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

Tuya IPO Trading Update: Recent Drop in Stock Price Offers a Good Entry Point

Tencent Music Announces US$1bn Buyback After Shares Dip Double-Digit

JD Health 2020 Results: Strong Top Line Growth; Slight Decline in Margins Is Less of a Concern

Zhihu IPO Valuation: Attractive at the Lower End of the IPO Pricing

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

Smart Share Global / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/energy-monster" target="_blank" data-smartkarma-citation="entities:32217:1" rel="noopener">Smart Share Global (EM US)</a> provides smart mobile device charging services in China through its offline and online network. The company was ranked the largest mobile device charging service provider in China with a market share of 34.4% in terms of gross revenues in 2020 (Source: iResearch).The company has filed for an IPO to list its shares in the US and plans to issue 17.5m American Depository Shares (ADSs) at an indicative IPO price range of US$10.5-12.5 per ADS. At the midpoint of the above price range of US$11.5 per ADS, Smart Share will raise net proceeds of approx. US$183.6m.In this insight, we examine the company’s business model, segments, outlook and financials. We plan to cover the company’s valuation in a follow-up insight.

Smart Share Global (EM US) provides smart mobile device charging services in China through its offline and online network. The company was ranked the largest mobile device charging service provider in China with a market share of 34.4% in terms of gross revenues in 2020 (Source: iResearch).The company has filed for an IPO to list its shares in the US and plans to issue 17.5m American Depository Shares (ADSs) at an indicative IPO price range of US$10.5-12.5 per ADS. At the midpoint of the above price range of US$11.5 per ADS, Smart Share will raise net proceeds of approx. US$183.6m.In this insight, we examine the company’s business model, segments, outlook and financials. We plan to cover the company’s valuation in a follow-up insight.

Smart Share Global IPO: Surviving in a Competitive Market