公告日期：2025-04-29

Stock： WazhouB Code：200706 No.：2025-23

Wafangdian bearing Co., LTD

Announcement on Changes in Accounting Policies

Our company, the whole members of the board of directors and top managements ensured the truth,
accuracy, completeness, no false record, misleading statement and fatal omit of the announcement.

Wafangdian Bearing Co., LTD. (hereinafter referred to as the "Company") has
made changes in accordance with the relevant provisions of the "Interpretation
No. 18 of Accounting Standards for Business Enterprises" (CAI Kuai [2024] No.
24) (hereinafter referred to as the "Interpretation No. 18") issued by the Ministry of
Finance of the People's Republic of China (hereinafter referred to as the "Ministry
of Finance"), which will not have a significant impact on the Company's financial
position and operating results. Nor is there any situation that harms the interests
of the company and its shareholders. The specific matters of this accounting
policy change are as follows:

I. Overview of This Accounting Policy Change

1. Reason for change

In December 2024, the Ministry of Finance issued Interpretation No. 18,
stipulating that for the estimated liabilities arising from quality guarantees of the
guarantee type that do not fall under individual performance obligations, they
should be recorded in the "Main Business Cost" and "Other Business Cost"
accounts at a determined amount, and no longer be recorded in "Selling
Expenses". It shall come into effect on December 6, 2024. Due to the above
regulations of the Ministry of Finance, the company will make corresponding
changes to the original accounting policies and implement them from the
prescribed starting date.

2. Accounting policies adopted before the change This accounting policy

Before the change, the company implemented the "Basic Standards of
Accounting Standards for Business Enterprises" and various ……
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