Fuwei Films Provides Transaction Update

Fuwei Films (Holdings) Co., Ltd. (Nasdaq: FFHL) (“Fuwei Films” or the “Company”), a manufacturer and distributor of high-quality BOPET plastic films in China, previously announced that the Company had entered into a Securities Purchase Agreement with Gold Glory Blockchain Inc. (“Gold Glory”), a California-headquartered company focused on blockchain technology applications and digital asset services. Gold Glory is undergoing financial audit. The Company has been informed that an estimated additional three months may be required to obtain the auditor’s report of Gold Glory for the period ended June 30, 2019. Fuwei will provide further updates when available. While no formal amendment reflecting the extension has been entered into by the parties, the Company expects to proceed to completion on the modified timetable.  In the absence of a binding extension, however, Gold Glory may determine to proceed at its own discretion.

SOURCE Fuwei Films (Holdings) Co., Ltd.