Stock abbreviation: Wazhou B Stock code: 200706 No.: 2026-29
Wafangdian Bearing Co., Ltd.
Announcement on the Restructuring of Some Daily Operating
Debts Involving Related-party Transactions
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 Debt Restructuring
In order to To optimize the company's debt structure and enhance the efficiency of
fund utilization, Wafangdian Bearing Co., Ltd. (hereinafter referred to as "the
Company") has conducted a review of its accounts payable related to its daily
operating activities for the period from January to June 2026. During this period,
the Company entered into "Debt Restructuring Agreements" with 264 suppliers,
including Wafangdian Bearing Precision Forging Co., Ltd. and Guanxian Shunde
Bearing Co., Ltd.; through friendly negotiations, these suppliers have agreed to
make concessions regarding the debts owed by the Company arising from its daily
operating activities. The aforementioned transactions have generated debt
restructuring gains of RMB 12,312,284.88 for the Company, of which RMB
Debt restructuring loss as confirmed by both parties
The Company has entered into "Debt Restructuring Agreements" with five
customers, including Wafangdian Bearing Group Wind Power Bearing Co., Ltd.;
through friendly negotiations, the Company has made concessions regarding the
debts owed by said customers to the Company that pertain to the Company's daily
operating activities. The aforementioned transactions resulted in a debt
restructuring loss of RMB 1,219,760.95 for the Company, of which RMB
and Wafangdian Bearing Precision Forging Co., LTD., are the largest shareholder
of our company or its wholly-owned subsidiaries, the transactions involving this
part constitute related-party transactions.
tenth board of directors of the company. During the deliberation, it involved When it
Stock abbreviation: Wazhou B Stock code: 200706 No.: 2026-29
came to matters related to related-party transactions, the related directors Zhang
Xinghai, Chen Jiajun ,Wang Jiyuan and Li Dong abstained from voting. The
remaining 8 directors voted result: 7 in favor of the matter, no votes against and 1
abstention.
meeting for review and approval, nor does it constitute a major asset
reorganization as defined in the "Administrative Measures for Major
Reorganization of Listed Companies".
are no significant legal obstacles for the implementation by all parties.
II. Basic Information of the counterparty in Debt Restructuring
The debt restructuring reached between the company and related parties and the
debt restructuring reached with third-party suppliers are independent and do not
precondition each other, and do not constitute a package deal.
company and the company's top ten shareholders in terms of property rights,
business, assets, creditor's rights and debts, personnel, etc., which may or has
already caused the company to tilt its interests towards it or its interests towards
the company. The company conducts all debt restructurings in accordance with the
principles of fairness, impartiality and equal treatment.
The basic information of the related parties is as follows:
.Wafangdian Bearing Group Corp., Ltd.
Legal representative: Meng Wei
Registered capital: 519,869,400 yuan
Registered address: No. 1, Section 1, North Gongji Street, Wafangdian City,
Liaoning Province
Type of enterprise: Limited Liability Company
Business term: From December 22, 1995 to December 22, 2045
Unified social credit code: 91210200242386663D
Business scope: Import and export of goods, import and export of technologies (for
projects subject to approval according to law, business activities can only be
carried out after approval by relevant departments, the specific business projects
shall be subject to the approval results) General projects: Manufacturing of
bearings, gears and transmission parts, sales of bearings, gears and transmission
parts, manufacturing of metal tools, sales of metal tools, manufacturing of special
Stock abbreviation: Wazhou B Stock code: 200706 No.: 2026-29
equipment (excluding licensed professional equipment manufacturing), research
and development of machinery and equipment, sales of machinery and equipment,
manufacturing of non-metallic mineral products, sales of non-metallic minerals and
products, ferrous metal casting, non-ferrous metal casting, automotive parts and
accessories manufacturing, Auto parts retail, auto parts wholesale, railway rolling
stock parts manufacturing, railway rolling stock parts sales, industrial design
services, general equipment repair, technical service, technical development,
technical consultation, technical exchange, technology transfer, technology
promotion, metal materials sales, housing leasing, non-residential real estate
leasing, machinery and equipment leasing
Latest audited financial position (2025) : The total assets were 8,249.91 million
yuan, the net assets were 1,184.73 million yuan, the operating income was
The above related parties are not the dishonest persons subjected to execution.
