Welcome to our dedicated page for Gulf Resources (NV) news (Ticker: GURE), a resource for investors and traders seeking the latest updates and insights on Gulf Resources (NV) stock.
Gulf Resources, Inc. (NV) Common Stock (symbol: GURE)
Gulf Resources, Inc., headquartered in China, is a prominent holding company engaged in the manufacture and trade of bromine, crude salt, and natural gas. The company also produces and sells chemical products used in various industrial applications, including oil and gas field exploration, distribution, drilling, wastewater processing, papermaking, and antibiotics for both humans and animals.
The company operates through four primary segments:
- Bromine: Used in flame retardants, fumigants, water purification compounds, dyes, medicines, and disinfectants, this segment generates the most significant revenue for the company.
- Crude Salt: Produced as a by-product of bromine, used in various chemical processes, and for direct sale.
- Chemical Products: Includes products for oil and gas exploration, papermaking chemicals, and materials for antibiotics.
- Natural Gas: Primarily focused on the exploration and development of natural gas resources.
Recent news highlights the company's robust initiatives. In response to the severe impacts of Typhoon Winbiya in 2018 and Typhoon Lekima in 2019, Gulf Resources has launched a comprehensive flood prevention program. This initiative, costing over $50 million, aims to safeguard its bromine facilities by renovating river channels in their mining areas, thus mitigating future flood risks.
Despite facing a significant decline in revenue in Q3 2023, with a 74% drop to $5.9 million primarily from the bromine segment, the company remains financially stable. As of September 30, 2023, Gulf Resources reported a cash balance of $103.8 million and net cash of $85.6 million, which translates to $9.95 per share in cash and $8.21 per share in net cash.
Gulf Resources operates through four wholly-owned subsidiaries: Shouguang City Haoyuan Chemical Company Limited (SCHC), Shouguang Yuxin Chemical Industry Co., Limited (SYCI), Daying County Haoyuan Chemical Company Limited (DCHC), and Shouguang Hengde Salt Industry Co. Ltd. (SHSI). The company is recognized as one of the largest bromine producers in China, leveraging its chemical manufacturing capabilities for a variety of industrial and agricultural applications.
For more information, visit www.gulfresourcesinc.com.
Gulf Resources, Inc. (Nasdaq:GURE) announced a conference call on April 13, 2022, at 08:30 AM ET, to discuss its fourth quarter and full-year 2021 results. CEO Mr. Xiaobin Liu will lead the call, which will include a Q&A session with the management team. The company operates through three subsidiaries, specializing in bromine and specialty chemical production in China. Gulf Resources emphasizes its position as a leading bromine manufacturer, which is crucial for various industrial applications.
Gulf Resources, Inc. (Nasdaq: GURE) has reopened its bromine and crude salt facilities in Shouguang, China, on February 21, 2022, following a seasonal closure aimed at reducing winter air pollution. The company anticipates a rapid ramp-up of production, returning to pre-shutdown levels. Bromine prices showed a significant rise from RMB 53,451 to RMB 59,000 per tonne. Additionally, discussions indicate that electricity restrictions for its Yuxin Chemical factory are easing, allowing for the completion and testing of further equipment.
Gulf Resources, Inc. (Nasdaq: GURE) announced a temporary closure of its bromine facilities in Shouguang City from December 28, 2021, to February 21, 2022, due to government regulations aimed at reducing air pollution. This seasonal closure aligns with similar past closures and occurs when bromine sales are generally slow, particularly due to the Chinese New Year. The company does not expect significant business impact for the fourth quarter of 2021 or for 2022. Gulf Resources operates through three subsidiaries focused on bromine and chemical product manufacturing.
Gulf Resources, Inc. (Nasdaq:GURE) provided its earnings guidance for Q4 2021, estimating operating revenue of $18.0-$19.0 million and net income of $9.5-$10.0 million. This forecast does not account for potential interruptions from mandated winter closures, which the company has yet to be notified about. Additionally, there could be write-offs related to old chemical factories and unused wells. CEO Liu Xiaobin expressed optimism about operational improvements for the quarter and fiscal year.
Gulf Resources, Inc. (Nasdaq: GURE) reported strong third quarter 2021 results with revenues of $17.75 million, a 69.4% increase from the previous year. Gross margins improved to 53.8%, and the company achieved a net profit of $5.4 million, compared to a loss last year. For the nine-month period, revenues rose by 108.3% to $34.2 million. Management indicated that rising bromine prices are favorable for Q4 profitability, despite challenges from supply chain disruptions and energy usage restrictions affecting production timelines.
Gulf Resources, Inc. (Nasdaq: GURE) has announced a conference call on November 16, 2021, at 08:00 AM ET to discuss its Q3 2021 results ending September 30, 2021. CEO Mr. Xiaobin Liu will lead the call, with a session for investor questions following his remarks. Participants can join the call by dialing +1 (888) 506-0062 or +1 (973) 528-0011 for international callers. A replay will be available from November 16, 2021, 11:00 AM ET until November 22, 2021. The company highlights its position as a leading producer of bromine and specialty chemical products in China.
Gulf Resources, Inc. (GURE) announced a new compensation program aimed at aligning management interests with shareholders. The plan requires top executives to repay most of their cash compensation over the past 11.5 years, with reductions in current salaries—Chairman and CEO receiving no cash compensation, and COO and CFO seeing an 82% cut. In exchange, these executives will receive stock, promoting a focus on share price performance. A conference call is scheduled for November 10, 2021, to discuss the details.
Gulf Resources, Inc. (Nasdaq:GURE) reported significant increases in bromine prices due to global supply chain disruptions. As of October 16, 2021, bromine prices in China reached RMB 69,500 per tonne, marking a 41% increase over several weeks and 148% since Q3 2020. The company anticipates improved Q4 2021 profitability due to these price hikes. However, production delays are expected at its new chemical factory due to energy usage restrictions and shipping delays. Gulf Resources is also revamping its website to enhance investor relations.
Gulf Resources, Inc. (GURE) projects strong financial results for Q3 2021, estimating net revenues between $16.2 and $16.7 million, up from $11.1 million in Q2 2021. The company anticipates a net income of $4.0 to $4.7 million, reversing losses from the previous year. Full year revenue guidance suggests $46.0 to $46.7 million, compared to $28.2 million in 2020. The company credits strong bromine pricing and production levels, maintaining optimism for a robust finish despite potential seasonal impacts.
Gulf Resources, Inc. (GURE) announced a change in the link for its Second Quarter 2021 Earnings Conference Call due to technical issues on its website. The call is scheduled for 8:00 a.m. ET on August 16, 2021. Investors can access the new link or dial in using the provided phone numbers. A replay will be available two hours post-call until September 15, 2021. Gulf Resources specializes in the manufacturing of bromine, crude salt, and specialty chemicals in China, operating through subsidiaries that cater to various industries including oil and gas.
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