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

Xiaomi Beats Apple to Become No. 2 in the Global Smartphone Market in 2Q2021

Xiaomi Exodus:  Confidence Fading Among Active China Investors

IFast 2Q: Strong Earnings; Winning Malaysian Digital Banking License Could Be a Near-Term Catalyst

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

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

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

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

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

<div>The Chinese mobile games and video platform <a href="https://www.smartkarma.com/entities/bilibili-inc" target="_blank" data-smartkarma-citation="entities:26793:1" rel="noopener">Bilibili Inc (BILI US)</a> ’s shares have dropped 30.3% to US$109.01 per ADS from its peak of US$156.37 per ADS in mid-February 2021 due to the widening antitrust probe and cyberspace crackdown on Chinese tech companies, those that are listed in the US in particular.</div><div></div><div><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/219/144/original/image_47137449531626634981381.png?1626634982" class="editor-image img-responsive" data-smartkarma-image-id="219144"></figure></div><div>However, considering Bilibili’s business operations and its not so dominant market share in the Chinese mobile games and video streaming markets, we believe Bilibili is less likely to be probed by the Chinese antitrust authorities and the current drop in the company’s share price offers a good point of entry.</div>

The Chinese mobile games and video platform Bilibili Inc (BILI US) ’s shares have dropped 30.3% to US$109.01 per ADS from its peak of US$156.37 per ADS in mid-February 2021 due to the widening antitrust probe and cyberspace crackdown on Chinese tech companies, those that are listed in the US in particular.However, considering Bilibili’s business operations and its not so dominant market share in the Chinese mobile games and video streaming markets, we believe Bilibili is less likely to be probed by the Chinese antitrust authorities and the current drop in the company’s share price offers a good point of entry.

Bilibili

Bilibili: Buy the Dip