Nuobikan Artificial Intelligence Technology (Chengdu) Co (HKSE:02635) Beneish M-Score: -2.44 (As of Aug. 13, 2026)

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HKSE:02635 Nuobikan Artificial Intelligence Technology (Chengdu) Co Ltd HKSE:02635
22 GF Score
Price HK$11.58
! 1 Warning Sign
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What is Nuobikan Artificial Intelligence Technology (Chengdu) Co Beneish M-Score?

Nuobikan Artificial Intelligence Technology (Chengdu) Co HKSE:02635 +2.21% 22 Beneish M-Score is -2.44 as of Aug. 13, 2026. GuruFocus rates HKSE:02635 with a GF Score™ of 22/100. The stock has 1 warning sign investors should review. Among 2,634 Software companies, Nuobikan Artificial Intelligence Technology (Chengdu) Co ranks worse than 56.57% 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 -2.44 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Nuobikan Artificial Intelligence Technology (Chengdu) Co's Beneish M-Score or its related term are showing as below:

HKSE:02635' s Beneish M-Score Range Over the Past 10 Years
Min: -2.44   Med: -2   Max: -1.56
Current: -2.44

During the past 4 years, the highest Beneish M-Score of Nuobikan Artificial Intelligence Technology (Chengdu) Co was -1.56. The lowest was -2.44. And the median was -2.00.

Nuobikan Artificial Intelligence Technology (Chengdu) Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Nuobikan Artificial Intelligence Technology (Chengdu) 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.

Nuobikan Artificial Intelligence Technology (Chengdu) Co Beneish M-Score Chart

Nuobikan Artificial Intelligence Technology (Chengdu) Co Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -1.56 -2.44

Nuobikan Artificial Intelligence Technology (Chengdu) Co Semi-Annual Data
Dec22 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 -1.56 0.00 -2.44

HKSE:02635 vs IBM, ACN, FISV: Beneish M-Score Comparison

For the Information Technology Services subindustry, Nuobikan Artificial Intelligence Technology (Chengdu) 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.

Nuobikan Artificial Intelligence Technology (Chengdu) Co Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Nuobikan Artificial Intelligence Technology (Chengdu) Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Nuobikan Artificial Intelligence Technology (Chengdu) Co's Beneish M-Score falls into.


HKSE:02635
22GF Score
Nuobikan Artificial Intelligence Technology (Chengdu) Co Ltd HKSE:02635
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Nuobikan Artificial Intelligence Technology (Chengdu) 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 Nuobikan Artificial Intelligence Technology (Chengdu) 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 * 0.9105+0.528 * 1.1027+0.404 * 0.5832+0.892 * 1.2802+0.115 * 0.6054
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8765+4.679 * 0.021798-0.327 * 1.289
=-2.44

* 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$591.5 Mil.
Revenue was HK$550.3 Mil.
Gross Profit was HK$294.1 Mil.
Total Current Assets was HK$1,394.4 Mil.
Total Assets was HK$1,621.5 Mil.
Property, Plant and Equipment(Net PPE) was HK$177.1 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$35.7 Mil.
Selling, General, & Admin. Expense(SGA) was HK$62.5 Mil.
Total Current Liabilities was HK$490.7 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.4 Mil.
Net Income was HK$130.2 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$94.8 Mil.
 Total Receivables was HK$507.5 Mil.
Revenue was HK$429.9 Mil.
Gross Profit was HK$253.3 Mil.
Total Current Assets was HK$754.4 Mil.
Total Assets was HK$892.8 Mil.
Property, Plant and Equipment(Net PPE) was HK$91.2 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$10.3 Mil.
Selling, General, & Admin. Expense(SGA) was HK$55.7 Mil.
Total Current Liabilities was HK$206.8 Mil.
Long-Term Debt & Capital Lease Obligation was HK$2.9 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)
=(591.497 / 550.329) / (507.488 / 429.887)
=1.074806 / 1.180515
=0.9105

