BEIJING, April 11, 2013 /PRNewswire-FirstCall/ -- 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 financial results for the fourth quarter and full
year ended December 31, 2012.
Fuwei Films 2012 Highlights
- Net cash provided by operating activities was RMB46.5 million for the year ended December 31, 2012 as compared to net cash used in
operating activities of RMB14.0
million for the year ended December
31, 2011. This increase in cash flows from operating
activities was attributable primarily to the decrease in accounts
receivables.
- Operating expenses during the year ended December 31, 2012 were RMB60.9 million, an increase of RMB6.1 million, or 11.2%, as compared to 2011.
This was due to goodwill impairment for the year ended December 31, 2012.
- Fuwei Films was selected as one of the outstanding brands of
the plastic packaging industry in China in 2011 and 2012. This award was granted
by the China Packaging Federation, one of the leading
State-approved national industry federations committed to
advocating the development of the packaging industry in
China.
- Fuwei Films' third production line to manufacture
high-performance electric insulation film, base film for solar
backsheet and TFT-LCD optical film with an annual design capacity
of 23,000 metric tons and thickness between 38 and 250um was put
into trial operation.
Mr. Xiaoan He, Chairman and CEO
of Fuwei Films said, "Despite the challenges in the marketplace,
including increased competition and a significant reduction in
selling prices arising from excessive capacity, Fuwei Films focused
on innovation and completed the installation of its third
production line. We intend to develop our high value-added thick
films to meet market demands. We believe this is the key to our
long term growth and prosperity."
Fourth Quarter 2012 Results
Revenues for the fourth quarter of 2012 were RMB100.7 million (US$16.2
million), compared with RMB109.2
million in the fourth quarter of 2011, a decrease of
RMB8.5 million, or 7.8%, mainly due
to the decrease in selling prices compared to the same period in
2011 arising from stronger competition attributed to increased
capacity in China and
overseas.
Sales of specialty films for the fourth quarter of 2012 were
RMB27.6 million (US$4.4 million), or 27.4% of total revenues,
compared with RMB32.1 million or
29.4% of total revenue in the fourth quarter of 2011. The decrease
was mainly attributable to decreased selling prices compared to
those in 2011.
The following is a breakdown of commodity and specialty film
sales for the three-month periods ended December 31, 2012 and 2011 (amounts in
thousands):
|
|
Three
months period ended
|
|
|
December 31,2012
|
% of Total
|
December 31,2011
|
% of Total
|
|
|
RMB
|
US$
|
RMB
|
Stamping
and transfer film
|
|
54,434
|
8,737
|
54.1%
|
59,819
|
54.8%
|
Printing
film
|
|
8,621
|
1,384
|
8.6%
|
11,725
|
10.7%
|
Metallized
film
|
|
4,520
|
726
|
4.5%
|
3,429
|
3.1%
|
Specialty
film
|
|
27,603
|
4,431
|
27.4%
|
32,076
|
29.4%
|
Base film
for other applications
|
|
5,492
|
882
|
5.5%
|
2,164
|
2.0%
|
|
|
|
|
|
|
|
Total
|
|
100,670
|
16,159
|
100%
|
109,213
|
100%
|
Overseas sales for the fourth quarter of 2012 were RMB14.6 million (US$2.3
million), or 14.5% of total revenues, compared with
RMB15.1 million or 13.8% of total
revenues in the fourth quarter of 2011. The reduction in overseas
sales was mainly due to stronger competition in the global market
causing a significant drop of overseas selling prices in the fourth
quarter of 2012 compared with the same period last year.
The following is a breakdown of domestic versus overseas sales
for the three-month periods ended December
31, 2012 and 2011 (amounts in thousands):
|
|
Three-month period ended
|
|
|
December 31,2012
|
% of Total
|
December 31,2011
|
% of Total
|
|
|
RMB
|
US$
|
RMB
|
Sales in
China
|
|
86,070
|
13,815
|
85.5%
|
94,106
|
86.2%
|
Sales in
other countries
|
|
14,600
|
2,343
|
14.5%
|
15,107
|
13.8%
|
|
|
|
|
|
|
|
Total
|
|
100,670
|
16,159
|
100%
|
109,213
|
100.0%
|
Gross profit for the fourth quarter of 2012 was RMB(2.8 million) (US$(0.5
million)), compared with RMB7.4
million in the fourth quarter of 2011. Gross margin was
(2.8)%, compared with 6.8% in the fourth quarter of 2011. The
significant decrease in gross profit was primarily due to the
significant decrease in selling prices.
