瓦轴B(200706):部分涉及关联交易的日常经营性债务重组的公告（英）
AnnouncementontheRestructuringofSomeDailyOperating DebtsInvolvingRelated-partyTransactions TheCompanyandallmembersoftheBODguaranteethattheinformationdisclosedistrue,accurate and completed, and that there are no false records, misleading statements ormaterialomissions. I.OverviewofDebtRestructuring 1.Debtrestructuringgains InordertoTooptimizethecompany'sdebtstructureandenhancetheefficiencyoffund utilization, Wafangdian Bearing Co., Ltd. (hereinafter referred to as "theCompany")hasconductedareviewofitsaccountspayablerelatedtoitsdailyoperatingactivitiesfortheperiodfromJanuarytoJune2026.Duringthisperiod,theCompanyenteredinto"DebtRestructuringAgreements"with264suppliers,includingWafangdianBearingPrecisionForgingCo.,Ltd.andGuanxianShundeBearingCo.,Ltd.;throughfriendlynegotiations,thesesuppliershaveagreedtomakeconcessionsregardingthedebtsowedbytheCompanyarisingfromitsdailyoperating activities. The aforementioned transactions have generated debtrestructuring gains of RMB 12,312,284.88 for the Company, of which RMB1,599,903.86representsgainsfromdebtrestructuringinvolvingaffiliatedparties.2.Lossesfromdebtrestructuring Debtrestructuringlossasconfirmedbybothparties The Company has entered into "Debt Restructuring Agreements" with fivecustomers,includingWafangdianBearingGroupWindPowerBearingCo.,Ltd.;throughfriendlynegotiations,theCompanyhasmadeconcessionsregardingthedebtsowedbysaidcustomerstotheCompanythatpertaintotheCompany'sdailyoperating activities. The aforementioned transactions resulted in a debtrestructuring loss of RMB 1,219,760.95 for the Company, of which RMB450,870.11constitutesarelated-partydebtrestructuringloss. 3.Aspartsuppliersandcustomers,includingWafangdianBearingGroupCo.,Ltd.andWafangdianBearingPrecisionForgingCo.,LTD.,arethelargestshareholderofourcompanyoritswholly-ownedsubsidiaries,thetransactionsinvolvingthispartconstituterelated-partytransactions. 4.Theproposalwasreviewedandunanimouslyapprovedatthe6thmeetingofthecametomattersrelatedtorelated-partytransactions,therelateddirectorsZhangXinghai, Chen Jiajun ,Wang Jiyuan and Li Dong abstained from voting. Theremaining8directorsvotedresult:7infavorofthematter,novotesagainstand1abstention. 5.Thismotiondoesnotneedtobesubmittedtothecompany'sshareholders'meeting for review and approval, nor does it constitute a major assetreorganization as defined in the "Administrative Measures for MajorReorganizationofListedCompanies". 6.Allthedebtrestructuringsinthisroundareofadailybusinessnature,andtherearenosignificantlegalobstaclesfortheimplementationbyallparties.II.BasicInformationofthecounterpartyinDebtRestructuring 1.Atotalof264suppliersand5customersareinvolvedinthisdebtrestructuring.Thedebtrestructuringreachedbetweenthecompanyandrelatedpartiesandthedebtrestructuringreachedwiththird-partysuppliersareindependentanddonotpreconditioneachother,anddonotconstituteapackagedeal. 2.Thecounterpartytothedebtrestructuringhasnootherrelationshipwiththecompany and thecompany's topten shareholdersin terms of property rights,business,assets,creditor'srightsanddebts,personnel,etc.,whichmayorhasalreadycausedthecompanytotiltitsintereststowardsitoritsintereststowardsthecompany.Thecompanyconductsalldebtrestructuringsinaccordancewiththeprinciplesoffairness,impartialityandequaltreatment. Thebasicinformationoftherelatedpartiesisasfollows: .WafangdianBearingGroupCorp.,Ltd. Legalrepresentative:MengWei Registeredcapital:519,869,400yuan Registered address: No. 1, Section 1, North Gongji Street, Wafangdian City,LiaoningProvince Typeofenterprise:LimitedLiabilityCompany Businessterm:FromDecember22,1995toDecember22,2045 Unifiedsocialcreditcode:91210200242386663D Businessscope:Importandexportofgoods,importandexportoftechnologies(forprojects subject to approval according to law, business activities can only becarriedoutafterapprovalbyrelevantdepartments,thespecificbusinessprojectsshall be subject to the approval results) General projects: Manufacturing ofbearings,gearsandtransmissionparts,salesofbearings,gearsandtransmissionequipment(excludinglicensedprofessionalequipmentmanufacturing),researchanddevelopmentofmachineryandequipment,salesofmachineryandequipment,manufacturingofnon-metallicmineralproducts,salesofnon-metallicmineralsandproducts,ferrousmetalcasting,non-ferrousmetalcasting,automotivepartsandaccessoriesmanufacturing,Autopartsretail,autopartswholesale,railwayrollingstock parts manufacturing, railway rolling stock parts sales, industrial designservices, general equipment repair, technical service, technical development,technical consultation, technical exchange, technology transfer, technologypromotion, metal materials sales, housing leasing, non-residential real estateleasing,machineryandequipmentleasing Latestauditedfinancialposition(2025):Thetotalassetswere8,249.91millionyuan, the