Shenzhen Xunce Technology Co (HKSE:03317) Beneish M-Score: -1.48 (As of Aug. 17, 2026)

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HKSE:03317 Shenzhen Xunce Technology Co Ltd HKSE:03317
11 GF Score
Price HK$145.60
! 3 Warning Signs
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What is Shenzhen Xunce Technology Co Beneish M-Score?

Shenzhen Xunce Technology Co HKSE:03317 +5.51% 11 Beneish M-Score is -1.48 as of Aug. 17, 2026. GuruFocus rates HKSE:03317 with a GF Score™ of 11/100. The stock has 3 warning signs investors should review. Among 2,634 Software companies, Shenzhen Xunce Technology Co ranks worse than 84.89% 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 -1.48 higher than -1.78, which implies that the company might have manipulated its financial results.

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

HKSE:03317' s Beneish M-Score Range Over the Past 10 Years
Min: -2.27   Med: -1.88   Max: -1.48
Current: -1.48

During the past 4 years, the highest Beneish M-Score of Shenzhen Xunce Technology Co was -1.48. The lowest was -2.27. And the median was -1.88.

Shenzhen Xunce Technology Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Shenzhen Xunce 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.

Shenzhen Xunce Technology Co Beneish M-Score Chart

Shenzhen Xunce Technology Co Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -2.27 -1.48

Shenzhen Xunce Technology Co Semi-Annual Data
Dec22 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 -2.27 0.00 -1.48

HKSE:03317 vs IBM, ACN, FISV: Beneish M-Score Comparison

For the Information Technology Services subindustry, Shenzhen Xunce 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.

Shenzhen Xunce Technology Co Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Shenzhen Xunce Technology Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Shenzhen Xunce Technology Co's Beneish M-Score falls into.


HKSE:03317
11GF Score
Shenzhen Xunce Technology Co Ltd HKSE:03317
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Shenzhen Xunce 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 Shenzhen Xunce 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 * 1.2762+0.528 * 1.2437+0.404 * 0.6122+0.892 * 2.1033+0.115 * 2.7851
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7354+4.679 * -0.001646-0.327 * 2.3714
=-1.48

* 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$768 Mil.
Revenue was HK$1,419 Mil.
Gross Profit was HK$875 Mil.
Total Current Assets was HK$2,268 Mil.
Total Assets was HK$3,504 Mil.
Property, Plant and Equipment(Net PPE) was HK$204 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$30 Mil.
Selling, General, & Admin. Expense(SGA) was HK$218 Mil.
Total Current Liabilities was HK$808 Mil.
Long-Term Debt & Capital Lease Obligation was HK$22 Mil.
Net Income was HK$-104 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$-98 Mil.
 Total Receivables was HK$286 Mil.
Revenue was HK$675 Mil.
Gross Profit was HK$517 Mil.
Total Current Assets was HK$969 Mil.
Total Assets was HK$1,956 Mil.
Property, Plant and Equipment(Net PPE) was HK$46 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$25 Mil.
Selling, General, & Admin. Expense(SGA) was HK$141 Mil.
Total Current Liabilities was HK$176 Mil.
Long-Term Debt & Capital Lease Obligation was HK$19 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)
=(767.704 / 1419.193) / (285.995 / 674.745)
=0.540944 / 0.423856
=1.2762

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)
=(517.423 / 674.745) / (875.033 / 1419.193)
=0.766842 / 0.616571
=1.2437

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 - (2268.342 + 203.539) / 3503.994) / (1 - (968.694 + 46.357) / 1956.362)
=0.294553 / 0.481154
=0.6122

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
=1419.193 / 674.745
=2.1033

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))
=(25.381 / (25.381 + 46.357)) / (29.619 / (29.619 + 203.539))
=0.353801 / 0.127034
=2.7851

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)
=(218.338 / 1419.193) / (141.163 / 674.745)
=0.153847 / 0.209209
=0.7354

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)
=((22.057 + 807.813) / 3503.994) / ((19.18 + 176.204) / 1956.362)
=0.236835 / 0.099871
=2.3714

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
=(-103.912 - 0 - -98.144) / 3503.994
=-0.001646

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.

Shenzhen Xunce Technology Co has a M-score of -1.48 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 -1.48 mean?
Shenzhen Xunce Technology Co (HKSE:03317) has a Beneish M-Score of -1.48 as of Aug. 17, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Shenzhen Xunce Technology Co and its competitors. According to the industry distribution chart, Shenzhen Xunce Technology Co ranks #2236 out of 2634 companies in the Software industry, placing it in the top 84.9%.
Is Shenzhen Xunce Technology Co's Beneish M-Score too high?
Shenzhen Xunce Technology Co's current Beneish M-Score is -1.48. Based on the distribution chart, Shenzhen Xunce Technology Co ranks #2236 out of 2634 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Shenzhen Xunce Technology Co has a GF Score™ of 11/100, reflecting its overall financial health beyond just this single metric.
How does Shenzhen Xunce Technology Co's Beneish M-Score compare to IBM and ACN?
According to the Software industry distribution chart, Shenzhen Xunce Technology Co ranks #2236 out of 2634 companies for Beneish M-Score. This places Shenzhen Xunce Technology 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 Shenzhen Xunce Technology Co and its competitors. Shenzhen Xunce Technology Co's current Beneish M-Score is -1.48. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shenzhen Xunce Technology Co stock overvalued right now?
Shenzhen Xunce Technology Co (HKSE:03317) has a current Beneish M-Score of -1.48. The current Beneish M-Score is -1.48. Shenzhen Xunce Technology Co's overall GF Score™ is 11/100 with 3 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 Shenzhen Xunce Technology Co (HKSE:03317), the current Beneish M-Score is -1.48 as of Aug. 17, 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.

Shenzhen Xunce Technology Co Business Description

Other Exchanges LV3:Germany
Address No. 3156 Keyuan South Road, Yuehai Street, 66th Floor, Tower A, Building 2, Shenzhen Bay, Innovation Technology Center, Gaoxin Community, Nanshan District, Guangdong Province, Shenzhen, CHN
Shenzhen Xunce Technology Co Ltd is a real-time data infrastructure and analytics solutions provider in China. The Company, with its core AI Data Agent, continuously strengthened its millisecond-level real-time data processing capabilities and built a full-chain technical system covering data acquisition, cleansing, standardisation, real-time computation, and large model fine-tuning. The Group provides solutions encompassing data infrastructure and data analytics to customers across various industries, achieving seamless deployment within clients' self-managed clouds and on-premises systems. The Group is organized into one single business unit that is the provision of transactionbased specialist technology products and subscription-based specialist technology products.
11GF Score

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