According to the announcement released by Shenzhen International (00152), on May 15, 2024, Fitch International Credit Rating Co., Ltd. (hereinafter referred to as "Fitch International") downgraded Shenzhen International's long-term issuer default rating from BBB+ to BBB, with an outlook adjusted from "negative" to "stable".

The main reason for this rating adjustment is that Fitch International expects the company's toll road and logistics park businesses to continue to have significant debt financing capital expenditure plans in the future. The net leverage ratio (net debt/EBITDA) for the next four years will be higher than in previous years.

The overall operation of the company is currently normal, and China Chengxin International Credit Rating Co., Ltd. has maintained the latest ratings for the company's main body and debt at AAA/AAA. The above-mentioned matters are not expected to have an adverse impact on the company's debt repayment ability. The company reminds investors to pay attention to relevant risks related to the above-mentioned matters.

During the existence of the corporate bonds, the company will fulfill its disclosure obligations, strictly abide by relevant disclosure rules, make disclosure in accordance with laws and regulations, and repay principal and interest on time.