Jiangxi Wannianqing Cement Co., Ltd. 2026 Annual Tracking Rating Report
Report No.: Credit Rating Committee Letter [2026] Tracking 0355
Declaration
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China Chengxin International Credit Rating Co., Ltd.
June 3, 2026
Issuer and Rating Results
Jiangxi Wannianqing Cement Co., Ltd.
Rating: AA+/Stable
Tracking Debt and Rating Results
"25 Jiangni 01"
Rating: AA+
Reasons for Tracking Rating
According to international practices and regulatory requirements, China Chengxin International needs to conduct tracking ratings of the company's bonds during their existence to monitor their risk levels. This rating is a periodic tracking rating.
Rating Opinion
This tracking maintains the previous rating conclusions for the entity and the debt, primarily based on the company's advantages in maintaining a scale in clinker and cement production within Jiangxi Province, strong regional competitive strength, abundant limestone reserves, stable coal supply, and low financial leverage, which provide strong support for the company's overall credit strength.
At the same time, China Chengxin International notes the prominent supply-demand contradictions in the provincial cement market, the continued decline in sales scale, the shift from profit to loss in operational business profits, increased impairment provisions, and the need to monitor profit recovery; accounting rectification and the stability of equity are also factors that may impact overall operations and credit status.