Full text of wafangdian Bearing Co., LTD. 2026 first quarter report
Stock Code: 000706 Notice No.: 2026-17 Short Form of the Stock: Wazhou B
Wafangdian Bearing Company Limited
The First Quarterly Report of 2026
The Company and whole members of the Board guarantee that the information disclosed is true, accurate and
complete and there are no fictitious records, misleading statements or material omissions carried in the Report.
Important Note:
referred to as the Company) and its directors, supervisors and senior executives should guarantee the reality,
accuracy and completion of the quarterly report, there are no any fictitious statements, misleading statements or
important omissions carried in this report, and shall take legal responsibilities, individual and/or joint.
officer) hereby confirm that the financial information of this Quarterly Report is authentic, accurate and complete.
□Yes √No
I. Main financial data
(i) Main accounting data and financial indexes
Whether it has retroactive adjustment or re-statement on previous accounting data or not
□Yes√ No
Changes of this period over
Current Period Same period of last year
same period of last year（%）
Operating income (yuan) 570,327,865.59 670,576,656.24 -14.95%
Net profit attributable to shareholders of
-957,220.77 -7,775,309.04 87.69%
the listed company (yuan)
Net profit excluding non-recurring gains
and losses attributable to shareholders of -6,972,276.08 -14,549,594.19 52.08%
the listed company (yuan)
Net cash flow from operating activities
(yuan)
Basic earnings per share (yuan/share) -0.0024 -0.0193 87.56%
Diluted earnings per share (yuan/share) -0.0024 -0.0193 87.56%
Weighted average return on equity -0.48% -3.02% 2.54%
Changes of this period-end
End of this period End of last period over same period-end of last
year (%)
Total assets (yuan) 2,752,217,280.76 2,787,274,723.39 -1.26%
Owners' equity attributable to
shareholders of the listed company (yuan)
Full text of wafangdian Bearing Co., LTD. 2026 first quarter report
(ii) Items of non-recurring gains and losses
√ Applicable □Not applicable
Unit: RMB/CNY
Item Current amount Note
Gains and losses from disposal of non-current assets (including the write-off portion of
the provision for asset impairment)
Government subsidies included in the current profit and loss (except for government
subsidies that are closely related to the company's normal business operations, comply
with national policies and regulations, enjoy according to established standards and
have a continuous impact on the company's profit and loss)
Except for the effective hedging operations related to the normal business operations
of the company, the gains and losses arising from the changes in the fair value of
-6,163.41
financial assets and financial liabilities held by non-financial enterprises, as well as the
gains and losses resulting from the disposal of financial assets and financial liabilities
Debt restructuring gains and losses 3,981,829.64
Other non-operating income and expenses not covered by the above items 366,099.08
amount to 6,015,055.31 --
Other specific information about profit and loss items that meet the definition of non-recurring profit and loss
□ Applicable ?Not applicable
The company does not have other specific information about profit and loss items that meet the definition of
non-recurring profit and loss.
A description of the situation in which the items of non-recurring gains and losses listed in Interpretative
Announcement No.1 on Information Disclosure of Publicly Issued Securities —— Non-recurring Gains and
Losses are defined as items of recurring gains and losses
□ Applicable ? Not applicable
The company does not define the items of non-recurring gains and losses listed in the Interpretative
Announcement No.1 on Information Disclosure of Publicly Issued Securities —— Non-recurring Gains and
Losses as items of recurring gains and losses.
(iii) Circumstances and reasons for changes in major accounting data and financial indicators
√ Applicable □Not applicable
Unit: RMB/CNY
Amount
ofsame Increase
period last and
Number Item End-of- increase or Explanation of change
year / decrease
period decrease
Initial ratio
amount
numbers
Mainly affected by the reduction in the portion of VAT
Other
income
to the same period
Credit Mainly due to the write-off of bad debts and credit
nt Loss accounts receivable and bills
Non- 1. Penalty income increased by 170,000 yuan compared to
income compared to the same period.
Non- 1. Non-current asset disposal losses decreased by 250,000
expenses decreased by 15,000 yuan compared to the same period, and
Full text of wafangdian Bearing Co., LTD. 2026 first quarter report
other expenses decreased by 45,000 yuan compared to the
same period.
