WafangdianBearingCompanyLimitedAnnouncementof Resolutionof2016annualshareholders’meeting TheCompany,allthemembersoftheBoardofDirectors,supervisorsandtopmanagementhereby guaranteethetruth,accuracyandcompletenessoftheinformationdisclosure,noanyfalserecords,misleading statementsandmajormissingcontents. 1.Importantnotes a.ThenotificationofthemeetinghasannouncedontheSecuritiesTimes,HongkongCommercial Daily"andthe“http//www.cninfo.com.cn”publishedonApril25,2017. b.Norejectionproposalssituationoccurredduringthemeeting, c.Noaddingandchangeoftheproposalssituationoccurredduringthemeeting, 2.Informationofthemeeting 1)Time a):On-sitemeeting:14:30P.M,May18,2017 b):Internet polling:May17,2017---May18,2017.Ofwhichthepollthrough networkviatrading systemofShenzhenStockExchangewillbeat9:30―11:30a.m.and1:00-3:00p.m.datedMay18,2017; anytimefrom3:00p.m.May17,2017to3:00p.mMay18,2016willavailableforpollingthroughinternet pollsystemofShenzhenStockExchange. 2)On-sitemeetingPlace:309meetingroomatZWZGroupheadquarter 3)Wayofmeeting:on-sitevotesplusnetworkpolling 4)Convener:BoardofdirectorsofWafangdianBearingCo.,Ltd. 5)Preside:Mr.MengWei 6)HoldingofthemeetingabidesbytheCompanyLaw,RegulationofListingofStockandthe ArticlesofAssociationoftheCompany. 3.Attendanceinformation 1)3shareholders(proxy)attendedthemeetingonbehalfof323,304,600shares,whichtake 80.31%ofthetotalvotingshares.Ofwhich1internalcapitalshareholder(proxy)attendedthemeetingon behalfof244,000,000shareswhichtake60.61%ofthetotalvotingshares.2foreigncapitalshareholders (proxy)attendedthemeetingonbehalfof79,304,600shares,whichtake19.70%ofthetotalvoting shares a:2shareholders(proxy)attendedthespotmeetingonbehalfof323,300,000shares,whichtake80.31%ofthetotalvotingshares. b:1shareholders(proxy)votethroughnetworktradingsystemofShenzhenStockExchangeand internetpollsystemofShenzhenStockExchangeonbehalfof4,600shares,whichtake0.001%ofthe totalvotingshares. Generalinstructionfortheminorityshareholders:throughnetworktradingsystemofShenzhen StockExchangeandinternetpollsystemofShenzhenStockExchangeonbehalfof4,600shares,which take0.001%ofthetotalvotingshares. 2).Severaldirectors,supervisorsandtopmanagementaswellaslawyerattendthemeeting. 4.Discussionoftheproposalandtheinformationofvoting (1)2016annualreportoftheboardofdirectors Theresultofvoting:323,300,000sharesaffirmative(Spotvoting323,300,000sharesaffirmative andinternetpolling 0sharesaffirmative),which take99.999%ofthevalidvotingright heldby the shareholderswhoattended themeeting;4,600shareobjected (Spotvoting 0 sharesobjectedand internet polling 4,600 shares objected), which take 0.001% of thevalid voting right heldby the shareholderswhoattendedthemeeting;0sharewaived. 24244,000,000internalcapitalsharesaffirmative,whichtakes100%ofthevalidvotingrightheld byalltheinternalcapitalshareholderswhoattendedthemeeting.79,300,000foreigncapitalshares affirmative,whichtake99.94% ofthevalidvoting rightheldby allforeigncapital shareholderswho attendedthemeeting,4,600shareobjected,whichtake0.006%ofthevalidvotingrightheldbyall foreigncapitalshareholderswhoattendedthemeeting;0sharewaived. The minority shareholders (in addition to the company's directors, supervisors and senior managementpersonnelandothershareholders,aloneortogetherholdmorethan5%ofthecompany's shareholders)votingfor:0shareagree,4,600shareobjected,whichtake0.001%ofthevalidvotingright heldbytheshareholderswhoattendedthemeeting;,0sharesabstained. Votingresult:approved. (2)2016annualreportoftheboardofsupervisors Theresultofvoting:323,300,000sharesaffirmative(Spotvoting323,300,000sharesaffirmative andinternetpolling 0sharesaffirmative),which take99.999%ofthevalidvotingright heldby the shareholderswhoattended themeeting;4,600shareobjected (Spotvoting 0 sharesobjectedand internet polling 4,600 shares objected), which take 0.001% of thevalid voting right heldby the shareholderswhoattendedthemeeting;0sharewaived. 