公告日期：2025-04-29

Stock abbreviation: Wazhou B Stock code: 200706 No.: 2025-16

Wafangdian Bearing Co., LTD

Announcement of uncovered losses exceeding one third of
paid-in capital stock

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.

Wafangdian Bearing Co., LTD. (hereinafter referred to as the "Company") held the
sixteenth meeting of the ninth Board of Directors and the tenth meeting of the ninth
Board of Supervisors on April 25, 2025 to consider and pass the "Proposal on unmade
losses exceeding one-third of the total paid-in share capital", which needs to be
submitted to the 2024 annual general meeting of shareholders for deliberation. The
details are hereby announced as follows:

I. Basic information

According to the audit of Shu Lun Pan Certified Public Accountants (Special General
Partnership), the company's undistributed profit for the year 2024 ended December 31,
2024 was -766,382,732.49 yuan, accounting for -190.36% of the total capital stock of
402,600,000.00yuan. The undistributed profit in the parent company's report for 2024 is
-495,179,558.47yuan, accounting for -123.81% of the total capital stock of
402,600,000.00yuan. The company's unremedied losses exceed one third of the total
paid-in capital stock. According to the relevant provisions of the Company Law of the
People's Republic of China and the Articles of Association, the matter shall be submitted
to the general meeting of shareholders of the Company for deliberation.

II. Reasons for loss

1. In 2024, the total credit impairment losses and asset impairment losses incurred by
the company due to the provision for various impairment amounts to 49.87 million yuan,
an increase of 25.11 million yuan compared with the previous year.

2. Due to the dual factors of……
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