Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

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.

Credit

<ul>
<li>UST yields rose 2-4 bps on Friday, as haven flows into treasuries eased after US President Donald Trump indicated that high tariffs on China would not be sustainable.</li>
<li>Yields on 2Y and 10Y USTs rose 3 bps to 3.46% and 4.01%, respectively. Equities ended higher, recovering from declines earlier in the day.</li>
<li>The S&amp;P 500 and Nasdaq both increased 0.5% to 6,664 and 22,680, respectively.</li>
</ul>


UST yields rose 2-4 bps on Friday, as haven flows into treasuries eased after US President Donald Trump indicated that high tariffs on China would not be sustainable.
Yields on 2Y and 10Y USTs rose 3 bps to 3.46% and 4.01%, respectively. Equities ended higher, recovering from declines earlier in the day.
The S&amp;P 500 and Nasdaq both increased 0.5% to 6,664 and 22,680, respectively.


Founder-CEO & Chief Analyst, Real Estate Foresight

Robert Ciemniak

Founder-CEO & Chief Analyst

Real Estate Foresight

Since 2012, REF has been helping investors with market research, project due diligence, and strategy development. This has ranged from detailed assessments and estimates on distressed developers' project portfolios to market due diligence on specific projects to macro-level questions linked to demand for commodities. The unique combination of the housing markets and developer data from data partner China Index Academy in Beijing, primary research, and technology-powered alternative data collection from public sources result in a valuable content set used in REF analytics and reports.

Predictive Analytics for China Property

Thematic (Sector/Industry)

<ul>
<li>This note is a weekly (select weeks on SK) curated selection of Chinese news articles and company announcements focused on developers in distress</li>
<li>We look for their deals, updates, specific project progress news ('local signals'), as well as relevant local research commentaries about the market</li>
<li>We do not verify the underlying data or provide any opinion; we only select and summarise the information. See direct links to the sources</li>
</ul>


This note is a weekly (select weeks on SK) curated selection of Chinese news articles and company announcements focused on developers in distress
We look for their deals, updates, specific project progress news ('local signals'), as well as relevant local research commentaries about the market
We do not verify the underlying data or provide any opinion; we only select and summarise the information. See direct links to the sources


REF China Property Developers In Distress - Weekly News & Announcements Tracker | July 24-30, 2026

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in margin trading positions of A-share stocks as of Oct 9th. The aggregated net margin trading position is USD341,906m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in ANHUI JIANGHUAI AUTOMOBILE, SHARETRONIC DATA TECHNOLOGY, YUANJIE SEMI, SUZHOU EVERBRIGHT PHOTONICS, GIGADEVICE SEMICONDUCTOR.</li>
</ul>


We analyzed the changes in margin trading positions of A-share stocks as of Oct 9th. The aggregated net margin trading position is USD341,906m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in ANHUI JIANGHUAI AUTOMOBILE, SHARETRONIC DATA TECHNOLOGY, YUANJIE SEMI, SUZHOU EVERBRIGHT PHOTONICS, GIGADEVICE SEMICONDUCTOR.


A-Share Margin Trading Weekly (Oct 9th): ANHUI JIANGHUAI AUTOMOBILE, SHARETRONIC DATA TECHNOLOGY

<ul>
<li>We analyse the changes of A-H premium on 200 stocks over the last week. The average A-H premium was 92.3% as of Oct 9th.</li>
<li>The average A-H premium changed by 3.7ppt week-on-week, led by materials, industrials, utilities.</li>
<li>We highlight weekly changes in A-H premium for Innocare, Ganfenglithium, China East Air, Yofc.</li>
</ul>


We analyse the changes of A-H premium on 200 stocks over the last week. The average A-H premium was 92.3% as of Oct 9th.
The average A-H premium changed by 3.7ppt week-on-week, led by materials, industrials, utilities.
We highlight weekly changes in A-H premium for Innocare, Ganfenglithium, China East Air, Yofc.


A-H Premium Weekly (Oct 9th): Innocare, Ganfenglithium, China East Air, Yofc

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

<ul>
<li>JD has made a significant investment by acquiring a £197 million property in West London for its new UK headquarters.</li>
<li>Hong Kong's ITC is set to develop a 1GW data center campus in Jiangsu, focusing on enhancing digital transformation efforts.</li>
<li>Link REIT has divested a 50% stake in Sydney's 100 Market Street for $158 million, while SC Capital bought a luxury compound in Hong Kong for $39 million.</li>
</ul>


JD has made a significant investment by acquiring a £197 million property in West London for its new UK headquarters.
Hong Kong's ITC is set to develop a 1GW data center campus in Jiangsu, focusing on enhancing digital transformation efforts.
Link REIT has divested a 50% stake in Sydney's 100 Market Street for $158 million, while SC Capital bought a luxury compound in Hong Kong for $39 million.


Asia Real Estate Tracker (23-Jul-2026): JD acquires £197M HQ in West London.

China

China Vanke Co., Ltd. operates real estate development businesses.  The Company provides housing renovation, housing loans, real estate brokerage, and other businesses. China Vanke also operates logistics, material supply, and other businesses.

Price Gauge
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China Vanke (000002 CH)

Lucror Analytics - Morning Views Asia

UST yields rose 2-4 bps on Friday, as haven flows into treasuries eased after US President Donald Trump indicated that high tariffs on China would...

Lucror Analytics

REF China Property Developers In Distress - Weekly News & Announcements Tracker | July 24-30, 2026

This note is a weekly (July 24-30, 2026; select weeks on SK) curated selection of Chinese news articles and company announcements focused on...

Robert Ciemniak

A-H Premium Weekly (Oct 9th): Innocare, Ganfenglithium, China East Air, Yofc

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Innocare, Ganfenglithium, China East Air, Yofc.

Ke Yan, CFA, FRM

Asia Real Estate Tracker (23-Jul-2026): JD acquires £197M HQ in West London.

JD has acquired a £197 million property for its UK HQ, while ITC plans a 1GW data center in Jiangsu, GPIF backs Advantage Partners' $123 million...

Asia Real Estate Tracker

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Lucror Analytics - Morning Views Asia

UST yields rose 2-4 bps on Friday, as haven flows into treasuries eased after US President Donald Trump indicated that high tariffs on China would...

Lucror Analytics

REF China Property Developers In Distress - Weekly News & Announcements Tracker | July 24-30, 2026

This note is a weekly (July 24-30, 2026; select weeks on SK) curated selection of Chinese news articles and company announcements focused on...

Robert Ciemniak

A-Share Margin Trading Weekly (Oct 9th): ANHUI JIANGHUAI AUTOMOBILE, SHARETRONIC DATA TECHNOLOGY

We analyzed A-share margin trading positions report for the past week and highlighted ANHUI JIANGHUAI AUTOMOBILE (600418 CH), SHARETRONIC DATA...

Ke Yan, CFA, FRM

A-H Premium Weekly (Oct 9th): Innocare, Ganfenglithium, China East Air, Yofc

We analyzed A-H premium changes in the past week and highlight A-H premium changes for Innocare, Ganfenglithium, China East Air, Yofc.

Ke Yan, CFA, FRM

Asia Real Estate Tracker (23-Jul-2026): JD acquires £197M HQ in West London.

JD has acquired a £197 million property for its UK HQ, while ITC plans a 1GW data center in Jiangsu, GPIF backs Advantage Partners' $123 million...

Asia Real Estate Tracker