Credit Analyst, Lucror Analytics

Chuanyi Zhou

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.

Debt Capital Markets

Yida China Holdings / Debt Capital Markets

Yida China is issuing benchmark-size 3Y RegS Notes, with initial price talk in the 7.75% area. Yida is a business park developer and operator in China. The business parks consist of office buildings and residential properties. The company has six business park projects, five of which are located in Dalian, Liaoning province, and one in Wuhan, Hubei province. Yida was founded in 1998, with the Dalian Software Park being its flagship project. The company was listed on the Hong Kong Exchange in 2014. In November 2016, founder and Chairman Sun Yinhuan sold his entire holdings (c. 62%) to China Minsheng Investment (CMI) at HKD 3 bn. The acquisition triggered a general offer, with CMI holding more than 70% of Yida subsequently. CMI is an investment firm founded by 59 private companies in China. Mr Sun is its Vice-Chairman. We view fair pricing for the proposed YIDCHL ‘20s at price guidance of 7.5%.

Yida China is issuing benchmark-size 3Y RegS Notes, with initial price talk in the 7.75% area.  Yida is a business park developer and operator in China. The business parks consist of office buildings and residential properties. The company has six business park projects, five of which are located in Dalian, Liaoning province, and one in Wuhan, Hubei province. Yida was founded in 1998, with the Dalian Software Park being its flagship project. The company was listed on the Hong Kong Exchange in 2014. In November 2016, founder and Chairman Sun Yinhuan sold his entire holdings (c. 62%) to China Minsheng Investment (CMI) at HKD 3 bn. The acquisition triggered a general offer, with CMI holding more than 70% of Yida subsequently. CMI is an investment firm founded by 59 private companies in China. Mr Sun is its Vice-Chairman.  We view fair pricing for the proposed YIDCHL ‘20s at price guidance of 7.5%. 

Yida China - New Issue Snapshot - Lucror Analytics

Special Situations, Content Strategist, Smartkarma

Crispin Francis

Special Situations, Content Strategist

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Event-Driven

21 October 2016 - Yida China Holdings Limited (SEHK:3639), Right Won (controlling shareholder of Yida) and China Minsheng Jiaye signed a non-binding MOU for a Possible Share Transfer that could lead to a possible mandatory unconditional general offer.1 November 2016 - Right Won and China Minsheng Jiaye entered into an earnest money agreement in relation to a payment of RMB500 million from the China Minsheng Jiaye to Right Won for the provision of due diligence information by Right Won in relation to the Possible Shares Transfer and the exclusive negotiations between Right Won and the Purchaser for a period of 90 days from the date of the MOU.18 November 2016 - China Minsheng Jiaye announced that they will be purchasing a 53.02% stake in Yida which could lead to a possible Mandatory Unconditional General Cash Offer at HKD 2.20/share, substantially below Yida's pre-halt close of HKD 3.31.

21 October 2016 - Yida China Holdings Limited (SEHK:3639), Right Won (controlling shareholder of Yida) and China Minsheng Jiaye signed a non-binding MOU for a Possible Share Transfer that could lead to a possible mandatory unconditional general offer.1 November 2016 - Right Won and China Minsheng Jiaye entered into an earnest money agreement in relation to a payment of RMB500 million from the China Minsheng Jiaye to Right Won for the provision of due diligence information by Right Won in relation to the Possible Shares Transfer and the exclusive negotiations between Right Won and the Purchaser for a period of 90 days from the date of the MOU.18 November 2016 - China Minsheng Jiaye announced that they will be purchasing a 53.02% stake in Yida which could lead to a possible Mandatory Unconditional General Cash Offer at HKD 2.20/share, substantially below Yida's pre-halt close of HKD 3.31.

Yida - China Minsheng Buys a Controlling Stake; MGO to Follow

China

Yida China Holdings Ltd. is a real estate developer in the People's Republic of China. The Company develops, leases, and sells business and residential parks along with offering property management, construction, and landscaping services.

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Yida China Holdings (3639 HK)

Yida China - New Issue Snapshot - Lucror Analytics

Yida China is issuing benchmark-size 3Y RegS Notes, with initial price talk in the 7.75% area.Yida is a business park developer and operator in...

Lucror Analytics

Yida - China Minsheng Buys a Controlling Stake; MGO to Follow

21 October 2016 - Yida China Holdings Limited (SEHK:3639), Right Won (controlling shareholder of Yida) and China Minsheng Jiaye signed a...

Crispin Francis

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)