-Teleconference to be Held on Friday,
September 3, 2021 at 8:00 am
ET-
BEIJING, Sept. 2, 2021
/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 second quarter and first six months of 2021 ended
June 30, 2021.
Second Quarter 2021 Financial Highlights
- Net sales were RMB100.6 million
(US$15.6 million), compared to
RMB82.9 million during the same
period in 2020, representing a year-over-year increase of
RMB17.7 million or 21.4%.
- Sales of specialty films were RMB69.0
million (US$10.7 million) or
68.6% of our total revenues as compared to RMB48.1 million or 58.0% in the same period of
2020, which was a year-over-year increase of RMB20.9 million, or 43.5%.
- Overseas sales were RMB13.4
million (US$2.1 million) or
13.3% of total revenues, compared with RMB7.5 million or 9.1% of total revenues in the
second quarter of 2020.
- Gross profit was RMB39.9 million
(US$6.2 million), representing a
gross profit rate of 39.6%.
- Net profit attributable to the Company was RMB19.8 million (US$3.1
million), compared with net profit attributable to the
Company of RMB14.1 million during the
same period in 2020.
First Six Months 2021 Financial Highlights
- Net sales were RMB202.2 million
(US$31.3 million), compared to
RMB166.1 million in the same period
in 2020, representing an increase of RMB36.1
million or 21.7%.
- Sales of specialty films were RMB133.9
million (US$20.7 million) or
66.2% of our total revenues as compared to RMB88.0 million or 53.0% in the same period of
2020.
- Overseas sales were RMB22.4
million (US$3.5 million), or
11.1% of total revenues, compared with RMB13.3 million or 8.0% of total revenues in the
same period in 2020.
- Our gross profit was RMB82.3
million (US$12.7 million),
representing a gross margin rate of 40.7%, as compared to a gross
margin rate of 38.7% for the same period in 2020.
- Net income attributable to the Company was RMB51.2 million (US$7.9
million), compared to net income attributable to the Company
of RMB27.0 million during the same
period in 2020.
Mr. Lei Yan, Chairman and CEO of Fuwei Films, commented, "We
continued to achieve positive trends in our mix of sales,
especially sales of specialty films which accounted for 68.6% of
our total revenues for the second quarter ended June 30, 2021. We believe these results benefit
from our commitment to innovation and differentiated marketing
strategy, which have expanded the end-user applications of our
films products. We will carry on with these efforts and expect that
they will enable the Company to capitalize on new opportunities
despite challenging industry and economic conditions."
Second Quarter 2021 Results
Net sales during the second quarter ended June 30, 2021 were RMB100.6 million (US$15.6
million), compared to RMB82.9
million during the same period in 2020, representing a
year-over-year increase of RMB17.7
million or 21.4%. The increase of average sales price caused
a year-over-year increase of RMB15.6
million and higher sales volume caused an increase of
RMB2.1 million.
In the second quarter of 2021, sales of specialty films were
RMB69.0 million (US$10.7 million) or 68.6% of our total revenues
as compared to RMB48.1 million or
58.0% in the same period of 2020, which was an increase of
RMB20.9 million, or 43.5% as compared
to the same period in 2020. The increase of sales volume caused an
increase of RMB16.0 million and the
increase in the average sales price caused an increase of
RMB4.9 million.
