[PR] Zhengzhou Zhengshangxincheng Construction and Development Group Co., Ltd. | Green Finance Framework SPO

Hong Kong, Mar 31, 2025 - Lianhe Green Development Company Limited (hereafter referred to as “Lianhe Green”), an external reviewer recognised by the Hong Kong Monetary Authority’s Green and Sustainable Finance Grant Scheme, has provided its Second-Party Opinion on the Green Finance Framework (hereafter referred to as “the Framework”) of Zhengzhou Zhengshangxincheng Construction and Development Group Co., Ltd. (hereafter referred to as the “Issuer Group”). Under the Framework, the Issuer Group can issue green bonds, green loans or any other similar forms of debt instruments.

The Framework has received a Good assessment opinion from Lianhe Green. Lianhe Green has reviewed the following pillars addressed in the Framework:

» Use of Proceeds

» Process for Project Evaluation and Selection

» Management of Proceeds

» Reporting

» External Reviews

Upon assessment, Lianhe Green considers that the Framework and the eligible green projects listed in the Framework are in compliance with the Green Bond Principles (GBP) (June 2021 Edition (with June 2022 Appendix 1)) and the Green Loan Principles (GLP) (February 2023 Edition). At the same time, Lianhe Green’s assessment includes the contributions of the project categories to the relevant United Nations Sustainable Development Goals.

The Issuer Group is substantially controlled by Zhengzhou Shangjie District SASAC. Since its establishment in 2004, the Issuer Group has been serving as the main construction entity in Zhengzhou City. Leveraging on the development of Zhengzhou City, strong shareholder’s support and the experienced management team of the Issuer Group, the Issuer Group has played an important role in the development of Zhengzhou City. To perform its function as the core operating entity carrying out urban development activities in Zhengzhou City, the Issuer Group has developed a diversified business portfolio, including land consolidation, construction, municipal infrastructure maintenance, security services, labor services, etc. As a state-owned enterprise, Lianhe Green believes the Issuer Group’s strategies to align with the Chinese government’s strategies and relevant policies, such as China’s pledge to peak carbon emissions by 2030 and achieve carbon neutrality by 2060.

About Lianhe Green

Lianhe Green Development Company Limited (“Lianhe Green”) was established in 2023 and is a subsidiary of Lianhe Credit Management Co., Ltd. (“Lianhe Group”) and Lianhe Equator Environmental Assessment Co., Ltd. (“Lianhe Equator”), which is a third-party consulting and certification service provider in China with multiple professional technical edges in "Sustainable Financing, energy conservation and protection, and carbon testing/certification". Headquartered and registered in Hong Kong, Lianhe Green is an external reviewer recognized under the Hong Kong Monetary Authority’s Green and Sustainable Finance Grant Scheme. Lianhe Green is mainly responsible for green and sustainable finance certification business in international markets, ESG reporting and consulting, ESG training services, and assists in operating carbon market-related businesses within and outside China.

Lianhe Green aims to become an internationally recognized external verifier for sustainable finance through cooperation with Lianhe Equator's professional and experienced team in this industry. With a goal of "shaping the origin of the earth and sky, and transmitting the civilization of mankind", Lianhe Green is committed to helping Chinese and foreign enterprises demonstrate their determination in sustainable development, and providing investors with independent and objective third-party certification services. Leaving green and oceans to future generation is our mission and ambition.

Analytical Standards

»       Green Bond Principles (GBP) (June 2021 Edition)

»       Green Loan Principles (GLP) (February 2023 Edition)

Contacts

Polex Lam, CESGA® CEng CEnv

Managing Director

+852 3596 3026

polex.lam@lianhegreen.com 

Kathleen Liu

Associate Analyst

+852 3596 3052

kathleen.liu@lianhegreen.com

Disclaimer

A Lianhe Green SPO is an assessment of the Framework of entities. It is not a credit rating.

Please note that individuals identified in a SPO report are not responsible for the opinions stated therein and are named for contact purposes only. Our report is neither a prospectus nor a substitute for the information assembled, verified and presented to investors by the issuer and its agents in connection with the sale of financial instruments and securities.

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