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Fuwei Films Announces Fourth Quarter and Full Year 2007 Financial Results
Date:4/14/2008

ned a marketing office in Osaka, Japan, to focus on market expansion and customer service for BOPET films in Japan. Research indicates Japanese customers are in favor of top-quality BOPET films and world-class after-sales support. By establishing an office in Japan, the Company aims to familiarize itself with the local market and increase the promotion of Fuwei's brand. Fuwei is also targeting the Korean market for beneficial results.

Research & Development Initiatives

Fuwei has been strengthening its R&D capabilities. Its R&D team now has 13 senior researchers and technicians, including one Ph.D and seven masters degree-holders. In addition, the Company recruited five foreign consultants with extensive expertise in the BOPET industry. On the intellectual property front, Fuwei received four patents from the Chinese authorities, with three more pending.

Appointment of New CFO

On April 11, 2008, the Company appointed Mr. Xiuyong Zhang as the new Chief Financial Officer. Mr. Zhang has been a director of the Company since November 2007. He has also been a director of Fuwei's operating subsidiary, Fuwei Films (Shandong) Co., Ltd., since July 2004 and Vice President for Finance there since January 2005. He has more than 10 years of experience in accounting, finance and investments, and holds a Certified Public Accountant title issued by the Ministry of Finance in China. He has received the Professional Certification in Laws from China University of Political Science and Law and China Central Radio and TV University.

Strategic Outlook

In 2008, the Company aims to use the newly strengthened R&D team and make full use of the Trial Production Line to develop innovative materials and techniques for high-end specialty films, such as the in-line coating film for food packaging, the DFR base film for electronic industry, the white film for outdoor billboards, and the soft embossable, holographic film for anti-fraud purposes.

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SOURCE Fuwei Films (Holdings) Co. Limited
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