China Biotech Services Holdings (HKSE:08037) Beneish M-Score: -3.95 (As of Jul. 25, 2026)

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China Biotech Services Holdings Ltd HKSE:08037

19 GF Score

Price HK$0.64

GF Value HK$0.27

Valuation Significantly Overvalued

6 Warning Signs

View Full Analysis

What is China Biotech Services Holdings Beneish M-Score?

China Biotech Services Holdings HKSE:08037 -1.54% 19 Beneish M-Score is -3.95 as of Jul. 25, 2026. GuruFocus rates HKSE:08037 with a GF Score™ of 19/100 and a GF Value™ of HK$0.27 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 194 Medical Diagnostics & Research companies, China Biotech Services Holdings ranks better than 91.24% 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 -3.95 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:08037' s Beneish M-Score Range Over the Past 10 Years
Min: -4.93 Med: -2.8 Max: 3
Current: -3.95

During the past 13 years, the highest Beneish M-Score of China Biotech Services Holdings was 3.00. The lowest was -4.93. And the median was -2.80.

China Biotech Services Holdings Beneish M-Score Related Terms

China Biotech Services Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for China Biotech Services 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.

China Biotech Services Holdings Beneish M-Score Chart

China Biotech Services Holdings Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-1.09

-0.49

-4.93

-4.36

-3.95

China Biotech Services Holdings 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															-4.93	0.00	-4.36	0.00	-3.95

HKSE:08037 vs TMO, DHR, IDXX: Beneish M-Score Comparison

For the Diagnostics & Research subindustry, China Biotech Services 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.

China Biotech Services Holdings Beneish M-Score vs Medical Diagnostics & Research Industry

For the Medical Diagnostics & Research industry and Healthcare sector, China Biotech Services Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where China Biotech Services Holdings's Beneish M-Score falls into.

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19GF Score

China Biotech Services Holdings Ltd HKSE:08037

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

View Full Analysis

China Biotech Services 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 China Biotech Services 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 * 0.5814

0.528 * -0.6666

0.404 * 0.7225

0.892 * 1.0425

0.115 * 2.1595

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.5799

4.679 * -0.032451

0.327 * 1.577

-3.95

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was HK$12.76 Mil.
Revenue was HK$73.50 Mil.
Gross Profit was HK$7.73 Mil.
Total Current Assets was HK$79.69 Mil.
Total Assets was HK$702.58 Mil.
Property, Plant and Equipment(Net PPE) was HK$390.08 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$16.44 Mil.
Selling, General, & Admin. Expense(SGA) was HK$66.44 Mil.
Total Current Liabilities was HK$345.76 Mil.
Long-Term Debt & Capital Lease Obligation was HK$147.74 Mil.
Net Income was HK$-68.78 Mil.
Gross Profit was HK$0.00 Mil.
Cash Flow from Operations was HK$-45.98 Mil.

Total Receivables was HK$21.05 Mil.
Revenue was HK$70.51 Mil.
Gross Profit was HK$-4.94 Mil.
Total Current Assets was HK$63.10 Mil.
Total Assets was HK$529.96 Mil.
Property, Plant and Equipment(Net PPE) was HK$223.81 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$21.42 Mil.
Selling, General, & Admin. Expense(SGA) was HK$109.92 Mil.
Total Current Liabilities was HK$192.61 Mil.
Long-Term Debt & Capital Lease Obligation was HK$43.43 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)
	=	(12.755 / 73.503)	/	(21.045 / 70.509)
	=	0.17353	/	0.298473
	=	0.5814

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)
	=	(-4.94 / 70.509)	/	(7.726 / 73.503)
	=	-0.070062	/	0.105111
	=	-0.6666

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 - (79.689 + 390.082) / 702.575)	/	(1 - (63.095 + 223.811) / 529.955)
	=	0.331358	/	0.458622
	=	0.7225

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
	=	73.503	/	70.509
	=	1.0425

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))
	=	(21.416 / (21.416 + 223.811))	/	(16.44 / (16.44 + 390.082))
	=	0.087331	/	0.040441
	=	2.1595

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)
	=	(66.443 / 73.503)	/	(109.915 / 70.509)
	=	0.903949	/	1.558879
	=	0.5799

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)
	=	((147.743 + 345.758) / 702.575)	/	((43.428 + 192.614) / 529.955)
	=	0.702418	/	0.4454
	=	1.577

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
	=	(-68.778 - 0	-	-45.979)	/	702.575
	=	-0.032451

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.

