Lianhe Global withdraws Zhejiang Changsanhe Holding Group Co., Ltd.’s global scale Long-term Issuer Credit Rating for Commercial Reasons

HONG KONG, 22 September 2025 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has withdrawn the global scale Long-term Issuer Credit Rating of Zhejiang Changsanhe Holding Group Co., Ltd. (“ZCHG”; ‘A-/Stable).

The rating was withdrawn for commercial reasons.