BEIJING, April 9, 2015 /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 financial results for the fourth quarter and full
year ended December 31, 2014.
Fuwei Films2014 Highlights
- Net revenues of RMB284.5 million
or US$45.8 million.
- Net cash used in operating activities was RMB18.2 million or US$2.9
million.
- Successful acceptance by four customers of sample diffusion
film (a type of TFT-LCD optical film) from the third production
line after being delivered for testing.
- Fuwei Films awarded "Shandong Famous Brand" designation by
Shandong Provincial Quality Supervision Bureau for an additional
five years.
Mr. Zengyong Wang, Chairman and CEO of Fuwei Films commented,
"2014 was still a challenging year for Fuwei Films with increased
competition and excessive capacity resulting in significant
reduction of selling prices. As we look to 2015, we will seek to
capitalize upon opportunities in emerging markets and film
technologies by focusing efforts on continued innovation and
R&D."
Fourth Quarter 2014 Results
Revenues for the fourth quarter of 2014 were RMB74.6million or US$12.0
million, compared with RMB75.1million in the fourth quarter of 2013, a
decrease of RMB0.5 million, or 0.7%,
mainly due to the decrease in selling prices compared to the same
period in 2013 arising from stronger competition and excess
capacity in China and
overseas.
Sales of specialty films for the fourth quarter of 2014 were
RMB22.5million or US$3.6 million, or 30.2% of total revenues,
compared with RMB19.1 million or
25.5% of total revenue in the fourth quarter of 2013. The increase
was mainly attributable to increased selling volumes compared to
those in 2013.
The following is a breakdown of commodity and specialty film
sales for the three-month periods ended December 31, 2014 and 2013 (amounts in
thousands):
|
|
Three months
period ended
|
|
|
December 31,
2014
|
% of Total
|
December 31,
2013
|
% of Total
|
|
|
RMB
|
US$
|
RMB
|
Stamping and transfer
film
|
|
31,461
|
5,071
|
42.2%
|
35,166
|
46.9%
|
Printing
film
|
|
7,373
|
1,188
|
9.9%
|
8,339
|
11.1%
|
Metallized
film
|
|
934
|
151
|
1.3%
|
3,864
|
5.1%
|
Specialty
film
|
|
22,499
|
3,626
|
30.2%
|
19,128
|
25.5%
|
Base film for other
applications
|
|
12,291
|
1,981
|
16.5%
|
8,585
|
11.4%
|
|
|
|
|
|
|
|
Total
|
|
74,558
|
12,017
|
100%
|
75,082
|
100%
|
Overseas sales for the fourth quarter of 2014 were RMB9.6 million or US$1.6
million, or 12.9% of total revenues, compared with
RMB7.0 million or 9.3% of total
revenues in the fourth quarter of 2013. The increase in overseas
sales was mainly due to increased selling volumes compared to those
in 2013.
The following is a breakdown of domestic versus overseas sales
for the three-month periods ended December
31, 2014 and 2013 (amounts in thousands):
|
|
Three-month period
ended
|
|
|
December 31,
2014
|
% of Total
|
December 31,
2013
|
% of Total
|
|
|
RMB
|
US$
|
RMB
|
Sales in
China
|
|
64,930
|
10,465
|
87.1%
|
68,126
|
90.7%
|
Sales in other
countries
|
|
9,628
|
1,552
|
12.9%
|
6,956
|
9.3%
|
|
|
|
|
|
|
|
Total
|
|
74,558
|
12,017
|
100%
|
75,082
|
100%
|
Gross loss for the fourth quarter of 2014 was RMB 4.5 million or US$0.7
million, compared with a gross loss of RMB2.1 million in the fourth quarter of 2013.
Gross loss margin was 6.0%, compared with gross loss margin of 2.8%
in the fourth quarter of 2013.
Operating expenses for the fourth quarter of 2014 was
RMB10.6 million or US$1.7 million compared with RMB12.1 million in the fourth quarter of 2013.
This decrease was mainly due to the reduction of freight and the
decrease in research and development expenses.
Operating loss for the fourth quarter of 2014 was RMB15.1million US$2.4
million, compared with operating loss of RMB14.2 million in the fourth quarter of
2013.
Net loss attributable to the Company for the fourth quarter of
2014 was RMB17.3 million or
US$2.8 million, compared with net
income attributable to the Company of RMB
0.5 million in the fourth quarter of 2013. Basic and diluted
loss per share was RMB1.33 or
US$0.21, compared with basic and
diluted earnings per share of RMB0.04
in the fourth quarter of 2013.
