China Yongda Automobile Services Hldg : Shanghai Brilliance Rating Upgrades Yongda’s Credi...

(Hong Kong， 21 June 2019) China Yongda Automobiles Services Holdings Limited ('Yongda Auto' or the 'Company' and， together with its subsidiaries， the 'Group'， stock code: 3669)， a leading passenger vehicle retailer and comprehensive service provider in China， is pleased to announce that， the rating outlook of Shanghai Yongda Investment Holdings Group Co。， Ltd， the company' wholly owned subsidiary incorporated in the PRC， has been upgraded to 'stable' by Shanghai Brilliance Rating， and its corporate credit rating has been affirmed at 'AA+'。

Shanghai Brilliance Rating is one of the leading credit rating agencies in China， which provides credit services such as bond rating and corporate credit evaluation。 This is the first time for Yongda Automobiles to be rated AA+ for the credit rating。 The upgrade reflects that Yongda's sound financial status and good business operation are recognized by the market， and such improvement is a significant move for the Company's development。

On one hand， it is an embodiment of Yongda Automobiles's long-term stable management style and good business performance。 Despite the fluctuations and adjustments of the automobile sales industry， the Company has achieved good market performance。 On the other hand， it effectively enhances the Company's reputation in the capital and bond markets， further strengthening the recognition and investment confidence of the financial institutions like commercial banks and investment banks， as well as the investors。 There will be more rooms for improvement in terms of financing scale and financing costs， thus helping the Company to reduce its financing costs and increasing profits。

About China Yongda Automobiles Services Holdings Limited (Stock code: 3669)

Yongda Auto is a leading passenger vehicle retailer and comprehensive service provider in China， focusing on luxury and ultra-luxury automobile brands， including BMW， Bentley， Aston Martin， Porsche， Mercedes-Benz， Jaguar， Land Rover， Audi， Lincoln， Volvo， Infiniti， Cadillac， and Lexus。 Yongda Auto's extensive 4S dealership network has a strong presence in China。 Yongda Auto initiated the comprehensive vehicle sales industry chain including trainings， purchases， vehicles resales， rental， repairs and inspections。 Yongda Auto is committed to providing a comprehensive range of automobile-related services， which includes new vehicle sales， automobile finance and insurance， auto accessories， after-sales services， pre-owned vehicles replacement and sales， repair chain brand， auto spare parts and maintenance and other related services。 The Group builds an omni-channel retail industry condition combined by online platform and offline networks， creating efficiency auto-life service platform。 The Group has garnered China's Top 500 Enterprises (中國企業500强)， China Well-known Trademark (中國馳名商標)， China's Top 100 Automobile Dealerships (中國汽車經銷商集團百强企業) and Civilized Unit in China (全國文明單位)。