JD Health: Minimal Impact from New Policy on Digital Healthcare

Nio: Difficult to Refute Most of Grizzly’s Allegations

Tencent: End of Another Quarter with No New Game Approval and Prosus Selling

Gravity Works As WeWork Doesn't; Now Plan B

Bifurcated Chinese Express Market Developing

Equity Analyst, LightStream Research

Shifara Samsudeen, ACMA, 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

Readboy Education / Equity Capital Markets

<ul>
<li>Readboy Education has the second largest market share in China’s smart learning device market. The company has filed for an IPO on the HKEx to raise around HK$ 520m.</li>
<li>The company grew its revenues strongly over the past three years but shipments have been declining in 2021 amidst the COVID-19 resurgence and subsequent lockdowns.</li>
<li>Margins have been declining due to raw material shortages and even though Readboy claims to have taken measures to deal with the shortages, we are yet to see its effectiveness.</li>
</ul>


Readboy Education has the second largest market share in China’s smart learning device market. The company has filed for an IPO on the HKEx to raise around HK$ 520m.
The company grew its revenues strongly over the past three years but shipments have been declining in 2021 amidst the COVID-19 resurgence and subsequent lockdowns.
Margins have been declining due to raw material shortages and even though Readboy claims to have taken measures to deal with the shortages, we are yet to see its effectiveness.


Readboy Education IPO: Struggling Amidst COVID and Supply Shortages