Gulf Resources Provides Updates On Its Business Operation
February 09 2023 - 8:30AM
Gulf Resources, Inc. (Nasdaq: GURE) ("Gulf Resources" or the
"Company"), a leading manufacturer of bromine, crude salt and
specialty chemical products in China today provides updates on its
business operation.
On December 9, 2022, Gulf Resources announced that
its all bromine facilities in Shouguang City will be temporarily
closed from December 10, 2022 until February 1, 2023 8:00 AM China
Time following the notification from the government of Shouguang
City . To comply with such notification, the Company had
temporarily stopped production at its bromine facilities in
Shouguang City during the aforesaid period.
The Company believed the seasonal closure ordered
by the government was part of governmental action plan to curb air
pollution in the winter and improve the comprehensive development
efficiency of brine resources. The company reopened the operating
bromine and crude salt factories as planned recently.
After the reopening, it took three to four days for
the Company to test the equipment and then began production.
About Gulf Resources, Inc.
Gulf Resources, Inc. operates through four
wholly-owned subsidiaries, Shouguang City Haoyuan Chemical Company
Limited ("SCHC"), ShouguangYuxin 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 the PRC, the risks associated
with the COVID-19 pandemic outbreak, 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 Cautionary 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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