New Amante Group (HKSE:08412) Beneish M-Score: 0.18 (As of Aug. 06, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

HKSE:08412 New Amante Group Ltd HKSE:08412
37 GF Score
Price HK$0.27
GF Value HK$0.22
Valuation Modestly Overvalued
! 7 Warning Signs
View Full Analysis

What is New Amante Group Beneish M-Score?

New Amante Group HKSE:08412 37 Beneish M-Score is 0.18 as of Aug. 06, 2026. GuruFocus rates HKSE:08412 with a GF Score™ of 37/100 and a GF Value™ of HK$0.22 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 358 Restaurants companies, New Amante Group ranks worse than 98.04% 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 0.18 higher than -1.78, which implies that the company might have manipulated its financial results.

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

HKSE:08412' s Beneish M-Score Range Over the Past 10 Years
Min: -9.18   Med: -3.97   Max: 1.02
Current: 0.18

During the past 11 years, the highest Beneish M-Score of New Amante Group was 1.02. The lowest was -9.18. And the median was -3.97.

New Amante Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for New Amante 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.

New Amante Group Beneish M-Score Chart

New Amante Group Annual Data
Trend May16 May17 May18 May19 May20 May21 May22 May23 May24 May25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 -3.52 1.02 -5.38 0.18

New Amante Group Semi-Annual Data
May16 Nov16 May17 Nov17 May18 Nov18 May19 Nov19 May20 Nov20 May21 Nov21 May22 Nov22 May23 Nov23 May24 Nov24 May25 Nov25
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 0.00 -5.38 0.00 0.18 0.00

HKSE:08412 vs MCD, SBUX, YUM: Beneish M-Score Comparison

For the Restaurants subindustry, New Amante 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.

New Amante Group Beneish M-Score vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, New Amante Group's Beneish M-Score distribution charts can be found below:

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


HKSE:08412
37GF Score
New Amante Group Ltd HKSE:08412
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

New Amante 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 New Amante 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 * 2.4217+0.528 * 4.3407+0.404 * 0.7294+0.892 * 0.4352+0.115 * 0.7561
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.2437+4.679 * 0.006867-0.327 * 0.7985
=0.18

* 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 (May25) TTM:Last Year (May24) TTM:
Total Receivables was HK$1.80 Mil.
Revenue was HK$38.84 Mil.
Gross Profit was HK$4.16 Mil.
Total Current Assets was HK$27.28 Mil.
Total Assets was HK$31.60 Mil.
Property, Plant and Equipment(Net PPE) was HK$3.21 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$8.96 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1.55 Mil.
Total Current Liabilities was HK$25.72 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.00 Mil.
Net Income was HK$-4.88 Mil.
Gross Profit was HK$0.00 Mil.
Cash Flow from Operations was HK$-5.10 Mil.
 Total Receivables was HK$1.71 Mil.
Revenue was HK$89.25 Mil.
Gross Profit was HK$41.48 Mil.
Total Current Assets was HK$32.30 Mil.
Total Assets was HK$50.47 Mil.
Property, Plant and Equipment(Net PPE) was HK$15.73 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$19.77 Mil.
Selling, General, & Admin. Expense(SGA) was HK$14.65 Mil.
Total Current Liabilities was HK$47.55 Mil.
Long-Term Debt & Capital Lease Obligation was HK$3.89 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)
=(1.8 / 38.838) / (1.708 / 89.245)
=0.046346 / 0.019138
=2.4217

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)
=(41.484 / 89.245) / (4.159 / 38.838)
=0.464833 / 0.107086
=4.3407

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 - (27.281 + 3.206) / 31.599) / (1 - (32.304 + 15.734) / 50.473)
=0.035191 / 0.048244
=0.7294

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
=38.838 / 89.245
=0.4352

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))
=(19.774 / (19.774 + 15.734)) / (8.964 / (8.964 + 3.206))
=0.556889 / 0.736565
=0.7561

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)
=(1.554 / 38.838) / (14.65 / 89.245)
=0.040012 / 0.164155
=0.2437

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 + 25.719) / 31.599) / ((3.893 + 47.552) / 50.473)
=0.813918 / 1.019258
=0.7985

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
=(-4.882 - 0 - -5.099) / 31.599
=0.006867

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.

New Amante Group has a M-score of 0.18 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 0.18 mean?
New Amante Group (HKSE:08412) has a Beneish M-Score of 0.18 as of Aug. 06, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on New Amante Group and its competitors. According to the industry distribution chart, New Amante Group ranks #351 out of 358 companies in the Restaurants industry, placing it in the top 98%.
Is New Amante Group's Beneish M-Score too high?
New Amante Group's current Beneish M-Score is 0.18. Based on the distribution chart, New Amante Group ranks #351 out of 358 companies in the Restaurants industry, which is in the bottom quartile relative to peers. Overall, New Amante Group has a GF Score™ of 37/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does New Amante Group's Beneish M-Score compare to MCD and SBUX?
According to the Restaurants industry distribution chart, New Amante Group ranks #351 out of 358 companies for Beneish M-Score. This places New Amante 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 Restaurants company?
A good Beneish M-Score depends on the Restaurants 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 New Amante Group and its competitors. New Amante Group's current Beneish M-Score is 0.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is New Amante Group stock overvalued right now?
Based on GuruFocus' analysis, New Amante Group (HKSE:08412) is currently considered Modestly Overvalued. The stock's GF Value™ is HK$0.22, compared to a current price of HK$0.27 — trading 20.5% above its estimated fair value. The current Beneish M-Score is 0.18. New Amante Group's overall GF Score™ is 37/100 with 7 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 New Amante Group (HKSE:08412), the current Beneish M-Score is 0.18 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.

Is New Amante Group (HKSE:08412) Overvalued in 2026?

Based on GuruFocus' analysis, New Amante Group stock appears to be overvalued. The current stock price of HK$0.27 is trading 20.5% above its estimated GF Value™ of HK$0.22. GuruFocus considers New Amante Group to be Modestly Overvalued.

Key valuation signals for HKSE:08412:

  • Beneish M-Score: 0.18
  • GF Value™: HK$0.22 vs. price of HK$0.27 (20.5% above fair value)
  • GF Score™: 37/100 with 7 warning signs

No single metric tells the full story. See the HKSE:08412 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

New Amante Group Business Description

Address 60 Gloucester Road, 25th Floor, China Huarong Tower, Wanchai, Hong Kong, HKG
New Amante Group Ltd is an investment holding company with subsidiaries that are mainly engaged in operating clubs, entertainment venues, and securities investments in Hong Kong. The company is mainly involved in two operating segments: the club and entertainment business, and securities investment. It generates its main revenue from the club and entertainment business segment. It generates the majority of its revenue from Hong Kong.
37GF Score

Get the complete analysis for HKSE:08412

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

HK$0.27
Price
HK$0.22
GF Value