Correction: Lianhe Ratings Global Limited (“Lianhe Global”) has affirmed ‘BBB’ global scale Long-term Issuer Credit Rating of Nanxun Communications Investment Group Co., Ltd. (“NCIG” or “the company”); Outlook Stable
This replaces the rating report published on 7 November 2025. The Issuer Credit Rating reflects a high possibility that the People’s Government of Nanxun District, Huzhou City (“the Nanxun government”) would provide strong support to NCIG if needed, in light of its 100% ownership of NCIG and NCIG’s strategic importance as the important local investment and development company responsible for transportation infrastructure development and operation. The linkage between the Nanxun government and NCIG is strong, including management supervision, strategic alignment and ongoing operational and financial support. In addition, the Nanxun government may face significant negative impact on its reputation and financing activities if NCIG encounters any operational and financial difficulties.
Nanxun is a municipal district in Zhejiang’s Huzhou City. Its GDP grew steadily by 5.7% to RMB60 billion in 2024, while budgetary increased by 5.5% to RMB4.4 billion.