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Kiwa Bio-Tech Products Group Beneish M-Score

: 0.00 (As of Today)
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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 Kiwa Bio-Tech Products Group's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Kiwa Bio-Tech Products Group was 0.00. The lowest was 0.00. And the median was 0.00.


Kiwa Bio-Tech Products Group Beneish M-Score Historical Data

The historical data trend for Kiwa Bio-Tech Products 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.

* Premium members only.

Kiwa Bio-Tech Products Group Annual Data
Trend Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19
Beneish M-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - -0.52 118.05 -3.22

Kiwa Bio-Tech Products Group Quarterly Data
Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19
Beneish M-Score 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 Premium Member Only Premium Member Only Premium Member Only 118.05 223.31 -1.70 -2.93 -3.22

Competitive Comparison

For the Agricultural Inputs subindustry, Kiwa Bio-Tech Products 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.

   

Kiwa Bio-Tech Products Group Beneish M-Score Distribution

For the Agriculture industry and Basic Materials sector, Kiwa Bio-Tech Products Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Kiwa Bio-Tech Products Group's Beneish M-Score falls into.



Kiwa Bio-Tech Products 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 Kiwa Bio-Tech Products 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+0.528 * 1.1575+0.404 * 2.1263+0.892 * 1.3077+0.115 * 0.6735
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.6275+4.679 * -0.1431-0.327 * 0.982
=-3.22

* 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 (Dec19) TTM:Last Year (Dec18) TTM:
Accounts Receivable was $0.00 Mil.
Revenue was 8.635 + 10.986 + 10.925 + 9.543 = $40.09 Mil.
Gross Profit was 1.406 + 2.577 + 3.172 + 2.176 = $9.33 Mil.
Total Current Assets was $22.84 Mil.
Total Assets was $24.07 Mil.
Property, Plant and Equipment(Net PPE) was $0.09 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.05 Mil.
Selling, General, & Admin. Expense(SGA) was $4.55 Mil.
Total Current Liabilities was $14.25 Mil.
Long-Term Debt & Capital Lease Obligation was $0.13 Mil.
Net Income was -5.091 + 0.311 + -2.246 + 0.391 = $-6.64 Mil.
Non Operating Income was -3.539 + 0.083 + 0.047 + 0.036 = $-3.37 Mil.
Cash Flow from Operations was -0.122 + 1.836 + -0.991 + -0.54 = $0.18 Mil.
Accounts Receivable was $6.75 Mil.
Revenue was 8.839 + 7.726 + 5.335 + 8.755 = $30.66 Mil.
Gross Profit was 2.079 + 2.273 + 1.461 + 2.446 = $8.26 Mil.
Total Current Assets was $31.69 Mil.
Total Assets was $32.51 Mil.
Property, Plant and Equipment(Net PPE) was $0.09 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.03 Mil.
Selling, General, & Admin. Expense(SGA) was $5.55 Mil.
Total Current Liabilities was $19.79 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Accounts Receivable 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 / 40.089) / (6.751 / 30.655)
=0 / 0.22022509
=0

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)
=(8.259 / 30.655) / (9.331 / 40.089)
=0.26941771 / 0.23275712
=1.1575

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 - (22.835 + 0.088) / 24.069) / (1 - (31.69 + 0.093) / 32.511)
=0.04761311 / 0.02239242
=2.1263

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
=40.089 / 30.655
=1.3077

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))
=(0.029 / (0.029 + 0.093)) / (0.048 / (0.048 + 0.088))
=0.23770492 / 0.35294118
=0.6735

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)
=(4.552 / 40.089) / (5.547 / 30.655)
=0.11354736 / 0.18094927
=0.6275

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)
=((0.13 + 14.254) / 24.069) / ((0 + 19.785) / 32.511)
=0.59761519 / 0.60856326
=0.982

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
=(-6.635 - -3.373 - 0.183) / 24.069
=-0.1431

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.

Kiwa Bio-Tech Products Group has a M-score of -3.22 suggests that the company is unlikely to be a manipulator.


Kiwa Bio-Tech Products Group Beneish M-Score Related Terms

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Kiwa Bio-Tech Products Group Business Description

Kiwa Bio-Tech Products Group logo
Industry
Basic Materials » Agriculture NAICS : 325314 SIC : 2875
Traded in Other Exchanges
N/A
Address
3200 Guasti Road, Suite 100, Ontario, CA, USA, 91761
Kiwa Bio-Tech Products Group Corp develops, manufactures, distributes and markets, cost-effective, and environmentally safe bio-technological products for agriculture. Its products are designed to enhance the quality of human life by increasing the value, quality, and productivity of crops and decreasing the negative environmental impact of chemicals and other wastes. Its products include Biological Organic Fertilizer, Compound Microbial Fertilizer, Bio-Water Soluble Fertilizer, Microbial Inoculum Fertilizer, and others. Some of the company's products contain ingredients of both photosynthesis and bacillus bacteria.
Executives
Li Wei 10 percent owner C/O 177000 CASTLETON SE STE 589 INDUSTRY CA 91748
Wang Yvonne officer: Chief Executive Officer 415 W FOOTHILL BOULEVARD SUITE 206 CLAREMONT CA 91711
Ma Steven Ning officer: Chief Financial Officer / COO ROOM 402, 36 LANE 380 TIANYAOGIAO ROAD SHANGHAI F4 00000
Ma Xin officer: Vice President 3-1-5 ZHEN WU MIAO YI LI XICHENG DISTRICT BEIJING F4 00000
Wen Bin Li officer: Vice President of Marketing 415 W FOOTHILL BOULEVARD #206 CLAREMONT CA 91711
Wu Xiao Nan officer: Vice President 415 W FOOTHILL BOULEVARD SUITE 206 CLAREMONT CA 91711
Wang Qi officer: Vice President- Technical 415 W FOOTHILL BOULEVARD SUITE 206 CLAREMONT CA 91711
Wang Juhua officer: Chief Operation Officer 415 W FOOTHILL BOULEVARD 206 CLAREMONT CA 91711
Zhang Yun Long director C/O 17700 CASTLETON ST STE 589 CITY OF INDUSTRY CA 91748
Luo Lian Jun director, officer: Cheif Financial Officer C/O 17700 CASTLETON ST STE 589 CITY OF INDUSTRY CA 91748
Lau Johnson Shun Pong officer: Chief Operating Officer NO. 1 YANTAI THIRD ROAD, CENTRALISM AREA HAPING RD. HARBIN ECONOMIC TECH. DEV. HARBIN, HEILONGJIANG PROVINCE F4 150060
Ju Da Chang director, 10 percent owner 17700 CASTLETON ST STE 589 CITY OF INDUSTRY CA 91748
Investlink China Ltd 10 percent owner C/O 17700 CASTLETON ST STE 589 CITY OF INDUSTRY CA 91748
Coltharp Hugh N other: Former Sec/Trea. and Director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: COLTHARP HUGH N a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
Coombs Jack R other: Former Vice Pres and Director PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> Ownership Information: COOMBS JACK R a.header:link {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:visited {color: #3b4fae; font-weight: bold; text-decoration: underline;} a.header:hover {color: #191970;}
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