Net cash
flow
generate
Operating inflows decreased by 56.15 million yuan year-on-
d from
year (mainly due to a decrease of 42.91 million yuan in cash
operating
received from selling goods and providing services);
Operating outflows decreased by 30.69 million yuan year-on-
Net cash
year (mainly due to a decrease of 30.43 million yuan in cash
flow
paid for purchasing goods and receiving services)
from
investing
activities
Investment cash inflows decreased by 1.05 million yuan
Net cash year-on-year (mainly due to a decrease of 1.05 million yuan
flow in the net cash received from the disposal of fixed assets,
financing outflows decreased by 180,000 yuan year-on-year (mainly
activities due to a decrease of 180,000 yuan in cash paid for the
construction of fixed assets)
Financing cash inflows decreased by 140.23 million yuan
year-on-year (mainly due to a decrease of 162 million yuan
Other in cash received from obtaining loans, and an increase of
es Financing cash outflows decreased by 259.89 million yuan
year-on-year (mainly due to a decrease of 17.542 million
yuan in cash paid for other financing-related expenses)
The reserve funds of the business division and regional
Notes headquarters increased by 1.74 million yuan compared to the
payable beginning of the year, and the guarantee funds increased by
Wages
payable
Mainly due to the accrual of bonuses and other expenses in
Other
income
year
II. Shareholder information
(i)The total number of ordinary shareholders, the number of preferred shareholders whose voting rights
have been restored and a statement of the holdings of the top 10 shareholders
Unit: share
Total preference shareholders with voting
Total number of common shareholders at the
end of report period
applicable)
Top ten shareholders(excluding shares lent through refinancing)
Amount Information of shares pledged,
Proportion of non- tagged or frozen
Nature of Amount of shares
Shareholder’s name of shares tradable
shareholder held
held shares State of share Amount
held
Wafangdian Bearing State-owned legal 244,000,
Group Corp., Ltd. person 000
Dalian Youth
other 19.70% 79,300,000 0 inapplicability 0.00
Development
Full text of wafangdian Bearing Co., LTD. 2026 first quarter report
Foundation
Overseas legal
Wang Xiao 0.19% 774,420 0 inapplicability 0.00
person
Domestic natural
Chen Peng 0.18% 738,100 0 inapplicability 0.00
person
Domestic natural
Jiang Guangsen 0.17% 700,000 0 inapplicability 0.00
person
Bocom International Foreign legal
Securities Co., LTD person
Foreign legal
Li Zhijun 0.14% 573,764 0 inapplicability 0.00
person
Domestic natural
Zhou Yan 0.12% 463,700 0 inapplicability 0.00
person
Foreign legal
Zhou Mei 0.11% 443,620 0 inapplicability 0.00
person
Domestic natural
Yang Yiguang 0.11% 437,811 0 inapplicability 0.00
person
Top ten shareholders with tradable shares held
Type of shares
Shareholder’s name Amount of listed shares held
Type Amount
Domestically listed
Dalian Youth Development Foundation 79,300,000 79,300,000
foreign shares
Domestically listed
Wafangdian Bearing Group Corp., Ltd. 54,524,555 54,524,555
foreign shares
Domestically listed
Wang Xiao 774,420 774,420
foreign shares
Domestically listed
Chen Peng 738,100 738,100
foreign shares
Domestically listed
Jiang Guangsen 700,000 700,000
foreign shares
Domestically listed
Bocom International Securities Co., LTD 575,068 575,068
foreign shares
Domestically listed
Li Zhijun 573,764 573,764
foreign shares
Domestically listed
Zhou Yan 463,700 463,700
foreign shares
Domestically listed
Zhou Mei 443,620 443,620
foreign shares
Domestically listed
Yang Yiguang 437,811 437,811
foreign shares
Among the top ten shareholders, there is no affiliation or
concerted action between the first majority shareholder and
other shareholders or the top ten outstanding shareholders;
Explanation on associated relationship among the aforesaid
Affiliation or concerted action among other shareholders,
shareholders
among the top ten outstanding shareholders, and between
the top ten outstanding shareholders and other
shareholders are not available.
Description of the top 10 shareholders' participation in
None
margin trading (if any)
Full text of wafangdian Bearing Co., LTD. 2026 first quarter report
Shareholders holding more than 5%, the top 10 shareholders and the top 10 shareholders of unlimited tradable
shares participate in the refinancing business to lend shares
□ Applicable √ Not applicable
The top 10 shareholders and the top 10 shareholders of unlimited outstanding shares have changed from the
previous period due to refinancing lending/restitution reasons
□ Applicable √ Not applicable
(ii) Total shareholders with preferred stock held and shares held by top ten shareholders with preferred
stock held
□ Applicable √ Not applicable
III. Other important matters
? Applicable □ Not applicable
In recent years, due to the impact of the global economic recession, economic restructuring, and other factors,
Wazhou B has suffered consecutive annual losses and its operating conditions have been deteriorating. Since
financial risks continue to increase. If this situation persists, it will inevitably intensify the company's operating
risks. Taking all factors into consideration, Wazhou Group, as the controlling shareholder of Wazhou B, intends
to initiate a general offer to all holders of unrestricted tradable shares for the purpose of terminating the listing
status of Wazhou B, so as to fully protect the interests of Wazhou B's shareholders and demonstrate the
responsibility of a state-owned enterprise.