The following is a breakdown of commodity and specialty film
sales (amounts in thousands):
|
Three-Month Period
Ended
June 30, 2021
|
% of Total
|
|
Three-Month Period
Ended
June 30, 2020
|
% of Total
|
|
RMB
|
US$
|
|
|
RMB
|
|
|
Stamping and transfer
film
|
21,762
|
3,371
|
21.6%
|
|
25,885
|
31.3%
|
|
Printing
film
|
5,232
|
810
|
5.2%
|
|
5,746
|
6.9%
|
|
Metallization
film
|
1,090
|
169
|
1.1%
|
|
1,159
|
1.4%
|
|
Specialty
film
|
68,979
|
10,683
|
68.6%
|
|
48,088
|
58.0%
|
|
Base film for other
application
|
3,519
|
545
|
3.5%
|
|
1,978
|
2.4%
|
|
|
|
|
|
|
|
|
100,582
|
15,578
|
100.0%
|
|
82,856
|
100.0%
|
Overseas sales were RMB13.4
million or US$2.1 million, or
13.3% of total revenues, compared with RMB7.5 million or 9.1% of total revenues in the
second quarter of 2020. The increase of average sales price caused
an increase of RMB0.6 million and the
increase in sales volume resulted in an increase of RMB5.3 million.
The following is a breakdown of PRC domestic and overseas sales
(amounts in thousands):
|
|
Three-Month Period
Ended
June 30, 2021
|
% of Total
|
Three-Month Period
Ended
June 30, 2020
RMB
|
% of Total
|
|
|
RMB
|
US$
|
|
|
|
Sales in
China
|
|
87,205
|
13,506
|
86.7%
|
75,334
|
90.9%
|
|
Sales in other
countries
|
|
13,377
|
2,072
|
13.3%
|
7,522
|
9.1%
|
|
|
|
|
|
|
|
|
|
100,582
|
15,578
|
100.0%
|
82,856
|
100.0%
|
Gross profit was RMB39.9 million
(US$6.2 million) for the second
quarter ended June 30, 2021,
representing a gross profit rate of 39.6%, as compared to a gross
profit rate of 41.6% for the same period in 2020.
Operating expenses for the second quarter ended June 30, 2021 were RMB14.0
million (US$2.2 million), as
compared to RMB18.7 million for the
same period in 2020. This decrease was mainly due to the decrease
of accrual depreciation of the third production line and trial
production line as these two production lines were sold.
Net profit attributable to the Company during the second quarter
ended June 30, 2021 was RMB19.8 million (US$3.1
million) while net profit attributable to the Company was
RMB14.1 million during the same
period in 2020.
Financial Results for the Six Months Ended June 30, 2021
Net sales during the six-month period ended June 30, 2021 were RMB202.2 million (US$31.3
million), compared to RMB166.1
million in the same period in 2020, representing an increase
of RMB36.1 million or 21.7%. The
increase in average sales price caused an increase of RMB22.0 million and the increase in the sales
volume caused an increase of RMB14.1
million.
In the six-month period ended June 30, 2021, sales of
specialty films were RMB133.9 million
(US$20.7 million) or 66.2% of our
total revenues as compared to RMB88.0
million or 53.0% in the same period of 2020, which was an
increase of RMB45.9 million, or 52.2%
as compared to the same period in 2020. The increase in sales
volume caused an increase of RMB41.6
million and the increase in the average sales price caused
an increase of RMB4.3 million.
The following is a breakdown of commodity and specialty film
sales (amounts in thousands):
|
Six-Month Period
Ended
June 30, 2021
|
% of Total
|
Six-Month Period
Ended
June 30, 2020
|
% of Total
|
|
RMB
|
US$
|
|
RMB
|
|
|
Stamping and transfer
film
|
47,113
|
7,298
|
23.3%
|
60,406
|
36.3%
|
|
Printing
film
|
10,714
|
1,659
|
5.3%
|
11,591
|
7.0%
|
|
Metallization
film
|
2,733
|
423
|
1.4%
|
2,661
|
1.6%
|
|
Specialty
film
|
133,941
|
20,745
|
66.2%
|
87,965
|
53.0%
|
|
Base film for other
application
|
7,705
|
1,193
|
3.8%
|
3,466
|
2.1%
|
|
|
|
|
|
|
|
202,206
|
31,318
|
100.0%
|
166,089
|
100.0%
|
Overseas sales during the six months ended June 30, 2021 were RMB22.4 million or US$3.5
million, or 11.1% of total revenues, compared with
RMB13.3 million or 8.0% of total
revenues in the same period in 2020. This was RMB9.1 million higher than the same period in
2020. The increase in sales volume resulted in an increase of
RMB8.1 million while higher average
sales price caused an increase of RMB1.0
million.
