BEIJING, Nov. 20, 2014 /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 its unaudited financial results for the three and nine
months ended September 30, 2014.
Highlights
- Net sales during the third quarter ended September 30, 2014 were RMB69.2 million or US$11.3
million, compared to RMB75.9
million during the same period in 2013, representing a
decrease of RMB6.7 million or
8.8%.
- Net loss attributable to the Company during the third quarter
ended September 30, 2014 was
RMB17.8 million or US$2.9 million compared to net loss attributable
to the Company of RMB23.2 million
during the same period in 2013, representing a decrease of
RMB5.4 million or 23.3%.
- Basic and diluted net loss per share was RMB1.36 or US$0.22
and RMB1.78 for the three-month
period ended September 30, 2014 and
2013, respectively.
- Net cash used in operating activities for the nine months ended
September 30, 2014 was RMB18.9 million or US$3.1
million compared to net cash used in operating activities of
RMB3.4 million for the nine months
ended September 30, 2013.
"While our financial results remain challenged, I am pleased to
announce that we continue to gain progress in new product as a
sample diffusion film (a type of TFT-LCD optical film) was
preliminarily accepted by a new customer after being delivered for
testing," commented Mr. Xiaoan He,
Chairman and Chief Executive Officer of Fuwei Films. "We are
supplying small batches of products according to this customer's
purchase order. In addition, a sample base film for solar
backsheets has been delivered to a customer for initial testing.
This production line is also expected to be utilized to produce
other thick films, including high performance electrical insulation
film, base film for solar back sheets and other films where we may
see an opportunity to gain a significant presence in
high-technology industries. "We will continue to focus our efforts
on R&D, mainly in the area of development of higher quality and
more value-added TFT-LCD optical film, factors that will enable the
Company to distinguish our competitive advantages and eventually
improve earnings performance in the market," concluded Mr. He.
Third Quarter 2014 Results
Net sales during the third quarter ended September 30, 2014 were RMB69.2 million or US$11.3
million, compared to RMB75.9
million during the same period in 2013, representing a
decrease of RMB6.7 million or 8.8%,
mainly due to the reduction in average sales price by 0.9% arising
from stronger competition in China
and decrease of total sales volumes by 8.0%. The reduction of
average sales price caused a decrease of RMB0.6 million and the sales volume caused a
decrease of RMB6.1 million.
In the third quarter of 2014, sales of specialty films were
RMB20.7 million or US$3.4 million, representing 30.0% of the
Company's total revenues as compared to RMB20.6 million or 27.2% in the same period of
2013, which was an increase of RMB0.1
million, or 0.5% as compared to the same period in 2013. The
increase in average sales price caused an increase of RMB0.5 million and the decrease in the sales
volume caused a decrease of RMB0.4
million.
Overseas sales were RMB11.8
million or US$1.9 million, or
17.1% of total revenues, compared with RMB12.8 million or 16.9% of total revenues in the
third quarter of 2013. The decrease in average sales price caused a
decrease of RMB2.0 million and the
increase in sales volume resulted in an increase of RMB1.0 million. The decrease in overseas sales
was mainly due to the decrease in average sales price.
The following is a breakdown of PRC domestic and overseas sales
(amounts in thousands):
|
|
Nine-Month Period
Ended
September 30, 2014
|
|
Nine-Month Period
Ended
September 30, 2013
|
|
|
RMB
|
US$
|
% of Total
|
|
RMB
|
% of Total
|
Sales in
China
|
|
176,516
|
28,757
|
84.1%
|
|
194,950
|
84.8%
|
Sales in other
countries
|
|
33,390
|
5,441
|
15.9%
|
|
34,918
|
15.2%
|
|
|
|
|
|
|
|
|
|
|
209,906
|
34,198
|
100.0%
|
|
229,868
|
100.0%
|
Our gross loss was RMB3.1 million
or US$0.5 million for the third
quarter ended September 30, 2014,
representing a gross loss rate of 4.5%, as compared to a gross loss
rate of 13.0% for the same period in 2013. Correspondingly, gross
loss rate decreased by 8.5 percentage points compared to the same
period in 2013. Our average product sales prices decreased by 0.9%
compared to the same period last year and the average cost of goods
sold decreased by 8.3% compared to the same period last year.
