Document And Entity Information
Document And Entity Information | 12 Months Ended |
Dec. 31, 2015shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2015 |
Document Fiscal Year Focus | 2,015 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | Fuwei Films (Holdings), Co. Ltd. |
Entity Central Index Key | 1,381,074 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Non-accelerated Filer |
Trading Symbol | FFHL |
Entity Common Stock, Shares Outstanding | 13,062,500 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS ¥ in Thousands, $ in Thousands | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) |
Current assets | |||
Cash and cash equivalents | $ 2,216 | ¥ 14,355 | ¥ 9,020 |
Restricted cash | 6,671 | 43,215 | 48,085 |
Accounts and bills receivable, net | 1,551 | 10,046 | 9,867 |
Inventories | 4,565 | 29,574 | 24,034 |
Advance to suppliers | 871 | 5,640 | 7,512 |
Prepayments and other receivables | 3,139 | 20,334 | 18,772 |
Deferred tax assets - current | 222 | 1,438 | 2,794 |
Total current assets | 19,235 | 124,602 | 120,084 |
Property, plant and equipment, net | 66,538 | 431,021 | 482,534 |
Construction in progress | 262 | 1,700 | 366 |
Lease prepayments, net | 2,761 | 17,882 | 18,406 |
Advance to suppliers - long term, net | $ 222 | ¥ 1,440 | 722 |
Long-term deposit | 16,760 | ||
Other Assets | $ 1,792 | ¥ 11,607 | 12,500 |
Deferred tax assets - non current | 2,396 | 15,519 | 21,573 |
Total assets | 93,206 | 603,771 | 672,945 |
Current liabilities | |||
Long-term loan, current portion | 517 | 3,350 | 3,350 |
Due to related parties | 22,088 | 143,080 | 125,938 |
Accounts payables | 5,057 | 32,760 | 29,484 |
Notes payable | 13,242 | 85,780 | 95,539 |
Advance from customers | 347 | 2,247 | 3,392 |
Accrued expenses and other payables | 1,340 | 8,682 | 6,095 |
Obligations under capital leases-current | 47 | 302 | 8,259 |
Total current liabilities | $ 42,638 | ¥ 276,201 | 272,057 |
Obligations under capital leases | 303 | ||
Long-term loan | $ 509 | ¥ 3,300 | 6,650 |
Deferred tax liabilities | 835 | 5,406 | 5,816 |
Total liabilities | 43,982 | 284,907 | 284,826 |
Shareholders' equity | |||
Registered capital (of US$0.129752 par value; 20,000,000 shares authorized; 13,062,500 issued and outstanding) | 2,057 | 13,323 | 13,323 |
Additional paid-in capital | 48,150 | 311,907 | 311,907 |
Statutory reserve | 5,780 | 37,441 | 37,441 |
Retained earnings | (6,796) | (44,022) | 25,043 |
Cumulative translation adjustment | 162 | 1,049 | 1,199 |
Total shareholders' equity | 49,353 | 319,698 | 388,913 |
Non-controlling interest | (129) | (834) | (794) |
Total equity | 49,224 | 318,864 | 388,119 |
Total liabilities and equity | $ 93,206 | ¥ 603,771 | ¥ 672,945 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Dec. 31, 2015 | Dec. 31, 2014 |
Registered capital, Par or Stated Value Per Share (in dollars per share) | $ 0.129752 | $ 0.129752 |
Registered capital, Shares Authorized | 20,000,000 | 20,000,000 |
Registered capital, Shares, Issued | 13,062,500 | 13,062,500 |
Registered capital, shares outstanding | 13,062,500 | 13,062,500 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015USD ($)$ / sharesshares | Dec. 31, 2015CNY (¥)¥ / sharesshares | Dec. 31, 2014CNY (¥)¥ / sharesshares | Dec. 31, 2013CNY (¥)¥ / sharesshares | |
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) [Abstract] | ||||
Net sales | $ 38,418 | ¥ 248,862 | ¥ 284,464 | ¥ 304,950 |
Cost of sales | $ 38,418 | 248,866 | 301,617 | 320,375 |
Gross loss | (4) | (17,153) | (15,425) | |
Operating expenses: | ||||
Selling expenses | $ 2,224 | 14,404 | 15,202 | 16,839 |
Administrative expenses | 6,107 | 39,559 | ¥ 28,337 | ¥ 32,130 |
Loss on impairment of assets | 1,114 | 7,219 | ||
Total operating expenses | 9,445 | 61,182 | ¥ 43,539 | ¥ 48,969 |
Operating loss | (9,445) | (61,186) | (60,692) | (64,394) |
Other income (expense): | ||||
- Interest income | 191 | 1,236 | 1,297 | 1,024 |
- Interest expense | (1,286) | (8,333) | (12,486) | (10,094) |
- Others income (expense), net | 959 | 6,215 | (203) | 4,505 |
Total other income (expense) | (136) | (882) | (11,392) | (4,565) |
Loss before provision for income taxes | (9,581) | (62,068) | (72,084) | (68,959) |
Income tax (expense) benefit | (1,081) | (7,000) | 740 | 10,007 |
Net loss | $ (10,662) | (69,068) | (71,344) | (58,952) |
Net income (loss) attributable to noncontrolling interests | (3) | (17) | 19 | |
Net loss attributable to the Company | $ (10,662) | (69,065) | (71,327) | (58,971) |
Other comprehensive income (loss): | ||||
- Foreign currency translation adjustments attributable to noncontrolling interest | (6) | (37) | (18) | 22 |
- Foreign currency translation adjustments attributable to the Company | (23) | (150) | (67) | 44 |
Comprehensive income (loss) attributable to non-controlling interest | (6) | (40) | (35) | 41 |
Comprehensive loss attribute to the Company | $ (10,685) | ¥ (69,215) | ¥ (71,394) | ¥ (58,927) |
Net loss per share, Basic and diluted (dollars in per share) | (per share) | $ (0.82) | ¥ (5.29) | ¥ (5.46) | ¥ (4.51) |
Weighted average number ordinary shares, Basic and diluted (in shares) | 13,062,500 | 13,062,500 | 13,062,500 | 13,062,500 |
CONSOLIDATED STATEMENTS OF EQUI
CONSOLIDATED STATEMENTS OF EQUITY ¥ in Thousands, $ in Thousands | USD ($) | CNY (¥) | Ordinary Shares [Member]USD ($)shares | Ordinary Shares [Member]CNY (¥)shares | Additional Paid-in Capital [Member]USD ($) | Additional Paid-in Capital [Member]CNY (¥) | Statutory Reserve [Member]USD ($) | Statutory Reserve [Member]CNY (¥) | Retained Earnings [Member]USD ($) | Retained Earnings [Member]CNY (¥) | Accumulated Other Comprehensive Income (Loss) [Member]USD ($) | Accumulated Other Comprehensive Income (Loss) [Member]CNY (¥) | Total Shareholders' Equity [Member]USD ($) | Total Shareholders' Equity [Member]CNY (¥) | Non-controlling Interest [Member]USD ($) | Non-controlling Interest [Member]CNY (¥) |
Balance at Dec. 31, 2012 | ¥ 518,434 | ¥ 13,323 | ¥ 311,907 | ¥ 37,441 | ¥ 155,341 | ¥ 1,222 | ¥ 519,234 | ¥ (800) | ||||||||
Balance, shares at Dec. 31, 2012 | shares | 13,062,500 | 13,062,500 | ||||||||||||||
Net income (loss) | ¥ (58,952) | ¥ (58,971) | ¥ (58,971) | ¥ 19 | ||||||||||||
Transfer to statutory reserve | ||||||||||||||||
Foreign currency translation adjustment | ¥ 66 | ¥ 44 | ¥ 44 | ¥ 22 | ||||||||||||
Balance at Dec. 31, 2013 | 459,548 | ¥ 13,323 | ¥ 311,907 | ¥ 37,441 | ¥ 96,370 | ¥ 1,266 | 460,307 | (759) | ||||||||
Balance, shares at Dec. 31, 2013 | shares | 13,062,500 | 13,062,500 | ||||||||||||||
Net income (loss) | ¥ (71,344) | ¥ (71,327) | ¥ (71,327) | ¥ (17) | ||||||||||||
Transfer to statutory reserve | ||||||||||||||||
Foreign currency translation adjustment | ¥ (85) | ¥ (67) | ¥ (67) | ¥ (18) | ||||||||||||
Balance at Dec. 31, 2014 | 388,119 | ¥ 13,323 | ¥ 311,907 | ¥ 37,441 | ¥ 25,043 | ¥ 1,199 | 388,913 | (794) | ||||||||
Balance, shares at Dec. 31, 2014 | shares | 13,062,500 | 13,062,500 | ||||||||||||||
Net income (loss) | $ (10,662) | ¥ (69,068) | ¥ (69,065) | ¥ (69,065) | ¥ (3) | |||||||||||
Transfer to statutory reserve | ||||||||||||||||
Foreign currency translation adjustment | ¥ (187) | ¥ (150) | ¥ (150) | ¥ (37) | ||||||||||||
Balance at Dec. 31, 2015 | $ 49,224 | ¥ 318,864 | $ 2,057 | ¥ 13,323 | $ 48,150 | ¥ 311,907 | $ 5,780 | ¥ 37,441 | $ (6,796) | ¥ (44,022) | $ 162 | ¥ 1,049 | $ 49,353 | ¥ 319,698 | $ (129) | ¥ (834) |
Balance, shares at Dec. 31, 2015 | shares | 13,062,500 | 13,062,500 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Cash flow from operating activities | ||||
Net loss | $ (10,662) | ¥ (69,068) | ¥ (71,344) | ¥ (58,952) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities | ||||
- Loss on disposal of property, plant and equipment | ¥ 101 | ¥ 33 | ||
- Loss on Long-term assets impairment | $ 1,114 | ¥ 7,219 | ||
- Depreciation of property, plant and equipment | 6,872 | 44,515 | ¥ 47,701 | ¥ 48,161 |
- Amortization of intangible assets | 81 | 524 | 524 | 524 |
- Deferred income taxes (benefit) | 1,081 | 7,000 | 303 | (10,007) |
- Bad debt (recovery) expense | (692) | (4,484) | ¥ 30 | ¥ (1,744) |
- Inventory provision | (171) | (1,106) | ||
Changes in operating assets and liabilities | ||||
- Accounts and bills receivable | (16) | (103) | ¥ (1,524) | ¥ 13,615 |
- Inventories | (684) | (4,434) | 14,421 | (4,164) |
- Advance to suppliers | 315 | 2,038 | (535) | 7,909 |
- Prepaid expenses and other current assets | 208 | 1,347 | 1,417 | (398) |
- Accounts payable | 506 | 3,277 | (3,970) | 4,658 |
- Accrued expenses and other payables | 378 | 2,446 | (744) | 38 |
- Advance from customers | (177) | (1,145) | (11,273) | 2,952 |
- Tax payable | (311) | (2,016) | 6,732 | 465 |
Net cash provided by (used in) operating activities | (2,158) | (13,990) | (18,161) | 3,090 |
Cash flow from investing activities | ||||
Purchases of property, plant and equipment | (34) | (222) | (5,559) | (4,416) |
Restricted cash related to trade finance | 754 | 4,884 | (6,656) | (19,974) |
Advanced to suppliers - non current | (111) | (718) | 1,412 | 3,165 |
Amount change in construction in progress | $ (206) | ¥ (1,334) | ¥ 265 | (8,785) |
Interest capitalization related to CIP | ¥ (2,059) | |||
Deposit for purchase | $ 3,242 | ¥ 21,000 | ||
Net cash used in (provided by) investing activities | 3,645 | 23,610 | ¥ (10,538) | ¥ (32,069) |
Cash flow from financing activities | ||||
Principal payments of bank loans | $ (517) | ¥ (3,350) | ¥ (105,000) | (110,000) |
Proceeds from short-term bank loans | ¥ 105,000 | |||
Proceeds from related party | $ 2,646 | ¥ 17,142 | ¥ 125,938 | |
Payment of capital lease obligation | (1,275) | (8,260) | (8,315) | ¥ (8,123) |
Change in notes payable | $ (1,507) | ¥ (9,759) | ¥ 13,549 | 43,691 |
Proceeds from sale-leaseback equipment | 5,000 | |||
Net cash provided by (used in) financing activities | $ (653) | ¥ (4,227) | ¥ 26,172 | 35,568 |
Effect of foreign exchange rate changes | (72) | (58) | (31) | (17) |
Net (decrease) increase in cash and cash equivalent | 762 | 5,335 | (2,558) | 6,572 |
Cash and cash equivalent | ||||
At beginning of period/year | 1,454 | 9,020 | 11,578 | 5,006 |
At end of period/year | 2,216 | 14,355 | 9,020 | 11,578 |
SUPPLEMENTARY DISCLOSURE: | ||||
Interest paid | $ 1,286 | ¥ 8,333 | ¥ 12,486 | ¥ 12,153 |
Income tax paid | ||||
SUPPLEMENTARY SCHEDULE OF NONCASH INVESTING AND FINANCIAL ACTIVITIES: | ||||
Account payable for plant and equipment: | $ 320 | ¥ 2,075 | ¥ 3,070 | ¥ 7,466 |
Obligations for acquired equipment under capital lease: | $ 47 | ¥ 302 | ¥ 8,562 | ¥ 16,877 |
Principal Activities and Reorga
Principal Activities and Reorganization | 12 Months Ended |
Dec. 31, 2015 | |
Principal Activities and Reorganization [Abstract] | |
Principal Activities and Reorganization | (1) Principal Activities and Reorganization Fuwei Films (Holdings) Co., Ltd and its subsidiaries (the Company or the Group) are principally engaged in the production and distribution of BOPET film, a high quality plastic film widely used in packaging, imaging, electronics, electrical and magnetic products in the People's Republic of China (the PRC). The Company is a holding company incorporated in the Cayman Islands, established on August 9, 2004 under the Cayman Islands Companies Law as an exempted company with limited liability. The Company was established for the purpose of acquiring shares in Fuwei (BVI) Co., Ltd (Fuwei (BVI)), an intermediate holding company established for the purpose of acquiring all of the ownership interest in Fuwei Films (Shandong) Co., Ltd. On April 23, 2009, Fuwei Films USA, LLC was set up and co-invested by Fuwei Films (Holdings) Co., Ltd. and Newell Finance Management Co., Ltd. Fuwei Films USA, LLC has a registered capital of US$ 10 100 60 40 On August 14, 2013, the Company announced that it had received the first notice from the its controlling shareholder, the Weifang State-owned Assets Operation Administration Company, a wholly-owned subsidiary of Weifang State-owned Asset Management and Supervision Committee (collectively, the Administration Company) indicating that the Administration Company had determined to place control over 6,912,503 52.9 Four 6,912,503 6,912,503 52.9 101,800 16,573 2.40 On May 12, 2014, the Company announced that it had learned that the successful bidder, Shandong SNTON in the fifth public auction of 6,912,503 52.9 According to publicly available information in the People's Republic of China, Shandong SNTON is a wholly owned subsidiary of Shandong SNTON Group Co., Ltd. (the SNTON Group). Mr. Xiusheng Wang, the chairman of the Board of Directors of Shandong SNTON Group Co., Ltd., is also Hongkong Ruishang's chairman. On May 14, 2014, the Company announced that it received a notification from Shandong Fuhua Investment Company Limited. (Shandong Fuhua) with respect to an entire ownership transfer of the Company's 12.55 12.55 |
Basis of Presentation
Basis of Presentation | 12 Months Ended |
Dec. 31, 2015 | |
Basis of Presentation [Abstract] | |
Basis of Presentation | (2) Basis of Presentation The Group's consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP), as set forth in the Financial Accounting Standards Board's (FASB) Accounting Standards Codification (ASC) and we consider the various staff accounting bulletins and other applicable guidance issued by the United States Securities and Exchange Commission (SEC). This basis of accounting differs in certain material respects from that used in the preparation of the books of account of Shandong Fuwei, the Company's principal subsidiary, which are prepared in accordance with the accounting principles and the relevant financial regulations applicable to enterprises limited by shares as established by the Ministry of Finance of the PRC (PRC GAAP), the accounting standards used in the country of its domicile. The accompanying consolidated financial statements reflect necessary adjustments not recorded in the books of account of the Company's subsidiaries to present them in conformity with U.S. GAAP. |
Summary of Significant Accounti
Summary of Significant Accounting Policies and Practices | 12 Months Ended |
Dec. 31, 2015 | |
Summary of Significant Accounting Policies and Practices [Abstract] | |
