UAFRS vs As Reported Weekly Highlights - Asia - 2020 01 10
This week, Valens identified distortions and the corresponding adjustments to correct for those distortions for 000858:CHN, 600276:CHN, and 300015:CHN.Aier Eye Hospital Group Co.,Ltd. is a China-based ophthalmic medical institution. The Company is mainly engaged in ophthalmic diseases treatment, surgical services and medical optometry. The Company mainly provides corneal refractive surgery, cataract operation, anterior segment operation, posterior segment operation and optometry services. The Company mainly operates its business in domestic market, with Central China as its main market.
Jiangsu Hengrui Medicine is engaged in the development, manufacture and distribution of raw chemical pharmaceuticals, tablets, capsules, powder injections, lyophilized powder for injections, sterile poured-in powder injections, large & small volume parenteral solutions, bulk drugs, western medicines, eye-drops, medicine packaged materials and raw medicines. Through its subsidiaries, Co. is also engaged in the development, manufacture and wholesale of spray solutions, chinese medicines and raw chemicals and research and development of producing new medicines.
Wuliangye Yibin is engaged in manufacture and sale of "Wuliangye" liquors and other series of alcoholic drinks. Through its subsidiaries, Co. is also engaged in the supply of raw materials; packaging and publication printing; investment activities; provision of parking service; and manufacture and sale of industrial-used steams, fine chemicals, fruit wines, white wines, white carbon, and black and lactic acids.
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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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