Fuxing China GroupSGX:AWK +10.00%38 Beneish M-Score is -3.00 as of Jun. 29, 2026. GuruFocus rates SGX:AWK with a GF Score™ of 38/100 and a GF Value™ of S$0.26 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 1,001 Manufacturing - Apparel & Accessories companies, Fuxing China Group ranks better than 81.72% 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 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Fuxing China Group's Beneish M-Score or its related term are showing as below:
SGX:AWK'
s Beneish M-Score Range Over the Past 10 Years
Min: -3 Med: -2.71 Max: -2.21
Current: -3
During the past 13 years, the highest Beneish M-Score of Fuxing China Group was -2.21. The lowest was -3.00. And the median was -2.71.
Fuxing China Group Beneish M-Score Related Terms
Fuxing China Group Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Fuxing China 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.
SGX:AWK vs RL, LEVI, VFC: Beneish M-Score Comparison
For the Apparel Manufacturing subindustry, Fuxing China 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.
Fuxing China Group Beneish M-Score vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Fuxing China Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Fuxing China Group's Beneish M-Score falls into.
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 Fuxing China 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 * 0.9433
+
0.528 * 0.8449
+
0.404 * 0.9153
+
0.892 * 0.9027
+
0.115 * 0.8831
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0743
+
4.679 * -0.067397
-
0.327 * 0.772
=
-3.00
* 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.
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.
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))
=
(7.677 / (7.677 + 50.078))
/
(7.423 / (7.423 + 41.89))
=
0.132924
/
0.150528
=
0.8831
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
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
=
(3.711 - 0
-
13.959)
/
152.055
=
-0.067397
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.
Fuxing China Group has a M-score of -3.00 suggests that the company is unlikely to be a manipulator.
Fuxing China Group (SGX:AWK) has a Beneish M-Score of -3.00 as of Jun. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Fuxing China Group and its competitors. According to the industry distribution chart, Fuxing China Group ranks #183 out of 1001 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 18.3%.
Is Fuxing China Group's Beneish M-Score too high?
Fuxing China Group's current Beneish M-Score is -3.00. Based on the distribution chart, Fuxing China Group ranks #183 out of 1001 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, Fuxing China Group has a GF Score™ of 38/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Fuxing China Group's Beneish M-Score compare to RL and LEVI?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Fuxing China Group ranks #183 out of 1001 companies for Beneish M-Score. This places Fuxing China Group in the top 18% 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 Manufacturing - Apparel & Accessories company?
A good Beneish M-Score depends on the Manufacturing - Apparel & Accessories 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 Fuxing China Group and its competitors. Fuxing China Group's current Beneish M-Score is -3.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fuxing China Group stock overvalued right now?
Based on GuruFocus' analysis, Fuxing China Group (SGX:AWK) is currently considered Significantly Overvalued. The stock's GF Value™ is S$0.26, compared to a current price of S$0.99 — trading 280.8% above its estimated fair value. The current Beneish M-Score is -3.00. Fuxing China Group's overall GF Score™ is 38/100 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 Fuxing China Group (SGX:AWK), the current Beneish M-Score is -3.00 as of Jun. 29, 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 Fuxing China Group (SGX:AWK) Overvalued in 2026?
Based on GuruFocus' analysis, Fuxing China Group stock appears to be overvalued.
The current stock price of S$0.99 is trading 280.8% above its estimated GF Value™ of S$0.26.
GuruFocus considers Fuxing China Group to be Significantly Overvalued.
Key valuation signals for SGX:AWK:
Beneish M-Score: -3.00
GF Value™: S$0.26 vs. price of S$0.99 (280.8% above fair value)
No single metric tells the full story. See the SGX:AWK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fuxing China Group Ltd is an investment holding company. Through its subsidiary group is engaged in the production and sale of zipper sliders and zipper chains, provision of colour dyeing of fabric tapes for zippers, electroplating services for zipper sliders, and manufacturing and sales of dyed yarn. The Group is also engaged in the trading of raw materials in Hong Kong. It has four segments: Sales of zipper chains and zipper sliders, Trading of textile raw and auxiliary materials, Zipper processing services, and Corporate. The group generates the majority of its revenue from Sales of zipper chains and zipper sliders, which include zipper chains consisting of two strips of fabric tapes, with parallel rows of specially shaped nylon, metal, or plastic teeth, and Others.
38GF Score
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