Summary of Significant Accounting Policies and Practices | (3) Summary of Significant Accounting Policies and Practices (a) Principles of Consolidation The consolidated financial statements include the financial statements of the Company and its three (b) Foreign Currency Transactions The Group's reporting currency is the Chinese Yuan (Renminbi or RMB). The Company and Fuwei (BVI) operate in Hong Kong as investment holding companies and their financial records are maintained in Hong Kong dollars, being the functional currency of these two 60 Transactions denominated in currencies other than RMB are translated into RMB at the exchange rates quoted by the People's Bank of China (the PBOC) prevailing at the dates of transactions. Monetary assets and liabilities denominated in foreign currencies are translated into RMB using the applicable exchange rates quoted by the PBOC at the balance sheet dates. The resulting exchange differences are recorded in the statements of operations. Commencing from July 21, 2005, the PRC government moved the RMB into a managed floating exchange rate regime based on market supply and demand with reference to a basket of currencies. For the convenience of the readers, the RMB amounts for the year of 2015 included in the accompanying consolidated financial statements in our annual report has been translated into U.S. dollars at the rate of US$ 1.00 6.4778 No RMB is not fully convertible into foreign currencies. All foreign exchange transactions involving RMB must take place either through the PBOC or other institutions authorized to buy and sell foreign currency. The exchange rate adopted for the foreign exchange transactions are the rates of exchange quoted by the PBOC which are determined largely by supply and demand. (c) Cash and Cash Equivalents and Restricted Cash For statements of cash flow purposes, the Company considers all cash on hand and in banks, including certificates of deposit and other highly-liquid investments with maturities of three As of December 31, 2015 and 2014, there were cash and cash equivalents of RMB 14,355 2,216 9,020 As of December 31, 2015 and 2014, there were restricted cash of RMB 43,215 6,671 48,085 (d) Trade Accounts Receivable Trade accounts receivable are recorded at the invoiced amount after deduction of trade discounts, value added taxes and allowances, if any, and do not bear interest. The allowance for doubtful accounts is the Group's best estimate of the amount of probable credit losses in the Group's existing accounts receivable. The Group determines the allowance based on historical write-off experience, customer specific facts and economic conditions. The Group reviews its allowance for doubtful accounts monthly. Past due balances over 90 747 115 825 (e) Inventories Inventories are stated at the lower of cost or market value as of balance sheet date. Inventory valuation and cost-flow is determined using Moving Weighted Average Method basis. The Group estimates excess and slow moving inventory based upon assumptions of future demands and market conditions. If actual market conditions are less favorable than projected by management, additional inventory write-downs may be required. Cost of work in progress and finished goods comprises direct material, direct production cost and an allocated portion of production overheads based on normal operating capacity. (f) Property, Plant and Equipment Property, plant and equipment are stated at cost less accumulated depreciation and allowance for fixed assets impairment. Depreciation on property, plant and equipment is calculated on the straight-line method (after taking into account their respective estimated residual values) over the estimated useful lives of the assets as follows: Years Buildings and improvements 25 30 Plant and equipment 10 15 Computer equipment 5 Furniture and fixtures 5 Motor vehicles 5 Depreciation related to abnormal amounts from idle capacity is charged to administrative expenses for the period incurred. Total depreciations for the years ended December 31, 2015, 2014 and 2013 were RMB 44,515 6,872 47,701 48,161 56.5 85.4 86.7 43.5 14.6 13.3 Construction in progress represented capital expenditure in respect of the BOPET productions line. No (g) Leased Assets An arrangement, comprising a transaction or a series of transactions, is or contains a lease if the Group determines that the arrangement conveys a right to use a specific asset or assets for an agreed period of time in return for a payment or a series of payments. Such a determination is made based on an evaluation of the substance of the arrangement and is regardless of whether the arrangement takes the legal form of a lease. Classification of assets leased to the Group. Assets that are held by the Group under leases which transfer to the Group substantially all the risks and rewards of ownership are classified as being held under capital leases. Leases which do not transfer substantially all the risks and rewards of ownership to the Group are classified as operating leases. Assets acquired under capital leases. Where the Group acquires the use of assets under capital leases, the amounts representing the fair value of the leased asset, or, if lower, the present value of the minimum lease payments, of such assets are included in property, plant and equipment and the corresponding liabilities, net of finance charges, are recorded as obligations under capital leases. Depreciation is provided at rates which write off the cost or valuation of the assets over the term of the relevant lease or, where it is likely the Group will obtain ownership of the asset, the life of the asset. Finance charges implicit in the lease payments are charged to the consolidated income statement over the period of the leases so as to produce an approximately constant periodic rate of charge on the remaining balance of the obligations for each accounting period. Contingent rentals are charged to the consolidated income statement in the accounting period in which they are incurred. Operating lease charges. Where the Group has the use of assets held under operating leases, payments made under the leases are charged to the consolidated income statement in equal installments over the accounting periods covered by the lease term, except where an alternative basis is more representative of the pattern of benefits to be derived from the leased asset. Lease incentives received are recognized in the consolidated income statement as an integral part of the aggregate net lease payments made. Contingent rentals are charged to the consolidated income statement in the accounting period in which they are incurred. Sale and leaseback transactions. Gains or losses on equipment sale and leaseback transactions which result in capital leases are deferred and amortized over the terms of the related leases. Gains or losses on equipment sale and leaseback transactions which result in operating leases are recognized immediately if the transactions are established at fair value. Any loss on the sale perceived to be a real economic loss is recognized immediately. However, if a loss is compensated for by future rentals at a below-market price, then the artificial loss is deferred and amortized over the period that the equipment is expected to be used. If the sale price is above fair value, then any gain is deferred and amortized over the useful life of the assets. (h) Lease Prepayments Lease prepayments represent the costs of land use rights in the PRC. Land use rights are carried at cost and charged to expense on a straight-line basis over the respective periods of rights of 30 (i) Goodwill Goodwill represents the excess of purchase price and related costs over the value assigned to the net tangible and identifiable intangible assets of businesses acquired. Goodwill is not amortized but is tested for impairment annually, or when circumstances indicate a possible impairment may exist. Impairment testing is performed at a reporting unit level. An impairment loss generally would be recognized when the carrying amount of the reporting unit exceeds the fair value of the reporting unit, with the fair value of the reporting unit determined using a discounted cash flow (DCF) analysis. A number of significant assumptions and estimates are involved in the application of the DCF analysis to forecast operating cash flows, including the discount rate, the internal rate of return, and projections of realizations and costs to produce. Management considers historical experience and all available information at the time the fair values of its reporting units are estimated. Goodwill was determined to be fully impaired during the year ended December 31, 2012. (j) Impairment of Long-lived Assets The Company recognizes an impairment loss when circumstances indicate that the carrying value of long-lived assets with finite lives may not be recoverable. Management's policy in determining whether an impairment indicator exists, a triggering event, comprises measurable operating performance criteria at an asset group level as well as qualitative measures. If an analysis is necessitated by the occurrence of a triggering event, the Company uses assumptions, which are predominately identified from the Company's strategic long-range plans, in determining the impairment amount. In the calculation of the fair value of long-lived assets, the Company compares the carrying amount of the asset group with the estimated future cash flows expected to result from the use of the assets. If the carrying amount of the asset group exceeds the estimated expected undiscounted future cash flows, the Company measures the amount of the impairment by comparing the carrying amount of the asset group with their estimated fair value. We estimate the fair value of assets based on market prices (i.e., the amount for which the asset could be bought by or sold to a third party), when available. When market prices are not available, we estimate the fair value of the asset group using discounted expected future cash flows at the Company's weighted-average cost of capital. Management believes its policy is reasonable and is consistently applied. Future expected cash flows are based upon estimates that, if not achieved, may result in significantly different results. The loss on impairment of assets during 2015 and 2014 was RMB 7,219 1,114 0 (k) Revenue Recognition Sales of plastic flexible packaging materials are reported, net of value added taxes (VAT), sales returns, trade discounts. The standard terms and conditions under which the Group generally delivers allow a customer the right to return product for refund only if the product does not conform to product specifications; the non-conforming product is initially identified by customer, and the customer notifies the Group about the situation. After receiving the Group's permission, the non-conforming product may be returned for replacement or refund. The Group recognizes revenue when products are delivered and the customer takes ownership and assumes risk of loss, collection of the relevant receivable is probable, persuasive evidence of an arrangement exists and the sale price is fixed or determinable. In the PRC, VAT of 17 (l) Research and Development Costs Research and development expenditures are expensed as incurred. Research and development costs amounted to RMB 3,619 559 8,005 10,906 (m) Income Taxes Income taxes are accounted for under the asset and liability method. Under guidance contained in FASB ASC 740-10, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. We follow the recognition and disclosure provisions under guidance contained in FASB ASC 740-10-25. Under this guidance, tax positions are evaluated for recognition using a more-likely-than-not threshold, and those tax positions requiring recognition are measured as the largest amount of tax benefit that is greater than fifty e only recognized deferred tax assets for the loss of 2015 after considering the possibility of realizing the benefits under the conservatism principle. (n) Loss per Share Basic earnings (loss) per share is computed by dividing net earnings (loss) by the weighted average number of ordinary shares outstanding during the year. Diluted earnings (loss) per share is calculated by dividing net earnings (loss) by the weighted average number of ordinary and dilutive potential ordinary shares outstanding during the year. Diluted potential ordinary shares consist of shares issuable pursuant to stock option plan. (o) Use of Estimates The preparation of the consolidated financial statements in accordance with U.S. GAAP requires management of the Group to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, management reviews its estimates and assumptions including those related to the recoverability of the carrying amount and the estimated useful lives of long-lived assets, valuation allowances for accounts receivable and realizable values for inventories. Changes in facts and circumstances may result in revised estimates. (p) Noncontrolling interest Non-controlling interest represents the portion of equity that is not attributable to the Company. The net income (loss) attributable to non-controlling interests are separately presented in the accompanying statements of income and other comprehensive income. Losses attributable to non-controlling interests in a subsidiary may exceed the interest in the subsidiary's equity. The related non-controlling interest continues to be attributed its share of losses even if that attribution results in a deficit of the non-controlling interest balance. The non-contolling interest % of entity Fuwei USA was 40 834 129 794 (q) Segment Reporting The Group uses the management approach in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Group's chief operating decision maker for making operating decisions and assessing performance as the source for determining the Group's reportable segments. Management, including the chief operating decision maker, reviews operating results solely by monthly revenue of BOPET film (but not by sub-product type or geographic area) and operating results of Shandong Fuwei, the operating subsidiary in the PRC. As such, the Group has determined that the Group has a single operating segment. (r) Contingencies In the normal course of business, the Group is subject to contingencies, including legal proceedings and claims arising out of the business that relate to a wide range of matters, including among others, product liability. The Group recognizes a liability for such contingency if it determines it is probable that a loss has occurred and a reasonable estimate of the loss can be made. The Group may consider many factors in making these assessments including past history and the specifics of each matter. (s) Reclassification Certain reclassifications have been made to the fiscal year 2015 and 2014 consolidated financial statements to conform to the fiscal 2015 consolidated financial statement presentation. These reclassifications had no (t) Going Concern Matters The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles which contemplate continuation of the company as a going concern. However, as of December 31, 2015, the Company had a working capital deficiency of RMB 151,599 23,403 69,068 10,662 twelve (u) Recently Issued Accounting Standards Simplifying the Measurement of Inventory: Simplifying the Presentation of Debt Issuance Costs: In April 2015, the FASB issued ASU 2015-03-Simplifying the Presentation of Debt Issuance Costs. This standard amends existing guidance to require the presentation of debt issuance costs in the balance sheet as a deduction from the carrying amount of the related debt liability instead of a deferred charge. It is effective for annual reporting periods beginning after December 15, 2015, but early adoption is permitted. The Company is currently evaluating the effect that the adoption of this standard will have on its financial statements. Amendments to the Consolidation Analysis: In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810) Amendments to the Consolidation Analysis. ASU No. 2015-02 eliminates the deferral of the requirements of ASU No. 2009-17, Consolidations (Topic 810) Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities for certain interests in investment funds and provides a scope exception from Topic 810 for certain investments in money market funds. The ASU also makes several modifications to the consolidation guidance for VIEs and general partners' investments in limited partnerships, as well as modifications to the evaluation of whether limited partnerships are VIEs or voting interest entities. ASU No. 2015-02 is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. The Company is currently evaluating the effect that the adoption of this standard will have on its financial statements. Income Statement-Extraordinary and Unusual Items Stock Based Compensation In June 2014, the FASB issued ASU No. 2014-12 (ASU 2014-12), Compensation Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. Disclosure of Going Concern Uncertainties Revenue Recognition Other pronouncements issued by the FASB or other authoritative accounting standards group with future effective dates are either not applicable or not significant to the consolidated financial statements of the Company. |
Accounts and Bills Receivable,
Accounts and Bills Receivable, net | 12 Months Ended |
Dec. 31, 2015 | |
Accounts and Bills Receivable, net [Abstract] | |