On January 19, 2026, Wazhou Group disclosed the "Wafangdian Bearing Co., Ltd. Takeover Offer Report",
with the offer period from January 20, 2026, to February 27, 2026. The condition for the offer to become
effective is that, as of 15:00 on the last trading day of the effective period of this takeover offer, the number of
Wazhou B public shares temporarily deposited with the Shenzhen Branch of China Securities Depository and
Clearing Corporation Limited pursuant to accepted offers exceeds 39,050,000 shares, meaning that after the
acquisition, the number of Wazhou B public shares held by the public as a percentage of total share capital falls
below 10%. According to the listing rules of the Shenzhen Stock Exchange, Wazhou B would no longer meet
the listing requirements, and thus the offer would become effective.
As of February 27, 2026, there were 1,459 shareholders who accepted the offer for Wazhou B, with a total of
"Wafangdian Bearing Co., Ltd. Takeover Offer Report", the offer has become effective.
The number of shares held by the public as a percentage of the company's total share capital is below 10%. In
accordance with the Securities Law, the Shenzhen Stock Exchange Listing Rules, and other relevant regulations,
the company's share distribution no longer meets the listing requirements. The company will follow the relevant
procedures to delist its shares and issue corresponding announcements.
Full text of wafangdian Bearing Co., LTD. 2026 first quarter report
IV. Quarterly financial statements
(i) Financial statement
Prepared by Wafangdian Bearing Company Limited
Unit: RMB/CNY
Project Ending balance Beginning balances
Current assets
Monetary funds 68,264,993.90 65,287,519.84
Settle the reserve fund
Set aside funds
Trading financial assets 240,372.81 246,536.22
Derivative financial assets
Notes receivable 511,948,312.44 500,110,673.70
Accounts receivable 900,445,188.18 872,114,645.31
Financing of receivables 85,734,336.52 64,928,833.08
Advance payment 8,727,482.68 9,287,712.68
Premium receivable
Reinsured accounts receivable
Reserves receivable from reinsurance contracts
Other receivables 16,900,535.50 10,631,908.31
Among them: Interest receivable
Dividends receivable
Purchase resale financial assets
Inventory 574,434,526.76 636,325,993.85
Among them: Data resources
Contract assets 5,258,761.24 5,258,761.24
Hold assets for sale
Non-current assets due within one year
Other current assets 23,411,576.89 50,298,808.19
Total current assets 2,195,366,086.92 2,214,491,392.42
Non-current assets
Issue loans and advances
Debt investment
Other debt investments
Long-term receivables
Long-term equity investment
Investments in other equity instruments 8,705,393.14 8,705,393.14
Other non-current financial assets
Investment real estate 72,530,927.17 73,919,295.42
Fixed assets 391,728,799.03 406,111,493.56
Construction in progress 11,393,541.06 10,513,430.99
Productive biological assets
Oil and gas assets
Right-of-use assets
Intangible assets 65,429,209.57 66,301,236.59
Among them: Data resources
Development expenditure
Among them: Data resources
Goodwill
Long-term deferred expenses 6,780,423.87 6,949,581.27
Deferred income tax assets
Other non-current assets 282,900.00 282,900.00
Total non-current assets 556,851,193.84 572,783,330.97
Total assets 2,752,217,280.76 2,787,274,723.39
Current liabilities
Full text of wafangdian Bearing Co., LTD. 2026 first quarter report
Short-term borrowing 82,053,118.00
Borrow from the central bank
Withdraw funds
Transactional financial liabilities
Derivative financial liabilities
Notes payable 50,800,397.50 370,597.50
Accounts payable 1,255,754,881.83 1,261,731,806.69
Advance receipt
Contract liability 23,825,411.28 31,776,246.33
Funds for selling and repurchasing financial assets
Deposit absorption and interbank placement
Act as an agent for the trading of securities
Act as an agent for underwriting securities funds
Employee compensation payable 25,183,580.66 49,061,641.96
Taxes payable 5,152,819.21 8,932,707.47
Other payables 670,885,988.38 587,079,378.98
Among them: Interest payable
Dividends payable
Payable handling fees and commissions
Reinsured accounts payable
Hold liabilities for sale
Non-current liabilities due within one year
Other current liabilities 423,924,311.95 469,016,692.21
Total current liabilities 2,455,527,390.81 2,490,022,189.14
Non-current liabilities
Insurance contract reserve
Long-term borrowing
