WBC(SZ:200706) Zheng Quan Ri Bao·2026-01-18 14:05Core Viewpoint - Wafangdian Bearing Co., Ltd. (referred to as "Wafangdian B") is actively progressing towards voluntary delisting, with its controlling shareholder, Wafangdian Bearing Group Co., Ltd. (referred to as "Wafangdian Group"), initiating a comprehensive tender offer to acquire all circulating shares at a price of 2.86 HKD per share [2][4]. Group 1 - Wafangdian B has reported continuous financial struggles, with net profits declining for six consecutive years and non-recurring net profits showing losses for twelve years since 2013 [2][3]. - The company’s financial performance has been adversely affected by global economic downturns and structural adjustments, leading to increased financial risks and operational challenges [3][5]. - As of the third quarter of 2025, Wafangdian B reported a net loss of 29.51 million CNY and a non-recurring net loss of 45.68 million CNY, with a high asset-liability ratio of 91.90% [3]. Group 2 - The tender offer period is set from January 20, 2026, to February 27, 2026, lasting 39 days, with a minimum acceptance threshold of 3.905 million shares for the offer to be valid [4]. - Wafangdian Group currently holds 244 million shares, representing 60.61% of Wafangdian B's total share capital, and the maximum funding required for the tender offer is estimated at 454 million HKD [4]. - Legal experts suggest that voluntary delisting may be a pragmatic choice for the company, allowing it to relieve short-term performance pressures and potentially pursue long-term transformation with the support of its major shareholder [5].