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

Medlive Technology IPO: Forecasts and Valuation

Shanghai Heartcare IPO: Strong Potential in Treating Strokes

Medlive IPO: Thoughts on First Day Trading

Didi Chuxing IPO: Thoughts on First Day Trading

Medlive Tech IPO (Part I): Diversified Services and a Major Beneficiary of Digital Healthcare Market

We Doctor Pre-IPO: Growing Scale and Expanding Revenues to Help Reach Profits

Didi IPO: Forecasts, Peer Comparison and Valuation

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

Medlive Technology / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/medlive-technology-co-ltd" target="_blank" data-smartkarma-citation="entities:32985:1" rel="noopener">Medlive Technology (2192 HK)</a>  is the largest online professional physician platform in China based on registered physician users in 2020 (Source: Frost &amp; Sullivan). Medlive’s platform allows its participants that include physicians, pharmaceutical and medical device companies and patients to connect and deliver the most relevant and valuable information efficiently to each group of participants.Medlive has filed for an IPO to list its shares on the Hong Kong Stock Exchange and plans to raise net proceeds of about HK$3.8bn (US$486m) at the midpoint of the IPO price range of HK$24.1-27.2 per share. The company is backed by the Japanese healthcare and medical-related services platform M3.In our previous insight on the company’s IPO, we discussed Medlive’s business model, its segments, revenues and outlook. Refer the extract below from our previous insight:“Having analysed Medlive’s business model and revenues, we remain positive on the company’s ability to grow its top line. Medlive offers a wide range of healthcare services to different stakeholders including pharmaceutical companies, healthcare companies, physicians, patients and hospitals. The company’s monetisation strategy has worked favour of the company as evident by the growth in the company’s revenues. Medlive is well positioned to benefit from growing demand for digital healthcare services in China. Moreover, Covid-19 has further accelerated this demand and also has reshaped how healthcare is delivered across the world”In this insight, we examine the company’s margins and plans to discuss Medlive’s valuation in a follow-up insight.

Medlive Technology (2192 HK)  is the largest online professional physician platform in China based on registered physician users in 2020 (Source: Frost &amp; Sullivan). Medlive’s platform allows its participants that include physicians, pharmaceutical and medical device companies and patients to connect and deliver the most relevant and valuable information efficiently to each group of participants.Medlive has filed for an IPO to list its shares on the Hong Kong Stock Exchange and plans to raise net proceeds of about HK$3.8bn (US$486m) at the midpoint of the IPO price range of HK$24.1-27.2 per share. The company is backed by the Japanese healthcare and medical-related services platform M3.In our previous insight on the company’s IPO, we discussed Medlive’s business model, its segments, revenues and outlook. Refer the extract below from our previous insight:“Having analysed Medlive’s business model and revenues, we remain positive on the company’s ability to grow its top line. Medlive offers a wide range of healthcare services to different stakeholders including pharmaceutical companies, healthcare companies, physicians, patients and hospitals. The company’s monetisation strategy has worked favour of the company as evident by the growth in the company’s revenues. Medlive is well positioned to benefit from growing demand for digital healthcare services in China. Moreover, Covid-19 has further accelerated this demand and also has reshaped how healthcare is delivered across the world”In this insight, we examine the company’s margins and plans to discuss Medlive’s valuation in a follow-up insight.

Medlive Tech IPO (Part II): Further Room for Margin Expansion with Expanding Scale