Gulf Resource - GURE STOCK NEWS

Gulf Resources announced its financial results for Q4 and the full fiscal year 2020, marking a profitable quarter for the first time in three years. The company achieved net revenue of $28.2 million, a 166% increase from the prior year, driven by a strong bromine segment. Despite operational challenges, including factory closures and seasonal slowdowns, cash from operations improved significantly to $6 million. The company anticipates higher bromine prices and the completion of its Yuxin Chemical Factory in mid-2021, which is expected to enhance profit margins.

Gulf Resources, Inc. (Nasdaq: GURE) announced a conference call scheduled for April 9, 2021, at 08:00 AM ET to discuss its fourth quarter and full-year fiscal results for 2020. CEO Xiaobin Liu will lead the call, providing insights on the Company's performance and fielding investor questions. Following the live presentation, a replay will be available from April 9, 2021, at 11:00 AM ET to April 16, 2021. Gulf Resources operates through three subsidiaries, focusing on bromine and specialty chemicals, essential for various industrial applications.

Gulf Resources, Inc. (Nasdaq: GURE) provided an update on its operations following a temporary shutdown of bromine facilities mandated by the Shouguang City government from December 25, 2020, to February 19, 2021, due to air pollution concerns. The facilities reopened as scheduled, with production ramping back to levels comparable to December 2020. Current bromine prices have increased to approximately RMB34,500 per tonne, a 3.5% rise since the shutdown, and significantly above historical lows. Gulf Resources continues to be a major producer of bromine and specialty chemicals in China.

Gulf Resources, Inc. (Nasdaq: GURE) announced operational guidance for Q4 2020, stating all bromine facilities in Shouguang City will close from December 25, 2020, to February 19, 2021, due to government measures aimed at reducing air pollution. The Company expects minimal impact on its business as winter is generally a slow production period. Projections indicate a possible break-even net income of $0.5 million to $1 million with revenues between $8 million and $9 million for the fourth quarter, 2020. The Company believes operations will resume post-closure without significant repercussions for 2021.

Gulf Resources (GURE) reported an impressive 130% increase in revenues for Q3 2020, reaching $10.5 million compared to $4.5 million in Q3 2019. Sequentially, revenues rose 96% as four bromine and crude salt factories operated compared to two last year. However, the company faced an operating loss of $2.9 million, an improvement from $13 million last year. For the first nine months, total revenues grew 54.8% year-over-year to $16.4 million. Cash reserves stood strong at $95.6 million, with net cash at $81.3 million. Management is optimistic about future profitability and ongoing construction projects.

Gulf Resources, Inc. (GURE) announced a conference call to discuss its third-quarter 2020 financial results on November 16, 2020, at 20:00 ET. CEO Xiaobin Liu will lead the call, which will include a Q&A session for investors. The results will cover the period ending September 30, 2020. Interested participants can join by calling designated numbers or via webcasting. The company operates through three subsidiaries, focusing on bromine production and various chemical products, essential in multiple industries including agriculture and pharmaceuticals.

Gulf Resources, Inc. (GURE) reported its Q2 2020 results, revealing a 11% revenue decline to $5.36 million, driven by lower bromine prices amid COVID-19 impacts. The company's loss from operations reached $2.95 million, compared to $1.20 million the previous year. However, Gulf Resources commenced production in four factories and began construction of a new chemical facility, expected to boost future profitability. The company holds a strong financial position with $89.97 million in cash and anticipates production uplift in Q4 2020.

Gulf Resources, Inc. (NASDAQ:GURE) reported first-quarter results for 2020, revealing a net revenue of $557,670, up from $38,570 year-over-year, amidst pandemic-related shutdowns. Operating losses decreased to $4,835,429, while the net loss after tax was $3,539,758. The company maintains a strong balance sheet with $93.6 million in cash. Production resumed in April and May 2020, with optimism for future growth linked to new bromine facilities and a major natural gas discovery nearby. Construction for a new chemical factory is planned for Q2 2020, focusing on higher-margin products.

Gulf Resources (GURE) announced a significant natural gas discovery by PetroChina, with over 1 trillion cubic meters of reserves near its facilities in Tianbao Township, China. The proximity of this gas belt, approximately 5 miles from Gulf's well, is expected to positively impact Gulf's operations. With plans for two additional wells, the company anticipates a quicker progression of its natural gas and brine projects. This discovery may intensify local government focus on exploration planning, potentially benefiting Gulf's business development and production capabilities going forward.