Gulf Resources ordered to close bromine facilities Dec 25 to Feb 20 by Shouguang government

GULF RESOURCES, INC.

Received notification from Shouguang City govt to temporarily close all bromine and crude salt facilities from Dec 25, 2023 to Feb 20, 2024.
Gains 15 production days in Q4 2023 vs prior closure (Dec 10 to Feb 1) but loses 19 days in Q1 2024.
Closure aligns with government efforts to address winter air pollution and improve brine resource efficiency.
Winter bromine sales are slower due to customer closures for Chinese New Year, partially offsetting impact.
Crude salt processing is challenging during coldest months due to low temperatures.

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