FFHL - FFHL STOCK NEWS

Fuwei Films (Nasdaq: FFHL) reported its Q3 2020 financial results, posting net sales of RMB84.3 million (US$12.4 million), a 5.9% increase compared to Q3 2019. Specialty films sales surged by 34.0% to RMB54.4 million, now comprising 64.6% of total revenues. Gross profit for the quarter reached RMB36.0 million (42.7% margin), markedly up from RMB21.6 million (27.1% margin) in 2019. Net profit attributable to the company soared to RMB13.5 million from RMB3.4 million. Despite challenges from COVID-19, the firm maintained profitability for six consecutive quarters, demonstrating resilience and effective strategies.

Fuwei Films (Nasdaq: FFHL) will release its unaudited financial results for Q3 2020 on November 23, 2020, post-market closure. A teleconference to discuss the results is scheduled for November 24, 2020, at 8:00 a.m. ET. Interested parties can participate by dialing the provided numbers. The company specializes in BOPET films used in packaging for various industries. However, the press release highlights potential risks, such as oversupply in the BOPET market, trade uncertainties, and challenges in product development.

Fuwei Films (Nasdaq: FFHL) held its Annual General Meeting on Nov 6, 2020, with 73.39% of outstanding shares represented. Shareholders re-elected Lei Yan, Jingjing Cheng, and Lihang Geng as directors, and ratified the appointment of Shandong Haoxin as the independent public accounting firm for the fiscal year ending Dec 31, 2020. Chairman Lei Yan expressed gratitude for shareholder support in advancing the company’s strategies.

Fuwei Films (Nasdaq: FFHL) announced its 2020 Annual General Meeting of Shareholders will be held on November 6, 2020, at 10:00 a.m. Beijing Time in Weifang, Shandong, China. Shareholders of record as of September 21, 2020 are eligible to attend. Additionally, Fuwei Films has filed its Annual Report on Form 20-F with the SEC for the fiscal year ending December 31, 2019, available on their website. The report includes financial statements and can be requested via email.

Fuwei Films announced its Q2 2020 results, revealing net sales of RMB82.9 million (US$11.7 million), down from RMB88.1 million in Q2 2019. Specialty film sales grew to RMB48.1 million (58% of total revenues), a 14.5% increase year-over-year. Gross profit surged to RMB34.4 million (41.6% margin) versus 21.1% in the previous year. Net profit reached RMB14.1 million, up from RMB1.0 million in Q2 2019. For H1 2020, net sales totaled RMB166.1 million, with specialty films contributing RMB88.0 million. The firm continues to innovate despite market challenges.

Fuwei Films (Nasdaq: FFHL) will announce its second quarter 2020 financial results on September 3, 2020, after market close. The Company, based in China, specializes in manufacturing high-quality BOPET plastic films. A teleconference to discuss the results is scheduled for September 4, 2020, at 9:00 a.m. ET. Participants can join by dialing +1-844-369-8770 (North America) or +1-862-298-0840 (international). A replay of the call will be accessible until September 18, 2020.

Fuwei Films (Nasdaq: FFHL) announced significant management changes on July 17, 2020. Mr. Zengyong Wang resigned as CEO and Chairman, effective July 20, 2020, with Mr. Lei Yan appointed as his successor starting July 21, 2020. Additionally, CFO Benjie Dong resigned, with Ms. Jingjing Cheng taking over the role from July 21, 2020. Both resignations were due to personal reasons, not disagreements with the Company. The Board expressed gratitude for their contributions, highlighting Mr. Wang's leadership since 2015.

Fuwei Films (Holdings) Co., Ltd. (Nasdaq: FFHL) announced a significant ownership transfer of its 52.9% controlling shares from Shandong SNTON Group to Shanghai Meicheng Enterprise Management Co., Ltd. This transfer was part of SNTON Group's asset reorganization effective June 23, 2020. Shanghai Meicheng, based in Shanghai, is engaged in diverse investments, including new materials and smart city technologies. The transfer could enhance strategic direction for Fuwei Films, which specializes in high-quality BOPET plastic films used across various industries.

Fuwei Films (FFHL) reported Q1 2020 unaudited financial results, revealing net sales of RMB83.2 million (US$11.8 million), up 2.6% from RMB81.1 million in Q1 2019. Specialty films sales increased to RMB39.9 million, representing 47.9% of total revenues. Gross profit surged to RMB29.8 million, with a gross margin of 35.8%, significantly higher than 15.3% in the prior year. The company achieved a net profit of RMB13.0 million, returning from a loss of RMB3.4 million in Q1 2019. Overall, Fuwei Films continues to navigate through industry challenges while maintaining profitability.