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

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

First High-School Education IPO: High-Flyer

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

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

Kuaishou Pre-IPO: Strengthening Top Line and Ample Monetisation Opportunities

Kuaishou IPO: Stable Profits Seem Possible with Cost Discipline and Expanding Revenues

Yidu Tech IPO: Seems to Have a Clear Path to Profits

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

Kuaishou Technology / Equity Capital Markets

The Chinese short-video and livestreaming platform <a href="https://www.smartkarma.com/entities/beijing-kuaishou-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:29725:1" rel="noopener">Beijing Kuaishou Technology Co Ltd (1496219D CH)</a> has filed for an IPO to list its shares on the Hong Kong Stock Exchange. The company aims to raise up to US$5bn at a rumoured valuation of over US$50bn.The company generates a majority of its revenues from live streaming (through virtual gifting) however, online marketing services and other services (e-commerce and other services) have been growing at higher rates over the last two years which we believe should drive future growth for Kuaishou.In our previous insights on the company’s IPO, we discussed in detail Kuaishou’s business model, segments, cost and margins. Kuaishou’s post-hearing information pack (PHIP) was released on Friday, and this insight focuses on new data points from the company’s PHIP updates.Read our previous insights:<a href="https://www.smartkarma.com/insights/kuaishou-pre-ipo-strengthening-top-line-and-ample-monetisation-opportunities" target="_blank" data-smartkarma-citation="insights:46027" rel="noopener">Kuaishou Pre-IPO: Strengthening Top Line and Ample Monetisation Opportunities</a> <a href="https://www.smartkarma.com/insights/kuaishou-ipo-stable-profits-seem-possible-with-cost-discipline-and-expanding-revenues" target="_blank" data-smartkarma-citation="insights:46570" rel="noopener">Kuaishou IPO: Stable Profits Seem Possible with Cost Discipline and Expanding Revenues</a> <a href="https://www.smartkarma.com/insights/kuaishou-ipo-advertising-and-e-commerce-businesses-to-drive-future-growth" target="_blank" data-smartkarma-citation="insights:45358" rel="noopener">Kuaishou IPO: Advertising and E-Commerce Businesses to Drive Future Growth</a>

The Chinese short-video and livestreaming platform Beijing Kuaishou Technology Co Ltd (1496219D CH) has filed for an IPO to list its shares on the Hong Kong Stock Exchange. The company aims to raise up to US$5bn at a rumoured valuation of over US$50bn.The company generates a majority of its revenues from live streaming (through virtual gifting) however, online marketing services and other services (e-commerce and other services) have been growing at higher rates over the last two years which we believe should drive future growth for Kuaishou.In our previous insights on the company’s IPO, we discussed in detail Kuaishou’s business model, segments, cost and margins. Kuaishou’s post-hearing information pack (PHIP) was released on Friday, and this insight focuses on new data points from the company’s PHIP updates.Read our previous insights:Kuaishou Pre-IPO: Strengthening Top Line and Ample Monetisation Opportunities Kuaishou IPO: Stable Profits Seem Possible with Cost Discipline and Expanding Revenues Kuaishou IPO: Advertising and E-Commerce Businesses to Drive Future Growth 

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