Consequently, the amount of decrease in cost of goods sold was
higher than that in sales prices, which resulted in a decrease in
our gross loss.
Operating expenses for the third quarter ended September 30, 2014 were RMB12.1 million or US$2.0
million, which was RMB2.5
million, or 26.0% higher than the same period in 2013. This
increase was mainly due to the increase in R&D expenditure in
the third quarter of 2014.
Net loss attributable to the Company during the third quarter
ended September 30, 2014 was
RMB17.8 million or US$2.9 million compared to net loss attributable
to the Company of RMB23.2 million
during the same period in 2013, representing a decrease of
RMB5.4 million for the same period in
2013.
Nine Months 2014 Results
Net sales during the nine-month period ended September 30, 2014 were RMB209.9 million or US$34.2 million, compared to RMB229.9 million, during the same period in 2013,
representing a decrease of RMB20.0
million or 8.7%, mainly due to the reduction in average
sales price by 7.8% arising from stronger competition in
China and decrease of total sales
volumes by 0.9%. The reduction of average sales price caused a
decrease of RMB17.9 million and the
sales volume caused a decrease of RMB2.1
million.
In the nine-month period ended September
30, 2014, sales of specialty films were RMB57.1 million or US$9.3million or 27.2% of our total revenues as
compared to RMB70.3 million or 30.6%
in the same period of 2013, which was a decrease of RMB13.2 million, or 18.8% as compared to the same
period in 2013. The reduction of average sales price caused a
decrease of RMB1.2 million and the
decrease in the sales volume caused a decrease of RMB12.0 million. The decrease was largely
attributable to the decrease in sales volume for dry films and heat
shrinkable films due to the entrance of new competitors.
Overseas sales during the nine months ended September 30, 2014 were RMB33.4 million or US$5.4
million, or 15.9% of total revenues, compared with
RMB34.9 million or 15.2% of total
revenues in the same period in 2013. The decrease in average sales
price caused a decrease of RMB4.6
million and the increase in sales volume resulted in an
increase of RMB3.1 million. The
decrease in overseas sales was mainly due to decrease in sales
prices.
Our gross loss was RMB12.7 million
or US$2.1 million for the first nine
months ended September 30, 2014,
representing a gross loss rate of 6.0%, as compared to a gross loss
rate of 5.8% for the same period in 2013. Correspondingly, gross
loss rate increased by 0.2 percentage points. Our average product
sales prices decreased by 7.8% compared to the same period last
year while the average cost of goods sold decreased by 7.6%
compared to the same period last year. Consequently, the amount of
decrease in sales revenue was higher than that in cost of goods
sold during the nine months ended September
30, 2014 compared with the same period in 2013, which
resulted in an increase in the Company's gross loss.
Operating expenses for the nine months ended September 30, 2014 were RMB32.9 million or US$5.4
million, compared to RMB36.9
million in the same period in 2013, which was RMB4.0 million or 10.8% lower than the same
period in 2013. This decrease is mainly due to decreased R&D
expenditure for the first nine-months of 2014.
Basic and diluted net loss per share was RMB1.36 or US$0.22
and RMB1.78 for the three-month
period ended September 30, 2014 and
2013, respectively.
Total shareholders' equity was RMB406.3
million or US$66.2 million as
of September 30, 2014, compared with
RMB460.3 million as of December 31, 2013.
As of September 30, 2014, the
Company had 13,062,500 basic and diluted total ordinary shares
outstanding.