Operating expenses for the fourth quarter of 2012 was
RMB24.9 million (US$4.0 million) compared with RMB12.8 million in the fourth quarter of 2011.
This increase was mainly due to the increase of R&D expenses
and goodwill impairment for the year ended December 31, 2012.
Operating loss for the fourth quarter of 2012 was RMB(27.8 million) (US$(4.5
million)), compared with operating loss RMB(5.3 million) in the fourth quarter of
2011.
Net loss attributable to the Company for the fourth quarter of
2012 was RMB(12.5 million)
(US$(2.0 million)), compared with net
loss attributable to the Company RMB(3.8
million) in the fourth quarter of 2011. Basic and diluted
loss per share was RMB(0.96)
(US$(0.15)), compared with basic and
diluted loss per share of RMB(0.29)
in the fourth quarter of 2011.
2012 Full Year Results
For the fiscal year ended December
31, 2012, our net revenues were RMB372.9 million (US$59.8
million), which was a decrease of RMB164.7 million or 30.6%, as compared to 2011.
The decrease in revenue was mainly due to the reduction of average
selling prices by 30.6% and total sales volumes by 0.7%.
In 2012, sales of specialty films were RMB92.5 million (US$14.9
million) and 24.8% of our total revenues as compared to
RMB140.5 million and 26.1% in 2011,
which was a decrease of RMB48.0
million, or 34.1%, as compared to the same period in 2011.
The decrease was largely attributable to the decrease in demand and
selling prices for films in electronics and high-end packaging.
The Company's revenue by significant types of films for the
periods ended December 31, 2012 and
2011 is as follows (amounts in thousands):
|
|
For the year ended December
31,
|
|
|
2012
|
% of Total
|
2011
|
% of Total
|
|
|
RMB
|
US$
|
RMB
|
Stamping
and transfer film
|
|
202,029
|
32,428
|
54.2%
|
293,768
|
54.6%
|
Printing
film
|
|
42,449
|
6,814
|
11.4%
|
55,218
|
10.3%
|
Metallized
film
|
|
18,886
|
3,031
|
5.1%
|
28,205
|
5.3%
|
Specialty
film
|
|
92,537
|
14,853
|
24.8%
|
140,491
|
26.1%
|
Base film
for other
applications
|
|
16,966
|
2,723
|
4.6%
|
19,963
|
3.7%
|
|
|
372,867
|
59,849
|
100.0%
|
537,645
|
100.0%
|
Overseas sales were RMB70.6
million or US$11.3 million, or
18.9% of total revenues, compared with RMB145.5 million or 27.1% of total revenues in
2011. The decrease in overseas sales was mainly due to less demand
from international markets and enhanced competition as well as
anti-dump measures taken by the USA and South
Korea, which led to decrease in orders from the overseas
markets and the significant decrease of selling prices compared to
the same period of 2011.
The following is a breakdown of domestic versus overseas sales
for the periods ended December 31,
2012 and 2011 (amounts in
thousands):
|
|
For the
year ended December 31,
|
|
|
2012
|
% of Total
|
2011
|
% of Total
|
|
|
RMB
|
US$
|
RMB
|
Sales in
China
|
|
302,290
|
48,521
|
81.1%
|
392,195
|
72.9%
|
Sales in
other
countries
|
|
70,577
|
11,328
|
18.9%
|
145,450
|
27.1%
|
|
|
372,867
|
59,849
|
100.0%
|
537,645
|
100.0%
|
Our gross loss was RMB(3.1
million) (US$(0.5 million))
for the year of 2012, representing a gross margin of (0.8)%, as
compared to a gross margin of 15.9% in 2011. Gross margin decreased
by 16.7 percentage points compared to the same period in 2011. Our
average unit selling price decreased by 30.6% compared to last year
due to excess capacity and stronger competition in the market. In
addition, the main raw materials used in our production of BOPET
films, polyethylene terephthalate (or PET) resin and additives,
comprised approximately 73.0% of our total costs of goods sold and
these prices were greatly influenced by price fluctuation in crude
oil. Our main raw material costs, PET resin, were reduced by 14.7%
compared to last year. The decrease in product selling prices
largely exceeded that in main raw material costs during 2012
compared with 2011, which contributed to the significant decrease
in our gross profit.
