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HONG KONG, Oct 27, 2014 - (ACN Newswire) - Hanhua Financial Holding Co., Ltd. ("Hanhua" or the "Company", and, together with its subsidiaries, the "Group"; stock code: 3903), the largest credit guarantee company and the third-largest lender of micro and small loans in China in terms of geographical presence, today announced that Hanhua Guarantee Corporation Limited ("Hanhua Guarantee"), its wholly-owned subsidiary, received an updated credit rating tracking report on 23 October from Pengyuan Credit Rating Co., Ltd. ("Pengyuan Credit"), whereby Hanhua Guarantee was granted an "AA+" issuer credit rating with stable outlook. This is the third "AA+/Stable" credit rating granted to Hanhua Guarantee since it was granted the same in September by Shanghai Brilliance Credit Rating & Investors Service Co., Ltd and China Chengxin Securities Rating Company Limited, respectively.
Pengyuan Credit, the first professional and authoritative credit rating agency in the Peopl's Republic of China ("PRC") credit rating industry possessing the official written approval of rating qualifications from the National Development and Reform Commission of the People's Republic of China ("NDRC"), upgraded Hanhua Guarantee to "AA+" credit rating with stable outlook from "AA" which was granted in June, 2014, according to the credit rating tracking report. After a comprehensive analysis and evaluation on various aspects including Hanhua Guarantee's operating environment, business circumstances, financial strength and so forth, Pengyuan Credit Committee highly recognized Hanhua Guarantee's sustainable enhancement of guarantee financing capability, continuous improvement of risk resistance capacity and expansion on financing channels, and further regulation on corporate operations.
Mr. Zhang Guoxiang, Chairman, executive Director and President of Hanhua said, "The granting of 'AA+' credit ratings by three different agencies in a row to Hanhua Guarantee demonstrates a high recognition of Hanhua's business development by the market. With our improving capital strength and expanding business scale, Hanhua will seek cooperation with more banks so as to enjoy a larger scale of bank credit which can fully bring out Hanhua's leverage. We will proactively develop debt guarantee and credit enhancement business by leveraging our existing strengths. Moreover, we will continue our efforts in refining risk management and corporate governance, and pursue rapid business expansion with sustainable enhancement in guarantee capacity as well as corporate management level. We will proactively deploy Internet finance business to meet the diverse financing and business needs of SMEs and microenterprises and to offer comprehensive credit-based financial services, therefore achieving another breakthrough of Hanhua's development and generating fruitful returns for shareholders."
About Pengyuan Credit Rating Co., Ltd.
Founded in 1993, Pengyuan Credit has been recognized by the People's Bank of China, China Securities Regulatory Commission and the National Development and Reform Commission of the People's Republic of China ("NDRC") with License of Stock Market Credit Rating and License for National Enterprise Bond Credit Rating, being the first rating agency in the People's Republic of China credit rating industry possessing the official written approval of rating qualifications from NDRC.
About Hanhua Financial Holding Co., Ltd.
Hanhua Financial Holding Co., Ltd. is the largest credit guarantee company and the third largest lender of micro and small loans in China in terms of geographical presence. The Group offered credit guarantee services and entrusted loans in 21 provinces. It also developed micro and small loan services in 9 provincial-level cities. As of 31st December 2013, the Group entered into cooperation arrangements with 65 commercial banks in China. These banks have agreed to extend over RMB38 billion of credit lines in aggregate to borrowers which the Company provides bank financing guarantees. With a strong capital base and robust financial performance, Hanhua received favourable ratings from many of the credit rating agencies recognized by the Chinese government authorities. Hanhua seeks to further grow its business into a premier diversified and integrated financial service company in China.
Issued by Porda Havas International Finance Communications Group for and on behalf of Hanhua Financial Holding Co., Ltd.
Porda Havas International Finance Communications Group
Mr. Paul Sham +852 3150 6730 paul.sham@pordahavas.com
Ms. Camille Xiong +852 3150 6799 camille.xiong@pordahavas.com
Ms. Karen Li +852 3150 6713 karen.li@pordahavas.com
Ms. Ivy Lu +852 3150 6778 Ivy.lu@pordahavas.com
Ms. Coco Cheng +852 3150 6795 coco.cheng@pordahavas.com
Fax: +852 3150 6728
Topic: Press release summary
Source: Hanhua Financial Holding Co., Ltd.
Sectors: Daily Finance, Daily News
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