BEIJING, Sept. 3, 2020 /PRNewswire/ -- 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 second quarter of
2020 ended June 30, 2020.
Second Quarter 2020 Financial Highlights
- Net sales during the second quarter ended June 30, 2020 were RMB82.9
million (US$11.7 million),
compared to RMB88.1 million during
the same period in 2019.
- Sales of specialty films were RMB48.1
million (US$6.8 million) or
58.0% of our total revenues as compared to RMB42.0 million or 47.6% in the same period of
2019, which was an increase of RMB6.1
million, or 14.5% year-over-year.
- Overseas sales were RMB7.5
million (US$1.1 million), or
9.1% of total revenues, compared with RMB14.3 million in the second quarter of
2019.
- Gross profit was RMB34.4 million
(US$4.9 million) for the second
quarter ended June 30, 2020,
representing a gross profit rate of 41.6%, as compared to a gross
profit rate of 21.1% for the same period in 2019.
- Net profit attributable to the Company was RMB14.1 million (US$2.0
million) while net profit attributable to the Company was
RMB1.0 million during the same period
in 2019.
First Six Months 2020 Financial Highlights
- Net sales were RMB166.1 million
(US$23.5 million), compared to
RMB169.2 million in the same period
in 2019.
- Sales of specialty films were RMB88.0
million (US$12.5 million) or
53.0% of our total revenues as compared to RMB74.2 million or 43.8% in the same period of
2019, which was an increase of RMB13.8
million, or 18.6% year-over-year.
- Overseas sales were RMB13.3
million or US$1.9 million, or
8.0% of total revenues.
- Gross profit was RMB64.2 million
(US$9.1 million), representing a
gross margin rate of 38.7%, as compared to a gross margin rate of
18.3% for the same period in 2019.
- Net profit attributable to the Company was RMB27.0 million (US$3.8
million) while net loss attributable to the Company was
RMB2.4 million during the same period
in 2019.
Mr. Lei Yan, Chairman and CEO of Fuwei Films, commented,
"Despite the oversupply in the marketplace and the outbreak of
COVID-19 pandemic which has caused significant and adverse effects
on the global economy, we achieved positive trends in our mix
of sales, especially sales of specialty films which accounted for
58% of our total revenues. In addition, we achieved net profit for
five consecutive quarters. We believe these results benefit from
our commitment to innovation and differentiated marketing strategy
which have expanded the end-user applications of our films
products. We will continue with these efforts and expect that they
will enable the Company to capitalize on new opportunities despite
challenging industry and economic conditions."
Second Quarter 2020 Results
Net sales during the second quarter ended June 30, 2020 were RMB82.9
million (US$11.7 million),
compared to RMB88.1 million during
the same period in 2019. The decrease of average sales price caused
a decrease of RMB3.6 million and
lower sales volume caused a decrease of RMB1.6 million.
In the second quarter of 2020, sales of specialty films were
RMB48.1 million (US$6.8 million) or 58.0% of our total revenues as
compared to RMB42.0 million or 47.6%
in the same period of 2019, which was an increase of RMB6.1 million, or 14.5% year-over-year. The
increase of sales volume caused an increase of RMB8.9 million and the decrease in the average
sales price caused a decrease of RMB2.8
million.
The following is a breakdown of commodity and specialty film
sales (amounts in thousands):
|
Three-Month
Period
Ended
June 30, 2020
|
% of
Total
|
|
Three-Month
Period
Ended
June 30, 2019
|
% of
Total
|
|
RMB
|
US$
|
|
|
RMB
|
|
Stamping and transfer
film
|
25,885
|
3,665
|
31.3%
|
|
28,596
|
32.4%
|
Printing
film
|
5,746
|
813
|
6.9%
|
|
8,512
|
9.7%
|
Metallization
film
|
1,159
|
164
|
1.4%
|
|
1,938
|
2.2%
|
Specialty
film
|
48,088
|
6,806
|
58.0%
|
|
41,958
|
47.6%
|
Base film for
other
application
|
1,978
|
280
|
2.4%
|
|
7,113
|
8.1%
|
|
|
|
|
|
|
|
|
82,856
|
11,728
|
100.0%
|
|
88,117
|
100.0%
|
Overseas sales were RMB7.5 million
or US$1.1 million, or 9.1% of total
revenues, compared with RMB14.3
million or 16.3% of total revenues in the second quarter of
2019. The increase of average sales price caused an increase of
RMB0.5 million and the decrease in
sales volume resulted in a decrease of RMB7.3 million.
