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

Yestarآ Healthcareâ€™sآ FY 2019 results did not contain many surprises. Revenue growth was in line with market development for in-vitro diagnostic devicesآ and the expansion of theآ company's distribution network. Margins weakened y-o-y while borrowings increased. The companyâ€™s liquidity could be strained if it has to fulfil the purchase options outstanding (just overآ CNY 950 mn)آ usingآ internal funds. Yestar wasآ in negotiations for one of these for more than a year, and now faces claims in arbitration from the vendor. It recently settled another option, with a new purchase agreement replacing the original one. It has agreed to take another 20% stake in the acquiree company at a discounted price of CNY 77 mn (the original agreement was to purchase 30% for CNY 270 mn). This transaction will not be settled in cash, but with the transferآ of one business segment to the minority shareholder. If Yestarآ were to settle the rest of the options in cash, it would have to raise additional debt.

  Yestarآ Healthcareâ€™sآ FY 2019 results did not contain many surprises. Revenue growth was in line with market development for in-vitro diagnostic devicesآ and the expansion of theآ company's distribution network. Margins weakened y-o-y while borrowings increased.   The companyâ€™s liquidity could be strained if it has to fulfil the purchase options outstanding (just overآ CNY 950 mn)آ usingآ internal funds. Yestar wasآ in negotiations for one of these for more than a year, and now faces claims in arbitration from the vendor. It recently settled another option, with a new purchase agreement replacing the original one. It has agreed to take another 20% stake in the acquiree company at a discounted price of CNY 77 mn (the original agreement was to purchase 30% for CNY 270 mn). This transaction will not be settled in cash, but with the transferآ of one business segment to the minority shareholder. If Yestarآ were to settle the rest of the options in cash, it would have to raise additional debt. 

Yestar Healthcare - Earnings Flash - FY 2019 Results - Lucror Analytics

Yestar Healthcare Holdings

Yestar Healthcare - Earnings Flash - FY 2019 Results - Lucror Analytics