Wafangdian Bearing Company Limited 2016 Midyear Report Abstract StockID:*ST Wazhou B Stockcode：200706 Announcement No.2016-24 Wafangdian Bearing Company Limited
2016 Midyear Report Abstract
1. Important Notes
(1) 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.
(2)Brief Information of the listed company
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|Abbreviated name of the stock|*ST Wazhou B|Stock code:||200706|
|Listing location of the Company’s stock:|Shenzhen Stock Exchange||||
|Contacts|Secretary of the Board||Representative of Stock Affairs||
|Name|Sun Najuan||Ke Xin||
|Consulting telephone|0411-39116369||0411-39116732||
|Fax|0411-39116738||0411-39116738||
|E-mail|zwz2308＠126.com||zwz2308＠126.com||

2.Main accounting date and shareholder change
（1）Main accounting data
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||||+/-（％）comparing with the previous|
||current period|previous period||
||||period|
|Operating income|1,125,455,031.98|1,168,093,679.34|-3.65%|
|Net profit available for shareholders of listingcompany|-44,024,185.93|-59,587,254.16|-26.12%|
|Net profit available for shareholders of listingcompany with abnormal incomes deducted|-55,263,473.29|-65,404,823.42|-15.51%|
|Net cash flows from operation activities|-8,389,665.15|14,734,845.66|-156.94%|
|Basic gains on per share|-0.11|-0.15|-26.67%|
|Diluted gains on per share|-0.11|-0.15|-26.67%|
|Net returns on assets (%)|-3.32%|-4.41%|1.09%|
||||+/-（％）comparing with the end of last|
||2016.06.30|2015.12.31||
||||year|
|Total assets|3,520,139,949.23|3,523,969,203.48|-0.11%|
|Owners’ equity (shareholders’ equity)|1,304,440,789.40|1,348,464,975.33|-3.26%|

（2）Information on the top 10 shareholders
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|Total shareholders at the end of report period|7，325|

Wafangdian Bearing Company Limited 2016 Midyear Report Abstract
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|Top ten shareholders’ status|||||||
||||||Impawned and frozen||
|||||Non-circulation|||
|Name|Nature|Proportion（%）|Total shares||shares||
|||||shares|||
||||||status|quantity|
|WafangdianBearing GroupCorporation|State-ownedshareholder|60.61%|402,600,000|244,000,000|||
|AKTIEBOLAGETSKF|Foreignshareholder|19.70%|79,300,000||||
||||||frozen|79,300,000|
|Huang Junyue|Domesticshareholder|1.01%|4,050,000||||
|BOCISECURITIESLIMITED|Foreignshareholder|0.55%|2,220,000||||
|Jin Yunhua|Domesticshareholder|0.51%|2,072,629||||
|Hu Xiaofeng|Domesticshareholder|0.47%|1,879,277||||
|GUOTAI JUNANSECURITIES(HONGKONG)LIMITED|Foreignshareholder|0.45%|1,795,540||||
|CREDIT SUISSE(HONG KONG)LIMITED|Foreignshareholder|0.26%|1,049,915||||
|MAN,KWAIWING文贵荣|Foreign privateshareholde|0.18%|713,101||||
|Miao Jun|Domesticshareholder|0.14%|552,700||||
|The explanation on the|||||||
|relationship and consistent||There was no relationship and consistent activities between the first big shareholder and|||||
|activities between above||other shareholders or the top ten common stock holders;|||||
|shareholders|||||||

(3) Total Preference Shareholders and the Shares Held by the Top 10 Preference Shareholders
Inapplicable
(4) Changes of the holding shareholders and the actual controller
Changes of the holding shareholders
□applicable √Not applicable
Changes of the holding shareholders and the actual controller
□applicable √Not applicable
3.Discussion and analysis
In the first half of year,the macroeconomic downward pressure diminished, the industrial economy remains in the
doldrums, the bearing industry is still in negative growth,but the company has overcome the lack of market orders, sales
Wafangdian Bearing Company Limited 2016 Midyear Report Abstract prices continue to decline, market competition and many other difficulties, has taken various measures to actively and steadily, maintained a steady business development.
At the end of June 30, company's total assets is 3.25014 billion Yuan, which decrease0.11% compared with the beginning of this year; Net assess attributing to shareholders of listed company 1.30444 billion Yuan, decreasedby3.26% compared with then beginning of this year; Operating income is 1.12546 billion Yuan, decrease by3.65% compared with the same period last year; Net profit of attributing to shareholders of the parent company is minus 44.02 million Yuan, in the last year was 59.59 million Yuan.
4.Relevant items involved financial report
(1) The explanation of the changes in accounting policies, accounting estimation and calculation method comparing with the latest annual report
□applicable √Not applicable
(2) The content of significant errors, the changed amount, the reason and the effect
□applicable √Not applicable
(3) The explanation of the changes in the consolidated scope comparing with the latest annual report
□applicable √Not applicable
(4) Opinions presented by Board meeting and supervisor meeting on “un-standard audit report”
□applicable √Not applicable