HONG KONG, 10 September 2025 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has affirmed ‘A-’ global scale Long-term Issuer Credit Rating to Chengdu Chenghua Development Group Co., Ltd. (“CCD” or “the company”); The Outlook is stable.
The Issuer Credit Rating reflects a high possibility that the People’s government of Chenghua District (“the Chenghua government”) would provide very strong support to CCD if needed. This mainly considers the Chenghua government’s 90% ownership of CCD, CCD’s strategic position as the flagship platform in Chengdu’s Chenghua District (“Chenghua”). The linkage between the Chenghua government and CCD is strong, including management supervision, strategic alignment, and ongoing operational and financial support. In addition, the Chenghua government may face significant negative impact on its reputation and financing activities should CCD encounter any operational or financial difficulties.
Chenghua is a municipal district in the main urban area of Chengdu, the capital city of Sichuan Province. In 2024, Chenghua’s GDP grew steadily by 5.7% to RMB150.5 billion, yet its budgetary revenue dropped by 28.2% to RMB6.3 billion.
The Stable Outlook reflects our expectation that CCD’s strategic importance would remain intact while the Chenghua government will continue to ensure CCD’s stable operation.