The following is a breakdown of PRC domestic and overseas sales
(amounts in thousands):
|
Six-Month Period
Ended
June 30, 2021
|
% of Total
|
Six-Month Period
Ended
June 30, 2020
RMB
|
% of Total
|
|
RMB
|
US$
|
|
|
|
Sales in
China
|
179,801
|
27,848
|
88.9%
|
152,783
|
92.0%
|
|
Sales in other
countries
|
22,405
|
3,470
|
11.1%
|
13,306
|
8.0%
|
|
|
|
|
|
|
|
202,206
|
31,318
|
100.0%
|
166,089
|
100.0%
|
Our gross profit was RMB82.3
million (US$12.7 million) for
the first six months ended June 30,
2021, representing a gross margin rate of 40.7%, as compared
to a gross margin rate of 38.7% for the same period in 2020.
Correspondingly, gross margin rate increased by 2.0 percentage
points. Our average product sales prices increased by 12.2%
compared to the same period last year while the average cost of
goods sold increased by 8.4% compared to the same period last year.
Consequently, it resulted in an increase in our gross margin.
Operating expenses for the six months ended June 30, 2021 were RMB24.4
million (US$3.8 million),
compared to RMB33.8 million in the
same period in 2020, which was RMB9.4
million or 27.8% lower than the same period in 2020. This
decrease was mainly due to the decrease of accrual depreciation of
the third production line and trial production line.
Net income attributable to the Company during the first half of
2021 was RMB51.2 million
(US$7.9 million) compared to net
income attributable to the Company of RMB27.0 million during the same period in 2020,
representing an increase of RMB24.2
million from the same period in 2020 due to the factors
described above.
Cash, cash equivalent and restricted cash totaled RMB176.1 million (US$27.3
million) as of June 30, 2021.
Total shareholders' equity was RMB279.0
million (US$43.2 million).
As of June 30, 2021, the Company
had 3,265,837 basic and diluted total ordinary shares
outstanding.
Conference Call Information
The Company will host a teleconference on Friday, September 3, 2021, at 8:00 a.m. ET / 8:00
p.m. Beijing time to
discuss the financial results. To participate in the call, please
dial +1-844-602-0380 in North
America, or +1-862-298-0970 internationally, approximately 5
minutes prior to the scheduled start time.
A replay of the call can also be accessed via telephone by
calling +1-877-481-4010 in North
America, or +1-919-882-2331 internationally, and entering
the following Conference ID: 42544. The replay will be available
until September 17, 2021.
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 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 uncertainty 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 countries;
uncertainty around coronavirus (COVID-19) outbreak and the effects
of government and other measures seeking to contain its spread,
uncertainty around U.S.-China
trade war and its effect on the Company's operation, fluctuations
of the RMB exchange rate, 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;
