Daily Brief Financials: Agile Property Holdings, Sino-Ocean Group, Onewo Space-Tech, Tether, Howard Hughes Corp and more

The Chinese Property Weekly focuses on providing updates in the Chinese real-estate sector, including recent regulatory and company developments, top and bottom performers, rating actions, as well as a list of bond maturities in the next 30 days.

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.

In this Insight:

1. Fosun International
2. China SCE
3. CIFI Holdings
4. Vedanta Resources
5. China Jinmao Holdings

and more…

• Onewo Space-Tech (ONEWO HK) is a leading property management service provider in China looking to raise US$2bn through an IPO on the HKEx.
• This is the Second of a series of reports on Onewo IPO and we will be discussing the company’s Commercial and Urban Space services and AIoT and BPaaS solution segments.
• We expect Onewo’s margins to remain under pressure in the medium-term as the company focuses on customer acquisition which would likely impact margins in the near-term.

• Benefiting from safer reserve assets and lower regulatory risk, Circle’s USDC is quickly eating into Tether’s USDT market share in recent months
• USDT is highly used in the crypto on-off-ramp and as a quote currency in trading pairs, while a large share of USDC is locked into Defi protocols
• BUSD is in its own niche to serve Binance’s ecosystem. The recent move of Binance to only keep BUSD & USDT in its exchange will have a profound impact

• HHC. announced the opening of 565-unit Ward Village development, Ko’ula. HHC had been forecasting the opening of the new tower at Ward Village since last year
• The opening results in HHC recognizing revenue from the sale of each unit within the tower. The opening of Ko’ula affirms our outlook for the year
• The opening of Ko’ula puts HHC on pace to meet 2022 condo sales guidance of $650 million to $700 million