Equity Analyst, LightStream Research

Oshadhi Kumarasiri

An equity research analyst with over 7 years of experience in multiple sectors. Previously worked for one of the world's largest asset managers with about USD2.5trn in AUM, covering small and micro-cap companies in the consumer sphere across Europe and developed Asia. Also experienced in covering multiple industries including banking, insurance and asset management, retail, tech, telco and REIT.

Equity Analyst

Alibaba: Daniel Zhang Shown The Door, Jack Ma Back In The Game

Alibaba's Chairman & CEO, Daniel Zang Faces a Downgrade

Alibaba 4QFY23: Concerns Surrounding Taobao and Tmall, Disappointing IPO-Bound Cloud & Cainiao

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>China's regulators on Friday imposed <a href="https://www.smartkarma.com/entities/ant-group-co-ltd" target="_blank" data-smartkarma-citation="entities:24240:1" rel="noopener">Ant Financial Services Group (6688 HK)</a> with a fine of RMB 7.12bn. A day later, Ant Group unveiled a share buyback program worth $6bn.</li>
<li>The last time media created a positive narrative around Ant Group was in January 2023 when Jack Ma relinquished control of the company.</li>
<li>However, the media excitement was short-lived as <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd-d7b798e2-202d-4e01-9a1e-799e2ae8f0c7" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba Group Holding (9988 HK)</a>'s share price quickly resumed a downward trend after rising by around 22%.</li>
</ul>


China's regulators on Friday imposed Ant Financial Services Group (6688 HK) with a fine of RMB 7.12bn. A day later, Ant Group unveiled a share buyback program worth $6bn.
The last time media created a positive narrative around Ant Group was in January 2023 when Jack Ma relinquished control of the company.
However, the media excitement was short-lived as Alibaba Group Holding (9988 HK)'s share price quickly resumed a downward trend after rising by around 22%.


Ant Group's $6.0bn Buyback Move Casts Doubt on IPO Prospects