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Yangzhou Yangjie Electronic Technology Co (SZSE:300373) Beneish M-Score : -2.60 (As of Apr. 19, 2025)


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What is Yangzhou Yangjie Electronic Technology 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 -2.6 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Yangzhou Yangjie Electronic Technology Co's Beneish M-Score or its related term are showing as below:

SZSE:300373' s Beneish M-Score Range Over the Past 10 Years
Min: -2.6   Med: -2.3   Max: 13.57
Current: -2.6

During the past 13 years, the highest Beneish M-Score of Yangzhou Yangjie Electronic Technology Co was 13.57. The lowest was -2.60. And the median was -2.30.


Yangzhou Yangjie Electronic Technology Co Beneish M-Score Historical Data

The historical data trend for Yangzhou Yangjie Electronic Technology 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.

Yangzhou Yangjie Electronic Technology Co Beneish M-Score Chart

Yangzhou Yangjie Electronic Technology Co Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.33 13.57 -2.13 -2.26 -2.60

Yangzhou Yangjie Electronic Technology Co Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
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 -2.26 -2.40 -2.52 -2.64 -2.60

Competitive Comparison of Yangzhou Yangjie Electronic Technology Co's Beneish M-Score

For the Semiconductors subindustry, Yangzhou Yangjie Electronic Technology 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.


Yangzhou Yangjie Electronic Technology Co's Beneish M-Score Distribution in the Semiconductors Industry

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

* The bar in red indicates where Yangzhou Yangjie Electronic Technology Co's Beneish M-Score falls into.


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Yangzhou Yangjie Electronic Technology 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 Yangzhou Yangjie Electronic Technology 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 * 1.0893+0.528 * 0.9148+0.404 * 0.8102+0.892 * 1.1153+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8642+4.679 * -0.02729-0.327 * 1.2329
=-2.60

* 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 (Dec24) TTM:Last Year (Dec23) TTM:
Total Receivables was ¥2,138 Mil.
Revenue was 1609.76 + 1558.363 + 1537.211 + 1328.044 = ¥6,033 Mil.
Gross Profit was 623.706 + 523.474 + 481.433 + 367.467 = ¥1,996 Mil.
Total Current Assets was ¥7,746 Mil.
Total Assets was ¥14,272 Mil.
Property, Plant and Equipment(Net PPE) was ¥4,923 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥121 Mil.
Total Current Liabilities was ¥3,862 Mil.
Long-Term Debt & Capital Lease Obligation was ¥603 Mil.
Net Income was 333.342 + 244.267 + 244.338 + 180.505 = ¥1,002 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was 507.339 + 356.455 + 401.41 + 126.727 = ¥1,392 Mil.
Total Receivables was ¥1,760 Mil.
Revenue was 1369.165 + 1415.928 + 1314.292 + 1310.451 = ¥5,410 Mil.
Gross Profit was 389.704 + 457.124 + 387.997 + 402.417 = ¥1,637 Mil.
Total Current Assets was ¥6,559 Mil.
Total Assets was ¥12,627 Mil.
Property, Plant and Equipment(Net PPE) was ¥4,318 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥125 Mil.
Total Current Liabilities was ¥2,708 Mil.
Long-Term Debt & Capital Lease Obligation was ¥496 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)
=(2138.429 / 6033.378) / (1760.191 / 5409.836)
=0.354433 / 0.325369
=1.0893

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)
=(1637.242 / 5409.836) / (1996.08 / 6033.378)
=0.302642 / 0.33084
=0.9148

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 - (7746.484 + 4922.725) / 14271.62) / (1 - (6558.548 + 4318.499) / 12626.924)
=0.11228 / 0.138583
=0.8102

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
=6033.378 / 5409.836
=1.1153

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 + 4318.499)) / (0 / (0 + 4922.725))
=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)
=(120.745 / 6033.378) / (125.286 / 5409.836)
=0.020013 / 0.023159
=0.8642

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)
=((602.547 + 3862.201) / 14271.62) / ((496.313 + 2707.606) / 12626.924)
=0.312841 / 0.253737
=1.2329

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
=(1002.452 - 0 - 1391.931) / 14271.62
=-0.02729

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.

Yangzhou Yangjie Electronic Technology Co has a M-score of -2.60 suggests that the company is unlikely to be a manipulator.


Yangzhou Yangjie Electronic Technology Co Beneish M-Score Related Terms

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Yangzhou Yangjie Electronic Technology Co Business Description

Traded in Other Exchanges
N/A
Address
Xin Ganquan Road, No. 68, Hanjiang District, Jiangsu Province, Yangzhou, CHN, 225123
Yangzhou Yangjie Electronic Technology Co Ltd is engaged in research and development, manufacturing and sales of discrete semiconductor device products such as discrete device chips, power diodes and rectifier bridges.
Executives
Xu Xiao Bing Executives
Chen Run Sheng Directors, executives
Dai Juan Executives
Liu Cong Ning Directors, executives
Qin Nan Securities Affairs Representative
Zhou Bin Director
Liang Yao Directors, executives
Lin Zhao Huang Executives
Wang Yi Executives
Xu Ping Supervisors

Yangzhou Yangjie Electronic Technology Co Headlines

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