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Anhui Zhongding Sealing Parts Co (SZSE:000887) Beneish M-Score : -2.64 (As of Apr. 23, 2025)


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What is Anhui Zhongding Sealing Parts Co Beneish M-Score?

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 -2.64 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Anhui Zhongding Sealing Parts Co's Beneish M-Score or its related term are showing as below:

SZSE:000887' s Beneish M-Score Range Over the Past 10 Years
Min: -3.68   Med: -2.4   Max: 0.53
Current: -2.64

During the past 13 years, the highest Beneish M-Score of Anhui Zhongding Sealing Parts Co was 0.53. The lowest was -3.68. And the median was -2.40.


Anhui Zhongding Sealing Parts Co Beneish M-Score Historical Data

The historical data trend for Anhui Zhongding Sealing Parts 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.

* Premium members only.

Anhui Zhongding Sealing Parts Co Beneish M-Score Chart

Anhui Zhongding Sealing Parts Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.71 -2.55 -3.21 -2.25 -2.42

Anhui Zhongding Sealing Parts Co Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Beneish M-Score Get a 7-Day Free Trial 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 -2.28 -2.42 -2.51 -2.57 -2.64

Competitive Comparison of Anhui Zhongding Sealing Parts Co's Beneish M-Score

For the Auto Parts subindustry, Anhui Zhongding Sealing Parts 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 Zhongding Sealing Parts Co's Beneish M-Score Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Anhui Zhongding Sealing Parts Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Anhui Zhongding Sealing Parts Co's Beneish M-Score falls into.


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Anhui Zhongding Sealing Parts 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 Zhongding Sealing Parts 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 * 0.9624+0.528 * 0.9213+0.404 * 0.9238+0.892 * 1.0882+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9885+4.679 * -0.030085-0.327 * 0.9911
=-2.64

* 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 (Sep24) TTM:Last Year (Sep23) TTM:
Total Receivables was ¥5,674 Mil.
Revenue was 4826.047 + 4976.997 + 4692.198 + 4470.349 = ¥18,966 Mil.
Gross Profit was 1083.624 + 1097.383 + 1051.943 + 1041.688 = ¥4,275 Mil.
Total Current Assets was ¥14,149 Mil.
Total Assets was ¥24,026 Mil.
Property, Plant and Equipment(Net PPE) was ¥5,661 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥710 Mil.
Total Current Liabilities was ¥7,794 Mil.
Long-Term Debt & Capital Lease Obligation was ¥2,864 Mil.
Net Income was 335.679 + 355.298 + 360.935 + 255.621 = ¥1,308 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was 528.94 + 391.421 + 322.482 + 787.506 = ¥2,030 Mil.
Total Receivables was ¥5,418 Mil.
Revenue was 4585.493 + 4329.206 + 3859.401 + 4654.353 = ¥17,428 Mil.
Gross Profit was 1010.408 + 930.771 + 802.923 + 875.015 = ¥3,619 Mil.
Total Current Assets was ¥12,757 Mil.
Total Assets was ¥22,484 Mil.
Property, Plant and Equipment(Net PPE) was ¥5,456 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥660 Mil.
Total Current Liabilities was ¥7,129 Mil.
Long-Term Debt & Capital Lease Obligation was ¥2,934 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)
=(5673.71 / 18965.591) / (5417.829 / 17428.453)
=0.299158 / 0.310861
=0.9624

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)
=(3619.117 / 17428.453) / (4274.638 / 18965.591)
=0.207656 / 0.225389
=0.9213

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 - (14148.727 + 5661.046) / 24025.812) / (1 - (12757.228 + 5456.175) / 22484.412)
=0.17548 / 0.189954
=0.9238

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
=18965.591 / 17428.453
=1.0882

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 / (0 + 5456.175)) / (0 / (0 + 5661.046))
=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

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)
=(710.071 / 18965.591) / (660.124 / 17428.453)
=0.03744 / 0.037876
=0.9885

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)
=((2863.531 + 7793.953) / 24025.812) / ((2934.268 + 7129.119) / 22484.412)
=0.443585 / 0.447572
=0.9911

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
=(1307.533 - 0 - 2030.349) / 24025.812
=-0.030085

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 Zhongding Sealing Parts Co has a M-score of -2.64 suggests that the company is unlikely to be a manipulator.


Anhui Zhongding Sealing Parts Co Beneish M-Score Related Terms

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Anhui Zhongding Sealing Parts Co Business Description

Traded in Other Exchanges
N/A
Address
Economic and Technological Development Zone, Anhui, Ningguo, CHN, 242300
Anhui Zhongding Sealing Parts Co Ltd focuses primarily on industrial and automotive parts production. The company's portfolio includes a wide range of industries, from rubber and plastic products manufacturing to machinery and mold manufacturing, automotive tools, information technology, environmental protection materials, eco-friendly engines and various high-quality industrial products. Some of Zhongding Group's key products include Dinghu rubber seals and special rubber products, which are widely used and trusted in the automotive, construction machinery, petrochemical processing, office automation, railway, and shipping industries.
Executives
Gao Sheng Qing Executives
Pan Jin Jun Supervisors
Yi Shan Bing Executives
Fang Bing Hu Executives
Liang Chun Fang Supervisors
Xia Ying Song Directors, executives
He Shi Sheng Executives
Jiang Wei Jian Secretary Dong
Hu Xiao Ping Supervisors
Yan Jiang Wei Directors, executives
Xia Ding Hu Director
Chen Xing Hua Executives
Zhu Ming Yuan Executives
Zhu Bao Ning Executives
He Shu Lin Executives

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