Accounts and Bills Receivable, net | (4) Accounts and Bills Receivable, net Accounts receivable consisted of the following: December 31, 2015 December 31, 2014 RMB US$ RMB Accounts receivable 7,861 1,214 8,168 Less: Allowance for doubtful accounts (747 ) (116 ) (825 ) 7,114 1,098 7,343 Bills receivable 2,932 453 2,524 10,046 1,551 9,867 An analysis of the allowance for doubtful accounts for 2015, 2014 and 2013 is as follows: December 31, 2015 December 31, 2014 December 31, 2013 RMB US$ RMB RMB Balance at beginning of year 825 127 795 1,196 Bad debt (recovery) expense (78 ) (12 ) 30 (401 ) Write-offs - - - - Balance at end of year 747 115 825 795 The Group has a credit policy in place and the exposure to credit risk is monitored on an ongoing basis. Credit evaluations are performed on all customers requiring credit over a certain amount. These receivables are due within 7 90 |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2015 | |
Inventories [Abstract] | |
Inventories | (5) Inventories Inventories consisted of the following: December 31,2015 December 31,2014 RMB US$ RMB Raw materials 16,819 2,596 13,221 Work-in-progress 1,667 258 1,873 Finished goods 15,483 2,390 14,429 Consumables and spare parts 611 94 622 Allowance for obsolescence (5,006 ) (773 ) (6,111 ) 29,574 4,565 24,034 |
Prepayments and Other Receivabl
Prepayments and Other Receivables | 12 Months Ended |
Dec. 31, 2015 | |
Prepayments and Other Receivables [Abstract] | |
Prepayments and Other Receivables | (6) Prepayments and Other Receivables Prepayments and other receivables consisted of the following: December 31,2015 December 31,2014 RMB US$ RMB Lease prepayments, current portion 524 81 524 Other receivables 19,810 3,058 18,248 20,334 3,139 18,772 |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment | (7) Property, Plant and Equipment Property, plant and equipment consisted of the following: December 31, 2015 December 31,2014 RMB US$ RMB Buildings 78,769 12,160 77,828 Plant and equipment 764,038 117,946 764,093 Computer equipment 2,449 378 2,459 Furniture and fixtures 13,730 2,120 13,444 Motor vehicles 2,094 323 2,094 861,080 132,927 859,918 Less: accumulated depreciation (422,840 ) (65,275 ) (377,384 ) Impairment of plant and equipment (7,219 ) (1,114 ) - 431,021 66,538 482,534 All of the Group's buildings are located in the PRC. As of December 31, 2015 and 2014, property, plant plus land use rights with carrying value totaling RMB 18,398 2,840 100,659 As of December 31, 2015, the mortgaged floor area of facilities and land use right to the bank is 17,180 43,878 |
Lease Prepayments
Lease Prepayments | 12 Months Ended |
Dec. 31, 2015 | |
Lease Prepayments [Abstract] | |
Lease Prepayments | (8) Lease Prepayments The balance represents the lease prepayments of land use rights of the Group as follows: December 31,2015 December 31,2014 RMB US$ RMB Non-current portion 17,882 2,761 18,406 Current portion - amount charged to expense next year 524 81 524 18,406 2,842 18,930 As of December 31, 2015, parts of prepaid land use rights were pledged to banks as collateral for credit limit in bank (see Note 12). Land use rights amortization for the year ended December 31, 2015, 2014 and 2013 were RMB 524 81 524 454 As of December 31, 2015, prepaid land use rights of the Group included certain parcels of land located in Weifang City, Shandong Province, the PRC, with a net book value of RMB 18,406 2,842 The land use rights for land with area of approximately 43,878 square meters, 5,279 square meters and 25,094 square meters will expire in November 2050, May 2053 and February 2055, respectively. |
Advance to suppliers
Advance to suppliers | 12 Months Ended |
Dec. 31, 2015 | |
Advance To Suppliers [Abstract] | |
Advance to suppliers | (9) Advance to suppliers Historically, we have significant working capital commitments because suppliers of PET resin and additives -based raw materials require us to make prepayments in advance of shipment. Besides, we may make prepayments related to some equipment purchases based on arrangement of contract. Our prepayments to suppliers were recorded either as advances to suppliers, if they are expected to be utilized within 12 months as of balance sheet date, or as long-term prepayments, which was included in the line item advance to suppliers long term in our consolidated balance sheet, if they represented the portion expected to be utilized after 12 months. As of December 31, 2015 and 2014, the current portion of advance to suppliers was RMB 5,640 871 7,512 1,440 222 722 |
Long-term Deposit
Long-term Deposit | 12 Months Ended |
Dec. 31, 2015 | |
Long Term Deposit [Abstract] | |
Long-term Deposit | (10) Long-term Deposit On January 20, 2008, Shandong Fuwei signed a Letter of Intent of Joyinn Capital Increase and Share Expansion (LOI) with Joyinn Hotel Investment & Management Co., Ltd. (Joyinn) and the Shareholder of Joyinn. Joyinn is a legal company of limited liability that registered on May 19, 2006 in Beijing, with registered capital of RMB 50,000 6,236 According to the LOI, Shandong Fuwei deposited RMB 26,000 52,000 97.6 52 5,000 On June 23, 2009, Shandong Fuwei and the Pledger, the major shareholder of Joyinn, agreed that the Pledger would pledge another 19 52 52 71 4,240 681 On July 14, 2009, Shandong Fuwei and Joyinn signed Supplementary Agreement of Letter of Intent of Joyinn Capital Increase and Share Expansion which extends the duration of former agreement to two 2 Upon the expiration of the Supplementary Agreement on January 14, 2010, Shandong Fuwei and the Pledger entered into an agreement pursuant to which the Pledger agreed to transfer a 71 On March 9, 2012, Shandong Fuwei and the Pledger agreed that prior to the approval of the foregoing share transfer, all the related agreements and share pledge terms and conditions will remain in full force and effect. The Pledger's percentage of Joyinn was transferred to Weifang State-Owned Assets Operation Administration Company (the Administration Company) according to the court order. On December 10, 2012, Shandong Fuwei entered into a Share Pledge Agreement with the major shareholder of Joyinn the Administration Company, in which the Administration Company agreed all the terms and conditions in LOI and its Supplementary Agreement. The Administration Company, as the new Pledger, agreed to increase the pledged interest by 71 87.8 On January 12, 2015, Shandong Fuwei received a notice issued by the Administration Company and Joyinn stating that all the agreements previously entered into by the relevant parties have been terminated. Joyinn agreed to return RMB 21,000 21,000 As of December 31, 2015 and December 31, 2014 the total amount of the deposit was zero 16,760 |
Other assets
Other assets | 12 Months Ended |
Dec. 31, 2015 | |
Other Assets [Abstract] | |
Other assets | (11) Other assets Other assets represent loss on sale-leaseback arrangement with International Far Eastern Leasing Co., Ltd. The loss is treated as compensation for the future rentals paid by Shandong Fuwei at a below-market price. The artificial loss should be deferred and amortized in proportion to the amortization of the related leased assets. As of December 31, 2015 and 2014, the total amount of the other assets was RMB 11,607 1,792 12,500 |
Long-Term Bank Loans
Long-Term Bank Loans | 12 Months Ended |
Dec. 31, 2015 | |
Long-term Bank Loans [Abstract] | |
Long-term Bank Loans | (12) Long-term Bank Loans Interest 12-31-2015 12-31-2014 Lender annum RMB US$ RMB LONG-TERM LOANS Weifang Dongfang State-owned Assets Management Co., Ltd. - October 19, 2009 to October 18, 2017 4.41 % 6,650 1,026 10,000 6,650 1,026 10,000 Less: amounts classified as short-term loan - - - Less: long-term loan, current portion (3,350 ) (517 ) (3,350 ) Long-term Loan 3,300 509 6,650 Notes: The principal amounts of the above long-term loans are repayable at the end of the loan period. On November 20, 2009, we signed a long-term loan agreement of RMB 10,000 1,612 eight 3,350 540 3,300 532 2017 five 10 4.41 In April 2014, the Company obtained a loan for a total amount of RMB 105,000 five 15,000 10,000 20 Bank loans outstanding, which are all denominated in Renminbi, are secured and guaranteed as follows: December 31,2015 December 31,2014 December 31,2013 Secured by: RMB US$ RMB RMB Property plant and equipment, Land use right 105,000 Bills receivable - - - - Guarantee company 6,650 1,026 10,000 10,000 Restricted cash - - 6,650 1,026 10,000 115,000 Long-term bank loans maturity for the next five years after December 31, 2015 are as follows: RMB US$ Fiscal 2016 3,350 517 Fiscal 2017 3,300 509 Fiscal 2018 - - Fiscal 2019 - - Fiscal 2010 - - |
Notes Payable
Notes Payable | 12 Months Ended |
Dec. 31, 2015 | |
Notes Payable [Abstract] | |
Notes Payable | (13) Notes Payable The credit line amounting to RMB 45,000 6,950 41,250 3,750 As of December 31, 2015, Shandong Fuwei had banker's acceptances opened with a maturity from three six 85,780 13,242 42,890 6,621 Notes payable consisted of the following: Issuing bank December 31, 2015 December 31, 2014 RMB US$ RMB SPD Bank 85,780 13,242 95,539 85,780 13,242 95,539 |
Accrued Expenses and Other Paya
Accrued Expenses and Other Payables | 12 Months Ended |
Dec. 31, 2015 | |
Accrued Expenses and Other Payables [Abstract] | |
Accrued Expenses and Other Payables | (14) Accrued Expenses and Other Payables Accrued expenses and other payables consisted of the following: December 31,2015 December 31,2014 RMB US$ RMB Other payables 8,682 1,340 6,095 Predicted liability - - - 8,682 1,340 6,095 |
Obligations under capital lease
Obligations under capital leases | 12 Months Ended |
Dec. 31, 2015 | |
Obligations under capital leases [Abstract] | |
Obligations under capital leases | (15) Obligations under capital leases The Group has commitments under capital lease agreements as for a part of new third production line and associated equipment. The lease has terms of 3 December 31,2015 December 31,2014 RMB US$ RMB US$ RMB US$ RMB RMB RMB Present value of the Total minimum lease Interest Present Total Interest Within 1 302 47 304 47 2 - 8,259 8,555 296 After 1 2 - - - - - - 303 306 3 After 2 3 - - - - - - - - - After 3 - - - - - - - 302 47 304 47 2 - 8,562 8,861 299 Less: balance due within one (302 ) (47 ) (8,259 ) - - 303 Details of obligations under capital leases are as follows: December 31,2015 December 31,2014 RMB RMB RMB denominated obligations Fixed interest rate of 6.49 302 8,562 302 8,562 Guarantee deposit of RMB 800 129 |
Revenues
Revenues | 12 Months Ended |
Dec. 31, 2015 | |
Revenues [Abstract] | |
Revenues | (16) Revenues The Company's revenue is primarily derived from the manufacture and sale of plastic flexible packaging materials. During the fiscal year ended December 31, 2015, net revenues were RMB 248,862 38,418 284,464 35,602 12.5 13.5 38,826 3,224 The following table shows the distribution of the Company's revenue by the geographical location of customers, whereas all the Company's assets are located in the PRC: December 31, 2015 December 31, 2014 December 31, 2013 RMB US$ RMB RMB Sales in China 194,226 29,984 241,446 263,076 Sales in other countries (principally Europe, Asia and North America) 54,636 8,434 43,018 41,874 248,862 38,418 284,464 304,950 Overseas sales were RMB 54,636 8,434 22.0 43,018 15.1 The Company's revenue by significant types of films for 2015, 2014 and 2013 was as follows: December 31,2015 December 31,2014 December 31,2013 RMB US$ % of Total RMB % of Total RMB % of Total Stamping and transfer film 103,520 15,982 41.6 % 118,560 41.7 % 142,309 46.7 % Printing film 29,605 4,570 11.9 % 32,987 11.6 % 27,852 9.1 % Metallized film 9,010 1,391 3.6 % 6,397 2.2 % 17,686 5.8 % Specialty film 73,851 11,400 29.7 % 79,609 28.0 % 89,382 29.3 % Base film for other applications 32,876 5,075 13.2 % 46,911 16.5 % 27,721 9.1 % 248,862 38,418 100.0 % 284,464 100.0 % 304,950 100.0 % In 2015, sales of specialty films were RMB 73,851 11,400 29.7 79,609 28.0 5,758 7.2 |
Depreciation and Amortization
Depreciation and Amortization | 12 Months Ended |
Dec. 31, 2015 | |
Depreciation and Amortization [Abstract] | |
Depreciation and Amortization | (17) Depreciation and Amortization Depreciation of property, plant and equipment and amortization of intangible asset is included in the following captions: December 31,2015 December 31,2014 December 31,2013 RMB US$ RMB RMB Cost of goods sold 25,139 3,881 40,728 41,771 Selling expenses 22 3 28 33 Administrative expenses 19,354 2,988 6,945 6,357 - 44,515 6,872 47,701 48,161 |
Freight Costs
Freight Costs | 12 Months Ended |
Dec. 31, 2015 | |
Freight Costs [Abstract] | |
Freight Costs | (18) Freight Costs The Group records freight costs related to the transporting of the raw materials to the Group's warehouse in cost of raw materials and all other outbound freight costs in selling expenses. For the year ended December 31, 2015, 2014 and 2013, freight costs included in cost of goods sold were RMB 2,938 454 3,603 3,738 7,713 1,191 10,196 11,770 |
Interest Expense
Interest Expense | 12 Months Ended |
Dec. 31, 2015 | |
Interest Expense [Abstract] | |
Interest Expense | (19) Interest Expense The Group capitalizes interest expense as a component of the cost of construction in progress. The following is a summary of interest cost incurred during the year ended December 31, 2015, 2014 and 2013: December 31,2015 December 31,2014 December 31,2013 RMB US$ RMB RMB Interest cost capitalized - - - 2,059 Interest cost charged to expense 8,333 1,286 12,486 10,094 8,333 1,286 12,486 12,153 Interest expense in 2015 was lower than that in 2014, which was mainly due to lower interest rate. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Taxes [Abstract] | |
Income Taxes | (20) Income Taxes Cayman Islands Tax Under the current Cayman Island laws, the Company is not subject to tax on income or capital gain. In addition, upon payments of dividends by the Company to its shareholders, no PRC Tax Shandong Fuwei, being a Hi-Tech Enterprise in the Weifang Hi-Tech Industrial Zone in Shandong, the PRC, has been granted preferential tax treatments by the Tax Bureau of the PRC. According to the PRC Income Tax Law and various approval documents issued by the Tax Bureau, Shandong Fuwei's profit was taxed at a rate of 15 25 If our subsidiary Shandong Fuwei was not entitled to a reduced enterprise income tax, or EIT, rate of 15 25 2013 2012 2011 RMB US$ RMB RMB Net income - - - (2,499 ) Earnings per share - Basic - - - (0.19 ) - Diluted - - - (0.19 ) The Group had minimal operations in jurisdictions other than the PRC. Net (loss) income before income taxes consists of: 2015 2014 2013 RMB US$ RMB RMB Cayman Islands (2,379 ) (367 ) (2,267 ) (2,144 ) British Virgin Islands (3 ) (1 ) (3 ) (3 ) PRC (59,677 ) (9,212 ) (69,772 ) (66,860 ) U.S.A (9 ) (1 ) (42 ) 48 (62,068 ) (9,581 ) (72,084 ) (68,959 ) The Company has no twelve No Shandong Fuwei was designated as a High-and-New Tech Enterprise in December 2008 and retained its status as a high-tech enterprise for three 25 Income tax benefit (expense) consists of: Current Deferred Total PRC Income tax RMB RMB RMB Year ended December 31, 2013 - 10,007 10,007 Year ended December 31, 2014 1,043 (303 ) 740 Year ended December 31, 2015 - (7,000 ) (7,000 ) Year ended December 31, 2015 (US$) - (1,081 ) (1,081 ) Income tax expenses reported in the consolidated statements of income differs from the income tax expense amount computed by applying the PRC income tax rate of 25 15 15 2015 2014 2013 RMB US$ RMB RMB Income (loss) before income taxes (62,068 ) (9,581 ) (72,084 ) (68,959 ) Computed expected tax expense (218 ) (34 ) (218 ) (218 ) Non-deductible expenses - - - - Non-taxable income 218 34 218 131 Tax holiday - - - 87 Tax effect of deferred tax and tax rates differential (7,000 ) (1,081 ) 740 10,007 Actual income tax benefit (expense) (7,000 ) (1,081 ) 740 10,007 Tax effects of temporary differences that give rise to significant portions of the deferred tax assets (liabilities) as of December 31, 2015 and 2014 are presented below. December 31,2015 December 31,2014 RMB US$ RMB Current Accounts receivable 187 29 206 Other receivables - - 1,060 Inventory impairment 1,251 193 1,528 Estimated Loss due to Product Warranty - - - 1,438 222 2,794 Non-current Property, plant and equipment, principally due to differences in depreciation 1,763 272 1,998 Construction in progress, principally due to capitalized interest (4,819 ) (743 ) (5,212 ) Lease prepayments, principally due to differences in charges (587 ) (91 ) (604 ) Allowance for advanced to supplier-long term 27 4 68 Net loss carryforward 13,729 2,119 19,507 10,113 1,561 15,757 Net deferred income tax assets 11,551 1,783 18,551 In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Considering the level of historical performance of Shandong Fuwei, we only recognized deferred tax assets for the loss of 2015 after considering the possibility of realizing the benefits under the conservatism principle. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | (21) Related Party Transactions Name of party Relationship Hongkong Ruishang International Trade Co., Ltd. (the Hongkong Ruishang) Shareholder of the Company (52.9 Shandong Fuhua Investment Company Limited. (Shandong Fuhua) Shareholder of the Company (12.54 Hongkong Ruishang International Trade Co., Ltd. (the Hongkong Ruishang) Subsidiary of Shandong SNTON Group Co.,Ltd.(SNTON Group) Shandong SNTON Optical Materials Technology Co., Ltd.( SNTON Optical) Subsidiary of Shandong SNTON Group Co.,Ltd.(SNTON Group) Due to related parties In April 2014, the Company obtained a loan for a total amount of RMB 105,000 20 As of December 31, 2015, the principle of this loan from Shandong SNTON was RMB 104,707 11,800 In May 2014, the Company borrowed RMB 15,000 20 In May 2015, SNTON Group provided the Company with a loan for the amount of RMB 10,000 As of December 31, 2015, the total principle of loans from SNTON Group was RMB 25,000 1,572 As of December 31, 2015, the total balance of principle of loans from related party was RMB 129,707 13,372 In 2015, we purchased 915 8.03 During the years ended 2015, 2014 and 2013, we paid approximately RMB 112 17 144 164 Obligations under sale-leaseback transaction amounting to RMB 300 46 |