Conference Call Information
The Company will host a teleconference on Friday, November 21, 2014, at 8:00 a.m. EST / 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: 13595551. The replay will be available
until December 21, 2014, at
11:59 p.m. EST.
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'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 which, among other things, include both the possible
delisting of the Company's ordinary shares from the NASDAQ Global
Market; significant competition in the BOPET film industry,
especially the significant oversupply of BOPET films resulting from
the rapid growth of the Chinese BOPET industry capacity, changes in
the international market and trade barriers, especially the adverse
impact of the antidumping investigation and imposition of an
anti-dumping duty on imports of the BOPET films originating from
the People's Republic of China
("China") conducted by certain
main importing countries; fluctuations of RMB exchange rate, the
reduce in demand for the Company's products or the loss of main
customers which may result in the decrease of sales, and negatively
influencing the Company's financial performance, uncertainty as to
the future profitability, uncertainty as to the Company's ability
to successfully obtain additional funds to meet the working capital
needs of the new BOPET production line, uncertainty as to the
Company's ability to continuously develop new BOPET film products
to be produced by the third production line and keep up with
changes in BOPET film technology, risks associated with possible
defects and errors in its products including complaints and claims
from clients, uncertainty as to its ability to protect and enforce
its intellectual property rights, uncertainty as to its ability to
attract and retain qualified executives and personnel, and
uncertainty in acquiring raw materials on time and on acceptable
terms, particularly in light of the volatility in the prices of
petroleum products in recent years, instability of power and energy
supply, and the uncertainty regarding the future operation of the
Company in connection with the changes in the labor law in
China, the measures taken by the
Chinese government to save energy and reduce emissions, and the
complaints from nearby residents and local government about the
noise caused by our production as well as the uncertainty of the
impact of major shareholder transfer that have substantial
influence over the Company and the Company's business operation
including possible overlap of our BOPET products, customers and
market orientation with an BOPET film manufacturer, which is
controlled by the same individual who has control over the shares
of our major shareholder. 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:
Ms Xiaoli Yu
Investor Relations Officer
Phone: +86-133-615-59266
Email: fuweiIR@fuweifilms.com
In the U.S.:
Ms. Vivian Chen
Investor Relations
Grayling
Phone: +1-646-284-9427
Email: vivian.chen@grayling.com
