secwatch.observer — SEC 8-K summary
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Issuer:     GULF RESOURCES, INC. (GURE)
CIK:        0000885462
Form:       8-K
Filed at:   2023-08-14T23:59:59+00:00
Accession:  0001193805-23-001177
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gulf Resources reports Q2 net loss of $0.07/share; bromine prices down 74% from peak
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- Q2 net loss of $681,816 ($0.07 EPS) vs. profit of $3.9M ($0.37 EPS) a year ago; revenue fell 49% to $8.0M.
- Six-month net loss of $1.24M ($0.12 EPS); revenue $17.3M, down 30% YoY on weak bromine demand.
- Bromine price fell to RMB 18,000/tonne on June 30 from RMB 69,500 in Oct 2021; price since recovered 34% to RMB 24,200.
- Cash from operations of $11.0M in H1; cash balance $115.3M ($11.05/share); net net cash $97.2M ($9.32/share).
- Company delaying approval for two idle bromine factories and equipment delivery for Yuxin Chemical until market improves.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/885462/000119380523001177/0001193805-23-001177-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/885462/000119380523001177/e618873_8k-gulf.htm
  HTML page:      https://secwatch.observer/filing/0001193805-23-001177

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