Gulf Resources Inc (GURE) |
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Price: $1.2300
$-0.03
-2.381%
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Day's High:
| $1.29
| Week Perf:
| -10.87 %
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Day's Low: |
$ 1.18 |
30 Day Perf: |
-0.81 % |
Volume (M): |
11 |
52 Wk High: |
$ 3.13 |
Volume (M$): |
$ 14 |
52 Wk Avg: |
$2.03 |
Open: |
$1.29 |
52 Wk Low: |
$0.85 |
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Market Capitalization (Millions $) |
13 |
Shares
Outstanding (Millions) |
10 |
Employees |
715 |
Revenues (TTM) (Millions $) |
59 |
Net Income (TTM) (Millions $) |
5 |
Cash Flow (TTM) (Millions $) |
12 |
Capital Exp. (TTM) (Millions $) |
5 |
Gulf Resources Inc
We manufacture and trade bromine and crude salt, natural gas, manufacture and
sell chemical products used in oil and gas field exploration, oil and gas distribution,
oil field drilling, papermaking chemical agents, inorganic chemicals, and manufacture
and sell materials for human and animal antibiotics. To date, our products have
been sold only within the People’s Republic of China.
Upper Class Group Limited, incorporated in the British Virgin Islands in July
2006, acquired all the outstanding stock of Shouguang City Haoyuan Chemical
Company Limited ("SCHC"), a company incorporated in Shouguang City,
Shandong Province, the Peoples Republic of China (the “PRC”), in
May 2005. At the time of the acquisition, members of the family of Mr. Ming
Yang, our president and former chief executive officer, owned approximately
63.20% of the outstanding shares of Upper Class Group Limited. Since the ownership
of Upper Class Group Limited and SCHC was then substantially the same, the acquisition
was accounted for as a transaction between entities under common control, whereby
Upper Class Group Limited recognized the assets and liabilities transferred
at their carrying amounts.
On December 12, 2006, our Company, then known as Diversifax, Inc., a public
"shell" company, acquired Upper Class Group Limited and SCHC. Under
the terms of the agreement, the stockholders of Upper Class Group Limited received
13,250,000 (restated for the 2-for-1 stock split in 2007 and the 1-for-4 stock
split in 2009) shares of voting common stock of Gulf Resources, Inc. in exchange
for all outstanding shares of Upper Class Group Limited. Members of the Yang
family received approximately 62% of our common stock as a result of the acquisition.
Under accounting principles generally accepted in the United States, the share
exchange is considered to be a capital transaction rather than a business combination.
That is, the share exchange is equivalent to the issuance of stock by Upper
Class Group Limited for the net assets of Gulf Resources, Inc., accompanied
by a recapitalization, and is accounted for as a change in capital structure.
Accordingly, the accounting for the share exchange is identical to that resulting
from a reverse acquisition, except no goodwill is recorded. Under reverse takeover
accounting, the post reverse acquisition comparative historical consolidated
financial statements of the legal acquirer, Gulf Resources, Inc., are those
of the legal acquiree, Upper Class Group Limited. Share and per share amounts
stated have been retroactively adjusted to reflect the share exchange. On February
20, 2007, we changed our corporate name to Gulf Resources, Inc.
On February 5, 2007, we acquired Shouguang Yuxin Chemical Industry Co., Limited
("SYCI"), a company incorporated in the Peoples Republic of China,
in October 2000. Under the terms of the acquisition agreement, the stockholders
of SYCI received a total of 8,094,059 (restated for the 2-for-1 stock split
in 2007 and the 1-for-4 stock split in 2009) shares of common stock of Gulf
Resources, Inc. in exchange for all outstanding shares of SYCIs common stock.
Simultaneously with the completion of the acquisition, a dividend of $2,550,000
was paid to the former stockholders of SYCI. At the time of the acquisition,
approximately 49.1% of the outstanding shares of SYCI were owned by Ms. Yu,
Mr. Yang’s wife, and the remaining 50.9% of the outstanding shares of
SYCI were owned by SCHC, all of whose outstanding shares were owned by Mr. Yang
and his wife. Since the ownership of Gulf Resources, Inc. and SYCI are substantially
the same, the acquisition was accounted for as a transaction between entities
under common control, whereby Gulf Resources, Inc. recognized the assets and
liabilities of SYCI at their carrying amounts. Share and per share amounts have
been retroactively adjusted to reflect the acquisition.