FUWEI FILMS
(HOLDINGS) CO., LTD. AND SUBSIDIARIES
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
AS OF SEPTEMBER
30, 2014 AND DECEMBER 31, 2013
|
(amounts in thousands
except share and per share value)
|
(Unaudited)
|
|
|
|
September 30,
2014
|
|
December 31,
2013
|
|
RMB
|
US$
|
|
RMB
|
ASSETS
|
Current
assets
|
|
|
|
|
|
Cash and cash
equivalents
|
|
3,807
|
620
|
|
11,578
|
Restricted
cash
|
|
56,698
|
9,237
|
|
41,422
|
Accounts and bills
receivable, net
|
|
9,194
|
1,498
|
|
8,373
|
Inventories
|
|
30,753
|
5,010
|
|
38,454
|
Advance to
suppliers
|
|
5,441
|
886
|
|
6,977
|
Prepayments and other
receivables
|
|
23,558
|
3,838
|
|
26,107
|
Deferred tax assets -
current
|
|
1,726
|
281
|
|
1,702
|
Total current
assets
|
|
131,177
|
21,370
|
|
134,613
|
|
|
|
|
|
|
Property, plant and
equipment, net
|
|
494,151
|
80,507
|
|
524,777
|
Construction in
progress
|
|
366
|
60
|
|
632
|
Lease prepayments,
net
|
|
18,536
|
3,020
|
|
18,999
|
Advance to suppliers
- long term, net
|
|
1,197
|
195
|
|
2,134
|
Long-term
deposit
|
|
16,760
|
2,731
|
|
16,760
|
Other
Assets
|
|
12,723
|
2,073
|
|
13,244
|
Deferred tax assets -
non current
|
|
20,782
|
3,386
|
|
20,888
|
|
|
|
|
|
|
Total
assets
|
|
695,692
|
113,342
|
|
732,047
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
Current
liabilities
|
|
|
|
|
|
Short-term
borrowings
|
|
-
|
-
|
|
105,000
|
Long-term loan,
current portion
|
|
1,675
|
273
|
|
-
|
Due to related
parties
|
|
123,849
|
20,177
|
|
-
|
Accounts
payables
|
|
25,151
|
4,098
|
|
33,454
|
Notes
payable
|
|
99,929
|
16,280
|
|
81,990
|
Advance from
customers
|
|
10,371
|
1,690
|
|
14,665
|
Accrued expenses and
other payables
|
6,672
|
1,087
|
|
6,777
|
Obligations under
capital leases-current
|
|
8,728
|
1,422
|
|
8,314
|
Total current
liabilities
|
|
276,375
|
45,027
|
|
250,200
|
|
|
|
|
|
|
Obligations under
capital leases
|
|
1,964
|
320
|
|
8,563
|
Long-term
loan
|
|
8,325
|
1,356
|
|
10,000
|
Deferred tax
liabilities
|
|
3,551
|
579
|
|
3,736
|
|
|
|
|
|
|
Total
liabilities
|
|
290,215
|
47,282
|
|
272,499
|
|
|
|
|
|
|
Equity
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
Registered capital
(of US$0.129752 par value; 20,000,000 shares authorized; 13,062,500
issued and outstanding)
|
|
13,323
|
2,171
|
|
13,323
|
Additional paid-in
capital
|
|
311,907
|
50,816
|
|
311,907
|
Statutory
reserve
|
|
37,441
|
6,100
|
|
37,441
|
Retained
earnings
|
|
42,371
|
6,903
|
|
96,370
|
Cumulative
translation adjustment
|
|
1,221
|
198
|
|
1,266
|
Total
shareholders' equity
|
|
406,263
|
66,188
|
|
460,307
|
Non-controlling
interest
|
|
(786)
|
(128)
|
|
(759)
|
Total
equity
|
|
405,477
|
66,060
|
|
459,548
|
Total liabilities
and equity
|
|
695,692
|
113,342
|
|
732,047
|
|
FUWEI FILMS
(HOLDINGS) CO., LTD. AND SUBSIDIARIES
|
|
CONDENSED
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(LOSS)
|
|
FOR THE THREE- AND
NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2014 AND 2013
|
|
(amounts in thousands
except share and per share value)
