Vital Innovations Holdings (HKSE:06133) Beneish M-Score : 0.00 (As of Apr. 01, 2025)

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What is Vital Innovations Holdings Beneish M-Score?

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.

The historical rank and industry rank for Vital Innovations Holdings's Beneish M-Score or its related term are showing as below:

During the past 10 years, the highest Beneish M-Score of Vital Innovations Holdings was 82.38. The lowest was -4.73. And the median was 0.16.

Vital Innovations Holdings Beneish M-Score Historical Data

The historical data trend for Vital Innovations Holdings'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.

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Vital Innovations Holdings Beneish M-Score Chart

Vital Innovations Holdings Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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82.38

-4.19

Vital Innovations Holdings Semi-Annual Data
	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
Beneish M-Score	Get a 7-Day Free Trial															-	-4.19	-	-	-

Competitive Comparison of Vital Innovations Holdings's Beneish M-Score

For the Consumer Electronics subindustry, Vital Innovations Holdings'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.

Vital Innovations Holdings's Beneish M-Score Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Vital Innovations Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Vital Innovations Holdings's Beneish M-Score falls into.

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Vital Innovations Holdings 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 Vital Innovations Holdings for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was HK$1 Mil.
Revenue was HK$914 Mil.
Gross Profit was HK$3 Mil.
Total Current Assets was HK$687 Mil.
Total Assets was HK$688 Mil.
Property, Plant and Equipment(Net PPE) was HK$1 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$1 Mil.
Selling, General, & Admin. Expense(SGA) was HK$25 Mil.
Total Current Liabilities was HK$137 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0 Mil.
Net Income was HK$-23 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$-44 Mil.

Total Receivables was HK$1 Mil.
Revenue was HK$1,220 Mil.
Gross Profit was HK$5 Mil.
Total Current Assets was HK$691 Mil.
Total Assets was HK$693 Mil.
Property, Plant and Equipment(Net PPE) was HK$2 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$1 Mil.
Selling, General, & Admin. Expense(SGA) was HK$25 Mil.
Total Current Liabilities was HK$107 Mil.
Long-Term Debt & Capital Lease Obligation was HK$1 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)
	=	(0.961 / 913.967)	/	(1.092 / 1219.676)
	=	0.001051	/	0.000895
	=

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)
	=	(5.25 / 1219.676)	/	(3.289 / 913.967)
	=	0.004304	/	0.003599
	=

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 - (687.217 + 0.619) / 687.836)	/	(1 - (690.819 + 2.003) / 692.822)
	=	0	/	0
	=

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
	=	913.967	/	1219.676
	=

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))
	=	(1.444 / (1.444 + 2.003))	/	(1.354 / (1.354 + 0.619))
	=	0.418915	/	0.686265
	=

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)
	=	(24.567 / 913.967)	/	(24.953 / 1219.676)
	=	0.02688	/	0.020459
	=

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 + 137.393) / 687.836)	/	((0.629 + 106.929) / 692.822)
	=	0.199747	/	0.155246
	=

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
	=	(-22.793 - 0	-	-44.29)	/	687.836
	=	0.031253

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.

Vital Innovations Holdings Beneish M-Score Related Terms

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Vital Innovations Holdings Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Vital Innovations Holdings Ltd (HKSE:06133) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

No. 55 Jiachuang Second Road, 101-1713, 7th Floor, Block 1, Beijing Economic-Technological Development Area, Tongzhou District, Beijing, CHN, 101111

Website

https://www.vitalinno.com

Vital Innovations Holdings Ltd is an investment holding company. It operates in two segments: Trading of mobile telecommunication devices, which includes mobile telecommunication-related components and smart appliances; and Trading of AI and other equipment. Its geographical segments are Hong Kong, China, and Others, of which the majority of its revenue comes from Hong Kong.

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