UAFRS vs As Reported Weekly Highlights - Asia - 2020 04 13
This week, Valens identified distortions and the corresponding adjustments to correct for those distortions for 002437:CHN, 2059:TAI, and 2168:JPN.HARBIN GLORIA PHARMACEUTICALS Co., LTD is a China-based company, principally engaged in the manufacture and distribution of pharmaceuticals. The Company's products include cardiovascular and cerebrovascular drugs, orthopedic drugs, nutritional drugs, anti-infective drugs, immune-enhancing drugs, diabetes drugs, antineoplastic drugs and electrolytes drugs. The Company is also engaged in the agency, research and development of pharmaceuticals, the provision of clinical services and financial investment business. The Company distributes its products within domestic market and to overseas markets.
King Slide Works is engaged in the design, research, manufacture and sale of computer and electronic rails, server rack rails and related peripheral and parts, slide and concealed hinge applied in hardware, furniture and kitchen ware, and related hardware parts and accessories.
Pasona Group is a holding company principally engaged in the provision of staffing services and employment-related services. Human Resource (HR) Solution segment is engaged in the temporary staffing services for a various fields including accounting, trading, insurance, security, language translation, IT, sales and marketing. This segment is also engaged in the insourcing, placement and recruiting, outplacement services, and overseas sourcing services. Life Solution segment deals with child-care-related businesses, as well as the provision of nursing care support and housekeeping services. Public Solution segment provides social welfare related business and regional development business.
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- 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
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