Pension Plan
Pension Plan | 12 Months Ended |
Dec. 31, 2015 | |
Pension Plan [Abstract] | |
Pension Plan | (22) Pension Plan Pursuant to the relevant PRC regulations, the Group is required to make contributions at a rate of 20 1,238 191 1,097 1,047 |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value of Financial Instruments [Abstract] | |
Fair Value of Financial Instruments | (23) Fair Value of Financial Instruments Our accounting for Fair Value Measurement and Disclosures, defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This topic also establishes a fair value hierarchy which requires classification based on observable and unobservable inputs when measuring fair value. The fair value hierarchy distinguishes between assumptions based on market data (observable inputs) and an entity's own assumptions (unobservable inputs). The hierarchy consists of three levels: Level one Quoted market prices in active markets for identical assets or liabilities; Level two Inputs other than level one inputs that are either directly or indirectly observable; and Level three Unobservable inputs developed using estimates and assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use. Determining which category an asset or liability falls within the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures each quarter. The measurement basis used in the preparation of the consolidated financial statements is the historical cost basis except that the following assets and liabilities are stated at their fair value, such as derivative financial instruments and available-for-sale equity securities. The Company had no assets and liabilities measured at fair value on December 31, 2015. The carrying amount of cash and cash equivalents, trade accounts receivable, prepayments and other receivables, amounts due from related parties, amounts due to related parties, and accrued liabilities and other payables, approximate their fair values because of the short maturity of these instruments. The carrying amount of bank loans approximate the fair value based on the borrowing rates currently available for bank loans with similar terms and maturity. |
Business and Credit Concentrati
Business and Credit Concentrations | 12 Months Ended |
Dec. 31, 2015 | |
Business And Credit Concentrations [Abstract] | |
Business and Credit Concentrations | (24) Business and Credit Concentrations (a) Almost all of the Group's customers are located in the PRC. There is no 10 Each amount due from the following customers represented more than 10 Percentage of accounts receivable outstanding (%) December 31, 2015 Zhuhai City Nengdong Technolgogy Optical Materials Co., Ltd. 19.3 % Yunnan Dexin Zhiye Co., Ltd. 18.3 % CELPLAST METALLIZED PRODUCTS LIMITED 13.9 % Eternal Electronic Material (Guangzhou) Co., Ltd. 11.9 % Percentage of accounts receivable outstanding (%) December 31, 2014 Eternal Electronic Material (Guangzhou) Co., Ltd. 23.2 % LG HAUSYS LTD 11.1 % Eternal Photo Electronic Materials (Guangzhou) Co., Ltd. 11.1 % Yunnan Dexin Zhiye Co., Ltd. 10.3 % (b) The Group purchased a significant portion of PET resin required for the production of BOPET film from Sinopec Yizheng Chemical Fibre Company Limited (Sinopec Yizheng) during the year ended December 31, 2015, 2014 and 2013. The Group believes that there are a limited number of suppliers in the PRC with the ability to consistently supply PET resin that meets the Group's quality standards and requirements. Currently, the Group has an annual supply agreement with Sinopec Yizheng pursuant to which Sinopec Yizheng has agreed to supply fixed quantities of PET resin to the Group on a monthly basis at the prevailing market prices. The terms of such supply agreement are reviewed annually. Although the Group believes that it maintains a good relationship with its major suppliers, there can be no The following are the vendors that supplied 10 Percentage of total purchases (%) Supplier Item 2015 2014 2013 Sinopec Yizheng Chemical Fibre Company Limited PET resin and Additives 52.0 % 60.0 % 56.7 % Jiangyin Huaxing Compound Co., Ltd. PET resin - - 4.1 % The balance of advance to supplier to Sinopec Yizheng and Jiangyin Huaxing was RMB 3,301 787 zero The balance of advance to supplier to Sinopec Yizheng and Jiangyin Huaxing was RMB 3,468 559 23 The balance of advance to supplier to Sinopec Yizheng and Jiangyin Huaxing was RMB 1,928 23 (c) Financial instruments that potentially subject the Company to concentrations of credit risk are cash and cash equivalents, accounts receivable and other receivables arising from its normal business activities. The Company places its cash and cash equivalents in what it believes to be credit-worthy financial institutions. The Company maintains large sums of cash in two 11,650 1,798 no |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies [Abstract] | |
Commitments and Contingencies | ( 25 (a) Operating lease commitments Future minimum lease payments under non-cancelable operating leases as of December 31, 2015 are as follows: December 31, 2015 RMB US$ Operating lease commitments 288 $ 44 The Company leases warehouses, staff quarters and offices under operating leases. The leases duration is typically for one three For the year ended December 31, 2015, 2014 and 2013, total rental expenses for non-cancelable operating leases were RMB 206 32 436 410 (b) Capital commitments Capital commitments for purchase of property, plant and equipment as of December 31, 2015 were RMB 1,005 155 (c) Outstanding bills receivable discounted As of December 31, 2015, the Company had not retained any recourse obligation in respect of bills receivable discounted with and sold to banks. (d) Legal Proceedings From time to time, we may be subject to legal actions and other claims arising in the ordinary course of business. Shandong Fuwei is currently a party to three On July 9, 2012, a client filed a lawsuit in Beijing Daxing District People's Court against Shandong Fuwei claiming RMB 953 Shandong Fuwei filed an appeal against the judgment in the First Intermediate People's Court of Beijing. The appeal was dismissed on January 23, 2013. On May 15, 2013, Beijing Daxing District People's Court heard the case and adjourned the hearing due to the fact that plaintiff failed to provide sufficient evidence. On November 5, 2014, the court accepted the withdrawal application from the plaintiff. 618 two On January 21, 2014 500 4,138 2,332 500 October 28, 2014 500 On June 28, 2014 844 134 two 750 94 two eight two 750 |
Earnings (Loss) Per Share
Earnings (Loss) Per Share | 12 Months Ended |
Dec. 31, 2015 | |
Earnings (Loss) Per Share [Abstract] | |
Earnings (Loss) Per Share | (26) Earnings (Loss) Per Share Basic and diluted earnings per share for the period/year ended December 31, 2015, 2014 and 2013 have been calculated as follows: 2015 2014 2013 RMB US$ RMB RMB Net (loss) income available to ordinary shareholders (69,065 ) (10,662 ) (71,327 ) (58,971 ) Weighted average number of ordinary shares outstanding 13,062,500 13,062,500 13,062,500 13,062,500 Dilutive effect of share options - - - - Diluted weighted average number of ordinary shares outstanding 13,062,500 13,062,500 13,062,500 13,062,500 Basic and diluted earnings (loss) per share (5.29 ) (0.82 ) (5.46 ) (4.51 ) |
Fuwei Films (Holdings) Co., Ltd
Fuwei Films (Holdings) Co., Ltd (Parent Company) | 12 Months Ended |
Dec. 31, 2015 | |
Fuwei Films (Holdings) Co., Ltd (Parent Company) [Abstract] | |
Fuwei Films (Holdings) Co., Ltd (Parent Company) | (27) Fuwei Films (Holdings) Co., Ltd (Parent Company) Under PRC regulations, the Company's operating subsidiary, Shandong Fuwei may pay dividends only out of its accumulated profits, if any, determined in accordance with the accounting standards and regulations prevailing in the PRC (PRC GAAP). In addition, Shandong Fuwei is required to set aside at least 10 50 25 5 37,441 5,780 As of December 31, 2015, the amount of restricted assets of Shandong Fuwei, which may not be transferred to the Company in the form of loans, advances or cash dividends by the subsidiaries without the consent of a third party, was approximately 57.9 The following presents condensed unaudited unconsolidated financial information of the Parent Company only. Condensed unaudited Balance Sheet as of December 31, 2015 and 2014 2015 2014 RMB US$ RMB Cash and cash equivalents 11 2 106 Other current assets 278,903 43,055 263,817 Investments in subsidiaries 389 60 369 Total assets 279,303 43,117 264,292 Current liabilities 60,426 9,328 54,906 Total shareholders' equity 218,877 33,789 209,386 Total liabilities and shareholders' equity 279,303 43,117 264,292 Condensed unaudited Statements of Operations (For the years ended December 31, 2015, 2014 and 2013) 2015 2014 2013 RMB US$ RMB RMB Interest income (expenses) (12 ) (2 ) (11 ) (9 ) General and administrative expenses (2,367 ) (365 ) (2,257 ) (2,135 ) Other income - - - - Loss before equity in undistributed earnings of subsidiaries (2,379 ) (367 ) (2,268 ) (2,144 ) Equity in earnings of subsidiaries (66,689 ) (10,295 ) (69,076 ) (56,808 ) Net income (69,068 ) (10,662 ) (71,344 ) (58,952 ) Condensed unaudited Statement of Cash Flows (For the year ended December 31, 2015, 2014 and 2013) 2015 2014 2013 RMB US$ RMB RMB Cash flow from operating activities Net income (69,068 ) (10,662 ) (71,344 ) (58,952 ) Adjustment to reconcile net income (loss) to net cash from operating activities: - Equity in earnings of subsidiaries 66,689 10,295 69,076 56,808 - Foreign exchange gain - - - - Changes in operating assets and liabilities: - Other current assets - - - - - Other current liabilities 34 5 - (124 ) Net cash provided by operating activities (2,345 ) (362 ) (2,268 ) (2,268 ) Cash flow from financing activities Payments to related parties 2,249 347 2,310 2,272 Proceeds from related parties (2 ) - (3 ) - Effect of exchange 2 - - (2 ) Net cash provided by (used in) financing activities 2,249 347 2,307 2,270 Net increase (decrease) in cash (96 ) (15 ) 39 2 Cash: At beginning of year 106 16 67 65 At end of year 10 2 106 67 |
Unaudited Quarterly Data
Unaudited Quarterly Data | 12 Months Ended |
Dec. 31, 2015 | |
Unaudited Quarterly Data [Abstract] | |
Unaudited Quarterly Data | (28) Unaudited Quarterly Data Quarter Ended March 31 June 30 September 30 December 31 Total Fiscal year 2015 RMB US$ RMB US$ RMB US$ RMB US$ RMB US$ Revenue 52,776 8,514 66,709 10,760 65,670 10,333 63,707 9,835 248,862 38,418 Gross loss (7,825 ) (1,262 ) 287 47 3,794 597 3,740 578 (4 ) - Net loss (14,997 ) (2,419 ) (14,651 ) (2,362 ) (12,253 ) (1,927 ) (27,164 ) (4,192 ) (69,065 ) (10,662 ) Basic and diluted loss per share (1.15 ) (0.19 ) (1.12 ) (0.18 ) (0.94 ) (0.15 ) (2.08 ) (0.32 ) (5.29 ) (0.82 ) |
Summary of Significant Accoun35
Summary of Significant Accounting Policies and Practices (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Summary of Significant Accounting Policies and Practices [Abstract] | |
Principles of Consolidation | (a) Principles of Consolidation The consolidated financial statements include the financial statements of the Company and its three |
Foreign Currency Transactions | (b) Foreign Currency Transactions The Group's reporting currency is the Chinese Yuan (Renminbi or RMB). The Company and Fuwei (BVI) operate in Hong Kong as investment holding companies and their financial records are maintained in Hong Kong dollars, being the functional currency of these two 60 Transactions denominated in currencies other than RMB are translated into RMB at the exchange rates quoted by the People's Bank of China (the PBOC) prevailing at the dates of transactions. Monetary assets and liabilities denominated in foreign currencies are translated into RMB using the applicable exchange rates quoted by the PBOC at the balance sheet dates. The resulting exchange differences are recorded in the statements of operations. Commencing from July 21, 2005, the PRC government moved the RMB into a managed floating exchange rate regime based on market supply and demand with reference to a basket of currencies. For the convenience of the readers, the RMB amounts for the year of 2015 included in the accompanying consolidated financial statements in our annual report has been translated into U.S. dollars at the rate of US$ 1.00 6.4778 No RMB is not fully convertible into foreign currencies. All foreign exchange transactions involving RMB must take place either through the PBOC or other institutions authorized to buy and sell foreign currency. The exchange rate adopted for the foreign exchange transactions are the rates of exchange quoted by the PBOC which are determined largely by supply and demand. |
Cash and Cash Equivalents and Restricted Cash | (c) Cash and Cash Equivalents and Restricted Cash For statements of cash flow purposes, the Company considers all cash on hand and in banks, including certificates of deposit and other highly-liquid investments with maturities of three As of December 31, 2015 and 2014, there were cash and cash equivalents of RMB 14,355 2,216 9,020 As of December 31, 2015 and 2014, there were restricted cash of RMB 43,215 6,671 48,085 |
Trade Accounts Receivable | (d) Trade Accounts Receivable Trade accounts receivable are recorded at the invoiced amount after deduction of trade discounts, value added taxes and allowances, if any, and do not bear interest. The allowance for doubtful accounts is the Group's best estimate of the amount of probable credit losses in the Group's existing accounts receivable. The Group determines the allowance based on historical write-off experience, customer specific facts and economic conditions. The Group reviews its allowance for doubtful accounts monthly. Past due balances over 90 747 115 825 |
Inventories | (e) Inventories Inventories are stated at the lower of cost or market value as of balance sheet date. Inventory valuation and cost-flow is determined using Moving Weighted Average Method basis. The Group estimates excess and slow moving inventory based upon assumptions of future demands and market conditions. If actual market conditions are less favorable than projected by management, additional inventory write-downs may be required. Cost of work in progress and finished goods comprises direct material, direct production cost and an allocated portion of production overheads based on normal operating capacity. |
