Lianhe Global downgrades Golden Wheel Tiandi Holdings Company Limited’s global scale Long-term Issuer and Issuance Credit Rating from ‘B+’ to ‘B’; Issuer Rating Outlook Stable; Removes Rating Watch Negative

HONG KONG, 30 April 2021 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has downgraded the global scale Long-term Issuer Credit Rating to Golden Wheel Tiandi Holdings Company Limited (1232.HK) (“Golden Wheel” or “the company”) from ‘B+’ to ‘B’. The Outlook is Stable.