Our operating expenses during the year ended December 31, 2012 were RMB60.9 million, which was an increase of
RMB6.1 million, or 11.2%, as compared
to 2011. The increase was mainly due to goodwill impairment for the
year ended December 31, 2012.
Total other income during the year ended December 31, 2012 was RMB1.8 million (US$0.3
million), compared to total other expense of RMB(5.7 million) in 2011, which was mainly
attributable to interest capitalization of RMB11.2 million (US$1.8
million) related to the third production line project in
2012. Interest payments totaled RMB11.2
million (US$1.8 million)
during 2012, which was RMB1.0 million
or 9.3% higher than that in 2011, mainly due to higher interest
rates on bank loans.
Income tax benefits during the year ended December 31, 2012 were RMB7.7 million (US$1.2
million) compared to an income tax expense of RMB(4.0 million) during 2011, which was mainly
attributable to the tax effect of changes in deferred tax during
2012.
Net loss attributable to the Company for full year 2012 was
RMB(54.4 million) (US$(8.7 million)), compared with net income of
RMB21.1 million in 2011.
Net cash provided by operating activities was RMB46.5 million (US$7.5
million) for the year ended December
31, 2012 as compared to net cash used in operating
activities of RMB(14.0 million) for
the year ended December 31, 2011.
This increase in cash flows from operating activities was
attributable primarily to the decrease in accounts receivables. In
this year, we took actions to collect overdue invoices from our
customers, which resulted in an increase in cash flows.
Cash and cash equivalents on December 31,
2012 was RMB5.0 million
(US$0.8 million), compared with
RMB44.2 million as of December 31, 2011.
Conference Call Information
The Company will host a teleconference on Friday, April 12, 2013, at 9:00 a.m. EDT / 9:00
p.m. Beijing time to
discuss the financial results. To participate in the call, please
dial +1-877-407-9205 in North
America, or +1-201-689-8054 internationally, approximately
10 minutes prior to the scheduled start time.
A replay of the call can also be accessed via telephone by
calling +1-877-660-6853 in North
America, or +1-201-612-7415 internationally, and entering
the following Conference ID: 411313. The replay will be available
until May 12, 2013, at 11:59 p.m. EDT.
About Fuwei Films
Fuwei Films conducts its business through its wholly owned
subsidiary, Fuwei Films (Shandong)
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 Films' 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 is 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 both the short and
long-term effects of the global financial crisis on the Company and
the BOPET film industry; 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 more information, please contact:
In China:
Miss Lysander Lee
Investor Relations Officer
Phone: +86 133 615 59266
