Anhui Conch Material Technology Co (HKSE:02560) Beneish M-Score: -2.64 (As of Aug. 16, 2026)

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HKSE:02560 Anhui Conch Material Technology Co Ltd HKSE:02560
17 GF Score
Price HK$1.44
! 2 Warning Signs
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What is Anhui Conch Material Technology Co Beneish M-Score?

Anhui Conch Material Technology Co HKSE:02560 17 Beneish M-Score is -2.64 as of Aug. 16, 2026. GuruFocus rates HKSE:02560 with a GF Score™ of 17/100. The stock has 2 warning signs investors should review. Among 385 Building Materials companies, Anhui Conch Material Technology Co ranks better than 57.14% 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.

Good Sign:

Beneish M-Score -2.64 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:02560' s Beneish M-Score Range Over the Past 10 Years
Min: -2.91   Med: -2.64   Max: -2.43
Current: -2.64

During the past 5 years, the highest Beneish M-Score of Anhui Conch Material Technology Co was -2.43. The lowest was -2.91. And the median was -2.64.

Anhui Conch Material Technology Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Anhui Conch Material Technology 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.

Anhui Conch Material Technology Co Beneish M-Score Chart

Anhui Conch Material Technology Co Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -2.91 -2.43 -2.64

Anhui Conch Material Technology Co Semi-Annual Data
Dec21 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial -2.91 0.00 -2.43 0.00 -2.64

HKSE:02560 vs CRH, VMC, MLM: Beneish M-Score Comparison

For the Building Materials subindustry, Anhui Conch Material Technology 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.

Anhui Conch Material Technology Co Beneish M-Score vs Building Materials Industry

For the Building Materials industry and Basic Materials sector, Anhui Conch Material Technology Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Anhui Conch Material Technology Co's Beneish M-Score falls into.


HKSE:02560
17GF Score
Anhui Conch Material Technology Co Ltd HKSE:02560
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Anhui Conch Material Technology 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 Anhui Conch Material Technology 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 * 1.0067+0.528 * 1.062+0.404 * 0.8278+0.892 * 1.0044+0.115 * 1.0248
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1373+4.679 * -0.031729-0.327 * 0.8896
=-2.64

* 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$943 Mil.
Revenue was HK$2,557 Mil.
Gross Profit was HK$464 Mil.
Total Current Assets was HK$1,720 Mil.
Total Assets was HK$3,220 Mil.
Property, Plant and Equipment(Net PPE) was HK$1,417 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$85 Mil.
Selling, General, & Admin. Expense(SGA) was HK$261 Mil.
Total Current Liabilities was HK$1,196 Mil.
Long-Term Debt & Capital Lease Obligation was HK$332 Mil.
Net Income was HK$121 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$223 Mil.
 Total Receivables was HK$932 Mil.
Revenue was HK$2,545 Mil.
Gross Profit was HK$491 Mil.
Total Current Assets was HK$1,267 Mil.
Total Assets was HK$2,626 Mil.
Property, Plant and Equipment(Net PPE) was HK$1,277 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$79 Mil.
Selling, General, & Admin. Expense(SGA) was HK$228 Mil.
Total Current Liabilities was HK$1,179 Mil.
Long-Term Debt & Capital Lease Obligation was HK$222 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)
=(942.645 / 2556.621) / (932.286 / 2545.489)
=0.368707 / 0.36625
=1.0067

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)
=(490.787 / 2545.489) / (464.175 / 2556.621)
=0.192807 / 0.181558
=1.062

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 - (1719.71 + 1417.183) / 3219.933) / (1 - (1267.112 + 1276.769) / 2625.682)
=0.025789 / 0.031154
=0.8278

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
=2556.621 / 2545.489
=1.0044

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))
=(78.514 / (78.514 + 1276.769)) / (84.915 / (84.915 + 1417.183))
=0.057932 / 0.056531
=1.0248

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)
=(260.98 / 2556.621) / (228.47 / 2545.489)
=0.10208 / 0.089755
=1.1373

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)
=((332.403 + 1195.745) / 3219.933) / ((222.186 + 1178.642) / 2625.682)
=0.47459 / 0.53351
=0.8896

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
=(120.825 - 0 - 222.991) / 3219.933
=-0.031729

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.

Anhui Conch Material Technology Co has a M-score of -2.64 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.64 mean?
Anhui Conch Material Technology Co (HKSE:02560) has a Beneish M-Score of -2.64 as of Aug. 16, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Anhui Conch Material Technology Co and its competitors. According to the industry distribution chart, Anhui Conch Material Technology Co ranks #165 out of 385 companies in the Building Materials industry, placing it in the top 42.9%.
Is Anhui Conch Material Technology Co's Beneish M-Score too high?
Anhui Conch Material Technology Co's current Beneish M-Score is -2.64. Based on the distribution chart, Anhui Conch Material Technology Co ranks #165 out of 385 companies in the Building Materials industry, which is above the industry midpoint. Overall, Anhui Conch Material Technology Co has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.
How does Anhui Conch Material Technology Co's Beneish M-Score compare to CRH and VMC?
According to the Building Materials industry distribution chart, Anhui Conch Material Technology Co ranks #165 out of 385 companies for Beneish M-Score. This puts Anhui Conch Material Technology Co in the upper 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 Building Materials company?
A good Beneish M-Score depends on the Building Materials 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 Anhui Conch Material Technology Co and its competitors. Anhui Conch Material Technology Co's current Beneish M-Score is -2.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Anhui Conch Material Technology Co stock overvalued right now?
Anhui Conch Material Technology Co (HKSE:02560) has a current Beneish M-Score of -2.64. The current Beneish M-Score is -2.64. Anhui Conch Material Technology Co's overall GF Score™ is 17/100 with 2 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 Anhui Conch Material Technology Co (HKSE:02560), the current Beneish M-Score is -2.64 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.

Anhui Conch Material Technology Co Business Description

Address 150 Meters South of Tongjiang Avenue, No. 1-301, G Zone, Jiangbei New District Construction Headquarters, Anhui Province, Wanjiang Jiangbei Emerging Industry, Concentration Zone (except the Trusteeship Area, Wuhu, CHN
Anhui Conch Material Technology Co Ltd i principally engaged in research and development, production and sales of cement admixture, concrete admixture together with their respective inprocess intermediaries. It mainly includes the various types of Cement admixture and in-process intermediaries, Concrete admixture and in-process intermediaries. and Others. Geographically, the company has presence in Mainland China and Asia.
17GF Score

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

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