Fitch Ratings, one of the three major international rating agencies, announced today that it has upgraded the long-term foreign and local currency issuer default ratings of China Shandong Hi-Speed ​​Financial Group Co., Ltd. (stock code: 0412.HK, stock abbreviation: Shandong Hi-Speed ​​Financial) from BBB+ to A-. Shandong Hi-Speed ​​Financial becomes the first overseas subsidiary of a provincial-level state-owned enterprise in Shandong Province to receive an A- rating.

Shandong Hi-Speed ​​Financial is the only overseas investment and financing and financial holding platform under Shandong Hi-Speed ​​Group. In recent years, Shandong Hi-Speed ​​Financial has steadily promoted its strategic transformation, committed to building an excellent industrial investment platform, and accelerating its layout in strategic emerging industries such as new energy, green environmental protection, new consumption, and new technology. On May 19, Shandong Hi-Speed ​​Financial completed the acquisition of Beijing Enterprises Clean Energy Group, becoming its controlling shareholder with a 43.45% stake. Beijing Enterprises Clean Energy Group is expected to become the flagship enterprise of Shandong Hi-Speed ​​Group’s new energy sector in the future.

Fitch Ratings’ upgrade of Shandong Hi-Speed ​​Financial’s credit rating reflects its increasingly strong creditworthiness and will help boost investor confidence in the company. Shandong Hi-Speed ​​Financial stated that it will fully leverage the resource and brand advantages of its controlling shareholder, Shandong Hi-Speed ​​Group, and utilize its business network covering mainland China, Hong Kong, and Singapore to continue exploring investment opportunities in strategic emerging industries and cultivate new growth points for its business.