Bonds payable
Among them: Preferred stock
Perpetual bond
Lease liability
Long-term payables 344,974.84 344,974.84
Long-term employee compensation payable
Estimated liabilities 62,972,958.86 62,247,622.41
Deferred income 33,864,694.47 34,847,189.82
Deferred income tax liability 788,788.84 788,788.84
Other non-current liabilities
Total non-current liabilities 97,971,417.01 98,228,575.91
Total liabilities 2,553,498,807.82 2,588,250,765.05
Owner's equity
Equity capital 402,600,000.00 402,600,000.00
Other equity instruments
Among them: Preferred stock
Perpetual bond
Capital reserve 485,691,050.47 485,691,050.47
Reduce: Inventory stocks
Other comprehensive income -3,201,535.21 -3,201,535.21
Special reserve 2,291,586.34 1,639,850.97
Surplus reserve 136,770,391.01 136,770,391.01
General risk preparedness
Undistributed profit -825,433,019.67 -824,475,798.90
Total owner's equity attributable to the parent company 198,718,472.94 199,023,958.34
Minority shareholders' equity
Total owner's equity 198,718,472.94 199,023,958.34
Total liabilities and owner's equity 2,752,217,280.76 2,787,274,723.39
Legal Representative: Wang Jiyuan Person in charge of accounting works: Sun Najuan Person in charge of accounting institute: Xuan Songtao
Full text of wafangdian Bearing Co., LTD. 2026 first quarter report
Unit: RMB/CNY
Current period occurrence
item Prior-period amount
amount
I. Total operating Revenue 570,327,865.59 670,576,656.24
Among them: Operating income 570,327,865.59 670,576,656.24
Interest income
Earned premiums
Fee and commission income
Ii. Total Operating Cost 578,620,784.00 688,835,994.70
Among them: Operating costs 492,686,747.02 602,753,886.40
Interest expense
Handling fee and commission expenses
Surrender payment
Net compensation expenses
Extract the net amount of insurance liability reserves
Policy dividend expenditure
Reinsurance fee
Taxes and surcharges 2,589,956.99 5,389,982.47
Sales expenses 30,479,062.34 29,639,562.51
Administrative expenses 31,194,852.67 28,330,100.37
Research and development expenses 17,484,516.92 17,941,234.44
Financial expenses 4,185,648.06 4,781,228.51
Among them: Interest expense
Interest income
Add: Other income 1,740,623.61 3,983,024.89
Investment income (losses are indicated by a "-" sign) 4,985,357.95 6,120,034.62
Among them: Investment income from associated enterprises
and joint ventures
The gains of financial assets measured at amortized cost are
derecognized
Exchange gains (losses are indicated by a "-" sign)
Net exposure hedging gain (losses are indicated by a "-" sign)
Gains from changes in fair value (losses are indicated by a "-"
-6,163.41
sign)
Credit impairment loss (losses are indicated by a "-" sign) 158,158.15 266,214.00
Impairment loss of assets (losses are indicated by a "-" sign)
Gains from asset disposal (losses are indicated by a "-" sign) 91,622.26 307,669.51
Iii. Operating Profit (Losses are indicated by a "-" sign) -1,323,319.85 -7,582,395.44
Add: non-operating income 382,655.35 131,622.66
Decrease: Non-operating expenses 16,556.27 324,536.26
Iv. Total Profit (Total loss is indicated by a "-" sign) -957,220.77 -7,775,309.04
Reduction: Income tax expense
V. Net Profit (Net loss is indicated by a "-" sign) -957,220.77 -7,775,309.04
(1) Classification by business continuity
-957,220.77 -7,775,309.04
by a "-" sign)
indicated by a "-" sign)
(2) Classification by ownership
Vi. Net after-tax amount of other comprehensive income
The net after-tax amount of other comprehensive income
attributable to the owners of the parent company
(1) Other comprehensive income that cannot be reclassified
Full text of wafangdian Bearing Co., LTD. 2026 first quarter report
into profit or loss
profit or loss under the equity method
investments
(2) Other comprehensive income that is reclassified into
profit or loss
profit or loss under the equity method
other comprehensive income
statements
The net after-tax amount of other comprehensive income
attributable to minority shareholders
Vii. Total Comprehensive Income -957,220.77 -7,775,309.04
The total comprehensive income attributable to the owners of
-957,220.77 -7,775,309.04
the parent company
The total comprehensive income attributable to minority
shareholders
Viii. Earnings per Share:
(1) Basic earnings per share -0.0024 -0.0193
(II) Diluting earnings per share -0.0024 -0.0193
Legal Representative:Wang Jiyuan Person in charge of accounting works: Sun Najuan Person in charge of accounting institute: Xuan Songtao