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:
Ms. Xiaoli Yu
Investor Relations Officer
Phone: +86-133-615-59266
Email: fuweiIR@fuweifilms.com
In the U.S.:
Shiwei Yin
Investor Relations
Grayling
Phone: +1-646-284-9474
Email: shiwei.yin@grayling.com
And
Lucia Domville
Investor Relations
Grayling
Phone: +1-646-824-2856
Email: lucia.domville@grayling.com
Financial Tables to Follow
|
FUWEI FILMS
(HOLDINGS) CO., LTD. AND SUBSIDIARIES
|
|
CONDENSED
CONSOLIDATED BALANCE SHEETS
|
|
AS OF JUNE 30,
2021 AND DECEMBER 31, 2020
|
|
(amounts in thousands
except share and per share value)
|
|
(Unaudited)
|
|
|
|
June 30,
2021
|
|
December 31,
2020
|
|
RMB
|
US$
|
|
RMB
|
|
ASSETS
|
|
Current
assets
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
176,069
|
27,270
|
|
113,423
|
|
Restricted
cash
|
|
-
|
-
|
|
7,500
|
|
Accounts and bills
receivable, net
|
|
43,797
|
6,783
|
|
32,393
|
|
Inventories
|
|
24,477
|
3,791
|
|
25,436
|
|
Advance to
suppliers
|
|
10,388
|
1,609
|
|
7,359
|
|
Prepayments and other
receivables
|
|
1,155
|
179
|
|
1,103
|
|
Assets held for
sale
|
|
-
|
-
|
|
122,919
|
|
Deferred tax assets -
current
|
|
1,369
|
212
|
|
6,947
|
|
Total current
assets
|
|
257,255
|
39,844
|
|
317,080
|
|
|
|
|
|
|
|
Property, plant and
equipment, net
|
|
105,928
|
16,406
|
|
111,308
|
|
Lease prepayments,
net
|
|
14,952
|
2,316
|
|
15,219
|
|
Advance to suppliers
- long term, net
|
|
-
|
-
|
|
1,542
|
|
Deferred tax assets -
non current
|
|
297
|
46
|
|
507
|
|
|
|
|
|
|
|
Total
assets
|
|
378,432
|
58,612
|
|
445,656
|
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
Current
liabilities
|
|
|
|
|
|
|
Short-term
borrowings
|
|
65,000
|
10,067
|
|
65,000
|
|
Due to related
parties
|
|
-
|
-
|
|
73,571
|
|
Accounts
payables
|
|
21,763
|
3,371
|
|
25,730
|
|
Notes
payable
|
|
-
|
-
|
|
15,000
|
|
Advance from
customers
|
|
2,908
|
450
|
|
9,297
|
|
Accrued expenses and
other payables
|
7,964
|
1,233
|
|
27,400
|
|
Total current
liabilities
|
|
97,635
|
15,121
|
|
215,998
|
|
|
|
|
|
|
|
Deferred tax
liabilities
|
|
1,821
|
282
|
|
1,854
|
|
|
|
|
|
|
|
Total
liabilities
|
|
99,456
|
15,403
|
|
217,852
|
|
|
|
|
|
|
|
Equity
|
|
|
|
|
|
|
Shareholders'
equity
|
|
|
|
|
|
|
Registered capital
(of US$0.519008 par value; 5,000,000 shares
authorized; 3,265,837 issued and outstanding)
|
|
13,323
|
2,063
|
|
13,323
|
|
Additional paid-in
capital
|
|
311,907
|
48,308
|
|
311,907
|
|
Statutory
reserve
|
|
37,441
|
5,799
|
|
37,441
|
|
Retained
earnings
|
|
(84,535)
|
(13,093)
|
|
(135,707)
|
|
Cumulative
translation adjustment
|
|
840
|
132
|
|
840
|
|
Total
shareholders' equity
|
|
278,976
|
43,209
|
|
227,804
|
|
Total
equity
|
|
278,976
|
43,209
|
|
227,804
|
|
Total liabilities
and equity
|
|
378,432
|
58,612
|
|
445,656
|
|
FUWEI FILMS
(HOLDINGS) CO., LTD. AND SUBSIDIARIES
|
|
CONDENSED
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(LOSS)
|
|
FOR THE THREE- AND
SIX-MONTH PERIODS ENDED JUNE 30, 2021 AND 2020
|
|
(amounts in thousands