The following is a breakdown of PRC domestic and overseas sales
(amounts in thousands):
|
|
Three-Month
Period
Ended
June 30, 2020
|
% of Total
|
Three-Month
Period
Ended
June 30, 2019
|
% of Total
|
|
|
RMB
|
US$
|
|
RMB
|
|
Sales in
China
|
|
75,334
|
10,663
|
90.9%
|
73,777
|
83.7%
|
Sales in other
countries
|
|
7,522
|
1,065
|
9.1%
|
14,340
|
16.3%
|
|
|
|
|
|
|
|
|
|
82,856
|
11,728
|
100.0%
|
88,117
|
100.0%
|
Gross profit was RMB34.4 million
(US$4.9 million) for the second
quarter ended June 30, 2020,
representing a gross profit rate of 41.6%, as compared to a gross
profit rate of 21.1% for the same period in 2019. Correspondingly,
gross profit rate increased by 20.5 percentage point compared to
the same period in 2019. Our average product sales prices decreased
by 4.2% compared to the same period last year while the average
cost of goods sold decreased by 29.0% due to the decrease in raw
materials cost. Consequently, it resulted in an increase in our
gross profit.
Operating expenses for the second quarter ended June 30, 2020 were RMB18.7
million (US$2.7 million), as
compared to RMB15.0 million for the
same period in 2019. The increase was mainly due to the change of
accounting estimate which caused the increase of accrual
depreciation of the third production line.
Net profit attributable to the Company during the second quarter
ended June 30, 2020 was RMB14.1 million (US$2.0
million) while net profit attributable to the Company was
RMB1.0 million during the same period
in 2019.
Financial Results for the Six Months Ended June 30, 2020
Net sales during the six-month period ended June 30, 2020 were RMB166.1 million (US$23.5
million), compared to RMB169.2
million in the same period in 2019. The increase in average
sales price caused an increase of RMB0.7
million and the decrease in the sales volume caused a
decrease of RMB3.8 million.
In the six-month period ended June 30, 2020, sales of
specialty films were RMB88.0 million
(US$12.5 million) or 53.0% of our
total revenues as compared to RMB74.2
million or 43.8% in the same period of 2019, which was an
increase of RMB13.8 million, or 18.6%
year-over-year. The increase in sales volume caused an increase of
RMB17.7 million and the decrease in
the average sales price caused a decrease of RMB3.9 million.
The following is a breakdown of commodity and specialty film
sales (amounts in thousands):
|
Six-Month Period
Ended
June 30, 2020
|
% of
Total
|
|
Six-Month Period
Ended
June 30, 2019
|
% of
Total
|
|
RMB
|
US$
|
|
|
RMB
|
|
Stamping and transfer
film
|
60,406
|
8,548
|
36.3%
|
|
60,123
|
35.6%
|
Printing
film
|
11,591
|
1,641
|
7.0%
|
|
20,732
|
12.3%
|
Metallization
film
|
2,661
|
377
|
1.6%
|
|
2,614
|
1.5%
|
Specialty
film
|
87,965
|
12,451
|
53.0%
|
|
74,154
|
43.8%
|
Base film for
other
application
|
3,466
|
491
|
2.1%
|
|
11,568
|
6.8%
|
|
|
|
|
|
|
|
|
166,089
|
23,508
|
100.0%
|
|
169,191
|
100.0%
|
Overseas sales during the six months ended June 30, 2020 were RMB13.3 million (US$1.9
million), or 8.0% of total revenues, compared with
RMB30.6 million or 18.1% of total
revenues in the same period in 2019. The decrease in sales volume
resulted in a decrease of RMB18.2
million and was mainly due to the antidumping measures while
higher average sales price caused an increase of RMB0.9 million.
