Fuwei Films Appoints New Chief Financial Officer
11 Abril 2008 - 2:57PM
PR Newswire (US)
BEIJING, April 11 /Xinhua-PRNewswire-FirstCall/ -- Fuwei Films
(Holdings) Co. Limited (NASDAQ:FFHL) ("Fuwei" or "the Company"), a
manufacturer and distributor of high-quality BOPET plastic films in
China, today announced that it has appointed Mr. Xiuyong Zhang as
the Chief Financial Officer of the Company. Mr. Zhang has been a
director of the Company since November 2007. He has also been a
director of Fuwei's operating subsidiary, Fuwei Films (Shandong)
Co., Ltd., since July 2004 and Vice President for Finance there
since January 2005. He has more than 10 years of experience in
accounting, finance and investments. Prior to joining Fuwei, Mr.
Zhang was a Vice President at the Weifang branch of Shandong
Zhengyuan Hexin Auditors from 1999 to 2004. He was an accounting
supervisor at the Weifang City Local Products Company in Shandong
from 1991 to 1999. Mr. Zhang holds the Professional Certification
in Law from the China University of Political Science and Law and
the China Central Radio and Television University. In addition, he
holds the Certification of Financial Accounting from the Shandong
Television University. Mr. Zhang is a Certified Public Valuer
recognized by the Ministry of Personnel and the Ministry of Finance
in China, and is also a Certified Public Accountant recognized by
the Ministry of Finance. "I am delighted to announce Mr. Xiuyong
Zhang as our new CFO," said Mr. Xiaoan He, CEO and Chairman of
Fuwei. "I have enjoyed working with him over the past years and I
know him as an excellent team leader. With his substantial
experience in the day-to-day management of finance and accounting,
Mr. Zhang now will help us continue our high-quality financial
reporting and execute a variety of corporate finance projects. His
knowledge and skills will be a great asset to us." Fuwei will
report its fourth quarter and full year 2007 financial results
before the markets open on Monday, April 14, 2008. 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. 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 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 Manager 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, Investor Relations Manager, +86-10-8518-5620,
or ; In the U.S., Leslie Wolf-Creutzfeldt, Investor Relations of
The Global Consulting Group, +1-646-284-9472, or Web Site:
http://www.fuweiholdings.com/
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