In the U.S.:
Ms. Leslie Wolf-Creutzfeldt
Investor Relations
Grayling
Phone: +1-646-284-9472
Email: leslie.wolf-creutzfeldt@grayling.com
Financial Tables Follow
FUWEI
FILMS (HOLDINGS) CO., LTD and SUBSIDIARIES CONSOLIDATED
BALANCE SHEETS As of December 31, 2012 and 2011
(amounts in thousands, except share and per share data)
|
|
|
|
|
|
|
|
December 31, 2012
|
|
December 31, 2011
|
|
RMB
|
US$
|
|
RMB
|
ASSETS
|
Current
assets
|
|
|
|
|
|
Cash and
cash equivalents
|
|
5,006
|
804
|
|
44,172
|
Restricted
cash
|
|
21,457
|
3,444
|
|
102,212
|
Accounts
and bills receivable, net
|
|
21,587
|
3,465
|
|
52,457
|
Inventories
|
|
34,291
|
5,504
|
|
41,774
|
Advance to
suppliers
|
|
13,543
|
2,174
|
|
8,808
|
Prepayments and other receivables
|
|
26,174
|
4,201
|
|
31,172
|
Deferred
tax assets - current
|
|
1,857
|
298
|
|
1,309
|
Total
current assets
|
|
123,915
|
19,890
|
|
281,904
|
|
|
|
|
|
|
Plant,
properties and equipment, net
|
|
233,335
|
37,453
|
|
277,119
|
Construction in progress
|
|
337,990
|
54,251
|
|
119,647
|
Lease
prepayments, net
|
|
19,523
|
3,134
|
|
20,047
|
Advance to
suppliers - long term, net
|
|
5,299
|
851
|
|
62,799
|
Goodwill
|
|
-
|
-
|
|
10,276
|
Long-term
deposit
|
|
16,760
|
2,690
|
|
16,760
|
Other
assets
|
|
262
|
42
|
|
-
|
Deferred
tax assets - non current
|
|
10,466
|
1,680
|
|
1,622
|
|
|
|
|
|
|
Total
assets
|
|
747,550
|
119,991
|
|
790,174
|
|
|
|
|
|
|
LIABILITIES AND EQUITY
|
Current
liabilities
|
|
|
|
|
|
Short-term
borrowings
|
|
110,000
|
17,656
|
|
168,501
|
Accounts
payables
|
|
28,796
|
4,622
|
|
19,317
|
Notes
payable
|
|
38,299
|
6,147
|
|
-
|
Advance
from customers
|
|
11,714
|
1,880
|
|
11,876
|
Accrued
expenses and other payables
|
|
6,831
|
1,096
|
|
5,798
|
Obligations under capital leases-current
|
|
6,282
|
1,008
|
|
-
|
Total
current liabilities
|
|
201,922
|
32,409
|
|
205,492
|
|
|
|
|
|
|
Obligations under capital leases
|
|
13,718
|
2,202
|
|
|
Long-term
loan
|
|
10,000
|
1,605
|
|
10,000
|
Deferred
tax liabilities
|
|
3,476
|
558
|
|
1,811
|
|
|
|
|
|
|
Total
liabilities
|
|
229,116
|
36,774
|
|
217,303
|
|
|
|
|
|
|
Equity
|
|
|
|
|
|
Shareholders' equity
|
|
|
|
|
|
Registered
capital(of US$0.129752 par value; 20,000,000 shares
authorized; 13,062,500 issued and outstanding)
|
|
13,323
|
2,138
|
|
13,323
|
Additional
paid-in capital
|
|
311,907
|
50,065
|
|
311,907
|
Statutory
reserve
|
|
37,441
|
6,010
|
|
37,441
|
Retained
earnings
|
|
155,341
|
24,934
|
|
209,768
|
Accumulated other comprehensive income
|
|
1,222
|
198
|
|
1,230
|
Total
shareholders' equity
|
|
519,234
|
83,345
|
|
573,669
|
Non-controlling interest
|
|
(800)
|
(128)
|
|
(798)
|
Total
equity
|
|
518,434
|
83,217
|
|
572,871
|
Total
liabilities and equity
|
|
747,550
|
119,991
|
|
790,174
|
FUWEI
FILMS (HOLDINGS) CO., LTD and SUBSIDIARIES CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For
the Years Ended December 31, 2012, 2011 and 2010
