Gulf Resources has become a leading provider of bromine as well as crude salt and produces an assortment of various specialty chemicals throughout China. The products that the company offers are necessary components for China’s flourishing oil and paper-making industries. Along with bromine, the company manufactures and supplies crude salt, which is primarily found in large quantities near the bromine brine wells. In 2006 alone, Gulf Resources delivered 10,000 tons of oil and gases related chemical products, in addition to 7,000 tons of papermaking related chemical products.
Gulf Resources in one of only six companies with a highly coveted Chinese license for bromine exploration, production and distribution. Bromine is a chemical element that is used in the refrigeration, medical, agrochemical, and oil field industries. Although China consumes all the bromine produced domestically, with the international market growing ever larger, Gulf Resource will capitalize on the growing demand for bromine with its large proven reserves in Shouguang, China.
Currently, the company is aggressively pursuing complementary acquisitions, paired with sustained organic growth. This strategy will help them become a more prominent worldwide player in the bromine and specialty chemical industries.
At the end of 2006 fiscal year, Gulf Resources had net assets of $8.88 million with total assets valued at over $13.98 million. As of October 2007, the market capitalization of the company was $198 million USD. Gulf Resources conducts its operations through its two wholly-owned subsidiaries: Shouguang City Hao Yuan Chemical Industry Co., Ltd. (SCHC) and Shouguang Yu Xin Chemical Industry Co., Ltd. (SYCI).
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