Current period occurrence Prior-period
Item
amount amount
I. Cash flows generated from operating activities:
Cash received from the sale of goods and the provision of
services
Net increase in customer deposits and interbank deposits
The net increase in borrowing from the central bank
The net increase in funds borrowed from other financial
institutions
Cash received from the premiums of the original insurance
contract
Received net cash from reinsurance business
Net increase in policyholders' savings and investment funds
Cash for receiving interest, handling fees and commissions
Net increase in borrowed funds
Net increase in funds from the repurchase business
Net cash received from agency trading of securities
Tax and fee refunds received 1,967,533.59 8,110,763.01
Receive other cash related to business operations 5,998,912.23 13,094,062.54
Small amount of cash inflow from operating activities 191,955,728.25 248,107,427.43
Cash paid for purchasing goods and accepting services 37,586,381.30 68,023,957.93
Full text of wafangdian Bearing Co., LTD. 2026 first quarter report
Net increase in customer loans and advances
The net increase in deposits with the central bank and interbank
funds
Cash for paying the compensation of the original insurance
contract
Net increase in funds split out
Cash for paying interest, handling fees and commissions
Cash for paying policy dividends
Cash paid to and on behalf of employees 110,550,629.87 110,887,416.76
All taxes and fees paid 10,895,327.55 23,473,285.35
Pay other cash related to business operations 31,339,153.37 18,677,410.47
Small amount of cash outflow from operating activities 190,371,492.09 221,062,070.51
Net cash flows generated from operating activities 1,584,236.16 27,045,356.92
Ii. Cash Flows generated from Investment Activities:
Recover the cash received from the investment
Cash received for obtaining investment income 1,003,528.31 1,000,000.00
Net cash recovered from the disposal of fixed assets, intangible
assets and other long-term assets
Dispose of the net cash received by subsidiaries and other
business units
Receive other cash related to investment activities
Small amount of cash inflow from investment activities 1,003,528.31 2,049,200.00
Cash paid for the purchase and construction of fixed assets,
intangible assets and other long-term assets
Cash paid for investment
Net increase in pledged loans
Obtain the net cash paid by subsidiaries and other business units
Pay other cash related to investment activities
A small amount of cash outflow from investing activities 181,046.91
Net cash flows generated from investment activities 1,003,528.31 1,868,153.09
Iii. Cash Flows generated from financing activities:
Absorb the cash received from investments
Among them: The cash received by the subsidiary from
absorbing the investment of minority shareholders
Obtain the cash received from the loan 162,000,000.00
Receive other cash related to fundraising activities 83,501,517.61 61,731,015.56
Small amount of cash inflows from financing activities 83,501,517.61 223,731,015.56
Cash paid for repaying debts 82,000,000.00 162,000,000.00
Cash for distributing dividends, profits or paying interest 106,235.56 4,573,640.17
Among them: dividends and profits paid by subsidiaries to
minority shareholders
Pay other cash related to financing activities 175,424,299.91
A small amount of cash outflow from financing activities 82,106,235.56 341,997,940.08
Net cash flows generated from financing activities 1,395,282.05 -118,266,924.52
Iv. The Impact of Exchange Rate Fluctuations on Cash and Cash
-3,708.35 377,237.90
Equivalents
V. Net increase in cash and cash equivalents 3,979,338.17 -88,976,176.61
Add: Balance of cash and cash equivalents at the beginning of
the period
Vi. Balance of cash and cash equivalents at the end of the period 67,894,798.91 71,931,121.63
Unit: RMB/CNY
(ii)The first implementation of the new accounting standards from 2026 to adjust the first
implementation of the financial statements at the beginning of the year related items
□ Applicable √ Not applicable
Full text of wafangdian Bearing Co., LTD. 2026 first quarter report
(iii) Audit report
Whether the 1st quarterly report has been audited or not
□Yes √ No
The 1st quarterly report of the Company has not been audited.
Board of Directors of
Wafangdian Bearing Company Limited
首页
微信公众号
证券之星APP
