Announcement on the Tracking Rating Results of Souyute Group Co., Ltd.'s Public Issuance of Convertible Bonds in 2023
United Credit Ratings Co., Ltd. (hereinafter referred to as "United Credit") has been commissioned by Souyute Group Co., Ltd. (hereinafter referred to as "the Company") to conduct a credit rating for the Company and its related bonds. On November 29, 2022, United Credit issued a rating announcement, downgrading the Company's long-term credit rating from B to CCC, and the credit rating of "Souyute Convertible Bonds" from B to CCC, with a negative outlook. As of the date of this announcement, the outstanding bonds rated by United Credit are the "Souyute Convertible Bonds." As of the end of March 2023, the remaining balance of the "Souyute Convertible Bonds" is 798 million yuan, and the Company has paid the interest on the "Souyute Convertible Bonds" in full and on time for the current year.
| Bond Name | Issuance Amount (billion yuan) | Bond Balance (billion yuan) | Start Date | Term |
|---|---|---|---|---|
| Souyute Convertible Bonds | 8.00 | 7.98 | 2020-03-12 | 6 years |
Source: United Credit, compiled from public information.
On April 25, 2023, the Company released its "2022 Annual Report of Souyute Group Co., Ltd." Based on public information, United Credit noted the following matters: