Wafangdian Bearing Company Limited 2016Annual Report Abstract Stockcode：*ST200706 Stock ID:Wazhou B Announcement No.2017-14 Wafangdian Bearing Company Limited
2016 Annual Report Abstract
1. Important Notes
This abstract was derived from the annual report, the annual report issued on the Shenzhen Stock Exchange web or other web appointed by and CSRC; details please refer to the whole annual report.
The board of directors, board of supervisors, directors, supervisors and the top management guarantee there is no false record, misleading statement or major omission in the report, and take responsibilities for the truth, accuracy and completeness of the contents.
Besides the following directors, all the other directors attended the Board meeting and discussed the report.
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|Name|Post|Reasons|Assignee name|
|Tang Yurong|director|Busy work|Fang Bo|

Reminder of the qualifiedauditor’s opinions
Inapplicable
Preplan of Profit Distribution for Common Stock or Preplan for Capitalization of the Reserves in theReporting Period Reviewed by the Board Meeting
TheCompany’s profit distribution preplan upon review and approval of this board meeting: Based on the total 402,600,000 shares, a cash dividend of RMB 0.1 (tax included) will be distributed for every 10 shares held by shareholders.
Preplan of Profit Distribution for Preferred Shares in the Reporting Period Approved by the Resolution of the Board Meeting
Inapplicable
(2) Brief Information of the listed company
(i) Brief Information of the company
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||Secretary of the Board|Representative of StockA ffairs|
|Name|Sun Najuan|Ke Xin|
||No. 1 Beigongji Street, Wafangdian City,|No. 1 Beigongji Street, Wafangdian City,|
|Correspondence address|||
||Liaoning Province, China.|Liaoning Province, China.|
|Consulting telephone|0411-39116369|0411-39116732|
|Fax|0411-39116738|0411-39116738|
|E-mail|zwz2308＠126.com|zwz2308＠126.com|

(ii). Principal Businesses in the Reporting Period
The scope of operation is: manufacture and sales of bearings, bearing components mechanical equipment, bearing maintenance and technology service, automobile parts and fittings and other related products, lease of mechanical equipment
and buildings, and inspection of bearings and other related mechanical equipment and measure instruments.
Company has strong manufacturing capability and quality assurance capabilities, extensive services in railway, automobile,
metallurgy, mining and other industries and fields.
Wafangdian Bearing Company Limited 2016Annual Report Abstract (iii).Main accounting date
(1) Main accounting date in the near three years
Are there any retrospective adjustments or restatement of financial information of previous year due to change of accounting policies or correcting of accounting errors?
[] Yes[V] No
In RMB Yuan
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|-|-|-|-|-|
||2016|2015|%|2014|
|Turnover(RMB)|2,493,926,556.67|2,300,161,296.48|8.42%|3,007,578,581.96|
|Net profit attributable to shareholders of the|30,872,950.22|-33,380,013.39|||
||||-192.49%|-103,902,948.89|
|listed company(Yuan)|||||
|et profit attributable to the shareholders of|||||
|the listed company after deducting of|-57,771,828.22|-66,446,677.65|-13.06%|-190,819,385.15|
|non-recurring gain/loss(RMB)|||||
|Net Cash flow generated by business|20,520,061.16|-51,528,028.21|||
||||-139.82%|70,472,166.86|
|operation (RMB)|||||
|Basic earnings per share(Yuan/share)|0.08|-0.08|-195.85%|-0.26|
|Diluted earnings per share(Yuan/share)|0.08|-0.08|-195.85%|-0.26|
|Net return on equity(%)|2.26%|-2.45%|-192.39%|-7.18%|
||End of 2016|End of 2015|%|End of 2014|
|Total Assets (RMB)|3,553,947,227.09|3,523,969,203.48|0.85%|3,935,819,231.85|
|Owner’s Equity Attributed toShareholders of|1,379,337,925.55|1,348,464,975.33|||
||||2.29%|1,381,844,988.72|
|ListedCompany(RMB)|||||

(2)Financial Data Summary based on Quarters
In RMB Yuan
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|-|-|-|-|-|
||1s Quarter|2nd Quarter|3rd Quarter|4th Quarter|
|Operating revenue|534,404,100.68|591,050,931.30|570,651,513.49|797,820,011.20|
|Net profit attributable to the|||||
||2,340,344.55|-46,364,530.48|-9,787,613.48|84,684,749.63|
|Company’s shareholders|||||
|Net profit attributable to the|||||
|Company’s shareholders less|-1,164,062.96|-53,569,130.53|-13,385,472.61|10,346,837.88|
|the non-recurring profit and loss|||||

(iv) Shareholders and shares
(1) Information on the top 10 shareholders
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|-|-|-|-|-|-|-|-|-|-|-|-|-|
|||||||Total preferenceshareholders withthevoting powerrecovered at theendof the reportingperiod (if any)|||Total preference||||
|||Total common|||||||||||
|Total common|||||||||shareholders with||||
|||shareholders at the end|||||||||||
||||||||||the voting power||||
|shareholders in||of themonth before|||||||||||
||7,192||||7,044|||0|not recovered at the end|||0|
|the reporting||before the date of|||||||||||
||||||||||of the month before the||||
|period||disclosing the annual|||||||day of disclosingthe||||
|||report|||||||||||
||||||||||annual report||||
|Shares held by the shareholders holding over 5% shares or the top ten shareholders|||||||||||||
||Shares held|||||the end of the|Number||Number of|Pledging or freezing|||
|||||Quantity at|||||||||
|Shareholder names|by thetop ten||Shares held bythe top ten|the end of||reporting periodIncrease/decreas|of thenon-restri||therestricted|Status of|||
||shareholder||shareholders (%)|the reporting||e in the reporting|cted||shares|the|Quantity||
||s|||period||period|shares||held|shares|||

