Gulf Resource Stock Price, News & Analysis

Gulf Resources (Nasdaq: GURE) announced its fiscal year 2022 results, revealing a 20% revenue increase to $66,094,486. Gross profits rose 34% to $37,425,334, while operating profits surged 216% to $16,481,696. The company reported a net income of $1.00 per share, recovering from a loss of ($0.09) in 2021. Despite a significant foreign currency adjustment of ($24,886,118), cash on hand improved by $12,458,951 to $108,226,214. The bromine segment continued to perform well with a 21% revenue increase, while the crude salt sector showed a return to profitability. Management highlighted future growth potential despite current challenges.

Gulf Resources, Inc. (Nasdaq:GURE) will host a conference call on April 3, 2023, at 08:00 AM ET to discuss its Q4 and Fiscal Year 2022 results, which ended December 31, 2022. CEO Xiaobin Liu will lead the call, followed by a Q&A session. Participants can join via phone or webcasting. A replay will be available two hours post-call, expiring April 10, 2023.

The company operates four subsidiaries focusing on bromine, crude salt, and specialty chemicals, positioning itself as one of China’s largest bromine producers.

Gulf Resources (NASDAQ: GURE) provided an update on its Yuxin Chemical Factory, reporting substantial progress in construction and equipment acquisition. Key refrigeration and air compressor units have been received, although delays in environmental equipment deliveries persist due to COVID-19 and heightened governmental safety regulations. Despite potential future delays, the company believes these will not impact long-term sales or profits. Once all equipment is installed, expected timelines include 3-4 months for installation, followed by testing for 2-3 months, application for approvals, and a further 4 months for trial production before starting commercial operations.

Gulf Resources, Inc. (Nasdaq: GURE) has announced the reopening of its bromine and crude salt production facilities in Shouguang City after a temporary closure mandated by local government from December 10, 2022, to February 1, 2023, to address winter air pollution. The company confirmed that it took three to four days post-reopening to test equipment before resuming production. Gulf Resources is among China's largest bromine producers, with operations spanning multiple subsidiaries that specialize in chemicals and natural resource development.

On December 8, 2022, Gulf Resources (GURE) announced that the government of Shouguang City mandated the temporary closure of its bromine facilities from December 10, 2022, until February 1, 2023, to address winter air pollution. The company anticipates minimal impact on its business for Q4 2022 and the full year 2022, noting that winter typically sees lower bromine sales due to customer closures for the Chinese New Year. This closure period will be shorter than the previous year's.

Gulf Resources, Inc. (Nasdaq: GURE) has announced a stock repurchase agreement, effective November 30, 2022, to buy back 80,000 shares each from CEO Xiaobin Liu, COO Naihui Miao, and CFO Min Li at $3.5931 per share. This decision aims to address investor concerns regarding insider selling that may have negatively impacted the stock's performance. The company acknowledges previous delays due to COVID-19 and geopolitical tensions but remains optimistic about its future and is committed to responding to investor feedback.

Gulf Resources, Inc. (GURE) reported robust financial results for Q3 and the nine months ending September 30, 2022. Q3 revenues surged by 29% to $22.86M, with net income rising 66% to $8.97M. EPS climbed 65% to $0.86. For the nine-month period, revenues increased 39% to $47.51M, and net income skyrocketed 6672% to $12.75M. However, the RMB's decline against the USD negatively affected the balance sheet. The company projects a revenue decline of 19-26% for Q4 due to COVID impacts but expects to exceed annual revenue and profit guidance for bromine and crude salt segments.

Gulf Resources, Inc. (Nasdaq:GURE) announced a rescheduled conference call to discuss its third quarter 2022 results, moving it from Nov. 11 to Nov. 15, 2022, at 8:00 a.m. EST. The change responds to feedback regarding Veterans' Day in the U.S. and the timing's inconvenience for European investors. CEO Xiaobin Liu will lead the call, followed by a Q&A session. Investors can participate via phone or a live webcast, with a recording available for two weeks after.