HONG KONG, 28 February 2025 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has withdrawn the global scale Long-term Issuer Credit Rating of Puyang Kaizhou Investment Group Co., Ltd. (“PKIG”; ‘BBB-/Stable’). Lianhe Global has also withdrawn the global scale Long-term Issuance Credit Rating of the senior unsecured guaranteed CNY bonds issued by PKIG. The ratings were withdrawn for commercial reasons.