BEIJING, Nov. 28, 2016 /PRNewswire/ --
-Teleconference to be Held on Tuesday,
November 29, 2016 at 8:00 am EST-
Fuwei Films (Holdings) Co., Ltd. (Nasdaq: FFHL) ("Fuwei Films" or the "Company"), a
manufacturer and distributor of high-quality BOPET plastic films in
China, today announced its
unaudited financial results for the three and nine months ended
September 30, 2016.
Highlights
- Net sales during the third quarter ended September 30, 2016 were RMB61.6 million or US$9.2
million.
- In the third quarter of 2016, sales of specialty films were
RMB22.7 million or US$3.4 million or 36.8% of our total revenues as
compared to RMB18.7 million or28.5%
in the same period of 2015, which was an increase of RMB4.0 million.
- Our gross profit was RMB1.1
million or US$0.2 million for
the third quarter ended September 30,
2016, representing a gross profit rate of 1.7%.
- Basic and diluted net loss per share was RMB1.03 or US$0.15
and RMB0.94 for the three-month
period ended September 30, 2016 and
2015, respectively.
On November 22, 2016, a majority
of the shareholders of the Company approve, in principal, a 1-for-4
reverse stock split of the Company's authorized ordinary shares,
accompanied by a corresponding decrease in the Company's issued and
outstanding ordinary shares and an increase of the par value of
each ordinary share from $0.129752 to
$US$0.519008, subject to an extraordinary meeting of shareholders
to be held on December 5, 2016.
Third Quarter 2016 Results
Net sales during the third quarter ended September 30, 2016 were RMB61.6 million or US$9.2
million, compared to RMB65.7
million during the same period in 2015, representing a
decrease of RMB4.1 million or 6.2%,
mainly due to the reduction of average sales price by 5.9% arising
from stronger competition in China
and large reduction in prices of main raw materials. The reduction
of average sales price caused a decrease of RMB3.8 million and the sales volume decrease
caused a decrease of RMB0.3
million.
In the third quarter of 2016, sales of specialty films were
RMB22.7 million or US$3.4 million or 36.8% of our total revenues as
compared to RMB18.7 million or 28.5%
in the same period of 2015, which was an increase of RMB4.0 million, or 21.4% as compared to the same
period in 2015. The reduction in average sales price caused a
decrease of RMB0.2 million and the
increase in the sales volume caused an increase of RMB4.2 million.
The following is a breakdown of commodity and specialty film
sales (amounts in thousands):
|
Three-Month Period
Ended
September 30, 2016
|
% of
Total
|
|
Three-Month Period
Ended
September 30, 2015
|
% of
Total
|
|
RMB
|
US$
|
|
|
RMB
|
|
Stamping and transfer
film
|
23,715
|
3,555
|
38.4%
|
|
26,156
|
39.8%
|
Printing
film
|
7,173
|
1,076
|
11.7%
|
|
8,196
|
12.5%
|
Metallization
film
|
1,634
|
245
|
2.7%
|
|
3,624
|
5.5%
|
Specialty
film
|
22,666
|
3,399
|
36.8%
|
|
18,710
|
28.5%
|
Base film for other
application
|
6,373
|
956
|
10.4%
|
|
8,984
|
13.7%
|
|
|
|
|
|
|
|
|
61,560
|
9,231
|
100.0%
|
|
65,670
|
100.0%
|
Overseas sales were RMB11.4
million or US$1.7 million, or
18.4% of total revenues, compared with RMB16.1 million or 24.5% of total revenues in the
third quarter of 2015. This is a decrease of RMB4.7 million. The decrease in average sales
price caused a decrease of RMB1.4
million and the decrease in sales volume resulted in a
decrease of RMB3.3 million.
The following is a breakdown of PRC domestic and overseas sales
(amounts in thousands):
|
|
Three-Month Period
Ended
September 30, 2016
|
% of
Total
|
Three-Month Period
Ended
September 30, 2015
|
% of
Total
|
|
|
RMB
|
US$
|
|
RMB
|
|
Sales in
China
|
|
50,205
|
7,528
|
81.6%
|
49,568
|
75.5%
|
Sales in other
countries
|
|
11,355
|
1,703
|
18.4%
|
16,102
|
24.5%
|
|
|
|
|
|
|
|
|
|
61,560
|
9,231
|
100.0%
|
65,670
|
100.0%
|
Our gross profit was RMB1.1
million or US$0.2 million for
the third quarter ended September 30,
2016, representing a gross profit rate of 1.7%, as compared
to a gross profit rate of 5.8% for the same period in 2015.