except share and per share value)
|
|
(Unaudited)
|
|
|
|
The Three-Month
Period Ended June 30,
|
|
The Six-Month
Period Ended June 30,
|
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
|
RMB
|
US$
|
|
RMB
|
|
RMB
|
US$
|
|
RMB
|
|
Net sales
|
|
100,582
|
15,578
|
|
82,856
|
|
202,206
|
31,318
|
|
166,089
|
|
Cost of
sales
|
|
60,728
|
9,406
|
|
48,421
|
|
119,902
|
18,570
|
|
101,895
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
39,854
|
6,172
|
|
34,435
|
|
82,304
|
12,748
|
|
64,194
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses
|
|
|
|
|
|
|
|
|
|
|
|
Selling
expenses
|
|
4,944
|
766
|
|
3,372
|
|
9,058
|
1,403
|
|
7,458
|
|
Administrative
expenses
|
|
9,014
|
1,396
|
|
15,368
|
|
15,369
|
2,380
|
|
26,323
|
|
Total operating
expenses
|
|
13,958
|
2,162
|
|
18,740
|
|
24,427
|
3,783
|
|
33,781
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
income
|
|
25,896
|
4,010
|
|
15,695
|
|
57,877
|
8,965
|
|
30,413
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income
(expense)
|
|
|
|
|
|
|
|
|
|
|
|
- Interest
income
|
|
1,368
|
212
|
|
567
|
|
2,225
|
345
|
|
857
|
|
- Interest
expense
|
|
(1,378)
|
(213)
|
|
(2,241)
|
|
(2,953)
|
(457)
|
|
(4,457)
|
|
- Others income
(expense), net
|
|
(344)
|
(53)
|
|
49
|
|
(222)
|
(34)
|
|
118
|
|
Total other
expenses
|
|
(354)
|
(54)
|
|
(1,625)
|
|
(950)
|
(146)
|
|
(3,482)
|
|
|
|
|
|
|
|
|
|
|
|
|
Income(loss) before
provision for income taxes
|
|
25,542
|
3,956
|
|
14,070
|
|
56,927
|
8,819
|
|
26,931
|
|
Income tax benefit
(expense)
|
|
(5,736)
|
(888)
|
|
(13)
|
|
(5,755)
|
(891)
|
|
81
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
(loss)
|
|
19,806
|
3,068
|
|
14,057
|
|
51,172
|
7,928
|
|
27,012
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
attributable to non-controlling interests
|
|
-
|
-
|
|
-
|
|
-
|
-
|
|
-
|
|
Net income (loss)
attributable to the Company
|
|
19,806
|
3,068
|
|
14,057
|
|
51,172
|
7,928
|
|
27,012
|
|
Other comprehensive
income (loss)
|
|
|
|
|
|
|
|
|
|
|
|
- Foreign currency
translation adjustments attributable to non-controlling
interest
|
|
-
|
-
|
|
-
|
|
-
|
-
|
|
-
|
|
- Foreign currency
translation adjustments attributable to the Company
|
|
-
|
-
|
|
-
|
|
-
|
-
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive loss
attributable to non-controlling interest
|
|
-
|
-
|
|
-
|
|
-
|
-
|
|
-
|
|
Comprehensive
income(loss ) attributable to the Company
|
|
19,806
|
3,068
|
|
14,057
|
|
51,172
|
7,928
|
|
27,012
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (loss) per
share,
Basic and diluted
|
|
6.06
|
0.94
|
|
4.30
|
|
15.67
|
2.43
|
|
8.27
|
|
Weighted average
number ordinary shares,
Basic and diluted
|
|
3,265,837
|
3,265,837
|
|
3,265,837
|
|
3,265,837
|
3,265,837
|
|
3,265,837
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FUWEI FILMS
(HOLDINGS) CO., LTD. AND SUBSIDIARIES
|
|
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|
FOR THE SIX-MONTH
PERIODS ENDED JUNE 30, 2021 AND 2020
