HONG KONG, 21 January 2026 – Lianhe Ratings Global Limited (“Lianhe Global”), an international credit rating company, has upgraded the global scale Long-term Issuer Credit Rating of Qingdao Haifa State-owned Capital Investment and Operation Group Co., Ltd. (“QDHF” or “the company”) to ‘A+’ from ‘A’. The Outlook is revised to Stable from Positive.