net assets were 1,184.73 million yuan, the operating income was4,099.62millionyuan,andthenetprofitwas31.47millionyuan(asaudited).Theaboverelatedpartiesarenotthedishonestpersonssubjectedtoexecution.III.MainContentsoftheDebtRestructuringPlanandDebtRestructuringAgreement 1.Debtformationsituation Aftercalculationbythecompanywith264suppliers,thetotalamountofvariouspayments for goods and project funds that the company should pay to theabove-mentionedsuppliersamountsto248,046,494.68yuan. Afterthecompany'scalculationwith5customers,thebearingpaymentreceivablefromtheabove-mentionedcustomersofourcompanyis21,052,258.87yuan.2.Themaincontentsofthedebtrestructuringplan Aftercommunicationandnegotiationwiththecreditors,inaccordancewiththe"Debt Restructuring Agreements" signed by our company with 264 suppliersrespectively, based on the principle of mutual benefit and cooperation, thecreditors agreed to waive the creditor's rights for part of the payment. Theremainingpaymentwouldbepaidtothecreditorsbythecompanyintheformofcommercialpapersandbankdeposits.Afterthecreditorsreceivedthepayment,the creditor's rights and debts involving the contract details between the twopartieswouldbesettled.Therearenoothereconomicdisputes. From January to June 2026, the company completed debt restructuring withsuppliersfor248,046,494.68yuan,actuallypaid235,733,209.8yuanforgoods,andrealizeddebtrestructuringgainsof12,312,284.88yuan,amongwhichthegainsfromrelateddebtrestructuringwere1,599,903.86yuan. Aftercommunicationandnegotiationbetweenthedebtorandourcompany,in5 customers, based on the principle of mutual benefit and cooperation, ourcompanyagreestowaivethecreditor'srightsofpartofthebearingpayment.From January to June 2026, the company completed debt restructuring withcustomers for 21,052,258.87 yuan, actually received payment for goods for19,832,497.92yuan,andsufferedadebtrestructuringlossof1,219,760.95yuan,amongwhichthelossfromrelateddebtrestructuringwas450,870.11yuan.3.Thereisnosituationwherenon-cashassetsareusedtosettledebtsinthisdebtrestructuring. IV.Otherarrangementsfordebtrestructuring This debt restructuring does not involve subsequent arrangements such aspersonnelresettlement,landleasing,orcompetitioninthesameindustry.V.Reasons,PurposesofDebtRestructuringandItsImpactontheCompanyTheprimaryreasonfordebtrestructuringisthat,influencedbythebroadermarketenvironment,enterprisesmayexperiencerelativelytightliquidityintheshortterm;toalleviatethisfinancialpressureandacceleratecashrecovery,theenterprisemayreachanagreementwithitssuppliersandcustomers:whenmakingpaymentstosuppliers,acertainpercentageofdiscountshallbeapplied;conversely,whencollectingpaymentsfromcustomers,acorrespondingpercentageofdiscountshallbe granted. The determination of these relevant discount rates is based onnegotiationsbetweenbothparties,withinthelimitsthattheirrespectiveoperationscanafford. The company's subsequent payment arrangements are based, firstly, on theoutstandingbalancesduebysuppliersasofthesettlementdate,andsecondly,ontheactualamountoffundsrecoveredbythecompanyduringthecurrentperiod;these funds primarily represent the proceeds generated from the company'sexternalsalesofbearingproducts;thisconstitutesroutinefundpaymentactivityanddoesnotimpactthecompany'sdailyoperations. Byconductingdebtrestructuring,thecompanycanfurtherclarifyitscreditor-debtorrelationships,alleviateitsfundingpressures,reduceitsdebtburden,optimizeitsdebtstructure,andimproveitsfinancialposition,therebyfacilitatingthecompany'soperationaldevelopment. PursuanttotheEnterpriseAccountingStandardsandotherrelevantregulations,thenetgainfromthisdebtrestructuringofRMB11,092,523.93shallberecognizedasinvestmentincome. VI.ExplanationofSpecialOpinions (1)OpinionsoftheSpecialMeetingofIndependentDirectors Afterreview,webelievethatbycarryingoutdebtrestructuring,thecompanycanfurther sort out its creditor-debtor relationship, optimize its debt structure, andbusiness development and will not have a significant adverse impact on thecompany'sfinancialandbusinessconditions.Thereisnobehaviorthatharmstheinterestsofthecompanyanditsminorityshareholders,anditisinlinewiththeoverallinterestsofthecompany.Allindependentdirectorsagreetothismatterandagreetosubmittheabove-mentionedproposaltothecompany'sboardofdirectorsfordeliberation.When theboardof directors votes on the motion,the relateddirectorsshallrecusethemselvesinaccordancewiththeregulations.VII.Documentsforreference th 1.Resolutionofthe6 Meetingofthe10thBoardofDirectorsofWafangdianBearingCo.,LTD. 2.ResolutionoftheThirdspecialMeetingofIndependentDirectorsin20263.OverviewTableofRelatedPartyTransactionsofListedCompanies. 4.OtherdocumentsrequiredbytheShenzhenStockExchange. Herebynotify Boardofdirectorsof WafangdianbearingCompanylimited August24,2026 中财网
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