Lianhe Global downgrades Sinic Holdings (Group) Company Limited’s global scale Long-term Issuer Credit Rating and Issuance Credit Rating to ‘D’ from ‘CCC+’

HONG KONG, 4 October 2021 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has downgraded the global scale Long-term Issuer Credit Rating of Sinic Holdings (Group) Company Limited (2103.HK) (“Sinic” or “the company”) to ‘D’ from ‘CCC+’ .