Wafangdian Bearing Company Limited 2016Annual Report Abstract
||||||||
|-|-|-|-|-|-|-|
|||||held|||
|WafangdianBearing GroupCorporation|State-ownedshareholder|60.61%|244,000,000|244,000,000|||
|AKTIEBOLAGETSKF|Foreignshareholder|19.70%|79,300,000||||
||||||Frozen|79,300,000|
|Huang Junyue|Domesticshareholder|1.01%|4,050,000||||
|BOCI SECURITIESLIMITED|Foreignshareholder|0.58%|2,320,000||||
|Hu Xiaofeng|Foreignshareholder|0.47%|1,879,277||||
|GUOTAI JUNANSECURITIES(HONGKONG) LIMITED|Domesticshareholder|0.37%|1,501,640||||
|Jin Yunhua|Domesticshareholder|0.33%|1,311,256||||
|CREDIT SUISSE(HONG KONG)LIMITED|Foreignshareholder|0.26%|1,049,915||||
|MAN,KWAI WING|Foreignprivateshareholder|0.18%|713,101||||
|Zhou Junlin|Domesticshareholder|0.14%|545,600||||
|About the fact that a strategic|||||||
|investor or|||||||
|||In the report period, the frozen period of the shares purchased by the company’s strategic|||||
|ordinary corporate became one of|||||||
|the top||investor AKTIEBOLAGET SKF expired in 1999, and has not dealt with the releasing-procedure in|||||
|ten shareholders due to||this report period. SKF dealt with the releasing-procedure on February 2017|||||
|placement of new|||||||
|shares (if any) (Refer to Note 3)|||||||
|Top ten common shareholders|||||||
|conducting securities margin|||||||
|trading|||||||

（2） Total Preference Shareholders and the Shares Held by the Top 10 Preference Shareholders
Inapplicable
(3)Relationship of the property right and controlling between the Company and actual controller:
Dalian MunicipalGovernment State-owned Assets
Supervising and Managing committee
Innovation Investment Dalian Equipment Manufacture Investment Zhong Cheng Company Limited
Company Company Limited
Wafangdian Bearing Group Company
Wafangdian Bearing Company Ltd
Wafangdian Bearing Company Limited 2016Annual Report Abstract 3.Discussion and analysis
(1)general information in the report peiord
2016, the market competition is more intense, product prices decline, profit margins narrowed. The market competition trend of domestic and international market, the internationalization of domestic competition is becoming more and more serious, bearing products, international and domestic market sales prices continue to decline trend, product gross margin decline, which constitutes a major threat to the enterprise to improve operation quality.
During the reporting period, the company achieved operating income of 2 billion 493 million 926 thousand and 600 yuan, an increase of8.42% over the previous year, net profit of$30 million 873 thousand, which belongs to the parent company owner net profit of$30 million 873 thousand. As of the end of 2016, the company's total assets of 3 billion 554 million yuan, an increase of more than the end of last year, the net assets attributable to shareholders of listed companies was$1 billion 379 million, compared with the end of last year increased by2.29%.
(2) Did there exist any significant change in the principal business in the reporting period
No
(3) Products taking over10% of the Operating Revenue or Operating Profit
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|-|-|-|-|-|-|-|
|||||||Year-on-year|
|||||Year-on-yearincrease|ear-on-year||
|||||||increase/decrease|
||Operating|Operating|Gross|/decrease of perating|increase/decrease of||
|||||||of gross profit rate|
||revenue|profit|profit rate|revenue over|operating profit over||
|||||||over the previous|
|||||the previous year|the previous year||
|||||||year|
|Bearing|2,011,830,831.63|206,731,838.78|10.28%|-1.50%|-1.54%|0.04%|

 (4)Did there exist seasonal or periodic characteristics necessary to pay special attention to
No.
(5)Note to operating revenue, operation cost or total profit attributable to theCompany’s common shareholders in the reporting period or composition of significant change in the previous reporting period
Compared with the previous reporting period, net profit for the reporting period rose sharply, mainly increased: other business gross profit increased by 9 million 830 thousand yuan, expenses for the period decreased by 31 million 610 thousand yuan, of which sales expenses fell 13 million 560 thousand yuan, down 11 million 440 thousand yuan management fees, financial expenses decreased 6 million 600 thousand yuan, operating income increased by 68 million 560 thousand yuan. Main items: reduce the profit of main business gross profit decreased 1 million 460 thousand yuan (mainly by the number of product sales and sales prices, impact) impairment losses increased by 34 million 610 thousand; operating expenses increased by 2 million 920 thousand yuan.
(6)Potential suspension and delisting
Inapplicable
(7). Matters concerning the Financial Report
(i) Note to the change in the accounting policy, accounting estimate and accounting method in comparison with the financial report of the previous year
Inapplicable
(ii) Note to the situation that it is necessary to make retrospective restatement to order to correct the serious accounting errors in the reporting period
Inapplicable
(iii) Note to the change of the scope of the consolidated statements in comparison with the previous year.
Inapplicable