Correspondingly, gross profit rate decreased by 4.1 percent
compared to the same period in 2015 mainly due to the reduction of
average sales price.
Operating expenses for the third quarter ended September 30, 2016 were RMB12.7 million or US$1.9
million, which was RMB1.8
million, or 12.4% lower than the same period in 2015. This
decrease was mainly due to decreased expenses on research and
development.
Net loss attributable to the Company during the third quarter
ended September 30, 2016 was
RMB13.4 million or US$2.0 million compared to net loss attributable
to the Company of RMB12.3 million
during the same period in 2015, representing an increase in loss of
RMB1.1 million compared with the same
period in 2015.
Basic and diluted net loss per share was RMB1.03 or US$0.15and RMB0.94
for the three-month period ended September
30, 2016and 2015, respectively.
Total shareholders' equity was RMB283.9million or US$42.6million as of September 30, 2016, compared with RMB319.7million as of December 31, 2015.
As of September 30, 2016, the
Company had 13,062,500 basic and diluted total ordinary shares
outstanding.
Nine Months 2016 Results
Net sales during the nine-month period ended September 30, 2016 were RMB183.0 million or US$27.4 million, compared to RMB185.2 million, during the same period in 2015,
representing a decrease of RMB2.2
million or 1.2%, mainly due to the reduction of average
sales price by 4.8% arising from stronger competition in
China together with a reduction in
prices of main raw materials.
In the nine-month period ended September
30, 2016, sales of specialty films were RMB68.0 million or US$10.2
million or 37.1% of our total revenues as compared to
RMB55.0 million or 29.7% in the same
period of 2015, which was an increase of RMB13.0 million, or 23.6%as compared to the same
period in 2015. The reduction of average sales price caused a
decrease of RMB2.3 million and the
increase in the sales volume caused an increase of RMB15.3 million.
Overseas sales during the nine months ended September 30, 2016 were RMB35.1 million or US$5.3
million, or 19.2% of total revenues, compared with
RMB44.3 million or 23.9% of total
revenues in the same period in 2015. This was RMB9.2 million lower than the same period in
2015. The reduction in sales volume resulted in a decrease of
RMB5.7 million and the decrease of
average sales price caused a decrease of RMB3.5 million.
The following is a breakdown of PRC domestic and overseas sales
(amounts in thousands):
|
|
Nine-Month Period
Ended
September 30, 2016
|
% of
Total
|
Nine-Month Period
Ended
September 30, 2015
|
% of
Total
|
|
|
RMB
|
US$
|
|
RMB
|
|
Sales in
China
|
|
147,944
|
22,185
|
80.8%
|
140,853
|
76.1%
|
Sales in other
countries
|
|
35,079
|
5,261
|
19.2%
|
44,302
|
23.9%
|
|
|
|
|
|
|
|
|
|
183,023
|
27,446
|
100.0%
|
185,155
|
100.0%
|
Our gross profit was RMB12.3
million or US$1.8 million for
the first nine months ended September 30,
2016, representing a gross profit rate of 6.7%, as compared
to a gross loss rate of 2.0% for the same period in 2015.
Correspondingly, gross profit rate increased by 8.7 percentage
points. Our average product sales prices decreased by 4.8% compared
to the same period last year while the average cost of goods sold
decreased by 12.9% compared to the same period last year.
Consequently, the amount of decrease in cost of goods sold was
higher than that in sales revenue during the nine months ended
September 30, 2016 compared with the
same period in 2015, which resulted in an increase in our gross
profit.
Operating expenses for the nine months ended September 30, 2016 were RMB42.2 million or US$6.3
million, compared to RMB36.4
million in the same period in 2015, which was RMB5.8 million or 15.9% higher than the same
period in 2015. This increase is mainly due to depreciation charged
to general and administrative expenses in the accounting period in
which they are incurred as a result of lack of manufacturing from
the third production line since April
2015 and increased allowance for doubtful accounts
receivable.
