Shares of Fuwei Films (NASDAQ: FFHL) are up 54% this morning on news the company has signed an annual sales contract with Eternal Electronic Material (Guangzhou) Co., Ltd., an existing costumer that purchases polyester film for printed circuit boards (PCB). Fuwei expects that the new contract for 2017 will increase the total polyester film for PCB sales in the first quarter of the year by approximately 34.5% compared to the same period of 2016. “Our company will continue to execute a portfolio of products that optimizes a higher margin strategy. We intend to continue to leverage our R&D capabilities and develop new, high-quality products with strong profit margins and maintain our excellent customer service in order to maintain a competitive advantage over our competitors,” Fuwei Films Chairman Zengyong Wang stated in the news release.
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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. For more information, visit www.fuweiholdings.com
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