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LZMH

LZ Technology Holdings Limited
CIK 0001967397 ยท EDGAR โ†—
cleanelevatedtriggeredno dataplanned
83.2
composite ยท 4 signals ยท ELEVATED

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-05 ยท FY 2024-12-31 ยท ELEVATED100.0

Tax arbitrage

ETR -20.2% vs 21% statutory โ€” gap persistent across 1 of 1 years
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2025-06-17) โ†—
Evidence โ€” inputs and thresholds
{
  "etr_by_year": {
    "2024-12-31": -0.2021
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2024-12-31": 0.4121
  },
  "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/1967397/000121390025055265/0001213900-25-055265-index.htm",
    "form": "20-F",
    "filed": "2025-06-17"
  }
}
P-13 ยท FY 2025-12-31 ยท ELEVATED100.0

Zombie / distress

Interest coverage -22.88x below 1.0
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-28) โ†—
Evidence โ€” inputs and thresholds
{
  "icr_by_year": {
    "2025-12-31": -22.881,
    "2024-12-31": 0.682
  },
  "consecutive_years_below_1": 2,
  "altman_z_double_prime": -4.956,
  "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": -25169000,
    "interest_expense_t": 1100000
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1967397/000121390026048529/0001213900-26-048529-index.htm",
    "form": "20-F",
    "filed": "2026-04-28"
  }
}
P-01 ยท FY 2025-12-31 ยท CLEAN0.0

Earnings quality

Beneish M-Score -3.84 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": -3.837,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 0.809,
    "GMI": 1.269,
    "AQI": 0.799,
    "SGI": 1.432,
    "DEPI": 0.926,
    "SGAI": 1,
    "LVGI": 1.099,
    "TATA": -0.339
  },
  "defaulted_to_neutral": [
    "SGAI"
  ],
  "sloan_accruals": -0.3874,
  "inputs": {
    "revenue_t": 161446000,
    "revenue_t1": 112728000,
    "total_assets_t": 55782000,
    "net_income_t": -24807000,
    "cfo_t": -5891000
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1967397/000121390026048529/0001213900-26-048529-index.htm",
    "form": "20-F",
    "filed": "2026-04-28"
  }
}
P-12 ยท FY 2025-12-31 ยท CLEAN32.4

Restatement predictor

F-Score 0.97 โ€” at or below the population base rate
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-28) โ†—
Evidence โ€” inputs and thresholds
{
  "f_score": 0.972,
  "probability": 0.0036,
  "components": {
    "rsst": -0.3874,
    "drec": 0.0997,
    "dinv": 0.0094,
    "soft": 0.9168,
    "dcs": 0.389,
    "droa": -0.4628,
    "issue": 0
  },
  "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/1967397/000121390026048529/0001213900-26-048529-index.htm",
    "form": "20-F",
    "filed": "2026-04-28"
  }
}