BEIJING, July 22 /PRNewswire-Asia/ -- Fuwei Films (Holdings) Co. Limited (Nasdaq: FFHL) ("Fuwei Films" or the "Company"), a manufacturer and distributor of high-quality BOPET plastic films located in China, today announced that its wholly owned subsidiary, Fuwei Films (Shandong) Co. Ltd. ("Shandong Fuwei"), has successfully completed the development of a new dry film product. The test sample has passed the strict examination by Hitachi Chemical Shanghai and Asahi ASEI.
Dry film is a high demand product in the global market. Because of the barriers to entry due to sophisticated R&D, technology and production criteria, Fuwei is one of only two major manufacturers in the Chinese BOPET industry currently producing this kind of dry film.
Dry film is generally used in circuit boards (PCB & FPC) production, in addition to nameplate and crafts etching. It is not only the most widely used mask film for PCB graphics but also indispensable image material for manufacturing precision circuits.
According to Mr. Xiaoan He, Chairman and CEO of Fuwei, "R&D has always been one of the key competitive advantages of our company. We have successfully introduced the new dry film product into the market and we expect to expand the production in the future."
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.
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 some of which are 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. 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 further information, please contact:
In China:
Maggie Huang
Investor Relations Manager
Phone: +86-10-6852-2612
Email: fuweiIR@fuweifilms.com
In the U.S.:
Leslie Wolf-Creutzfeldt
Investor Relations
Grayling
Phone: +1-646-284-9472
Email: leslie.wolf-creutzfeldt@us.grayling.com