公告日期:2019-08-20
Stock:WazhouB Code:200706 No.:2019-23
Wafangdian Bearing Company Limited
Announcement of asset sales related to related transactions
Our company, the whole members of the board of directors and top managements ensured the truth,
accuracy, completeness, no false record, misleading statement and fatal omit of the announcement.
Wafangdian Bearing Co., LTD. (hereinafter referred to as "the company")held the tenth
meeting of the seventh board of directors on August 16, 2019, deliberated and adopted the asset
sale proposal concerning some related transactions, and hereby announces the above matters as
follows:
I. Summary of transactions:
The company is a wholly owned subsidiary - "Wazhou Precision Spherical Roller Bearings, Wafangdian) Co.,
LTD." (hereinafter referred to as the "Spherical Company") for product structure adjustment, since 2014 to
now, gradually eliminate a backlog of a total of 158 sets of unserviceable and waste equipment, this batch of
equipment idle for a long time, over the years the company has been actively looking for buyers, intends to
dispose of this batch of equipment, but for this batch of equipment have serious aging, not adapt to the rapid
transformation and the fierce market competition, spherical company has been unable to market effective
disposition of this batch of old equipment. Every year, the Spherical Company needs to invest a certain amount
of manpower and material resources to maintain , and occupy a large space, which causes a great negative
impact on the operation of the spherical company.In order to activate the assets and improve the operation
quality, most of them cannot be reused after on-site appraisal by the members of the company's evaluation
team. Based on the interests of all parties, sphere company, approved by the board of directors, disposed 3 sets
of equipment with certain utilization value to waf……
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