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

Grab Goes Public: Expanding Top Line but No Profits; Proposed Valuation Seems Excessively Ambitious

Grab: SOTP Suggests Steep Discount to Proposed SPAC Valuation

We Doctor Pre-IPO: Front-Runner in Digital Medical Services in China

ADR/HKEX Analysis: Lower Trading Volumes on HKEX Show Limited Liquidity Compared to the US

Trip.com Secondary: Further Upside to SOTP Possible with Recovery in Travel and Hospitality Sector

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

Zhaoke Ophthalmology Pharmaceutical / Equity Capital Markets

Zhaoke Ophthalmology Pharmaceutical (6622 HK)

<a href="https://www.smartkarma.com/entities/zhaoke-ophthalmology-pharmaceutical" target="_blank" data-smartkarma-citation="entities:31495:1" rel="noopener">Zhaoke Ophthalmology Pharmaceutical (ZKO HK)</a>  is an ophthalmic pharmaceutical company in China dedicated to the research and development and commercialisation of therapies. The company has an ophthalmic drug pipeline of 25 candidates that covers most major ocular indications that affect the front and the back of the eye either through in-house development or in-licensing. According to CIC, the company has one of the most comprehensive ophthalmic drug pipelines in China.Zhaoke has filed for an IPO to list its shares on the Hong Kong Stock Exchange and plans to raise proceeds of about US$200m through the IPO.The company currently does not have any products approved for commercial sale; hence the company does not generate any revenues from product sales. However, the company’s drug development pipeline includes a few late stage drug candidates that have the potential to become market-leading products.

Zhaoke Ophthalmology Pharmaceutical (ZKO HK)  is an ophthalmic pharmaceutical company in China dedicated to the research and development and commercialisation of therapies. The company has an ophthalmic drug pipeline of 25 candidates that covers most major ocular indications that affect the front and the back of the eye either through in-house development or in-licensing. According to CIC, the company has one of the most comprehensive ophthalmic drug pipelines in China.Zhaoke has filed for an IPO to list its shares on the Hong Kong Stock Exchange and plans to raise proceeds of about US$200m through the IPO.The company currently does not have any products approved for commercial sale; hence the company does not generate any revenues from product sales. However, the company’s drug development pipeline includes a few late stage drug candidates that have the potential to become market-leading products.

Zhaoke Opthalmology IPO: Promising Drug Candidates; but Commercialisation May Take Longer