BEIJING, April 7, 2016 /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, 2015.
Fuwei Films 2015 Highlights
- Net revenues of RMB248.9 million
or US$38.4 million.
- Net cash used in operating activities was RMB14.0 million or US$2.2
million.
- Our gross margin was break even for the year of 2015, as
compared to a gross loss margin of 6.0% in 2014.
Mr. Zengyong Wang, Chairman and CEO of Fuwei Films commented,
"2015 was still a challenging year for Fuwei Films with significant
competition which created oversupply of BOPET films compared to
demand in the market place. As we look to 2016, we intend to
capitalize upon opportunities in emerging markets and film
technologies by focusing our efforts on continued innovation and
R&D and are encouraged by our overseas sales volumes."
"We also previously announced the resignation of Mr. Xiuyong
Zhang as Chief Financial Officer who will be replaced by the
appointment of Mr. Benjie Dong as
the new Chief Financial Officer effective April 1, 2016. Mr. Dong has been a Director of
Shandong SNTON Group Co., Ltd. ("SNTON Group") since December 2012, and the Vice President of SNTON
Group since October 2005. We would
like to thank Mr. Xiuyong Zhang for his tenured service and support
his decision to pursue other interests," commented Mr. Zengyong
Wang.
Fourth Quarter 2015 Results
Revenues for the fourth quarter of 2015 were RMB63.7 million or US$9.8
million, compared with RMB74.6
million in the fourth quarter of 2014, a decrease of
RMB10.9 million, or 14.6%. Sales
volume accounted for a decrease of RMB2.5
million while the reduction of average sales price caused a
decrease of RMB8.4 million due to the
price reduction of main raw materials.
Sales of specialty films for the fourth quarter of 2015 were
RMB18.8 million or US$2.9 million, or 29.5% of total revenues,
compared with RMB22.5 million or
30.2% of total revenue in the fourth quarter of 2014. The decrease
was mainly attributable to decreased selling volumes compared to
those in 2014.
The following is a breakdown of commodity and specialty film
sales for the three-month periods ended December 31, 2015 and 2014 (amounts in
thousands):
|
|
Three Months
Ended
|
|
|
December 31,
2015
|
% of
Total
|
December 31,
2014
|
% of
Total
|
|
|
RMB
|
US$
|
RMB
|
Stamping and transfer
film
|
|
31,059
|
4,794
|
48.7%
|
31,461
|
42.2%
|
Printing
film
|
|
6,242
|
964
|
9.8%
|
7,373
|
9.9%
|
Metallized
film
|
|
2,021
|
312
|
3.2%
|
934
|
1.3%
|
Specialty
film
|
|
18,809
|
2,904
|
29.5%
|
22,499
|
30.2%
|
Base film for other
applications
|
|
5,576
|
861
|
8.8%
|
12,291
|
16.5%
|
|
|
|
|
|
|
|
Total
|
|
63,707
|
9,835
|
100%
|
74,558
|
100%
|
Overseas sales for the fourth quarter of 2015 were RMB10.3 million or US$1.6
million, or 16.2% of total revenues, compared with
RMB9.6 million or 12.9% of total
revenues in the fourth quarter of 2014. The increase in overseas
sales was mainly due to increased selling volumes compared to those
in 2014.
The following is a breakdown of domestic versus overseas sales
for the three-month periods ended December
31, 2015 and 2014 (amounts in thousands):
|
|
Three Months
Ended
|
|
|
December 31,
2015
|
% of
Total
|
December 31,
2014
|
% of
Total
|
|
|
RMB
|
US$
|
RMB
|
Sales in
China
|
|
53,373
|
8,239
|
83.8%
|
64,930
|
87.1%
|
Sales in other
countries
|
|
10,334
|
1,595
|
16.2%
|
9,628
|
12.9%
|
|
|
|
|
|
|
|
Total
|
|
63,707
|
9,835
|
100%
|
74,558
|
100%
|
Gross profit for the fourth quarter of 2015 was RMB3.7 million or US$0.6
million, representing a gross margin of 5.9%, compared with
a gross loss of RMB4.5 million,
representing a gross loss margin of 6.0% in the fourth quarter of
2014.
Operating expenses for the fourth quarter of 2015 were
RMB24.8 million or US$3.8 million compared with RMB10.6 million or US$1.7
million in the fourth quarter of 2014. This increase is
mainly due to the accounting treatment that allocated certain
amount of fixed overhead from the cost of goods sold to general and
administrative expenses due to the fact that the Company's third
production line has not been able to continue its production since
April 2015, in addition to an
impairment of assets incurred during 2015.
