BEIJING, Nov. 28 Fuwei Films (Holdings)Co. Limited (Nasdaq: FFHL), a manufacturer and distributor of high-qualityBOPET plastic film located in China, today announced that upon its auditcommittee's review and approval, it has signed an engagement letter withKabani & Company, Inc., which became the Company's new independent accountingfirm effective November 22, 2007.
Ms. Cindy Lu, Fuwei Films' Chief Financial Officer, commented, "We arepleased to have engaged Kabani & Company as our new independent accountants asthey have an excellent reputation for providing a broad range of dedicatedservices to public companies, and they have auditing experience in both themanufacturing sector and in China."
One of Kabani & Company's first tasks will be to conduct a review of theCompany's 2007 third quarter financial results to ensure compliance with U.S.GAAP.
About Kabani & Company
Kabani & Company, Inc., Certified Public Accountants, is a growing publicaccounting and consulting firm located in Southern California. It servicespublic and private clients of all sizes and in a variety of industriesincluding high tech, service, hospitality, construction and manufacturing.Kabani & Company performs audits and reviews for SEC filings and works withforeign clients through its division, Kabani International, with auditservices in China. The firm is a member of the American Institute of CertifiedPublic Accountants, California Society of Certified Public Accountants and isregistered with Public Company Accounting Oversight Board (PCAOB). In 2006,Kabani & Company, Inc. was rated by "Public Accounting Report (PAR)," anational monthly newsletter in the United States, as one of America's top 30SEC auditors and also the second fastest-growing accounting firm. For furtherinformation, please go to http://www.kabanico.com .
About Fuwei Films
Fuwei Films conducts its business through its wholly owned subsidiaryShandong Fuwei Films Co., Ltd. Shandong Fuwei develops, manufactures anddistributes high-quality plastic films using the biaxial oriented stretchtechnique, otherwise known as BOPET film (biaxially oriented polyethyleneterephthalate). Fuwei's BOPET film is widely used to package food, medicine,cosmetics, tobacco and alcohol, as well as in the imaging, electronics, andmagnetic products industries.
For more information about the Company, please visit the Company's Websiteat http://www.fuweiholdings.com .
This press release contains information that constitutes forward-lookingstatements made pursuant to the safe harbor provisions of the PrivateSecurities Litigation Reform Act of 1995. Any such forward-looking statementsinvolve risk and uncertainties that could cause actual results to differmaterially from any future results described by the forward-looking statements.Risk factors that could contribute to such differences include those mattersmore fully disclosed in the Company's reports filed with the Securities andExchange Commission. The forward-looking information provided hereinrepresents the Company's estimates as of the date of the press release, andsubsequent 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 informationshould not be relied upon as representing the Company's estimates of itsfuture financial performance as of any date subsequent to the date of thispress release.
The forward-looking statements included in this press release are subjectto risks, uncertainties and assumptions about our businesses and businessenvironments. These statements reflect our current views with respect tofuture events and are not a guarantee of future performance. Actual results ofour operations may differ materially from information contained in theforw