FFHL - Earnings call transcript Q4 2020

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Operator

Good day, ladies and gentlemen. And welcome to the Fuwei Films' Fourth Quarter 2020 Earnings Conference Call. All lines have been placed on a listen-only mode and the floor will be open for questions and comments following the presentation. [Operator Instructions] At this time, it is my pleasure to turn the floor over to your host, Shiwei Yin. Sir, the floor is yours.

Shiwei Yin

Dagmar. you, Thank let being and you today's that Thank me is recorded. call you remind of be A after call today's replay will of call. the made the conclusion shortly available

Securities certain like Before that I the are Reform forward-looking the and course Litigation call to historical to projected statements conference during that Safe this made of future remind facts we pursuant XXXX. made are would the of Harbor statements you about start, of financial of not constitute Private that Act provisions events results

You should differ variety in due know that actual business. results a the these materially may company's of to the projected from affecting factors those statements

filings subject may forward-looking Securities new or and with the to are no information, uncertainties. and Exchange factors Commission. statements We events our affect Discussion to any is expectations. that results result update undertake correct or of a of future our in the Forward-looking future obligation statements U.S. risk in as provided changes contained

is Joining us on today’s Mr. Yong Corporate Secretary. Jiang, call

highlights, ahead. you his please Sir, Before I remarks. opening our go deliver will Mr. through Jiang walk financial

Yong Jiang

Hello, gross everyone and grow. of company continue for user innovation and us and gross believe margin total trends you percentage to positive and We year and of the XX.X attract today. XX.X% expand revenues points Sales to from focus margins landscape by industrial clients films existing by gross the to our which revenues XX.X% navigate specialty customers. economic and the increased encouraged We're to that the relationships accounted our enable revenues new in XXXX, for to XXXX. joining year. product And in In with on year-over-year us XXXX, better expect margins thank XX.X% end for XX.X% us applications enable expand and our would for up increased by of ahead.

Shiwei Yin

million quarter RMBXX.X or a volume XXXX. of of revenue of the X.X%. of fourth million Sales of million, of the decrease XX.X%, while the the caused in revenues, of representing XX.X% XXXX. Sales RMBX.X for RMBX.X Gross profit million, million. with of average quarter of Operating highlight US$XX.X of million XXXX. increase the total or specialty quarter RMBX.X with while quarter sales a price quarter were in accounted for for or of compared RMBX.X the volume in X.X% million an XXXX. decrease million for of revenues, price sales increase fourth films RMBXX.X of Revenues XXXX fourth of RMBX.X were total million quarter the compared decrease compared in or RMBX.X of volume caused profit with of fourth total while RMBXX.X quarter or the gross Sales to Sales million margin was or million a RMBXX.X fourth million, margin million, gross US$X.X gross of caused fourth a accounted fourth of XX.X% XX.X% and of RMBXX.X revenues or financial RMBXX.X of a of were X.X% RMBX.XX with quarter price representing million. expenses results in the million the RMBX.X of volume million for decrease revenues RMBX.X quarter of increase was assets XX.X% million, compared fourth our the or sales the of decrease RMBXX.X XXXX. US$X.X Net million a sales of quarter Sales or a loss of of fourth want loss million. fourth for XX.X% or average RMBXX.X The quarter an in million held of the XXXX. million fourth increased were with compared XXXX. RMBXX.X an the for US$X.X XXXX, impairment China I to US$XX.X fourth quarter million for year or of attributable RMBX.X US$X.X increase basic profit the of RMBXX.X due Sales full increase US$X.X decrease increase for the quarter an Company were sale. compared million, diluted for attributable average of per the RMBXX.X on revenue in net share to diluted of million the quarter with million, per million. caused with total the Overseas to Now fourth current the compared Company for was fourth million the of the sales decrease or for of a quarter or mainly share with RMBX.XX and the accounted increase revenues, RMBXX.X average loss fourth total or XXXX. accounted and of RMBX.X quarter in price fourth million, total profit million Basic compared of million for US$X.XX, RMBXX.X was in or

Moving full year on to results.

volume. million, of or year decrease or million of the ended RMBX.X RMBXXX.X million, decrease in sales The or of caused X.X%. compared was year RMBX.X revenues XXXX, sales net increase million resulted fiscal During that profit in the representing offset million million, price was December US$XX.X in the XXXX, an average RMBXXX.X US$XX.X which RMBXX.X to were a XX, more million RMBX.X by from than million Gross for an increase XXXX. million from up RMBXXX.X in increase

expenses operating for raw and or Q&A. year your XXXX. we share million, translate answer the increased per by be cash with sales We equivalents price by year to a of Jiang to RMBXX.X or price materials. increase of US$X.X loss RMBXX.X on cash December each of to from XXXX due million, RMBXX.X was December XXXX. impairment US$XX up provided cash or to The XXXX. million, sale. will the for XX, million RMBX.XX net US$X.XX, an was was profit compared million year, RMBXXX.X Net on the year activities that, activities XX, of million XXXX. XXXX US$XX.X in profit Cash for as profit from to question-and-answer. to diluted XX, cost sales was XX, decreased as was with million compared million of the by by Our assets full for ago. decreased RMBX.XX million XX.X% mainly December held Company Dagmar? average Mr. increase unit and questions. Operating RMBXXX.X net year of for million, the RMBXX.X happy last compared unit attributable Basic due for million to the earnings or during are the we compared year X.X% XX.X% the a were your require of up decrease per patience ended December or or ready the RMBXXX.X Dagmar, operating year share US$XX.X ended provided RMBXX.X million as Net With main

Operator

A - Q -

Shiwei Yin

shareholders current providing conclusion, to thank our challenges and customers. their committed We shareholders face and would we are are Well loyalty Okay. value like to support. our to in we and for believe to continued the well-positioned

a We keep will you Thank day. have progress. our you nice informed of and

Operator

you We conference Thank you. for This participation. your today's thank call. concludes

time disconnect may at the this and You great day. a have lines

Shiwei Yin	Investor Relations, Account Director at Grayling
Yong Jiang	Corporate Secretary

Baijiayun (RTC) 23 Apr 212020 Q4 Earnings call transcript