UAFRS vs As Reported Weekly Highlights - Asia - 2020 06 05
This week, Valens identified distortions and the corresponding adjustments to correct for those distortions for 2587:JPN, 300045:CHN, and 600446:CHN.Hwa Create Corporation is a China-based company principally engaged in electronic information business and rail transportation equipment business. The Company conducts its businesses through five segments. The Satellite Application segment mainly provides terminal and system level products and services based on BeiDou Navigation Satellite System. The Radar and Communication Service segment mainly provides testing instruments and equipment products. The Simulation Testing segment mainly provides standardized products, bus test systems and customized system simulation solutions. The Rail Transit segment mainly provides rail transit platform screen door systems and tregenerative braking energy inverter absorption devices for customers. The Unmanned Platform segment is mainly engaged in the research, development and manufacture of drones.
Shenzhen Kingdom Technology is engaged in the technology development, production and sale of computer application system and supplementary equipment; purchase and sale of electronic products, telecommunication equipment and machinery equipment; domestic trading; import and export businesses; and purchase, sale and installation of professional acoustics, lighting, multimedia display, and close-circuit monitoring equipment. Through its subsidiaries, Co. is also engaged in the development of computer software; provisions of technology development, transfer, training, and consultation services; and undertake of computer network engineering.
Suntory Beverage & Food is a food and beverage services group based in Japan. Co. operates in five geographical business segments: Japan, Europe, Asia, Oceania and the Americas. Co. is mainly engaged in the manufacture and sale of various soft drinks, including mineral water, ready-to drink (RTD) coffee, RTD tea, carbonates, functional drinks, fruit juices, and processed food. Co.'s principal brands are "Suntory Tennensui," "Boss," "Iyemon," "Green DAKARA," "Pepsi," "Mountain Dew," "Orangina," "C.C.Lemon," "Natchan!," "Dekavita C," "Schweppes," "Oasis," "Ribena," "Lucozade sport," "MYTEA," "JUST JUICE," "Gatorade," and "BRAND'S Essence of Chicken."
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.