HONG KONG, 3 September 2025 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has assigned ‘A+’ global scale Long-term Issuer Credit Rating to Shenzhen Longhua Construction Development Co., Ltd. (“SLCD” or “the company”). The Outlook is Stable.
The Issuer Credit Rating reflects a high possibility that the People’s Government of Longhua District, Shenzhen City (“Longhua government”) would provide very strong support to SLCD if needed. This mainly considers the Longhua government’s direct fully ownership of SLCD, SLCD’s strategic position as an important local investment and development company (“LIDC”) responsible for urban construction and operation in Longhua District (“Longhua”). The linkage between the local government and SLCD is strong, including management supervision, strategic alignment, and ongoing operational and financial support. In addition, the local government may face significant negative impact on its reputation and financing activities should SLCD encounter any operational or financial difficulties.
Longhua, positioned in north-central Shenzhen, serves as an important growth engine within China’s Greater Bay Area. In 2024, Longhua’s GDP grew steadily by 5.6% to RMB315.4 billion, while its budgetary revenue decreased by 1.9% to RMB16.5 billion.
The Stable Outlook reflects our expectation that SLCD’s strategic importance would remain intact while the Longhua government will continue to ensure SLCD’s stable operation.