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BGIN BLOCKCHAIN LIMITED
CIK 0001945565 ยท EDGAR โ†—
cleanelevatedtriggeredno dataplanned
74.5
composite ยท 3 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-12 ยท FY 2025-12-31 ยท TRIGGERED100.0

Restatement predictor

F-Score 3.88 โ€” misstatement risk 3.9x the base rate
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-28) โ†—
Evidence โ€” inputs and thresholds
{
  "f_score": 3.875,
  "probability": 0.01434,
  "components": {
    "rsst": -0.0553,
    "drec": 0.0001,
    "dinv": -0.0255,
    "soft": 0.4226,
    "dcs": -0.7771,
    "droa": -2.1503,
    "issue": 1
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1945565/000121390026048532/0001213900-26-048532-index.htm",
    "form": "20-F",
    "filed": "2026-04-28"
  }
}
P-01 ยท FY 2025-12-31 ยท CLEAN0.0

Earnings quality

Beneish M-Score -3.99 โ€” no manipulation profile
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-28) โ†—
Evidence โ€” inputs and thresholds
{
  "m_score": -3.991,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 1,
    "GMI": 1,
    "AQI": 1.108,
    "SGI": 0.223,
    "DEPI": 0.273,
    "SGAI": 1,
    "LVGI": 1.829,
    "TATA": -0.108
  },
  "defaulted_to_neutral": [
    "DSRI",
    "GMI",
    "SGAI"
  ],
  "sloan_accruals": -0.0553,
  "inputs": {
    "revenue_t": 67395903,
    "revenue_t1": 302277581,
    "total_assets_t": 92835665,
    "net_income_t": -176952806,
    "cfo_t": -166896438
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1945565/000121390026048532/0001213900-26-048532-index.htm",
    "form": "20-F",
    "filed": "2026-04-28"
  }
}
P-05 ยท FY 2024-12-31 ยท CLEAN8.8

Tax arbitrage

ETR 18.1% โ€” within normal range of statutory
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-28) โ†—
Evidence โ€” inputs and thresholds
{
  "etr_by_year": {
    "2024-12-31": 0.1813,
    "2023-12-31": 0.1948
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2024-12-31": 0.0287,
    "2023-12-31": 0.0152
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1945565/000121390026048532/0001213900-26-048532-index.htm",
    "form": "20-F",
    "filed": "2026-04-28"
  }
}