24244,000,000internalcapitalsharesaffirmative,whichtakes100%ofthevalidvotingrightheld byalltheinternalcapitalshareholderswhoattendedthemeeting.79,300,000foreigncapitalshares affirmative,whichtake99.94% ofthevalidvoting rightheldby allforeigncapital shareholderswho attendedthemeeting,4,600shareobjected,whichtake0.006%ofthevalidvotingrightheldbyall foreigncapitalshareholderswhoattendedthemeeting;0sharewaived. The minority shareholders (in addition to the company's directors, supervisors and senior managementpersonnelandothershareholders,aloneortogetherholdmorethan5%ofthecompany's shareholders)votingfor:0shareagree,4,600shareobjected,whichtake0.001%ofthevalidvotingright heldbytheshareholderswhoattendedthemeeting;,0sharesabstained. Votingresult:approved. (3)ProfitDistributionPlanof2016; Theresultofvoting:323,300,000sharesaffirmative(Spotvoting323,300,000sharesaffirmative andinternetpolling 0sharesaffirmative),which take99.999%ofthevalidvotingright heldby the shareholderswhoattended themeeting;4,600shareobjected (Spotvoting 0 sharesobjectedand internet polling 4,600 shares objected), which take 0.001% of thevalid voting right heldby the shareholderswhoattendedthemeeting;0sharewaived. 24244,000,000internalcapitalsharesaffirmative,whichtakes100%ofthevalidvotingrightheld byalltheinternalcapitalshareholderswhoattendedthemeeting.79,300,000foreigncapitalshares affirmative,whichtake99.94% ofthevalidvoting rightheldby allforeigncapital shareholderswho attendedthemeeting,4,600shareobjected,whichtake0.006%ofthevalidvotingrightheldbyall foreigncapitalshareholderswhoattendedthemeeting;0sharewaived. The minority shareholders (in addition to the company's directors, supervisors and senior managementpersonnelandothershareholders,aloneortogetherholdmorethan5%ofthecompany's shareholders)votingfor:0shareagree,4,600shareobjected,whichtake0.001%ofthevalidvotingright heldbytheshareholderswhoattendedthemeeting;,0sharesabstained. Votingresult:approved. (4)FinalAccountReport(Audited)of2016 Theresultofvoting:323,300,000sharesaffirmative(Spotvoting323,300,000sharesaffirmative andinternetpolling 0sharesaffirmative),which take99.999%ofthevalidvotingright heldby the shareholderswhoattended themeeting;4,600shareobjected (Spotvoting 0 sharesobjectedand internet polling 4,600 shares objected), which take 0.001% of thevalid voting right heldby the shareholderswhoattendedthemeeting;0sharewaived. 24244,000,000internalcapitalsharesaffirmative,whichtakes100%ofthevalidvotingrightheld byalltheinternalcapitalshareholderswhoattendedthemeeting.79,300,000foreigncapitalshares affirmative,whichtake99.94% ofthevalidvoting rightheldby allforeigncapital shareholderswho attendedthemeeting,4,600shareobjected,whichtake0.006%ofthevalidvotingrightheldbyall foreigncapitalshareholderswhoattendedthemeeting;0sharewaived. The minority shareholders (in addition to the company's directors, supervisors and senior managementpersonnelandothershareholders,aloneortogetherholdmorethan5%ofthecompany's shareholders)votingfor:0shareagree,4,600shareobjected,whichtake0.001%ofthevalidvotingright heldbytheshareholderswhoattendedthemeeting;,0sharesabstained. Votingresult:approved. (5)FinancialBudgetof2017 Theresultofvoting:323,300,000sharesaffirmative(Spotvoting323,300,000sharesaffirmative andinternetpolling 0sharesaffirmative), whichtake99.999%ofthevalidvotingright heldby the shareholderswhoattended themeeting;4,600shareobjected (Spotvoting 0 sharesobjectedand internet polling 4,600 shares objected), which take 0.001% of thevalid voting right heldby the shareholderswhoattendedthemeeting;0sharewaived. 