Fuwei Films: Rises on third-quarter profit, overseas sales growth

Baijiayun

27/11/2019 14:10

** U.S.-listed shares of China-based plastic films
distributor  FFHL.O  jump 30.3% to $4.30 premarket; set for best
day in over three months
    ** FFHL posts Q3 net profit of 3.4 mln yuan vs loss of 8.5
mln yuan last year, representing an increase in profit of 5.2
mln yuan ($738,751.79)    
    ** Sales in FFHL's overseas business rose to 11.6 mln yuan,
from 8.5 mln yuan in the year-ago period
    ** However, net revenue decreased in Q3 primarily due to
lower sales of specialty films which constitute for more than
half of FFHL's total revenue  urn:newsml:reuters.com:*:nPn1kxg6ca
    ** "Looking ahead, the BOPET (a kind of polyester film)
industry remains competitive as a result of higher supply."- CEO
Zengyong Wang
    ** Stock among top percentage gainers across all U.S.
exchanges
    ** Up to Tuesday's close, stock had risen ~54% outperforming
the ~23% increase in the Nasdaq Industrial index  .IXID 

($1 = 7.0389 Chinese yuan renminbi)

 (Reporting by Ambhini Aishwarya in Bengaluru)
 ((Ambhini.Aishwarya@thomsonreuters.com; within U.S.+1 646 223
8780; outside U.S. +91 80 6749 0543;))