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

We view Powerlong as “High Risk” on the LARA scale. The company focuses on the development of commercial and residential properties in the Yangtze River Delta. It has been building and managing small to mid-sized commercial complexes, which generate stable recurring income. That said, the markets are more competitive, and the company could lose its low-cost advantage. Powerlong has relied heavily on debt to fund its expansion, driving up leverage. Positively, the company is developing a base of stable rental income and has decent access to capital markets. In addition, it is slowly executing its business plan to grow the commercial portfolio, resulting in strong profit margins. Our fundamental Credit Bias is "Stable", given the COVID-19 outbreak’s impact on both contracted sales and recurring income. That said, we like Powerlong's exposure to commercial properties. This has supported top-line growth and margins, while generating stable recurring income. We remain cautious on the company's elevated leverage and extensive use of onshore corporate bonds. We view Powerlong as “Weak” on the LAGA scale, given the family-dominated Board and lack of effective INEDs.

  We view Powerlong as “High Risk” on the LARA scale. The company focuses on the development of commercial and residential properties in the Yangtze River Delta. It has been building and managing small to mid-sized commercial complexes, which generate stable recurring income. That said, the markets are more competitive, and the company could lose its low-cost advantage. Powerlong has relied heavily on debt to fund its expansion, driving up leverage. Positively, the company is developing a base of stable rental income and has decent access to capital markets. In addition, it is slowly executing its business plan to grow the commercial portfolio, resulting in strong profit margins.   Our fundamental Credit Bias is "Stable", given the COVID-19 outbreak’s impact on both contracted sales and recurring income. That said, we like Powerlong's exposure to commercial properties. This has supported top-line growth and margins, while generating stable recurring income. We remain cautious on the company's elevated leverage and extensive use of onshore corporate bonds.   We view Powerlong as “Weak” on the LAGA scale, given the family-dominated Board and lack of effective INEDs. 

Powerlong - Tear Sheet - Lucror Analytics

Powerlong Real Estate Holdings

Powerlong - Tear Sheet - Lucror Analytics