Equity Analyst, LightStream Research

Oshadhi Kumarasiri

An equity research analyst with over 7 years of experience in multiple sectors. Previously worked for one of the world's largest asset managers with about USD2.5trn in AUM, covering small and micro-cap companies in the consumer sphere across Europe and developed Asia. Also experienced in covering multiple industries including banking, insurance and asset management, retail, tech, telco and REIT.

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

Alibaba Group Holding  / Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba Group (BABA US)</a>’s share price took a beating over the last few months. It began when Chinese regulators halted the $35 billion IPO of Alibaba spinoff, <a href="https://www.smartkarma.com/entities/ant-financial-services-group" target="_blank" data-smartkarma-citation="entities:24240:1" rel="noopener">Ant Group (6688 HK)</a>, the world's largest financial technology company. Afterwards, China’s top antitrust watchdog, The State Administration for Market Regulation (SAMR), fined Alibaba for not making adequate declarations to authorities about past acquisitions and also filled an investigation into Alibaba’s suspected monopolistic practices. Then, The People's Bank of China ordered Ant group to formulate a rectification plan and an implementation timetable to comply with new regulatory and anti-monopoly requirements. Meanwhile, the founder of Alibaba, Jack Ma went missing for months.</p><p>This is probably the worst time period in Alibaba’s history. Therefore, a lot of pressure was on Alibaba yesterday to release strong 3QFY21 results. Although not amazing, the company managed to beat consensus revenue and OP by 3.0% and 3.2% respectively.</p>

Alibaba Group (BABA US)’s share price took a beating over the last few months. It began when Chinese regulators halted the $35 billion IPO of Alibaba spinoff, Ant Group (6688 HK), the world's largest financial technology company. Afterwards, China’s top antitrust watchdog, The State Administration for Market Regulation (SAMR), fined Alibaba for not making adequate declarations to authorities about past acquisitions and also filled an investigation into Alibaba’s suspected monopolistic practices. Then, The People's Bank of China ordered Ant group to formulate a rectification plan and an implementation timetable to comply with new regulatory and anti-monopoly requirements. Meanwhile, the founder of Alibaba, Jack Ma went missing for months.This is probably the worst time period in Alibaba’s history. Therefore, a lot of pressure was on Alibaba yesterday to release strong 3QFY21 results. Although not amazing, the company managed to beat consensus revenue and OP by 3.0% and 3.2% respectively.

Alibaba Group Holding

Alibaba 3QFY21: Not Out of The Woods Yet