Operating loss for the fourth quarter of 2015 was RMB21.1 million US$3.2
million, compared with an operating loss of RMB15.1 million or US$2.4
million in the fourth quarter of 2014.
Net loss attributable to the Company for the fourth quarter of
2015 was RMB27.2 million or
US$4.2 million, compared with net
loss attributable to the Company of RMB17.3
million in the fourth quarter of 2014.
Basic and diluted loss per share was RMB2.08 or
US$0.32, compared with basic and
diluted loss per share of RMB1.33 or
US$0.21 in the fourth quarter of
2014.
2015 Full Year Results
During the fiscal year ended December 31,
2015, net revenues were RMB248.9
million or US$38.4 million,
compared to RMB284.5 million during
the same period in 2014, representing a decrease of RMB35.6 million or 12.5%, mainly due to the
reduction of average sales price by 13.5% caused by the decrease in
the price of main raw materials. The key factors causing the
revenue decrease were attributed to the reduction of average sales
price which led to a decrease of RMB38.8
million but was offset by an increase in sales volume of
RMB3.2 million.
In 2015, sales of specialty films were RMB73.9 million or US$11.4
million or 29.7% of our total revenues as compared to
RMB79.6 million or 28.0% in 2014,
which was a decrease of RMB5.7
million, or 7.2%, as compared to the same period in 2014.
The decrease was largely attributable to the decrease in average
selling prices by 8.9% for dry films and coated films due to the
entrance of new competitors.
Overseas sales were RMB54.6
million or US$8.4 million, or
22.0% of total revenues, compared with RMB43.0 million or 15.1% of total revenues in
2014. While the decrease of average sales price caused a decrease
of RMB8.0 million, this was offset by
the increase of sales volume of RMB19.6
million.
The following is a breakdown of domestic versus overseas sales
for the periods ended December 31,
2015 and 2014 (amounts in thousands):
|
For the year ended
December 31,
|
|
|
2015
|
% of Total
|
2014
|
% of Total
|
|
|
RMB
|
US$
|
RMB
|
Sales in
China
|
|
194,226
|
29,984
|
78.0%
|
241,446
|
84.9%
|
Sales in other
countries
|
|
54,636
|
8,434
|
22.0%
|
43,018
|
15.1%
|
|
|
248,862
|
38,418
|
100.0%
|
284,464
|
100.0%
|
Our gross margin was relatively break even for the year of 2015,
as compared to a gross loss margin of 6.0% in 2014. Gross margin
increased by 6.0 percentage points compared to the same period in
2014. Our average unit sales price decreased by 13.5% compared to
last year. The unit sales cost decreased by 18.4% due to the price
reduction of main raw materials. Consequently, the decrease in cost
of goods sold per unit exceeded that in product sales price during
2015 compared with 2014, which contributed to the increase in gross
profit.
Operating expenses during the year ended December 31, 2015 were RMB61.2 million, an increase of RMB17.7 million, or 40.7%, as compared to 2014.
This increase is mainly due to the accounting treatment that
allocated certain amount of fixed overhead from the cost of goods
sold to general and administrative expenses due to the fact that
the Company's third production line has not been able to continue
its production since April 2015, in
addition to an impairment of assets incurred during 2015.
Total other expenses are a combination result of interest
income, interest expense and other income (expense). Total other
expenses during the year ended December 31,
2015 was RMB0.9 million or
US$0.1 million, compared to total
other expenses of RMB11.4 million in
2014. This was mainly attributed to decreases in interest
expense.
Income tax expense during the year ended December 31, 2015 was RMB7.0 million or US$1.1 million compared to an income tax
benefit of RMB0.74 million during
2014, which was mainly attributable to the tax effect of changes in
deferred tax during 2015. We only recognized deferred tax assets for the loss of 2015
after considering the possibility of realizing the benefits under
the principle of conservatism.
Net loss attributable to the Company for full year 2015 was
RMB69.1 million or US$10.7 million, compared with a net loss of
RMB71.3 million or US$ 11.5 million in 2014.
Net cash used in operating activities was RMB14.0 million for the year ended December 31, 2015 as compared to net cash used in
operating activities of RMB18.2
million for the year ended December
31, 2014.
