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.

High Yield Experts

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

Credit

Central China’s FY 2020 results were broadly stable, thanks to its improved revenue recognition and stable leverage. Negatively, the gross margin declined, as the company accelerated inventory de-stocking to boost cash flow amid the pandemic. Central China has breached one of the Three Red Lines.  Looking ahead, management aims to grow contracted sales by c. 15% for each of the next three years, while keeping land acquisition spending to c. 20% of sales. While this could prevent the company from deleveraging, we do not foresee material leverage deterioration. We continue to have some corporate governance concerns, stemming from Central China’s repeated provision of guarantees to related parties, as well as the proposed complete spin-off of the light-asset business segment to shareholders.

  Central China’s FY 2020 results were broadly stable, thanks to its improved revenue recognition and stable leverage. Negatively, the gross margin declined, as the company accelerated inventory de-stocking to boost cash flow amid the pandemic. Central China has breached one of the Three Red Lines.    Looking ahead, management aims to grow contracted sales by c. 15% for each of the next three years, while keeping land acquisition spending to c. 20% of sales. While this could prevent the company from deleveraging, we do not foresee material leverage deterioration. We continue to have some corporate governance concerns, stemming from Central China’s repeated provision of guarantees to related parties, as well as the proposed complete spin-off of the light-asset business segment to shareholders. 

Central China - Earnings Flash - FY 2020 Results - Lucror Analytics

Central China Real Estate

Central China - Earnings Flash - FY 2020 Results - Lucror Analytics