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Nasdaq-listed Fuwei Films swings to loss in Q4

Apr. 17, 2012 (China Knowledge) - Fuwei Films (Holdings) Co Ltd<FFHL>, a manufacturer and distributor of high-quality BOPET plastic films in China, suffered RMB 3.8 million or US$600,000 in net loss attributable to shareholders in the fourth quarter of 2011, compared with a net profit attributable to shareholders of RMB 25.4 million in the same quarter of 2010.

Basic and diluted loss per American Depositary Share was RMB 0.29 in the fourth quarter 2011, compared with earnings per ADS of RMB 1.95 in the corresponding period of 2010.

Revenue for the fourth quarter of 2011 totaled RMB 109.2 million, less than RMB 173.5 million the Nasdaq-listed company earned in the fourth quarter 2010, reflecting a decrease of RMB 64.3 million, or 37.1%, mainly due to declined sales price and volume.

For the whole year of 2011, Fuwei Films reaped RMB 21.1 million in net profit attributable to shareholders, whereas it earned RMB 40.8 million in 2010.

Last year, the firm's revenue grew by 7.2% from a year earlier to RMB 537.6 million.

As of Dec. 31, 2011, Fuwei Films had RMB 44.2 million in cash, whereas it had RMB 171.2 million at the end of 2010.

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