Cash and cash equivalents on December 31,
2015 was RMB14.4 million or
US$2.2 million, compared with
RMB9.0 million as of December 31, 2014.
Basic and diluted loss per share for the year ended December 31, 2015 was RMB5.29 or
US$0.82.
Conference Call Information
The Company will host a teleconference on Friday, April 8, 2016 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: 13633691. The replay will be available
until May 8, 2016, 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 Capital
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
Financial Tables Follow
FUWEI FILMS
(HOLDINGS) CO., LTD and SUBSIDIARIES
CONSOLIDATED
BALANCE SHEETS
As of December 31,
2015 and 2014
(amounts in
thousands, except share and per share data)
|
|
|
December 31,
2015
|
|
December 31,
2014
|
|
RMB
|
US$
|
|
RMB
|
ASSETS
|
Current
assets
|
|
|
|
|
|
Cash and cash
equivalents
|
|
14,355
|
2,216
|
|
9,020
|
Restricted
cash
|
|
43,215
|
6,671
|
|
48,085
|
Accounts and bills
receivable, net
|
|
10,046
|
1,551
|
|
9,867
|
Inventories
|
|
29,574
|
4,565
|
|
24,034
|
Advance to
suppliers
|
|
5,640
|
871
|
|
7,512
|
Prepayments and other
receivables
|
|
20,334
|
3,139
|
|
18,772
|
Deferred tax assets –
current
|
|
1,438
|
222
|
|
2,794
|
Total current
assets
|
|
124,602
|
19,235
|
|
120,084
|
|
|
|
|
|
|
Property, plant and
equipment, net
|
|
431,021
|
66,538
|
|
482,534
|
Construction in
progress
|
|
1,700
|
262
|
|
366
|
Lease prepayments,
net
|
|
17,882
|
2,761
|
|
18,406
|
Advance to suppliers
- long term, net
|
|
1,440
|
222
|
|
722
|
Long-term
deposit
|
|
-
|
-
|
|
16,760
|
Other
Assets
|
|
11,607
|
1,792
|
|
12,500
|
Deferred tax assets -
non current
|
|
21,297
|
3,288
|
|
21,573
|
|
|
|
|
|
|
Total
assets
|
|
609,549
|
94,098
|
|
672,945
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
Current
liabilities
|
|
|
|
|
|
Short-term
borrowings
|
|
-
|
-
|
|
-
|
Long-term loan,
current portion
|
|
3,350
|
517
|
|
3,350
|
Due to related
parties
|
|
143,080
|
22,088
|
|
125,938
|
Accounts
payables
|
|
32,760
|
5,057
|
|
29,484
|
Notes
payable
|
|
85,780
|
13,242
|
|
95,539
|
Advance from
customers
|
|
2,247
|
347
|
|
3,392
|
Accrued expenses and
other payables
|
|
8,682
|
1,340
|
|
6,095
|
Obligations under
capital leases-current
|
|
302
|
47
|
|
8,259
|
Total current
liabilities
|
|
276,201
|
42,638
|
|
272,057
|
|
|
|
|
|
|
Obligations under
capital leases
|
|
-
|
-
|
|
303
|
Long-term
loan
|
|
3,300
|
509
|
|
6,650
|
Deferred tax
liabilities
|
|
5,406
|
835
|
|
5,816
|
|
|
|
|
|
|
Total
liabilities
|
|
284,907
|
43,982
|
|
284,826
|
|
|
|
|
|
|
Equity
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
Registered capital(of
US$0.129752 par value; 20,000,000 shares authorized; 13,062,500
issued and outstanding)
|
|
13,323
|
2,057
|
|
13,323
|
Additional paid-in
capital
|
|
311,907
|
48,150
|
|
311,907
|
Statutory
reserve
|
|
37,441
|
5,780
|
|
37,441
|
Retained
earnings
|
|
(38,244)
|
(5,904)
|
|
25,043
|
Cumulative
translation adjustment
|
|
1,049
|
162
|
|
1,199
|
Total
shareholders' equity
|
|
325,476