|
|
(amounts in thousands
except share and per share value)
|
|
(Unaudited)
|
|
|
|
The Six-Month
Period Ended June 30,
|
|
|
2021
|
|
2020
|
|
|
RMB
|
US$
|
|
RMB
|
|
Cash flow from
operating activities
|
|
|
|
|
|
|
Net loss
|
|
51,172
|
7,928
|
|
27,012
|
|
Adjustments to
reconcile net loss to net cash
|
|
|
|
|
|
|
used in operating
activities
|
|
|
|
|
|
|
|
|
|
|
|
|
- Depreciation of
property, plant and equipment
|
|
6,109
|
946
|
|
17,986
|
|
- Amortization of
intangible assets
|
|
266
|
41
|
|
267
|
|
- Deferred income
taxes
|
|
5,755
|
891
|
|
(81)
|
|
- Bad debt
recovery
|
|
338
|
52
|
|
160
|
|
-Inventory
provision
|
|
(497)
|
(77)
|
|
-
|
|
Changes in operating
assets and liabilities
|
|
|
|
|
|
|
- Accounts and bills
receivable
|
|
(12,667)
|
(1,962)
|
|
(15,026)
|
|
-
Inventories
|
|
1,456
|
226
|
|
(2,523)
|
|
- Advance to
suppliers
|
|
(2,102)
|
(326)
|
|
(2,497)
|
|
- Prepaid expenses and
other current assets
|
|
(52)
|
(8)
|
|
(87)
|
|
- Accounts
payable
|
|
(3,967)
|
(614)
|
|
1,176
|
|
- Accrued expenses and
other payables
|
|
(21,118)
|
(3,271)
|
|
210
|
|
- Advance from
customers
|
|
(6,389)
|
(990)
|
|
(793)
|
|
- Tax
payable
|
|
1,682
|
261
|
|
65
|
|
|
|
|
|
|
|
Net cash provided by
(used in) operating activities
|
|
19,986
|
3,097
|
|
25,869
|
|
|
|
|
|
|
|
Cash flow from
investing activities
|
|
|
|
|
|
|
Purchases of
property, plant and equipment
|
|
(730)
|
(113)
|
|
(1,232)
|
|
Proceeds from sale of
property, plant and equipment
|
|
122,919
|
19,038
|
|
-
|
|
Advanced to suppliers
- non current
|
|
1,542
|
239
|
|
-
|
|
Amount change in
construction in progress
|
|
-
|
-
|
|
(999)
|
|
|
|
|
|
|
|
Net cash provided by
(used in) investing activities
|
|
123,731
|
19,164
|
|
(2,231)
|
|
|
|
|
|
|
|
Cash flow from
financing activities
|
|
|
|
|
|
|
Principal payments of
bank loans
|
|
-
|
-
|
|
-
|
|
Proceeds from
(payment to) short-term bank loans
|
|
-
|
-
|
|
-
|
|
Proceeds from
(payment to) related party
|
|
(73,571)
|
(11,395)
|
|
2,309
|
|
Change in notes
payable
|
|
(15,000)
|
(2,323)
|
|
(31,000)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash (used in)
provided by financing activities
|
|
(88,571)
|
(13,718)
|
|
(28,691)
|
|
|
|
|
|
|
|
Effect of foreign
exchange rate changes
|
|
-
|
195
|
|
-
|
|
|
|
|
|
|
|
Net increase in cash
and cash equivalent
|
|
55,146
|
8,738
|
|
(5,053)
|
|
|
|
|
|
|
|
Cash and cash
equivalent
|
|
|
|
|
|
|
At beginning of
period
|
|
120,923
|
18,532
|
|
86,371
|
|
At end of
period
|
|
176,069
|
27,270
|
|
81,318
|
|
|
|
|
|
|
|
SUPPLEMENTARY
DISCLOSURE:
|
|
|
|
|
|
|
Interest
paid
|
|
2,953
|
457
|
|
4,457
|
|
|
|
|
|
|
|
SUPPLEMENTARY
SCHEDULE OF NONCASH INVESTING AND FINANCIAL
ACTIVITIES:
|
|
Account payable for
plant and equipment:
|
|
1,010
|
156
|
|
1,010
|
View original
content:https://www.prnewswire.com/news-releases/fuwei-films-announces-its-unaudited-financial-results-for-the-second-quarter-of-2021-301368583.html
SOURCE Fuwei Films