On November 23, 2016, we announced
receipt of a letter from Nasdaq Stock Market stating that since we
have not regained compliance with Listing Rule 5550(a)(2) regarding
our bid price, our ordinary shares will be delisted from the Nasdaq
Capital Market. The letter further stated that unless we request an
appeal of the staff's determination, trading of our ordinary shares
will be suspended at the opening of business on December 1, 2016. We have appealed the staff's
determination to a Hearing Panel (the "Panel")." A hearing request
will stay the suspension of our ordinary shares pending the Panel's
decision.
Conference Call Information
The Company will host a teleconference on Tuesday, November
29, 2016, at 8:00 a.m. EST / 9:00
p.m. Beijing time to discuss the financial results. To
participate in the call, please dial +1-877-407-9205 in North
America, or +1-201-689-8054 internationally, approximately 10
minutes prior to the scheduled start time.
A replay of the call can also be accessed via telephone by
calling +1-877-481-4010 in North America, or +1-919-882-2331
internationally, and entering the following Conference ID: 10160.
The replay will be available until December 29, 2016,
at 11:59 p.m. EST.
About Fuwei Films
Fuwei Films conducts its business through its wholly owned
subsidiary, Fuwei Films (Shandong)
Co., Ltd. ("Shandong Fuwei"). Shandong Fuwei develops, manufactures
and distributes high-quality plastic films using the biaxial
oriented stretch technique, otherwise known as BOPET film
(biaxially oriented polyethylene terephthalate). Fuwei's BOPET film
is widely used to package food, medicine, cosmetics, tobacco, and
alcohol, as well as in the imaging, electronics, and magnetic
products industries.
Safe Harbor
This press release contains information that constitutes
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
and are subject to risks. Risk factors that could contribute to
such differences include those matters more fully disclosed in the
Company's reports filed with the U.S. Securities and Exchange
Commission which, among other things, include both the possible
delisting of the Company's ordinary shares from the NASDAQ Global
Market; significant competition in the BOPET film industry,
especially the significant oversupply of BOPET films resulting from
the rapid growth of the Chinese BOPET industry capacity, changes in
the international market and trade barriers, especially the adverse
impact of the antidumping investigation and imposition of an
anti-dumping duty on imports of the BOPET films originating from
the People's Republic of China
("China") conducted by certain
main importing countries; fluctuations of RMB exchange rate, the
reduce in demand for the Company's products or the loss of main
customers which may result in the decrease of sales, and negatively
influencing the Company's financial performance, uncertainty as to
the future profitability, uncertainty as to the Company's ability
to successfully obtain additional funds to meet the working capital
needs of the new BOPET production line, uncertainty as to the
Company's ability to continuously develop new BOPET film products
to be produced by the third production line and keep up with
changes in BOPET film technology, risks associated with possible
defects and errors in its products including complaints and claims
from clients, uncertainty as to its ability to protect and enforce
its intellectual property rights, uncertainty as to its ability to
attract and retain qualified executives and personnel, and
uncertainty in acquiring raw materials on time and on acceptable
terms, particularly in light of the volatility in the prices of
petroleum products in recent years, instability of power and energy
supply, and the uncertainty regarding the future operation of the
Company in connection with the changes in the labor law in
China, the measures taken by the
Chinese government to save energy and reduce emissions, and the
complaints from nearby residents and local government about the
noise caused by our production as well as the uncertainty of the
impact of major shareholder transfer that have substantial
influence over the Company and the Company's business operation
including possible overlap of our BOPET products, customers and
market orientation with an BOPET film manufacturer, which is
controlled by the same individual who has control over the shares
of our major shareholder. The forward-looking information provided
herein represents the Company's estimates as of the date of the
press release, and subsequent events and developments may cause the
Company's estimates to change. The Company specifically disclaims
any obligation to update the forward-looking information in the
future. Therefore, this forward-looking information should not be
relied upon as representing the Company's estimates of its future
financial performance as of any date subsequent to the date of this
press release. Actual results of our operations may differ
materially from information contained in the forward-looking
statements as a result of the risk factors.
