HONG KONG, 17 January 2025 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has affirmed ‘A-’ global scale Long-term Issuance Credit Rating to the Proposed Credit Enhanced JPY Bonds (“the Bonds”) issued by Dongyang State-owned Assets Investment Co., Ltd. (“DSAI”; ‘BBB+’/Stable). The bonds will have the benefit of JPY-denominated irrevocable standby letter of credit (“the SBLC”) issued by Bank of Hangzhou Co., Ltd. (“BOH”)’s Jinhua Branch.