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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