BEIJING, Dec. 16, 2013 /PRNewswire/ -- 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 the results of its Annual General Meeting of the
Company's Shareholders (the "Meeting") which was held on
Monday, December 16, 2013 at Fuwei
Films (Shandong) Co., Ltd., No.
387 Dongming Road, Weifang, Shandong, China.
Holders of 68.75% of the Company's outstanding shares, as of the
record date, October 21, 2013, were
present in person or represented by proxy at the Meeting and
approved the election of the two director nominees -- Mr.
Changrong Ji and Mr. Shan Jiang and ratified the appointment of
Kabani & Company, Inc. as the Company's independent auditing
firm for the fiscal year ended December 31,
2013.
Commenting on the results of the Annual General Meeting, Mr.
Xiaoan He, Chairman of Fuwei Films,
stated, "We are pleased that so many of our shareholders were able
to participate in the Company's Annual General Meeting by casting
their votes on these important issues. We express our thanks to
them in supporting further efforts by Fuwei Films' Board of
Directors and its management to continue implementing our given
strategies to move the Company forward for the benefit of all
stockholders."
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 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 which, among other things, include 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 including complaints and claims from clients;
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:
Mr. Yong Jiang
Board Secretary
Phone: +86 158 632 92177
Email: yongjiang@fuweifilms.com
In the U.S.:
Ms. Vivian Chen
Investor Relations
Grayling
Phone: +1-646-284-9427
Email: vivian.chen@grayling.com
SOURCE Fuwei Films (Holdings) Co., Ltd.