The following is a breakdown of PRC domestic and overseas sales
(amounts in thousands):
|
|
Six-Month Period
Ended
June 30, 2020
|
% of Total
|
Six-Month Period
Ended
June 30, 2019
|
% of Total
|
|
|
RMB
|
US$
|
|
RMB
|
|
Sales in
China
|
|
152,783
|
21,625
|
92.0%
|
138,631
|
81.9%
|
Sales in other
countries
|
|
13,306
|
1,883
|
8.0%
|
30,560
|
18.1%
|
|
|
|
|
|
|
|
|
|
166,089
|
23,508
|
100.0%
|
169,191
|
100.0%
|
Our gross profit was RMB64.2
million (US$9.1 million) for
the first six months ended June 30,
2020, representing a gross margin rate of 38.7%, as compared
to a gross margin rate of 18.3% for the same period in 2019.
Correspondingly, gross margin rate increased by 20.4 percentage
points. Our average product sales prices increased by 0.4% compared
to the same period last year while the average cost of goods sold
decreased by 24.6%. Consequently, it resulted in an increase in our
gross margin.
Operating expenses for the six months ended June 30, 2020 were RMB33.8
million (US$4.8 million),
compared to RMB28.5 million in the
same period in 2019. This increase was mainly due to the change of
accounting estimate which caused the increase of accrual
depreciation of the third production line.
Net income attributable to the Company during the first half of
2020 was RMB27.0 million
(US$3.8 million) compared to net loss
attributable to the Company of RMB2.4
million during the same period in 2019, representing an
increase of RMB29.4 million from the
same period in 2019 due to the factors described above.
Cash, cash equivalent and restricted cash totaled RMB81.3 million (US$11.5
million) as of June 30, 2020.
Total shareholders' equity was RMB235.2
million (US$33.3 million).
As of June 30, 2020, the Company
had 3,265,837 basic and diluted total ordinary shares
outstanding.
Conference Call Information
The Company will host a teleconference on Friday, September 4, 2020, at 9:00 a.m. ET / 9:00
p.m. Beijing time to
discuss the financial results. To participate in the call, please
dial +1-844-369-8770 in North
America, or +1-862-298-0840 internationally, approximately 5
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: 36765. The replay will be available
until September 18, 2020.
About Fuwei Films
Fuwei Films conducts its business through its wholly owned
subsidiary, Fuwei Films (Shandong)
Co., Ltd. ("Fuwei Shandong"). Fuwei Shandong 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 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 uncertainty 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 countries;
uncertainty around coronavirus (COVID-19) outbreak and the effects
of government and other measures seeking to contain its spread,
uncertainty around U.S.-China
trade war and its effect on the Company's operation, fluctuations
of the RMB exchange rate, and our ability to obtain adequate
financing for our planned capital expenditure requirements;
uncertainty as to our ability to continuously develop new BOPET
