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

TME: Says Order on Music Rights Have Some Impact but User No’s and ARPPU Already Under Pressure

Tencent: Weakening Online Games; Cautions Investors that More Regulatory Changes Are to Come

Bilibili: Mobile Games Decline and Losses Expand but Other Verticals Continue to Grow

Cloud Village IPO: Improving Financials and Less Fear of Regulatory Crackdowns for Investors

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

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 Capital Markets

The users for online music entertainment in China continue to grow driven by increasing demand for online entertainment, growing awareness of copyrights, popularisation of mobile internet and growing internet penetration. China’s online music entertainment market is largely dominated by <a href="https://www.smartkarma.com/entities/tencent-music-entertainment" target="_blank" data-smartkarma-citation="entities:27255:1" rel="noopener">Tencent Music (TME US)</a> with a market share of 72.8% followed by <a href="https://www.smartkarma.com/entities/cloud-village-inc" target="_blank" data-smartkarma-citation="entities:33412:1" rel="noopener">Cloud Village (CLV HK)</a>  with a share of 20.5%.Having access to exclusive music licensing agreements helped TME dominate the Chinese online music entertainment market, however, the Chinese regulators have ordered TME to give-up on exclusive rights to labels which should offer a more level playing field for other players in the market including Cloud Village.In this insight, we compare and contrast Cloud Village against its closest peer TME as the former prepares for its most anticipated HKEx debut.

The users for online music entertainment in China continue to grow driven by increasing demand for online entertainment, growing awareness of copyrights, popularisation of mobile internet and growing internet penetration. China’s online music entertainment market is largely dominated by Tencent Music (TME US) with a market share of 72.8% followed by Cloud Village (CLV HK)  with a share of 20.5%.Having access to exclusive music licensing agreements helped TME dominate the Chinese online music entertainment market, however, the Chinese regulators have ordered TME to give-up on exclusive rights to labels which should offer a more level playing field for other players in the market including Cloud Village.In this insight, we compare and contrast Cloud Village against its closest peer TME as the former prepares for its most anticipated HKEx debut.

CV Vs TME: Improving Financials and Outspending TME on Content Cost - Reason for Absence of Profits