Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, CGMA

A chartered management accountant with more than 10 years of rich experience in investment research and financial analysis. Worked as an equity analyst for one of the world's largest asset managers with USD2.5trn in AUM covering numerous sectors including chemicals, retail, tech, autos, telco, real-estate and banks, globally. Experienced in fundamental equity research, industry research, commodity studies, forensic accounting, and due diligence reviews.

Equity Analyst

Kuaishou: Online Ad Drives Top Line Growth; Margins to Remain Under Pressure with Overseas Expansion

Zhangmen Education IPO: Risks Outweigh the Very Few Positives

Bilibili: Diversified Revenue Streams and Impressive Top Line Growth Justify Current Multiples

Bilibili in Talks to Buy 24% Stake in Yoozoo Games to Enhance and Strengthen Content Offerings

Ximalaya IPO (Part II): Unlikely for Margins to Improve in the Medium-Term (Quantamental)

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

GSX TechEdu: China Fines Online Tutoring Apps for Making Misleading Claims; Is GSX Next?

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

<p><a href="https://www.smartkarma.com/entities/bilibili-inc" target="_blank" data-smartkarma-citation="entities:26793:1" rel="noopener">Bilibili Inc (BILI US)</a>  reported 1Q2021 results yesterday (13<sup>th</sup> May) which saw revenues growing 68.4% YoY to RMB3.9bn while operating losses for the quarter increased to 26.4% of revenues compared to 23.5% in 1Q2020. The revenue for the quarter beat consensus estimates by 3.9% while Bilibili’s operating losses for the quarter were slightly higher than consensus estimates.</p>

Bilibili Inc (BILI US)  reported 1Q2021 results yesterday (13th May) which saw revenues growing 68.4% YoY to RMB3.9bn while operating losses for the quarter increased to 26.4% of revenues compared to 23.5% in 1Q2020. The revenue for the quarter beat consensus estimates by 3.9% while Bilibili’s operating losses for the quarter were slightly higher than consensus estimates.

Bilibili 1Q2021 Results: Value-Added Services and Advertising Drive Revenue Beat