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

JD Logistics IPO Valuation: Implied Offer Multiples Are Not Cheap but Justifiable

Angelalign Technology IPO: No Misalignment

Zhangmen Education IPO: Risks Outweigh the Very Few Positives

JD Logistics: Investment for Growth to Hurt Margins in the Medium-Term but Key to Long-Term Profits

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

JD Logistics IPO: Financial Forecasts and Initial Thoughts on Rumoured US$40.0bn Valuation

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

GSX TechEdu: China Fines Online Tutoring Apps for Making Misleading Claims; Is GSX Next?

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

<a href="https://www.smartkarma.com/entities/jd-logistics" target="_blank" data-smartkarma-citation="entities:31500:1" rel="noopener">JD Logistics (JDL HK)</a> , the delivery arm of China’s second largest e-commerce platform JD.com has filed for an IPO to list its shares on the Hong Kong Stock Exchange. According to news media outlets, JD Logistics is looking to raise about US$3-4bn through the IPO. The company won the approval for its HKEX listing and released its post-hearing information pack (PHIP) on Sunday (02nd May). On Thursday (13th May), JD Logistics released its revised PHIP and this insight focuses on new data points from the revised filing.

JD Logistics (JDL HK) , the delivery arm of China’s second largest e-commerce platform JD.com has filed for an IPO to list its shares on the Hong Kong Stock Exchange. According to news media outlets, JD Logistics is looking to raise about US$3-4bn through the IPO. The company won the approval for its HKEX listing and released its post-hearing information pack (PHIP) on Sunday (02nd May). On Thursday (13th May), JD Logistics released its revised PHIP and this insight focuses on new data points from the revised filing.

JD Logistics: Margins Sink as JDL Prioritises Market Share but Peer Margins Shrink Too in 1Q21