Property, Plant and Equipment | (f) Property, Plant and Equipment Property, plant and equipment are stated at cost less accumulated depreciation and allowance for fixed assets impairment. Depreciation on property, plant and equipment is calculated on the straight-line method (after taking into account their respective estimated residual values) over the estimated useful lives of the assets as follows: Years Buildings and improvements 25 30 Plant and equipment 10 15 Computer equipment 5 Furniture and fixtures 5 Motor vehicles 5 Depreciation related to abnormal amounts from idle capacity is charged to administrative expenses for the period incurred. Total depreciations for the years ended December 31, 2015, 2014 and 2013 were RMB 44,515 6,872 47,701 48,161 56.5 85.4 86.7 43.5 14.6 13.3 Construction in progress represented capital expenditure in respect of the BOPET productions line. No |
Leased Assets | (g) Leased Assets An arrangement, comprising a transaction or a series of transactions, is or contains a lease if the Group determines that the arrangement conveys a right to use a specific asset or assets for an agreed period of time in return for a payment or a series of payments. Such a determination is made based on an evaluation of the substance of the arrangement and is regardless of whether the arrangement takes the legal form of a lease. Classification of assets leased to the Group. Assets that are held by the Group under leases which transfer to the Group substantially all the risks and rewards of ownership are classified as being held under capital leases. Leases which do not transfer substantially all the risks and rewards of ownership to the Group are classified as operating leases. Assets acquired under capital leases. Where the Group acquires the use of assets under capital leases, the amounts representing the fair value of the leased asset, or, if lower, the present value of the minimum lease payments, of such assets are included in property, plant and equipment and the corresponding liabilities, net of finance charges, are recorded as obligations under capital leases. Depreciation is provided at rates which write off the cost or valuation of the assets over the term of the relevant lease or, where it is likely the Group will obtain ownership of the asset, the life of the asset. Finance charges implicit in the lease payments are charged to the consolidated income statement over the period of the leases so as to produce an approximately constant periodic rate of charge on the remaining balance of the obligations for each accounting period. Contingent rentals are charged to the consolidated income statement in the accounting period in which they are incurred. Operating lease charges. Where the Group has the use of assets held under operating leases, payments made under the leases are charged to the consolidated income statement in equal installments over the accounting periods covered by the lease term, except where an alternative basis is more representative of the pattern of benefits to be derived from the leased asset. Lease incentives received are recognized in the consolidated income statement as an integral part of the aggregate net lease payments made. Contingent rentals are charged to the consolidated income statement in the accounting period in which they are incurred. Sale and leaseback transactions. Gains or losses on equipment sale and leaseback transactions which result in capital leases are deferred and amortized over the terms of the related leases. Gains or losses on equipment sale and leaseback transactions which result in operating leases are recognized immediately if the transactions are established at fair value. Any loss on the sale perceived to be a real economic loss is recognized immediately. However, if a loss is compensated for by future rentals at a below-market price, then the artificial loss is deferred and amortized over the period that the equipment is expected to be used. If the sale price is above fair value, then any gain is deferred and amortized over the useful life of the assets. |
Lease Prepayments | (h) Lease Prepayments Lease prepayments represent the costs of land use rights in the PRC. Land use rights are carried at cost and charged to expense on a straight-line basis over the respective periods of rights of 30 |
Goodwill | (i) Goodwill Goodwill represents the excess of purchase price and related costs over the value assigned to the net tangible and identifiable intangible assets of businesses acquired. Goodwill is not amortized but is tested for impairment annually, or when circumstances indicate a possible impairment may exist. Impairment testing is performed at a reporting unit level. An impairment loss generally would be recognized when the carrying amount of the reporting unit exceeds the fair value of the reporting unit, with the fair value of the reporting unit determined using a discounted cash flow (DCF) analysis. A number of significant assumptions and estimates are involved in the application of the DCF analysis to forecast operating cash flows, including the discount rate, the internal rate of return, and projections of realizations and costs to produce. Management considers historical experience and all available information at the time the fair values of its reporting units are estimated. Goodwill was determined to be fully impaired during the year ended December 31, 2012. |
Impairment of Long-lived Assets | (j) Impairment of Long-lived Assets The Company recognizes an impairment loss when circumstances indicate that the carrying value of long-lived assets with finite lives may not be recoverable. Management's policy in determining whether an impairment indicator exists, a triggering event, comprises measurable operating performance criteria at an asset group level as well as qualitative measures. If an analysis is necessitated by the occurrence of a triggering event, the Company uses assumptions, which are predominately identified from the Company's strategic long-range plans, in determining the impairment amount. In the calculation of the fair value of long-lived assets, the Company compares the carrying amount of the asset group with the estimated future cash flows expected to result from the use of the assets. If the carrying amount of the asset group exceeds the estimated expected undiscounted future cash flows, the Company measures the amount of the impairment by comparing the carrying amount of the asset group with their estimated fair value. We estimate the fair value of assets based on market prices (i.e., the amount for which the asset could be bought by or sold to a third party), when available. When market prices are not available, we estimate the fair value of the asset group using discounted expected future cash flows at the Company's weighted-average cost of capital. Management believes its policy is reasonable and is consistently applied. Future expected cash flows are based upon estimates that, if not achieved, may result in significantly different results. The loss on impairment of assets during 2015 and 2014 was RMB 7,219 1,114 0 |
Revenue Recognition | (k) Revenue Recognition Sales of plastic flexible packaging materials are reported, net of value added taxes (VAT), sales returns, trade discounts. The standard terms and conditions under which the Group generally delivers allow a customer the right to return product for refund only if the product does not conform to product specifications; the non-conforming product is initially identified by customer, and the customer notifies the Group about the situation. After receiving the Group's permission, the non-conforming product may be returned for replacement or refund. The Group recognizes revenue when products are delivered and the customer takes ownership and assumes risk of loss, collection of the relevant receivable is probable, persuasive evidence of an arrangement exists and the sale price is fixed or determinable. In the PRC, VAT of 17 |
Research and Development Costs | (l) Research and Development Costs Research and development expenditures are expensed as incurred. Research and development costs amounted to RMB 3,619 559 8,005 10,906 |
Income Taxes | (m) Income Taxes Income taxes are accounted for under the asset and liability method. Under guidance contained in FASB ASC 740-10, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. We follow the recognition and disclosure provisions under guidance contained in FASB ASC 740-10-25. Under this guidance, tax positions are evaluated for recognition using a more-likely-than-not threshold, and those tax positions requiring recognition are measured as the largest amount of tax benefit that is greater than fifty e only recognized deferred tax assets for the loss of 2015 after considering the possibility of realizing the benefits under the conservatism principle. |
Loss per Share | (n) Loss per Share Basic earnings (loss) per share is computed by dividing net earnings (loss) by the weighted average number of ordinary shares outstanding during the year. Diluted earnings (loss) per share is calculated by dividing net earnings (loss) by the weighted average number of ordinary and dilutive potential ordinary shares outstanding during the year. Diluted potential ordinary shares consist of shares issuable pursuant to stock option plan. |
Use of Estimates | (o) Use of Estimates The preparation of the consolidated financial statements in accordance with U.S. GAAP requires management of the Group to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, management reviews its estimates and assumptions including those related to the recoverability of the carrying amount and the estimated useful lives of long-lived assets, valuation allowances for accounts receivable and realizable values for inventories. Changes in facts and circumstances may result in revised estimates. |
Noncontrolling interest | (p) Noncontrolling interest Non-controlling interest represents the portion of equity that is not attributable to the Company. The net income (loss) attributable to non-controlling interests are separately presented in the accompanying statements of income and other comprehensive income. Losses attributable to non-controlling interests in a subsidiary may exceed the interest in the subsidiary's equity. The related non-controlling interest continues to be attributed its share of losses even if that attribution results in a deficit of the non-controlling interest balance. The non-contolling interest % of entity Fuwei USA was 40 834 129 794 |
Segment Reporting | (q) Segment Reporting The Group uses the management approach in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Group's chief operating decision maker for making operating decisions and assessing performance as the source for determining the Group's reportable segments. Management, including the chief operating decision maker, reviews operating results solely by monthly revenue of BOPET film (but not by sub-product type or geographic area) and operating results of Shandong Fuwei, the operating subsidiary in the PRC. As such, the Group has determined that the Group has a single operating segment. |
Contingencies | (r) Contingencies In the normal course of business, the Group is subject to contingencies, including legal proceedings and claims arising out of the business that relate to a wide range of matters, including among others, product liability. The Group recognizes a liability for such contingency if it determines it is probable that a loss has occurred and a reasonable estimate of the loss can be made. The Group may consider many factors in making these assessments including past history and the specifics of each matter. |
Reclassification | (s) Reclassification Certain reclassifications have been made to the fiscal year 2015 and 2014 consolidated financial statements to conform to the fiscal 2015 consolidated financial statement presentation. These reclassifications had no |
Going Concern Matters | (t) Going Concern Matters The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles which contemplate continuation of the company as a going concern. However, as of December 31, 2015, the Company had a working capital deficiency of RMB 151,599 23,403 69,068 10,662 twelve |
Recently Issued Accounting Standards | (u) Recently Issued Accounting Standards Simplifying the Measurement of Inventory: Simplifying the Presentation of Debt Issuance Costs: In April 2015, the FASB issued ASU 2015-03-Simplifying the Presentation of Debt Issuance Costs. This standard amends existing guidance to require the presentation of debt issuance costs in the balance sheet as a deduction from the carrying amount of the related debt liability instead of a deferred charge. It is effective for annual reporting periods beginning after December 15, 2015, but early adoption is permitted. The Company is currently evaluating the effect that the adoption of this standard will have on its financial statements. Amendments to the Consolidation Analysis: In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810) Amendments to the Consolidation Analysis. ASU No. 2015-02 eliminates the deferral of the requirements of ASU No. 2009-17, Consolidations (Topic 810) Improvements to Financial Reporting by Enterprises Involved with Variable Interest Entities for certain interests in investment funds and provides a scope exception from Topic 810 for certain investments in money market funds. The ASU also makes several modifications to the consolidation guidance for VIEs and general partners' investments in limited partnerships, as well as modifications to the evaluation of whether limited partnerships are VIEs or voting interest entities. ASU No. 2015-02 is effective for interim and annual reporting periods beginning after December 15, 2015. Early adoption is permitted. The Company is currently evaluating the effect that the adoption of this standard will have on its financial statements. Income Statement-Extraordinary and Unusual Items Stock Based Compensation In June 2014, the FASB issued ASU No. 2014-12 (ASU 2014-12), Compensation Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. Disclosure of Going Concern Uncertainties Revenue Recognition Other pronouncements issued by the FASB or other authoritative accounting standards group with future effective dates are either not applicable or not significant to the consolidated financial statements of the Company. |
Summary of Significant Accoun36
Summary of Significant Accounting Policies and Practices (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Summary of Significant Accounting Policies and Practices [Abstract] | |
Depreciation On Property, Plant and Equipment | Years Buildings and improvements 25 30 Plant and equipment 10 15 Computer equipment 5 Furniture and fixtures 5 Motor vehicles 5 |
Accounts and Bills Receivable37
Accounts and Bills Receivable, net (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Accounts and Bills Receivable, net [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | December 31, 2015 December 31, 2014 RMB US$ RMB Accounts receivable 7,861 1,214 8,168 Less: Allowance for doubtful accounts (747 ) (116 ) (825 ) 7,114 1,098 7,343 Bills receivable 2,932 453 2,524 10,046 1,551 9,867 |
Schedule of Allowance For Doubtful Accounts | December 31, 2015 December 31, 2014 December 31, 2013 RMB US$ RMB RMB Balance at beginning of year 825 127 795 1,196 Bad debt (recovery) expense (78 ) (12 ) 30 (401 ) Write-offs - - - - Balance at end of year 747 115 825 795 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Inventories [Abstract] | |
Schedule of Inventories | December 31,2015 December 31,2014 RMB US$ RMB Raw materials 16,819 2,596 13,221 Work-in-progress 1,667 258 1,873 Finished goods 15,483 2,390 14,429 Consumables and spare parts 611 94 622 Allowance for obsolescence (5,006 ) (773 ) (6,111 ) 29,574 4,565 24,034 |
Prepayments and Other Receiva39
Prepayments and Other Receivables (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Prepayments and Other Receivables [Abstract] | |
