Lianhe Ratings Global Limited (“Lianhe Global”) has affirmed ‘BBB+’ global scale Long-term Issuer and Issuance Credit Ratings of XMXYG Corporation; Issuer Rating Outlook remains Positive
The Issuer Rating reflects XMXYG’s leading market position in comprehensive supply chain management industry and track record of revenue growth, supported by its established nationwide logistics network and the strengthening of its comprehensive service capability. Moreover, XMXYG has proven track record of strong external support from Xiamen government. However, the rating is constrained by XMXYG’s relatively high financial leverage and low profit margin.
The Positive Outlook reflects our expectation that XMXYG will continue to consolidate and strengthen its leading market position in the comprehensive supply chain management industry, utilize its nationwide and overseas logistics network, strengthen its strategic importance to the local government in port construction and operation, while remain prudent in its expansion pace with demonstrated efforts to maintain its operating efficiency and improve its profitability.