Zhenro Properties Group (HKSE:06158) Beneish M-Score: -2.08 (As of Aug. 16, 2026)

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What is Zhenro Properties Group Beneish M-Score?

Zhenro Properties Group HKSE:06158 -8.70% Beneish M-Score is -2.08 as of Aug. 16, 2026. The stock has 4 warning signs investors should review. Among 1,680 Real Estate companies, Zhenro Properties Group ranks worse than 66.13% 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 -2.08 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Zhenro Properties Group's Beneish M-Score or its related term are showing as below:

HKSE:06158' s Beneish M-Score Range Over the Past 10 Years
Min: -2.82   Med: -1.76   Max: 0.12
Current: -2.08

During the past 12 years, the highest Beneish M-Score of Zhenro Properties Group was 0.12. The lowest was -2.82. And the median was -1.76.

Zhenro Properties Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Zhenro Properties Group'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.

Zhenro Properties Group Beneish M-Score Chart

Zhenro Properties Group Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.69 -1.83 -2.65 -2.82 -2.08

Zhenro Properties Group Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.65 0.00 -2.82 0.00 -2.08

Zhenro Properties Group Beneish M-Score Competitor Comparison

For the Real Estate - Development subindustry, Zhenro Properties Group'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.

Zhenro Properties Group Beneish M-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Zhenro Properties Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Zhenro Properties Group's Beneish M-Score falls into.


Zhenro Properties Group 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 Zhenro Properties Group 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 * 2.5152+0.528 * 2.7067+0.404 * 1.1293+0.892 * 0.3032+0.115 * 0.7327
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 2.3636+4.679 * -0.208683-0.327 * 1.2554
=-2.08

* 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$19,974 Mil.
Revenue was HK$10,818 Mil.
Gross Profit was HK$235 Mil.
Total Current Assets was HK$79,162 Mil.
Total Assets was HK$95,127 Mil.
Property, Plant and Equipment(Net PPE) was HK$534 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$60 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1,092 Mil.
Total Current Liabilities was HK$117,415 Mil.
Long-Term Debt & Capital Lease Obligation was HK$2,738 Mil.
Net Income was HK$-19,266 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$585 Mil.
 Total Receivables was HK$26,192 Mil.
Revenue was HK$35,678 Mil.
Gross Profit was HK$2,097 Mil.
Total Current Assets was HK$103,106 Mil.
Total Assets was HK$121,055 Mil.
Property, Plant and Equipment(Net PPE) was HK$560 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$45 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1,523 Mil.
Total Current Liabilities was HK$116,844 Mil.
Long-Term Debt & Capital Lease Obligation was HK$4,953 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)
=(19974.395 / 10817.812) / (26191.506 / 35678.297)
=1.846436 / 0.734102
=2.5152

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)
=(2096.697 / 35678.297) / (234.875 / 10817.812)
=0.058767 / 0.021712
=2.7067

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 - (79161.782 + 534.061) / 95126.894) / (1 - (103105.517 + 560.096) / 121054.972)
=0.162215 / 0.143648
=1.1293

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
=10817.812 / 35678.297
=0.3032

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))
=(45.045 / (45.045 + 560.096)) / (60.388 / (60.388 + 534.061))
=0.074437 / 0.101587
=0.7327

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)
=(1091.774 / 10817.812) / (1523.419 / 35678.297)
=0.100924 / 0.042699
=2.3636

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)
=((2738.2 + 117414.928) / 95126.894) / ((4953.361 + 116844.044) / 121054.972)
=1.263083 / 1.006133
=1.2554

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
=(-19266.348 - 0 - 584.972) / 95126.894
=-0.208683

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.

Zhenro Properties Group has a M-score of -2.08 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 -2.08 mean?
Zhenro Properties Group (HKSE:06158) has a Beneish M-Score of -2.08 as of Aug. 16, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Zhenro Properties Group and its competitors. According to the industry distribution chart, Zhenro Properties Group ranks #1111 out of 1680 companies in the Real Estate industry, placing it in the top 66.1%.
Is Zhenro Properties Group's Beneish M-Score too high?
Zhenro Properties Group's current Beneish M-Score is -2.08. Based on the distribution chart, Zhenro Properties Group ranks #1111 out of 1680 companies in the Real Estate industry, which is below the industry midpoint.
How does Zhenro Properties Group's Beneish M-Score compare to competitors?
According to the Real Estate industry distribution chart, Zhenro Properties Group ranks #1111 out of 1680 companies for Beneish M-Score. This places Zhenro Properties Group 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 Real Estate company?
A good Beneish M-Score depends on the Real Estate 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 Zhenro Properties Group and its competitors. Zhenro Properties Group's current Beneish M-Score is -2.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zhenro Properties Group stock overvalued right now?
Based on GuruFocus' analysis, Zhenro Properties Group (HKSE:06158) is currently considered Fairly Valued. The stock's GF Value™ is HK$0.02, compared to a current price of HK$0.02 — trading 5% above its estimated fair value. The current Beneish M-Score is -2.08. 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 Zhenro Properties Group (HKSE:06158), the current Beneish M-Score is -2.08 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.

Zhenro Properties Group Business Description

Other Exchanges 1ZZ:Germany
Address 666 Shenhong Road, 3rd Floor, Building 7, Hongqiao Zhenro Center, Minhang District, Shanghai, CHN
Zhenro Properties Group Ltd is a China-based holding company principally engaged in real estate development and property leasing. The Company focuses on the development of residential properties, and the development, operation, and management of commercial properties. The Company's businesses include property sales, property leasing, management consulting services, property management services, and sales of goods.