Contact Information: For further information, please contact: In China: Maggie Huang Investor Relations Manager Phone: +86-10-6852-2612 Email: fuweiIR@fuweifilms.com In the U.S.: Leslie Wolf-Creutzfeldt Investor Relations Graying Tel: +1-646-284-9472 Email: leslie.wolf-creutzfeldt@us.grayling.com
Fuwei Films Announces Results of the 2009 Annual Shareholders Meeting
| Source: FuWei Films
BEIJING--(Marketwire - December 1, 2009) - Fuwei Films (Holdings) Co. Limited (NASDAQ : FFHL )
("Fuwei" or the "Company"), a manufacturer and distributor of high-quality
BOPET plastic film located in China, today announced the voting results of
its Annual Meeting of the Company's Shareholders (the "Meeting") that was
held on Monday, November 30, 2009, in Beijing.
At the Meeting, Mr. Xiuyong Zhang and Mr. Tee Chuang Khoo were re-elected
to serve as members of the Board of Directors until the next annual
shareholder meeting. Shareholders also approved and ratified the
appointment of Kabani & Company, Inc., as the Company's Independent
Registered Public Accounting Firm for the fiscal year ending December 31,
2009.
About Fuwei Films
Fuwei Films conducts its business through its wholly owned subsidiary
Shandong Fuwei Films Co., Ltd. ("Shandong Fuwei") Shandong Fuwei 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 some of which are among other things,
competition in the BOPET film industry; growth of, and risks inherent in,
the BOPET film industry in China; uncertainty as to future profitability
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.