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

Huya – Looking Attractive Now Regardless of Merger Outcome

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

IFast 1Q21 Results: Strong Earnings Momentum Continues

Zhaoke Opthalmology IPO Valuation: Overpriced

Tencent 4Q: Solid Performance Across All Businesses Despite Ongoing Regulatory Concerns

We Doctor Pre-IPO: Front-Runner in Digital Medical Services in China

Grab: SOTP Suggests Steep Discount to Proposed SPAC 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 Bottom-Up

<a href="https://www.smartkarma.com/entities/alibaba-group" target="_blank" data-smartkarma-citation="entities:28434:1" rel="noopener">Alibaba Group (9988 HK)</a>  has been at the centre of a crackdown by Beijing since November 2020, when Chinese regulators halted the US$35bn IPO of Ant Group, the world’s largest financial technology company.China’s competition regulator, the State Administration for Market Regulation (SAMR) formally approved the draft anti-monopoly law released in November 2020 to further tighten restrictions on the country’s tech giants.The SAMR imposed a fine of RMB18.2bn on Alibaba for violating anti-monopoly rules and abusing its market dominant position on 10th April. After Alibaba, all eyes have turned on Tencent whether it could become the next target for increased supervision.It was reported by several news media outlets that <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent Holdings (700 HK)</a> had met with China’s antitrust watchdog officials to discuss compliance at Tencent, indicating that it could soon become the target by Beijing.Tencent announced last week that it will be merging its long-form video platform (Tencent Video) and short-video service (Weishi) into a new operation that will form part of the company’s Platform and Content Group (PCG) in order to compete with rival ByteDance. Tencent created its PCG unit in 2018 by combining its social networks, online media and mobile internet operations and launched Weishi as a stand-alone service in 2018.

Alibaba Group (9988 HK)  has been at the centre of a crackdown by Beijing since November 2020, when Chinese regulators halted the US$35bn IPO of Ant Group, the world’s largest financial technology company.China’s competition regulator, the State Administration for Market Regulation (SAMR) formally approved the draft anti-monopoly law released in November 2020 to further tighten restrictions on the country’s tech giants.The SAMR imposed a fine of RMB18.2bn on Alibaba for violating anti-monopoly rules and abusing its market dominant position on 10th April. After Alibaba, all eyes have turned on Tencent whether it could become the next target for increased supervision.It was reported by several news media outlets that Tencent Holdings (700 HK) had met with China’s antitrust watchdog officials to discuss compliance at Tencent, indicating that it could soon become the target by Beijing.Tencent announced last week that it will be merging its long-form video platform (Tencent Video) and short-video service (Weishi) into a new operation that will form part of the company’s Platform and Content Group (PCG) in order to compete with rival ByteDance. Tencent created its PCG unit in 2018 by combining its social networks, online media and mobile internet operations and launched Weishi as a stand-alone service in 2018.

Tencent: Only Fintech Restructuring or Losing the Edge on WeChat User Data?