UAFRS vs As Reported Weekly Highlights - Asia - 2020 09 25
This week, Valens identified distortions and the corresponding adjustments to correct for those distortions for 2317:TAI, 300007:CHN, and 3396:HKG.Hanwei Electronics Group Corporation, formerly Henan Hanwei Electronics Co.,Ltd., is a China-based company principally engaged in the provision of intelligent city integrated solutions. The Company is engaged in the research, development, production and sale of sensors. The Company also provides environmental monitoring and governance solutions, as well as utility services and solutions. The Company is also involved in the informatization of gas, water supply, heating and other municipal management through the Internet of Things platform solutions. The Company operates its business in domestic and overseas markets.
Hon Hai Precision Industry is engaged in manufacturing, processing and selling of connectors, cable, enclosures, wired and wireless communication products, optics products, power supply modules, and assemblies for use in the information technology, communications, automotive equipment, precision molding, automobile, and consumer electronics industries. Co.'s products include input and output connectors, integrated circuit (IC) cables, memory IC connectors, system connectors, network terminals, scanners, keyboards, monitors, mouse, network integrated connection cables, digital network optical connectors, filtering connectors, electrostatic prevention connectors, and high frequency connectors.
Legend Holdings Corporation is a China-based diversified investment holding company. The Company mainly operates through six business segments. The Information Technology (IT) segment is engaged in the development, manufacture and sale of portable electronic products and other high-end technology products. The Financial Services segment is engaged in the provision of short-term financing services and customized financial solutions. The Modern Services segment is engaged in the provision of dental care and Internet healthcare services. The Agriculture and Food segment is engaged in the planting and sale of fruit and tea products. The New Materials segment is engaged in the provision of the fine chemical services. The Financial Investments segment is engaged in private equity investment, angel investment, venture capital investment and other investment businesses.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.