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Nasdaq-listed Fuwei Films swing to losses in Q1

May. 16, 2012 (China Knowledge) - Fuwei Films (Holdings) Co Ltd<FFHL>, a manufacturer and distributor of high-quality BOPET plastic films in China, has posted RMB 15.1 million-net loss attributable to shareholders for the first quarter of this year, compared with a net profit of RMB 23.6 million the firm realized in the same period of last year.

In the three months ended Mar. 31, 2012, the Nasdaq-listed firm's diluted loss per American Depositary Share was RMB 1.16, compared with diluted earnings per ADS of RMB 1.81 in the corresponding period of 2011.

Revenue for the first quarter of this year plunged 47.8% year on year from RMB 174.2 million to RMB 91 million, of which 82.1% or RMB 74.7 million was derived from the domestic market, compared with RMB 109.37 million the company earned in the first quarter of last year.

In the overseas market, the firm's revenue reached RMB 16.31 million during the period from January to March 2012, less than RMB 64.79 million it realized in the same period of 2011.

Fuwei Films conducts its business mainly through a wholly-owned subsidiary Fuwei Films (Shandong) Co Ltd, based in Shandong Province.

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