FFHL - Fuwei Films gains on achieving positive trends in mix of sales for Q2

Fuwei Films (FFHL +4.0%) rallies following its Q2 earnings report, where net profit of RMB19.8M vs. RMB14.1M a year-ago or per basic and diluted share of RMB6.06 vs. RMB4.30 a year-ago. The Co. continued to achieve positive trends in its mix of sales, especially sales of specialty films which accounted for 68.6% of total revenues. Segment sales: Stamping and transfer film RMB21.76M (+21.6% Y/Y); Printing films RMB5.23M (+5.2% Y/Y); Metallization film RMB1.09M (+1.1% Y/Y); Specialty film RMB68.98M (+68.6% Y/Y) and Base film for other application RMB3.52M (+3.5% Y/Y). Overseas sales were RMB13.4M or 13.3% of total revenues, the increase of average sales price caused an increase of RMB0.6M and the increase in sales volume resulted in an increase of RMB5.3M. Gross profit was RMB39.9M; representing a gross profit rate of 39.6% which was declined of 200 bps Y/Y. Cash, equivalent and restricted cash totaled RMB176.1M as of June 30, 2021 and total shareholders' equity was RMB279M. “I would

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Fuwei Films gains on achieving positive trends in mix of sales for Q2