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

JD.com (JD US): Robust Growth, Impressive Core Profit

JD.com (JD US): Solid Growth Flying Under the Radar

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.

Event-Driven

<p>Following the listing of the logistics business on the Hong Kong stock exchange, <a href="https://www.smartkarma.com/entities/jd-com-inc-adr" target="_blank" data-smartkarma-citation="entities:446:1" rel="noopener">JD.com Inc (ADR) (JD US)</a> could potentially present investors with an entirely new investment angle in terms of holdcos.</p><p>After examining JD.com’s holdco structure, we see a limited upside potential for JD.com unless <a href="https://www.smartkarma.com/entities/jd-logistics" target="_blank" data-smartkarma-citation="entities:31500:1" rel="noopener">JD Logistics (2618 HK)</a> pops over 100% on its trading debut.</p>

Following the listing of the logistics business on the Hong Kong stock exchange, JD.com Inc (ADR) (JD US) could potentially present investors with an entirely new investment angle in terms of holdcos.After examining JD.com’s holdco structure, we see a limited upside potential for JD.com unless JD Logistics (2618 HK) pops over 100% on its trading debut.

Examining JD.com from a Holdco Angle as the Company Prepares to List Its Logistics Unit