Shorttitle:*STWaZhouB Code：200706 No.:2016-50 AssociatedbusinessprogressannouncementofsellingShenyang agenciesplanttoWBGCwithadjustedevaluationof WafangdianBearingCompanyLimited Ourcompany,thewholemembersoftheboardofdirectorsandtopmanagementsensuredthetruth, accuracy,completeness,nofalserecord,misleadingstatementandfatalomitoftheannouncement. I.Overview WafangdianCitybearingLimitedbyShareLtd(hereinafterreferredtoasthe"company")onOctober 26,2016heldtheseventhsessionofthesecondmeetingoftheboardofdirectorsapproved" selling ShenyangagenciesplanttoWBGC",andinNovember14,2016heldinWafangdianCitybearingLimited byShareLtdin2016thefirstprovisionalshareholdersmeetingexaminedandapprovedtheproposal. ThecompanyentrustedwiththequalificationofsecuritiesandfuturesrelatedbusinessinBeijingChina enterpriseappraisalslimitedliabilitycompanyofthesehouseswereassessed,andonOctober25,2016 issuedbytheChinaenterprisePingBaoZi(2016)No.3988th"WafangdianCitybearingpartofLimitedby ShareLtdintendstotransferofassetsreporttoWafangdianCitybearingRefcoGroupLtdproject evaluation"(hereinafterreferredtoasthe"assessmentreport"). ThetransactiondetailsofthecompanyinOctober28,2016inthesecuritiestimes,Hongkongbusiness Dailyandthehttp://wltp.cninfo.com.cn."WafangdianBearingCompanyAnnouncementLimitedRelated Transaction"(BulletinNo.2016-39). BeforethegeneralmeetingofshareholdersholdingonNovember14,2016,WBGCdidn’treceived replyfromDalianSASAC. Theeffectiveconditionsofthetransactionsubjecttotwoconstraints:oneisWBGCgettheagreement fromDalianSASAContheassessment;Thesecondistheproposalshouldbeapprovedbythegeneral meetingofshareholdersofthecompany. InDecember5,2016,WBGCreceivedtherecordfromDalianSASACfortheassessmentresults agree.Becausethepropertyareaislarge,fullyconsiderationtotheimpactofmarkettradingactivity,the recordofevaluationresultsisdifferentfromtheapprovaloftheshareholders'meetingofthetransaction, sotheshareholder’smeetingneedstore-reviewthisproposal II.Theadjustmentontheobjection i.Adjustment In the filing process, according to the requirements of the SASAC, Beijing China enterpriseappraisalslimitedliabilitycompany"ChinaenterprisePingBaoZi(2016)No.3988th"WafangdianCitybearingLimitedbyShareLtdintendstotransferpartoftheassetstoWafangdianCitybearingRefcoGroupLtdprojectassessmentreport"and"split"ChinaEnterprise(2016)the3988-1wordcommentary",Shorttitle:*STWaZhouB Code：200706 No.:2016-50 "ChinaEnterprise(2016wordcommentaryarticle3988-2)twoassessmentreport,thetotalevaluation rangenoadjustment.TheoriginalassessmentreportofthedistributionofhousinginShenyangbelongsto theadjustmentofthe"3988-2"assessmentoftheassetswithinthescopeoftheassessmentreport. Beijing China enterprise appraisals limited liability company values were adjusted to the housing assessment,theassessedvaluefrom17,779,200Yuanto15,527,200Yuan. ii.Affectedtothecompany Afterfriendlynegotiation,bothpartiesagreetotradeatthepriceofadjustedassessment. III.Thereview Theproposalhasbeenapprovedbythe20164thtemporaryboardsession,andwillbesubmittedto theshareholdersmeetingtoreview. Theassessmentreportafteradjustedcanbefoundon http://wltp.cninfo.com.cn. iv、Thedocumentsforfuturereference 1.WafangdianBearingCo.,LtdResolutionsofBoardofDirectors 2.WafangdianBearingCo.,LtdResolutionsoftheBoardofSupervisors. 3.Assessmentreportafteradjusted 4.Theindependentdirectorindependentopinion 5.OtherdocumentrequiredbySZSE SpeciallyAnnouncement BoardofdirectorofWaFangdianbearingCo.,Ltd December13,2016