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

The Asia HY Trade Recommendations report for August includes a summary of our recommendations, as well as our high-conviction ideas. We also provide relative-value charts and lists of the bonds in the Lucror Asia HY index.

   The Asia HY Trade Recommendations report for August includes a summary of our recommendations, as well as our high-conviction ideas. We also provide relative-value charts and lists of the bonds in the Lucror Asia HY index. 

Asia HY Trade Recommendations - August 2019 - Lucror Analytics

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar. 

Lucror Analytics - Morning Views Asia - 20 Aug 2019

Lucror Analytics - Morning Views Asia - 13 Aug 2019

Lucror Analytics - Morning Views Asia - 07 Aug 2019

Credit Analyst, Lucror Analytics

Chuanyi Zhou

Credit Analyst

Ronshine’s H1/19 results contained few surprises. Contracted sales did not rise much, but revenue growth was strong as the company gradually delivered sold properties. The margins returned to the lower end among peers, as the ASP remained soft while land costs soared. Debt remained stable in H1/19 despite the company’s need to fund construction, given its large to-be-delivered portfolio. Positively, having been active in debt financing, Ronshine has extended its maturity profile and reduced the financing cost.

   Ronshine’s H1/19 results contained few surprises. Contracted sales did not rise much, but revenue growth was strong as the company gradually delivered sold properties. The margins returned to the lower end among peers, as the ASP remained soft while land costs soared. Debt remained stable in H1/19 despite the company’s need to fund construction, given its large to-be-delivered portfolio. Positively, having been active in debt financing, Ronshine has extended its maturity profile and reduced the financing cost. 

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

Hong Kong

Ronshine China Holdings Limited is a property developer in the PRC, focusing on the development of residential properties in cities in the Western Taiwan Strait s Economic Zone and selected first- and second-tier cities.

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Ronshine China Holdings (3301 HK)

Asia HY Trade Recommendations - August 2019 - Lucror Analytics

The Asia HY Trade Recommendations report for August includes a summary of our recommendations, as well as our high-conviction ideas. We also...

Lucror Analytics

Lucror Analytics - Morning Views Asia - 20 Aug 2019

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region,...

Lucror Analytics

Lucror Analytics - Morning Views Asia - 13 Aug 2019

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region,...

Lucror Analytics

Lucror Analytics - Morning Views Asia - 07 Aug 2019

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region,...

Lucror Analytics

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

Ronshine’s H1/19 results contained few surprises. Contracted sales did not rise much, but revenue growth was strong as the company gradually...

Lucror Analytics

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