公告日期：2019-08-20

Short title:WaZhouB Code:200706 No.:2019-25



Wafangdian Bearing Company Limited



Notice of Change inAccounting Policy



The Company, all members of the Board of Directors, supervisors and top management hereby

guarantee the truth, accuracy and completeness of the information disclosure, no any false records,

misleading statements and major missing contents.



Wafangdian Bearing Co., LTD. (hereinafter referred to as "the company") adopted the proposal on

accounting policy changes at the 10th meeting of the seventh board of directors held on August 16,

2019, and the accounting policy changes need not be submitted to the general meeting of shareholders

for consideration.



The specific situation is as follows:



I.Overview of accounting policy changes



(I). Reasons for accounting policy changes



1. Revision of accounting standards: the Ministry of Finance issued the "Notice on the Issuance and

Revision of "

(Finance and Accounting [2019] No. 8) on May 9, 2019, issued the "Notice on the Issuance and

Revision of< Accounting Standards for Business Enterprises No. 12 - Debt Restructuring >(Finance

and Accounting [2019] No. 9) On May 16,2019, requires the implementation of all enterprises

implementing accounting standards for business enterprises.



2. Format adjustment of financial statements



On April 30, 2019, the Ministry of Finance issued the "Notice on Revising and Issuing the 2019

Annual General Enterprise Financial Statement Format (Financial accounting [2019] No. 6)", partially

adjusting the financial statement format on the basis of the original document [2018] No. 15.



(II) Date of change



According to the documents of Financial Accounting [2019]No.6,[2019]No.8, [2019]No.9,"Accounting

Standards for Business Enterprises No. 7 - Exchange of Non-monetary Assets" was implemented on

June 10, 2019……
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