CALC (TJ) Receives AAA Ratings from Major Chinese Credit Rating Agencies

Hong Kong and Tianjin, 31 May 2023 – China Aircraft Leasing Group Holdings Limited ("CALC" or the “Company”, HKSE stock code: 01848; together with subsidiaries, the “Group”), a full value chain aircraft solutions provider for the global aviation industry, is pleased to announce that its wholly-owned subsidiary China Asset Leasing Company Limited (“CALC (TJ)”) has received a corporate credit rating of AAA from Dagong Global Credit Rating (“Dagong Global”) with a stable outlook and an upgrade to AAA for both its corporate credit rating and bond credit rating from China Chengxin International Credit Rating Co. Ltd. (“CCXI”), with a stable outlook, respectively. This has not only illustrated the recognition of CALC (TJ)’s integrated strengths by authoritative rating agencies, but also highlighted CALC (TJ)’s strong fundamentals which support its continued business development in spite of the challenging environment of aviation industry.

Dagong Global’s rating outcome reflects that (1) aircraft leasing sector is expected to benefit from the rebound of China’s aviation market; (2) CALC (TJ)’s competitiveness has been continuously improved; (3) CALC (TJ) has a portfolio of highly liquid and quality aircraft with stable market value and also has a strong order book; (4) its actual controller China Everbright Limited has continued to render support on CALC (TJ) in the areas of liquidity and business expansion; and (5) it has strong financing capabilities with unobstructed debt financing channels.

CCXI affirms that CALC (TJ) has strong support from its shareholders and high level of specialization, continuously improving its capital strengths. It also has strong abilities to maintain and increase the value of aircraft assets, which is beneficial to its operations. CCXI recognizes the advantages of CALC (TJ), resulting in its upgrade on CALC (TJ)’s credit rating from AA+ to AAA.

Ms. Winnie Liu, Executive Director and Chief Commercial Officer of CALC and Director of CALC (TJ), said: "The rating result is a manifestation of the improvement of CALC (TJ)'s solvency and credit standing, which not only reinforced our confidence and determination of continuing the full value chain mode and the road of specialization, but also will further enhance our sustainable development capabilities. Along with the support of China Everbright Limited in guidance, capital, and resources, CALC (TJ) has always adhered to the strategic direction of “Taking root in China and serving China”. We have been deeply involved in the aircraft asset management business for a number of years, and our operating advantages have continued to emerge, with a solid market leading position. We are grateful to the rating agencies for their affirmation of CALC’s (TJ)’s operating achievements over the years, which will help us broaden financing channels, enhance core competitiveness, and take business development to a new level.”