Wafangdian Bearing Company Limited
2026 Midyear Report Abstract
1. Important Notes
This summary of the semi-annual report is based on the full text of the semi-annual report. To gain a comprehensive understanding of the company's operating results, financial status and future development plans, investors are advised to carefully read the full text of the semiannual report on the designated media of the China Securities Regulatory Commission.
All directors attended the Board meeting and discussed the report.
Reminder of the qualified auditor’s opinions
Inapplicable
Preplan of Profit Distribution for Common Stock or Preplan for Capitalization of the Reserves in the Reporting Period Reviewed by the Board Meeting
Inapplicable
The company does not plan to distribute cash dividends, does not send bonus shares, and does not convert the capital reserves into share capital.
The board of directors has approved the preferred stock profit distribution plan for this reporting period Inapplicable
2. Brief Information of the listed company
(i) Brief Information of the company
| Stock abbreviation | Wazhou B | stock code | 200706 | |
| Stock listing exchange | Shenzhen Stock Exchange | |||
| Contact person and contact information | Secretary of the Board | Representative of StockA ffairs | ||
| Name | Sun Najuan | Ke Xin | ||
| Office Address | No. 1 Beigongji Street, Wafangdian City, Liaoning Province, China. | No. 1 Beigongji Street, Wafangdian City, Liaoning Province, China. | ||
| Telephone | 0411-62198008 | 0411-62198236 | ||
| E-mail address | zwz2308@126.com | zwz2308@126.com | ||
(ii).Main accounting date
Whether the company needs to retroactively adjust or restate the accounting data of previous years
Yes No
The reason of adjust or restate the accounting
accounting policy alternative
In RMB Yuan
| This reporting period | the same period of last year | This report period is an increase or decrease over the same period last year | ||
| Operating income (yuan) | 1,184,970,752.18 | 1,330,615,217.48 | -10.95% | 1,184,970,752.18 |
| Net profit attributable to shareholders of the listed company (yuan) | 7,324,544.44 | -20,930,911.54 | 134.99% | 7,324,544.44 |
| Net profit attributable to shareholders of the listedcompany after deducting non-recurring gains and losses (yuan) | -8,225,520.72 | -31,677,626.31 | 74.03% | -8,225,520.72 |
| Net cash flows from operating activities (yuan) | 44,857,385.39 | 239,656,451.73 | -81.28% | 44,857,385.39 |
| Basic earnings per share (yuan/share) | 0.0182 | -0.0520 | 135.00% | 0.0182 |
| Diluted earnings per share (yuan/share) | 0.0182 | -0.0520 | 135.00% | 0.0182 |
| Weighted average return on net assets | 3.60% | -8.35% | 11.95% | 3.60% |
| End of the reporting period | End of the previous year | The increase or decrease at the end of this reporting period compared with the end of the previous year | ||
| Total assets (yuan) | 2,812,706,446.27 | 2,787,274,723.39 | 0.91% | 2,812,706,446.27 |
| Net assets attributable to shareholders of the listed company (yuan) | 208,292,211.07 | 199,023,958.34 | 4.66% | 208,292,211.07 |
3. Number of Company Shareholders and Shareholding Situation
Unit:Stock
| Total common shareholders in the reporting period | 2,774 | Total preference shareholders with the voting covered at the end of the reporting period | 0 | |||
| Top 10 shareholders' holdings (excluding shares loaned through refinancing) | ||||||
| Shareholder names | Nature of the shareholders | shareholding ratio | Number of holdings at the end of reporting period | The number of non-tradable shares held | pledged, marked, or frozen status | |
| Status of shares | Quantity | |||||
| Wafangdian Bearing Group Corp., Ltd. | State-owned legal person | 74.15% | 298,524,555 | 244,000,000 | Inapplicable | 0 |
| Dalian Youth Development Foundation | other | 19.70% | 79,300,000 | 0 | Inapplicable | 0 |
| Wang Xiao | Domestic natural person | 0.19% | 774,420 | 0 | Inapplicable | 0 |
| Chen Peng | Domestic natural person | 0.18% | 738,100 | 0 | Inapplicable | 0 |
| Jiang Guangsen | Domestic natural person | 0.17% | 700,000 | 0 | Inapplicable | 0 |
| Bocom International Securities Co., LTD | Foreign legal person | 0.14% | 575,068 | 0 | Inapplicable | 0 |
| Li Zhijun | Domestic natural person | 0.14% | 573,764 | 0 | Inapplicable | 0 |
| Zhou Yan | Domestic natural person | 0.12% | 463,700 | 0 | Inapplicable | 0 |
| Zhou Mei | Domestic natural person | 0.11% | 443,620 | 0 | Inapplicable | 0 |
| Yang Yiguang | Domestic natural person | 0.11% | 437,811 | 0 | Inapplicable | 0 |