film products and keep up with changes in BOPET film technology;
risks associated with possible defects and errors in our products;
uncertainty as to our ability to protect and enforce our
intellectual property rights; uncertainty as to our ability to
attract and retain qualified executives and personnel; and
uncertainty in acquiring raw materials on time and on acceptable
terms, particularly in view of the volatility in the prices of
petroleum products in recent years. 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.:
Shiwei Yin
Investor Relations
Grayling
Phone: +1-646-284-9474
Email: shiwei.yin@grayling.com
Financial Tables to Follow
FUWEI FILMS
(HOLDINGS) CO., LTD. AND SUBSIDIARIES
CONDENSED
CONSOLIDATED BALANCE SHEETS
AS OF JUNE 30,
2020 AND DECEMBER 31, 2019
(amounts in thousands
except share and per share value)
(Unaudited)
|
|
|
|
June 30,
2020
|
|
December 31,
2019
|
|
RMB
|
US$
|
|
RMB
|
ASSETS
|
Current
assets
|
|
|
|
|
|
Cash and cash
equivalents
|
|
76,318
|
10,802
|
|
60,871
|
Restricted
cash
|
|
5,000
|
708
|
|
25,500
|
Accounts and bills
receivable, net
|
|
41,829
|
5,921
|
|
26,960
|
Inventories
|
|
26,107
|
3,695
|
|
23,584
|
Advance to
suppliers
|
|
8,852
|
1,253
|
|
6,277
|
Prepayments and other
receivables
|
|
1,156
|
164
|
|
1,058
|
Deferred tax assets -
current
|
|
1,290
|
183
|
|
1,266
|
Total current
assets
|
|
160,552
|
22,726
|
|
145,516
|
|
|
|
|
|
|
Property, plant and
equipment, net
|
|
285,888
|
40,465
|
|
302,642
|
Construction in
progress
|
|
999
|
141
|
|
-
|
Lease prepayments,
net
|
|
15,485
|
2,192
|
|
15,762
|
Advance to suppliers
- long term, net
|
|
1,542
|
218
|
|
1,542
|
Deferred tax assets -
non current
|
|
439
|
62
|
|
509
|
|
|
|
|
|
|
Total
assets
|
|
464,905
|
65,804
|
|
465,971
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
Current
liabilities
|
|
|
|
|
|
Short-term
borrowings
|
|
65,000
|
9,200
|
|
65,000
|
Due to related
parties
|
|
-
|
-
|
|
119,297
|
Accounts
payables
|
|
20,711
|
2,931
|
|
19,532
|
Notes
payable
|
|
10,000
|
1,415
|
|
41,000
|
Advance from
customers
|
|
4,411
|
624
|
|
5,204
|
Accrued expenses and
other payables
|
127,414
|
18,034
|
|
5,454
|
Total current
liabilities
|
|
227,536
|
32,204
|
|
255,487
|
|
|
|
|
|
|
Deferred tax
liabilities
|
|
2,163
|
306
|
|
2,290
|
|
|
|
|
|
|
Total
liabilities
|
|
229,699
|
32,510
|
|
257,777
|
|
|
|
|
|
|
Equity
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
Registered capital
(of US$0.519008 par value; 5,000,000 shares
authorized; 3,265,837 issued and outstanding)
|
|
13,323
|
1,886
|
|
13,323
|
Additional paid-in
capital
|
|
311,907
|
44,148
|
|
311,907
|
Statutory
reserve
|
|
37,441
|
5,299
|
|
37,441
|
Accumulated
deficit
|
|
(128,305)
|
(18,160)
|
|
(155,317)
|
Cumulative
translation adjustment
|
|
840
|
121
|
|
840
|
Total
shareholders' equity
|
|
235,206
|
33,294
|
|
208,194
|
Total
equity
|
|
235,206
|
33,294
|
|
208,194
|
Total liabilities