(amounts in thousands, except share and per share data)
|
|
|
|
|
|
The
Year Ended December 31,
|
|
|
2012
|
2011
|
2010
|
|
RMB
|
US$
|
RMB
|
RMB
|
Net
sales
|
|
372,866
|
59,849
|
537,645
|
501,458
|
Cost of
sales
|
|
375,973
|
60,348
|
452,173
|
370,905
|
|
|
|
|
|
|
Gross
(loss) margin
|
|
(3,107)
|
(499)
|
85,472
|
130,553
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
Selling
expenses
|
|
18,212
|
2,923
|
19,930
|
21,642
|
Administrative expenses
|
|
32,389
|
5,199
|
34,806
|
49,281
|
Goodwill
impairment
|
|
10,276
|
1,649
|
-
|
-
|
Total
operating expenses
|
|
60,877
|
9,771
|
54,736
|
70,922
|
|
|
|
|
|
|
Operating
(loss) income
|
|
(63,984)
|
(10,270)
|
30,736
|
59,630
|
|
|
|
|
|
|
Other
income (expense):
|
|
|
|
|
|
- Interest
income
|
|
1,022
|
164
|
2,612
|
544
|
- Interest
expense
|
|
-
|
-
|
(10,227)
|
(8,846)
|
- Others
income (expense), net
|
|
798
|
128
|
1,872
|
(575)
|
Total
other income (expense)
|
|
1,820
|
292
|
(5,743)
|
(8,877)
|
|
|
|
|
|
|
(Loss)
Income before provision for income taxes
|
|
(62,164)
|
(9,978)
|
24,993
|
50,754
|
|
|
|
|
|
|
Income tax
benefit (expense)
|
|
7,727
|
1,240
|
(3,955)
|
(11,059)
|
|
|
|
|
|
|
Net (Loss)
income
|
|
(54,437)
|
(8,738)
|
21,038
|
39,695
|
|
|
|
|
|
|
Net (Loss) income attributable to noncontrolling interests
|
|
(10)
|
(2)
|
(43)
|
(1,088)
|
Net income
(loss) attributable to the Company
|
|
(54,427)
|
(8,736)
|
21,081
|
40,783
|
|
|
|
|
|
|
Other
comprehensive income (loss):
|
|
|
|
|
|
- Foreign
currency translation adjustments attributable to noncontrolling
interest
|
|
8
|
1
|
39
|
18
|
- Foreign
currency translation adjustments attributable to
the Company
|
|
(8)
|
(1)
|
44
|
193
|
|
|
|
|
|
|
Comprehensive income (loss) attributable to non-
controlling interest
|
|
(2)
|
(1)
|
(4)
|
(1,070)
|
Comprehensive (loss) income attribute to the
Company
|
|
(54,435)
|
(8,737)
|
21,125
|
40,976
|
|
|
|
|
|
|
(Loss)
Earnings per share,
Basic and diluted
|
|
(4.17)
|
(0.67)
|
1.61
|
3.12
|
Weighted
average number ordinary shares,
Basic and diluted
|
|
13,062,500
|
13,062,500
|
13,062,500
|
13,062,500
|
FUWEI
FILMS (HOLDINGS) CO., LTD and SUBSIDIARIES CONSOLIDATED
STATEMENTS OF CASH FLOWS For the Years Ended December 31,
2012, 2011 and 2010
|
|
|
|
|
|
|
The
Years Ended December 31,
|
|
|
|
2012
|
|
2011
|
2010
|
|
|
RMB
|
US$
|
|
RMB
|
RMB
|
Cash
flow from operating activities
|
|
|
|
|
|
|
Net (loss)
income
|
|
(54,437)
|
(8,738)
|
|
21,038
|
39,695
|
Adjustments to reconcile net (loss) income to net
cash
|
|
|
|
|
|
|
(used in) provided by operating activities
|
|
|
|
|
|
|
- Loss on disposal of property, plant and
equipment
|
|
10
|
2
|
|
-
|
-
|
- Loss on goodwill impairment
|
|
10,276
|
1,649
|
|
-
|
-
|
- Depreciation of property, plant and
equipment
|
|
48,709
|
7,818
|
|
43,783
|
36,731
|
- Amortization of intangible assets
|
|
524
|
84
|
|
454
|
454
|
- Deferred income taxes
