Equity Analyst, LightStream Research

Shifara Samsudeen, FCMA, CGMA

Equity Analyst

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

GoTo Gojek Tokopedia Tbk PT / Equity Capital Markets

<ul>
<li>As 2022 comes to an end, we revisit our IPO calls over the last 12-months and how these stocks have performed to assess the effectiveness of our calls.</li>
<li>We made explicit buy/sell calls on 12 IPOs during this period with a hit-rate of 83.3% with Grab, GoTo, Cloud Music, SenseTime and Leapmotor IPOs making the highest returns.</li>
<li>We also wrote on several other IPOs during this period, however, those IPOs have not received approval yet.</li>
</ul>


As 2022 comes to an end, we revisit our IPO calls over the last 12-months and how these stocks have performed to assess the effectiveness of our calls.
We made explicit buy/sell calls on 12 IPOs during this period with a hit-rate of 83.3% with Grab, GoTo, Cloud Music, SenseTime and Leapmotor IPOs making the highest returns.
We also wrote on several other IPOs during this period, however, those IPOs have not received approval yet.


Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Bottom-Up

<ul>
<li>Chinese online game market size decreased by 19.1% YoY and 12.6% QoQ in 3Q22.</li>
<li>Tmall, Alibaba’s direct sales app, started a mini-program in Tencent’s WeChat.</li>
<li>State Post Bureau announced that it would revise the express delivery rules, especially for green packaging.</li>
</ul>


Chinese online game market size decreased by 19.1% YoY and 12.6% QoQ in 3Q22.
Tmall, Alibaba’s direct sales app, started a mini-program in Tencent’s WeChat.
State Post Bureau announced that it would revise the express delivery rules, especially for green packaging.


China Internet Weekly (24Oct2022): Tencent, Alibaba, Kuaishou, JD.com, NetEase, Zhihu

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul>
<li>
In Depth: As mass Covid testing becomes China’s new normal, debate grows over who pays.
</li>
<li>
Climate issues shouldn’t bear political labels, U.S. envoy says.
</li>
<li>
China’s premier puts greater emphasis on growth.
</li>
</ul>



In Depth: As mass Covid testing becomes China’s new normal, debate grows over who pays.


Climate issues shouldn’t bear political labels, U.S. envoy says.


China’s premier puts greater emphasis on growth.



CX Daily: As Mass Covid Testing Becomes China’s New Normal, Debate Grows Over Who Pays

<ul><li>In Depth: China’s plan to overhaul its $3.7 trillion mutual fund industry</li><li>Exclusive: Davos photo used by U.S. Congressman to criticize China didn’t show anyone Chinese</li><li>China pours on billions of dollars more in tax relief</li></ul>

In Depth: China’s plan to overhaul its $3.7 trillion mutual fund industryExclusive: Davos photo used by U.S. Congressman to criticize China didn’t show anyone ChineseChina pours on billions of dollars more in tax relief

CX Daily: China’s Plan to Overhaul Its $3.7 Trillion Mutual Fund Industry

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

LG Energy Solution / Equity Capital Markets

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>On the IPOs front, Campus Activewear and Rainbow Hospitals will get India's IPO season going again, with LIC in the pipeline.</li>
<li>Placement flows remained slow over the holiday shortened week. With only Taiwan and India seeing deals.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
On the IPOs front, Campus Activewear and Rainbow Hospitals will get India's IPO season going again, with LIC in the pipeline.
Placement flows remained slow over the holiday shortened week. With only Taiwan and India seeing deals.


ECM Weekly (24th Apr 22) - Sk Shieldus, One Store, LIC, Campus, Rainbow, Zhihu, LG Energy, Shin Kong

China

Zhihu Inc. operates as an online share knowledge community. The Company provides a socialized website for questions and answers which enables users to obtain information through questions that provoke the opinions and views from answerers as individuals. Zhihu conducts businesses in China.

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Zhihu Technology (ZH US)

Our IPO Calls for 2022

As 2022 comes to an end, we revisit our IPO calls for 2022 and assess the performance of these calls which had a hit rate of 83.3%. Some of the...

Shifara Samsudeen, FCMA, CGMA

China Internet Weekly (24Oct2022): Tencent, Alibaba, Kuaishou, JD.com, NetEase, Zhihu

Chinese online game market size decreased by 19.1% YoY and 12.6% QoQ in 3Q22. Tmall started a mini-program in WeChat. State Post Bureau revised...

Ming Lu

CX Daily: As Mass Covid Testing Becomes China’s New Normal, Debate Grows Over Who Pays

In Depth: As mass Covid testing becomes China’s new normal, debate grows over who pays. Climate issues shouldn’t bear political labels, U.S. envoy...

Caixin Global

CX Daily: China’s Plan to Overhaul Its $3.7 Trillion Mutual Fund Industry

In Depth: China’s plan to overhaul its $3.7 trillion mutual fund industry. Exclusive: Davos photo used by U.S. Congressman to criticize China...

Caixin Global

ECM Weekly (24th Apr 22) - Sk Shieldus, One Store, LIC, Campus, Rainbow, Zhihu, LG Energy, Shin Kong

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

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52-week Range

Market Cap (USDm)

P/E

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