For more information, please contact:
In China:
Ms. Xiaoli Yu
Investor Relations Officer
Phone: +86-133-615-59266
Email: fuweiIR@fuweifilms.com
In the U.S.:
Ms. Vivian Chen
Investor Relations
CitigateDeweRogerson
Phone: +1-646-284-9427
Email: vivian.chen@citigatedr.com
Financial Tables to Follow
FUWEI FILMS
(HOLDINGS) CO., LTD. AND SUBSIDIARIES
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
AS OF SEPTEMBER
30, 2016 AND DECEMBER 31, 2015
|
(amounts in thousands
except share and per share value)
|
(Unaudited)
|
|
|
|
September 30,
2016
|
|
December 31,
2015
|
|
RMB
|
US$
|
|
RMB
|
ASSETS
|
Current
assets
|
|
|
|
|
|
Cash and cash
equivalents
|
|
15,679
|
2,351
|
|
14,355
|
Restricted
cash
|
|
70,741
|
10,608
|
|
43,215
|
Accounts and bills
receivable, net
|
|
22,595
|
3,388
|
|
10,046
|
Inventories
|
|
26,832
|
4,024
|
|
29,574
|
Advance to
suppliers
|
|
8,220
|
1,233
|
|
5,640
|
Prepayments and other
receivables
|
|
9,303
|
1,395
|
|
20,334
|
Deferred tax assets -
current
|
|
1,799
|
270
|
|
1,438
|
Total current
assets
|
|
155,169
|
23,269
|
|
124,602
|
|
|
|
|
|
|
Property, plant and
equipment, net
|
|
421,571
|
63,218
|
|
431,021
|
Construction in
progress
|
|
407
|
61
|
|
1,700
|
Lease prepayments,
net
|
|
17,488
|
2,622
|
|
17,882
|
Advance to suppliers
- long term, net
|
|
1,918
|
288
|
|
1,440
|
Long-term
deposit
|
|
-
|
-
|
|
-
|
Other
Assets
|
|
-
|
-
|
|
11,607
|
Deferred tax assets -
non current
|
|
15,342
|
2,301
|
|
15,519
|
|
|
|
|
|
|
Total
assets
|
|
611,895
|
91,759
|
|
603,771
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
Current
liabilities
|
|
|
|
|
|
Short-term
borrowings
|
|
45,000
|
6,748
|
|
-
|
Long-term loan,
current portion
|
|
3,350
|
502
|
|
3,350
|
Due to related
parties
|
|
120,680
|
18,097
|
|
143,080
|
Accounts
payables
|
|
33,299
|
4,993
|
|
32,760
|
Notes
payable
|
|
109,833
|
16,470
|
|
85,780
|
Advance from
customers
|
|
2,617
|
392
|
|
2,247
|
Accrued expenses and
other payables
|
|
7,321
|
1,098
|
|
8,682
|
Obligations under
capital leases-current
|
|
-
|
-
|
|
302
|
Total current
liabilities
|
|
322,100
|
48,300
|
|
276,201
|
|
|
|
|
|
|
Long-term
loan
|
|
1,625
|
244
|
|
3,300
|
Deferred tax
liabilities
|
|
5,098
|
764
|
|
5,406
|
|
|
|
|
|
|
Total
liabilities
|
|
328,823
|
49,308
|
|
284,907
|
|
|
|
|
|
|
Equity
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
Registered capital(of
US$0.129752 par value;
20,000,000 shares authorized; 13,062,500 issued and
outstanding)
|
|
13,323
|
1,998
|
|
13,323
|
Additional paid-in
capital
|
|
311,907
|
46,773
|
|
311,907
|
Statutory
reserve
|
|
37,441
|
5,615
|
|
37,441
|
Retained
earnings
|
|
(79,702)
|
(11,952)
|
|
(44,022)
|
Cumulative
translation adjustment
|
|
961
|
146
|
|
1,049
|
Total
shareholders' equity
|
|
283,930
|
42,580
|
|
319,698
|
Non-controlling
interest
|
|
(858)
|
(129)
|
|
(834)
|
Total
equity
|
|
283,072
|
42,451
|
|
318,864
|
Total liabilities
and equity
|
|
611,895
|
91,759
|
|
603,771
|
FUWEI FILMS
(HOLDINGS) CO., LTD. AND SUBSIDIARIES
|
CONDENSED
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(LOSS)
|