|
|
(7,727)
|
(1,240)
|
|
165
|
5,231
|
- Bad debt (recovery) expense
|
|
1,026
|
165
|
|
(354)
|
(266)
|
- Inventory provision
|
|
-
|
-
|
|
3,533
|
-
|
Changes in
operating assets and liabilities
|
|
|
|
|
|
|
- Accounts and bills receivable
|
|
31,460
|
5,050
|
|
(26,620)
|
3,404
|
- Inventories
|
|
7,483
|
1,201
|
|
7,270
|
(7,538)
|
- Advance to suppliers
|
|
(6,351)
|
(1,019)
|
|
2,167
|
(7,018)
|
- Prepaid expenses and other current
assets
|
|
29,192
|
4,686
|
|
(30,180)
|
523
|
- Accounts payable
|
|
9,579
|
1,538
|
|
5,021
|
(11,581)
|
- Accrued expenses and other payables
|
|
789
|
127
|
|
(7,185)
|
8,341
|
- Advance from customers
|
|
(162)
|
(26)
|
|
(25,415)
|
24,683
|
- Tax payable
|
|
(23,920)
|
(3,839)
|
|
(7,695)
|
5,917
|
|
|
|
|
|
|
|
Net cash
provided by (used in) operating activities
|
|
46,451
|
7,458
|
|
(14,018)
|
98,575
|
|
|
|
|
|
|
|
Cash
flow from investing activities
|
|
|
|
|
|
|
Purchases
of property, plant and equipment
|
|
(5,285)
|
(848)
|
|
(35,943)
|
(2,951)
|
Restricted
cash related to trade finance
|
|
80,752
|
12,962
|
|
(100,915)
|
11,217
|
Advanced
to suppliers - non current
|
|
57,500
|
9,229
|
|
(273)
|
(420)
|
Amount
change in construction in progress
|
|
(207,432)
|
(33,295)
|
|
17,806
|
39,926
|
Interest
capitalization related to CIP
|
|
(11,174)
|
(1,794)
|
|
-
|
-
|
Amount
decrease in deposit
|
|
-
|
-
|
|
-
|
4,240
|
Proceeds
from sale of property, plant and equipment
|
|
250
|
40
|
|
-
|
-
|
|
|
|
|
|
|
|
Net cash
(used in) provided by investing activities
|
|
(85,389)
|
(13,706)
|
|
(119,325)
|
52,012
|
|
|
|
|
|
|
|
Cash
flow from financing activities
|
|
|
|
|
|
|
Principal
payments of short-term bank loans
|
|
(168,501)
|
(27,046)
|
|
(142,000)
|
(11,179)
|
Proceeds
from short-term bank loans
|
|
110,000
|
17,656
|
|
148,501
|
5,000
|
Change in
notes payable
|
|
38,299
|
6,147
|
|
-
|
-
|
Proceeds
from sale-leaseback equipment
|
|
20,000
|
3,210
|
|
-
|
-
|
|
|
|
|
|
|
|
Net cash
(used in) provided by financing activities
|
|
(202)
|
(33)
|
|
6,501
|
(6,179)
|
|
|
|
|
|
|
|
Effect of
foreign exchange rate changes
|
|
(26)
|
67
|
|
(213)
|
16
|
|
|
|
|
|
|
|
Net
(decrease) increase in cash and cash equivalent
|
|
(39,166)
|
(6,214)
|
|
(127,055)
|
144,424
|
|
|
|
|
|
|
|
Cash and
cash equivalent
|
|
|
|
|
|
|
At
beginning of period/year
|
|
44,172
|
7,018
|
|
171,227
|
26,804
|
At end of
period/year
|
|
5,006
|
804
|
|
44,172
|
171,227
|
|
|
|
|
|
|
|
SUPPLEMENTARY DISCLOSURE:
|
|
|
|
|
|
|
Interest
paid
|
|
11,174
|
1,794
|
|
10,227
|
8,846
|
Income tax
paid
|
|
-
|
-
|
|
9,654
|
3,658
|
|
|
|
|
|
|
|
SUPPLEMENTARY SCHEDULE OF NONCASH INVESTING
AND FINANCIAL ACTIVITIES:
|
|
|
|
|
|
|
Account
payable for plant and equipment:
|
|
6,003
|
964
|
|
1,730
|
-
|
Obligations for acquired equipment under capital
lease:
|
|
20,000
|
3,210
|
|
-
|
-
|
|
|
|
|
|
|
|
|
SOURCE Fuwei Films (Holdings) Co., Ltd.