Welcome to our dedicated page for Gulf Resource news (Ticker: GURE), a resource for investors and traders seeking the latest updates and insights on Gulf Resource stock.
Gulf Resources, Inc. (NASDAQ: GURE) news coverage focuses on its activities in bromine, crude salt, chemical products, and natural gas-related brine resources in China. Company press releases and SEC-linked announcements provide regular updates on bromine pricing trends, production volumes, and the economics of its bromine segment, including how changes in utilization rates and fixed costs affect segment profitability.
Investors following GURE news can review detailed quarterly and interim financial results, where Gulf Resources reports segment performance for bromine, crude salt, chemicals, and natural gas. These releases often include management commentary on bromine price volatility, seasonal plant shutdowns, and the impact of government-mandated environmental and resource extraction controls in regions where the company operates.
Corporate and capital markets developments are also a recurring theme in Gulf Resources’ news flow. The company has issued announcements regarding a one-for-ten reverse stock split of its common stock, its efforts to comply with Nasdaq’s minimum bid price requirement, and subsequent notifications from Nasdaq about delisting determinations, appeals, hearings, and the eventual confirmation that GURE had regained compliance and would continue trading on the Nasdaq Capital Market.
Additional news items cover strategic and operational decisions such as the acquisition of additional salt fields intended to expand crude salt production and support more bromine wells, participation in flood prevention programs, and the status of its chemical and natural gas segments. Company updates have described the suspension of certain chemical operations, evaluation of market opportunities, and an agreement to sell 100% of the equity interests in Shouguang Yuxin Chemical Industry Co., Limited due to prolonged operational suspension. For readers tracking GURE, this news stream offers insight into how Gulf Resources responds to market conditions, regulatory requirements, and resource development opportunities.
Gulf Resources (GURE) has addressed shareholders regarding recent challenges and developments. The company changed auditors from WWC PC to GGF CPA in April 2024, which led to delays in filing requirements. After completing delinquent filings, GURE regained Nasdaq compliance on October 15, 2024. The company reports facing challenges from China's weak economy, particularly in real estate, leading to reduced bromine and crude salt sales. Recent positive developments include a 9.6% increase in bromine prices from RMB 19,886 to RMB 21,800. The company has invested in flood prevention infrastructure and purchased new salt fields, aiming for future growth and increased production capacity.
Gulf Resources (NASDAQ: GURE) has received a non-compliance notice from Nasdaq due to its failure to timely file its Q2 2024 10-Q report. This follows previous notices for delayed filings of its 2023 10-K and Q1 2024 10-Q. The company must submit an updated compliance plan by September 4, 2024. Nasdaq has granted GURE until October 14, 2024, to file the delinquent reports or face potential delisting. The notice doesn't immediately affect GURE's listing on Nasdaq Global Select Market. Gulf Resources, a leading Chinese manufacturer of bromine, crude salt, and specialty chemicals, intends to submit an updated plan and is working to complete the delayed SEC filings.
Gulf Resources, a major producer of bromine, crude salt, and specialty chemicals in China, has received an extension from NASDAQ to regain compliance with listing rules. The deadline to file its overdue Form 10-K for the year ending December 31, 2023, and Form 10-Q for the quarter ending March 31, 2024, has been extended to October 14, 2024. Previously, NASDAQ had notified Gulf Resources on April 18 and May 21, 2024, of its non-compliance due to these missing filings. The company, along with its new auditor GGF CPA , is working to complete these filings and expects to submit them by the new deadline.
Gulf Resources has announced the acquisition of five crude salt fields through its subsidiary, Shouguang Hengde Salt Industry. The total cost of the acquisition is RMB280,762,000 (around USD $38.6 million). The fields span 5,141,000 square meters, and 80% of the payment will be made in cash, while the remaining 20% will be paid in shares within three months after inspection. This acquisition supports the reopening of bromine factories #2 and #10, with production expected to commence in the first half of 2025. The company anticipates improved well drilling and higher utilization levels. The deal also involves investments in flood protection and aims to leverage new opportunities in zinc/bromine and sodium-ion batteries, suggesting future price increases for bromine and crude salt.
Gulf Resources (NASDAQ: GURE) has received a non-compliance notice from Nasdaq due to its failure to timely file its quarterly report for the quarter ended March 31, 2024. This follows a previous notice received in April 2024 for not filing its annual report for the fiscal year ended December 31, 2023. The company has until June 17, 2024, to submit a compliance plan to Nasdaq. If accepted, Gulf Resources may have until October 14, 2024, to comply. Failure to meet these deadlines could result in the delisting of its common stock. Gulf Resources is working diligently to complete the outstanding reports.
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