Recently, Shanghai Horizon Construction and Development Co., Ltd. (hereinafter referred to as "Horizon Construction Development"), a subsidiary of Far East Horizon, received the AA + corporate credit rating granted by China Chengxin International Credit Rating Co., Ltd. (hereinafter referred to as "CCXI"), and the rating outlook is stable. Horizon Construction Development became the first operating leasing company in the industry to obtain AA + corporate credit rating.

The rating report pointed out that Horizon Construction Development provided all kinds of enterprises in the construction field with one-stop solutions, such as equipment leasing, engineering construction, agency sales, spare parts sales, second-hand equipment disposal, maintenance and remanufacturing. It has built up strong market competitiveness through its nationwide operation network and composite operation capability. CCXI recognized the supporting role of such positive factors as strong shareholder background, increased capital strength after capital increase, better asset quality and continuous enrichment of financing channels on the Horizon Construction Development's overall operation and credit level.

According to market research institutions, obtaining AA + corporate credit rating indicates that Horizon Construction Development has been fully recognized by authoritative rating agencies in China. Its credit image in the capital market has been significantly improved, which is essential to further expand financing varieties, attract more high-quality investors and reduce financing costs, and is conducive to the realization of the strategic goal of "full industrial chain, full scene and one-stop equipment operation in the construction field".

CCXI is a rating agency recognized by the National Development and Reform Commission, the People's Bank of China, the CIRC and other regulatory agencies. It is the longest-standing and most qualified domestic professional credit rating agency and enjoys a good reputation and extensive influence in the capital market.