EDA Group Holdings (HKSE:02505) Beneish M-Score : -2.98 (As of Apr. 16, 2025)

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What is EDA Group Holdings 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.

Good Sign:

Beneish M-Score -2.98 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:02505' s Beneish M-Score Range Over the Past 10 Years
Min: -2.98 Med: -2.98 Max: -2.98
Current: -2.98

During the past 4 years, the highest Beneish M-Score of EDA Group Holdings was -2.98. The lowest was -2.98. And the median was -2.98.

EDA Group Holdings Beneish M-Score Historical Data

The historical data trend for EDA Group Holdings'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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EDA Group Holdings Beneish M-Score Chart

EDA Group Holdings Annual Data

Trend

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

-2.98

EDA Group Holdings Semi-Annual Data
	Dec21	Dec22	Jun23	Dec23	Jun24	Dec24
Beneish M-Score	Get a 7-Day Free Trial			-	-	-2.98	-	-

Competitive Comparison of EDA Group Holdings's Beneish M-Score

For the Integrated Freight & Logistics subindustry, EDA Group Holdings'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.

EDA Group Holdings's Beneish M-Score Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, EDA Group Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where EDA Group Holdings's Beneish M-Score falls into.

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EDA Group Holdings 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 EDA Group Holdings 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 * 0.8403

0.528 * 0.922

0.404 * 0.7328

0.892 * 1.6714

0.115 * 0.8109

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 4.3142

4.679 * -0.053587

0.327 * 0.8933

-2.98

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was HK$159 Mil.
Revenue was HK$1,323 Mil.
Gross Profit was HK$216 Mil.
Total Current Assets was HK$462 Mil.
Total Assets was HK$743 Mil.
Property, Plant and Equipment(Net PPE) was HK$124 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$49 Mil.
Selling, General, & Admin. Expense(SGA) was HK$38 Mil.
Total Current Liabilities was HK$280 Mil.
Long-Term Debt & Capital Lease Obligation was HK$98 Mil.
Net Income was HK$76 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$116 Mil.

Total Receivables was HK$113 Mil.
Revenue was HK$791 Mil.
Gross Profit was HK$119 Mil.
Total Current Assets was HK$285 Mil.
Total Assets was HK$630 Mil.
Property, Plant and Equipment(Net PPE) was HK$164 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$49 Mil.
Selling, General, & Admin. Expense(SGA) was HK$5 Mil.
Total Current Liabilities was HK$223 Mil.
Long-Term Debt & Capital Lease Obligation was HK$137 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)
	=	(158.757 / 1322.711)	/	(113.041 / 791.377)
	=	0.120024	/	0.142841
	=	0.8403

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)
	=	(118.923 / 791.377)	/	(215.588 / 1322.711)
	=	0.150274	/	0.162989
	=	0.922

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 - (462.426 + 123.734) / 742.675)	/	(1 - (284.982 + 164.047) / 630.285)
	=	0.210745	/	0.287578
	=	0.7328

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
	=	1322.711	/	791.377
	=	1.6714

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))
	=	(49.101 / (49.101 + 164.047))	/	(49.101 / (49.101 + 123.734))
	=	0.230361	/	0.284092
	=	0.8109

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)
	=	(37.782 / 1322.711)	/	(5.24 / 791.377)
	=	0.028564	/	0.006621
	=	4.3142

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)
	=	((98.192 + 280.43) / 742.675)	/	((136.949 + 222.768) / 630.285)
	=	0.509808	/	0.570721
	=	0.8933

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
	=	(75.912 - 0	-	115.71)	/	742.675
	=	-0.053587

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.

EDA Group Holdings has a M-score of -2.98 suggests that the company is unlikely to be a manipulator.

EDA Group Holdings Beneish M-Score Related Terms

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EDA Group Holdings Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » EDA Group Holdings Ltd (HKSE:02505) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Xin’an Street, 21/F, Block A, Xingdong Community, Daoxing Science and Technology Innovation Centre, Bao’an District, Shenzhen, CHN

Website

https://www.edayun.com

EDA Group Holdings Ltd is a one-stop end-to-end supply chain solutions provider for e-commerce vendors, empowering the fast-growing B2C export e-commerce industry in the PRC. It offers supply chain solutions that encompass cross-border logistics, overseas warehousing and fulfillment delivery services that are integrated into EDA Cloud, its self-developed cloud platform which houses a comprehensive range of digital supply management tools.

Executives

Sovereign Fiduciaries (hong Kong) Limited	2301 Trustee
Ubs Trustees (b.v.i.) Limited	2301 Trustee
Ls Didi Network Technology Limited	2101 Beneficial owner
Skyline Investment International Limited	2201 Interest of corporation controlled by you
Edaurora Holdings Limited	2305 Beneficiary of a trust
Eda Shine International Limited	2101 Beneficial owner
Liu Yong	2501 Other
Zuo Manlun	2501 Other
Xi Xi Development Limited	2201 Interest of corporation controlled by you
Wong Luen Hei	2307 Founder of a discretionary trust who can infl
Tang Jia Jia	2501 Other
Samanea China Holdings Limited	2501 Other
Qian Yu Cheng	2501 Other
New Fortune Star Limited	2201 Interest of corporation controlled by you
Luo Jianfeng	2501 Other

EDA Group Holdings Headlines

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