Basic Semiconductor Co (HKSE:09971) Beneish M-Score: -3.92 (As of Sep. 10, 2026)

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HKSE:09971 Basic Semiconductor Co Ltd HKSE:09971
7 GF Score
Price HK$41.58
! 2 Warning Signs
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What is Basic Semiconductor Co Beneish M-Score?

Basic Semiconductor Co HKSE:09971 -2.39% 7 Beneish M-Score is -3.92 as of Sep. 10, 2026. GuruFocus rates HKSE:09971 with a GF Score™ of 7/100. The stock has 2 warning signs investors should review. Among 1,004 Semiconductors companies, Basic Semiconductor Co ranks better than 95.82% 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 -3.92 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Basic Semiconductor Co's Beneish M-Score or its related term are showing as below:

HKSE:09971' s Beneish M-Score Range Over the Past 10 Years
Min: -3.92   Med: -3.92   Max: -3.92
Current: -3.92

During the past 3 years, the highest Beneish M-Score of Basic Semiconductor Co was -3.92. The lowest was -3.92. And the median was -3.92.

Basic Semiconductor Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Basic Semiconductor 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.

Basic Semiconductor Co Beneish M-Score Chart

Basic Semiconductor Co Annual Data
Trend Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -3.92

Basic Semiconductor Co Semi-Annual Data
Dec23 Dec24 Dec25
Beneish M-Score 0.00 0.00 -3.92

HKSE:09971 vs NVDA, AVGO, MU: Beneish M-Score Comparison

For the Semiconductors subindustry, Basic Semiconductor 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.

Basic Semiconductor Co Beneish M-Score vs Semiconductors Industry

For the Semiconductors industry and Technology sector, Basic Semiconductor Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Basic Semiconductor Co's Beneish M-Score falls into.


HKSE:09971
7GF Score
Basic Semiconductor Co Ltd HKSE:09971
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Basic Semiconductor 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 Basic Semiconductor 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 * 1.0555+0.528 * 0.8907+0.404 * 0.1881+0.892 * 1.0767+0.115 * 0.7327
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.6962+4.679 * -0.220474-0.327 * 0.9825
=-3.92

* 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$204.0 Mil.
Revenue was HK$343.8 Mil.
Gross Profit was HK$-37.4 Mil.
Total Current Assets was HK$466.3 Mil.
Total Assets was HK$1,120.9 Mil.
Property, Plant and Equipment(Net PPE) was HK$645.5 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$81.6 Mil.
Selling, General, & Admin. Expense(SGA) was HK$51.3 Mil.
Total Current Liabilities was HK$774.4 Mil.
Long-Term Debt & Capital Lease Obligation was HK$51.6 Mil.
Net Income was HK$-370.3 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$-123.2 Mil.
 Total Receivables was HK$179.5 Mil.
Revenue was HK$319.3 Mil.
Gross Profit was HK$-30.9 Mil.
Total Current Assets was HK$366.9 Mil.
Total Assets was HK$1,005.6 Mil.
Property, Plant and Equipment(Net PPE) was HK$594.8 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$53.3 Mil.
Selling, General, & Admin. Expense(SGA) was HK$28.1 Mil.
Total Current Liabilities was HK$680.7 Mil.
Long-Term Debt & Capital Lease Obligation was HK$73.5 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)
=(203.962 / 343.752) / (179.47 / 319.25)
=0.593341 / 0.562161
=1.0555

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)
=(-30.942 / 319.25) / (-37.406 / 343.752)
=-0.096921 / -0.108817
=0.8907

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 - (466.291 + 645.463) / 1120.946) / (1 - (366.9 + 594.849) / 1005.585)
=0.0082 / 0.043593
=0.1881

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
=343.752 / 319.25
=1.0767

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))
=(53.325 / (53.325 + 594.849)) / (81.637 / (81.637 + 645.463))
=0.08227 / 0.112278
=0.7327

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)
=(51.253 / 343.752) / (28.062 / 319.25)
=0.149099 / 0.0879
=1.6962

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)
=((51.56 + 774.401) / 1120.946) / ((73.476 + 680.673) / 1005.585)
=0.736843 / 0.74996
=0.9825

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
=(-370.323 - 0 - -123.183) / 1120.946
=-0.220474

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.

Basic Semiconductor Co has a M-score of -3.92 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 -3.92 mean?
Basic Semiconductor Co (HKSE:09971) has a Beneish M-Score of -3.92 as of Sep. 10, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Basic Semiconductor Co and its competitors. According to the industry distribution chart, Basic Semiconductor Co ranks #42 out of 1004 companies in the Semiconductors industry, placing it in the top 4.2%.
Is Basic Semiconductor Co's Beneish M-Score too high?
Basic Semiconductor Co's current Beneish M-Score is -3.92. Based on the distribution chart, Basic Semiconductor Co ranks #42 out of 1004 companies in the Semiconductors industry, which is in the top quartile — a strong position relative to peers. Overall, Basic Semiconductor Co has a GF Score™ of 7/100, reflecting its overall financial health beyond just this single metric.
How does Basic Semiconductor Co's Beneish M-Score compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, Basic Semiconductor Co ranks #42 out of 1004 companies for Beneish M-Score. This places Basic Semiconductor Co in the top 4% 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 Semiconductors company?
A good Beneish M-Score depends on the Semiconductors 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 Basic Semiconductor Co and its competitors. Basic Semiconductor Co's current Beneish M-Score is -3.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Basic Semiconductor Co stock overvalued right now?
Basic Semiconductor Co (HKSE:09971) has a current Beneish M-Score of -3.92. The current Beneish M-Score is -3.92. Basic Semiconductor Co's overall GF Score™ is 7/100 with 2 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 Basic Semiconductor Co (HKSE:09971), the current Beneish M-Score is -3.92 as of Sep. 10, 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.

Basic Semiconductor Co Business Description

Address Gaoxin South 7th Road, 11th Floor, Block B, National Engineering Laboratory Building, Nanshan District, Shenzhen, CHN
Basic Semiconductor Co Ltd operates in the semiconductor power device industry, specializing in the research, development, manufacturing and sales of SiC power devices. The core business includes SiC chip design, wafer fabrication, module packaging, and gate driver design and testing. Its products serve a wide range of industries, including NEVs, renewable energy systems, energy storage systems, industrial control, data and server centers and rail transportations. The majority of the company's revenue is derived from the sales of SiC power modules in Mainland China.
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