and equity
|
|
464,905
|
65,804
|
|
465,971
|
FUWEI FILMS
(HOLDINGS) CO., LTD. AND SUBSIDIARIES
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(LOSS)
FOR THE THREE- AND
SIX-MONTH PERIODS ENDED JUNE 30, 2020 AND 2019
(amounts in thousands
except share and per share value)
(Unaudited)
|
|
|
|
|
|
|
|
The Three-Month
Period Ended June 30,
|
|
The Six-Month
Period Ended June 30,
|
|
|
2020
|
|
2019
|
|
2020
|
|
2019
|
|
RMB
|
US$
|
|
RMB
|
|
RMB
|
US$
|
|
RMB
|
Net sales
|
|
82,856
|
11,728
|
|
88,117
|
|
166,089
|
23,508
|
|
169,191
|
Cost of
sales
|
|
48,421
|
6,854
|
|
69,488
|
|
101,895
|
14,422
|
|
138,158
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
34,435
|
4,874
|
|
18,629
|
|
64,194
|
9,086
|
|
31,033
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses
|
|
|
|
|
|
|
|
|
|
|
Selling
expenses
|
|
3,372
|
477
|
|
3,537
|
|
7,458
|
1,056
|
|
6,501
|
Administrative
expenses
|
|
15,368
|
2,175
|
|
11,453
|
|
26,323
|
3,726
|
|
22,030
|
Total operating
expenses
|
|
18,740
|
2,652
|
|
14,990
|
|
33,781
|
4,782
|
|
28,531
|
|
|
|
|
|
|
|
|
|
|
|
Operating
income
|
|
15,695
|
2,222
|
|
3,639
|
|
30,413
|
4,304
|
|
2,502
|
|
|
|
|
|
|
|
|
|
|
|
Other income
(expense)
|
|
|
|
|
|
|
|
|
|
|
- Interest
income
|
|
567
|
80
|
|
202
|
|
857
|
121
|
|
416
|
- Interest
expense
|
|
(2,241)
|
(317)
|
|
(2,244)
|
|
(4,457)
|
(631)
|
|
(4,435)
|
- Others income
(expense), net
|
|
49
|
7
|
|
(630)
|
|
118
|
17
|
|
(872)
|
Total other
expenses
|
|
(1,625)
|
(230)
|
|
(2,672)
|
|
(3,482)
|
(493)
|
|
(4,891)
|
|
|
|
|
|
|
|
|
|
|
|
Income(loss)
before
provision for income
taxes
|
|
14,070
|
1,992
|
|
967
|
|
26,931
|
3,811
|
|
(2,389)
|
Income tax
benefit
(expense)
|
|
(13)
|
(2)
|
|
(16)
|
|
81
|
11
|
|
(33)
|
|
|
|
|
|
|
|
|
|
|
|
Net income
(loss)
|
|
14,057
|
1,990
|
|
951
|
|
27,012
|
3,822
|
|
(2,422)
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to
non-controlling interests
|
|
-
|
-
|
|
-
|
|
-
|
-
|
|
-
|
Net income (loss)
attributable to the
Company
|
|
14,057
|
1,990
|
|
951
|
|
27,012
|
3,822
|
|
(2,422)
|
Other
comprehensive
income (loss)
|
|
|
|
|
|
|
|
|
|
|
- Foreign
currency
translation adjustments
attributable to
non-controlling interest
|
|
-
|
-
|
|
-
|
|
-
|
-
|
|
-
|
- Foreign
currency
translation adjustments
attributable to the
Company
|
|
-
|
-
|
|
-
|
|
-
|
-
|
|
(1)
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive
loss
attributable to
non-controlling interest
|
|
-
|
-
|
|
-
|
|
-
|
-
|
|
-
|
Comprehensive
income(loss )
attributable to the
Company
|
|
14,057
|
1,990
|
|
951
|
|
27,012
|
3,822
|
|
(2,423)
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (loss)
per
share,
Basic and diluted
|
|
4.30
|
0.61
|
|
0.29
|
|
8.27
|
1.17
|
|
(0.74)
|
Weighted average
number ordinary shares,
Basic and diluted
|
|
3,265,837
|
3,265,837
|
|
3,265,837
|
|
3,265,837
|
3,265,837
|
|
3,265,837
|
|
|
|
|
|
|
|
|
|
|
|
|
FUWEI FILMS
(HOLDINGS) CO., LTD. AND SUBSIDIARIES
