Nanjing Leads Biolabs Co (HKSE:09887) Beneish M-Score: 0.00 (As of Aug. 25, 2026)

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HKSE:09887 Nanjing Leads Biolabs Co Ltd HKSE:09887
10 GF Score
Price HK$74.60
! 1 Warning Sign
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What is Nanjing Leads Biolabs Co Beneish M-Score?

Nanjing Leads Biolabs Co HKSE:09887 +8.04% 10 Beneish M-Score is 0.00 as of Aug. 25, 2026. GuruFocus rates HKSE:09887 with a GF Score™ of 10/100. The stock has 1 warning sign investors should review. Among 829 Biotechnology companies, Nanjing Leads Biolabs Co ranks worse than 120627.14% 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 Nanjing Leads Biolabs Co's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of Nanjing Leads Biolabs Co was 0.00. The lowest was 0.00. And the median was 0.00.

Nanjing Leads Biolabs Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Nanjing Leads Biolabs 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.

Nanjing Leads Biolabs Co Beneish M-Score Chart

Nanjing Leads Biolabs Co Annual Data
Trend Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00

Nanjing Leads Biolabs Co Semi-Annual Data
Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score 0.00 0.00 0.00 0.00 0.00

HKSE:09887 vs VRTX, REGN, RVMD: Beneish M-Score Comparison

For the Biotechnology subindustry, Nanjing Leads Biolabs 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.

Nanjing Leads Biolabs Co Beneish M-Score vs Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Nanjing Leads Biolabs Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Nanjing Leads Biolabs Co's Beneish M-Score falls into.


HKSE:09887
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Nanjing Leads Biolabs Co Ltd HKSE:09887
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Nanjing Leads Biolabs 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 Nanjing Leads Biolabs 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 * +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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was HK$0.3 Mil.
Revenue was HK$195.8 Mil.
Gross Profit was HK$195.8 Mil.
Total Current Assets was HK$1,867.2 Mil.
Total Assets was HK$1,968.0 Mil.
Property, Plant and Equipment(Net PPE) was HK$54.1 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$23.4 Mil.
Selling, General, & Admin. Expense(SGA) was HK$43.0 Mil.
Total Current Liabilities was HK$554.8 Mil.
Long-Term Debt & Capital Lease Obligation was HK$14.8 Mil.
Net Income was HK$-233.6 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$-170.6 Mil.
 Total Receivables was HK$0.2 Mil.
Revenue was HK$0.0 Mil.
Gross Profit was HK$0.0 Mil.
Total Current Assets was HK$636.7 Mil.
Total Assets was HK$714.7 Mil.
Property, Plant and Equipment(Net PPE) was HK$50.8 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$27.8 Mil.
Selling, General, & Admin. Expense(SGA) was HK$24.3 Mil.
Total Current Liabilities was HK$425.3 Mil.
Long-Term Debt & Capital Lease Obligation was HK$5.9 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)
=(0.33 / 195.818) / (0.204 / 0)
=0.001685 /
=

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)
=(0 / 0) / (195.818 / 195.818)
= / 1
=

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 - (1867.236 + 54.148) / 1967.978) / (1 - (636.66 + 50.786) / 714.746)
=0.023676 / 0.038195
=

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
=195.818 / 0
=

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))
=(27.804 / (27.804 + 50.786)) / (23.43 / (23.43 + 54.148))
=0.353785 / 0.302019
=

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)
=(42.999 / 195.818) / (24.33 / 0)
=0.219587 /
=

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)
=((14.804 + 554.797) / 1967.978) / ((5.922 + 425.292) / 714.746)
=0.289435 / 0.603311
=

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
=(-233.56 - 0 - -170.599) / 1967.978
=-0.031993

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?
Nanjing Leads Biolabs Co (HKSE:09887) has a Beneish M-Score of 0.00 as of Aug. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Nanjing Leads Biolabs Co and its competitors. According to the industry distribution chart, Nanjing Leads Biolabs Co ranks #999999 out of 829 companies in the Biotechnology industry.
Is Nanjing Leads Biolabs Co's Beneish M-Score too high?
Nanjing Leads Biolabs Co's current Beneish M-Score is 0.00. Based on the distribution chart, Nanjing Leads Biolabs Co ranks #999999 out of 829 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, Nanjing Leads Biolabs Co has a GF Score™ of 10/100, reflecting its overall financial health beyond just this single metric.
How does Nanjing Leads Biolabs Co's Beneish M-Score compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Nanjing Leads Biolabs Co ranks #999999 out of 829 companies for Beneish M-Score. This places Nanjing Leads Biolabs 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 Biotechnology company?
A good Beneish M-Score depends on the Biotechnology 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 Nanjing Leads Biolabs Co and its competitors. Nanjing Leads Biolabs Co'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 Nanjing Leads Biolabs Co stock overvalued right now?
Nanjing Leads Biolabs Co (HKSE:09887) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Nanjing Leads Biolabs Co's overall GF Score™ is 10/100 with 1 warning sign 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 Nanjing Leads Biolabs Co (HKSE:09887), the current Beneish M-Score is 0.00 as of Aug. 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.

Nanjing Leads Biolabs Co Business Description

Other Exchanges 0DX:Germany
Address Jialingjiang Street, 18E, Floor 8, Building 03, Jiangsu Province, Nanjing, CHN, 210019
Nanjing Leads Biolabs Co Ltd is a clinical-stage biotechnology company focused on the discovery, development, and commercialization of new therapies in oncology, autoimmune, and other severe diseases. The Group uses its science-driven R&D approach and three proprietary technology platforms: X-body (4-1BB Engager), LeadsBody (CD3 T Cell Engager), and TOPiKinectics (ADC), for its multi-modal, differentiated pipeline in oncology and autoimmune diseases. It has approximately fourteen drug candidates across oncology and autoimmune diseases. Among these, one core product (LBL-024, a pivotal-stage PD-L1 and 4-1BB dual-targeting bispecific antibody) is being evaluated in several cancer indications and across various Proof-of-Concept (POC) studies. The Group generates maximum revenue from the USA.
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HK$74.60
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