2014 Full Year Results
During the fiscal year ended December 31,
2014, net revenues were RMB284.5
million (US$45.8 million),
compared to RMB305.0 million during
the same period in 2013, representing a decrease of RMB20.5 million or 6.7%, mainly due to the
reduction of average sales price by 8.8% caused by oversupply
arising from stronger competition in China and the decrease in the price of main
raw materials.
In 2014, sales of specialty films were RMB79.6 million or US$12.8
million representing 28.0% of our total revenues as compared
to RMB89.4 million or 29.3% in 2013,
which was a decrease of RMB9.8
million, or 11.0%, as compared to the same period in 2013.
The decrease in specialty films revenue resulted from the reduction
of average sales price which caused a decrease of RMB4.6 million and a decrease in sales volume
which contributed to a decrease of RMB5.2
million.
The Company's revenue by significant types of films produced for
the periods ended December 31, 2014
and 2013was as follows (amounts in thousands):
|
|
For the year
ended December 31,
|
|
|
2014
|
% of Total
|
2013
|
% of Total
|
|
|
RMB
|
US$
|
RMB
|
Stamping and transfer
film
|
|
118,560
|
19,108
|
41.7%
|
142,309
|
46.7%
|
Printing
film
|
|
32,987
|
5,317
|
11.6%
|
27,852
|
9.1%
|
Metallized
film
|
|
6,397
|
1,031
|
2.2%
|
17,686
|
5.8%
|
Specialty
film
|
|
79,609
|
12,830
|
28.0%
|
89,382
|
29.3%
|
Base film for other
applications
|
|
46,911
|
7,561
|
16.5%
|
27,721
|
9.1%
|
|
|
284,464
|
45,847
|
100%
|
304,950
|
100.0%
|
Overseas sales were RMB43.0
million or US$6.9 million, or
15.1% of total revenues, compared with RMB41.9 million or 13.7% of total revenues in
2013. The increase in international sales was largely driven by an
increase in sales volume of which contributed to revenues of
RMB7.7 million and partially offset
by a decrease in average sales price which affected revenues by
RMB6.6million.
The following is a breakdown of domestic versus overseas sales
for the periods ended December 31,
2014 and 2013 (amounts in thousands):
|
|
For the year
ended December 31,
|
|
|
2014
|
|
2013
|
|
|
|
RMB
|
US$
|
% of Total
|
RMB
|
% of Total
|
Sales in
China
|
|
241,446
|
38,914
|
84.9%
|
263,076
|
86.3%
|
Sales in other
countries
|
|
43,018
|
6,933
|
15.1%
|
41,874
|
13.7%
|
|
|
284,464
|
45,847
|
100.0%
|
304,950
|
100.0%
|
Our gross loss was RMB17.2 million
or US$2.8 million for the year of
2014, representing a gross loss margin of 6.0%, as compared to a
gross loss margin of 5.1% in 2013. Gross loss margin increased by
0.9 percentage points compared to the same period in 2013. Our
average unit sales price decreased by 8.8% compared to last year
while the unit sales cost decreased by 8% due to the price
reduction of main raw materials. Consequently, the decrease in
product sales price exceeded that in cost of goods sold per unit
during 2014 compared with 2013, which contributed to the decrease
in gross profit.
Our operating expenses during the year ended December 31, 2014 were RMB43.5 million, a decrease of RMB5.5 million, or 11.2%, as compared to 2013.
The sales expenses decreased by RMB1.7
million mainly due to the reduction of freight. The
administrative expense reduced by 3.8 million mainly attributable
to the decrease in research and development expenses.
Total other expense is a combination result of interest income,
interest expense and other income (expense). Total other expense
during the year ended December 31,
2014 was RMB11.4 million or
US$1.8 million, compared to total
other income of RMB4.6 million in
2013. Total other expense of 2014 increased comparing to that of
2013, which mainly attributed to increased interest expense.
Interest expense totaled RMB12.5
million or US$2.0 million
during 2014, RMB2.4 million or 23.8%
higher than that in 2013, which was mainly due to higher interest
payment associated with increased loans from related party.
Income tax benefit during the year ended December 31, 2014 was RMB0.74 million or US$0.119 million compared to an income tax
benefit of RMB10.0 million during
2013, which was mainly attributable to tax effect of changes in
deferred tax during 2014.
Net loss attributable to the Company for full year 2014 was
RMB71.3 million or US$11.5 million, compared with net loss of
RMB59.0 million in 2013.
Net cash used in operating activities was RMB18.2 million for the year ended December 31, 2014 as compared to net cash
provided by operating activities of RMB3.1
million for the year ended December
31, 2013.
