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

KWG Living IPO: Expansion in Community Value-Added Services Drives Growth

Jinke Smart Services IPO: Maintenance Secured

Shimao Services IPO: Another Property Management Services Company with Good Potential

KWG Living IPO: Strong Financials and Growth Prospects Justify a Premium

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

Jinke Smart Services / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/jinke-smart-services" target="_blank" data-smartkarma-citation="entities:29214:1" rel="noopener">Jinke Smart Services (9666 HK)</a>  is a comprehensive and smart property management services company that offers a wide range of property management services to residential and non-residential properties located across an extensive number of cities in China.The company has set the terms for its IPO, and plans to issue 133m shares at an indicative IPO price of HK$41.8-47.6 per share, and will raise approximately HK$6.3bn (US$816m) at the upper end of the IPO Pricing.The company also has entered into cornerstone investment agreements with a long list of investors including Taikang Life Insurance, Gaoling Fund LP and YHG Investment, Snow Lake China, etc. These cornerstone investors have agreed to subscribe for an aggregate amount of HK$2.7bn worth of shares.In our previous insight on the company’s IPO <a href="https://www.smartkarma.com/insights/jinke-smart-services-ipo-maintenance-secured" target="_blank" data-smartkarma-citation="insights:44825" rel="noopener">Jinke Smart Services IPO: Maintenance Secured</a> , we discussed about the company’s business model, segments and financials. In this insight, we examine the company’s valuation and how it compares to property management service peers in China.

Jinke Smart Services (9666 HK)  is a comprehensive and smart property management services company that offers a wide range of property management services to residential and non-residential properties located across an extensive number of cities in China.The company has set the terms for its IPO, and plans to issue 133m shares at an indicative IPO price of HK$41.8-47.6 per share, and will raise approximately HK$6.3bn (US$816m) at the upper end of the IPO Pricing.The company also has entered into cornerstone investment agreements with a long list of investors including Taikang Life Insurance, Gaoling Fund LP and YHG Investment, Snow Lake China, etc. These cornerstone investors have agreed to subscribe for an aggregate amount of HK$2.7bn worth of shares.In our previous insight on the company’s IPO Jinke Smart Services IPO: Maintenance Secured , we discussed about the company’s business model, segments and financials. In this insight, we examine the company’s valuation and how it compares to property management service peers in China.

Shimao Services Holdings Limited (873 HK)

Jinke Smart Services IPO: Appealing Valuation