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

Bilibili Vs Huya:Strong Top Line Growth; Outspending Huya on Marketing-Reason for Absence of Profits

Kuaishou IPO Valuation: Attractive Valuation

Cloopen Group IPO: Growing Demand for Cloud Communications and IoT in China to Drive Growth

17 Edu & Tech IPO Valuation: Fairly Valued at the Lower End of the IPO Pricing

17 Education & Tech IPO: Another Online Education Provider with No Clear Path to Profitability

Kuaishou IPO: Broadly Outperforming Peers; Profits Should Materialise as Sales and Marketing Falls

Kuaishou (PHIP): Monetisation of Online Marketing and Others Help Offset Decline in Live Streaming

Yidu Tech IPO Valuation: Attractive at the Low-End but Superior Growth Profile Justifies the Premium

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

First High-School Education / Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/first-high-school-education" target="_blank" data-smartkarma-citation="entities:31365:1" rel="noopener">First High-School Education (FHS US)</a>  operates private high schools and provides online tutoring services in China. As at the end of September 2020, the company had a network of 19 schools offering 14 high school programs, seven middle school programs and four tutorial school programs for Gaokao repeaters.</p><p>The company has filed to list its shares in the US and has a placeholder indication to raise about US$100m through the IPO. In this insight, we examine the company’s business model, its revenues and margins.</p>

First High-School Education (FHS US)  operates private high schools and provides online tutoring services in China. As at the end of September 2020, the company had a network of 19 schools offering 14 high school programs, seven middle school programs and four tutorial school programs for Gaokao repeaters.The company has filed to list its shares in the US and has a placeholder indication to raise about US$100m through the IPO. In this insight, we examine the company’s business model, its revenues and margins.

First High-School Education IPO: High-Flyer