China Biotech Services Holdings has a M-score of -3.95 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 -3.95 mean?

China Biotech Services Holdings (HKSE:08037) has a Beneish M-Score of -3.95 as of Jul. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on China Biotech Services Holdings and its competitors. According to the industry distribution chart, China Biotech Services Holdings ranks #17 out of 194 companies in the Medical Diagnostics & Research industry, placing it in the top 8.8%.

Is China Biotech Services Holdings' Beneish M-Score too high?

China Biotech Services Holdings' current Beneish M-Score is -3.95. Based on the distribution chart, China Biotech Services Holdings ranks #17 out of 194 companies in the Medical Diagnostics & Research industry, which is in the top quartile — a strong position relative to peers. Overall, China Biotech Services Holdings has a GF Score™ of 19/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does China Biotech Services Holdings' Beneish M-Score compare to TMO and DHR?

According to the Medical Diagnostics & Research industry distribution chart, China Biotech Services Holdings ranks #17 out of 194 companies for Beneish M-Score. This places China Biotech Services Holdings in the top 9% of its industry — outperforming the majority of peers. 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 Medical Diagnostics & Research company?

A good Beneish M-Score depends on the Medical Diagnostics & Research 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 China Biotech Services Holdings and its competitors. China Biotech Services Holdings's current Beneish M-Score is -3.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is China Biotech Services Holdings stock overvalued right now?

Based on GuruFocus' analysis, China Biotech Services Holdings (HKSE:08037) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$0.27, compared to a current price of HK$0.64 — trading 137% above its estimated fair value. The current Beneish M-Score is -3.95. China Biotech Services Holdings' overall GF Score™ is 19/100 with 6 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 China Biotech Services Holdings (HKSE:08037), the current Beneish M-Score is -3.95 as of Jul. 25, 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.

Is China Biotech Services Holdings (HKSE:08037) Overvalued in 2026?

Based on GuruFocus' analysis, China Biotech Services Holdings stock appears to be overvalued. The current stock price of HK$0.64 is trading 137% above its estimated GF Value™ of HK$0.27. GuruFocus considers China Biotech Services Holdings to be Significantly Overvalued.

Key valuation signals for HKSE:08037:

Beneish M-Score: -3.95
GF Value™: HK$0.27 vs. price of HK$0.64 (137% above fair value)
GF Score™: 19/100 with 6 warning signs

No single metric tells the full story. See the HKSE:08037 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

China Biotech Services Holdings Business Description

Industry Healthcare Medical Diagnostics & Research

Comparable Companies HKSE:08247 HKSE:02325 HKSE:00928 HKSE:08225 HKSE:09960 HKSE:06667 TMO DHR SHSE:603259 XSWX:LONN IDXX A NTRA WAT IQV ILMN MTD DGX LH GH

Address 255-257 Gloucester Road, Suites 1904-05A, 19th Floor, Sino Plaza, Causeway Bay, Hong Kong, HKG

Website http://www.cbshhk.com

China Biotech Services Holdings Ltd is an investment holding company. It operates through five segments: Pharmaceutical Products, Medical and Health-Related Services, Immunotherapy, Insurance brokerage, BNCT, and Others. It derives prime revenue from the Medical & health-related services segment, which involves the provision of medical laboratory testing & health check services. The group has a business presence in Hong Kong & the PRC, of which key revenue is generated from Hong Kong. Immunotherapy-provision of tumor immune cell therapy & health management services. Pharmaceutical products-sale & distribution of health-related & pharmaceutical products. Insurance brokerage services. BNCT-provision of boron neutron capture therapy treatment services, & Others-provision of logistic services.

19GF Score

Get the complete analysis for HKSE:08037

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

HK$0.64

Price

HK$0.27

GF Value

View HKSE:08037 Analysis

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