According to the South China Morning Post, Zhuhai Huafa Group stated in a filing submitted to the Shanghai Stock Exchange on Tuesday that, based on its own needs and actual operating conditions, it is terminating its credit rating engagement with Lianhe. The rating agency announced on the same day the withdrawal of Huafa's issuer rating and the ratings of 16 corporate bonds. The report also mentioned the backdrop of Fitch's previous downgrade of Huafa's rating, noting that this domestic rating adjustment is a withdrawal following the termination of the engagement.