multiple sources, which improves the overall campus experience and effectiveness of teaching and learning.

Executives

Chan Eong Liat Jason	2201 Interest of corporation controlled by you
Deep Blue Ocean Electronics Technology Limited	2101 Beneficial owner
Deng Caidie	2201 Interest of corporation controlled by you
He Deling	2202 Interest of your spouse
Kong Xiaoyan	2202 Interest of your spouse
Li Changqing	2201 Interest of corporation controlled by you
Wang Yufei	2201 Interest of corporation controlled by you
Xu Tao	2202 Interest of your spouse
Yang Zihan	2202 Interest of your spouse
Zhang Guangbai	2201 Interest of corporation controlled by you
Canwest Profits Limited	2101 Beneficial owner
Ng Ling Ling	2202 Interest of your spouse
Koh Lik Ching	2202 Interest of your spouse
Million Oak Limited	2101 Beneficial owner
Ye Shanmin	2201 Interest of corporation controlled by you

Maiyue Technology Headlines

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