Gulf Resources
Extracts bromine and crude salt from Shandong brine for Chinese industry.
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Profile
Extracts elemental bromine and crude salt from Shandong brine for PRC industrial customers, with bromine as the core revenue-producing operation. A U.S.-listed holding structure oversees China-only operations, while production depends on licenses, government operating windows, and local brine access.
Produces elemental bromine and crude salt from brine in Shandong, China, selling through an in-house team to recurring domestic industrial customers. Bromine feeds flame retardants, fumigants, water-treatment compounds, dyes, medicines, disinfectants, and organic-synthesis intermediates; crude salt supplies alkali and chlor-alkali production along with chemical, food, and beverage uses.
Operates through a U.S.-listed holding structure with BVI and Hong Kong entities above the China subsidiaries. Price, product quality, delivery performance, supplier relationships, and access to local brine deposits shape competition. Production operates within annual licensing reviews and government-directed windows, while the Sichuan gas-and-brine project remains suspended pending approvals.
All disclosed sales and customers are in China, with revenue received substantially in renminbi and PRC rules constraining currency conversion, offshore remittances, and subsidiary dividends.
Company facts
Key statistics
Year to date +1.8% · Average volume (30d) 8.0K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 28, 2026 | — | −$2.48 | — | — | — | — | — |
| Aug 17, 2026 | — | −$1.51 | — | — | — | — | −0.33% |
| Nov 19, 2025Q3 FY25 | — | −$2.86 | — | — | $9.0M | — | −7.06% |
| Aug 13, 2025Q2 FY25 | — | −$0.06 | — | — | $8.3M | — | +2.46% |
Financial highlights
| 12 quarters | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.7M | $1.6M | $8.3M | $9.0M | $6.4M | $2.4M | |
| Gross profit | −$10.6M | $10.2K | $986.7K | $854.0K | $115.7K | $15.2K | |
| Operating income | −$6.3M | −$4.6M | −$750.7K | $246.3K | −$2.3M | −$4.1M | |
| Net income | −$18.4M | −$4.6M | −$773.8K | −$35.7M | −$2.9M | −$3.9M | |
| Diluted EPS | −$17.10 | −$4.00 | −$0.58 | −$26.35 | −$1.85 | −$2.48 | |
| Gross margin | -613.0% | 0.6% | 11.8% | 9.4% | 1.8% | 0.6% | |
| Operating margin | -363.7% | -287.3% | -9.0% | 2.7% | -35.9% | -171.3% |
Fiscal years (4-quarter sums)FY21 $55.0M · FY22 $66.1M · FY23 $30.0M · FY24 $7.7M · FY25 $25.4M
Revenue by product · Q1 FY26
Balance sheet, Mar 31, 2026Cash & short-term investments $6.5M · Total debt $12.5M · Total assets $132.8M · Shareholders' equity $109.9M
Dividends
No dividends on record.
Ownership
Shares outstanding 1.38M · Float 906.8K · 65.6% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Min Li · officer: Chief Financial Officer | 43.8K | 3.17% | Form 4 | Nov 24, 2025 |
| Xiaobin Liu · director, officer: Chief Executive Officer | 43.8K | 3.17% | Form 4 | Nov 24, 2025 |
| Naihui Miao · director, officer: COO & Secretary | 43.8K | 3.17% | Form 4 | Nov 24, 2025 |
| Citadel Advisors LLC | 22.0K | 1.60% | 13F | May 15, 2026 |
| Two Sigma Investments, LP | 17.6K | 1.27% | 13F | May 15, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- ICL
Global bromine and derivative producer with China operations.
- Albemarle
Global bromine-solutions supplier and Jordan Bromine co-owner.
