Jul 15 2010
Fuwei Films (Holdings) Co., Ltd. (Nasdaq: FFHL) ("Fuwei Films" or the "Company"), a manufacturer and distributor of high-quality BOPET plastic films located in China, today announced that it has seen a significant increase in demand from customers outside of China in the second quarter of 2010.
Overseas sales in April, May and June increased over 200% compared to the same period of last year. The unit sales price for commodity and specialty films have increased 19.07% and 18.52% separately. Currently, Fuwei Films' overseas customers are mainly in Europe, Japan and Korea.
The Company believes that the increase in overseas sales revenue is due to the continued recovery of the global economy which has caused increased demand for BOPET films. In addition, due to Fuwei Films' focus on quality control, and a lower anti-dumping rate in the export of products to South Korea and the US, the company has experienced a growing position in the export market.
"While sales in the domestic market are booming, we have also actively pursued new customers overseas. These efforts have resulted in a significant increase of overseas sales," said Mr. Xiaoan He, Chairman and CEO of Fuwei Films, "Based on current overseas sales, we believe revenue will be significantly higher compared to the same period of last year."