BEIJING, Sept. 12, 2011 - 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 its wholly-owned subsidiary, Fuwei Films (Shandong) Co., Ltd. (“Shandong Fuwei”) has recently received three utility patents in August 2011 from State Intellectual Property Office of PRC. These utility patents relate to anti-condensation automotive window film, oligomer-proof automotive window PET base film and anti-flaming matte film for architectural heat insulation.
Fuwei Films’ patented automotive window film features high transparency, good transmittance, high gloss and anti-condensation properties, which tackles the weakness of prevailing PET films which have poor visibility through the glass due to condensation when there is a big difference between temperatures inside and outside of the automobile.
Fuwei Films’ patented oligomer-proof automotive window PET base film features superior optical characteristics including clarity and is able to prevent oligomer formation in the process of production and use, and its exposure to sunlight over time will not give the exposed face of the film a cloudy appearance. This makes it a more ideal high-end automotive window film.
Fuwei Films’ patented anti-flaming matte film for architectural heat insulation features outstanding strength as well as heat insulation and anti-flaming properties, which is superior to prevailing PET films with poor anti-flaming properties which can be flammable during the fire.
“We are pleased to have received our new patents, since we believe that R&D has always been one of the key competitive advantages of the Company. We expect to continue to focus on R&D and commercialization of new products to enhance the competitiveness of Fuwei Films and to continue to grow our product lines and markets,” said Mr. Xiaoan He, Chairman and CEO of the Company.
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.
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 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.
For more information, please contact:
Ms. Amy Gao
Investor Relations Manager
Phone: +86 10 68522612
In the U.S.:
Ms. Leslie Wolf-Creutzfeldt