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Teemsun Technology Co (SZSE:301571) Beneish M-Score : 0.00 (As of Apr. 23, 2025)


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What is Teemsun 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.

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

During the past 5 years, the highest Beneish M-Score of Teemsun Technology Co was -1.65. The lowest was -1.65. And the median was -1.65.


Teemsun Technology Co Beneish M-Score Historical Data

The historical data trend for Teemsun 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.

Teemsun Technology Co Beneish M-Score Chart

Teemsun Technology Co Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
- - - - -1.65

Teemsun Technology Co Quarterly Data
Dec19 Dec20 Dec21 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 - -1.65 - - -

Competitive Comparison of Teemsun Technology Co's Beneish M-Score

For the Electrical Equipment & Parts subindustry, Teemsun 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.


Teemsun Technology Co's Beneish M-Score Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Teemsun Technology Co's Beneish M-Score distribution charts can be found below:

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


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Teemsun 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 Teemsun 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 ¥714.8 Mil.
Revenue was 266.58 + 271.472 + 105.601 + 261.43 = ¥905.1 Mil.
Gross Profit was 101.279 + 30.596 + 105.601 + 114.136 = ¥351.6 Mil.
Total Current Assets was ¥2,076.0 Mil.
Total Assets was ¥2,544.6 Mil.
Property, Plant and Equipment(Net PPE) was ¥306.3 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0.0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥9.2 Mil.
Total Current Liabilities was ¥747.5 Mil.
Long-Term Debt & Capital Lease Obligation was ¥6.6 Mil.
Net Income was 49.7 + 46.596 + 10.762 + 51.323 = ¥158.4 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0.0 Mil.
Cash Flow from Operations was -63.118 + -25.226 + -56.333 + -6.826 = ¥-151.5 Mil.
Total Receivables was ¥0.0 Mil.
Revenue was 168.549 + 188.307 + 83.298 + 181.581 = ¥621.7 Mil.
Gross Profit was 68.345 + 16.864 + 83.298 + -149.213 = ¥19.3 Mil.
Total Current Assets was ¥0.0 Mil.
Total Assets was ¥0.0 Mil.
Property, Plant and Equipment(Net PPE) was ¥0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0.0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥13.4 Mil.
Total Current Liabilities was ¥0.0 Mil.
Long-Term Debt & Capital Lease Obligation was ¥0.0 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)
=(714.798 / 905.083) / (0 / 621.735)
=0.78976 / 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)
=(19.294 / 621.735) / (351.612 / 905.083)
=0.031033 / 0.388486
=

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 - (2076.043 + 306.333) / 2544.635) / (1 - (0 + 0) / 0)
=0.063765 /
=

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
=905.083 / 621.735
=

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 + 0)) / (0 / (0 + 306.333))
= / 0
=

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)
=(9.172 / 905.083) / (13.357 / 621.735)
=0.010134 / 0.021483
=

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)
=((6.566 + 747.512) / 2544.635) / ((0 + 0) / 0)
=0.29634 /
=

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
=(158.381 - 0 - -151.503) / 2544.635
=0.121779

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.


Teemsun Technology Co Beneish M-Score Related Terms

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Teemsun Technology Co Business Description

Traded in Other Exchanges
N/A
Address
Zone 1, No. 81 Beiqing Road, Room 901, 9th Floor, Building 4, Haidian District, Beijing, CHN, 100089
Teemsun Technology Co Ltd is engaged in research & development, production, sales and services in optoelectronic fields such as infrared thermal imaging.

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