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

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J&T Global Express IPO: Peer Comparison and Valuation

4Paradigm IPO: Thoughts on First Day Trading

J&T Global Express IPO: SEA Margins Declining and Other Businesses Far from Profitability

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

J&T Global Express  / Equity Capital Markets

<ul>
<li>Global logistics and express delivery service provider J&amp;T Express’ HKEx IPO application has been approved and this insight focuses on new data points from the PHIP filings.</li>
<li>SEA segment’s GPM has further declined during 1H2023, however, gross losses of the other two segments have declined significantly resulting in GPM for the company.</li>
<li>Our analysis suggests that with falling SEA margins, <a href="https://www.smartkarma.com/entities/j-t-global-express-co-ltd" target="_blank" data-smartkarma-citation="entities:36819:1" rel="noopener">J&amp;T Global Express (1936374D CH)</a> may not be able to generate operating profits in the medium-term.</li>
</ul>


Global logistics and express delivery service provider J&amp;T Express’ HKEx IPO application has been approved and this insight focuses on new data points from the PHIP filings.
SEA segment’s GPM has further declined during 1H2023, however, gross losses of the other two segments have declined significantly resulting in GPM for the company.
Our analysis suggests that with falling SEA margins, J&amp;T Global Express (1936374D CH) may not be able to generate operating profits in the medium-term.


J&T Global Express

J&T Global Express IPO: PHIP Updates