Fuwei Films to Convene Annual General Meeting of Shareholders on November 6, 2020

BEIJING,Oct. 23,2020 -- Fuwei Films (Holdings) Co.,Ltd. (Nasdaq: FFHL) ("Fuwei Films" or the "Company"),a manufacturer and distributor of high-quality BOPET plastic films in China,today announced that it will hold its 2020 Annual General Meeting of Shareholders (the "AGM") on November 6,2020 at 10:00 a.m. (Beijing Time,at Fuwei Films (Shandong) Co.,Ltd.,No. 387 Dongming Road,Weifang,Shandong,China). Holders of record of ordinary shares of the Company at the close of business on September 21,2020 are entitled to receive notice of and attend the AGM or any adjournment or postponement thereof. Holders of record as of September 21,2020 are welcome to attend the AGM in person.

The notice of the AGM is available on the "Investor Relations" section of the Company's website at http://www.fuweiholdings.com. Fuwei Films has filed its Annual Report on Form 20-F,including its audited financial statements for the fiscal year ended December 31,2019 with the U.S. Securities and Exchange Commission (the "SEC"). Fuwei Films' Annual Report can be accessed on the above-mentioned website,as well as on the SEC's website at http://www.sec.gov . Shareholders may request a hard copy of the Company's Annual Report,free of charge,by contacting Investors Relations by email at fuweiir@fuweifilms.com or Shiwei.Yin@grayling.com.

About Fuwei Films

Fuwei Films conducts its business through its wholly owned subsidiary,Fuwei Films (Shandong) Co.,Ltd. ("Fuwei Shandong"). Fuwei Shandong develops,manufactures and distributes high-quality plastic films using the biaxial oriented stretch technique,otherwise known as BOPET film (biaxially oriented polyethylene terephthalate). Fuwei's BOPET film is widely used to package food,medicine,cosmetics,**,and alcohol,as well as in the imaging,electronics,and magnetic products industries.

Safe Harbor

This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are subject to risks. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the U.S. Securities and Exchange Commission which,among other things,include the significant oversupply of BOPET films resulting from the rapid growth of the Chinese BOPET industry capacity,changes in the international market and trade barriers,especially the uncertainty of the antidumping investigation and imposition of an anti-dumping duty on imports of the BOPET films originating from the People's Republic of China ("China") conducted by certain countries; uncertainty around coronavirus (COVID-19) outbreak and the effects of government and other measures seeking to contain its spread,uncertainty around U.S.-China trade war and its effect on the Company's operation,fluctuations of the RMB exchange rate,and our ability to obtain adequate financing for our planned capital expenditure requirements; uncertainty as to our ability to continuously develop new BOPET film products and keep up with changes in BOPET film technology; risks associated with possible defects and errors in our products; uncertainty as to our ability to protect and enforce our intellectual property rights; uncertainty as to our ability to attract and retain qualified executives and personnel; and uncertainty in acquiring raw materials on time and on acceptable terms,particularly in view of the volatility in the prices of petroleum products in recent years. The forward-looking information provided herein represents the Company's estimates as of the date of the press release,and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore,this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release. Actual results of our operations may differ materially from information contained in the forward-looking statements as a result of the risk factors.

For more information,please contact:

In China:

Ms. Xiaoli Yu

Investor Relations Officer

Phone: +86-133-615-59266

Email:fuweiIR@fuweifilms.com

In the U.S.:

Mr. Shiwei Yin

Investor Relations

Grayling

Phone: +1-646-284-9474

Email: shiwei.yin@grayling.com

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