| About the fact that a strategic investor or ordinary corporate became one of the top ten shareholders due to placement of new shares (if any) (Refer to Note 3) | Among the top ten shareholders of the Company, there is no association or concerted action between the largest shareholder and other shareholders, or among the top ten shareholders of tradable shares, and the association and concerted action between other shareholders, among the top ten shareholders of tradable shares, and among the top ten shareholders of tradable shares and other shareholders are unknown. | |||||
| Explanation on associated relationship or consistent action of the above shareholders | None | |||||
Shareholding of shareholders holding more than 5% of the shares, the top 10 shareholders and the top 10 shareholders with unrestricted tradable shares participating in the margin lending business in terms of the situation of lending shares □ Applicable Not applicable
The top 10 shareholders and the top 10 unrestricted tradable shareholders have changed due to reasons related to margin lending and repayment compared with the previous period □ Applicable Not applicable 4. Changes in the controlling shareholder or the actual controller The controlling shareholder changed during the reporting period □ Applicable Not applicable
The controlling shareholder of the company did not change during the reporting period. The actual controller changed during the reporting period □ Applicable Not applicable The actual controller of the company did not change during the reporting period.
4. Changes in the controlling shareholder or the actual controller The controlling shareholder changed during the reporting period □Applicable Not applicable The controlling shareholder of the company did not change during the reporting period. The actual controller changed during the reporting period □Applicable Not applicable The actual controller of the company did not change during the reporting period.
5. Total number of preferred shareholders and the holding situation of the top 10 preferred shareholders in the report period □ Applicable Not applicable
□ Applicable Not applicable
3.Important event
In recent years, due to the impact of the global economic recession and economic restructuring, Wazhou B has suffered consecutive losses and its operating conditions have deteriorated continuously. Since 2025, due to the combined effect of multiple adverse factors, the company's operations have been further restricted and the future financial risks of the company have continued to increase. In the long run, this will inevitably lead to an intensification of the company's operational risks. Considering all the factors, Wazhou Group, as the controlling shareholder of Wazhou B, intends to launch a comprehensive tender offer to all unrestricted shareholders of Wazhou B with the aim of terminating Wazhou B's listing status, starting from the comprehensive protection of the shareholders' interests of Wazhou B and demonstrating the responsibility of state-owned enterprises.
On January 19, 2026, Wazhou Group disclosed the "Tender Offer Report of Wafangdian Bearing Co., Ltd.", and the tender offer period was from January 20, 2026 to February 27, 2026. The effective condition of the tender offer was that on the last trading day of the validity period of the tender offer at 15:00, the total number of Wazhou B's public shares pre-registered for the tender offer held by the China Securities Depository and Clearing Corporation Limited in Shenzhen exceeded 39,050,000 shares, that is, the proportion of Wazhou B's public shares after the acquisition in the total share capital was lower than 10%. According to the provisions of the Shenzhen Stock Exchange "Listing Rules", Wazhou B will no longer have the listing conditions, and the tender offer will take effect.
As of February 27, 2026, the shareholders who pre-registered for the tender offer of Wazhou B were 1,459 households, and the total number of unrestricted shareholder public shares pre-registered for the tender offer was 54,524,555 shares. According to the effective conditions stipulated in the "Tender Offer Report of Wafangdian Bearing Co., Ltd.", this tender offer will take effect.
When the proportion of public shares held by the public is lower than 10% of the company's total shares, according to the provisions of the "Securities Law" and the "Stock Listing Rules of the Shenzhen Stock Exchange" and other relevant regulations, the company's share distribution no longer meets the listing conditions. The company will follow the relevant regulations to carry out the procedures for the termination of its stock listing and issue a corresponding announcement.
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