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

XIAOMI Met 30 Target Now Set to Re Test 27 Pivot Support

Xiaomi Beats Apple to Become No. 2 in the Global Smartphone Market in 2Q2021

Xiaomi Exodus:  Confidence Fading Among Active China Investors

Xiaomi 4Q: Revenues Surge as Huawei Struggles but a Chip Shortage Could Hurt Top Line and Margins

Tencent: Earnings Beat Consensus; Falling User Growth and Game Revenue Growth Concerning

Kuaishou: Online Ad Drives Top Line Growth; Margins to Remain Under Pressure with Overseas Expansion

Baidu 1Q21: Post-Pandemic Recovery in Online Marketing and New Initiatives Drive Earnings Beat

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

<a href="https://www.smartkarma.com/entities/xiaomi-corp" target="_blank" data-smartkarma-citation="entities:24409:1" rel="noopener">Xiaomi Corp (1810 HK)</a> reported 1Q2021 results on Wednesday (26th May) after market. The company’s revenues grew 54.7% YoY during the quarter to RMB76.9bn (vs consensus revenue of RMB75.1bn) while reported operating profit for the quarter grew 251.1% to RMB8.2bn (vs consensus OP of RMB4.5bn). The adjusted operating profit for the quarter (excluding fair value adjustments and profit/loss from equity investment) increased 230.0% YoY during the quarter.<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/209/315/original/image_89988038521622059340756.png?1622059342" class="editor-image img-responsive" data-smartkarma-image-id="209315"></figure>During 1Q21, Xiaomi was ranked no.3 in the global smartphone market with a market share of 14.1% which was only 1.0% below the no. 2 player <a href="https://www.smartkarma.com/entities/apple-inc" target="_blank" data-smartkarma-citation="entities:666:1" rel="noopener">Apple Inc (AAPL US)</a>  who had a share of 15.1% of the global smartphone shipments in 1Q21. In the previous quarter (4Q2020), Xiaomi’s global smartphone shipments accounted for 12.1% of the worldwide shipments and the company’s smartphone shipments grew 61.9% YoY in 1Q20, the highest among all players in the market.Xiaomi was ranked no. 4 in China smartphone market in 1Q21 with a market share of 14.6% beating iPhone maker Apple to the fifth position. During 4Q2020, Apple had a market share of 18.2% in China and ranked no. 4, however, Apple’s share of smartphone shipment in China lessened to 12.7% in 1Q21.

Xiaomi Corp (1810 HK) reported 1Q2021 results on Wednesday (26th May) after market. The company’s revenues grew 54.7% YoY during the quarter to RMB76.9bn (vs consensus revenue of RMB75.1bn) while reported operating profit for the quarter grew 251.1% to RMB8.2bn (vs consensus OP of RMB4.5bn). The adjusted operating profit for the quarter (excluding fair value adjustments and profit/loss from equity investment) increased 230.0% YoY during the quarter.During 1Q21, Xiaomi was ranked no.3 in the global smartphone market with a market share of 14.1% which was only 1.0% below the no. 2 player Apple Inc (AAPL US)  who had a share of 15.1% of the global smartphone shipments in 1Q21. In the previous quarter (4Q2020), Xiaomi’s global smartphone shipments accounted for 12.1% of the worldwide shipments and the company’s smartphone shipments grew 61.9% YoY in 1Q20, the highest among all players in the market.Xiaomi was ranked no. 4 in China smartphone market in 1Q21 with a market share of 14.6% beating iPhone maker Apple to the fifth position. During 4Q2020, Apple had a market share of 18.2% in China and ranked no. 4, however, Apple’s share of smartphone shipment in China lessened to 12.7% in 1Q21.

Xiaomi: Strong Earnings; Narrows Gap with No. 2 Player Apple Globally While Beats Apple in China