UAFRS vs As Reported Weekly Highlights - Asia - 2020 07 31
This week, Valens identified distortions and the corresponding adjustments to correct for those distortions for 2439:TAI, 300036:CHN, and 300327:CHN.Beijing SuperMap Software Co., Ltd. is a China-based company principally engaged in the research and development of geography information system (GIS) software, as well as the provision of GIS technology development services. The Company's main products and services include GIS basic platform software, GIS application platform software, cloud GIS and big data services. The Company is also involved in the sale of GIS application projects related products. The Company distributes its products in domestic market and to overseas markets, including Japan, Korea, Singapore, Sweden, Saudi Arabia, South Africa and others.
Merry Electronics is engaged in the manufacture, modification, repair, sale, design and export of electric appliances, video and audio electronics products, wireless communication machinery, computer, consumer electronics products, auto control system, digital fire alarm system, and related electronics components. Co.'s main products include speaker systems, microphones, portable hands free and headsets.
Sino Wealth Electronic Ltd. is a China-based company principally engaged in the design and sale of integrated circuit chips, as well as the provision of related systematic solutions and after-sale technical supporting services. The Company's main products consist of mast control single chips and driver chips used in new display screens. The Company's products are applied in home appliances, frequency conversion and electromechanical control, lithium battery power management, smart meters and Internet of things, wearable applications and display drives of Passive-Matrix Organic Light-Emitting Diode (PMOLED) and Active-Matrix Organic Light-Emitting Diode (AMOLED). The Company distributes its products in domestic market and to overseas markets.
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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