UAFRS vs As Reported Weekly Highlights - Asia - 2020 10 16
This week, Valens identified distortions and the corresponding adjustments to correct for those distortions for 2354:TAI, 300166:CHN, and 669:HKG.Business-intelligence of Oriental Nations Corporation Ltd. is a China-based company principally engaged in collection, management, analysis of data, as well as provision of related application products, services and solution plans. The Company's main business is primarily involved in the development and sales of hardware and software, provision of technological services and system integration services, among others. The Company's products are primarily applied in areas which include telecommunication, finance and industry, among others.
Foxconn Technology and its subsidiaries are engaged in manufacturing, processing and trading computer terminators, monitors, electronic computers and peripheral equipment, power supplies and its related components, precision processing components and magnesium machinery casing; manufacturing, processing and selling televisions, fax machines, video recorders, sound systems and its related components; manufacturing, and processing and trading uninterruptible power supply systems equipments, telephone and telecommunication equipments; and import and export trading.
Techtronic Industries is an investment holding company. Co. is engaged in the manufacture and trading electrical and electronic products. Co.'s categories of goods supplied are Power Equipment and Floor Care and Appliances. Power Equipment segment is engaged in the sale of power tools, power tool accessories, outdoor products, and outdoor product accessories for consumer, trade, professional and industrial users. The products are available under the MILWAUKEE, EMPIRE, AEG, RYOBI and HOMELITE brands. Floor Care and Appliances segment is engaged in the sales of floor care products and floor care accessories under the HOOVER, DIRT DEVIL, VAX and ORECK brands.
In 2009, just as the dust was settling from the last major equity and credit market crises, we launched a boutique research firm with the intention of breaking Wall Street’s biases and broken incentives:
- GAAP and IFRS have failed to provide rules for reliable financial statement reporting
- Stock analyst recommendations are not grounded in disciplined financial analysis
- Credit agencies have been set up to grossly fail in their responsibilities to investors and the public markets
- Utter lack of willingness of major research firms to employ the the most advanced forensic analysis available
We sought to provide investors and company analysts with a source of information that changed all that.
Many years later, our business model remains because little has changed on Wall Street.
- Corporate credit ratings remain years behind the fundamental underpinnings of company performance
- Stock analysts continue to make recommendations with deeply inherent biases
- Research firms have failed to break down the walls between credit, equity, and macroeconomic research
- The governing accounting bodies have created more leeway for mis-estimates and mis-classifications as financials have become unwieldy and overwhelming
The integrity of Valens Research is founded in our disciplined processes and analytics. No “star” analysts. No corporate advisory relationships. No-nonsense opinions and recommendations.
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