Voyah Automobile Technology Co (HKSE:07489) Beneish M-Score: -1.29 (As of Aug. 06, 2026)

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HKSE:07489 Voyah Automobile Technology Co Ltd HKSE:07489
12 GF Score
Price HK$2.81
! 5 Warning Signs
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What is Voyah Automobile Technology Co Beneish M-Score?

Voyah Automobile Technology Co HKSE:07489 -2.43% 12 Beneish M-Score is -1.29 as of Aug. 06, 2026. GuruFocus rates HKSE:07489 with a GF Score™ of 12/100. The stock has 5 warning signs investors should review. Among 1,275 Vehicles & Parts companies, Voyah Automobile Technology Co ranks worse than 94.04% 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 -1.29 higher than -1.78, which implies that the company might have manipulated its financial results.

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

HKSE:07489' s Beneish M-Score Range Over the Past 10 Years
Min: -1.29   Med: -1.29   Max: -1.29
Current: -1.29

During the past 3 years, the highest Beneish M-Score of Voyah Automobile Technology Co was -1.29. The lowest was -1.29. And the median was -1.29.

Voyah Automobile Technology Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Voyah Automobile 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.

Voyah Automobile Technology Co Beneish M-Score Chart

Voyah Automobile Technology Co Annual Data
Trend Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -1.29

Voyah Automobile Technology Co Semi-Annual Data
Dec23 Dec24 Dec25
Beneish M-Score 0.00 0.00 -1.29

HKSE:07489 vs TSLA, GM, F: Beneish M-Score Comparison

For the Auto Manufacturers subindustry, Voyah Automobile 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.

Voyah Automobile Technology Co Beneish M-Score vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Voyah Automobile Technology Co's Beneish M-Score distribution charts can be found below:

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


HKSE:07489
12GF Score
Voyah Automobile Technology Co Ltd HKSE:07489
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Voyah Automobile 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 Voyah Automobile 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 * 1.9107+0.528 * 1.0035+0.404 * 0.7991+0.892 * 1.8633+0.115 * 1.2104
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7811+4.679 * -0.092853-0.327 * 0.8856
=-1.29

* 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$3,603 Mil.
Revenue was HK$38,516 Mil.
Gross Profit was HK$8,060 Mil.
Total Current Assets was HK$23,214 Mil.
Total Assets was HK$44,057 Mil.
Property, Plant and Equipment(Net PPE) was HK$11,744 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$2,965 Mil.
Selling, General, & Admin. Expense(SGA) was HK$6,813 Mil.
Total Current Liabilities was HK$26,614 Mil.
Long-Term Debt & Capital Lease Obligation was HK$4,669 Mil.
Net Income was HK$1,124 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$5,215 Mil.
 Total Receivables was HK$1,012 Mil.
Revenue was HK$20,671 Mil.
Gross Profit was HK$4,341 Mil.
Total Current Assets was HK$11,486 Mil.
Total Assets was HK$23,435 Mil.
Property, Plant and Equipment(Net PPE) was HK$5,892 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$1,902 Mil.
Selling, General, & Admin. Expense(SGA) was HK$4,681 Mil.
Total Current Liabilities was HK$15,582 Mil.
Long-Term Debt & Capital Lease Obligation was HK$3,208 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)
=(3602.819 / 38516.037) / (1011.973 / 20670.817)
=0.093541 / 0.048957
=1.9107

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)
=(4340.615 / 20670.817) / (8060.084 / 38516.037)
=0.209988 / 0.209266
=1.0035

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 - (23213.912 + 11743.73) / 44057.38) / (1 - (11485.989 + 5891.865) / 23434.725)
=0.206543 / 0.258457
=0.7991

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
=38516.037 / 20670.817
=1.8633

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))
=(1901.763 / (1901.763 + 5891.865)) / (2965.269 / (2965.269 + 11743.73))
=0.244015 / 0.201596
=1.2104

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)
=(6812.844 / 38516.037) / (4681.234 / 20670.817)
=0.176883 / 0.226466
=0.7811

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)
=((4669.3 + 26614.004) / 44057.38) / ((3208.265 + 15581.623) / 23434.725)
=0.710058 / 0.801797
=0.8856

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
=(1123.923 - 0 - 5214.803) / 44057.38
=-0.092853

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.

Voyah Automobile Technology Co has a M-score of -1.29 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 -1.29 mean?
Voyah Automobile Technology Co (HKSE:07489) has a Beneish M-Score of -1.29 as of Aug. 06, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Voyah Automobile Technology Co and its competitors. According to the industry distribution chart, Voyah Automobile Technology Co ranks #1199 out of 1275 companies in the Vehicles & Parts industry, placing it in the top 94%.
Is Voyah Automobile Technology Co's Beneish M-Score too high?
Voyah Automobile Technology Co's current Beneish M-Score is -1.29. Based on the distribution chart, Voyah Automobile Technology Co ranks #1199 out of 1275 companies in the Vehicles & Parts industry, which is in the bottom quartile relative to peers. Overall, Voyah Automobile Technology Co has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Voyah Automobile Technology Co's Beneish M-Score compare to TSLA and GM?
According to the Vehicles & Parts industry distribution chart, Voyah Automobile Technology Co ranks #1199 out of 1275 companies for Beneish M-Score. This places Voyah Automobile 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 Vehicles & Parts company?
A good Beneish M-Score depends on the Vehicles & Parts 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 Voyah Automobile Technology Co and its competitors. Voyah Automobile Technology Co's current Beneish M-Score is -1.29. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Voyah Automobile Technology Co stock overvalued right now?
Voyah Automobile Technology Co (HKSE:07489) has a current Beneish M-Score of -1.29. The current Beneish M-Score is -1.29. Voyah Automobile Technology Co's overall GF Score™ is 12/100 with 5 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 Voyah Automobile Technology Co (HKSE:07489), the current Beneish M-Score is -1.29 as of Aug. 06, 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.

Voyah Automobile Technology Co Business Description

Address No. 1, Yongfeng Ring Road, Hanyang District, Hubei Province, Wuhan, CHN
Voyah Automobile Technology Co Ltd is an intelligent NEV brand under DFM, one of the Chinese vast central state-owned automobile groups. The group designs, develops, and sells premium NEVs, epitomizing the leap from manufacturing to smart manufacturing among Chinese brands. Drawing on the DFG's automotive manufacturing heritage, it achieves breakthroughs in safety, battery-motor-control systems, and smart technologies. The group focused on the premium segment in China's NEV market. It has launched five NEV series, such as the VOYAH FREE series, a mid-to large-sized SUV; the VOYAH DREAM series, which is a flagship luxury MPV; the VOYAH PASSION series, a flagship sedan; the VOYAH COURAGE series, a mid-sized SUV; and the VOYAH TAISHAN series, a flagship six-seat full-size SUV.
12GF 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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