Wafangdian Bearing responds to U.S. sanctions listing

Wafangdian Bearing (SZSE:200706) announced it is taking action after being added to the U.S. Treasury Department's "Specially Designated Nationals and Blocked Persons List" (SDN List). The company has hired legal counsel to understand the reasons for the sanctions and assess their legitimacy, and will actively communicate with all parties. Wafangdian Bearing states that its primary business is the manufacture and sale of bearings and spare parts, with no U.S.-based branches or significant assets. The company emphasizes its commitment to legal and compliant operations, adhering to regulations in its operating region. While the company anticipates a possible impact on its future business, they affirm that they will continue to follow all laws and regulations, ensure timely information disclosure, and urge investors to consider investment risks carefully.