Overview Key strengths Key risks Integral to Sinochem Holdings Corp. Ltd. as a direct extension of the group. Benefits from parent support for refinancing. Profitability and turnover pressure on Sinochem Hong Kong?s property development business from China's property downturn. Sinochem Holdings has a very high likelihood of receiving extraordinary support from Chinese government, if needed. Sinochem Holdings still has very high leverage after taking over hefty debt from China National Chemical Corp. Ltd. (ChemChina) in 2021. Sinochem Holdings has global leading market positions in agriculture, animal nutrition, and silicone material businesses. Earnings of Sinochem Holdings fluctuate with energy and chemical product prices. The company's creditworthiness is driven by that of its parent. The company is a direct extension of Sinochem
