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December 24, 2013
08:04 EDTFFHLFuwei Films reports notice of proposed public auction of controlling interest
Fuwei Films has received a fourth notice from its controlling shareholder, the Weifang State-owned Assets Operation Administration Company, a wholly-owned subsidiary of Weifang State-owned Asset Management and Supervision Committee indicating that the Administration Company has determined to place control over 6,912,503 of its outstanding ordinary shares up for sale at a fourth public auction to be held in the People's Republic of China after the third public auction, held on October 16, failed due to a lack of bidders registered for the auction. These shares are currently held indirectly through an intermediate holding company, Apex Glory Holdings Limited, all of whose shares are the subject of the public auction. The indicative target price for the fourth auction is RMB112,000,000, which is 80% of the indicative target price for the third auction, approximately $18.448M, or approximately $2.67 per ordinary share of Fuwei Films held by Apex Glory. The fourth auction regarding Apex Glory is to be held on January 7, 2014 and will be run by Shandong Jialian Auction Co., Ltd. and Shandong Outstanding Auction Co., Ltd. Fuwei Films expects to follow the change in control resulting from the public auction process closely and will provide relevant updates to the market as soon as the results are known in the PRC.
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April 11, 2014
16:03 EDTFFHLFuwei Films reports Q4 RMB(0.04) vs. RMB(0.96) a year ago
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