公告日期：2024-04-30

Stock abbreviation: Wazhou B Stock code: 200706 No.: 2024-06
Wafangdian Bearing Co., Ltd.

Announcement on the provision for credit Impairment and asset
Impairment in 2023

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.

I. Overview of the provision for asset impairment

Wafangdian Bearing Co., LTD. (hereinafter referred to as the "Company") deliberated and passed
the "Motion on the Provision of Credit Impairment Reserves and Asset Impairment Reserves in
2023" at the ninth meeting of the ninth Board of Directors and the seventh meeting of the ninth
Board of Supervisors held on April 26, 2024. The details are hereby announced as follows:

1. Reasons for the provision of credit impairment reserve and asset impairment reserve

In accordance with the relevant provisions of the Accounting Standards for Business Enterprises
and the Company's accounting policies, in order to truly and accurately reflect the Company's asset
position and financial position as at December 31, 2023, the Company conducted a comprehensive
examination and impairment test of all types of assets within the scope of the consolidated
statements as at December 31, 2023. Provision for credit impairment and asset impairment for
related assets that may show signs of impairment as at December 31, 2023.

2. The scope and total amount of the provision for credit impairment and asset impairment
Following a comprehensive inventory and impairment test of assets within the scope of the
Company's consolidated statements as at 31 December 2023, such as accounts receivable, notes
receivable, other receivables, contract assets, inventory and contract performance costs, fixed
assets, construction in progress, etc., during the reporting period, The Company's total cre……
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