FOR THE THREE- AND
NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2016 AND 2015
|
(amounts in thousands
except share and per share value)
|
(Unaudited)
|
|
|
|
The Three-Month
Period Ended
September 30,
|
|
The Nine-Month
Period Ended
September 30,
|
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
RMB
|
US$
|
|
RMB
|
|
RMB
|
US$
|
|
RMB
|
Net sales
|
|
61,560
|
9,231
|
|
65,670
|
|
183,023
|
27,446
|
|
185,155
|
Cost of
sales
|
|
60,504
|
9,073
|
|
61,876
|
|
170,752
|
25,606
|
|
188,899
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
(loss)
|
|
1,056
|
158
|
|
3,794
|
|
12,271
|
1,840
|
|
(3,744)
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses
|
|
|
|
|
|
|
|
|
|
|
Selling
expenses
|
|
3,193
|
479
|
|
3,771
|
|
9,482
|
1,422
|
|
10,124
|
Administrative
expenses
|
|
9,497
|
1,424
|
|
10,774
|
|
32,694
|
4,903
|
|
26,264
|
Total operating
expenses
|
|
12,690
|
1,903
|
|
14,545
|
|
42,176
|
6,325
|
|
36,388
|
|
|
|
|
|
|
|
|
|
|
|
Operating
loss
|
|
(11,634)
|
(1,745)
|
|
(10,751)
|
|
(29,905)
|
(4,485)
|
|
(40,132)
|
|
|
|
|
|
|
|
|
|
|
|
Other income
(expense)
|
|
|
|
|
|
|
|
|
|
|
- Interest
income
|
|
200
|
30
|
|
207
|
|
552
|
83
|
|
945
|
- Interest
expense
|
|
(2,030)
|
(304)
|
|
(2,145)
|
|
(5,491)
|
(823)
|
|
(6,558)
|
- Others income
(expense), net
|
|
26
|
4
|
|
530
|
|
(1,328)
|
(199)
|
|
4,982
|
|
|
|
|
|
|
|
|
|
|
|
Total other
expense
|
|
(1,804)
|
(270)
|
|
(1,408)
|
|
(6,267)
|
(939)
|
|
(631)
|
|
|
|
|
|
|
|
|
|
|
|
Loss before provision
for income
taxes
|
|
(13,438)
|
(2,015)
|
|
(12,159)
|
|
(36,172)
|
(5,424)
|
|
(40,763)
|
|
|
|
|
|
|
|
|
|
|
|
Income tax benefit
(expense)
|
|
10
|
1
|
|
(97)
|
|
492
|
74
|
|
(1,141)
|
|
|
|
|
|
|
|
|
|
|
|
Net
loss
|
|
(13,428)
|
(2,014)
|
|
(12,256)
|
|
(35,680)
|
(5,350)
|
|
(41,904)
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable
to
non-controlling interests
|
|
-
|
-
|
|
(3)
|
|
-
|
-
|
|
(3)
|
Net loss attributable
to the
Company
|
|
(13,428)
|
(2,014)
|
|
(12,253)
|
|
(35,680)
|
(5,350)
|
|
(41,901)
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive
income
(loss)
|
|
|
|
|
|
|
|
|
|
|
- Foreign currency
translation
adjustments attributable to
non-controlling interest
|
|
(2)
|
-
|
|
(21)
|
|
(24)
|
(4)
|
|
(21)
|
- Foreign currency
translation
adjustments attributable to the
Company
|
|
(9)
|
(1)
|
|
(55)
|
|
(88)
|
(13)
|
|
(104)
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive loss
attributable to
non-controlling interest
|
|
(2)
|
-
|
|
(24)
|
|
(24)
|
(4)
|
|
(24)
|
Comprehensive loss
attributable to
the Company
|
|
(13,437)
|
(2,015)
|
|
(12,308)
|
|
(35,768)
|
(5,363)
|
|
(42,005)
|
|
|
|
|
|
|
|
|
|
|
|
Loss per share,
Basic and diluted
|
|
(1.03)
|
(0.15)
|
|
(0.94)
|
|
(2.73)
|
(0.41)
|
|
(3.21)
|
Weighted average
number
ordinary shares,
Basic and diluted
|
|
13,062,500
|
13,062,500
|
|
13,062,500
|
|
13,062,500
|
13,062,500
|
|
13,062,500
|
|
|
|
|
|
|
|
|
|
|
|
|
FUWEI FILMS
(HOLDINGS) CO., LTD. AND SUBSIDIARIES
|
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
FOR THE NINE-MONTH
PERIODS ENDED SEPTEMBER 30, 2016 AND 2015
