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 Health Pre-IPO: Poised to Benefit from Structural Changes in Healthcare in China and the Pandemic

GDS Secondary: Quantamental Analysis Reveals Limited Room for Margin Expansion

Lufax IPO: Peer Comparison Reveals Change in Strategy Weighs Heavy on Company Performance

IFast: The Chance of Winning the MPF Project Is Narrow; but We Remain Positive on Future Prospects

Lufax IPO: Unsecured Loans Drive Top Line Growth but Risks Remain Despite Capital-Light Model

OneConnect Financial Technology: Still Trying to Tie up Loose Ends

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

MR DIY IPO: Inexpensive Valuation Compared to Peers Despite Better Growth Profile

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

Lufax Holdings, one of the largest financial services platforms in China has filed for an IPO in the US. The Shanghai-headquartered firm offers personal lending for small business owners and salaried employees, as well as tailor-made wealth management solutions to China’s fast growing middle-class and affluent population.This is the Second of a series of reports on the IPO of Lufax Holdings. In this insight, we examine the company’s wealth management business and margins. In our previous insight on the company’s IPO, we examined the company’s business model, revenue sources and its core income generating business, Retail Credit Facilitation Business.Read our previous insight:<a href="https://www.smartkarma.com/insights/lufax-ipo-unsecured-loans-drive-top-line-growth-but-risks-remain-despite-capital-light-model" target="_blank" data-smartkarma-citation="insights:44132" rel="noopener">Lufax IPO: Unsecured Loans Drive Top Line Growth but Risks Remain Despite Capital-Light Model</a>

Lufax Holdings, one of the largest financial services platforms in China has filed for an IPO in the US. The Shanghai-headquartered firm offers personal lending for small business owners and salaried employees, as well as tailor-made wealth management solutions to China’s fast growing middle-class and affluent population.This is the Second of a series of reports on the IPO of Lufax Holdings. In this insight, we examine the company’s wealth management business and margins. In our previous insight on the company’s IPO, we examined the company’s business model, revenue sources and its core income generating business, Retail Credit Facilitation Business.Read our previous insight:Lufax IPO: Unsecured Loans Drive Top Line Growth but Risks Remain Despite Capital-Light Model 

Lufax IPO: Shift in Product Mix and Higher Customer Acquisition Cost Eat into Profits