Lianhe Global withdraws Jinan Quanbang Industrial Development Co., Ltd.’s global scale Long-term Issuer Credit Rating for Commercial Reasons

HONG KONG, 12 December 2025 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has withdrawn the global scale Long-term Issuer Credit Rating of Jinan Quanbang Industrial Development Co., Ltd. (“JQID”; ‘BBB-/Stable).

The rating was withdrawn for commercial reasons.