Core Viewpoint - The Qingdao West Coast Tourism Investment Group Co., Ltd. has been assigned an "AA" rating by China Chengxin International, reflecting its strong economic and financial capabilities within the Qingdao region and its potential for continued growth [1][3]. Group 1: Company Overview - Qingdao West Coast Tourism Investment Group was established on May 23, 2017, with an initial registered capital of 3 billion yuan (approximately 30 million) [2]. - The ownership structure includes 68% held by the Qingdao Huangdao District State-owned Assets Management Office and 32% by Chengfa Investment Group Co., Ltd. [2]. - As of March 2025, the registered capital remains at 3 billion yuan, with paid-in capital of 1.117 billion yuan [2]. Group 2: Financial Strength and Support - The company is recognized as a key player in the management of state-owned assets and tourism project development in the West Coast New Area, benefiting from government support [1][2]. - The economic strength of the West Coast New Area is noted to be the highest among all districts in Qingdao, indicating a robust financial backing for the company [1]. Group 3: Credit Stability and Challenges - China Chengxin International anticipates that the credit level of the company will remain stable over the next 12 to 18 months [3]. - However, the company faces significant capital expenditure pressures, short-term debt repayment challenges, and operational difficulties in its tourism and hotel businesses [1].