Fuwei Films Announces It Will Respond to the Second Round Antidumping Administrative Review of BOPET Films

BEIJING, Jan. 25, 2011 /PRNewswire-Asia-FirstCall/ -- Fuwei Films (Holdings) Co., Ltd. (Nasdaq: FFHL) ("Fuwei Films" or the "Company"), a manufacturer and distributor of high-quality BOPET plastic films in China, today announced that the Company will voluntarily respond to the second round antidumping administrative investigation of Chinese BOPET exporters.

On December 28, 2010, the US Department of Commerce ("USDOC") began a routine second round annual review of Chinese BOPET exporters, and six Chinese producers, including Fuwei, are required to participate in the review. Although Fuwei is not among the USDOC list of mandatory respondents, Fuwei will actively respond to the review because the Company believes it is in full compliance and the US market has strategic significance for the long-term development of the Company.

In 2007, USDOC conducted an anti-dumping investigation of BOPET films manufactured in China. On September 2008, the final decision was released and Fuwei was one of five Chinese BOPET film manufacturers to receive the lowest anti-dumping duty (ADD) rate of 3.49%.

On January, 2010, USDOC began the first round routine annual review. The final determination of this review will be made in February 2011.

Since 2007, the percentage of Fuwei's export business to the US has declined substantially. In 2010, sales to the US market represented less than 1% of Fuwei's annual total sales volume.

About Fuwei Films

Fuwei Films conducts its business through its wholly owned subsidiary Shandong Fuwei Films Co., Ltd. ("Shandong Fuwei"). Shandong Fuwei 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 about the Company, please visit the Company's website at http://www.fuweiholdings.com.

Safe Harbor

This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.

The forward-looking statements included in this press release are subject to risks, uncertainties and assumptions about our businesses and business environments. These statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual results of our operations may differ materially from information contained in the forward-looking statements as a result of risk factors some of which are include, among other things, competition in the BOPET film industry; growth of, and risks inherent in, the BOPET film industry in China; uncertainty as to future profitability and our ability to obtain adequate financing for our planned capital expenditure requirements; uncertainty as to our ability to continuously develop new BOPET film products and keep up with changes in BOPET film technology; risks associated with possible defects and errors in our products; uncertainty as to our ability to protect and enforce our intellectual property rights; uncertainty as to our ability to attract and retain qualified executives and personnel; and uncertainty in acquiring raw materials on time and on acceptable terms, particularly in view of the volatility in the prices of petroleum products in recent years.

SOURCE Fuwei Films (Holdings) Co., Ltd.

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