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The Altman Z-Score is a model designed to predict the likelihood of a company going bankrupt within the next two years. Created by American finance professor Edward Altman in 1968, the model is specifically designed for publicly traded manufacturing companies with assets greater than $1 million.
Good Sign:
Altman Z-score of 43.1 is strong.
China Next-Gen Commerce and Supply Chain has a Altman Z-Score of 40.13, indicating it is in Safe Zones. This implies the Altman Z-Score is strong.
The zones of discrimination were as such:
When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.
China Next-Gen Commerce and Supply Chain (HKSE:03928) Altman Z-Score Explanation
X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.
X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.
X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.
X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.
X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.
* 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.
China Next-Gen Commerce and Supply Chain Altman Z-Score Chart
China Next-Gen Commerce and Supply Chain Annual Data
HKSE:03928 vs PWR, FIX, EME: Altman Z-Score Comparison
For the Engineering & Construction subindustry, China Next-Gen Commerce and Supply Chain's Altman Z-Score, along with its competitors' market caps and Altman Z-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.
China Next-Gen Commerce and Supply Chain Altman Z-Score vs Construction Industry
China Next-Gen Commerce and Supply Chain Altman Z-Score Calculation
Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
* 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. GuruFocus does not calculate Altman Z-Score when X4 or X5 value is 0.
China Next-Gen Commerce and Supply Chain (HKSE:03928) has a Altman Z-Score of 40.13 as of Sep. 05, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on China Next-Gen Commerce and Supply Chain and its competitors. This is 1381% above median its historical median of 2.71. Over the past decade, China Next-Gen Commerce and Supply Chain's Altman Z-Score has ranged from 1.46 to 43.10. According to the industry distribution chart, China Next-Gen Commerce and Supply Chain ranks #15 out of 1760 companies in the Construction industry, placing it in the top 0.90000000000001%.
Is China Next-Gen Commerce and Supply Chain's Altman Z-Score too high?
China Next-Gen Commerce and Supply Chain's current Altman Z-Score of 40.13 is 1381% above median its 10-year median of 2.71. Over the past 10 years, this metric has ranged from a low of 1.46 to a high of 43.10. The Construction industry median Altman Z-Score is 2.28. China Next-Gen Commerce and Supply Chain's value of 40.13 is 1660.1% above this industry median. Based on the distribution chart, China Next-Gen Commerce and Supply Chain ranks #15 out of 1760 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, China Next-Gen Commerce and Supply Chain has a GF Score™ of 53/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does China Next-Gen Commerce and Supply Chain's Altman Z-Score compare to PWR and FIX?
According to the Construction industry distribution chart, China Next-Gen Commerce and Supply Chain ranks #15 out of 1760 companies for Altman Z-Score. This places China Next-Gen Commerce and Supply Chain in the top 1% of its industry — outperforming the majority of peers. The industry median Altman Z-Score is 2.28. China Next-Gen Commerce and Supply Chain's value of 40.13 is 1660.1% above this benchmark. Historically, China Next-Gen Commerce and Supply Chain's own Altman Z-Score has ranged from 1.46 to 43.10 over the past decade. While the company's 10-year median is 2.71 vs. the industry median of 2.28, China Next-Gen Commerce and Supply Chain has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Altman Z-Score for a Construction company?
The median Altman Z-Score among Construction companies is 2.28, based on 1,760 companies in the industry. Companies in the top quartile (top 25%) have a Altman Z-Score significantly above this median, while those in the bottom quartile fall well below. However, Altman Z-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. China Next-Gen Commerce and Supply Chain's current Altman Z-Score of 40.13 is 1660.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Altman Z-Score mean?
A high Altman Z-Score can signal that a stock is expensive relative to its fundamentals. The Altman Z-score measures a company's bankruptcy risk. View historical data on China Next-Gen Commerce and Supply Chain and its competitors. For the Construction industry, the median Altman Z-Score is 2.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Next-Gen Commerce and Supply Chain's current Altman Z-Score is 40.13, which is 1381% above median its own 10-year median of 2.71. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Next-Gen Commerce and Supply Chain stock overvalued right now?
Based on GuruFocus' analysis, China Next-Gen Commerce and Supply Chain (HKSE:03928) is currently considered Significantly Overvalued. The stock's GF Value™ is HK$1.74, compared to a current price of HK$26.30 — trading 1411.5% above its estimated fair value. The current Altman Z-Score is 40.13, which is 1381% above median its 10-year median of 2.71 and 1660.1% above the Construction industry median of 2.28. China Next-Gen Commerce and Supply Chain's overall GF Score™ is 53/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Altman Z-Score calculated?
Altman Z-Score is calculated from a company's financial statements. For China Next-Gen Commerce and Supply Chain (HKSE:03928), the current Altman Z-Score is 40.13 as of Sep. 05, 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 China Next-Gen Commerce and Supply Chain (HKSE:03928) Overvalued in 2026?
Based on GuruFocus' analysis, China Next-Gen Commerce and Supply Chain stock appears to be overvalued.
The current stock price of HK$26.30 is trading 1411.5% above its estimated GF Value™ of HK$1.74.
GuruFocus considers China Next-Gen Commerce and Supply Chain to be Significantly Overvalued.
Key valuation signals for HKSE:03928:
Altman Z-Score: 40.13 (1381% above median its 10-year median of 2.71)
GF Value™: HK$1.74 vs. price of HK$26.30 (1411.5% above fair value)
Industry Position: 1660.1% above the Construction median (#15 of 1760)
No single metric tells the full story. See the HKSE:03928 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Next-Gen Commerce and Supply Chain Ltd is an investment holding company. Along with its subsidiaries, the company is principally engaged in the provision of construction services and property investment in Singapore. It has two operating segments as follows: i) Construction services: provision of civil engineering works, building construction works and other ancillary services to government and commercial corporations. ii) Property investment: leasing of residential and industrial properties. The majority of the company's revenue is derived from the Construction services segment. Geographically, the company derives all of its revenue from Singapore.
53GF Score
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