UAFRS vs As Reported Weekly Highlights - Asia - 2020 01 31
This week, Valens identified distortions and the corresponding adjustments to correct for those distortions for 600612:CHN, 002191:CHN, and 2474:TAI.Catcher Technology is engaged in the manufacture, processing and sale of aluminum, magnesium alloy compression casting and moulds; and lease of land and factory buildings. Co. provides one-stop shopping services to its clients. Co. also provides customers different options on forming process and surface treatment, e.g. extrusion, stamping, forging, and injection mold for different materials. In addition, Co. is engaged in general investments; trading businesses; and manufacture and sale of moulds and electronic components. Co.'s major products include laptop as well as consumer electronic products and parts. Co. operates principally in Taiwan and the People's Republic of China.
Lao Feng Xiang is engaged in the production of gold and silver article, jewelry, diamond and related products and equipment, arts and crafts, tourist arts and crafts and related products and raw materials, education tools and related raw materials and equipment; wholesale, retail, acting as an agent and import and export of the above commodity; property management; and pawn and auction operations. Through its subsidiaries, Co. is also engaged in manufacture of pencil making machinery; production and sale of varnish used for pencil, glue, printing ink and paint; and processing, examine and sale of diamond, jewelry, gold and silver products.
SHENZHEN JINJIA GROUP CO.,LTD., formerly Shenzhen Jinjia Color Printing Group Co., Ltd, is principally engaged in the production and distribution of cigarette label products, as well as the development and manufacture of package printing materials. The Company also provides laser packaging materials and property management services. The Company operates its business throughout China with eastern China, southwest China and southern China as its main domestic markets.
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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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