BEIJING, July 11, 2022 /PRNewswire/ — Fuwei Films (Holdings) Co., Ltd. (NASDAQ: FFHL) (“Fuwei Films” or the “Company”), a manufacturer and distributor of high quality BOPET plastic films in Chinatoday announced that the company will conduct a one-time comprehensive maintenance program, which includes the replacement of some of the machine parts in the second production line (DMT production line) from July 12, 2022. The second production line ran continuously for a considerable time, making this decision necessary. The estimated downtime for maintenance will be 15 days.
Mr. Lei Yan, President and CEO of Fuwei Films, commented, “Maintenance is to ensure that the second production line is in good working order and running smoothly so that we can continue to improve and perform better. meet customer product needs.
About Fuwei Films
Fuwei Films operates through its wholly owned subsidiary, Fuwei Films (shandong) Co., Ltd. (“Shandong Fuwei”). Shandong Fuwei develops, manufactures and distributes high quality plastic films using the biaxially oriented stretching technique, also known as BOPET (biaxially oriented polyethylene terephthalate) film. Fuwei’s BOPET film is widely used for food, medicine, cosmetics, tobacco and alcohol packaging, as well as in the imaging, electronics and magnetic product 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 is subject to risk. Risk factors that could contribute to such differences include matters more fully disclosed in the Company’s reports filed with the United States Securities and Exchange Commission which, among other things, include the adverse impacts of the Securities and Exchange Commission’s decision. and Exchange Commission that the Public Company Accounting Board of Supervisors (“PCAOB”) is currently unable to inspect our auditor with respect to its audit work and the possibility that our common stock be prohibited from trading United States under the Holding Foreign Companies Accountable Act (“HFCAA”) in 2024 if the PCAOB is unable to fully inspect or investigate auditors located in Chinaor 2023 if the proposed changes to the law are enacted, the large oversupply of BOPET films resulting from the rapid capacity growth of China’s BOPET industry, changes in the international market and trade barriers, especially the uncertainty of the anti-dumping investigation and the imposition of an anti-dumping duty on imports of BOPET films originating in the People’s Republic of China (“China“) led by certain countries; the uncertainty surrounding the coronavirus (COVID-19) outbreak and the effects of governmental and other measures to contain its spread, the potential delisting of our common stock under the Affordable Foreign Company Holding Act if the U.S. Public Company Accounting Oversight Board is unable to inspect our auditors located at Chinauncertainty around the United States-China the trade war and its effect on the Company’s operations, fluctuations in the RMB exchange rate and our ability to obtain adequate financing for our planned capital expenditures; uncertainty about our ability to continuously develop new BOPET film products and keep pace with changes in BOPET film technology; risks associated with possible defects and errors in our products; uncertainty about our ability to protect and enforce our intellectual property rights; uncertainty about our ability to attract and retain qualified management and personnel; and the uncertainty as to the acquisition of raw materials on time and under acceptable conditions, particularly given the volatility of 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 any forward-looking information in the future. Accordingly, such 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. The actual results of our operations may differ materially from the information contained in the forward-looking statements due to risk factors.
View original content: https://www.prnewswire.com/news-releases/fuwei-films-announces-maintenance-project-to-the-second-production-line-301583922.html