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)
=(253.287 / 429.887) / (294.062 / 550.329)
=0.589194 / 0.534339
=1.1027

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 - (1394.423 + 177.119) / 1621.51) / (1 - (754.365 + 91.243) / 892.782)
=0.030816 / 0.052839
=0.5832

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
=550.329 / 429.887
=1.2802

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))
=(10.308 / (10.308 + 91.243)) / (35.676 / (35.676 + 177.119))
=0.101506 / 0.167654
=0.6054

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)
=(62.478 / 550.329) / (55.682 / 429.887)
=0.113528 / 0.129527
=0.8765

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)
=((0.36 + 490.731) / 1621.51) / ((2.922 + 206.848) / 892.782)
=0.30286 / 0.234962
=1.289

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
=(130.184 - 0 - 94.838) / 1621.51
=0.021798

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.

Nuobikan Artificial Intelligence Technology (Chengdu) Co has a M-score of -2.44 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 -2.44 mean?
Nuobikan Artificial Intelligence Technology (Chengdu) Co (HKSE:02635) has a Beneish M-Score of -2.44 as of Aug. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Nuobikan Artificial Intelligence Technology (Chengdu) Co and its competitors. According to the industry distribution chart, Nuobikan Artificial Intelligence Technology (Chengdu) Co ranks #1490 out of 2634 companies in the Software industry, placing it in the top 56.6%.
Is Nuobikan Artificial Intelligence Technology (Chengdu) Co's Beneish M-Score too high?
Nuobikan Artificial Intelligence Technology (Chengdu) Co's current Beneish M-Score is -2.44. Based on the distribution chart, Nuobikan Artificial Intelligence Technology (Chengdu) Co ranks #1490 out of 2634 companies in the Software industry, which is below the industry midpoint. Overall, Nuobikan Artificial Intelligence Technology (Chengdu) Co has a GF Score™ of 22/100, reflecting its overall financial health beyond just this single metric.
How does Nuobikan Artificial Intelligence Technology (Chengdu) Co's Beneish M-Score compare to IBM and ACN?
According to the Software industry distribution chart, Nuobikan Artificial Intelligence Technology (Chengdu) Co ranks #1490 out of 2634 companies for Beneish M-Score. This places Nuobikan Artificial Intelligence Technology (Chengdu) 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 Software company?
A good Beneish M-Score depends on the Software 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 Nuobikan Artificial Intelligence Technology (Chengdu) Co and its competitors. Nuobikan Artificial Intelligence Technology (Chengdu) Co's current Beneish M-Score is -2.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nuobikan Artificial Intelligence Technology (Chengdu) Co stock overvalued right now?
Nuobikan Artificial Intelligence Technology (Chengdu) Co (HKSE:02635) has a current Beneish M-Score of -2.44. The current Beneish M-Score is -2.44. Nuobikan Artificial Intelligence Technology (Chengdu) Co's overall GF Score™ is 22/100 with 1 warning sign 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 Nuobikan Artificial Intelligence Technology (Chengdu) Co (HKSE:02635), the current Beneish M-Score is -2.44 as of Aug. 13, 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.

Nuobikan Artificial Intelligence Technology (Chengdu) Co Business Description

Address No. 338, Guo Xin 4th Road, A9-4, Xin Gu Industrial Park, Shuangliu District, Sichuan Province, Chengdu, CHN
Nuobikan Artificial Intelligence Technology (Chengdu) Co Ltd develops and sells monitoring and inspection products and solutions for railway operation and power grid companies, and other urban management solutions in the PRC. It mainly provides integrated software and hardware solutions adopting comprehensive AI industry models for monitoring, inspection and maintenance purposes. The company generates revenue from businesses including (i) rail transit for transportation solution business, (ii) electricity for energy solution business, and (iii) urban management solution business. The company generates the majority of revenue from the Urban management solution business. Geographically, it derives the maximum revenue from China.
22GF 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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