Steven Towns
Steven Towns
Send Message
Steven Towns
Stop FollowingSteven Towns
More on SHI by Steven Towns
COMMENTS STATS
271 Comments
87 Likes

Earnings Quality Issues for NYSE China Listings [View article]
China Petroleum & Chemical [Sinopec] (SNP) is said to have a "board packed with inside cronies; loads of deals done with related government entities."
PetroChina (PTR) -- "Stretching payments to creditors; negative net working capital."
China Life Insurance (LFC) -- "Mortality projections wishful; accounts under Communist accounting standards appear to lack audit opinion."
Yanzhou Coal Mining (YZC) -- "Lowballing of doubtful accounts may indicate earnings manipulation; environmental liabilities possible time bomb."
Sinopec Shanghai Petrochemical (SHI) -- "FCF negative in 2006; new reserves for doubtful accounts declining."