RTTNews | Sep 4, 2020 10:52AM EDT

10:52 Friday, September 4, 2020 (RTTNews.com) - Despite reporting a higher profit, shares of Fuwei Films (Holdings) Co., Ltd. (FFHL) are sliding on Friday morning.

The shares have been trading higher for the last several weeks. Currently, the stock is at $4.80, down 15.93 percent from its previous close of $5.71. The manufacturer of BOPET plastic films in China reported a second-quarter profit of RMB 14.06 million or $1.99 million, up from RMB 951 K in the prior year. On a per share basis, earnings were RMB4.30 compared to RMB0.29 a year ago.

Net sales for the second quarter declined to RMB82.86 million from RMB88.117 million in the prior year.

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