Guoquan Food (Shanghai) Co (HKSE:02517) Beneish M-Score: -1.66 (As of Aug. 18, 2026)

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HKSE:02517 Guoquan Food (Shanghai) Co Ltd HKSE:02517
43 GF Score
Price HK$1.98
! 4 Warning Signs
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What is Guoquan Food (Shanghai) Co Beneish M-Score?

Guoquan Food (Shanghai) Co HKSE:02517 43 Beneish M-Score is -1.66 as of Aug. 18, 2026. GuruFocus rates HKSE:02517 with a GF Score™ of 43/100. The stock has 4 warning signs investors should review. Among 1,858 Consumer Packaged Goods companies, Guoquan Food (Shanghai) Co ranks worse than 85.04% 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 -1.66 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Guoquan Food (Shanghai) Co's Beneish M-Score or its related term are showing as below:

HKSE:02517' s Beneish M-Score Range Over the Past 10 Years
Min: -3.83   Med: -1.71   Max: -0.37
Current: -1.66

During the past 6 years, the highest Beneish M-Score of Guoquan Food (Shanghai) Co was -0.37. The lowest was -3.83. And the median was -1.71.

Guoquan Food (Shanghai) Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Guoquan Food (Shanghai) 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.

Guoquan Food (Shanghai) Co Beneish M-Score Chart

Guoquan Food (Shanghai) Co Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 -1.76 -3.83 -0.37 -1.66

Guoquan Food (Shanghai) Co Semi-Annual Data
Dec20 Dec21 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only -3.83 0.00 -0.37 0.00 -1.66

HKSE:02517 vs KHC, GIS: Beneish M-Score Comparison

For the Packaged Foods subindustry, Guoquan Food (Shanghai) 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.

Guoquan Food (Shanghai) Co Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Guoquan Food (Shanghai) Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Guoquan Food (Shanghai) Co's Beneish M-Score falls into.


HKSE:02517
43GF Score
Guoquan Food (Shanghai) Co Ltd HKSE:02517
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Guoquan Food (Shanghai) 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 Guoquan Food (Shanghai) 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 * 1.8391+0.528 * 1.014+0.404 * 1.0324+0.892 * 1.249+0.115 * 1.0493
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8669+4.679 * -0.029691-0.327 * 1.2672
=-1.66

* 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$585 Mil.
Revenue was HK$8,628 Mil.
Gross Profit was HK$1,863 Mil.
Total Current Assets was HK$3,836 Mil.
Total Assets was HK$5,787 Mil.
Property, Plant and Equipment(Net PPE) was HK$916 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$113 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1,293 Mil.
Total Current Liabilities was HK$2,139 Mil.
Long-Term Debt & Capital Lease Obligation was HK$65 Mil.
Net Income was HK$478 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$650 Mil.
 Total Receivables was HK$255 Mil.
Revenue was HK$6,908 Mil.
Gross Profit was HK$1,513 Mil.
Total Current Assets was HK$3,490 Mil.
Total Assets was HK$5,073 Mil.
Property, Plant and Equipment(Net PPE) was HK$705 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$92 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1,194 Mil.
Total Current Liabilities was HK$1,499 Mil.
Long-Term Debt & Capital Lease Obligation was HK$25 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)
=(585.396 / 8627.894) / (254.835 / 6907.635)
=0.067849 / 0.036892
=1.8391

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)
=(1512.627 / 6907.635) / (1863.194 / 8627.894)
=0.218979 / 0.21595
=1.014

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 - (3836.168 + 915.947) / 5787.012) / (1 - (3489.634 + 704.619) / 5073.02)
=0.178831 / 0.173224
=1.0324

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
=8627.894 / 6907.635
=1.249

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))
=(91.756 / (91.756 + 704.619)) / (112.974 / (112.974 + 915.947))
=0.115217 / 0.109799
=1.0493

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)
=(1292.98 / 8627.894) / (1194.166 / 6907.635)
=0.14986 / 0.172876
=0.8669

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)
=((64.507 + 2138.518) / 5787.012) / ((24.599 + 1499.397) / 5073.02)
=0.380684 / 0.300412
=1.2672

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
=(478.22 - 0 - 650.042) / 5787.012
=-0.029691

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.

Guoquan Food (Shanghai) Co has a M-score of -1.66 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 -1.66 mean?
Guoquan Food (Shanghai) Co (HKSE:02517) has a Beneish M-Score of -1.66 as of Aug. 18, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Guoquan Food (Shanghai) Co and its competitors. According to the industry distribution chart, Guoquan Food (Shanghai) Co ranks #1580 out of 1858 companies in the Consumer Packaged Goods industry, placing it in the top 85%.
Is Guoquan Food (Shanghai) Co's Beneish M-Score too high?
Guoquan Food (Shanghai) Co's current Beneish M-Score is -1.66. Based on the distribution chart, Guoquan Food (Shanghai) Co ranks #1580 out of 1858 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Guoquan Food (Shanghai) Co has a GF Score™ of 43/100, reflecting its overall financial health beyond just this single metric.
How does Guoquan Food (Shanghai) Co's Beneish M-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Guoquan Food (Shanghai) Co ranks #1580 out of 1858 companies for Beneish M-Score. This places Guoquan Food (Shanghai) 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 Guoquan Food (Shanghai) Co and its competitors. Guoquan Food (Shanghai) Co's current Beneish M-Score is -1.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Guoquan Food (Shanghai) Co stock overvalued right now?
Guoquan Food (Shanghai) Co (HKSE:02517) has a current Beneish M-Score of -1.66. The current Beneish M-Score is -1.66. Guoquan Food (Shanghai) Co's overall GF Score™ is 43/100 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 Guoquan Food (Shanghai) Co (HKSE:02517), the current Beneish M-Score is -1.66 as of Aug. 18, 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.

Guoquan Food (Shanghai) Co Business Description

Address Lane 187, Xinghong Road, Room 802, No. 3, Minhang, Shanghai, CHN
Guoquan Food (Shanghai) Co Ltd is the rapidly growing home meal products brand in China. It offers a variety of ready-to-eat, ready-to-heat, ready-to-cook and prepared ingredients, with a focus on at-home hotpot and barbecue products. With a carefully curated product portfolio and an extensive network of community-based stores, it enables consumers to enjoy meals at home with convenience, affordability and tastiness. Leveraging its robust supply chain and production capabilities, The company offers a wide variety of home meal products under the Guoquan Shihui brand through a nationwide network of retail stores in China, serving diverse dining scenarios.
43GF Score

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

HK$1.98
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