Schedule of Prepayments and Other Receivables | December 31,2015 December 31,2014 RMB US$ RMB Lease prepayments, current portion 524 81 524 Other receivables 19,810 3,058 18,248 20,334 3,139 18,772 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | December 31, 2015 December 31,2014 RMB US$ RMB Buildings 78,769 12,160 77,828 Plant and equipment 764,038 117,946 764,093 Computer equipment 2,449 378 2,459 Furniture and fixtures 13,730 2,120 13,444 Motor vehicles 2,094 323 2,094 861,080 132,927 859,918 Less: accumulated depreciation (422,840 ) (65,275 ) (377,384 ) Impairment of plant and equipment (7,219 ) (1,114 ) - 431,021 66,538 482,534 |
Lease Prepayments (Tables)
Lease Prepayments (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Lease Prepayments [Abstract] | |
Schedule of Lease Prepayments | December 31,2015 December 31,2014 RMB US$ RMB Non-current portion 17,882 2,761 18,406 Current portion - amount charged to expense next year 524 81 524 18,406 2,842 18,930 |
Long-Term Bank Loans (Tables)
Long-Term Bank Loans (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Long-term Bank Loans [Abstract] | |
Schedule of Long Term Debt | Interest 12-31-2015 12-31-2014 Lender annum RMB US$ RMB LONG-TERM LOANS Weifang Dongfang State-owned Assets Management Co., Ltd. - October 19, 2009 to October 18, 2017 4.41 % 6,650 1,026 10,000 6,650 1,026 10,000 Less: amounts classified as short-term loan - - - Less: long-term loan, current portion (3,350 ) (517 ) (3,350 ) Long-term Loan 3,300 509 6,650 |
Schedule of Bank Loans Outstanding | December 31,2015 December 31,2014 December 31,2013 Secured by: RMB US$ RMB RMB Property plant and equipment, Land use right 105,000 Bills receivable - - - - Guarantee company 6,650 1,026 10,000 10,000 Restricted cash - - 6,650 1,026 10,000 115,000 |
Schedule of Long-Term Bank Loans Maturity | RMB US$ Fiscal 2016 3,350 517 Fiscal 2017 3,300 509 Fiscal 2018 - - Fiscal 2019 - - Fiscal 2010 - - |
Notes Payable (Tables)
Notes Payable (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Notes Payable [Abstract] | |
Schedule of Notes Payable | Issuing bank December 31, 2015 December 31, 2014 RMB US$ RMB SPD Bank 85,780 13,242 95,539 85,780 13,242 95,539 |
Accrued Expenses and Other Pa44
Accrued Expenses and Other Payables (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Accrued Expenses and Other Payables [Abstract] | |
Schedule of Accrued Expenses and Other Payables | December 31,2015 December 31,2014 RMB US$ RMB Other payables 8,682 1,340 6,095 Predicted liability - - - 8,682 1,340 6,095 |
Obligations under capital lea45
Obligations under capital leases (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Obligations under capital leases [Abstract] | |
Schedule of Capital Lease Obligations | December 31,2015 December 31,2014 RMB US$ RMB US$ RMB US$ RMB RMB RMB Present value of the Total minimum lease Interest Present Total Interest Within 1 302 47 304 47 2 - 8,259 8,555 296 After 1 2 - - - - - - 303 306 3 After 2 3 - - - - - - - - - After 3 - - - - - - - 302 47 304 47 2 - 8,562 8,861 299 Less: balance due within one (302 ) (47 ) (8,259 ) - - 303 December 31,2015 December 31,2014 RMB RMB RMB denominated obligations Fixed interest rate of 6.49 302 8,562 302 8,562 |
Revenues (Tables)
Revenues (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Revenues [Abstract] | |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | December 31, 2015 December 31, 2014 December 31, 2013 RMB US$ RMB RMB Sales in China 194,226 29,984 241,446 263,076 Sales in other countries (principally Europe, Asia and North America) 54,636 8,434 43,018 41,874 248,862 38,418 284,464 304,950 |
Schedule of Revenue by Significant Types of Films | December 31,2015 December 31,2014 December 31,2013 RMB US$ % of Total RMB % of Total RMB % of Total Stamping and transfer film 103,520 15,982 41.6 % 118,560 41.7 % 142,309 46.7 % Printing film 29,605 4,570 11.9 % 32,987 11.6 % 27,852 9.1 % Metallized film 9,010 1,391 3.6 % 6,397 2.2 % 17,686 5.8 % Specialty film 73,851 11,400 29.7 % 79,609 28.0 % 89,382 29.3 % Base film for other applications 32,876 5,075 13.2 % 46,911 16.5 % 27,721 9.1 % 248,862 38,418 100.0 % 284,464 100.0 % 304,950 100.0 % |
Depreciation and Amortization (
Depreciation and Amortization (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Depreciation and Amortization [Abstract] | |
Schedule of Depreciation of Property, Plant and Equipment and Amortization of Intangible Asset | December 31,2015 December 31,2014 December 31,2013 RMB US$ RMB RMB Cost of goods sold 25,139 3,881 40,728 41,771 Selling expenses 22 3 28 33 Administrative expenses 19,354 2,988 6,945 6,357 - 44,515 6,872 47,701 48,161 |
Interest Expense (Tables)
Interest Expense (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Interest Expense [Abstract] | |
Schedule of Interest Expense | December 31,2015 December 31,2014 December 31,2013 RMB US$ RMB RMB Interest cost capitalized - - - 2,059 Interest cost charged to expense 8,333 1,286 12,486 10,094 8,333 1,286 12,486 12,153 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Taxes [Abstract] | |
Schedule of Net Income and Basic and Diluted Earnings Per Share, Reduced Amounts | 2013 2012 2011 RMB US$ RMB RMB Net income - - - (2,499 ) Earnings per share - Basic - - - (0.19 ) - Diluted - - - (0.19 ) |
Schedule of Net Income (Loss) Before Income Taxes | 2015 2014 2013 RMB US$ RMB RMB Cayman Islands (2,379 ) (367 ) (2,267 ) (2,144 ) British Virgin Islands (3 ) (1 ) (3 ) (3 ) PRC (59,677 ) (9,212 ) (69,772 ) (66,860 ) U.S.A (9 ) (1 ) (42 ) 48 (62,068 ) (9,581 ) (72,084 ) (68,959 ) |
Schedule of Income Tax Benefit (Expense) | Current Deferred Total PRC Income tax RMB RMB RMB Year ended December 31, 2013 - 10,007 10,007 Year ended December 31, 2014 1,043 (303 ) 740 Year ended December 31, 2015 - (7,000 ) (7,000 ) Year ended December 31, 2015 (US$) - (1,081 ) (1,081 ) |
Schedule of Reconciliation of Income Tax Benefit Rate | 2015 2014 2013 RMB US$ RMB RMB Income (loss) before income taxes (62,068 ) (9,581 ) (72,084 ) (68,959 ) Computed expected tax expense (218 ) (34 ) (218 ) (218 ) Non-deductible expenses - - - - Non-taxable income 218 34 218 131 Tax holiday - - - 87 Tax effect of deferred tax and tax rates differential (7,000 ) (1,081 ) 740 10,007 Actual income tax benefit (expense) (7,000 ) (1,081 ) 740 10,007 |
Schedule of Deferred Tax Assets (Liabilities) | December 31,2015 December 31,2014 RMB US$ RMB Current Accounts receivable 187 29 206 Other receivables - - 1,060 Inventory impairment 1,251 193 1,528 Estimated Loss due to Product Warranty - - - 1,438 222 2,794 Non-current Property, plant and equipment, principally due to differences in depreciation 1,763 272 1,998 Construction in progress, principally due to capitalized interest (4,819 ) (743 ) (5,212 ) Lease prepayments, principally due to differences in charges (587 ) (91 ) (604 ) Allowance for advanced to supplier-long term 27 4 68 Net loss carryforward 13,729 2,119 19,507 10,113 1,561 15,757 Net deferred income tax assets 11,551 1,783 18,551 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Name of party Relationship Hongkong Ruishang International Trade Co., Ltd. (the Hongkong Ruishang) Shareholder of the Company (52.9 Shandong Fuhua Investment Company Limited. (Shandong Fuhua) Shareholder of the Company (12.54 Hongkong Ruishang International Trade Co., Ltd. (the Hongkong Ruishang) Subsidiary of Shandong SNTON Group Co.,Ltd.(SNTON Group) Shandong SNTON Optical Materials Technology Co., Ltd.( SNTON Optical) Subsidiary of Shandong SNTON Group Co.,Ltd.(SNTON Group) |
Business and Credit Concentra51
Business and Credit Concentrations (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Business And Credit Concentrations [Abstract] | |
Amount Due From Customers, Percent of Outstanding Accounts Receivable | Percentage of accounts receivable outstanding (%) December 31, 2015 Zhuhai City Nengdong Technolgogy Optical Materials Co., Ltd. 19.3 % Yunnan Dexin Zhiye Co., Ltd. 18.3 % CELPLAST METALLIZED PRODUCTS LIMITED 13.9 % Eternal Electronic Material (Guangzhou) Co., Ltd. 11.9 % Percentage of accounts receivable outstanding (%) December 31, 2014 Eternal Electronic Material (Guangzhou) Co., Ltd. 23.2 % LG HAUSYS LTD 11.1 % Eternal Photo Electronic Materials (Guangzhou) Co., Ltd. 11.1 % Yunnan Dexin Zhiye Co., Ltd. 10.3 % |
Percentage of Total Purchases From Vendors | Percentage of total purchases (%) Supplier Item 2015 2014 2013 Sinopec Yizheng Chemical Fibre Company Limited PET resin and Additives 52.0 % 60.0 % 56.7 % Jiangyin Huaxing Compound Co., Ltd. PET resin - - 4.1 % |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies [Abstract] | |
Schedule of Future Minimum Lease Payments for Operating Leases | December 31, 2015 RMB US$ Operating lease commitments 288 $ 44 |
Earnings (Loss) Per Share (Tabl
Earnings (Loss) Per Share (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Earnings (Loss) Per Share [Abstract] | |
Calculation of Basic and Diluted Earnings Per Share | 2015 2014 2013 RMB US$ RMB RMB Net (loss) income available to ordinary shareholders (69,065 ) (10,662 ) (71,327 ) (58,971 ) Weighted average number of ordinary shares outstanding 13,062,500 13,062,500 13,062,500 13,062,500 Dilutive effect of share options - - - - Diluted weighted average number of ordinary shares outstanding 13,062,500 13,062,500 13,062,500 13,062,500 Basic and diluted earnings (loss) per share (5.29 ) (0.82 ) (5.46 ) (4.51 ) |
Fuwei Films (Holdings) Co., L54
Fuwei Films (Holdings) Co., Ltd (Parent Company) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Fuwei Films (Holdings) Co., Ltd (Parent Company) [Abstract] | |
Condensed Unaudited Balance Sheet | 2015 2014 RMB US$ RMB Cash and cash equivalents 11 2 106 Other current assets 278,903 43,055 263,817 Investments in subsidiaries 389 60 369 Total assets 279,303 43,117 264,292 Current liabilities 60,426 9,328 54,906 Total shareholders' equity 218,877 33,789 209,386 Total liabilities and shareholders' equity 279,303 43,117 264,292 |
Condensed Unaudited Statements of Operations | 2015 2014 2013 RMB US$ RMB RMB Interest income (expenses) (12 ) (2 ) (11 ) (9 ) General and administrative expenses (2,367 ) (365 ) (2,257 ) (2,135 ) Other income - - - - Loss before equity in undistributed earnings of subsidiaries (2,379 ) (367 ) (2,268 ) (2,144 ) Equity in earnings of subsidiaries (66,689 ) (10,295 ) (69,076 ) (56,808 ) Net income (69,068 ) (10,662 ) (71,344 ) (58,952 ) |
Condensed Unaudited Statement of Cash Flows | 2015 2014 2013 RMB US$ RMB RMB Cash flow from operating activities Net income (69,068 ) (10,662 ) (71,344 ) (58,952 ) Adjustment to reconcile net income (loss) to net cash from operating activities: - Equity in earnings of subsidiaries 66,689 10,295 69,076 56,808 - Foreign exchange gain - - - - Changes in operating assets and liabilities: - Other current assets - - - - - Other current liabilities 34 5 - (124 ) Net cash provided by operating activities (2,345 ) (362 ) (2,268 ) (2,268 ) Cash flow from financing activities Payments to related parties 2,249 347 2,310 2,272 Proceeds from related parties (2 ) - (3 ) - Effect of exchange 2 - - (2 ) Net cash provided by (used in) financing activities 2,249 347 2,307 2,270 Net increase (decrease) in cash (96 ) (15 ) 39 2 Cash: At beginning of year 106 16 67 65 At end of year 10 2 106 67 |
Unaudited Quarterly Data (Table
Unaudited Quarterly Data (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Unaudited Quarterly Data [Abstract] | |
Unaudited Quarterly Data | Quarter Ended March 31 June 30 September 30 December 31 Total Fiscal year 2015 RMB US$ RMB US$ RMB US$ RMB US$ RMB US$ Revenue 52,776 8,514 66,709 10,760 65,670 10,333 63,707 9,835 248,862 38,418 Gross loss (7,825 ) (1,262 ) 287 47 3,794 597 3,740 578 (4 ) - Net loss (14,997 ) (2,419 ) (14,651 ) (2,362 ) (12,253 ) (1,927 ) (27,164 ) (4,192 ) (69,065 ) (10,662 ) Basic and diluted loss per share (1.15 ) (0.19 ) (1.12 ) (0.18 ) (0.94 ) (0.15 ) (2.08 ) (0.32 ) (5.29 ) (0.82 ) |
Principal Activities and Reor56
Principal Activities and Reorganization (Narrative) (Details) $ / shares in Units, ¥ in Thousands, $ in Thousands | May. 12, 2014shares | Aug. 14, 2013shares | Mar. 25, 2014USD ($)$ / sharesshares | Mar. 25, 2014CNY (¥)shares | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | May. 14, 2014 | Dec. 31, 2013CNY (¥) | Dec. 31, 2012CNY (¥) | Apr. 23, 2009USD ($) |
Principal Activities And Reorganization [Line Items] | |||||||||||
Total investment amount | $ 49,224 | ¥ 318,864 | ¥ 388,119 | ¥ 459,548 | ¥ 518,434 | ||||||
Shandong Fuhua | |||||||||||
Principal Activities And Reorganization [Line Items] | |||||||||||
Indirectly Owns Ownership Through Transfer | 12.55% | ||||||||||
Administration Company [Member] | |||||||||||
Principal Activities And Reorganization [Line Items] | |||||||||||
Shares holding Control Over Of Its Outstanding Shares Up For Sale At Public Auction | shares | 6,912,503 | ||||||||||
Percentage That holding Control Over Of Its Outstanding Shares Up For Sale At Public Auction | 52.90% | ||||||||||
Transfer Of Ownership | 12.55% | ||||||||||
Shandong SNTON [Member] | |||||||||||
Principal Activities And Reorganization [Line Items] | |||||||||||
Shares Sold Through Public Auction | shares | 6,912,503 | 6,912,503 | 6,912,503 | ||||||||
Percentage Of Ownership Acquired Through Auction | 52.90% | 52.90% | 52.90% | ||||||||
Amount Of Shares Sold Through Public Auction | $ 16,573 | ¥ 101,800 | |||||||||
Sale of Stock, Price Per Share | $ / shares | $ 2.40 | ||||||||||
Fuwei Films USA, LLC [Member] | |||||||||||
Principal Activities And Reorganization [Line Items] | |||||||||||
Registered Capital | $ | $ 10 | ||||||||||
Total investment amount | $ | $ 100 | ||||||||||
Equity interest held by parent | 60.00% | 60.00% | 60.00% | ||||||||
Equity interest held by partner | 40.00% | 40.00% | 40.00% |
Summary of Significant Accoun57
Summary of Significant Accounting Policies and Practices (Property, Plant and Equipment) (Details) | 12 Months Ended |
Dec. 31, 2015 | |
Buildings and Improvements [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives | 25 years |
Buildings and Improvements [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives | 30 years |
Plant and Equipment [Member] | Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives | 10 years |
Plant and Equipment [Member] | Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives | 15 years |
Computer Equipment [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives | 5 years |
Furniture and Fixtures [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives | 5 years |
Motor vehicles [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives | 5 years |
Summary of Significant Accoun58
Summary of Significant Accounting Policies and Practices (Narrative) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||||||
Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014USD ($) | Dec. 31, 2014CNY (¥) | Dec. 31, 2012CNY (¥) | Apr. 23, 2009 | |
Summary Of Significant Accounting Policies And Practices [Line Items] | |||||||||
Foreign currency translation rate | 6.4778 | 6.4778 | |||||||
Cash and cash equivalents | $ 2,216 | ¥ 11,578 | ¥ 14,355 | $ 1,454 | ¥ 9,020 | ¥ 5,006 | |||
Restricted cash | 6,671 | 43,215 | 48,085 | ||||||
Allowance for doubtful accounts | 115 | 795 | ¥ 747 | $ 127 | ¥ 825 | ¥ 1,196 | |||
Depreciation expense recorded in cost of goods sold | $ 6,872 | ¥ 44,515 | ¥ 47,701 | ¥ 48,161 | |||||
Depreciation recorded in cost of goods sold, percent | 56.50% | 56.50% | 85.40% | 86.70% | |||||
Depreciation recorded in administrative and selling expenses, percent | 43.50% | 43.50% | 14.60% | 13.30% | |||||
Estimated liability related to defective products | |||||||||
Loss on impairment of assets | $ 1,114 | ¥ 7,219 | |||||||
Research and Development Expense | $ 559 | ¥ 3,619 | ¥ 8,005 | ¥ 10,906 | |||||
Value Added Tax Rate | 17.00% | 17.00% | |||||||
Working Capital Deficiency | $ 23,403 | ¥ 151,599 | |||||||
Net losses | $ 10,662 | ¥ 69,068 | 71,344 | ¥ 58,952 | |||||
Fuwei Films USA, LLC [Member] | |||||||||
