Lianhe Global withdraws Kasen International Holdings Limited’s global scale Long-term Issuer Credit Rating for Commercial Reasons

HONG KONG, 31 December 2025 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has withdrawn the global scale Long-term Issuer Credit Rating of Kasen International Holdings Limited (“KASEN”; ‘BBB-/Stable).

The rating was withdrawn for commercial reasons.