![](https://investorshub.advfn.com/uicon/376695.png?cb=1635031981)
Wednesday, October 20, 2021 7:55:49 PM
Gulf Resources Updates Investors on Impact of the World & Chinese Economy on Business Operations
October 20 2021 - 08:50AM
GlobeNewswire Inc.
Gulf Resources, Inc. (Nasdaq:GURE) ("Gulf Resources" or the "Company"), a leading manufacturer of bromine, crude salt and specialty chemical products in China, today updated investors on the impact of issues in the world and Chinese economy on its business operations.
Bromine prices have risen substantially throughout the world and even more substantially in China. In the world market, shipping issues have disrupted delivery. As a result, China has been unable to import its normal share of bromine.
With the shortage in supply and demand, prices of bromine have soared to the highest levels ever recorded. As illustrated by the chart below (source:sunsirs.com) bromine is currently priced at RMB 69,500 per tonne, an increase of 41% in the past few weeks and 148% higher than the end of the 3rd quarter in 2020.
Bromine Prices In China
Period Price Changes As 2021 10/16
Q2-2020 29,333 136.9%
Q3-2020 28,017 148.1%
Q4-2020 32,087 116.6%
Q1-2021 34,493 101.5%
Q2-2021 45,950 51.3%
Q3-2021 49,301 41.0%
2021/10/16 69,500
Since the raw material price increases are lower than the bromine price increase, we believe this type of pricing should be good for our Fourth Quarter 2021 profitability.
The Company has no idea how long the current shortages will last, however, we will keep shareholders informed of any changes we have seen.
The world and Chinese economies have been impacted by supply chain issues in many industries including the energy industry. Shipping shortages have disrupted delivery of many products throughout the world. China has also been impacted by shortages of energy. For example, in some regions of China, the government have restricted electrical usage, including Shouguang City. And some businesses under construction have been restricted from electrical usage in Shouguang City.
The supply chain issues as well as the electric restrictions have delayed the production and delivery of some equipment to the Company‘s new chemical factory. In addition, the Company’s new chemical factory has also been restricted from the electrical usage. This means the installation, timing of testing and beginning trial production at the chemical factory will be delayed. At this time, the Company is not in a position to determine the extent of the delays, but it will keep shareholders advised.
Website
As some investors may have noticed, our website has been down for the past week. Our company is committed to improving investor relations. As a result, we are in the process of introducing a rebuilt website. The transition from the old website to the new website will require approximately one more week. We look forward to sharing our new website with investors.
About Gulf Resources, Inc.
Gulf Resources, Inc. operates through three wholly-owned subsidiaries, Shouguang City Haoyuan Chemical Company Limited ("SCHC"), ShouguangYuxin Chemical Industry Co., Limited ("SYCI"), and Daying County Haoyuan Chemical Company Limited (“DCHC”). The Company believes that it is one of the largest producers of bromine in China. Elemental Bromine is used to manufacture a wide variety of compounds utilized in industry and agriculture. Through SYCI, the Company manufactures chemical products utilized in a variety of applications, including oil and gas field explorations and papermaking chemical agents, and materials for human and animal antibiotics. DCHC was established to further explore and develop natural gas and brine resources (including bromine and crude salt) in China. For more information, visit www.gulfresourcesinc.com.
Recent GURE News
- Gulf Resources Announces the Signing of Agreements to Acquire Crude Salt Fields • GlobeNewswire Inc. • 07/03/2024 12:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/22/2024 08:45:34 PM
- Gulf Resources Announces Receipt of Nasdaq Non-Compliance Notice • GlobeNewswire Inc. • 05/22/2024 08:30:00 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 05/14/2024 08:00:26 PM
- Gulf Resources Announces Receipt of Nasdaq Non-Compliance Notice • GlobeNewswire Inc. • 04/19/2024 08:30:00 PM
- Gulf Resources Announces Change in Independent Auditors • GlobeNewswire Inc. • 04/18/2024 12:30:00 PM
- Gulf Resources Provides Update on the Yuxin Chemical Factory • GlobeNewswire Inc. • 02/09/2024 01:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/30/2024 09:49:15 PM
- Gulf Resources Announces the Completion of the Flood Prevention Project • GlobeNewswire Inc. • 01/30/2024 01:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/28/2023 09:47:06 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/28/2023 09:46:43 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/28/2023 09:46:27 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/28/2023 09:46:09 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/28/2023 09:45:53 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/28/2023 09:45:35 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/28/2023 09:45:16 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/22/2023 09:47:16 PM
- Gulf Resources Announces the Receipt of Governmental Notification to Temporarily Close Bromine Facilities • GlobeNewswire Inc. • 12/22/2023 09:30:00 PM
- Gulf Resources Announces Management Sale of Shares • GlobeNewswire Inc. • 12/22/2023 01:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/21/2023 09:30:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/21/2023 09:30:43 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/21/2023 09:30:13 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 11/30/2023 09:45:33 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/30/2023 09:30:20 PM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM