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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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

<a href="https://www.smartkarma.com/entities/manycore-tech-inc-adr" target="_blank" data-smartkarma-citation="entities:33517:1" rel="noopener">Manycore Tech (KOOL US)</a>  operates a design software platform in China which offers 3D interior design, decoration and construction for residential, commercial and industrial spaces. According to iResearch, Manycore was the world’s largest platform for 3D interior design, decoration and construction in terms of the number of average monthly active users (MAUs) in 1Q2021.The company has filed for an IPO to list its shares in the US and has a placeholder indication to raise about US$ 100m.The interior DDC (design, decoration and construction) software market is forecasted to see rapid growth in China and in overseas markets driven by increasing trend for digital transformation and growing penetration of cloud-based software. Manycore’s revenues have continued to see strong growth over the last three years driven by increase in the number of paid subscribers, the enterprise customers in particular. The company also has expanded its operations outside of China and revenue from overseas markets have seen rapid growth. The company has not yet been able to generate any profits, however, we expect the company’s profitability to gradually improve with better pricing and stable costs.

Manycore Tech (KOOL US)  operates a design software platform in China which offers 3D interior design, decoration and construction for residential, commercial and industrial spaces. According to iResearch, Manycore was the world’s largest platform for 3D interior design, decoration and construction in terms of the number of average monthly active users (MAUs) in 1Q2021.The company has filed for an IPO to list its shares in the US and has a placeholder indication to raise about US$ 100m.The interior DDC (design, decoration and construction) software market is forecasted to see rapid growth in China and in overseas markets driven by increasing trend for digital transformation and growing penetration of cloud-based software. Manycore’s revenues have continued to see strong growth over the last three years driven by increase in the number of paid subscribers, the enterprise customers in particular. The company also has expanded its operations outside of China and revenue from overseas markets have seen rapid growth. The company has not yet been able to generate any profits, however, we expect the company’s profitability to gradually improve with better pricing and stable costs.

Manycore IPO: Overshadowed by the Chinese Regulatory Crackdown