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

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-18387'>CIFI Holdings</a></li><li><a href='#lucror-entity-14896'>Jingrui Holdings</a></li><li><a href='#lucror-entity-21047'>Ronshine China Holdings</a></li><li><a href='#lucror-entity-12763'>Tata Motors ADR</a></li><li><a href='#lucror-entity-17690'>Tunas Baru Lampung</a></li><li><a href='#lucror-entity-26198'>Luzhou Xinglu Water Group -H</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.CIFI HoldingsJingrui HoldingsRonshine China HoldingsTata Motors ADRTunas Baru LampungLuzhou Xinglu Water Group -H

Morning Views Asia: CIFI Holdings, Jingrui Holdings, Ronshine China Holdings, Tata Motors ADR

In this month’s "In-Focus" section, we provide an update on the liquidation regime for Chinese companies, including the current status of recent bond defaults. The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the "In-Focus" section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market.

  In this month’s "In-Focus" section, we provide an update on the liquidation regime for Chinese companies, including the current status of recent bond defaults.   The Asia Monthly focuses on providing updates on recent events, information on new issues and spread movements, as well as summarising our top picks, and discussing specific areas of interest in the "In-Focus" section. The Asia Monthly is intended to broaden investors' understanding of the Asian USD high-yield market. 

Asia HY Monthly - Chinese Company Liquidation Regime Revisited - Lucror Analytics

The Asia HY Trade Book for the month of June includes a summary of our recommendations, as well as our high-conviction ideas. The report also features relative-value charts and lists of the bonds in the Lucror Asia HY index.

  The Asia HY Trade Book for the month of June includes a summary of our recommendations, as well as our high-conviction ideas. The report also features relative-value charts and lists of the bonds in the Lucror Asia HY index. 

Asia HY Trade Book - June 2021 - Lucror Analytics

Credit Analyst, Lucror Analytics

Chuanyi Zhou

Credit Analyst

Yuzhou Group held an investor call yesterday afternoon, with Chairman Lung On Lam and CFO Steve Chiu taking part. The call was held to clarify concerns over a recent negative report by CRIC Securities.  In our view, Yuzhou does not face any immediate refinancing pressures. That said, we note the company's significant exposure to JVs, and believe the low rate of consolidation will not be resolved soon. We view positively the company's prudent expansion pace this year. Over 20% of Yuzhou's assets are in JV projects, with the company holding a 30% non-controlling interest in equity that could be applied to consolidate JV projects.

  Yuzhou Group held an investor call yesterday afternoon, with Chairman Lung On Lam and CFO Steve Chiu taking part. The call was held to clarify concerns over a recent negative report by CRIC Securities.    In our view, Yuzhou does not face any immediate refinancing pressures. That said, we note the company's significant exposure to JVs, and believe the low rate of consolidation will not be resolved soon. We view positively the company's prudent expansion pace this year. Over 20% of Yuzhou's assets are in JV projects, with the company holding a 30% non-controlling interest in equity that could be applied to consolidate JV projects. 

Yuzhou Group - Event Flash - Holds Investor Call On CRIC Securities' Report - Lucror Analytics

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-8108'>Hopson Development</a></li><li><a href='#lucror-entity-13359'>Lenovo</a></li><li><a href='#lucror-entity-14152'>Yanlord Land</a></li><li><a href='#lucror-entity-5519'>Suzhou Boamax Tech Group</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.Hopson DevelopmentLenovoYanlord LandSuzhou Boamax Tech Group

Morning Views Asia: Hopson Development, Lenovo, Yanlord Land, Suzhou Boamax Tech Group

China

Yuzhou Group Holdings Company Limited develops residential properties in southern China.

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Yuzhou Group (1628 HK)

Morning Views Asia: CIFI Holdings, Jingrui Holdings, Ronshine China Holdings, Tata Motors ADR

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

Lucror Analytics

Asia HY Monthly - Chinese Company Liquidation Regime Revisited - Lucror Analytics

In this month’s "In-Focus" section, we provide an update on the liquidation regime for Chinese companies, including the current status of recent...

Lucror Analytics

Asia HY Trade Book - June 2021 - Lucror Analytics

The Asia HY Trade Book for the month of June includes a summary of our recommendations, as well as our high-conviction ideas. The report also...

Lucror Analytics

Yuzhou Group - Event Flash - Holds Investor Call On CRIC Securities' Report - Lucror Analytics

Yuzhou Group held an investor call yesterday afternoon, with Chairman Lung On Lam and CFO Steve Chiu taking part. The call was held to clarify...

Lucror Analytics

Morning Views Asia: Hopson Development, Lenovo, Yanlord Land, Suzhou Boamax Tech Group

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

Lucror Analytics

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)