|
50,245
|
|
388,913
|
Non-controlling
interest
|
|
(834)
|
(129)
|
|
(794)
|
Total
equity
|
|
324,642
|
50,116
|
|
388,119
|
Total liabilities
and equity
|
|
609,549
|
94,098
|
|
672,945
|
|
|
|
|
|
|
|
FUWEI FILMS
(HOLDINGS) CO., LTD and SUBSIDIARIES
CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(LOSS)
For the Years Ended
December 31, 2015, 2014 and 2013
(amounts in
thousands, except share and per share data)
|
|
|
The Year Ended
December 31,
|
|
|
2015
|
2014
|
2013
|
|
RMB
|
US$
|
RMB
|
RMB
|
Net sales
|
|
248,862
|
38,418
|
284,464
|
304,950
|
Cost of
sales
|
|
248,866
|
38,418
|
301,617
|
320,375
|
|
|
|
|
|
|
Gross loss
|
|
(4)
|
-
|
(17,153)
|
(15,425)
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
Selling
expenses
|
|
14,404
|
2,224
|
15,202
|
16,839
|
Administrative
expenses
|
|
39,559
|
6,107
|
28,337
|
32,130
|
Loss on impairment of
assets
|
|
7,219
|
1,114
|
-
|
-
|
Total operating
expenses
|
|
61,182
|
9,445
|
43,539
|
48,969
|
|
|
|
|
|
|
Operating
loss
|
|
(61,186)
|
(9,445)
|
(60,692)
|
(64,394)
|
|
|
|
|
|
|
Other income
(expense):
|
|
|
|
|
|
- Interest
income
|
|
1,236
|
191
|
1,297
|
1,024
|
- Interest
expense
|
|
(8,333)
|
(1,286)
|
(12,486)
|
(10,094)
|
- Others income
(expense), net
|
|
6,215
|
959
|
(203)
|
4,505
|
Total other income
(expense)
|
|
(882)
|
(136)
|
(11,392)
|
(4,565)
|
|
|
|
|
|
|
Loss before provision
for income taxes
|
|
(62,068)
|
(9,581)
|
(72,084)
|
(68,959)
|
|
|
|
|
|
|
Income tax (expense)
benefit
|
|
(1,222)
|
(189)
|
740
|
10,007
|
|
|
|
|
|
|
Net loss
|
|
(63,290)
|
(9,770)
|
(71,344)
|
(58,952)
|
|
|
|
|
|
|
Net income (loss)
attributable to noncontrolling interests
|
|
(3)
|
-
|
(17)
|
19
|
Net loss attributable
to the Company
|
|
(63,287)
|
(9,770)
|
(71,327)
|
(58,971)
|
|
|
|
|
|
|
Other comprehensive
income (loss):
|
|
|
|
|
|
- Foreign currency
translation adjustments attributable to noncontrolling
interest
|
|
(37)
|
(6)
|
(18)
|
22
|
- Foreign currency
translation adjustments attributable to the Company
|
|
(150)
|
(23)
|
(67)
|
44
|
|
|
|
|
|
|
Comprehensive income
(loss) attributable to non-controlling interest
|
|
(40)
|
(6)
|
(35)
|
41
|
Comprehensive loss
attribute to the Company
|
|
(63,437)
|
(9,793)
|
(71,394)
|
(58,927)
|
|
|
|
|
|
|
Loss per share,
Basic and diluted
|
|
(4.84)
|
(0.75)
|
(5.46)
|
(4.51)
|
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, 2015, 2014 and 2013
(Amounts in
thousands)
|
|
|
The Years Ended
December 31,
|
|
|
2015
|
|
2014
|
2013
|
|
|
RMB
|
US$
|
|
RMB
|
RMB
|
Cash flow from
operating activities
|
|
|
|
|
|
|
Net loss
|
|
(63,290)
|
(9,770)
|
|
(71,344)
|
(58,952)
|
Adjustments to
reconcile net (loss) income to net cash
|
|
|
|
|
|
|
provided by (used in)
operating activities
|
|
|
|
|
|
|
- Loss on disposal of
property, plant and equipment
|
|
-
|
-
|
|
101
|
33
|
- Loss on Long-term
assets impairment
|
|
7,219
|
1,114
|
|
-
|
-
|
- Depreciation of
property, plant and equipment
|
|
44,515
|
6,872
|
|
47,701
|
48,161
|
- Amortization of
intangible assets
|
|
524
|
81
|
|
524
|
524
