Shulou(Shulou.com)11/24 Report--

CTOnews.com June 26 news, short institutions Gotham City Research LLC recently released a report, pointing out that the French electronic shelf label giant SES-imagotag and large shares Tokyo Oriental improper financial operations, in order to falsely increase revenue.

▲ source: SES-imagotag, the same as the report below, SES-imagotag 's major shareholder BOE wants to stop its exclusive support for SES-imagotag electronic shelf labels, so it sold a large number of its SES-imagotag shares in 2021 and 2022. To boost earnings, BOE and SES-imagotag carried out improper financial operations to inflate SES-imagotag revenue, causing SES-imagotag to report higher analysts' expectations, thereby driving up the share price.

According to reports, SES-imagotag was founded in 1992 and listed on Euronext in Paris in 2006. JD.com SES acquired a 70 per cent stake in SES-imagotag in June 2017, making it its largest shareholder, and BOE still holds about 32 per cent.

CTOnews.com collates the Gotham City Research LLC report as follows:

Accounting standards are too radical to capitalize R & D expenses that belong to operating expenses.

Free cash flow is negative for a long time, and the business lacks profitability.

The unfavorable conditions of cooperation with Wal-Mart will cause the company to lose money.

The joint venture with BOE in China does not carry out actual business.

Fabricate revenue from cloud software services that do not exist

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