Fuwei Films Announces Receipt of NASDAQ Compliance Letter
29 Novembro 2007 - 12:00PM
PR Newswire (US)
BEIJING, Nov. 29 /Xinhua-PRNewswire-FirstCall/ -- Fuwei Films
(Holdings) Co. Limited (NASDAQ:FFHL) (the "Company"), a
manufacturer and distributor of high-quality BOPET plastic film
located in China, today announced that it received a letter from
the Nasdaq Stock Market ("Nasdaq") stating that the Company's
recent appointment of new directors has allowed the Company to
regain compliance with The Nasdaq Marketplace Rule 4350(a)(5) (the
"Rule"). On October 30, 2007, Nasdaq had notified the Company that,
as a result of the resignation of certain directors, it did not
comply with the audit committee requirement for continued listing
on The Nasdaq Global Market set forth in the Rule. According to the
letter received from Nasdaq, based on the information regarding the
appointment of Mr. Tee Chuang Khoo to the Company's Board of
Directors and audit committee, detailed in the submission to Nasdaq
dated November 14, 2007 and in the Form 6-K filed with the United
States Securities and Exchange Commission on November 27, 2007,
Nasdaq has determined that the Company complies with the Rule and
this matter is now closed. About Fuwei Films Fuwei Films conducts
its business through its wholly owned subsidiary Shandong Fuwei
Films Co., Ltd. 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://www.fuweiholdings.com/. 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.
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.
For more information, please contact: In China: Christina He
Investor Relations Phone: +86-10-8518-5620 Email: In the U.S.:
Leslie Wolf-Creutzfeldt Investor Relations The Global Consulting
Group Tel: +1-646-284-9472 Email: DATASOURCE: Fuwei Films
(Holdings) Co. Limited CONTACT: In China: Christina He of Investor
Relations of Fuwei Films (Holdings) Co. Limited, +86-10-8518-5620,
or ; In the U.S.: Leslie Wolf-Creutzfeldt of Investor Relations of
The Global Consulting Group, +1-646-284-9472, or Web Site:
http://www.fuweiholdings.com/
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