Henan City development environment credit rating elevated to AAA

Henan City Development Environment's credit rating has been upgraded to AAA with a stable outlook, due to its increased strategic importance within the Henan provincial state-owned asset system and as a key player in ecological development initiatives. The company's solid waste treatment capacity and operational efficiency are considered to be among the best in the industry. It is expected to continue integrating resources and expand its waste-to-energy business. A strategic push towards integrated water management throughout the province is poised to significantly boost its water services. Core highway assets provide stable revenue streams, though attention is warranted on the impact of accounts receivable on liquidity. In 2023, the company's total revenue was CNY 6.522 billion, with a total asset value of CNY 291.28 billion. As of September 2024, operational waste treatment capacity reached 28,550 tons/day.