|
(amounts in thousands
except share and per share value)
|
(Unaudited)
|
|
|
|
The Nine-Month
Period Ended September 30,
|
|
|
2016
|
|
2015
|
|
|
RMB
|
US$
|
|
RMB
|
Cash flow from
operating activities
|
|
|
|
|
|
Net loss
|
|
(35,680)
|
(5,351)
|
|
(41,904)
|
Adjustments to
reconcile net loss to net cash used in operating
activities
|
|
|
|
|
|
- Depreciation of
property, plant and equipment
|
|
32,122
|
4,817
|
|
33,659
|
- Amortization of
intangible assets
|
|
393
|
59
|
|
393
|
- Deferred income
taxes
|
|
(492)
|
(74)
|
|
1,141
|
- Bad debt (recovery)
expense
|
|
1,670
|
250
|
|
(4,309)
|
-Inventory
provision
|
|
(226)
|
(34)
|
|
-
|
Changes in operating
assets and liabilities
|
|
|
|
|
|
- Accounts and bills
receivable
|
|
(14,219)
|
(2,132)
|
|
(3,350)
|
-
Inventories
|
|
2,968
|
445
|
|
(10,655)
|
- Advance to
suppliers
|
|
(2,580)
|
(387)
|
|
(1,520)
|
- Prepaid expenses and
other current assets
|
|
79
|
12
|
|
(1,140)
|
- Accounts
payable
|
|
540
|
81
|
|
3,025
|
- Accrued expenses and
other payables
|
|
(1,450)
|
(217)
|
|
1,980
|
- Advance from
customers
|
|
370
|
55
|
|
1,704
|
- Tax
payable
|
|
10,952
|
1,642
|
|
(1,401)
|
|
|
|
|
|
|
Net cash used in
operating activities
|
|
(5,553)
|
(834)
|
|
(22,377)
|
|
|
|
|
|
|
Cash flow from
investing activities
|
|
|
|
|
|
Purchases of
property, plant and equipment
|
|
(11,064)
|
(1,659)
|
|
(233)
|
Restricted cash
related to trade finance
|
|
(27,521)
|
(4,127)
|
|
(2,455)
|
Advance to suppliers
- non current
|
|
(478)
|
(72)
|
|
(376)
|
Amount change in
construction in progress
|
|
1,293
|
194
|
|
(923)
|
Refund of long-term
deposit
|
|
-
|
-
|
|
21,000
|
|
|
|
|
|
|
Net cash provided by
(used in) investing activities
|
|
(37,770)
|
(5,664)
|
|
17,013
|
|
|
|
|
|
|
Cash flow from
financing activities
|
|
|
|
|
|
Principal payments of
bank loans
|
|
(1,675)
|
(251)
|
|
(1,675)
|
Proceeds from
short-term bank loans
|
|
45,000
|
6,748
|
|
-
|
Proceeds from related
party
|
|
(22,401)
|
(3,359)
|
|
15,510
|
Payment of capital
lease obligation
|
|
(302)
|
(45)
|
|
(6,602)
|
Change in notes
payable
|
|
24,053
|
3,607
|
|
2,727
|
|
|
|
|
|
|
Net cash provided by
financing activities
|
|
44,675
|
6,700
|
|
9,960
|
|
|
|
|
|
|
Effect of foreign
exchange rate changes
|
|
(28)
|
(67)
|
|
(47)
|
|
|
|
|
|
|
Net increase
(decrease) in cash and cash equivalent
|
|
1,324
|
135
|
|
4,549
|
|
|
|
|
|
|
Cash and cash
equivalent
|
|
|
|
|
|
At beginning of
period/year
|
|
14,355
|
2,216
|
|
9,020
|
At end of
period/year
|
|
15,679
|
2,351
|
|
13,569
|
|
|
|
|
|
|
SUPPLEMENTARY
DISCLOSURE:
|
|
|
|
|
|
Interest
paid
|
|
5,491
|
823
|
|
6,558
|
Income tax
paid
|
|
-
|
-
|
|
-
|
|
|
|
|
|
|
SUPPLEMENTARY
SCHEDULE OF NONCASH INVESTING AND FINANCIAL
ACTIVITIES:
|
Account payable for
plant and equipment:
|
|
2,172
|
326
|
|
2,237
|
Obligations for
acquired equipment under capital lease:
|
|
-
|
-
|
|
1,960
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/fuwei-films-announces-its-unaudited-financial-results-for-the-third-quarter-of-2016-300368765.html
SOURCE Fuwei Films (Holdings) Co., Ltd.