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公司公告

瓦轴B:关于出售房产的公告(英文版)2018-09-18  

						Stock:WazhouB                                   Code:200706                                No.::2018-28



                             Wafangdian Bearing Company Limited
                                 Announcement of Property sale

       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 first interim
board meeting of 2018 on September 17, 2018, deliberated and passed the "bill on the sale of real
estate". In order to clean up and revitalize the company's assets, the company intends to dispose
of the houses located in self-defense street, zhongshan district, dalian city.

I.Summary of transactions:
Our company is located in no.26, self defense street, zhongshan district, dalian city. Due to historical
reasons, no property ownership procedures have been completed. This time, we entrust the bearing group
co., ltd. to package the above properties owned by the company for evaluation when it processes several
properties owned by the company. After the asset evaluation, the company intends to make a public sale.
5 properties will be sold through public sale. 4 of them have reached preliminary agreement with
non-associated natural persons, which does not constitute related transaction. As for the remaining one
property to be sold to the public, it is not yet known whether it constitutes a related transaction. If the
related transaction constitutes a related transaction and related approval and disclosure matters are
touched, the company will perform related procedures again and make information disclosure. The sale
price of the five properties sold by the company shall not be lower than the assessed value, and the price
approved by the market shall prevail. In addition, the company will strictly follow the relevant laws,
regulations and procedures for the transaction process, pricing principle, and the decision of selling to a
third party for the disposal of the five properties.
According to article 9.3 (5) of stock listing rules of shenzhen stock exchange, the profits generated from
trading account for more than 50% of the audited net profits of a listed company in the latest fiscal year,
and the absolute amount is more than 5 million yuan, which shall be submitted to the shareholders' meeting
for deliberation. The audited net profit of the company in 2017 is 10.18 million yuan. According to the
preliminary calculation, the involved amount does not touch the disclosure standard, so it is unnecessary to
submit to the shareholders' meeting for review.
According to the appraisal situation, the transaction to be sold does not constitute the material assets
reorganization as stipulated in the measures for the management of material assets reorganization of listed
companies. The company will fulfill the corresponding approval procedures and disclosure obligations in a



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 Stock:WazhouB                                    Code:200706                              No.::2018-28



 timely manner according to the actual progress of the sale of the asset subject matter in strict accordance
 with the stock listing rules, the articles of association and other relevant provisions.

 II.Basic information of the buyer

 Status of the purchaser who have reached a preliminary agreement

 1)Name: Liu Shurong

 Adress:Jin Luan Road Number 75 1-4-3 of Wangfangdian City Liaoning Province
 Not the dishonest person subjected to execution

 2)Name: Feng Zezhong

 Adress:WU YI Road Number 897 5-2-2 of Wangfangdian City Liaoning Province
 Not the dishonest person subjected to execution

 2. Counterparties to another property being offered for public sale are still uncertain

 III. Basic information of object

 Details of the property to be disposed are as follows

                                        Original
       Name                ㎡                           Net value        Assessment            Attention
                                         value
Dalian City Zhong                                                                          Have been reach
Shan area ZIwei          46.48        106,541.63        27,557.15         357,900.00         agreement
street No 26 2-5
 Dalian City Zhong                                                                      Have   been        reach
 Shan area ZIwei         59.31        135,950.60        35,163.82         456,687.00    agreement
  street No 26 2-6
 Dalian City Zhong                                                                      Have   been        reach
  Shan area ZIwei        55.03        126,139.97        32,626.29         423,731.00    agreement
   street No 26 2-7
 Dalian City Zhong                                                                      Have   been        reach
  Shan area ZIwei        65.77        150,758.24        38,993.84         506,429.00    agreement
   street No 26 2-8
 Dalian City Zhong                                                                           Sale on public
  Shan area ZIwei        150.00       343,830.56        84,020.41        2,846,850.00
     street No 26
       Total             376.59       863,221.00       218,361.51        4,591,597.00

 The ownership of the assets mentioned above is clear. There is no right of mortgage, pledge or other third
 party. There is no major dispute, lawsuit or arbitration concerning the assets.



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Stock:WazhouB                                    Code:200706                                   No.::2018-28



IV.The main contents of the transaction agreement

The main contents of the transaction agreement have been preliminarily concluded

Both parties:
Seller (hereinafter referred to as party a) :
 wafangdian bearing co., LTD
Buyer (hereinafter referred to as party b) :
liu shurong (residence 2-6, 2-7, 2-8, no. 26, self-defense street, zhongshan district, dalian)
Feng zezhong (2-5 residence, no. 26, self-defense street, zhongshan district, dalian)

1.Transfer price and payment

1)Transfer price: according to the public bidding result, party a transfers the price of the subject matter
hereunder to party b. The total amount received is calculated and collected based on the registered area in
the use certificate issued.
2)Payment method: check or wire transfer.

2. Delivery date
Party a shall, within 10 days upon receipt of the full price of the house and completion of the contract
signing, deliver the key of the house and the materials provided by party a to party b.

3.Agreement on registration of property rights
The house is transferred as the current situation, and the housing price obtained by party a is net. Upon
party b's actual receipt of the premises, party a shall provide party b with the keys, existing relevant
procedures and materials, etc. Party b shall bear all legal responsibilities and all costs arising from the
subsequent property transfer procedures and other procedures. Party a shall assist party b to handle the
formalities, but shall not bear the responsibilities related to the transfer and other procedures. At the same
time, party b shall not require party a to return the house payment on the ground that it is unable to handle
relevant procedures and complete the transfer.

V.Other arrangement        involving the sale of assets
The asset sale does not involve personnel resettlement, land leasing, related transactions, inter-bank
competition and other follow-up arrangements.

VI.The purpose of the acquisition of assets and their impact on the company
The purpose of the proposed asset sale is to clean up and revitalize the company's assets. The assets to
be sold will be publicly traded and the transaction price and earnings cannot be accurately calculated at
present. It is estimated that about 4 million yuan will be sold. All of the current profit and loss will be


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Stock:WazhouB                                     Code:200706                                   No.::2018-28



affected, and the specific amount will not be confirmed until the payment is received and related expenses
are deducted.The purpose of the proposed asset sale is to clean up and revitalize the company's assets.
The assets to be sold will be publicly traded and the transaction price and earnings cannot be accurately
calculated at present. It is estimated that about 4 million yuan will be sold. All of the current profit and loss
will be affected, and the specific amount will not be confirmed until the payment is received and related
expenses are deducted.

VII.The documents for future reference
1. The announcement of Resolution of the 2018 1st Board Session
2. The opinion of independent director.
3. The first interim board of supervisors meeting of wafangdian bearing co., LTD in 2018.




                                                           Board of director of Wafangdian bearing
                                                                     Company limited
                                                                     Sept 17. 2018




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