Cash and cash equivalents on December 31,
2014 was RMB9.0 million or
US$1.5 million, compared with
RMB11.6million as of December 31, 2013.
Conference Call Information
The Company will host a teleconference on Friday, April 10, 2015 at 9:00 am 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: 13604837. The replay will be available
until May 10, 2015, at 11:59 p.m. EDT.
About Fuwei Films
Fuwei Films conducts its business through its wholly owned
subsidiary, Fuwei Films (Shandong)
Co., Ltd. ("Fuwei Shandong"). Fuwei Shandong 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 Manager
Phone: +86-133-615-59266
Email: fuweiIR@fuweifilms.com
In the U.S.:
Vivian Chen
Investor Relations
Grayling
Phone: +1-646-284-9427
Email: vivian.chen@grayling.com
FUWEI FILMS
(HOLDINGS) CO., LTD and SUBSIDIARIES
|
CONSOLIDATED
BALANCE SHEETS
|
As of December 31,
2014 and 2013
|
(amounts in
thousands, except share and per share data)
|
|
|
|
December 31,
2014
|
|
December 31,
2013
|
|
RMB
|
US$
|
|
RMB
|
ASSETS
|
Current
assets
|
|
|
|
|
|
Cash and cash
equivalents
|
|
9,020
|
1,454
|
|
11,578
|
Restricted
cash
|
|
48,085
|
7,750
|
|
41,422
|
Accounts and bills
receivable, net
|
|
9,867
|
1,590
|
|
8,373
|
Inventories
|
|
24,034
|
3,874
|
|
38,454
|
Advance to
suppliers
|
|
7,512
|
1,211
|
|
6,977
|
Prepayments and other
receivables
|
|
18,772
|
3,025
|
|
26,107
|
Deferred tax assets -
current
|
|
2,794
|
450
|
|
1,702
|
Total current
assets
|
|
120,084
|
19,354
|
|
134,613
|
|
|
|
|
|
|
Property, plant and
equipment, net
|
|
482,534
|
77,770
|
|
524,777
|
Construction in
progress
|
|
366
|
59
|
|
632
|
Lease prepayments,
net
|
|
18,406
|
2,967
|
|
18,999
|
Advance to suppliers
- long term, net
|
|
722
|
116
|
|
2,134
|
Long-term
deposit
|
|
16,760
|
2,701
|
|
16,760
|
Other
Assets
|
|
12,500
|
2,015
|
|
13,244
|
Deferred tax assets -
non current
|
|
21,573
|
3,477
|
|
20,888
|
|
|
|
|
|
|
Total
assets
|
|
672,945
|
108,459
|
|
732,047
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
Current
liabilities
|
|
|
|
|
|
Short-term
borrowings
|
|
-
|
-
|
|
105,000
|
Long-term loan,
current portion
|
|
3,350
|
540
|
|
-
|
Due to related
parties
|
|
125,938
|
20,298
|
|
-
|
Accounts
payables
|
|
29,484
|
4,752
|
|
33,454
|
Notes
payable
|
|
95,539
|
15,398
|
|
81,990
|
Advance from
customers
|
|
3,392
|
547
|
|
14,665
|
Accrued expenses and
other payables
|
|
6,095
|
982
|
|
6,777
|
Obligations under
capital leases-current
|
|
8,259
|
1,331
|
|
8,314
|
Total current
liabilities
|
|
272,057
|
43,848
|
|
250,200
|
|
|
|
|
|
|
Obligations under
capital leases
|
|
303
|
49
|
|
8,563
|
Long-term
loan
|
|
6,650
|
1,072
|
|
10,000
|
Deferred tax
liabilities
|
|
5,816
|
937
|
|
3,736
|
|
|
|
|
|
|
Total
liabilities
|
|
284,826
|
45,906
|
|
272,499
|
|
|
|
|
|
|
Equity
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
Registered capital
(of US$0.129752 par value; 20,000,000 shares authorized; 13,062,500
issued and outstanding)
|
|
13,323
|
2,147
|
|
13,323
|
Additional paid-in
capital
|
|
311,907
|
50,270
|
|
311,907
|
Statutory
reserve
|
|
37,441
|
6,034
|
|
37,441
|
Retained
earnings
|
|
25,043