III. Main Contents of the Debt Restructuring Plan and Debt Restructuring
Agreement
After calculation by the company with 264 suppliers, the total amount of various
payments for goods and project funds that the company should pay to the
above-mentioned suppliers amounts to 248,046,494.68 yuan.
After the company's calculation with 5 customers, the bearing payment receivable
from the above-mentioned customers of our company is 21,052,258.87 yuan.
After communication and negotiation with the creditors, in accordance with the
"Debt Restructuring Agreements" signed by our company with 264 suppliers
respectively, based on the principle of mutual benefit and cooperation, the
creditors agreed to waive the creditor's rights for part of the payment. The
remaining payment would be paid to the creditors by the company in the form of
commercial papers and bank deposits. After the creditors received the payment,
the creditor's rights and debts involving the contract details between the two
parties would be settled. There are no other economic disputes.
From January to June 2026, the company completed debt restructuring with
suppliers for 248,046,494.68 yuan, actually paid 235,733,209.8 yuan for goods,
and realized debt restructuring gains of 12,312,284.88 yuan, among which the
gains from related debt restructuring were 1,599,903.86 yuan.
After communication and negotiation between the debtor and our company, in
accordance with the "Debt Restructuring Agreement" signed by our company with
Stock abbreviation: Wazhou B Stock code: 200706 No.: 2026-29
company agrees to waive the creditor's rights of part of the bearing payment.
From January to June 2026, the company completed debt restructuring with
customers for 21,052,258.87 yuan, actually received payment for goods for
among which the loss from related debt restructuring was 450,870.11 yuan.
restructuring.
IV. Other arrangements for debt restructuring
This debt restructuring does not involve subsequent arrangements such as
personnel resettlement, land leasing, or competition in the same industry.
V. Reasons, Purposes of Debt Restructuring and Its Impact on the Company
The primary reason for debt restructuring is that, influenced by the broader market
environment, enterprises may experience relatively tight liquidity in the short term;
to alleviate this financial pressure and accelerate cash recovery, the enterprise
may reach an agreement with its suppliers and customers: when making payments
to suppliers, a certain percentage of discount shall be applied; conversely, when
collecting payments from customers, a corresponding percentage of discount shall
be granted. The determination of these relevant discount rates is based on
negotiations between both parties, within the limits that their respective operations
can afford.
The company's subsequent payment arrangements are based, firstly, on the
outstanding balances due by suppliers as of the settlement date, and secondly, on
the actual amount of funds recovered by the company during the current period;
these funds primarily represent the proceeds generated from the company's
external sales of bearing products; this constitutes routine fund payment activity
and does not impact the company's daily operations.
By conducting debt restructuring, the company can further clarify its creditor-debtor
relationships, alleviate its funding pressures, reduce its debt burden, optimize its
debt structure, and improve its financial position, thereby facilitating the company's
operational development.
Pursuant to the Enterprise Accounting Standards and other relevant regulations,
the net gain from this debt restructuring of RMB 11,092,523.93 shall be recognized
as investment income.
VI. Explanation of Special Opinions
(1) Opinions of the Special Meeting of Independent Directors
After review, we believe that by carrying out debt restructuring, the company can
further sort out its creditor-debtor relationship, optimize its debt structure, and
improve its financial situation. This is conducive to promoting the company's
Stock abbreviation: Wazhou B Stock code: 200706 No.: 2026-29
business development and will not have a significant adverse impact on the
company's financial and business conditions. There is no behavior that harms the
interests of the company and its minority shareholders, and it is in line with the
overall interests of the company. All independent directors agree to this matter and
agree to submit the above-mentioned proposal to the company's board of directors
for deliberation. When the board of directors votes on the motion, the related
directors shall recuse themselves in accordance with the regulations.
VII.Documents for reference
Bearing Co., LTD.
Hereby notify
Board of directors of
Wafangdian bearing Company limited
August 24,2026
首页
微信公众号
证券之星APP
