BEIJING, April 17 /Xinhua-PRNewswire-FirstCall/ -- Fuwei Films (Holdings)
Co., Ltd. (Nasdaq: FFHL) ("Fuwei Films" or the " Company") announced the
appointments of Ms. Cindy Lu and Dr. Zhibing Qian as Senior Vice Presidents.
Xiaoan He, CEO and Chairman of Fuwei Films stated that, "We are pleased to
have new members join our management team. Ms. Lu will take full charge of
investor relations, investment and financing, as well as Sarbanes-Oxley
compliance while Dr. Qian will be responsible for operations and business
development.
Mr. He also announced that on May 16, 2007, the management will present at
Roth Capital Partners' China Discovery Tour held at the Portman Ritz Carlton
Hotel in Shanghai. Ms. Lu will be the speaker on behalf of the Company at this
conference.
Background of Ms. Cindy Lu
Ms. Lu obtained her MBA in 1996 from Southeastern University, Washington
DC. Prior to joining the Company, Ms. Lu has worked for Sargent & Lundy LLP
(Chicago), GE Capital Asia Pacific, and Tiens Biotech Group (USA). Ms. Lu
holds considerable expertise in equity finance, corporate finance, mergers and
acquisitions, and corporate risk management. During her tenure at Tiens
Biotech Group (USA) as Corporate Secretary, she led the company in their
successful upgrade listing to the American Stock Exchange and provided key
leadership in the areas of financing, investor and public relations, SEC
compliance, and accounting.
Background of Dr. Zhibing Qian
Dr. Qian received his Maters and Doctorate Degrees from University of
Idaho where he attended from 1990 to 1995. Prior to joining the Company, Dr.
Qian worked at several state owned and joint venture companies in China. From
2003 to early 2007, Dr. Qian served as the board member and general manager in
Beijing Capital Jingdian Technologies Co., Ltd. He was also employed as
general manager in another two high-tech companies in China. Dr. Qian has
substantial experience in corporate management and operations, management by
objectives, research and development, manufacturing, and marketing in rubber
industry.
About Fuwei Films:
Fuwei Films conducts its business through its wholly owned subsidiary
Shandong Fuwei Films 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.
For more information about the Company, please visit the Company's website
at http://en.fuweifilms.com or http://www.fuweifilms.com or review the
Company's annual report and other documents for free at www.sec.gov.
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. Any such forward-looking statements
involve risk and uncertainties that could cause actual results to differ
materially from any future results described by the forward-looking
statements. Risk factors that could contribute to such differences include
those matters more fully disclosed in the Company's reports filed with the
Securities and Exchange Commission. 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.
The forward-looking statements included in this press release are subject
to risks, uncertainties and assumptions about our businesses and business
environments. These statements reflect our current views with respect to
future events and are not a guarantee of future performance. Actual results of
our operations may differ materially from information contained in the
forward-looking statements as a result of risk factors some of which are
include, among other things, competition in the BOPET film industry; growth
of, and risks inherent in, the BOPET film industry in China; uncertainty as to
future profitability 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.
Contact:
Investor Relations
Robert Schechter
Corporate Insights/Equity Communications
Tel: +1-646-234-3624
Email: rschechter@corp-insights.com
Investor Relations
Yan Young
Fuwei Films (Holdings) Co., Ltd.
Tel: +86-10-8518-5620
Email: fuweiIR@fuweifilms.com