HONG KONG, 24 October 2025 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has assigned ‘A’ global scale Long-term Issuer Credit Rating to Yancheng Haiying Industrial Development Group Co., Ltd. (“YCHY” or “the company”); The Outlook is stable.
The Issuer Credit Rating reflects a high possibility that the People’s Government of Yancheng City (“the Yancheng government”) would provide very strong support to YCHY if needed. This mainly considers the Yancheng government’s direct full ownership of YCHY, YCHY’s strategic importance as a major local investment and development company (“LIDC”) responsible for infrastructure construction, state-owned asset investment and industry operation in Yancheng, and the strong linkage between the Yancheng government and YCHY, including management supervision, strategic alignment, and ongoing operational and financial support. In addition, the Yancheng government may face significant negative impact on its reputation and financing activities if YCHY encounters any operational or financial difficulties.
Yancheng is a prefecture-level city of Jiangsu Province. In 2024, Yancheng’s GDP grew by 5.5% to RMB777.9 billion and its budgetary revenue reached RMB49.6 billion.
The Stable Outlook reflects our expectation that YCHY’s strategic importance would remain intact while the Yancheng government will continue to ensure YCHY’s stable operation.