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE SIX-MONTH
PERIODS ENDED JUNE 30, 2020 AND 2019
(amounts in thousands
except share and per share value)
(Unaudited)
|
|
|
|
The Six-Month
Period Ended June 30,
|
|
|
2020
|
|
2019
|
|
|
RMB
|
US$
|
|
RMB
|
Cash flow from
operating activities
|
|
|
|
|
|
Net income
(loss)
|
|
27,012
|
3,822
|
|
(2,422)
|
Adjustments to
reconcile net loss to net cash
|
|
|
|
|
|
used in operating
activities
|
|
|
|
|
|
|
|
|
|
|
|
- Depreciation of
property, plant and equipment
|
|
17,986
|
2,546
|
|
23,892
|
- Amortization of
intangible assets
|
|
267
|
38
|
|
267
|
- Deferred income
taxes
|
|
(81)
|
(11)
|
|
33
|
- Bad debt
recovery
|
|
160
|
23
|
|
(903)
|
-Inventory
provision
|
|
-
|
-
|
|
724
|
Changes in operating
assets and liabilities
|
|
|
|
|
|
- Accounts and bills
receivable
|
|
(15,026)
|
(2,127)
|
|
(222)
|
-
Inventories
|
|
(2,523)
|
(357)
|
|
(323)
|
- Advance to
suppliers
|
|
(2,497)
|
(353)
|
|
794
|
- Prepaid expenses and
other current assets
|
|
(87)
|
(12)
|
|
(116)
|
- Accounts
payable
|
|
1,176
|
168
|
|
1,692
|
- Accrued expenses and
other payables
|
|
210
|
30
|
|
319
|
- Advance from
customers
|
|
(793)
|
(112)
|
|
2,203
|
- Tax
payable
|
|
65
|
9
|
|
(212)
|
|
|
|
|
|
|
Net cash provided by
(used in) operating activities
|
|
25,869
|
3,664
|
|
25,726
|
|
|
|
|
|
|
Cash flow from
investing activities
|
|
|
|
|
|
Purchases of
property, plant and equipment
|
|
(1,232)
|
(174)
|
|
(3,574)
|
Restricted cash
related to trade finance
|
|
-
|
-
|
|
-
|
Advanced to suppliers
- non current
|
|
-
|
-
|
|
-
|
Amount change in
construction in progress
|
|
(999)
|
(141)
|
|
83
|
|
|
|
|
|
|
Net cash provided by
(used in) investing activities
|
|
(2,231)
|
(315)
|
|
(3,491)
|
|
|
|
|
|
|
Cash flow from
financing activities
|
|
|
|
|
|
Principal payments of
bank loans
|
|
-
|
-
|
|
-
|
Proceeds from
(payment to) short-term bank loans
|
|
-
|
-
|
|
-
|
Proceeds from
(payment to) related party
|
|
2,309
|
327
|
|
2,296
|
Change in notes
payable
|
|
(31,000)
|
(4,388)
|
|
1,980
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash (used in)
provided by financing activities
|
|
(28,691)
|
(4,061)
|
|
4,276
|
|
|
|
|
|
|
Effect of foreign
exchange rate changes
|
|
-
|
(185)
|
|
-
|
|
|
|
|
|
|
Net increase in cash
and cash equivalent
|
|
(5,053)
|
(897)
|
|
26,511
|
|
|
|
|
|
|
Cash and cash
equivalent
|
|
|
|
|
|
At beginning of
period
|
|
86,371
|
12,407
|
|
46,908
|
At end of
period
|
|
81,318
|
11,510
|
|
73,419
|
|
|
|
|
|
|
SUPPLEMENTARY
DISCLOSURE:
|
|
|
|
|
|
Interest
paid
|
|
4,457
|
631
|
|
4,435
|
|
|
|
|
|
|
SUPPLEMENTARY
SCHEDULE OF NONCASH INVESTING AND FINANCIAL
ACTIVITIES:
|
Account payable for
plant and equipment:
|
|
1,010
|
143
|
|
1,010
|
View original
content:http://www.prnewswire.com/news-releases/fuwei-films-announces-its-unaudited-financial-results-for-the-second-quarter-of-2020-301123088.html
SOURCE Fuwei Films (Holdings) Co., Ltd.