|
- Deferred income
taxes
|
|
1,222
|
189
|
|
303
|
(10,007)
|
- Bad debt (recovery)
expense
|
|
(4,484)
|
(692)
|
|
30
|
(1,744)
|
- Inventory
provision
|
|
(1,106)
|
(171)
|
|
-
|
-
|
Changes in operating
assets and liabilities
|
|
|
|
|
|
|
- Accounts and bills
receivable
|
|
(103)
|
(16)
|
|
(1,524)
|
13,615
|
-
Inventories
|
|
(4,434)
|
(684)
|
|
14,421
|
(4,164)
|
- Advance to
suppliers
|
|
2,038
|
315
|
|
(535)
|
7,909
|
- Prepaid expenses and
other current assets
|
|
1,347
|
208
|
|
1,417
|
(398)
|
- Accounts
payable
|
|
3,277
|
506
|
|
(3,970)
|
4,658
|
- Accrued expenses and
other payables
|
|
2,446
|
378
|
|
(744)
|
38
|
- Advance from
customers
|
|
(1,145)
|
(177)
|
|
(11,273)
|
2,952
|
- Tax
payable
|
|
(2,016)
|
(311)
|
|
6,732
|
465
|
|
|
|
|
|
|
|
Net cash provided by
(used in) operating activities
|
|
(13,990)
|
(2,158)
|
|
(18,161)
|
3,090
|
|
|
|
|
|
|
|
Cash flow from
investing activities
|
|
|
|
|
|
|
Purchases of
property, plant and equipment
|
|
(222)
|
(34)
|
|
(5,559)
|
(4,416)
|
Restricted cash
related to trade finance
|
|
4,884
|
754
|
|
(6,656)
|
(19,974)
|
Advanced to suppliers
- non current
|
|
(718)
|
(111)
|
|
1,412
|
3,165
|
Amount change in
construction in progress
|
|
(1,334)
|
(206)
|
|
265
|
(8,785)
|
Interest
capitalization related to CIP
|
|
-
|
-
|
|
-
|
(2,059)
|
Deposit for
purchase
|
|
21,000
|
3,242
|
|
-
|
-
|
|
|
|
|
|
|
|
Net cash used in
(provided by) investing activities
|
|
23,610
|
3,645
|
|
(10,538)
|
(32,069)
|
|
|
|
|
|
|
|
Cash flow from
financing activities
|
|
|
|
|
|
|
Principal payments of
bank loans
|
|
(3,350)
|
(517)
|
|
(105,000)
|
(110,000)
|
Proceeds from
short-term bank loans
|
|
-
|
-
|
|
-
|
105,000
|
Proceeds from related
party
|
|
17,142
|
2,646
|
|
125,938
|
-
|
Payment of capital
lease obligation
|
|
(8,260)
|
(1,275)
|
|
(8,315)
|
(8,123)
|
Change in notes
payable
|
|
(9,759)
|
(1,507)
|
|
13,549
|
43,691
|
Proceeds from
sale-leaseback equipment
|
|
-
|
-
|
|
-
|
5,000
|
|
|
|
|
|
|
|
Net cash provided by
(used in) financing activities
|
|
(4,227)
|
(653)
|
|
26,172
|
35,568
|
|
|
|
|
|
|
|
Effect of foreign
exchange rate changes
|
|
(58)
|
(72)
|
|
(31)
|
(17)
|
|
|
|
|
|
|
|
Net (decrease)
increase in cash and cash equivalent
|
|
5,335
|
762
|
|
(2,558)
|
6,572
|
|
|
|
|
|
|
|
Cash and cash
equivalent
|
|
|
|
|
|
|
At beginning of
period/year
|
|
9,020
|
1,454
|
|
11,578
|
5,006
|
At end of
period/year
|
|
14,355
|
2,216
|
|
9,020
|
11,578
|
|
|
|
|
|
|
|
SUPPLEMENTARY
DISCLOSURE:
|
|
|
|
|
|
|
Interest
paid
|
|
8,333
|
1,286
|
|
12,486
|
12,153
|
Income tax
paid
|
|
-
|
-
|
|
-
|
-
|
|
|
|
|
|
|
|
SUPPLEMENTARY
SCHEDULE OF NONCASH INVESTING AND FINANCIAL
ACTIVITIES:
|
|
|
|
|
|
|
Account payable for
plant and equipment:
|
|
2,075
|
320
|
|
3,070
|
7,466
|
Obligations for
acquired equipment under capital lease:
|
|
302
|
47
|
|
8,562
|
16,877
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/fuwei-films-announces-fourth-quarter-and-full-year-2015-financial-results-300247287.html
SOURCE Fuwei Films (Holdings) Co., Ltd.