Fuwei Films to Report Its Unaudited Financial Results for the First Quarter of 2020 on Monday, June 22, 2020
Rhea-AI Summary
Fuwei Films (Nasdaq: FFHL), a leading manufacturer of BOPET plastic films in China, will disclose its unaudited financial results for Q1 2020 on June 22, 2020, after market closure. A teleconference is scheduled for June 23, 2020, at 9:00 a.m. ET to discuss these results. The company produces high-quality films widely used in food, medicine, and electronics packaging. The press release also mentions potential risks affecting performance, including market oversupply, trade barriers, and the COVID-19 outbreak.
Positive
- Scheduled release of Q1 2020 financial results on June 22, 2020.
- Teleconference planned for June 23, 2020, allows investors to engage directly.
Negative
- Significant oversupply in the BOPET film market due to rapid industry capacity growth.
- Risks from U.S.-China trade tensions and potential anti-dumping duties on imports.
- Uncertainty regarding impacts of COVID-19 on operations and market performance.
News Market Reaction – FFHL
In the trading session that priced this news, FFHL declined 0.31%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
BEIJING, June 15, 2020 /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 Company will report its unaudited financial results for the first quarter of 2020 on Monday, June 22, 2020 after the close of the market.
The Company will host a teleconference on Tuesday, June 23, 2020, at 9:00 a.m. ET / 9:00 p.m. Beijing time to discuss the financial results. To participate in the call, please dial +1-844-369-8770 in North America, or +1-862-298-0840 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: 35316. The replay will be available until July 7, 2020.
About Fuwei Films
Fuwei Films develops, manufactures and distributes high-quality plastic films using the biaxial oriented stretch technique, also known as BOPET film. 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:
Xiaoli Yu
Investor Relations Officer
+86-133-615-59266
fuweiIR@fuweifilms.com
In the U.S.:
Shiwei Yin
Investor Relations
Grayling
+1-646-284-9474
shiwei.yin@grayling.com
!["Cision"]("https://c212.net/c/img/favicon.png?sn=CN35132&sd=2020-06-15" "\"Cision\"")
View original content:http://www.prnewswire.com/news-releases/fuwei-films-to-report-its-unaudited-financial-results-for-the-first-quarter-of-2020-on-monday-june-22-2020-301076582.html
SOURCE Fuwei Films (Holdings) Co., Ltd.