24244,000,000internalcapitalsharesaffirmative,whichtakes100%ofthevalidvotingrightheld byalltheinternalcapitalshareholderswhoattendedthemeeting.79,300,000foreigncapitalshares affirmative,whichtake99.94% ofthevalidvoting rightheldby allforeigncapital shareholderswho attendedthemeeting,4,600shareobjected,whichtake0.006%ofthevalidvotingrightheldbyall foreigncapitalshareholderswhoattendedthemeeting;0sharewaived. The minority shareholders (in addition to the company's directors, supervisors and senior managementpersonnelandothershareholders,aloneortogetherholdmorethan5%ofthecompany's shareholders)votingfor:0shareagree,4,600shareobjected,whichtake0.001%ofthevalidvotingright heldbytheshareholderswhoattendedthemeeting;,0sharesabstained. Votingresult:approved. (6)AnnualReport2016anditsSummary Theresultofvoting:323,300,000sharesaffirmative(Spotvoting323,300,000sharesaffirmative andinternetpolling 0sharesaffirmative),which take99.999%ofthevalidvotingright heldby the shareholderswhoattended themeeting;4,600shareobjected (Spotvoting 0 sharesobjectedand internet polling 4,600 shares objected), which take 0.001% of thevalid voting right heldby the shareholderswhoattendedthemeeting;0sharewaived. 24244,000,000internalcapitalsharesaffirmative,whichtakes100%ofthevalidvotingrightheld byalltheinternalcapitalshareholderswhoattendedthemeeting.79,300,000foreigncapitalshares affirmative,whichtake99.94% ofthevalidvoting rightheldby allforeigncapital shareholderswho attendedthemeeting,4,600shareobjected,whichtake0.006%ofthevalidvotingrightheldbyall foreigncapitalshareholderswhoattendedthemeeting;0sharewaived. The minority shareholders (in addition to the company's directors, supervisors and senior managementpersonnelandothershareholders,aloneortogetherholdmorethan5%ofthecompany's shareholders)votingfor:0shareagree,4,600shareobjected,whichtake0.001%ofthevalidvotingright heldbytheshareholderswhoattendedthemeeting;,0sharesabstained. Votingresult:approved. (7)RoutineRelatedTransactionof2016andBudgetofRelatedTransactionforyearof 2017(afteraudited) ThefirstshareholderofWBCisZWZGroup,whoheld244,000,000internalcapitalsharesabided allthetermsinaccordantrequirementalltheitems.Thevotingresultsofothershareholders: 79,300,000sharesaffirmative(Spotvoting79,300,000sharesaffirmativeandinternetpolling0 sharesaffirmative),whichtakethe99.994%ofthevotingrightheldbynon-associatedshareholderswho attendedthemeeting,4,600shareobjected,(Spotvoting0sharesobjectedandinternetpolling4,600 sharesobjected),whichtakethe0.006%ofthevotingrightheldbynon-associatedshareholderswho attendedthemeeting;0sharewaived. The minority shareholders (in addition to the company's directors, supervisors and senior managementpersonnelandothershareholders,aloneortogetherholdmorethan5%ofthecompany's shareholders)votingfor:0shareagree,4,600shareobjected,whichtakethe0.006%ofthevotingright heldbynon-associatedshareholderswhoattendedthemeeting,,0sharesabstained. Theresultofvoting:approved. (8)Provisionforimpairmentofassets Theresultofvoting:323,300,000sharesaffirmative(Spotvoting323,300,000sharesaffirmative andinternetpolling 0sharesaffirmative), whichtake99.999%ofthevalidvotingright heldby the shareholderswhoattended themeeting;4,600shareobjected (Spotvoting 0 sharesobjectedand internet polling 4,600 shares objected), which take 0.001% of thevalid voting right heldby the shareholderswhoattendedthemeeting;0sharewaived. 