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Gulf Resources Inc (GURE.OQ)

GURE.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Gulf Resources Provides Updates On Its Chemical Business
Thursday, 30 Nov 2017 08:00am EST 

Nov 30 (Reuters) - Gulf Resources Inc ::GULF RESOURCES PROVIDES UPDATES ON ITS CHEMICAL BUSINESS.GULF RESOURCES INC - ‍ON NOV 24, CO RECEIVED LETTER FROM PEOPLE'S GOVERNMENT OF YANGKOU COUNTY, SHOUGUANG CITY​.GULF RESOURCES INC - LETTER ‍ NOTIFYING CO, DUE TO NEW STANDARDS,REGULATIONS, DECIDED TO RELOCATE CHEMICAL ENTERPRISES TO NEW INDUSTRIAL PARK​.GULF RESOURCES INC - ‍BELIEVE THE RELOCATION PROCESS WILL COST BETWEEN $50 MILLION TO $60 MILLION​.GULF RESOURCES INC - ‍WILL TAKE A WRITE-DOWN TO BOOK VALUE AFTER DETERMINING WHICH EQUIPMENT WE WILL MOVE AND WHICH WE WILL REPLACE​.GULF RESOURCES INC -"‍IN 2019, WE EXPECT TO HAVE OUR NEW CHEMICAL FACTORY BEGIN OPERATIONS​".  Full Article

Gulf Resources reports Q3 earnings per share $0.07
Monday, 13 Nov 2017 04:30pm EST 

Nov 13 (Reuters) - Gulf Resources Inc :Gulf Resources reports third quarter 2017 financial results.Q3 earnings per share $0.07.Q3 revenue fell 39 percent to $23.84 million.Gulf Resources Inc - ‍Because factories are closed, company does not expect any revenues associated with production in Q4​.Gulf Resources Inc - ‍Company believes that its cash burn, excluding rectification costs, should not exceeding $4 million for Q4​.  Full Article

Gulf Resources expects reduced earnings for Q3 and a loss for Q4 2017​
Wednesday, 1 Nov 2017 08:30am EDT 

Nov 1 (Reuters) - Gulf Resources Inc :Gulf Resources provides updates on the rectification of its bromine business.Gulf Resources - ‍ company and government of Yangkou County, Shouguang City have now agreed on a plan for Haoyuan Chemicals, company's bromine business​.Gulf Resources Inc - ‍expect that bromine and chemical operations will be closed during entire Q4 of 2017​.Gulf Resources Inc - agreed on a plan for Haoyuan Chemicals which includes coal boilers should be dismantled.Gulf Resources Inc - ‍as a result operations being closed company will report reduced earnings for Q3 of 2017 and a loss for Q4 of 2017​.Gulf Resources Inc - ‍Gulf Resources would like to reiterate to investors that as of June 30, 2017, company had more than US$176 million in cash​.Gulf Resources-after rectification of bromine business is completed, County to entrust governmental supervisory departments to conduct joint inspection​.Gulf Resources-may start production again if bromine business pass inspection,otherwise production to be halted until rectification has been approved​.Gulf Resources Inc - ‍ believes rectification for all of bromine business will be completed and that operations will recommence by end of March 2018​.Gulf Resources Inc - ‍ "at this time, the government has not issued plans for company's chemical business"​.Gulf Resources Inc - ‍ believes completing all of rectification steps of its bromine business will cost approximately US$35 million​.  Full Article

Gulf Resources says closing certain factories to meet new environmental rules in China
Thursday, 7 Sep 2017 11:00am EDT 

Sept 7 (Reuters) - Gulf Resources Inc ::Gulf Resources announces the closing of its bromine, crude salt and chemical factories for rectification and improvement in order to meet the new environmental rules in China.While there is no way of knowing how much all of steps relating to closure will cost, co believes it could be between $15 and $30 million​.On Sept 1, got letters which stated that to improve safety of chemical enterprises, plants are requested to stop production.Local government requested that facilities be closed, so that facilities can undergo inspection and analysis​.Letters stated that plants to perform rectification, improvements in line with China's new safety, environmental protection requirements​.Over short term, prices of commodities to increase as there are temporary shortages.At this time, co does not know timing of further inspections/cost of remediation, improvement, nor how long factories will be closed​.  Full Article

