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Yutian Environmental Development Group Co., Ltd.
Credit Rating Report on the Issuance of Convertible Corporate Bonds to Unspecified Qualified Investors
China Lianhe Credit Rating Co., Ltd.
Professional | Diligence | Integrity | Service
[Chart: Credit rating announcement]
Credit Rating Announcement
Lianhe [2025] No. 9948
China Lianhe Credit Rating Co., Ltd. has conducted a comprehensive analysis and evaluation of the credit status of Yutian Environmental Development Group Co., Ltd. and its proposed issuance of convertible corporate bonds to unspecified qualified investors. The long-term corporate credit rating of Yutian Environmental Development Group Co., Ltd. is determined to be AA, and the credit rating for its convertible corporate bonds is AA, with a stable rating outlook.
This announcement is hereby issued.
Rating Director: [blank]
September 28, 2025
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Disclaimer
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This report is based on the independent opinion formed by China Lianhe as of the date of publication, following its rating methodology and procedures. It does not represent the views of any other institution or individual. The rating conclusions and related analysis are based on forward-looking views regarding the rated entity and are not factual statements or appraisal opinions. China Lianhe has exercised due diligence to ensure the report adheres to the principles of truth, objectivity, and fairness. Given the limitations in information acquisition, rating methodologies, and future event forecasting, this report is subject to inherent limitations.
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This report is issued at the request of Yutian Environmental Development Group Co., Ltd. (hereinafter referred to as "the Company"). Except for the rating relationship established for this specific issuance, there are no independent or impartial relationships between China Lianhe and its rating personnel and the Company that would affect the rating.
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The information cited in this report is primarily provided by the Company or third-party entities. China Lianhe has performed necessary due diligence but does not guarantee the authenticity, accuracy, or completeness of the cited information. China Lianhe assumes no responsibility for professional opinions issued by other professional institutions.
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The credit rating results are applicable only to this specific issuance and are valid for the duration of the bonds. Based on follow-up rating conclusions, the rating results may change within the validity period. China Lianhe reserves the right to adjust, update, terminate, or withdraw the rating results.
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The rating conclusions and related analysis in this report do not constitute any investment or financial advice and should not be viewed as recommendations to purchase, sell, or hold any financial products.
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This report cannot replace the professional judgment of any institution or individual. China Lianhe is not responsible for any losses incurred by any institution or individual resulting from the use of this report or the rating results.
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Overview of Debt
The issuance scale is 1.5 billion yuan with a 6-year term. The term begins from the first trading day six months after the end of the issuance period. The proceeds are intended for the environmental equipment configuration project and supplementary working capital. The bonds include provisions for conversion price adjustments, downward revisions, and redemption.