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

Xiaomi (1810 HK): 2Q21, Not Just Higher Growth, Margins Up in All Businesses

Novotech Health IPO: Structural Tailwinds in the APAC Biotech CRO Market Offers LT Growth

Xiaomi Beats Apple to Become No. 2 in the Global Smartphone Market in 2Q2021

Kuaishou: Livestreaming Continues to Decelerate, Losses Widen; No Disclosure on Paying User Numbers

Bilibili: Mobile Games Decline and Losses Expand but Other Verticals Continue to Grow

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

<a href="https://www.smartkarma.com/entities/xiaomi-corp" target="_blank" data-smartkarma-citation="entities:24409:1" rel="noopener">Xiaomi Corp (1810 HK)</a> reported its 2Q2021 results on Wednesday (25th August) which saw revenues grow 64.0% YoY to RMB88bn (vs consensus revenue of RMB84.1bn) while reported operating profit for the quarter grew 98.1% to RMB10.7bn (vs consensus OP of RMB6.2bn). The adjusted operating profit for the quarter grew 194.1% to RMB5.5bn excluding fair value changes and share of profit from investments accounted for using the equity method.In our previous insight on Xiaomi, we highlighted that the company has beaten iPhone maker Apple to become the second-largest smartphone maker in the world with a market share of 16.7% based on the shipment volume in the second quarter of 2021 (source: Canalys).Xiaomi also announced that it has agreed to acquire autonomous driving technology company Deepmotion for US$77.3m as the company focuses on electric vehicles for growth.

Xiaomi Corp (1810 HK) reported its 2Q2021 results on Wednesday (25th August) which saw revenues grow 64.0% YoY to RMB88bn (vs consensus revenue of RMB84.1bn) while reported operating profit for the quarter grew 98.1% to RMB10.7bn (vs consensus OP of RMB6.2bn). The adjusted operating profit for the quarter grew 194.1% to RMB5.5bn excluding fair value changes and share of profit from investments accounted for using the equity method.In our previous insight on Xiaomi, we highlighted that the company has beaten iPhone maker Apple to become the second-largest smartphone maker in the world with a market share of 16.7% based on the shipment volume in the second quarter of 2021 (source: Canalys).Xiaomi also announced that it has agreed to acquire autonomous driving technology company Deepmotion for US$77.3m as the company focuses on electric vehicles for growth.

Xiaomi: Market Share Gains Support Revenue Beat; Acquires Deepmotion to Focus on EVs