HONG KONG, 30 December 2025 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has assigned ‘BBB-’ global scale Long-term Issuer Credit Rating to Yutai County Kangquan Agricultural Development Co., Ltd. (“YCKAD” or “the company”). The Outlook is Stable.
The Issuer Credit Rating reflects a high possibility that the People’s Government of Yutai, Jining City (“Yutai government”) would provide very strong support to YCKAD if needed, in light of its indirect full ownership of YCKAD, YCKAD’s strategic importance as the key entity for market-oriented operations and agricultural development in Yutai County, Jining City (“Yutai”) and the linkage between the local government and YCKAD, including appointment of the senior management, strategic alignment, supervision of major investment and financing decisions and ongoing operational and financial support. In addition, the Yutai government may face significant negative impact on its reputation and financing activities if YCKAD encounters any operational and financial difficulties.
Yutai is a county directly under the jurisdiction of Jining City, and located in the southwestern part of Shandong Province. Yutai’s GDP grew by 5.4% to RMB26.4 billion in 2024, while its budgetary revenue reached RMB1.6 billion in 2024.
The Stable Outlook reflects our expectation that YCKAD’s strategic importance would remain intact while the Yutai government will continue to ensure YCKAD’s stable operation.