Hua Xia Water Group (HKSE:08401) Beneish M-Score: 0.00 (As of Aug. 14, 2026)

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What is Hua Xia Water Group Beneish M-Score?

Hua Xia Water Group HKSE:08401 Beneish M-Score is 0.00 as of Aug. 14, 2026. The stock has 5 warning signs investors should review. Among 970 Media - Diversified companies, Hua Xia Water Group ranks worse than 103092.68% 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.

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

During the past 11 years, the highest Beneish M-Score of Hua Xia Water Group was 0.68. The lowest was -4.82. And the median was -2.92.

Hua Xia Water Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Hua Xia Water 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.

Hua Xia Water Group Beneish M-Score Chart

Hua Xia Water Group Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.82 -3.99 -4.82 0.00 0.00

Hua Xia Water Group Semi-Annual Data
Mar16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
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 -4.82 0.00 0.00 0.00 0.00

HKSE:08401 vs APP, OMC, TTD: Beneish M-Score Comparison

For the Advertising Agencies subindustry, Hua Xia Water 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.

Hua Xia Water Group Beneish M-Score vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Hua Xia Water Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Hua Xia Water Group's Beneish M-Score falls into.


Hua Xia Water 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 Hua Xia Water 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was HK$34.00 Mil.
Revenue was HK$58.65 Mil.
Gross Profit was HK$9.43 Mil.
Total Current Assets was HK$49.46 Mil.
Total Assets was HK$54.76 Mil.
Property, Plant and Equipment(Net PPE) was HK$1.67 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was HK$18.53 Mil.
Total Current Liabilities was HK$21.83 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.61 Mil.
Net Income was HK$-9.49 Mil.
Gross Profit was HK$0.00 Mil.
Cash Flow from Operations was HK$-21.19 Mil.
 Total Receivables was HK$7.33 Mil.
Revenue was HK$13.16 Mil.
Gross Profit was HK$7.82 Mil.
Total Current Assets was HK$14.04 Mil.
Total Assets was HK$14.30 Mil.
Property, Plant and Equipment(Net PPE) was HK$0.26 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$0.40 Mil.
Selling, General, & Admin. Expense(SGA) was HK$12.75 Mil.
Total Current Liabilities was HK$8.85 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.00 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)
=(34.002 / 58.645) / (7.326 / 13.157)
=0.579794 / 0.556814
=

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)
=(7.818 / 13.157) / (9.428 / 58.645)
=0.594208 / 0.160764
=

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 - (49.464 + 1.667) / 54.756) / (1 - (14.04 + 0.26) / 14.3)
=0.066203 / 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
=58.645 / 13.157
=

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))
=(0.403 / (0.403 + 0.26)) / (0 / (0 + 1.667))
=0.607843 / 0
=

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)
=(18.529 / 58.645) / (12.751 / 13.157)
=0.315952 / 0.969142
=

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)
=((0.614 + 21.832) / 54.756) / ((0 + 8.854) / 14.3)
=0.409928 / 0.619161
=

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
=(-9.485 - 0 - -21.192) / 54.756
=0.213803

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Hua Xia Water Group (HKSE:08401) has a Beneish M-Score of 0.00 as of Aug. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Hua Xia Water Group and its competitors. According to the industry distribution chart, Hua Xia Water Group ranks #999999 out of 970 companies in the Media - Diversified industry.
Is Hua Xia Water Group's Beneish M-Score too high?
Hua Xia Water Group's current Beneish M-Score is 0.00. Based on the distribution chart, Hua Xia Water Group ranks #999999 out of 970 companies in the Media - Diversified industry, which is in the bottom quartile relative to peers.
How does Hua Xia Water Group's Beneish M-Score compare to APP and OMC?
According to the Media - Diversified industry distribution chart, Hua Xia Water Group ranks #999999 out of 970 companies for Beneish M-Score. This places Hua Xia Water 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 Media - Diversified company?
A good Beneish M-Score depends on the Media - Diversified 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 Hua Xia Water Group and its competitors. Hua Xia Water Group's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hua Xia Water Group stock overvalued right now?
Based on GuruFocus' analysis, Hua Xia Water Group (HKSE:08401) is currently considered Possible Value Trap. The stock's GF Value™ is HK$0.20, compared to a current price of HK$0.04 — trading 82% below its estimated fair value. The current Beneish M-Score is 0.00. 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 Hua Xia Water Group (HKSE:08401), the current Beneish M-Score is 0.00 as of Aug. 14, 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.

Hua Xia Water Group Business Description

Address 74 Hung To Road, Unit 402A, 4th Floor, Benson Tower, Kwun Tong, Hong Kong, HKG
Stream Ideas Group Ltd is a Hong Kong-based investment holding company. The company is engaged in the provision of online advertising services. The online advertising services of the company comprise of social viral service, engager service, and mass blogging service. Geographically, the company derives a majority of its revenue from Hong Kong and also has a presence in Taiwan and Southeast Asia.