Teleconference to be Held at 8:30 a.m. EDT
BEIJING, April 14 /Xinhua-PRNewswire-FirstCall/ -- Fuwei Films
(Holdings) Co. Limited (Nasdaq: FFHL) (''Fuwei'' or ''the Company''), a
manufacturer and distributor of high-quality BOPET plastic films in China,
today announced the financial results for the fourth quarter and full year
ended December 31, 2007.
Financial Results Highlights
-- Revenues for 2007 rose 2.9% to US$59.1 million (RMB 449.4 million) from
-- Revenues of specialty films in 2007 rose 6.1% from 2006 to US$22.4
million (RMB 170.0 million), or 37.8% of total revenues;
-- Revenues from overseas in 2007 soared 23.9% from 2006 to US$15.0
million (RMB 114.2 million), or 25.4% of total revenues;
-- Gross margin was 22.2% in 2007, as opposed to 23.5% in 2006;
''We are pleased to report a solid year of decent top-line growth and further buildup of our research team,'' said Xiaoan He, Chairman and CEO of Fuwei Films. ''Our exports saw strong expansion, due to our enhanced efforts to market overseas. And we continued to grow sales of higher-margin specialty films, even though we have been facing a challenging operating environment since the second half of 2007, exemplified by higher raw material costs and the capital shortfall for our Third Production Line of thick films.''
Mr. He continued, ''Going forward, we will keep using our newly strengthened R&D platform and our Trial Production Line to commercialize products. Finally, we believe that our enhanced foreign marketing campaigns are positioning us to yield encouraging results in new markets.''
Fourth Quarter Financial Results
Revenues for the fourth quarter of 2007
|SOURCE Fuwei Films (Holdings) Co. Limited|
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