UAFRS vs As Reported Weekly Highlights - Asia - 2020 09 18
This week, Valens identified distortions and the corresponding adjustments to correct for those distortions for 300638:CHN, 268:HKG, and 3034:JPN.Fibocom Wireless Inc. is a China-based company principally involved in the design, research, development and sales of wireless modules, as well as provision of IT solutions for application industries. The Company's main business is primarily engaged in the sales of wireless modules which have been applied in machine to machine (M2M) and MI (Multi-intelligent) consumer electronics, provision of solution plans, sales of parts and components, as well as other business.
Kingdee International Software Group Co. is an investment holding company. Through its subsidiaries, Co. is engaged in developing, manufacturing and selling of enterprise management software products and the provision of software-related technical services in The People's Republic of China. As of Dec 31 2014, Co. conducted its businesses via two segments: ERP business and Cloud services business, which includes sales and implementation of enterprise management software, provision of other related services and sales of hardware related to enterprise management software arrangements and sales of middleware software business; and others, which consists the operation of investment properties.
Qol is mainly engaged in the pharmaceutical business. Co. operates in two business segments. Pharmacy Business is engaged in the operation of insurance pharmacy and the entrusted medical services, as well as the operation of convenience stores in hospitals. BPO Contracting Business is involved in the provision of support services for medical institutions, promotion materials and medical information materials for pharmaceutical makers, the specialty manpower dispatching, the website production and data input services, as well as the provision of consulting services.
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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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