|
|
(Unaudited)
|
|
|
|
|
The Three-Month
Period Ended
September 30,
|
|
The Nine-Month
Period Ended
September 30,
|
|
|
2014
|
|
2013
|
|
2014
|
|
2013
|
|
RMB
|
US$
|
|
RMB
|
|
RMB
|
US$
|
|
RMB
|
Net sales
|
|
69,217
|
11,277
|
|
75,890
|
|
209,906
|
34,198
|
|
229,868
|
Cost of
sales
|
|
72,326
|
11,783
|
|
85,747
|
|
222,582
|
36,263
|
|
243,223
|
|
|
|
|
|
|
|
|
|
|
|
Gross (loss)
profit
|
|
(3,109)
|
(506)
|
|
(9,857)
|
|
(12,676)
|
(2,065)
|
|
(13,355)
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses
|
|
|
|
|
|
|
|
|
|
|
Selling
expenses
|
|
4,119
|
671
|
|
3,991
|
|
10,908
|
1,777
|
|
11,961
|
Administrative
expenses
|
|
7,979
|
1,300
|
|
5,635
|
|
22,037
|
3,590
|
|
24,926
|
Total operating
expenses
|
|
12,098
|
1,971
|
|
9,626
|
|
32,945
|
5,367
|
|
36,887
|
|
|
|
|
|
|
|
|
|
|
|
Operating
loss
|
|
(15,207)
|
(2,477)
|
|
(19,483)
|
|
(45,621)
|
(7,432)
|
|
(50,242)
|
|
|
|
|
|
|
|
|
|
|
|
Other income
(expense)
|
|
|
|
|
|
|
|
|
|
|
- Interest
income
|
|
392
|
64
|
|
494
|
|
1,032
|
168
|
|
835
|
- Interest
expense
|
|
(3,140)
|
(512)
|
|
(3,566)
|
|
(9,564)
|
(1,558)
|
|
(9,447)
|
- Others income
(expense), net
|
|
98
|
16
|
|
(265)
|
|
35
|
6
|
|
(393)
|
|
|
|
|
|
|
|
|
|
|
|
Total other income
(expense)
|
|
(2,650)
|
(432)
|
|
(3,337)
|
|
(8,497)
|
(1,384)
|
|
(9,005)
|
|
|
|
|
|
|
|
|
|
|
|
Loss before provision
for income taxes
|
|
(17,857)
|
(2,909)
|
|
(22,820)
|
|
(54,118)
|
(8,816)
|
|
(59,247)
|
|
|
|
|
|
|
|
|
|
|
|
Income tax benefit
(expense)
|
|
83
|
14
|
|
(366)
|
|
103
|
17
|
|
(207)
|
|
|
|
|
|
|
|
|
|
|
|
Net
loss
|
|
(17,774)
|
(2,895)
|
|
(23,186)
|
|
(54,015)
|
(8,799)
|
|
(59,454)
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to
noncontrolling interests
|
|
(15)
|
(2)
|
|
17
|
|
(16)
|
(3)
|
|
16
|
Net loss attributable
to the Company
|
|
(17,759)
|
(2,893)
|
|
(23,203)
|
|
(53,999)
|
(8,796)
|
|
(59,470)
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive
income
|
|
|
|
|
|
|
|
|
|
|
- Foreign currency
translation adjustments attributable to noncontrolling
interest
|
|
9
|
1
|
|
2
|
|
(10)
|
(2)
|
|
14
|
- Foreign currency
translation adjustments attributable to the Company
|
|
10
|
2
|
|
1
|
|
(45)
|
(7)
|
|
31
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income
(loss) attributable to non-controlling interest
|
|
(6)
|
(1)
|
|
19
|
|
(26)
|
(5)
|
|
30
|
Comprehensive loss
attribute to the Company
|
|
(17,749)
|
(2,891)
|
|
(23,202)
|
|
(54,044)
|
(8.803)
|
|
(59,439)
|
|
|
|
|
|
|
|
|
|
|
|
Loss per share,
Basic and diluted
|
|
(1.36)
|
(0.22)
|
|
(1.78)
|
|
(4.13)
|
(0.67)
|
|
(4.55)
|
Weighted average
number ordinary shares,
Basic and diluted
|
|
13,062,500
|
13,062,500
|
|
13,062,500
|
|
13,062,500
|
13,062,500
|
|
13,062,500
|
FUWEI FILMS
(HOLDINGS) CO., LTD. AND SUBSIDIARIES
|
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
FOR THE NINE-MONTH
PERIODS ENDED SEPTEMBER 30, 2014 AND 2013
|
(amounts in thousands
except share and per share value)
|
(Unaudited)
