公告日期：2025-04-29

Stock abbreviation: Wazhou B Stock code: 200706 No.: 2025-15
Wafangdian Bearing Co., Ltd.

Announcement on the provision for credit Impairment and asset
Impairment in 2024

The Company and all members of the BOD guarantee that the information disclosed is true,
accurate and completed, and that there are no false records, misleading statements or material
omissions.

I. Overview of the provision for asset impairment

Wafangdian Bearing Co., LTD. (hereinafter referred to as the "Company") deliberated
and passed the "Motion on the Provision of Credit Impairment Reserves and Asset
Impairment Reserves in 2024" at the sixteenth meeting of the ninth Board of Directors
and the tenth meeting of the ninth Board of Supervisors held on April 25, 2025. The
details are hereby announced as follows:

1. Reasons for the provision of credit impairment reserve and asset impairment
reserve

In accordance with the relevant provisions of the Accounting Standards for Business
Enterprises and the Company's accounting policies, in order to truly and accurately
reflect the Company's asset position and financial position as at December 31, 2024,
the Company conducted a comprehensive examination and impairment test of all types
of assets within the scope of the consolidated statements as at December 31, 2024.
Provision for credit impairment and asset impairment for related assets that may show
signs of impairment as at December 31, 2024.

2. The scope and total amount of the provision for credit impairment and asset
impairment

Following a comprehensive inventory and impairment test of assets within the scope of
the Company's consolidated statements as at 31 December 2024, such as accounts
receivable, notes receivable, other receivables, contract assets, inventory and contract
performance costs, fixed assets, construction in progress, etc., during the reporting
period, The Company's tota……
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