公告日期：2024-04-30

Stock abbreviation: Wazhou B Stock code: 200706 No.: 2024-07

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 ninth
meeting of the ninth Board of Directors and the seventh meeting of the ninth Board of
Supervisors on April 26, 2024 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
2023 annual general meeting of shareholders for consideration. 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 2023 ended December 31,
2023 was -656,170,250.968Yuan, accounting for-162.98%of the total capital stock of
402,600,000.00 yuan. The undistributed profit in the parent company's report for 2023 is
-421,976,934.76 Yuan, accounting for-104.81% of the total capital stock of
402,600,000.00 yuan. The company's uncovered 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 2023, the company continued to strengthen production and operation management,
improve the quality of inventory assets, and reduce the reserve for inventory price
decline year-on-year, thereby reducing losses accordingly.

2. Affected by the double factors such as the ……
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