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

Change Follow-On Offering: Worth Subscribing For

Bairong IPO Valuation: Appealing Valuation

Bilibili: Secondary Listing in HK Offers a Good Alternative to Kuaishou

Bilibili: Diversified Revenue Streams and Impressive Top Line Growth Justify Current Multiples

Bairong IPO: Big Data for Credit and Risk Management

Kuaishou IPO Trading Update: Further Upside Seems Limited; We Are Looking for Exit Points

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

Zhihu Technology / Equity Capital Markets

Known as China’s answer to Quora, <a href="https://www.smartkarma.com/entities/zhihu-technology-ltd" target="_blank" data-smartkarma-citation="entities:32185:1" rel="noopener">Zhihu Technology (ZH US)</a>  has filed for an IPO to list its shares in the US and according to news media outlets, the company could seek up to US$1bn through the IPO. According to CIC, Zhihu is the largest Q&amp;A-inspired online community and one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenues in 2020.China’s online content community market is still in early stages and is forecasted to grow at a CAGR of 23.9% over 2019-2025. As the Chinese online content community market offers diversified monetisation channels, Zhihu has been trying to expand its revenue streams through different initiatives such as online advertising, paid memberships, content e-commerce and online education.Though the company’s top line has been expanding, Zhihu has not yet been able to make operating profits as the company has been aggressively spending on selling and marketing expenses to expand its user base.

Known as China’s answer to Quora, Zhihu Technology (ZH US)  has filed for an IPO to list its shares in the US and according to news media outlets, the company could seek up to US$1bn through the IPO. According to CIC, Zhihu is the largest Q&amp;A-inspired online community and one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenues in 2020.China’s online content community market is still in early stages and is forecasted to grow at a CAGR of 23.9% over 2019-2025. As the Chinese online content community market offers diversified monetisation channels, Zhihu has been trying to expand its revenue streams through different initiatives such as online advertising, paid memberships, content e-commerce and online education.Though the company’s top line has been expanding, Zhihu has not yet been able to make operating profits as the company has been aggressively spending on selling and marketing expenses to expand its user base.

Zhihu IPO: Searching for One-Hit Wonder Amidst Diversified Monetisation Channels