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PMA

Ming Shing Group Holdings Limited
CIK 0001956166 ยท EDGAR โ†—
cleanelevatedtriggeredno dataplanned
81.6
composite ยท 4 signals ยท TRIGGERED

Every card below shows the score and the exact filing data it was computed from โ€” no unexplained numbers. Some signals (P-02, P-03, P-08, P-09, P-10, P-11) pull live documents from SEC EDGAR the first time you view this company; a few of those (P-03, P-10, P-11) use AI to read the filing text, but every AI claim must quote the actual document verbatim or it's discarded โ€” never a guess.

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Signals

P-01 ยท FY 2025-03-31 ยท TRIGGERED92.2

Earnings quality

Beneish M-Score -0.58 exceeds the -1.78 manipulation threshold
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2025-08-15) โ†—
Evidence โ€” inputs and thresholds
{
  "m_score": -0.582,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 2.093,
    "GMI": 1,
    "AQI": 0.987,
    "SGI": 1.228,
    "DEPI": 0.309,
    "SGAI": 1,
    "LVGI": 1.019,
    "TATA": 0.167
  },
  "defaulted_to_neutral": [
    "GMI",
    "SGAI"
  ],
  "sloan_accruals": 0.1769,
  "inputs": {
    "revenue_t": 33851041,
    "revenue_t1": 27572692,
    "total_assets_t": 13424283,
    "net_income_t": -5730751,
    "cfo_t": -7969196
  },
  "stale": false,
  "latest_filing_period": "2025-03-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1956166/000164117225024398/0001641172-25-024398-index.htm",
    "form": "20-F",
    "filed": "2025-08-15"
  }
}
P-12 ยท FY 2025-03-31 ยท TRIGGERED69.2

Restatement predictor

F-Score 2.08 โ€” misstatement risk 2.1x the base rate
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2025-08-15) โ†—
Evidence โ€” inputs and thresholds
{
  "f_score": 2.075,
  "probability": 0.00768,
  "components": {
    "rsst": 0.1769,
    "drec": 0.2038,
    "dinv": null,
    "soft": 0.897,
    "dcs": 0.1342,
    "droa": -0.6226,
    "issue": 0
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": false,
  "latest_filing_period": "2025-03-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1956166/000164117225024398/0001641172-25-024398-index.htm",
    "form": "20-F",
    "filed": "2025-08-15"
  }
}
P-13 ยท FY 2025-03-31 ยท ELEVATED90.0

Zombie / distress

Interest coverage -10.52x below 1.0
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2025-08-15) โ†—
Evidence โ€” inputs and thresholds
{
  "icr_by_year": {
    "2025-03-31": -10.524,
    "2024-03-31": 11.347,
    "2023-03-31": 14.662,
    "2022-03-31": 28.377
  },
  "consecutive_years_below_1": 1,
  "altman_z_double_prime": -3.657,
  "definitions": {
    "zombie": "ICR<1 for 3+ consecutive FYs (BIS 2018)",
    "z_distress": "<1.1 distress, 1.1-2.6 gray, >2.6 safe"
  },
  "inputs": {
    "ebit_t": -5354835,
    "interest_expense_t": 508810
  },
  "stale": false,
  "latest_filing_period": "2025-03-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1956166/000164117225024398/0001641172-25-024398-index.htm",
    "form": "20-F",
    "filed": "2025-08-15"
  }
}
P-05 ยท FY 2024-03-31 ยท CLEAN11.6

Tax arbitrage

ETR 21.8% โ€” within normal range of statutory
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2025-08-15) โ†—
Evidence โ€” inputs and thresholds
{
  "etr_by_year": {
    "2024-03-31": 0.2181,
    "2023-03-31": 0.144
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2024-03-31": -0.0081,
    "2023-03-31": 0.066
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": false,
  "latest_filing_period": "2025-03-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1956166/000164117225024398/0001641172-25-024398-index.htm",
    "form": "20-F",
    "filed": "2025-08-15"
  }
}