Recently, Beijing North Star Company Limited (the “Company”) received the ongoing credit rating report issued by United Credit Ratings Co., Ltd. stating that the Company was upgraded to an AAA long-term corporate credit rating and its rating outlook is stable; at the same time, the bond credit ratings of “14 NORTH STAR 02” and “16 NORTH STAR 01” issued by the Company were both upgraded to AAA. The Company also received the ongoing credit rating report issued by Shanghai Brilliance Credit Rating & Investors Service Co., Ltd. stating that the Company was upgraded to an AAA corporate credit rating and its rating outlook is stable; at the same time, the bond credit ratings of “19 NORTH STAR F1” and “20 NORTH STAR 01” issued by the Company were both upgraded to AAA.