To satisfy certain ministerial requirements necessary to confirm certain government
approvals required in connection with the acquisition of SCHC by Upper Class
Group Limited, all of the equity interest of SCHC were transferred to a newly
formed Hong Kong corporation named Hong Kong Jiaxing Industrial Limited (“Hong
Kong Jiaxing”) all of the outstanding shares of which are owned by Upper
Class Group Limited. The transfer of all of the equity interest of SCHC to Hong
Kong Jiaxing received approval from the local State Administration of Industry
and Commerce on December 10, 2007.
Our business operations are conducted in four segments, bromine, crude salt,
chemical products, and natural gas. We manufacture and trade bromine, crude
salt and natural gas, and manufacture and sell chemical products used in oil
and gas field exploration, oil and gas distribution, oil field drilling, papermaking
chemical agents, inorganic chemicals and human and animal antibiotics. We conduct
all of our operations in China.
The Shandong Province working region is located to the east of Lubei Plain
and on the south bank of Bohai Laizhou Bay. The geotectonic location bestrides
on the North China Platte (I) and north three-level structure units, from west
to east including individually the North China Depression, Luxi Plate, and Jiaobei
Plate. Meanwhile, 4 V-level structure units including the Dongying Sag of Dongying
Depression (IV) of North China Depression, the Buried Lifting Area of Guangrao,
Niutou sag and Buried Lifting Area of Shuanghe and are all on two V-level structure
units including Xiaying Buried Lifting Area of Weifang Depression (IV) of Luxi
Plate and Chuangyi Sag, as well as on a V-level structure units of Jiaobei Buried
Lifting Area of Jiaobei Plate.
Company Address: Level 11, Vegetable Building Shouguang City 262700 SD
Company Phone Number: 567-0008 Stock Exchange / Ticker: NASDAQ GURE
GURE is expected to report next financial results on March 30, 2024. |
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Stock Performances by Major Competitors |
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Stock Market Announcement
Published Fri, Feb 9 2024 1:30 PM UTC
Gulf Resources Provides Update on Yuxin Chemical Factory in Shouguang, China On February 9, 2024, Gulf Resources Inc. released a press statement updating shareholders on the current status of the Yuxin Chemical factory in Shouguang, China. The company, known for its production of bromine, crude salt, and specialty chemical products, expressed a desire to keep stakeholder...
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Product Service News
Published Fri, Dec 22 2023 9:30 PM UTC
Gulf Resources Announces Temporary Closure of Bromine Facilities: Implications for Revenue and Corporate ClientsSHOUGUANG, China - Gulf Resources, Inc. (Nasdaq: GURE) (Gulf Resources or the Company) recently received notification from the government of Shouguang City on December 22, 2023, stating that all of its bromine and crude salt facilities will be temporarily closed fr...
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Stock Market Announcement
Published Fri, Dec 22 2023 1:30 PM UTC
SHOUGUANG, China, Dec. 22, 2023?? Gulf Resources, Inc. (Nasdaq: GURE), a prominent manufacturer of bromine, crude salt, and specialty chemical products in China, recently made a significant announcement regarding the equity interest transfer involving three key members of its management team. Xiaobin Liu, Naihui Miao, and Min Li, the Chief Executive Officer, Chief ...
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Gulf Resources Inc
Gulf Resources Inc (GRI) is currently facing challenges in its financial performance, as indicated by its recent report for the financial period closing June 30, 2023. The company recorded a shortfall per stock of $-0.07 per share, compared to $0.37 per share a year ago. This represents a decrease in profitability for the company. Additionally, the shortfall has increased from $-0.05 per share from the prior reporting period. One of the major contributors to this decline in financial performance is the significant decrease in revenue. The revenue faded by a staggering -49.046% to $8.01 million from $15.71 million in the corresponding reporting period a year ago. Moreover, there was a sequential deterioration of -13.935% from $9.30 million.
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Gulf Resources Inc
As an informed investor in the stock market, it is essential to pay attention to the financial performance of companies in which you may have an interest. Gulf Resources Inc is a company in the Basic Materials sector that has recently reported its performance for the first quarter of 2023. One important metric to consider is the inventory turnover ratio, which measures a company's ability to manage its supply chain. Gulf Resources Inc's inventory turnover ratio sequentially decreased to 34.15 in the first quarter of 2023, which may raise some concerns for investors.
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Per Share |
Current |
Earnings (TTM) |
0.43 $ |
Revenues (TTM) |
5.63 $
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Cash Flow (TTM) |
1.19 $ |
Cash |
11.05 $
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Book Value |
24.95 $
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Dividend (TTM) |
0 $ |
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Per Share |
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Earnings (TTM) |
0.43 $
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Revenues (TTM) |
5.63 $ |
Cash Flow (TTM) |
1.19 $ |
Cash |
11.05 $
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Book Value |
24.95 $ |
Dividend (TTM) |
0 $ |
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