Daily Brief Financials: Onewo Space-Tech, Country Garden Holdings Co, Presto, CRB Commodity Index and more

• Onewo Space-Tech (ONEWO HK) (OST) aims to raise upto US$784m in its Hong Kong IPO. OST is a property management service provider primarily owned by China Vanke (2202 HK). 
• As per Frost & Sullivan, amongst the residential community service providers in China, OST ranked first. It also ranked first in the commercial space integrated services market in China.
• In this note, we will run the deal through our ECM framework and talk about valuations.

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.

• China Vanke
• Country Garden Holdings Co

• While the pandemic has uprooted many industries, perhaps none have seen a larger impact than the Restaurant and Fast Food Industry.
• These industries have been hit with a barrage of issues including a mass exodus of workers, inflation hitting the prices of ingredients, and foot traffic being much lower due to a change in eating preferences.
• These chains have struggled with their profit margins, which have yet to reclaim their pre-covid levels and could get worse due to several headwinds in the coming months.

• Probably the best news of the week was that a rail strike in the US was averted after both parties agreed on a deal including higher wages and benefits for rail workers.
• The deal includes a 24% wage increase over five years, including 14,1 % effective immediately as well as five annual $1.000 payments, according to the National Carriers’ Conference Committee.
• According to the Bureau of Labor Statistics, there are currently 150.000 people working in the US railway sector.