Form 8-K - Current report
December 22 2023 - 4:47PM
Edgar (US Regulatory)
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2023-12-22
2023-12-22
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act 1934
Date of Report (date of earliest event reported):
December 22, 2023
Gulf Resources, Inc.
(Exact name of registrant as specified in charter)
Nevada
(State or other jurisdiction of incorporation)
|
000-20936
(Commission File Number) |
13-3637458
(IRS Employer Identification No.) |
Level 11,Vegetable Building, Industrial Park
of the East City,
Shouguang City, Shandong, China 262700
(Address of principal executive offices and zip
code)
+86 (536) 567 0008
(Registrant's telephone number including area code)
(Registrant's former name or former address, if
changed since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of registrant under any of the following provisions:
| ☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ |
Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b)) |
| ☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934
(17 CFR §240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
| Common Stock, $0.0005 par value |
|
GURE |
|
NASDAQ Global Select Market |
On December 22, 2023, Gulf Resources, Inc. (the “Company”)
issued a press release announcing that the Company received a governmental notification to temporarily close bromine factories in Shouguang
City. A copy of the press release is furnished as Exhibits 99.1 hereto.
| Item 9.01 |
Financial Statements and Exhibits. |
Exhibits
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| |
GULF RESOURCES, INC. |
| |
|
|
| |
By: |
/s/ Min Li |
| |
Name: |
Min Li |
| |
Title: |
Chief Financial Officer |
Dated: December 22, 2023
Gulf Resources Announces the Receipt of Governmental Notification to
Temporarily Close Bromine Facilities
SHOUGUANG, China, Dec. 22, 2023 (GLOBE NEWSWIRE) -- Gulf Resources,
Inc. (Nasdaq: GURE) ("Gulf Resources" or the "Company"), today announced that it received notification from the government
of Shouguang City on December 22, 2023, pursuant to which its all bromine and crude salt facilities will be temporarily closed from December
25, 2023 to February 20, 2024. To comply with such notification, the Company expects to temporarily halt production during this period.
We believe this seasonal closure aligns with the government's efforts
to address winter air pollution and enhance the overall efficiency of brine resources.
Compared to the 2023 closure from December 10 to February 1, the closure
in 2024 means that the Company will have an additional 15 days of production in the fourth quarter of 2023 and will lose 19 days of production
in the first quarter of 2024.
Winter typically sees slower bromine sales as our customers are closed
for Chinese New Year holidays, leading to fewer orders before their closure. Further, processing crude salt becomes challenging during
the coldest months because of low temperatures.
About Gulf Resources, Inc.
Gulf Resources, Inc. operates through four wholly-owned subsidiaries,
Shouguang City Haoyuan Chemical Company Limited ("SCHC"), Shouguang Yuxin Chemical Industry Co., Limited ("SYCI"),
Daying County Haoyuan Chemical Company Limited (“DCHC”) and Shouguang Hengde Salt Industry Co. Ltd. (“SHSI”).
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. Through SHSI,
the Company manufactures and sell crude salt. 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.
Forward-Looking Statements
Certain statements in this news release contain forward-looking information
about Gulf Resources and its subsidiaries business and products within the meaning of Rule 175 under the Securities Act of 1933 and Rule
3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. The actual results may differ
materially depending on a number of risk factors including, but not limited to, the general economic and business conditions in China,
future product development and production capabilities, shipments to end customers, market acceptance of new and existing products, additional
competition from existing and new competitors for bromine and other oilfield and power production chemicals, changes in technology, the
ability to make future bromine asset purchases, and various other factors beyond its control. All forward-looking statements are expressly
qualified in their entirety by this statement and the risks factors detailed in the company's reports filed with the Securities and Exchange
Commission. Gulf Resources undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after
the date of this release.
CONTACT: Gulf Resources, Inc.
Web: http://www.gulfresourcesinc.com
Director of Investor Relations
Helen Xu (Haiyan Xu)
beishengrong@vip.163.com
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Dec. 22, 2023 |
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|
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Gulf Resources, Inc.
|
| Entity Central Index Key |
0000885462
|
| Entity Tax Identification Number |
13-3637458
|
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NV
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Industrial Park
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Shouguang City
|
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CN
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262700
|
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+86 (536)
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567 0008
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