VisionSys AI Inc.
VSA Consumer Defensive Education & Training Services
VisionSys AI Inc.’s revenue for fiscal 2025 (year ended December 2025) was $149,000.00, down 99.9% from fiscal 2024.
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VisionSys AI Inc. (VSA) Beneish M-score
VisionSys AI Inc.'s Beneish M-score for fiscal 2025 cannot be worked out: days’ sales in receivables index cannot be worked out.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2022 | −1.91 | 1.79 |
| FY2021 | −3.70 | 0.23 |
| FY2020 | −3.93 | 0.07 |
| FY2019 | −4.00 | 1.32 |
| FY2018 | −5.32 | (3.58) |
| FY2017 | −1.74 | 1.62 |
| FY2016 | −3.36 | (0.45) |
| FY2015 | −2.91 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | — | — | n/a | — |
| Gross margin index | 1.63 | — | 0.86 | |
| Asset quality index Asset quality not computable — index set to 1 | 1.00 | — | Set to 1 | 0.40 |
| Sales growth index | 0.00 | — | 0.00 | |
| Depreciation index Depreciation not reported — index set to 1 | 1.00 | — | Set to 1 | 0.12 |
| SG&A index | 49.60 | — | −8.53 | |
| Total accruals to total assets | 1.39 | — | 6.50 | |
| Leverage index | 0.00 | — | −0.00 | |
| Beneish M-score | n/a — days’ sales in receivables index cannot be worked out | — | ||
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 |
|---|---|
| AMBO Ambow Education Holding Ltd. compare | −2.1× |
| EEIQ EpicQuest Education Group International Limited compare | −1.8× |
| WAFU Wah Fu Education & Technology Group Limited compare | −1.6× |
| GSUN Golden Sun Technology Group Limited compare | 12.7× |
| GVHGF Visionary Holdings Inc. compare | 22.0× |
| CLEUF China Liberal Education Holdings Limited compare | 68.4× |
| VSA VisionSys AI Inc. | — |
| LXEH Lixiang Education Holding Co., Ltd. Sponsored ADR compare | — |
| KIDZ KIDZ AI Inc. 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