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News Breaks
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May 19, 2011
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| 07:59 EDT |  | FFHL |
| theflyonthewall.com: | Fuwei Films completes ownership transfer and continues listing on NASDAQ | | Fuwei Films received a second notification on May 17 from the Weifang State-Owned Assets Operation Administration Company, a wholly-owned subsidiary of Weifang State-Owned Asset Management and Supervision Committee, regarding the transfer of ownership of Fuwei stock previously controlled by the company's major shareholders. As a result of the transfer, the company believes that 65.45% of its outstanding ordinary shares are controlled indirectly by the Administration Company. In light of the completion of the major shareholders' ownership transfer, NASDAQ issued a notification on May 18 informing the company that it is in compliance with all applicable listing standards. As a result, the scheduled hearing before the Hearings Panel has been cancelled, and the company's ordinary shares will continue to be listed and trade on Nasdaq. :theflyonthewall.com |
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