Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

Credit

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China</li>
<li>In the US, the NFIB small business optimism index declined to 97.4 (99.0 e / 100.7 p), just below the 51-year average of 98.</li>
<li>US President Donald Trump’s tariffs are set to take effect from midnight ET today, according to the US Customs and Border Protection.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China
In the US, the NFIB small business optimism index declined to 97.4 (99.0 e / 100.7 p), just below the 51-year average of 98.
US President Donald Trump’s tariffs are set to take effect from midnight ET today, according to the US Customs and Border Protection.


<ul>
<li>Greentown China's FY 2024 results were robust, considering its above-industry sales, stable margins and meaningful net debt reduction.</li>
<li>In particular, the property development gross margin remained strong relative to peers.</li>
<li>Importantly, the company has demonstrated good access to onshore and offshore financing.</li>
</ul>


Greentown China's FY 2024 results were robust, considering its above-industry sales, stable margins and meaningful net debt reduction.
In particular, the property development gross margin remained strong relative to peers.
Importantly, the company has demonstrated good access to onshore and offshore financing.


Greentown China - Strong Earnings, Good Net Debt Reduction

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.<ul><li><a href='#lucror-entity-26076'>China Vanke </a></li><li><a href='#lucror-entity-8954'>Greentown China</a></li><li><a href='#lucror-entity-20776'>UPL Ltd</a></li></ul>

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.China Vanke Greentown ChinaUPL Ltd

Morning Views Asia: China Vanke  , Greentown China, UPL Ltd

<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China, New World Development, Vedanta Resources, ReNew Energy</li>
<li>
In the US, San Francisco Fed President Mary Daly commented that policy needs to remain restrictive until there is more progress on inflation, which she expects will continue declining over time. Ms Daly said: “
</li>
<li>
At this point, policy needs to remain restrictive until, from my vantage point, until I see that we are really continuing to make progress on inflation.” She added that there is “no reason to be discouraged about the progress on inflation today” and it is “just going to take longer than anyone wants”.
</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China, New World Development, Vedanta Resources, ReNew Energy

In the US, San Francisco Fed President Mary Daly commented that policy needs to remain restrictive until there is more progress on inflation, which she expects will continue declining over time. Ms Daly said: “


At this point, policy needs to remain restrictive until, from my vantage point, until I see that we are really continuing to make progress on inflation.” She added that there is “no reason to be discouraged about the progress on inflation today” and it is “just going to take longer than anyone wants”.



<ul>
<li>In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China, Health and Happiness (H&amp;H)</li>
<li>In the US, the December JOLTS job openings unexpectedly declined to 7.6 mn (8.0 mn e / 8.2 mn revised p). The JOLTS lay-off and quits rates were stable at 1.1% and 2.0%, respectively, in December.</li>
<li>Treasuries rallied yesterday, with yields declining 4-5 bps across the curve, on account of the weaker-than-expected JOLTS report.</li>
</ul>


In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China, Health and Happiness (H&amp;H)
In the US, the December JOLTS job openings unexpectedly declined to 7.6 mn (8.0 mn e / 8.2 mn revised p). The JOLTS lay-off and quits rates were stable at 1.1% and 2.0%, respectively, in December.
Treasuries rallied yesterday, with yields declining 4-5 bps across the curve, on account of the weaker-than-expected JOLTS report.


China

Greentown China Holdings Ltd. develops real estate.  The Company builds residential villas, low-rise apartment buildings, and high-rise apartment buildings for middle and high-income people.

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Greentown China (3900 HK)

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China In the US, the NFIB small...

Lucror Analytics

Greentown China - Strong Earnings, Good Net Debt Reduction

Greentown China's FY 2024 results were robust, considering its above-industry sales, stable margins and meaningful net debt reduction.

Lucror Analytics

Morning Views Asia: China Vanke , Greentown China, UPL Ltd

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region,...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China, New World Development,...

Lucror Analytics

Lucror Analytics - Morning Views Asia

In today's Morning Views publication we comment on developments of the following high yield issuers: Greentown China, Health and Happiness (H&H)

Lucror Analytics

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)