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

EQD | Tencent (700 HK): Time to Take off Hedges and Leverage up Using Options

Tencent Seeks Majority Stake in Overseas Game Companies as Game Revenue Slows Down Further

Does Meituan Have the Appetite to Serve HK Food Delivery Market and Take On Foodpanda and Deliveroo?

Tencent: Excluded Again from New Game Approvals as NetEase Makes into the Approved List

JD Health: Slowdown in User Growth Is No Big Concern

Meituan: Earnings Beat Estimates but Sudden Change in Segmental Disclosure Is Dubious

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 Bottom-Up

<ul>
<li>Tencent known to outspend its peers on strategic investments, has made only around 80 investments and acquisitions so far this year compared to more than 200 deals done in 2021.</li>
<li>Tencent’s vast investment portfolio has attracted regulatory scrutiny and it’s the market’s belief that Tencent was asked to divest some of its stake in other leading tech players in China.</li>
<li>However, over the last few months, Tencent has been increasingly investing on companies operating in the medical field.</li>
</ul>


Tencent known to outspend its peers on strategic investments, has made only around 80 investments and acquisitions so far this year compared to more than 200 deals done in 2021.
Tencent’s vast investment portfolio has attracted regulatory scrutiny and it’s the market’s belief that Tencent was asked to divest some of its stake in other leading tech players in China.
However, over the last few months, Tencent has been increasingly investing on companies operating in the medical field.


Jiangsu Yuyue Medical Equipment & Supply A (002223 CH)

Jiangsu Yuyue Medical Equipment & Supply A

Ping An Healthcare and Technology (1833 HK)

Shenzhen Mindray Bio-Medical Electronics (300760 CH)

Tencent Increases Its Investment in Medical and Healthcare