BEIJING, Nov. 22, 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 that the majority of the shareholders of the Company have
approved in principle a 1-for-4 reverse stock split of the
Company's authorized ordinary shares, accompanied by a
corresponding decrease in the Company's issued and outstanding
ordinary shares and an increase of the par value of each ordinary
share from $0.129752 to US$0.519008 (the "Reverse Stock Split"), subject
to an extraordinary general meeting of shareholders ("EGM") to be
held on December 5, 2016.
The Company's ordinary shares will begin to trade on the NASDAQ
Stock Market on the post-Reverse Stock Split basis under the symbol
"FFHL" following the EGM. The Company has applied for a new CUSIP
number for the Company's ordinary shares post-Reverse Stock
Split.
The Company will round up to the next full share of the
Company's ordinary shares any fractional shares that result from
the Reverse Stock Split.
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.
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
Citigate Dewe Rogerson
Phone: +1-646-284-9427
Email: vivian.chen@citigatedr.com
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SOURCE Fuwei Films (Holdings) Co., Ltd.