Dingdang Health Technology Group (HKSE:09886) Beneish M-Score: -2.66 (As of Aug. 27, 2026)

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HKSE:09886 Dingdang Health Technology Group Ltd HKSE:09886
68 GF Score
Price HK$0.82
GF Value HK$1.44
Valuation Possible Value Trap
! 5 Warning Signs
View Full Analysis

What is Dingdang Health Technology Group Beneish M-Score?

Dingdang Health Technology Group HKSE:09886 68 Beneish M-Score is -2.66 as of Aug. 27, 2026. GuruFocus rates HKSE:09886 with a GF Score™ of 68/100 and a GF Value™ of HK$1.44 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 630 Healthcare Providers & Services companies, Dingdang Health Technology Group ranks better than 55.08% 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 -2.66 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HKSE:09886' s Beneish M-Score Range Over the Past 10 Years
Min: -4.92   Med: -3.27   Max: -2.66
Current: -2.66

During the past 8 years, the highest Beneish M-Score of Dingdang Health Technology Group was -2.66. The lowest was -4.92. And the median was -3.27.

Dingdang Health Technology Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Dingdang Health Technology 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.

Dingdang Health Technology Group Beneish M-Score Chart

Dingdang Health Technology Group Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial -4.32 -4.92 -3.15 -3.37 -2.66

Dingdang Health Technology Group Semi-Annual Data
Dec18 Dec19 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 Jun26
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 0.00 -3.37 0.00 -2.66 0.00

HKSE:09886 vs VEEV, BTSG, HQY: Beneish M-Score Comparison

For the Health Information Services subindustry, Dingdang Health Technology 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.

Dingdang Health Technology Group Beneish M-Score vs Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Dingdang Health Technology Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Dingdang Health Technology Group's Beneish M-Score falls into.


HKSE:09886
68GF Score
Dingdang Health Technology Group Ltd HKSE:09886
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Dingdang Health Technology 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 Dingdang Health Technology 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 * 0.8827+0.528 * 0.9344+0.404 * 1.4818+0.892 * 1.0832+0.115 * 1.37
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9783+4.679 * -0.06557-0.327 * 1.1415
=-2.66

* 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$269 Mil.
Revenue was HK$5,400 Mil.
Gross Profit was HK$1,904 Mil.
Total Current Assets was HK$2,360 Mil.
Total Assets was HK$3,131 Mil.
Property, Plant and Equipment(Net PPE) was HK$375 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$155 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1,406 Mil.
Total Current Liabilities was HK$1,035 Mil.
Long-Term Debt & Capital Lease Obligation was HK$227 Mil.
Net Income was HK$-54 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$151 Mil.
 Total Receivables was HK$281 Mil.
Revenue was HK$4,985 Mil.
Gross Profit was HK$1,642 Mil.
Total Current Assets was HK$2,351 Mil.
Total Assets was HK$2,811 Mil.
Property, Plant and Equipment(Net PPE) was HK$220 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$148 Mil.
Selling, General, & Admin. Expense(SGA) was HK$1,327 Mil.
Total Current Liabilities was HK$888 Mil.
Long-Term Debt & Capital Lease Obligation was HK$104 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)
=(269.136 / 5399.65) / (281.496 / 4985.044)
=0.049843 / 0.056468
=0.8827

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)
=(1642.452 / 4985.044) / (1904.008 / 5399.65)
=0.329476 / 0.352617
=0.9344

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 - (2359.675 + 374.504) / 3130.98) / (1 - (2350.601 + 219.828) / 2810.834)
=0.126734 / 0.085528
=1.4818

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
=5399.65 / 4985.044
=1.0832

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))
=(147.683 / (147.683 + 219.828)) / (155.446 / (155.446 + 374.504))
=0.401846 / 0.293322
=1.37

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)
=(1406.244 / 5399.65) / (1327.081 / 4985.044)
=0.260432 / 0.266212
=0.9783

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)
=((226.875 + 1035.298) / 3130.98) / ((104.29 + 888.325) / 2810.834)
=0.403124 / 0.353139
=1.1415

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
=(-54.151 - 0 - 151.147) / 3130.98
=-0.06557

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.

Dingdang Health Technology Group has a M-score of -2.66 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 -2.66 mean?
Dingdang Health Technology Group (HKSE:09886) has a Beneish M-Score of -2.66 as of Aug. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Dingdang Health Technology Group and its competitors. According to the industry distribution chart, Dingdang Health Technology Group ranks #283 out of 630 companies in the Healthcare Providers & Services industry, placing it in the top 44.9%.
Is Dingdang Health Technology Group's Beneish M-Score too high?
Dingdang Health Technology Group's current Beneish M-Score is -2.66. Based on the distribution chart, Dingdang Health Technology Group ranks #283 out of 630 companies in the Healthcare Providers & Services industry, which is above the industry midpoint. Overall, Dingdang Health Technology Group has a GF Score™ of 68/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Dingdang Health Technology Group's Beneish M-Score compare to VEEV and BTSG?
According to the Healthcare Providers & Services industry distribution chart, Dingdang Health Technology Group ranks #283 out of 630 companies for Beneish M-Score. This puts Dingdang Health Technology Group in the upper 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 Healthcare Providers & Services company?
A good Beneish M-Score depends on the Healthcare Providers & Services 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 Dingdang Health Technology Group and its competitors. Dingdang Health Technology Group's current Beneish M-Score is -2.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dingdang Health Technology Group stock overvalued right now?
Based on GuruFocus' analysis, Dingdang Health Technology Group (HKSE:09886) is currently considered Possible Value Trap. The stock's GF Value™ is HK$1.44, compared to a current price of HK$0.82 — trading 43.1% below its estimated fair value. The current Beneish M-Score is -2.66. Dingdang Health Technology Group's overall GF Score™ is 68/100 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 Dingdang Health Technology Group (HKSE:09886), the current Beneish M-Score is -2.66 as of Aug. 27, 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 Dingdang Health Technology Group (HKSE:09886) Overvalued in 2026?

Based on GuruFocus' analysis, Dingdang Health Technology Group stock appears to be undervalued. The current stock price of HK$0.82 is trading 43.1% below its estimated GF Value™ of HK$1.44. GuruFocus considers Dingdang Health Technology Group to be Possible Value Trap.

Key valuation signals for HKSE:09886:

  • Beneish M-Score: -2.66
  • GF Value™: HK$1.44 vs. price of HK$0.82 (43.1% below fair value)
  • GF Score™: 68/100 with 5 warning signs

No single metric tells the full story. See the HKSE:09886 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Dingdang Health Technology Group Business Description

Address Dengshikou Street, Building 1, Yard 50, Dongcheng District, Beijing, CHN
Dingdang Health Technology Group Ltd is an investment holding company and its subsidiaries are principally engaged in the provision of pharmaceutical and healthcare business in the PRC. It is transforming and reshaping China's healthcare industry by pioneering on-demand pharmaceutical retail and medical consultation, with online-to-offline solutions. All of the company's revenue is generated from the PRC.
68GF Score

Get the complete analysis for HKSE:09886

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

HK$0.82
Price
HK$1.44
GF Value