Equity Analyst, LightStream Research

Shifara Samsudeen, FCMA, 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

GoodRx IPO: A Healthy Prescription for Strong Topline Growth and Profits

M3 Inc: Intelligent Adaption to Covid-19 Should Sustain Medtech Earnings Growth Even Post-Pandemic

ZTO Tactical Fade/Short to Trendline Buy Zone

Genor Biopharma IPO: Strong Clinical Pipeline with Some Potential Blockbusters

Dada Nexus IPO Valuation: Too Glittery and Overvalued

ZTO Secondary: Entire Industry Expanding Capacity While Facing Pricing Pressure Is Not a Good Thing

Chindata IPO: Making Good Progress but Challenges Ahead

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

ZTO Express Cayman  / Equity Capital Markets

ZTO Express, a leading express delivery services company in China is looking to raise US$1.56bn (45m shares at a maximum offer price of US$34.58 per share) in its Hong Kong Secondary listing, following in the footsteps of a growing number of US-listed Chinese companies seeking for secondary listings.In our previous insight on the company’s secondary listing <a href="https://www.smartkarma.com/insights/zto-secondary-entire-industry-expanding-capacity-while-facing-pricing-pressure-is-not-a-good-thing" target="_blank" data-smartkarma-citation="insights:43313" rel="noopener">ZTO Secondary: Entire Industry Expanding Capacity While Facing Pricing Pressure Is Not a Good Thing</a> , we discussed the company’s business segments and its key financials. We also highlighted that we were concerned about the pricing pressures in the market and its impact on the company’s profitability. In addition, we also discussed the company’s capacity improvement plan and how it is negatively impacting the company’s cashflows.In this follow-up insight, we will be discussing the company’s valuation and how attractive it is compared to the peers.

ZTO Express, a leading express delivery services company in China is looking to raise US$1.56bn (45m shares at a maximum offer price of US$34.58 per share) in its Hong Kong Secondary listing, following in the footsteps of a growing number of US-listed Chinese companies seeking for secondary listings.In our previous insight on the company’s secondary listing ZTO Secondary: Entire Industry Expanding Capacity While Facing Pricing Pressure Is Not a Good Thing , we discussed the company’s business segments and its key financials. We also highlighted that we were concerned about the pricing pressures in the market and its impact on the company’s profitability. In addition, we also discussed the company’s capacity improvement plan and how it is negatively impacting the company’s cashflows.In this follow-up insight, we will be discussing the company’s valuation and how attractive it is compared to the peers.

ZTOエクスプレスセカンダリー：過大評価されており、世界的な配送大手よりも高価