Summary Of Significant Accounting Policies And Practices [Line Items] | |||||||||
Equity interest held by parent | 60.00% | 60.00% | 60.00% | ||||||
Equity interest held by partner | 40.00% | 40.00% | 40.00% | ||||||
Net losses | $ 129 | ¥ 834 | ¥ 794 |
Accounts and Bills Receivable59
Accounts and Bills Receivable, net (Accounts Receivable) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) |
Accounts receivable | $ 1,214 | ¥ 7,861 | ¥ 8,168 |
Less: Allowance for doubtful accounts | (116) | (747) | (825) |
Accounts receivable, net of allowance for doubtful accounts | 1,098 | 7,114 | 7,343 |
Bills receivable | 453 | 2,932 | 2,524 |
Accounts and bills receivable, net | $ 1,551 | ¥ 10,046 | ¥ 9,867 |
Accounts and Bills Receivable60
Accounts and Bills Receivable, net (Allowance For Doubtful Accounts) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Balance at beginning of year | $ 127 | ¥ 825 | ¥ 795 | ¥ 1,196 |
Bad debt (recovery) expense | $ (12) | ¥ (78) | ¥ 30 | ¥ (401) |
Write-offs | ||||
Balance at end of year | $ 115 | ¥ 747 | ¥ 825 | ¥ 795 |
Inventories (Details)
Inventories (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) |
Raw materials | $ 2,596 | ¥ 16,819 | ¥ 13,221 |
Work-in-progress | 258 | 1,667 | 1,873 |
Finished goods | 2,390 | 15,483 | 14,429 |
Consumables and spare parts | 94 | 611 | 622 |
Allowance for obsolescence | (773) | (5,006) | (6,111) |
Total inventories | $ 4,565 | ¥ 29,574 | ¥ 24,034 |
Prepayments and Other Receiva62
Prepayments and Other Receivables (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) |
Prepayments and Other Receivables [Abstract] | |||
Lease prepayments, current portion | $ 81 | ¥ 524 | ¥ 524 |
Other receivables | 3,058 | 19,810 | 18,248 |
Total prepayments and other receivables | $ 3,139 | ¥ 20,334 | ¥ 18,772 |
Property, Plant and Equipment63
Property, Plant and Equipment (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) |
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | $ 132,927 | ¥ 861,080 | ¥ 859,918 |
Less: accumulated depreciation | (65,275) | (422,840) | ¥ (377,384) |
Impairment of plant and equipment | (1,114) | (7,219) | |
Property, plant and equipment, net | 66,538 | 431,021 | ¥ 482,534 |
Building [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | 12,160 | 78,769 | 77,828 |
Plant and Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | 117,946 | 764,038 | 764,093 |
Computer Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | 378 | 2,449 | 2,459 |
Furniture and Fixtures [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | 2,120 | 13,730 | 13,444 |
Motor vehicles [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment | $ 323 | ¥ 2,094 | ¥ 2,094 |
Property, Plant and Equipment64
Property, Plant and Equipment (Narrative) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2015USD ($)m² | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | Dec. 31, 2015CNY (¥)m² | |
Property, Plant and Equipment [Line Items] | |||||
Interest Costs Capitalized | ¥ 2,059 | ||||
Building [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Area of Real Estate Property | 17,180 | 17,180 | |||
Land [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Area of Real Estate Property | 43,878 | 43,878 | |||
Property, Plant and Equipment [Member] | Use Rights [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Pledged Assets, Not Separately Reported, Real Estate | $ 2,840 | ¥ 100,659 | ¥ 18,398 |
Lease Prepayments (Details)
Lease Prepayments (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) |
Non-current portion | $ 2,761 | ¥ 17,882 | ¥ 18,406 |
Current portion - amount charged to expense next year | 81 | 524 | 524 |
Total lease prepayments of land use rights | $ 2,842 | ¥ 18,406 | ¥ 18,930 |
Lease Prepayments (Narrative) (
Lease Prepayments (Narrative) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | Dec. 31, 2015CNY (¥) | |
Amortization of Leased Asset | $ 81 | ¥ 524 | ¥ 524 | ¥ 454 | |
Finite-Lived Intangible Assets, Net | $ 2,842 | ¥ 18,406 | |||
Land Subject To Ground Leases Maturity Date Description | The land use rights for land with area of approximately 43,878 square meters, 5,279 square meters and 25,094 square meters will expire in November 2050, May 2053 and February 2055, respectively. | The land use rights for land with area of approximately 43,878 square meters, 5,279 square meters and 25,094 square meters will expire in November 2050, May 2053 and February 2055, respectively. |
Advance to suppliers (Narrative
Advance to suppliers (Narrative) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) |
Advance to suppliers | $ 871 | ¥ 5,640 | ¥ 7,512 |
Advance to suppliers - long term, net | $ 222 | ¥ 1,440 | ¥ 722 |
Long-Term Deposit (Narrative) (
Long-Term Deposit (Narrative) (Details) ¥ in Thousands, $ in Thousands | Dec. 10, 2012 | Jan. 22, 2015USD ($) | Jun. 23, 2009 | Dec. 31, 2010USD ($) | Dec. 31, 2010CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Jan. 14, 2014 | Jun. 30, 2008CNY (¥) | Jun. 18, 2008CNY (¥) | Apr. 09, 2008 | May. 19, 2006USD ($) | May. 19, 2006CNY (¥) |
Schedule of Equity Method Investments [Line Items] | ||||||||||||||
Long-term deposit | ¥ 16,760 | |||||||||||||
Impairment provision | $ 681 | ¥ 4,240 | ||||||||||||
Joyinn Hotel Investment and Management Co., Ltd. [Member] | ||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||
Registered capital | $ 6,236 | ¥ 50,000 | ||||||||||||
Joyinn Hotel Investment and Management Co., Ltd. [Member] | Contract Termination [Member] | ||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||
Proceeds From Repayment Of Deposit | $ | $ 21,000 | |||||||||||||
Initial Deposit Amount [Member] | ||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||
Long-term deposit | ¥ 52,000 | |||||||||||||
Total Deposit Amount [Member] | ||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||
Registered capital | ¥ 26,000 | |||||||||||||
Deposit Reduction Amount [Member] | ||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||
Long-term deposit | ¥ 5,000 | |||||||||||||
Pledged Interest [Member] | ||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||
Ownership percentage | 97.60% | |||||||||||||
Increase In Pledged Amount Of Interest Percent | 71.00% | 19.00% | ||||||||||||
Pledged Amount Of Interest Percent | 87.80% | 71.00% | 52.00% |
Other assets (Narrative) (Detai
Other assets (Narrative) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) |
Other Assets, Noncurrent | $ 1,792 | ¥ 11,607 | ¥ 12,500 |
Long-Term Bank Loans (Summary o
Long-Term Bank Loans (Summary of Bank Loans) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Nov. 20, 2009USD ($) | Nov. 20, 2009CNY (¥) |
Short-term Debt [Line Items] | |||||
Long-term loans | $ 1,026 | ¥ 6,650 | ¥ 10,000 | ||
Less: amounts classified as short-term loan | |||||
Less: long-term loan, current portion | $ (517) | ¥ (3,350) | ¥ (3,350) | ||
Long-term loan | $ 509 | ¥ 3,300 | 6,650 | ||
Weifang Dongfang State-Owned Assets Management Co Ltd [Member] | October 19, 2009 to October 18, 2017 [Member] | |||||
Short-term Debt [Line Items] | |||||
Long-Term Loan , Fixed Interest Rate | 4.41% | 4.41% | |||
Long-term loans | $ 1,026 | ¥ 6,650 | ¥ 10,000 | $ 1,612 | ¥ 10,000 |
Short-Term and Long-Term Bank L
Short-Term and Long-Term Bank Loans (Short-Term Loans Outstanding) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) |
Property plant and equipment, Land use right | ¥ 105,000 | |||
Bills receivable | ||||
Guarantee company | $ 1,026 | ¥ 6,650 | ¥ 10,000 | ¥ 10,000 |
Restricted cash | ||||
Loans outstanding | $ 1,026 | ¥ 6,650 | ¥ 10,000 | ¥ 115,000 |
Long-Term Bank Loans (Long-Term
Long-Term Bank Loans (Long-Term Bank Loans Maturity) (Details) - Dec. 31, 2015 ¥ in Thousands, $ in Thousands | USD ($) | CNY (¥) |
Fiscal 2,016 | $ 517 | ¥ 3,350 |
Fiscal 2,017 | $ 509 | ¥ 3,300 |
Fiscal 2,018 | ||
Fiscal 2,019 | ||
Fiscal 2,020 |
Long-Term Bank Loans (Narrative
Long-Term Bank Loans (Narrative) (Details) ¥ in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | |||||||
May. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | May. 31, 2014CNY (¥) | Apr. 30, 2014CNY (¥) | Nov. 20, 2009USD ($) | Nov. 20, 2009CNY (¥) | |
Short-term Debt [Line Items] | |||||||||
Loans Payable, Noncurrent | $ 1,026 | ¥ 6,650 | ¥ 10,000 | ||||||
SNTON Group [Member] | |||||||||
Short-term Debt [Line Items] | |||||||||
Additional Interest Rate Above Benchmark Rate | 20.00% | ||||||||
Accounts Payable, Related Parties, Noncurrent | ¥ 10,000 | ¥ 15,000 | ¥ 105,000 | ||||||
Weifang Dongfang State-Owned Assets Management Co Ltd [Member] | |||||||||
Short-term Debt [Line Items] | |||||||||
Long-term Debt, Weighted Average Interest Rate | 10.00% | 10.00% | |||||||
Percentage Of Long Term Debt Interest Rate Decreased | 4.41% | 4.41% | |||||||
Weifang Dongfang State-Owned Assets Management Co Ltd [Member] | October 19, 2009 to October 18, 2017 [Member] | |||||||||
Short-term Debt [Line Items] | |||||||||
Loans Payable, Noncurrent | $ 1,026 | ¥ 6,650 | ¥ 10,000 | $ 1,612 | ¥ 10,000 | ||||
Dornier [Member] | October 19, 2009 to October 18, 2017 [Member] | |||||||||
Short-term Debt [Line Items] | |||||||||
Debt Instrument, Annual Principal Payment | 540 | ¥ 3,350 | |||||||
Remaining principal balance due in 2017 | $ 532 | ¥ 3,300 |
Notes Payable (Details)
Notes Payable (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) |
SPD Bank | $ 13,242 | ¥ 85,780 | ¥ 95,539 |
Total notes payable | $ 13,242 | ¥ 85,780 | ¥ 95,539 |
Notes Payable (Narrative) (Deta
Notes Payable (Narrative) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Nov. 20, 2012USD ($) | Nov. 20, 2012CNY (¥) |
Total Notes payable | $ 13,242 | ¥ 85,780 | ¥ 95,539 | ||
Bankers' acceptances | 13,242 | 85,780 | |||
Deposits at SPD Bank | $ 6,621 | 42,890 | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 6,950 | ¥ 45,000 | |||
Loans Payable to Bank, Noncurrent | 41,250 | ||||
Line of Credit Facility, Remaining Borrowing Capacity | ¥ 3,750 |
Accrued Expenses and Other Pa76
Accrued Expenses and Other Payables (Accrued expenses and other payables) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) |
Other payables | $ 1,340 | ¥ 8,682 | ¥ 6,095 |
Predicted liability | |||
Accrued Liabilities and Other Liabilities, Total | $ 1,340 | ¥ 8,682 | ¥ 6,095 |
Obligations under capital lea77
Obligations under capital leases (Schedule of Capital Lease Commitments) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) |
Present value of the minimum lease payments | |||
Within 1 year | $ 47 | ¥ 302 | ¥ 8,259 |
After 1 year but within 2 years | ¥ 303 | ||
After 2 years but within 3 years | |||
After 3 years | |||
Present value of minimum lease payments | $ 47 | ¥ 302 | ¥ 8,562 |
Less: balance due within one year classified as current liabilities | $ (47) | ¥ (302) | (8,259) |
Capital Leases Present Value Of Minimum Lease Payments Noncurrent | 303 | ||
Total minimum lease payments | |||
Within 1 year | $ 47 | ¥ 304 | 8,555 |
After 1 year but within 2 years | ¥ 306 | ||
After 2 years but within 3 years | |||
After 3 years | |||
Total future minimum lease payments | $ 47 | ¥ 304 | ¥ 8,861 |
Interest | |||
Within 1 year | ¥ 2 | 296 | |
After 1 year but within 2 years | ¥ 3 | ||
After 2 years but within 3 years | |||
After 3 years | |||
Total interest | ¥ 2 | ¥ 299 |
Obligations under capital lea78
Obligations under capital leases (Schedule of Obligations under Capital Leases) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) |
RMB Denominated Obligations | |||
Fixed interest rate of 6.49% per annum as of December 31, 2014 | ¥ 302 | ¥ 8,562 | |
Total | $ 47 | ¥ 302 | ¥ 8,562 |
Obligations under capital lea79
Obligations under capital leases (Narrative) (Details) - 12 months ended Dec. 31, 2015 ¥ in Thousands, $ in Thousands | USD ($) | CNY (¥) |
Guarantee deposit | $ 129 | ¥ 800 |
Lease Expiring Term | 3 years | |
Fixed Interest Rate Under Capital Lease | 6.49% |
Revenues (By Geographical Locat
Revenues (By Geographical Location of Customers) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Revenues from External Customers [Line Items] | ||||
Net Sales | $ 38,418 | ¥ 248,862 | ¥ 284,464 | ¥ 304,950 |
Sales in China [Member] | ||||
Revenues from External Customers [Line Items] | ||||
Net Sales | 29,984 | 194,226 | 241,446 | 263,076 |
Sales in other countries principally Europe, Asia and North America [Member] | ||||
Revenues from External Customers [Line Items] | ||||
Net Sales | $ 8,434 | ¥ 54,636 | ¥ 43,018 | ¥ 41,874 |
Revenues (By Significant Types
Revenues (By Significant Types of Films) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Revenue from External Customer [Line Items] | ||||
Revenues From External Customer | $ 38,418 | ¥ 248,862 | ¥ 284,464 | ¥ 304,950 |
Percent of Total | 100.00% | 100.00% | 100.00% | 100.00% |
Stamping and Transfer Film [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Revenues From External Customer | $ 15,982 | ¥ 103,520 | ¥ 118,560 | ¥ 142,309 |
Percent of Total | 41.60% | 41.60% | 41.70% | 46.70% |
Printing Film [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Revenues From External Customer | $ 4,570 | ¥ 29,605 | ¥ 32,987 | ¥ 27,852 |
Percent of Total | 11.90% | 11.90% | 11.60% | 9.10% |
Metallized Film [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Revenues From External Customer | $ 1,391 | ¥ 9,010 | ¥ 6,397 | ¥ 17,686 |
Percent of Total | 3.60% | 3.60% | 2.20% | 5.80% |
Specialty Film [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Revenues From External Customer | $ 11,400 | ¥ 73,851 | ¥ 79,609 | ¥ 89,382 |
Percent of Total | 29.70% | 29.70% | 28.00% | 29.30% |
Base Film For Other Applications [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Revenues From External Customer | $ 5,075 | ¥ 32,876 | ¥ 46,911 | ¥ 27,721 |
Percent of Total | 13.20% | 13.20% | 16.50% | 9.10% |
Revenues (Narrative) (Details)
Revenues (Narrative) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Revenue from External Customer [Line Items] | ||||
Net Revenues Decrease Amount | ¥ 35,602 | |||
Net Revenues Decrease Percentage | 12.50% | 12.50% | ||
Average Sales Price Reduction Percentage | 13.50% | 13.50% | ||
Net Revenues Decrease Due To Reduction In Average Sales Price | ¥ 38,826 | |||
Net Revenues Increase Due To Change In Sales Volume | ¥ 3,224 | |||
Revenues From External Customers Percentage Of Total | 100.00% | 100.00% | 100.00% | 100.00% |
Net revenues | $ 38,418 | ¥ 248,862 | ¥ 284,464 | ¥ 304,950 |
Specialty film [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Revenues From External Customers Percentage Of Total | 29.70% | 29.70% | 28.00% | |
Sales Decrease Amount | ¥ 5,758 | |||
Sales Decrease Percentage | 7.20% | |||
Net revenues | $ 11,400 | ¥ 73,851 | ¥ 79,609 | |
Sales in other countries principally Europe, Asia and North America [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Revenues From External Customers Percentage Of Total | 22.00% | 22.00% | 15.10% | |
Net revenues | $ 8,434 | ¥ 54,636 | ¥ 43,018 | ¥ 41,874 |
Depreciation and Amortization83
Depreciation and Amortization (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Cost of goods sold | $ 3,881 | ¥ 25,139 | ¥ 40,728 | ¥ 41,771 |
Selling expenses | 3 | 22 | 28 | 33 |
Administrative expenses | 2,988 | 19,354 | 6,945 | 6,357 |
Depreciation | $ 6,872 | ¥ 44,515 | ¥ 47,701 | ¥ 48,161 |
Freight Costs (Narrative) (Deta
Freight Costs (Narrative) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Freight costs | $ 454 | ¥ 2,938 | ¥ 3,603 | ¥ 3,738 |
Freight costs, distribution expenses | $ 1,191 | ¥ 7,713 | ¥ 10,196 | ¥ 11,770 |
Interest Expense (Details)
Interest Expense (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Interest cost capitalized | ¥ 2,059 | |||
Interest cost charged to expense | $ 1,286 | ¥ 8,333 | ¥ 12,486 | 10,094 |
Interest cost incurred | $ 1,286 | ¥ 8,333 | ¥ 12,486 | ¥ 12,153 |
Income Taxes (EIT of 25 Percent
Income Taxes (EIT of 25 Percent Scenario) (Details) ¥ / shares in Units, ¥ in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||||
Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Sep. 30, 2015USD ($) | Sep. 30, 2015CNY (¥) | Jun. 30, 2015USD ($) | Jun. 30, 2015CNY (¥) | Mar. 31, 2015USD ($) | Mar. 31, 2015CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013USD ($)$ / shares | Dec. 31, 2013CNY (¥)¥ / shares | Dec. 31, 2012$ / shares | Dec. 31, 2012CNY (¥) | Dec. 31, 2011CNY (¥)¥ / shares | |
Income Taxes [Line Items] | ||||||||||||||||
Net income | $ (4,192) | ¥ (27,164) | $ (1,927) | ¥ (12,253) | $ (2,362) | ¥ (14,651) | $ (2,419) | ¥ (14,997) | $ (10,662) | ¥ (69,065) | ¥ (71,327) | ¥ (58,971) | ||||
EIT of 25 Percent Scenario [Member] | ||||||||||||||||
Income Taxes [Line Items] | ||||||||||||||||
Net income | ¥ (2,499) | |||||||||||||||
Earnings Per Share- Basic | (per share) | ¥ (0.19) | |||||||||||||||
Earnings Per Share- Diluted | (per share) | ¥ (0.19) |
Income Taxes (Operations in Jur
Income Taxes (Operations in Jurisdictions Other Than PRC) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Income Tax Contingency [Line Items] | ||||
Net income (loss) before income taxes | $ (9,581) | ¥ (62,068) | ¥ (72,084) | ¥ (68,959) |
Cayman Islands [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Net income (loss) before income taxes | (367) | (2,379) | (2,267) | (2,144) |
British Virgin Islands [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Net income (loss) before income taxes | (1) | (3) | (3) | (3) |
PRC [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Net income (loss) before income taxes | (9,212) | (59,677) | (69,772) | (66,860) |
USA [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Net income (loss) before income taxes | $ (1) | ¥ (9) | ¥ (42) | ¥ 48 |
Income Taxes (Income Tax Benefi
Income Taxes (Income Tax Benefit (Expense)) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Current Income Tax Expense (Benefit) | ¥ 1,043 | |||
Deferred Income Tax Expense (Benefit) | $ (1,081) | ¥ (7,000) | (303) | ¥ 10,007 |
Income Tax Expense (Benefit) | $ (1,081) | ¥ (7,000) | ¥ 740 | ¥ 10,007 |
Income Taxes (Income Tax Bene89
Income Taxes (Income Tax Benefit Statutory Tax Rate) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Income (loss) before income taxes | $ (9,581) | ¥ (62,068) | ¥ (72,084) | ¥ (68,959) |
Computed "expected" tax expense | $ (34) | ¥ (218) | ¥ (218) | ¥ (218) |
Non-deductible expenses | ||||
Non-taxable income | $ 34 | ¥ 218 | ¥ 218 | ¥ 131 |
Tax holiday | 87 | |||
Tax effect of deferred tax and tax rates differential | $ (1,081) | ¥ (7,000) | ¥ 740 | 10,007 |
Actual income tax benefit (expense) | $ (1,081) | ¥ (7,000) | ¥ 740 | ¥ 10,007 |
Income Taxes (Tax Effects of Te
Income Taxes (Tax Effects of Temporary Differences) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) |
Current | |||
Accounts receivable | $ 29 | ¥ 187 | ¥ 206 |
Other receivables | 1,060 | ||
Inventory impairment | $ 193 | ¥ 1,251 | ¥ 1,528 |
Estimated Loss due to Product Warranty | |||
Deferred tax assets - current | $ 222 | ¥ 1,438 | ¥ 2,794 |
Non-current | |||
Property, plant and equipment, principally due to differences in depreciation | 272 | 1,763 | 1,998 |
Construction in progress, principally due to capitalized interest | (743) | (4,819) | (5,212) |
Lease prepayments, principally due to differences in charges | (91) | (587) | (604) |
Allowance for advanced to supplier-long term | 4 | 27 | 68 |
Net loss carryforward | 2,119 | 13,729 | 19,507 |
Deferred Tax Assets, Gross, Noncurrent | 1,561 | 10,113 | 15,757 |
Net deferred income tax assets | $ 1,783 | ¥ 11,551 | ¥ 18,551 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) | 12 Months Ended | ||||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Effective Income Tax Rate Reconciliation At Preferential Income Tax Rate | 15.00% | 15.00% | 15.00% | ||
Effective Income Tax Rate Reconciliation At Standard Enterprise Income Tax Rate | 25.00% | 25.00% |
Related Party Transactions (Det
Related Party Transactions (Details) | Dec. 31, 2015 |
Hongkong Ruishang [Member] | |
Related Party Transaction [Line Items] | |
Ownership percentage | 52.90% |
Shandong Fuhua [Member] | |
Related Party Transaction [Line Items] | |
Ownership percentage | 12.54% |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) ¥ in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | ||||||
May. 31, 2014CNY (¥) | Apr. 30, 2014CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | Dec. 31, 2015CNY (¥) | May. 31, 2015CNY (¥) | |
Related Party Transaction [Line Items] | ||||||||
Accounts Payable, Related Parties, Current | ¥ 129,707 | |||||||
Interest Payable | 13,372 | |||||||
Advances on Inventory Purchases | $ 871 | ¥ 7,512 | 5,640 | |||||
Payment To Purchase Raw Material | ¥ 8,030 | |||||||
Capital Lease Obligations Guaranteed By Related Parties | 46 | 300 | ||||||
Shandong SNTON | ||||||||
Related Party Transaction [Line Items] | ||||||||
Accounts Payable, Related Parties, Current | ¥ 105,000 | 104,707 | ||||||
Additional Interest Rate Above Benchmark Rate | 20.00% | |||||||
Interest Payable | 11,800 | |||||||
SNTON Group [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Accounts Payable, Related Parties, Current | ¥ 15,000 | 25,000 | ¥ 10,000 | |||||
Additional Interest Rate Above Benchmark Rate | 20.00% | |||||||
Interest Payable | ¥ 1,572 | |||||||
Fuhua Industrial Material Management Co Ltd [Member] | ||||||||
Related Party Transaction [Line Items] | ||||||||
Payments for Rent | $ 17 | ¥ 112 | ¥ 144 | ¥ 164 |
Pension Plan (Narrative) (Detai
Pension Plan (Narrative) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Defined Contribution Plan, Employer Matching Contribution, Percent | 20.00% | 20.00% | ||
Expenses related to defined contribution plan | $ 191 | ¥ 1,238 | ¥ 1,097 | ¥ 1,047 |
Business and Credit Concentra95
Business and Credit Concentrations (Details) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Accounts Receivable [Member] | Zhuhai City Nengdong Technolgogy Optical Materials Co., Ltd. [Member] | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 19.30% | ||
Accounts Receivable [Member] | Yunnan Dexin Zhiye Co., Ltd [Member] | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 18.30% | 10.30% | |
Accounts Receivable [Member] | Celplast Metallized Products Limited [Member] | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 13.90% | ||
Accounts Receivable [Member] | Eternal Electronic Material (Guangzhou) Co Ltd [Member] | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 11.90% | 23.20% | |
Accounts Receivable [Member] | LG HAUSYS LTD [Member] | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 11.10% | ||
Accounts Receivable [Member] | Eternal Photo Electronic Materials (Guangzhou) Co., Ltd. [Member] | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 11.10% | ||
Raw Materials [Member] | Sinopec Yizheng Chemical Fibre Company Limited [Member] | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 52.00% | 60.00% | 56.70% |
Raw Materials [Member] | Jiangyin Huaxing Compound Co Ltd [Member] | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 4.10% |
Business and Credit Concentra96
Business and Credit Concentrations (Narrative) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014USD ($) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) |
Concentration Risk [Line Items] | |||||
Advances on Inventory Purchases | $ 871 | ¥ 5,640 | ¥ 7,512 | ||
Cash | 1,798 | 11,650 | |||
Sinopec Yizheng Chemical Fibre Company Limited [Member] | |||||
Concentration Risk [Line Items] | |||||
Advances on Inventory Purchases | $ 787 | 3,301 | $ 559 | 3,468 | ¥ 1,928 |
Jiangyin Huaxing Compound Co Ltd [Member] | |||||
Concentration Risk [Line Items] | |||||
Advances on Inventory Purchases | ¥ 0 | ¥ 23 | ¥ 23 |
Commitments and Contingencies97
Commitments and Contingencies (Details) - Dec. 31, 2015 ¥ in Thousands, $ in Thousands | USD ($) | CNY (¥) |
Operating lease commitments | $ 44 | ¥ 288 |
Commitments and Contingencies98
Commitments and Contingencies (Narrative) (Details) ¥ in Thousands, $ in Thousands | Jul. 09, 2012CNY (¥) | Nov. 26, 2014CNY (¥) | Oct. 24, 2014 | Jun. 28, 2014CNY (¥) | Jan. 21, 2014USD ($) | Jan. 21, 2014CNY (¥) | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | Dec. 31, 2015CNY (¥) |
Rental expenses | $ 32 | ¥ 206 | ¥ 436 | ¥ 410 | |||||||
Capital commitments for purchase of property, plant and equipment | $ 155 | ¥ 1,005 | |||||||||
Litigation Settlement, Amount | ¥ 750 | ¥ 94 | |||||||||
Loss Contingency Damages Interest Sought Value | ¥ 134 | ¥ 2,332 | |||||||||
Loss Contingency, Lawsuit Filing Date | October 28, 2014 | June 28, 2014 | January 21, 2014 | January 21, 2014 | |||||||
Loss Contingency, Damages Sought, Value | ¥ 953 | ¥ 618 | ¥ 844 | $ 500 | ¥ 4,138 | ||||||
Loss Contingency, Actions Taken by Defendant | Shandong Fuwei filed an appeal against the judgment in the First Intermediate People's Court of Beijing. The appeal was dismissed on January 23, 2013. On May 15, 2013, Beijing Daxing District People's Court heard the case and adjourned the hearing due to the fact that plaintiff failed to provide sufficient evidence. | Shandong Fuwei filed an appeal against the judgment in the First Intermediate People's Court of Beijing. The appeal was dismissed on January 23, 2013. On May 15, 2013, Beijing Daxing District People's Court heard the case and adjourned the hearing due to the fact that plaintiff failed to provide sufficient evidence. | |||||||||
Loss Contingency, Actions Taken by Plaintiff | On November 5, 2014, the court accepted the withdrawal application from the plaintiff. | ||||||||||
Loss Contingency, Damages Paid, Value | ¥ 750 |
Earnings (Loss) Per Share (Deta
Earnings (Loss) Per Share (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2015USD ($)$ / shares | Dec. 31, 2015CNY (¥)¥ / shares | Sep. 30, 2015USD ($)$ / shares | Sep. 30, 2015CNY (¥)¥ / shares | Jun. 30, 2015USD ($)$ / shares | Jun. 30, 2015CNY (¥)¥ / shares | Mar. 31, 2015USD ($)$ / shares | Mar. 31, 2015CNY (¥)¥ / shares | Dec. 31, 2015USD ($)$ / sharesshares | Dec. 31, 2015CNY (¥)¥ / sharesshares | Dec. 31, 2014CNY (¥)¥ / sharesshares | Dec. 31, 2013CNY (¥)¥ / sharesshares | |
Net (loss) income available to ordinary shareholders | $ (4,192) | ¥ (27,164) | $ (1,927) | ¥ (12,253) | $ (2,362) | ¥ (14,651) | $ (2,419) | ¥ (14,997) | $ (10,662) | ¥ (69,065) | ¥ (71,327) | ¥ (58,971) |
Weighted average number of ordinary shares outstanding | 13,062,500 | 13,062,500 | 13,062,500 | 13,062,500 | ||||||||
Dilutive effect of share options | ||||||||||||
Diluted weighted average number of ordinary shares outstanding | 13,062,500 | 13,062,500 | 13,062,500 | 13,062,500 | ||||||||
Basic and diluted earnings (loss) per share | (per share) | $ (0.32) | ¥ (2.08) | $ (0.15) | ¥ (0.94) | $ (0.18) | ¥ (1.12) | $ (0.19) | ¥ (1.15) | $ (0.82) | ¥ (5.29) | ¥ (5.46) | ¥ (4.51) |
Fuwei Films (Holdings) Co., 100
Fuwei Films (Holdings) Co., Ltd (Parent Company) (Condensed Unaudited Balance Sheet) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014USD ($) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | Dec. 31, 2012CNY (¥) |
Condensed Balance Sheet Statements, Captions [Line Items] | ||||||
Cash and cash equivalents | $ 2,216 | ¥ 14,355 | $ 1,454 | ¥ 9,020 | ¥ 11,578 | ¥ 5,006 |
Total assets | 93,206 | 603,771 | 672,945 | |||
Current liabilities | 42,638 | 276,201 | 272,057 | |||
Total shareholders' equity | 49,353 | 319,698 | 388,913 | |||
Total liabilities and shareholders' equity | 93,206 | 603,771 | 672,945 | |||
Parent Company [Member] | ||||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||||
Cash and cash equivalents | 2 | 10 | $ 16 | 106 | ¥ 67 | ¥ 65 |
Other current assets | 43,055 | 278,903 | 263,817 | |||
Investment in subsidiaries | 60 | 389 | 369 | |||
Total assets | 43,117 | 279,303 | 264,292 | |||
Current liabilities | 9,328 | 60,426 | 54,906 | |||
Total shareholders' equity | 33,789 | 218,877 | 209,386 | |||
Total liabilities and shareholders' equity | $ 43,117 | ¥ 279,303 | ¥ 264,292 |
Fuwei Films (Holdings) Co., 101
Fuwei Films (Holdings) Co., Ltd (Parent Company) (Condensed unaudited Statements of Operations) (Details) - Parent Company [Member] ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Condensed Income Statements, Captions [Line Items] | ||||
Interest income (expenses) | $ (2) | ¥ (12) | ¥ (11) | ¥ (9) |
General and administrative expenses | $ (365) | ¥ (2,367) | ¥ (2,257) | ¥ (2,135) |
Other income | ||||
Loss before equity in undistributed earnings of subsidiaries | $ (367) | ¥ (2,379) | ¥ (2,268) | ¥ (2,144) |
Equity in earnings of subsidiaries | (10,295) | (66,689) | (69,076) | (56,808) |
Net income | $ (10,662) | ¥ (69,068) | ¥ (71,344) | ¥ (58,952) |
Fuwei Films (Holdings) Co., 102
Fuwei Films (Holdings) Co., Ltd (Parent Company) (Condensed unaudited Statement of Cash Flows) (Details) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2013CNY (¥) | |
Changes in operating assets and liabilities: | ||||
Net cash provided by operating activities | $ (2,158) | ¥ (13,990) | ¥ (18,161) | ¥ 3,090 |
Cash flow from financing activities | ||||
Effect of exchange | (72) | (58) | (31) | (17) |
Net cash provided by (used in) financing activities | (653) | (4,227) | 26,172 | 35,568 |
Net increase (decrease) in cash and cash equivalent | 762 | 5,335 | (2,558) | 6,572 |
At beginning of period/year | 1,454 | 9,020 | 11,578 | 5,006 |
At end of period/year | 2,216 | 14,355 | 9,020 | 11,578 |
Parent Company [Member] | ||||
Cash flow from operating activities | ||||
Net income | (10,662) | (69,068) | (71,344) | (58,952) |
Adjustment to reconcile net income (loss) to net cash from operating activities: | ||||
- Equity in earnings of subsidiaries | $ 10,295 | ¥ 66,689 | ¥ 69,076 | ¥ 56,808 |
- Foreign exchange gain | ||||
Changes in operating assets and liabilities: | ||||
- Other current assets | ||||
- Other current liabilities | $ 5 | ¥ 34 | ¥ (124) | |
Net cash provided by operating activities | (362) | (2,345) | ¥ (2,268) | (2,268) |
Cash flow from financing activities | ||||
Payments to related parties | $ 347 | 2,249 | 2,310 | ¥ 2,272 |
Proceeds from related parties | (2) | ¥ (3) | ||
Effect of exchange | 2 | ¥ (2) | ||
Net cash provided by (used in) financing activities | $ 347 | 2,249 | ¥ 2,307 | 2,270 |
Net increase (decrease) in cash and cash equivalent | (15) | (96) | 39 | 2 |
At beginning of period/year | 16 | 106 | 67 | 65 |
At end of period/year | $ 2 | ¥ 10 | ¥ 106 | ¥ 67 |
Fuwei Films (Holdings) Co., 103
Fuwei Films (Holdings) Co., Ltd (Parent Company) (Narrative) (Details) ¥ in Thousands, $ in Thousands | Dec. 31, 2015USD ($) | Dec. 31, 2015CNY (¥) |
Required percent of accumulated profits, reserve | 10.00% | 10.00% |
Required statutory general reserve, percent of registered capital | 50.00% | 50.00% |
Required statutory general reserve, percent minimum remaining after issuance of shares or increase in par value | 25.00% | 25.00% |
Statutory public welfare fund required amount of profit, percent | 5.00% | 5.00% |
Statutory surplus reserve | $ 5,780 | ¥ 37,441 |
Restricted net assets, percent of consolidated net assets | 57.90% | 57.90% |
Unaudited Quarterly Data (Detai
Unaudited Quarterly Data (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2015USD ($)$ / shares | Dec. 31, 2015CNY (¥)¥ / shares | Sep. 30, 2015USD ($)$ / shares | Sep. 30, 2015CNY (¥)¥ / shares | Jun. 30, 2015USD ($)$ / shares | Jun. 30, 2015CNY (¥)¥ / shares | Mar. 31, 2015USD ($)$ / shares | Mar. 31, 2015CNY (¥)¥ / shares | Dec. 31, 2015USD ($)$ / shares | Dec. 31, 2015CNY (¥)¥ / shares | Dec. 31, 2014CNY (¥)¥ / shares | Dec. 31, 2013CNY (¥)¥ / shares | |
Schedule of Quarterly Financial Information [Line Items] | ||||||||||||
Revenue | $ 9,835 | ¥ 63,707 | $ 10,333 | ¥ 65,670 | $ 10,760 | ¥ 66,709 | $ 8,514 | ¥ 52,776 | $ 38,418 | ¥ 248,862 | ||
Gross loss | 578 | 3,740 | 597 | 3,794 | 47 | 287 | (1,262) | (7,825) | (4) | ¥ (17,153) | ¥ (15,425) | |
Net loss | $ (4,192) | ¥ (27,164) | $ (1,927) | ¥ (12,253) | $ (2,362) | ¥ (14,651) | $ (2,419) | ¥ (14,997) | $ (10,662) | ¥ (69,065) | ¥ (71,327) | ¥ (58,971) |
Basic and diluted loss per share | (per share) | $ (0.32) | ¥ (2.08) | $ (0.15) | ¥ (0.94) | $ (0.18) | ¥ (1.12) | $ (0.19) | ¥ (1.15) | $ (0.82) | ¥ (5.29) | ¥ (5.46) | ¥ (4.51) |