Stock：*ST WazhouB Code：200706 No.：2016-37 Wafangdian Bearing Company Limited
Announcement of Resolution of the 2nd Meeting of 7th Board Session
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.
I.The statement of Board of Directors Meeting
1.When and how the notice is sent out
Meeting notice of the 2nd Meeting of 7th Board of Directors of Wafangdian Bearing Company limited has been sent by fax on October 16, 2016.
2.The time, place and the way of the Board of Directors Meeting
The 7th Meeting of 2th Board of Directors of Wafangdian Bearing Company limited was held at Conference Room 309, at ZWZ Group Headquarter at 9:30 October 26, 2016 by on-the-spot meeting.. 3.The board members that should attend and actually present
12 board members should attend the meeting but actually 12 members were present, 1 members appointed representatives to attend the meeting. Mr. Tang Yurongdidn’t attend the meeting because of work and authorized Mrs. Fang Bo on his behalf.
4..The compere and the present member of the Board of Directors Meeting
The Board of Directors Meeting is hold by the chairman of the Board Mr. Meng Wei, and 3 Supervisor representatives attended the meeting as non-voting delegates.
5.Holding of meeting conforms to regulations of “Corporate Law” as well as “Article of Association”. II.The deliberation of the Board of Directors Meeting
1. The Q3 report of 2016;
Approval result: 12 approving vote, 0 rejecting vote and 0 abstaining vote;
2. The Q3 Financial Final Report of 2016(un-audited);
Approval result: 12 approving vote, 0 rejecting vote and 0 abstaining vote;
3. The proposal of adjusting the business of WBGC automobile bearing branch, precision cage company, precision roller company, renting out related assets and involving related transaction (Adjusted);
Approval result: 6 approving vote, 0 rejecting vote and 0 abstaining vote;
4. The proposal of buying rental equipment and involving related transaction (Evaluated);
Stock：*ST WazhouB Code：200706 No.：2016-37 Approval result: 6 approving vote, 0 rejecting vote and 0 abstaining vote;
5. The proposal of assets sale which involved in related transaction (Evaluated);
5.1 The proposal of selling the Shenyang agencies plant to WBGC;
Approval result: 6 approving vote, 0 rejecting vote and 0 abstaining vote;
5.2 The proposal of selling the Pulandian plant to WBGC;
Approval result: 6 approving vote, 0 rejecting vote and 0 abstaining vote;
5.3 The proposal of selling the fully depreciated equipment to WBGC automobile bearing branch, precision cage company, precision roller company.
Approval result: 6 approving vote, 0 rejecting vote and 0 abstaining vote;
5.4 The proposal of selling low-value consumption goods whose cost have been amortized to WBGC automobile bearing branch, precision cage company, precision roller company;
Approval result: 6 approving vote, 0 rejecting vote and 0 abstaining vote;
5.5 The proposal of selling idle equipment to WBGC equipment manufacturing Company;
Approval result: 6 approving vote, 0 rejecting vote and 0 abstaining vote;
5.6 The proposal of selling railway private sidings and related assets to WBGC precision forging Company;
Approval result: 6 approving vote, 0 rejecting vote and 0 abstaining vote;
6. The proposal of holding the first extraordinaryShareholder’s meeting in 2016;
Approval result: 12 approving vote, 0 rejecting vote and 0 abstaining vote;
The above mentioned proposal of 3.4,5 still should be passed by the 2016 1st extraordinaryshareholder’s meeting. And the notice the 2016 1st extraordinaryshareholder’s meeting will be announced on http://wltp.cninfo.com.cn.
The independent directors make the pre-confirm and independent opinion on proposal 3 to 5,and the announcement of related transaction shall be found in http://wltp.cninfo.com.cn
III.The documents for future reference
1. The Resolution of the 2th Meeting of 7th Board Session
2. The 2016 the third quarter Financial Final Reports stamped by the company and singed by the legal representative of the Company, the principal of charging account work and the principal of account organization.
Board of director of Wafangdian Bearing
Company limited
October 27, 2016