Q3 2020 Fuwei Films (Holdings) Co Ltd Earnings Call

Good day, ladies and gentlemen, and walk on to the family films third quarter 2020 earnings Conference call. All lines have been placed on on listen only mode and the floor will be opened for your questions and comments following the presentation.

It's time and it's my pleasure to turn the floor of a to your host Mr. shied away again, so the floor is yours.

And reminds you that today's call is being recorded for replay and is called and made available shortly after the conclusion and it's called.

And so we start we'd like to remind you that certain statements that are not historical facts and major we'd of course on this conference call about future events and.

Checking deposits results constitute forward looking statements are made pursuant to the safe Harbor provisions and private Security Litigation Reform Act and 1995.

You know that a company is actually also may differ materially from those projected and these statements due to a variety of factors affecting the business.

[noise] are subject to risks and uncertainties discussion on the factors that may affect future results is contained in our filings with the U.S. and Securities and Exchange Commission.

We undertake no obligation to correct or update any forward looking statements provided as a result from new information future events or changes in our expectations.

And Mr., John Corporate Secretary before I walk you through our financials Mr. Charles and the various opening remarks, Sir. Please go ahead.

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[noise] tree and Bourbon and the outbreak of the COVID-19 pandemic, which has caused significant adverse effects on the global economy or orders remain solid and sales are relatively stable sales and specialty films increased continuously Richard catheter force.

The 4.6% of our total revenues during the quarter.

In addition, we maintained profitability from.

Six consecutive quarters we.

We believe these results and benefit from our commitment to innovation and differentiated and marketing strategy, which have expenses at the end use applications that are from products.

Continuing with these efforts and expect that they will and neighborhood and capitalize on new opportunities despite challenging industry and you cannot make conditions.

Our financial results from share corridor, and first time on sales of 2020.

Whatever were RMB 84.3 million U.S. and talk about implementing and prepare to R&D and <unk>.

Non clinch extending and your and same period from 2019, representing a year over year increase of RMB seven going again.

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The decrease in average sales price caused a decrease of RMB 3.2 million and and shows volume increased costs and increased RFP 7.9 million.

[noise] specialty films for R&D, and <unk> point, 4 million U.S. equal German and again or 64.6% of total revenues as compared to RMB 40.6 million working to 1.0 per share in the same period in 2019%.

Presenting on a year over year increase of RMB, 13 point and again or.

<unk>, 34.0% as compared to the same period in 2019.

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If sales price caused a decrease of RMB 2.0, moving and and the increase in sales volume caused an increase of RMB 15.8 million.

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Or and that went to extend from total revenues.

Correct.

And 0.6, net again or 14.6 percentage total revenues and third quarter of 2019.

Yes.

Price caused a decrease of RMB 7.6, and again and the decreasing sales volume resulted in a decrease of RMB 3.2 million.

[noise] and be 36 point, Germany, and Usfive point Threemillion third quarter.

Margin be appointed throughput and 7% as compared to gross profit of RMB 21.6, moving in and of course margin rate of 27.1% and things same period and 2019.

Chris.

Great increased by 15.6 percentage points compared to the same period in 2019.

Third quarter were RMB 20 points and <unk> Milligan you was 3.1 meeting on it which was RMB 4.6 million worth 20, and 22% hires and the same period in 2019.

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Due to the change from accounting estimate and cost increase and crew and appreciation on their production line.

Yes.

Company during the third quarter was RMB 13 point in fact, many and U.S. took on Germany, and compared to and profit and should be considered a company of RMB 3.4 healing and during the same period and 2019.

Representing an increase in profit RMB 10.1 million.

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Sales during the first time on so were RMB 250, quite important and you get RMB 36.9 million compared to RMB 248.8 million share in the same period in 2019, representing an increase of RMB 1.6 million or 0.6%, mainly due to increasing sales volume.

Yes.

Especially phones were RMB 142.4 million U.S. 21.0, many assets or could be 6.9% of total revenues as compared to RMB under and 14.7 million on.

And 46.1% and same period of 2019.

You 27, considering many and or 24.1% compared to the same period last year.

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It's caused a decrease of RMB 6.0 money and and the increase in sales volume caused an increase of RMB seven day.

Hi months were RMB 21.1 million U.S. $3.1 million or.

What percentage of total revenue compared with RMB 42.2 million or 16.9% of total revenues and the same period in 2019.

<unk> lower than the same period in 2019 and the decrease in sales volume resulted in a decrease of RMB 21.6 million and the increase.

And.

The increase of the average sales price caused an increase of RMB airport and 5%.

He Andre and point to mitigate and U.S. 14.8, many and for the first time on ended September 30, good to go on 20.

Okay, and you and gross margin of 40.0% as compared to a gross margin of 21.2% on same period and.

And 2019.

Correspondingly gross margin increased by 18.8 percentage points.

Sounds good price increase or decrease price airport and I present compares and same period last year, while the average cost of goods sold decreased by 24 plants and present.

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[noise] for same on its were RMB 54, or five and 7 million U.S. people and 1 million compared to RMB 44.9, and getting it and its impurities and just COVID-19, which was RMB and 20 million or 21.8% higher than the same period interest in 2019.

This increase.

Change of accounting estimate, which caused the increase and crew depreciation on their production line.

Company during the first time and she was RMB 40.5 million U.S. 6.0 million parents and net profit attributable to the company of RMB 1.0 million share in same period and you got 19, representing an increase of RMB 30, I couldn't find many and trends.

And with here and do that gene fusion factors described.

And your shipping cash total RMB 88.8 million U.S. 13.1 million as of September Thirtyth 2020.

On shareholders equity was RMB 248.7 million U.S. 36.6 day.

Kurt shareholders for their continued loyalty and support to leap, we are well positioned to face sticks on challenges.

And are committed to providing value to shareholders and customers.

And we'll keep you informed of our progress.

Got you and your questions.

And.

We tried to date and his question and answer Jeff.

Yes, please begin the <unk>.

Thank you, ladies and gentlemen, and the star one if you have a question or comment on star.

Star one on your telephone keypad.

[noise], so far I have not heard anyone signal, but again it is star one if you have a question or comment at this time.

And we do not have any questions signal and I'll turn the conference back for any additional or closing comment.

Today's conference call, we look forward to be in touch with you and keep you updated on our privacy and future ex you and have a nice day.

Ladies and gentlemen that will conclude today's call. We thank you for your participation you may disconnect at this time and have a great day.

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