Lianhe Sowell International Group Ltd
LHSW Technology Software Infrastructure
Lianhe Sowell International Group Ltd’s revenue for fiscal 2026 (year ended March 2026) was $43.3 million, up 18.4% from fiscal 2025.
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Lianhe Sowell International Group Ltd (LHSW) Beneish M-score
Lianhe Sowell International Group Ltd's Beneish M-score for fiscal 2026 is −2.15; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2026 | −2.15 | (0.70) |
| FY2025 | −1.45 | (4.14) |
| FY2024 | 2.69 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.72 | — | 0.66 | |
| Gross margin index | 1.22 | — | 0.65 | |
| Asset quality index | 1.32 | — | 0.53 | |
| Sales growth index | 1.18 | — | 1.06 | |
| Depreciation index | 1.34 | — | 0.15 | |
| SG&A index | 2.30 | — | −0.40 | |
| Total accruals to total assets | 0.08 | — | 0.38 | |
| Leverage index | 1.04 | — | −0.34 | |
| Beneish M-score | Elevated | −2.15 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| HUBC Hub Cyber Security Ltd. compare | −21.8× |
| MARK Remark Holdings, Inc. compare | −12.1× |
| CETX Cemtrex Inc. compare | −5.0× |
| LHSW Lianhe Sowell International Group Ltd | −2.1× |
| CSAI Cloudastructure Inc. compare | −0.1× |
| YYAI AiRWA Inc. compare | 0.8× |
| WETO Wetour Robotics Limited compare | 2.1× |
| TAOP Taoping Inc. compare | 27.5× |
| VHAI Vocodia Holdings Corp. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI