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

Sunac’s H1/19 results were mostly in line with our expectations. The revenue growth was encouraging, as the company delivered properties sold in previous years. Meanwhile, contracted sales growth slowed. This year, the company has been borrowing aggressively to fund its expansion. Positively, we note that the cash leakage to non-core business appears to be under control. We expect margins to come under pressure, given that the contracted ASP has been on a downtrend since mid-2017. In Sunac's case, however, contracted ASP may not be a good indicator, as a significant portion of its projects stems from acquisitions.

   Sunac’s H1/19 results were mostly in line with our expectations. The revenue growth was encouraging, as the company delivered properties sold in previous years. Meanwhile, contracted sales growth slowed. This year, the company has been borrowing aggressively to fund its expansion. Positively, we note that the cash leakage to non-core business appears to be under control.    We expect margins to come under pressure, given that the contracted ASP has been on a downtrend since mid-2017. In Sunac's case, however, contracted ASP may not be a good indicator, as a significant portion of its projects stems from acquisitions. 

Sunac - Earnings Flash - H1 FY 2019 Results - Lucror Analytics

Sunac China Holdings

Sunac - Earnings Flash - H1 FY 2019 Results - Lucror Analytics