UAFRS vs As Reported Weekly Highlights - Asia - 2020 07 17
This week, Valens identified distortions and the corresponding adjustments to correct for those distortions for 300124:CHN, 002279:CHN, and AIY:SGP.Beijing Join-cheer Software and its subsidiaries are engaged in the research, development and provision of management consultation services on software for electronic government affairs, group management and control, mega data, and mobile internet fields. Co. also sells electronic computer hardware and software, printing paper, and others.
iFAST Corp is an interned-based investment products distribution company providing investment products and services to financial advisory ("FA") firms, financial institutions, banks, multinational companies, as well as retail and high net worth investors in Asia. As of Dec 31 2016, Co. offered access to over 5,000 investment products including unit trusts, bonds and Singapore Government Securities, stocks and exchange traded funds, insurance products, and services including online robo-advisory portfolio management services, research and investment seminars, IT solutions, investment administration and transaction services.
Shenzhen Inovance Technology Co.,Ltd is a China-based company principally engaged in the research, development, manufacture and distribution of industrial automatic control products and new energy related products. The Company's main products include inverters, servo systems, control systems, industrial visual systems, sensors, motor controllers, auxiliary power systems, traction converters, auxiliary converters, high voltage boxes, traction motors and Train Control and Management Systems (TCMSs), among others. 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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