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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.
Warning Sign:
Beneish M-Score -1.44 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Anhui Gujing Distillery Co's Beneish M-Score or its related term are showing as below:
SZSE:000596'
s Beneish M-Score Range Over the Past 10 Years
Min: -4.04 Med: -2.33 Max: -0.87
Current: -1.44
During the past 13 years, the highest Beneish M-Score of Anhui Gujing Distillery Co was -0.87. The lowest was -4.04. And the median was -2.33.
* 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.
For the Beverages - Wineries & Distilleries subindustry, Anhui Gujing Distillery 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.
Anhui Gujing Distillery Co Beneish M-Score vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Anhui Gujing Distillery Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Anhui Gujing Distillery Co's Beneish M-Score falls into.
Anhui Gujing Distillery 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 Anhui Gujing Distillery 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 * 2.226
+
0.528 * 1.0023
+
0.404 * 0.8969
+
0.892 * 0.6377
+
0.115 * 1
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.2935
+
4.679 * 0.070677
-
0.327 * 1.021
=
-1.44
* 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))
=
(0 / (0 + 9223.545))
/
(0 / (0 + 9192.44))
=
0
/
0
=
1
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
=
(2051.902 - 0
-
-664.805)
/
38438.419
=
0.070677
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.
Anhui Gujing Distillery Co has a M-score of -1.44 signals that the company is likely to be a manipulator.
Anhui Gujing Distillery Co (SZSE:000596) has a Beneish M-Score of -1.44 as of Sep. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Anhui Gujing Distillery Co and its competitors. According to the industry distribution chart, Anhui Gujing Distillery Co ranks #80 out of 201 companies in the Beverages - Alcoholic industry, placing it in the top 39.8%.
Is Anhui Gujing Distillery Co's Beneish M-Score too high?
Anhui Gujing Distillery Co's current Beneish M-Score is -1.44. Based on the distribution chart, Anhui Gujing Distillery Co ranks #80 out of 201 companies in the Beverages - Alcoholic industry, which is above the industry midpoint. Overall, Anhui Gujing Distillery Co has a GF Score™ of 90/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Anhui Gujing Distillery Co's Beneish M-Score compare to BF.B?
According to the Beverages - Alcoholic industry distribution chart, Anhui Gujing Distillery Co ranks #80 out of 201 companies for Beneish M-Score. This puts Anhui Gujing Distillery Co 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 Beverages - Alcoholic company?
A good Beneish M-Score depends on the Beverages - Alcoholic 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 Anhui Gujing Distillery Co and its competitors. Anhui Gujing Distillery Co's current Beneish M-Score is -1.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Anhui Gujing Distillery Co stock overvalued right now?
Based on GuruFocus' analysis, Anhui Gujing Distillery Co (SZSE:000596) is currently considered Modestly Undervalued. The stock's GF Value™ is ¥118.09, compared to a current price of ¥100.88 — trading 14.6% below its estimated fair value. The current Beneish M-Score is -1.44. Anhui Gujing Distillery Co's overall GF Score™ is 90/100 with 8 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 Anhui Gujing Distillery Co (SZSE:000596), the current Beneish M-Score is -1.44 as of Sep. 01, 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 Anhui Gujing Distillery Co (SZSE:000596) Overvalued in 2026?
Based on GuruFocus' analysis, Anhui Gujing Distillery Co stock appears to be undervalued.
The current stock price of ¥100.88 is trading 14.6% below its estimated GF Value™ of ¥118.09.
GuruFocus considers Anhui Gujing Distillery Co to be Modestly Undervalued.
Key valuation signals for SZSE:000596:
Beneish M-Score: -1.44
GF Value™: ¥118.09 vs. price of ¥100.88 (14.6% below fair value)
No single metric tells the full story. See the SZSE:000596 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Anhui Gujing is one of the eight most famous baijiu brands in China and the largest baijiu distiller in Anhui province by sales in 2025. The company produces rich-flavored baijiu, with a colorful brand story tracing back 1,800 years to the Three Kingdoms period. Gujing is one of the leading players in the midrange to high-end market and enjoys high retail prices and profit margins, with its flagship Gujing Year Puree series contributing 78% of total sales in 2025. The State-Owned Assets Supervision and Administration Commission of Bozhou controls 28% of Gujing.
90GF Score
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