|
4,036
|
|
96,370
|
Cumulative
translation adjustment
|
|
1,199
|
194
|
|
1,266
|
Total
shareholders' equity
|
|
388,913
|
62,681
|
|
460,307
|
Non-controlling
interest
|
|
(794)
|
(128)
|
|
(759)
|
Total
equity
|
|
388,119
|
62,553
|
|
459,548
|
Total liabilities
and equity
|
|
672,945
|
108,459
|
|
732,047
|
|
|
|
|
|
|
|
FUWEI FILMS
(HOLDINGS) CO., LTD and SUBSIDIARIES
|
CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(LOSS)
|
For the Years Ended
December 31, 2014, 2013 and 2012
|
(amounts in
thousands, except share and per share data)
|
|
|
|
The Year Ended
December 31,
|
|
|
2014
|
2013
|
2012
|
|
RMB
|
US$
|
RMB
|
RMB
|
Net sales
|
|
284,464
|
45,847
|
304,950
|
372,866
|
Cost of
sales
|
|
301,617
|
48,612
|
320,375
|
375,973
|
|
|
|
|
|
|
Gross loss
|
|
(17,153)
|
(2,765)
|
(15,425)
|
(3,107)
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
Selling
expenses
|
|
15,202
|
2,450
|
16,839
|
18,212
|
Administrative
expenses
|
|
28,337
|
4,567
|
32,130
|
32,389
|
Goodwill
impairment
|
|
-
|
-
|
-
|
10,276
|
Total operating
expenses
|
|
43,539
|
7,017
|
48,969
|
60,877
|
|
|
|
|
|
|
Operating
loss
|
|
(60,692)
|
(9,782)
|
(64,394)
|
(63,984)
|
|
|
|
|
|
|
Other income
(expense):
|
|
|
|
|
|
- Interest
income
|
|
1,297
|
209
|
1,024
|
1,022
|
- Interest
expense
|
|
(12,486)
|
(2,012)
|
(10,094)
|
-
|
- Others income
(expense), net
|
|
(203)
|
(33)
|
4,505
|
798
|
Total other income
(expense)
|
|
(11,392)
|
(1,836)
|
(4,565)
|
1,820
|
|
|
|
|
|
|
Loss before provision
for income taxes
|
|
(72,084)
|
(11,618)
|
(68,959)
|
(62,164)
|
|
|
|
|
|
|
Income tax
benefit
|
|
740
|
119
|
10,007
|
7,727
|
|
|
|
|
|
|
Net
loss
|
|
(71,344)
|
(11,499)
|
(58,952)
|
(54,437)
|
|
|
|
|
|
|
Net income (loss)
attributable to noncontrolling interests
|
|
(17)
|
(3)
|
19
|
(10)
|
Net loss attributable
to the Company
|
|
(71,327)
|
(11,496)
|
(58,971)
|
(54,427)
|
|
|
|
|
|
|
Other comprehensive
income (loss):
|
|
|
|
|
|
- Foreign currency
translation adjustments attributable to noncontrolling
interest
|
|
(18)
|
(3)
|
22
|
8
|
- Foreign currency
translation adjustments attributable to the Company
|
|
(67)
|
(11)
|
44
|
(8)
|
|
|
|
|
|
|
Comprehensive income
(loss) attributable to non-controlling interest
|
|
(35)
|
(6)
|
41
|
(2)
|
Comprehensive loss
attribute to the Company
|
|
(71,394)
|
(11,507)
|
(58,927)
|
(54,435)
|
|
|
|
|
|
|
Loss per share,
Basic and diluted
|
|
(5.46)
|
(0.88)
|
(4.51)
|
(4.17)
|
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, 2014, 2013 and 2012
|
(amounts in
thousands)
|
|
|
|
|
The Years Ended
December 31,
|
|
|
2014
|
|
2013
|
2012
|
|
|
RMB
|
US$
|
|
RMB
|
RMB
|
Cash flow from
operating activities
|
|
|
|
|
|
|
Net loss
|
|
(71,344)
|
(11,499)
|
|
(58,952)
|
(54,437)
|
Adjustments to
reconcile net (loss) income to net cash
|
|
|
|
|
|
|
provided by (used in)
operating activities
|
|
|
|
|
|
|
- Loss on disposal of
property, plant and equipment
|
|
101
|
16
|
|
33
|
10
|
- Loss on goodwill
impairment
|
|
-
|
-
|
|
-
|
10,276
|
- Depreciation of
property, plant and equipment
|
|
47,701
|
7,688
|
|
48,161
|
48,709
|
- Amortization of
