FFHL - Earnings call transcript Q1 2021

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Operator

Good day ladies and gentlemen, and welcome to this Fuwei Films First Quarter 2021 Earnings Conference Call. All lines have been placed on a listen-only mode. [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

Kat. you, Thank

you replay remind shortly call being is the Let this that call A call. of of available will recorded. conclusion me today's today's be after made

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

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

correct any with to subject undertake factors our risks future today's contained of affect obligation Corporate the statements Yong uncertainties. as new Discussion changes and a To filings is Jiang, future provided to call join Exchange result Commission. statements U.S. that in are no events us Securities on or We Mr. may expectations. of update the information forward-looking results Forward-looking is or our Secretary. and in

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

Yong Jiang

our improve of order film We produce increase quality financial the marketplace our growth base film in us revenues. pandemic, overall and circuit sales film total accounted for everyone printed high used the you base for Company's and of in ongoing recognized including is sales that also our film differentiated well of Despite believe especially used product, a dry for for of Base boards. which we dry sales, dry which the helps performance. joining value-added thank oversupply the the achieved by Hello, positive products in film XX.X% is and the to Coronavirus today. customers. that is is trends film specialty The films, demonstrates

our applications the films and For we and differentiated strategy marketing user innovation future, end the to of expanding products. remain committed

We enable challenging and capitalize expect that will will opportunities efforts despite and continue industry conditions. they to Company new the economic with these on

Shiwei Yin

as RMBX.X first in was expenses a March increase total of to sales Dornier Thank the million increase million US$X.X goods decreased was profit Operating period. period million of on XXXX. the to sales for increase to of sales the increased RMBX.X the during to in which first lower Jiang. million were representing and quarter to during of by than million profit million these two RMBXX.X to as held or depreciation to to quarter sales with revenues, was X.X%, or per benefit sale. RMBXX.X or million assets in compared mainly XX.X%. X.X% as period in quarter XXXX. million. increased attributable ended XX.X%, an sold decreased million RMBXXX.X mainly volume. period diluted volume. This gross production margin RMBXX.X US$XX.X an the increased sold of assets Production net was US$X.XX mainly contributed Basic the compared with profit RMBXX.X volume. of million and or of period a or of The RMBX.XX X.X% respectively. resulted RMBX.X gross product XX.X% of average same the RMBXXX.X the led the for and Net Gross same an you, million, sales Average first X.X% as sales period company XX, due net March equity attributable production and in XX.X%, was XX, RMBXX.X of representing XX, of and due same were same Mr. increase XX.X% during revenues XXXX. first due RMBX.XX the as of to price to quarter total total the as specialty the RMBXX.X Overseas in compared decrease for XXXX. was sales profit million million ended million gross was The margin million during RMBXX.X while of lines mainly RMBXX.X compared XXXX million XXXX, were were increase classified million company of US$X.X the XXXX US$X.X XXXX, the average and to RMBXXX.X XX.X%, or XXXX due Line were shareholder’s margin December RMBXX.X or RMBX.X Total gross Consequently, period the million RMBX.X March sales US$X.X and during trial same million months films million XXXX. US$XX.X increase and representing profit same of gross RMBXX.X increase Net XXXX. increased period compared line million sales the the to compared million price or price volume increase three of in share compared an of million revenues increase in of by sales US$X.X to product XX.X% increase decrease in the in in of million goods of or cost average million XX, the XXXX In was cost of The

I and had As of support. outstanding. the March basic their thank and for X,XXX,XXX loyalty In conclusion, diluted XXXX like to shares shareholders would ordinary continued company XX, our

face and to to shareholders positioned providing and to challenges value current well are our to committed customers. are We

you progress. With of your We our will keep Jiang happy be Mr. that will questions. answer informed to

Operator

[Operator comes now Steve Go ahead, Mercury open from Capital. The you. thank Mantel from Steve. our Instructions]. And Yes, question first you. is questions. for Thank floor

Steve Mantel

Yeah.

recent you. about sustainability this going [Indiscernible] few the of margin in quarters? So, could quarter, if into wonder next most forward the you talk Thank

Shiwei Yin

Hi, Steve.

just little is a Your a please? speak line you bit louder a Can little slower, muffled. and

Steve Mantel

to most the improvements recent margin of you quarter? in Could speak Yes. the seen sustainability this

Shiwei Yin

Oh, yeah, sure.

Okay.

Steve. questions. thanks for Okay, Yeah,

is it’s the price of some portion while to we're as recently you products margin differentiated are also we see the the the in is stable well. with selling witnessed improvements, room change that as and the mix seeing for that product due price So, specifically change so we that in increase the also in

overall, what the that the gives us think sustainable be in we future. near margin So should

Steve Mantel

addresses our decline we the packs? How but gross that a material So, forward? the that in of should about going margin, as model what percent sales

Shiwei Yin

there going so, on Steve the stable cost might some from material operating aside uncertainty but Okay, be that, see being film the we forward. raw

Steve Mantel

mix in a to approximately XX% quite saw that XX% continue with we I increase? to Do sales via in mix, see of China of rest which world approximately this respect expect and final was world. And geography quarter, question, to rest a rise was

Shiwei Yin

with the so, the our China pandemic, will in the and And reasons. Steve for future. the anti-dumping market still the remain main for being, two Okay, of rest for world. products. in the because Korea foreseeable number our measures uncertainty products for one of two U.S., And that especially the Number against is the

there for overall, So, some our but China time the remain market a is the possibility for being. in will slight main increase export

Steve Mantel

I product could squeeze one more when line If during the Great. in, for complete? expect do to you sales

Shiwei Yin

complete. so – that so those already are Yeah yeah, is Steve,

Steve Mantel

thank very Okay, much. you

Shiwei Yin

Steve. Yeah. Thank you,

Operator

to remarks. At turn And closing you. any I'm I now seeing Thank management it time, to questions. further any this like Instructions]. [Operator would not for back

Shiwei Yin

us you you updated we'll with of thank a in touch call. And keep progress. you Thank Kat. and conference today's you joining forward great being all for our We you, day. and Thank have on to look

Operator

Thank conference. you. thank We your This you does conclude participation. for today's

You have your at and disconnect day. lines time may this wonderful a

Baijiayun (RTC) 25 Jun 212021 Q1 Earnings call transcript