Gulf Resources Q2 earnings per share $0.29
Friday, 11 Aug 2017 04:45pm EDT 

Aug 11 (Reuters) - Gulf Resources Inc :Gulf Resources reports second quarter 2017 financial results.Q2 earnings per share $0.29.Q2 earnings per share $0.30 excluding items.Qtrly total net revenue were $47.5 million versus. $47.6 million.Gulf Resources Inc qtrly ‍adjusted diluted EPS $0.3​.  Full Article

Gulf Resources temporarily suspends production at Sichuan Province well
Monday, 10 Jul 2017 08:00am EDT 

July 10 (Reuters) - Gulf Resources Inc :Gulf resources announces temporary suspension of production at its first natural gas well in sichuan province.Gulf resources inc - ‍in initial stages of production, content of natural gas did not meet expected quality standards​.Gulf resources inc - ‍gulf resources continues to be optimistic about both its core business and opportunities in sichuan province​.Gulf resources inc - ‍at present time, gulf expects to report strong results in bromine and improved results in chemicals for q2 of 2017​.Gulf resources- ‍overall, excluding potential extraordinary items, currency exchange problem, expects to report sales in q2 2017 increased over previous year​.Gulf resources inc - ‍also expects to report that earnings and earnings per share increased by double digits in q2 2017​.Gulf resources inc - ‍believes suspension will not change intermediate to long-term opportunities for natural gas production in sichuan province​.  Full Article

Gulf Resources discusses sales of shares by executive officers
Friday, 9 Jun 2017 08:30am EDT 

June 9 (Reuters) - Gulf Resources Inc :Gulf Resources discusses sales of shares by executive officers.Executives continue to hold 271,725 shares in aggregate, that were not on deposit at ASTIS​.‍Executives agreed they will sign a lock-up agreement with company to restrict sale of remainder of their shares for next three years​.Today announced a statement on sales of shares in company by three executive officers​.On May 24, AST Investor Services, notified its holders of personal brokerage accounts is filing broker-dealer withdrawal with FINRA​.On May 24, ASTIS notified its holders of personal brokerage accounts is ceasing its broker-dealer operations as of June 15, 2017.Due to short timeframe certain of co's executive officers who had accounts at ASTIS were unable to find new brokerage to hold shares​.Co's executive officers decided to sell their shares deposited at ASTIS, which is a portion of their total holding shares​.‍ASTIS's decision to cease operations as broker-dealer has no impact on business, operations, financial condition/results of operations of co​.‍ASTIS's action only had consequences for personal brokerage accounts of executive officers​.  Full Article

Gulf Resources Q1 earnings per share $0.17
Friday, 12 May 2017 04:45pm EDT 

May 12 (Reuters) - Gulf Resources Inc ::Gulf Resources reports first quarter 2017 financial results.Q1 earnings per share $0.17.Sees FY 2017 sales up 3 to 8 percent.Gulf Resources Inc- Q1 of 2017, revenues declined 5% to $32.8 million.  Full Article

Gulf Resources announces contract with Sichuan Heshun Natural Gas Sales
Wednesday, 3 May 2017 08:30am EDT 

May 3 (Reuters) - Gulf Resources Inc ::Contract with Sichuan Heshun Natural Gas Sales; under contract, co will sell 8,000 cubic meters of natural gas each day to Sichuan.  Full Article

Gulf resources reports merger of Yuxin and Rongyuan
Tuesday, 30 Aug 2016 08:00am EDT 

Gulf Resources Inc : Gulf resources announces the merger of Yuxin chemical and Rongyuan chemical . Under terms of agreement, Yuxin will acquire Rongyuan. . Gulf Resources Inc says under terms of agreement, Yuxin will acquire Rongyuan .Gulf Resources Inc says after merger is completed, during q3 of 2016, Yuxin will be surviving division.  Full Article

BRIEF-Gulf Resources Provides Updates On Its Chemical Business

* GULF RESOURCES INC - ‍ON NOV 24, CO RECEIVED LETTER FROM PEOPLE'S GOVERNMENT OF YANGKOU COUNTY, SHOUGUANG CITY​

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