intangible assets
|
|
524
|
84
|
|
524
|
524
|
- Deferred income
taxes
|
|
303
|
49
|
|
(10,007)
|
(7,727)
|
- Bad debt (recovery)
expense
|
|
30
|
5
|
|
(1,744)
|
1,026
|
- Inventory
provision
|
|
-
|
-
|
|
-
|
-
|
Changes in operating
assets and liabilities
|
|
|
|
|
|
|
- Accounts and bills
receivable
|
|
(1,524)
|
(246)
|
|
13,615
|
31,460
|
-
Inventories
|
|
14,421
|
2,324
|
|
(4,164)
|
7,483
|
- Advance to
suppliers
|
|
(535)
|
(86)
|
|
7,909
|
(6,351)
|
- Prepaid expenses and
other current assets
|
|
1,417
|
228
|
|
(398)
|
29,192
|
- Accounts
payable
|
|
(3,970)
|
(640)
|
|
4,658
|
9,579
|
- Accrued expenses and
other payables
|
|
(744)
|
(120)
|
|
38
|
789
|
- Advance from
customers
|
|
(11,273)
|
(1,817)
|
|
2,952
|
(162)
|
- Tax
payable
|
|
6,732
|
1,085
|
|
465
|
(23,920)
|
|
|
|
|
|
|
|
Net cash provided by
(used in) operating activities
|
|
(18,161)
|
(2,929)
|
|
3,090
|
46,451
|
|
|
|
|
|
|
|
Cash flow from
investing activities
|
|
|
|
|
|
|
Purchases of
property, plant and equipment
|
|
(5,559)
|
(896)
|
|
(4,416)
|
(5,285)
|
Restricted cash
related to trade finance
|
|
(6,656)
|
(1,073)
|
|
(19,974)
|
80,752
|
Advanced to suppliers
- non current
|
|
1,412
|
228
|
|
3,165
|
57,500
|
Amount change in
construction in progress
|
|
265
|
43
|
|
(8,785)
|
(207,432)
|
Interest
capitalization related to CIP
|
|
-
|
-
|
|
(2,059)
|
(11,174)
|
Proceeds from sale of
property, plant and equipment
|
|
-
|
-
|
|
-
|
250
|
|
|
|
|
|
|
|
Net cash used in
investing activities
|
|
(10,538)
|
(1,698)
|
|
(32,069)
|
(85,389)
|
|
|
|
|
|
|
|
Cash flow from
financing activities
|
|
|
|
|
|
|
Principal payments of
short-term bank loans
|
|
(105,000)
|
(16,923)
|
|
(110,000)
|
(168,501)
|
Proceeds from
short-term bank loans
|
|
-
|
-
|
|
105,000
|
110,000
|
Proceeds from related
party
|
|
125,938
|
20,298
|
|
-
|
-
|
Payment of capital
lease obligation
|
|
(8,315)
|
(1,340)
|
|
(8,123)
|
-
|
Change in notes
payable
|
|
13,549
|
2,184
|
|
43,691
|
38,299
|
Proceeds from
sale-leaseback equipment
|
|
-
|
-
|
|
5,000
|
20,000
|
|
|
|
|
|
|
|
Net cash provided by
(used in) financing activities
|
|
26,172
|
4,219
|
|
35,568
|
(202)
|
|
|
|
|
|
|
|
Effect of foreign
exchange rate changes
|
|
(31)
|
(51)
|
|
(17)
|
(26)
|
|
|
|
|
|
|
|
Net (decrease)
increase in cash and cash equivalent
|
|
(2,558)
|
(459)
|
|
6,572
|
(39,166)
|
|
|
|
|
|
|
|
Cash and cash
equivalent
|
|
|
|
|
|
|
At beginning of
period/year
|
|
11,578
|
1,913
|
|
5,006
|
44,172
|
At end of
period/year
|
|
9,020
|
1,454
|
|
11,578
|
5,006
|
|
|
|
|
|
|
|
SUPPLEMENTARY
DISCLOSURE:
|
|
|
|
|
|
|
Interest
paid
|
|
12,486
|
2,012
|
|
12,153
|
11,174
|
Income tax
paid
|
|
-
|
-
|
|
-
|
-
|
|
|
|
|
|
|
|
SUPPLEMENTARY
SCHEDULE OF NONCASH INVESTING AND FINANCIAL
ACTIVITIES:
|
|
|
|
|
|
|
Account payable for
plant and equipment:
|
|
3,070
|
495
|
|
7,466
|
6,003
|
Obligations for
acquired equipment under capital lease:
|
|
8,562
|
1,380
|
|
16,877
|
20,000
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/fuwei-films-announces-fourth-quarter-and-full-year-2014-financial-results-300063097.html
SOURCE Fuwei Films (Holdings) Co., Ltd.