Qyuns Therapeutics Co (HKSE:02509) Beneish M-Score: 0.82 (As of Aug. 16, 2026) — Near Median

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HKSE:02509 Qyuns Therapeutics Co Ltd HKSE:02509
9 GF Score
Price HK$17.64
! 5 Warning Signs
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What is Qyuns Therapeutics Co Beneish M-Score?

Qyuns Therapeutics Co HKSE:02509 -1.84% 9 Beneish M-Score is 0.82 as of Aug. 16, 2026, which is at its 10-year median of 0.82. GuruFocus rates HKSE:02509 with a GF Score™ of 9/100. The stock has 5 warning signs investors should review. Among 821 Biotechnology companies, Qyuns Therapeutics Co ranks worse than 84.77% 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 0.82 higher than -1.78, which implies that the company might have manipulated its financial results.

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

HKSE:02509' s Beneish M-Score Range Over the Past 10 Years
Min: 0.82   Med: 0.82   Max: 0.82
Current: 0.82

During the past 5 years, the highest Beneish M-Score of Qyuns Therapeutics Co was 0.82. The lowest was 0.82. And the median was 0.82.

Qyuns Therapeutics Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Qyuns Therapeutics Co'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.

Qyuns Therapeutics Co Beneish M-Score Chart

Qyuns Therapeutics Co Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00 0.00 0.82

Qyuns Therapeutics Co Semi-Annual Data
Dec21 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 0.00 0.00 0.82

HKSE:02509 vs VRTX, REGN, RVMD: Beneish M-Score Comparison

For the Biotechnology subindustry, Qyuns Therapeutics 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.

Qyuns Therapeutics Co Beneish M-Score vs Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Qyuns Therapeutics Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Qyuns Therapeutics Co's Beneish M-Score falls into.


HKSE:02509
9GF Score
Qyuns Therapeutics Co Ltd HKSE:02509
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Qyuns Therapeutics 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 Qyuns Therapeutics 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 * 0.1455+0.528 * 0.6558+0.404 * 2.2507+0.892 * 5.2582+0.115 * 0.9465
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.2196+4.679 * -0.053363-0.327 * 0.7457
=0.82

* 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$22.0 Mil.
Revenue was HK$891.5 Mil.
Gross Profit was HK$789.2 Mil.
Total Current Assets was HK$1,233.6 Mil.
Total Assets was HK$1,767.9 Mil.
Property, Plant and Equipment(Net PPE) was HK$321.1 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$35.5 Mil.
Selling, General, & Admin. Expense(SGA) was HK$144.1 Mil.
Total Current Liabilities was HK$556.5 Mil.
Long-Term Debt & Capital Lease Obligation was HK$442.8 Mil.
Net Income was HK$347.4 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$441.7 Mil.
 Total Receivables was HK$28.7 Mil.
Revenue was HK$169.5 Mil.
Gross Profit was HK$98.4 Mil.
Total Current Assets was HK$658.5 Mil.
Total Assets was HK$1,050.5 Mil.
Property, Plant and Equipment(Net PPE) was HK$335.7 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$34.9 Mil.
Selling, General, & Admin. Expense(SGA) was HK$124.8 Mil.
Total Current Liabilities was HK$459.3 Mil.
Long-Term Debt & Capital Lease Obligation was HK$336.9 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)
=(21.954 / 891.47) / (28.699 / 169.539)
=0.024627 / 0.169277
=0.1455

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)
=(98.432 / 169.539) / (789.229 / 891.47)
=0.580586 / 0.885312
=0.6558

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 - (1233.611 + 321.076) / 1767.92) / (1 - (658.46 + 335.706) / 1050.458)
=0.120612 / 0.053588
=2.2507

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
=891.47 / 169.539
=5.2582

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))
=(34.882 / (34.882 + 335.706)) / (35.456 / (35.456 + 321.076))
=0.094126 / 0.099447
=0.9465

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)
=(144.057 / 891.47) / (124.759 / 169.539)
=0.161595 / 0.735872
=0.2196

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)
=((442.757 + 556.498) / 1767.92) / ((336.949 + 459.271) / 1050.458)
=0.565215 / 0.757974
=0.7457

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
=(347.381 - 0 - 441.722) / 1767.92
=-0.053363

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.

Qyuns Therapeutics Co has a M-score of 0.82 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 0.82 mean?
Qyuns Therapeutics Co (HKSE:02509) has a Beneish M-Score of 0.82 as of Aug. 16, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Qyuns Therapeutics Co and its competitors. This is near median its historical median of 0.82. Over the past decade, Qyuns Therapeutics Co's Beneish M-Score has ranged from 0.82 to 0.82. According to the industry distribution chart, Qyuns Therapeutics Co ranks #696 out of 821 companies in the Biotechnology industry, placing it in the top 84.8%.
Is Qyuns Therapeutics Co's Beneish M-Score too high?
Qyuns Therapeutics Co's current Beneish M-Score of 0.82 is near median its 10-year median of 0.82. Over the past 10 years, this metric has ranged from a low of 0.82 to a high of 0.82. Based on the distribution chart, Qyuns Therapeutics Co ranks #696 out of 821 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, Qyuns Therapeutics Co has a GF Score™ of 9/100, reflecting its overall financial health beyond just this single metric.
How does Qyuns Therapeutics Co's Beneish M-Score compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Qyuns Therapeutics Co ranks #696 out of 821 companies for Beneish M-Score. This places Qyuns Therapeutics Co in the lower half of its industry. Historically, Qyuns Therapeutics Co's own Beneish M-Score has ranged from 0.82 to 0.82 over the past decade. 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 Biotechnology company?
A good Beneish M-Score depends on the Biotechnology 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 Qyuns Therapeutics Co and its competitors. Qyuns Therapeutics Co's current Beneish M-Score is 0.82, which is near median its own 10-year median of 0.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Qyuns Therapeutics Co stock overvalued right now?
Qyuns Therapeutics Co (HKSE:02509) has a current Beneish M-Score of 0.82. The current Beneish M-Score is 0.82, which is near median its 10-year median of 0.82. Qyuns Therapeutics Co's overall GF Score™ is 9/100 with 5 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 Qyuns Therapeutics Co (HKSE:02509), the current Beneish M-Score is 0.82 as of Aug. 16, 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.

Qyuns Therapeutics Co Business Description

Address No. 907 Yaocheng Avenue, Room 1310, Building 1, Taizhou, Jiangsu, CHN
Qyuns Therapeutics Co Ltd is a clinical-stage biotech company focused on biologic therapies for autoimmune and allergic diseases, with a self-developed drug pipeline. It has built a pipeline that covers the four disease areas in the field, including skin, rheumatic, respiratory, and digestive diseases. The group is principally engaged in the research and development, manufacturing, and commercialisation of biologic therapies for autoimmune and allergic diseases. Key revenue is generated from the PRC.
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