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

Credit Analyst, Lucror Analytics

Chuanyi Zhou

Credit Analyst

Credit

China South City's (CSC) H1/19-20 results were in line with our expectations. The company has become increasingly dependent on residential property sales, owing to its development cycle and the weak demand for trade centres. Recurring income has been growing gradually, on the back of the large investment property portfolio and management/logistics services. CSC's margins have been above average for years, thanks to its cheap land bank. The company seems to have adopted a more conservative approach of late, with slower land acquisitions, lower fair-value gains, and dividends to the controlling shareholder and Tencent being paid in new shares. We are very concerned over the ?change in CFO ?just before the results release, along with the high CFO ?turnover and the new appointee's apparent lack of experience.

  China South City's (CSC) H1/19-20 results were in line with our expectations. The company has become increasingly dependent on residential property sales, owing to its development cycle and the weak demand for trade centres. Recurring income has been growing gradually, on the back of the large investment property portfolio and management/logistics services. CSC's margins have been above average for years, thanks to its cheap land bank.   The company seems to have adopted a more conservative approach of late, with slower land acquisitions, lower fair-value gains, and dividends to the controlling shareholder and Tencent being paid in new shares.   We are very concerned over the ?change in CFO ?just before the results release, along with the high CFO ?turnover and the new appointee's apparent lack of experience. 

China South City - Earnings Flash - H1 FY 2019-20 Results - Lucror Analytics