|
|
|
|
The Nine-Month
Period Ended
September 30,
|
|
|
2014
|
|
2013
|
|
|
RMB
|
US$
|
|
RMB
|
Cash flow from
operating activities
|
|
|
|
|
|
Net loss
|
|
(54,015)
|
(8,799)
|
|
(59,454)
|
Adjustments to
reconcile net (loss) income to net cash (used in) provided by
operating activities
|
|
|
|
|
|
- Loss/(Gain) on
disposal of property, plant and equipment
|
|
-
|
-
|
|
-
|
- Depreciation of
property, plant and equipment
|
|
36,021
|
5,869
|
|
36,401
|
- Amortization of
intangible assets
|
|
393
|
64
|
|
393
|
- Deferred income
taxes
|
|
(103)
|
(17)
|
|
207
|
- Bad debt (recovery)
expense
|
|
261
|
43
|
|
(87)
|
Changes in operating
assets and liabilities
|
|
|
|
|
|
- Accounts and bills
receivable
|
|
(1,083)
|
(176)
|
|
12,218
|
-
Inventories
|
|
7,702
|
1,255
|
|
(6,957)
|
- Advance to
suppliers
|
|
1,536
|
250
|
|
7,094
|
- Prepaid expenses and
other current assets
|
|
112
|
18
|
|
(303)
|
- Accounts
payable
|
|
(8,304)
|
(1,353)
|
|
7,478
|
- Accrued expenses and
other payables
|
|
(141)
|
(23)
|
|
92
|
- Advance from
customers
|
|
(4,294)
|
(700)
|
|
2,205
|
- Tax
payable
|
|
3,028
|
493
|
|
(2,663)
|
|
|
|
|
|
|
Net cash (used in)
provided by operating activities
|
|
(18,887)
|
(3,076)
|
|
(3,376)
|
|
|
|
|
|
|
Cash flow from
investing activities
|
|
|
|
|
|
Purchases of
property, plant and equipment
|
|
(5,396)
|
(879)
|
|
(328)
|
Restricted cash
related to trade finance
|
|
(15,272)
|
(2,488)
|
|
(18,115)
|
Advance to suppliers
- non current
|
|
937
|
153
|
|
77
|
Amount change in
construction in progress
|
|
265
|
43
|
|
(9,759)
|
Proceeds from sale of
property, plant and equipment
|
|
-
|
-
|
|
-
|
|
|
|
|
|
|
Net cash used in
investing activities
|
|
(19,466)
|
(3,171)
|
|
(28,125)
|
|
|
|
|
|
|
Cash flow from
financing activities
|
|
|
|
|
|
Principal payments of
short-term bank loans
|
|
(105,000)
|
(17,107)
|
|
(110,000)
|
Proceeds from
short-term bank loans
|
|
-
|
-
|
|
106,432
|
Proceeds from related
party
|
|
123,849
|
20,177
|
|
-
|
Payment of capital
lease obligation
|
|
(6,185)
|
(1,008)
|
|
(6,128)
|
Change in notes
payable
|
|
17,939
|
2,923
|
|
35,094
|
Proceeds from
sale-leaseback equipment
|
|
-
|
-
|
|
5,000
|
|
|
|
|
|
|
Net cash provided by
financing activities
|
|
30,603
|
4,985
|
|
30,398
|
|
|
|
|
|
|
Effect of foreign
exchange rate changes
|
|
(21)
|
(31)
|
|
(12)
|
|
|
|
|
|
|
Net decrease in cash
and cash equivalent
|
|
(7,771)
|
(1,293)
|
|
(1,115)
|
|
|
|
|
|
|
Cash and cash
equivalent
|
|
|
|
|
|
At beginning of
period/year
|
|
11,578
|
1,913
|
|
5,006
|
At end of
period/year
|
|
3,807
|
620
|
|
3,891
|
|
|
|
|
|
|
SUPPLEMENTARY
DISCLOSURE:
|
|
|
|
|
|
Interest
paid
|
|
9,564
|
1,558
|
|
9,447
|
Income tax
paid
|
|
-
|
-
|
|
-
|
|
|
|
|
|
|
SUPPLEMENTARY
SCHEDULE OF NONCASH INVESTING AND FINANCIAL
ACTIVITIES:
|
Account payable for
plant and equipment:
|
|
5,886
|
959
|
|
8,445
|
Obligations for
acquired equipment under capital lease:
|
|
10,692
|
1,742
|
|
18,872
|
SOURCE Fuwei Films (Holdings) Co., Ltd.