24244,000,000internalcapitalsharesaffirmative,whichtakes100%ofthevalidvotingrightheld byalltheinternalcapitalshareholderswhoattendedthemeeting.79,300,000foreigncapitalshares affirmative,whichtake99.94% ofthevalidvoting rightheldby allforeigncapital shareholderswho attendedthemeeting,4,600shareobjected,whichtake0.006%ofthevalidvotingrightheldbyall foreigncapitalshareholderswhoattendedthemeeting;0sharewaived. The minority shareholders (in addition to the company's directors, supervisors and senior managementpersonnelandothershareholders,aloneortogetherholdmorethan5%ofthecompany's shareholders)votingfor:0shareagree,4,600shareobjected,whichtake0.001%ofthevalidvotingright heldbytheshareholderswhoattendedthemeeting;,0sharesabstained. Votingresult:approved. (9)ElectionofIndependentDirector Mrs.Liang Shuang was elected for the Independent Director, and the qualification and independenceoftheindependentdirectorcandidatehasbereportedtoShenZhenStockExchangeto recordwithoutobjection. Theresultofvoting:323,300,000sharesaffirmative(Spotvoting323,300,000sharesaffirmative andinternetpolling 0sharesaffirmative),which take99.999%ofthevalidvotingright heldby the shareholderswhoattended themeeting;4,600shareobjected (Spotvoting 0 sharesobjectedand internet polling 4,600 shares objected), which take 0.001% of thevalid voting right heldby the shareholderswhoattendedthemeeting;0sharewaived. 24244,000,000internalcapitalsharesaffirmative,whichtakes100%ofthevalidvotingrightheld byalltheinternalcapitalshareholderswhoattendedthemeeting.79,300,000foreigncapitalshares affirmative,whichtake99.94% ofthevalidvoting rightheldby allforeigncapital shareholderswho attendedthemeeting,4,600shareobjected,whichtake0.006%ofthevalidvotingrightheldbyall foreigncapitalshareholderswhoattendedthemeeting;0sharewaived. The minority shareholders (in addition to the company's directors, supervisors and senior managementpersonnelandothershareholders,aloneortogetherholdmorethan5%ofthecompany's shareholders)votingfor:0shareagree,4,600shareobjected,whichtake0.001%ofthevalidvotingright heldbytheshareholderswhoattendedthemeeting;,0sharesabstained. Votingresult:approved. (10)EngagementofCPAandtheirRemuneration Theresultofvoting:323,300,000sharesaffirmative(Spotvoting323,300,000sharesaffirmative andinternetpolling 0sharesaffirmative),which take99.999%ofthevalidvotingright heldby the shareholderswhoattended themeeting;4,600shareobjected (Spotvoting 0 sharesobjectedand internet polling 4,600 shares objected), which take 0.001% of thevalid voting right heldby the shareholderswhoattendedthemeeting;0sharewaived. 24244,000,000internalcapitalsharesaffirmative,whichtakes100%ofthevalidvotingrightheld byalltheinternalcapitalshareholderswhoattendedthemeeting.79,300,000foreigncapitalshares affirmative,whichtake99.94% ofthevalidvoting rightheldby allforeigncapital shareholderswho attendedthemeeting,4,600shareobjected,whichtake0.006%ofthevalidvotingrightheldbyall foreigncapitalshareholderswhoattendedthemeeting;0sharewaived. The minority shareholders (in addition to the company's directors, supervisors and senior managementpersonnelandothershareholders,aloneortogetherholdmorethan5%ofthecompany's shareholders)votingfor:0shareagree,4,600shareobjected,whichtake0.001%ofthevalidvotingright heldbytheshareholderswhoattendedthemeeting;,0sharesabstained. Votingresult:approved. 5.Legaladvicesshowedbylawyer 1)Nameofthelawoffice:LiaoNingHuaxialawoffice 2)Lawyer:Mrs.BaoJingxin,Mrs.LiuCuimei 3)Conclusion:Theholdingandconveningoftheshareholders’meetingconformstotherelative laws,rulesandtheArticleofAssociation.Thequalificationofpeoplewhoattendedthemeetingislegal andvalid.Thevotingprocedureislegalandvalid.Theresolutionofthemeetingislegalandvalid. 6.Referencedocument 1)Resolutionof2016annualShareholders’meeting 2)Lawopinionsreport 3)OtherdocumentsrequiredbySZSE. WafangdianBearingCo.Ltd BoardofDirectors May18,2017