Breaking News

Over a quarter ago
Show Full Stories

X

To view all stories in expanded form, please subscribe.
Send Info
Hot Stocks
Gulf Resources says production has ramped up at bromine facilities » 08:38
03/18/21
03/18
08:38
03/18/21
08:38
GURE

Gulf Resources

$4.41 /

-0.02 (-0.45%)

Gulf Resources provides…

Gulf Resources provides updates on its business operation. On November 30, 2020, Gulf Resources announced that the government of Shouguang City, ordered that all bromine facilities be temporarily closed from December 25, 2020 until February 19, 2021. 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. On February 19, 2021, as planned, the company reopened its four operating bromine and crude salt factories. After the reopening, it took three to four days for the Company to test the equipment and begin production. Since then, production has ramped up. It is currently at a level similar to its level in middle to late December 2020. At the time of the temporary closure, bromine was sold at RMB33,332 per tonnes. The current bromine selling price is approximately RMB34,500 per tonnes, up approximately 3.5% since December 2020. While crude salt production during winter months can be impacted by seasonally cold weather, the current bromine selling prices are almost double their low of RMB16,800 in October 2014 and relatively close to their all-time high of RMB34,970 in May 2019.

ShowHide Related Items >><<
GURE Gulf Resources
$4.41 /

-0.02 (-0.45%)

Hot Stocks
Gulf Resources to temporarily close Shouguang City bromine facilities » 08:38
11/30/20
11/30
08:38
11/30/20
08:38
GURE

Gulf Resources

$4.60 /

+0.08 (+1.77%)

Gulf Resources provided…

Gulf Resources provided operational guidance for fourth quarter 2020 and announced that it has received a notification from the government of Shouguang City, pursuant to which all bromine facilities in Shouguang City will be temporarily closed from December 25, 2020 until February 19, 2021 8:00 AM China Time. Such notification was issued on November 24, 2020, while Company received it on November 26th, 2020. To comply with such notification, the Company expects to temporarily stop production at its bromine facilities during the aforesaid period. The company said, "We believe this seasonal closure ordered by the government is part of governmental action plan to curb air pollution which is worse in the winter, and improve the comprehensive development efficiency of brine resources. The Company does not anticipate the closure will significantly impact the Company's business. Winter is normally a slow period for bromine production. Winter is also a slow period for crude salt which cannot be processed during the coldest months. Further, in 2020, when Chinese New Year was earlier, the seasonal closure went from December 16, 2019 to February 10, 2020, there is the same number of closure days ordered by these two government notifications. This company does not expect the closure will have a material impact on the 4th quarter 2020. The Company still believes it may reach break-even closely at net income approximately between $0.5 Million to $1.0 Million with revenue approximately between $8.0 Million to $9.0 Million for the fourth quarter, 2020 without considering non-operational factors which may arise for the quarter. The company also does not believe this closure will have a significant impact on 2021 results. The company's business is always closed for Chinese New Year holidays, which this year begins on February 12, 2021. Once the closure is ended, we intend to resume production. Since Shouguang City is the one of the largest bromine producing regions in China and since all factories in Shouguang City will be closed, we do not expect to lose business for 2021."

ShowHide Related Items >><<
GURE Gulf Resources
$4.60 /

+0.08 (+1.77%)

GURE Gulf Resources
$4.60 /

+0.08 (+1.77%)

Hot Stocks
Gulf Resources expects sales of bromine to increase 60%-65% over Q2 » 08:46
09/29/20
09/29
08:46
09/29/20
08:46
GURE

Gulf Resources

$4.98 /

-0.07 (-1.39%)

Gulf Resources provides…

Gulf Resources provides update on 3rd and 4th Quarter Bromine and Crude Salt Sales and Profits. Gulf Resources has continued to ramp up production of bromine and crude salt in the third quarter. The company said, :"We currently estimate sales of bromine in terms of tonne will increase 60-65% over that of the second quarter. Each of the months has shown an increase, with the greatest increase occurring in September 2020. At the present time, bromine is priced at approximately $4,441 per metric tonne, compared to $3,672 per metric tonne at the end of the second quarter, representing an increase of 20.9%. Crude salt sales are expected to increase about 45% in the third quarter. Sales in the third quarter are estimated to be between 75,000 and 80,000 metric tonnes, compared to 53,532 in the second quarter. While the company does not make projections, based on the expected sales level and current pricing, these businesses should operate at break-even closely. The company is very pleased with the continuing progress being made in its bromine and crude salt facilities. The company expects that October 2020 will also be a good month in terms of bromine sales. November sales also expected to be strong, although it may be lower than October. December is likely to be seasonally weaker as customers reduce purchases of raw materials in advance of the Chinese New Year. As a reference, in 2015 and 2016, the third quarter contributed approximately 29.3% of bromine tonnes sold compared to 18.5% in the fourth quarter. In these two years, bromine sales in tonnes were approximately 58.6% higher in the third quarter than in the fourth quarter. In addition, crude salt production can be negatively impacted by cold weather. There is no way to predict the weather in December. In 2016, when the weather was mild, we sold more tonnes of crude salt than in any other quarter of the year. However, at this point in time, it is impossible to predict the weather for November and December. Given our assumptions that weather could impact crude salt sales and that customers are likely to reduce bromine purchases prior to the Chinese New Year, the company still believes it may operate are break-even closely. The company plans to report 2020 third quarter results around mid-November, 2020."

ShowHide Related Items >><<
GURE Gulf Resources
$4.98 /

-0.07 (-1.39%)

GURE Gulf Resources
$4.98 /

-0.07 (-1.39%)

Options
Seven new option listings and eight option delistings on July 20th » 08:30
07/20/20
07/20
08:30
07/20/20
08:30
ALTG

Alta Equipment Group

$7.45 /

-0.07 (-0.93%)

, FUV

Arcimoto

$5.72 /

-0.39 (-6.38%)

, KC

Kingsoft Cloud

$35.73 /

+5.22 (+17.11%)

, NFE

New Fortress Energy

$19.09 /

+0.53 (+2.86%)

, SOS

SOS Limited

$3.01 /

-0.22 (-6.81%)

, TIGR

UP Fintech

$5.29 /

-0.02 (-0.38%)

, CRC

California Resources

/

+

, EYES

Second Sight

$0.96 /

+0.105 (+12.28%)

, GURE

Gulf Resources

$6.20 /

-0.12 (-1.90%)

, JRJC

China Finance Online

$13.76 /

-0.92 (-6.27%)

, POWL

Powell

$27.90 /

+0.55 (+2.01%)

, SRRA

Sierra Oncology

$13.10 /

+0.66 (+5.31%)

, XRF

China Rapid Finance

$0.00 /

+ (+0.00%)

New option listings for…

New option listings for July 20th include Alta Equipment Group Inc (ALTG), California Resources Corporation (CRCQQ), Arcimoto Inc (FUV), Kingsoft Cloud Holdings Ltd (ADS) (KC), New Fortress Energy LLC (Class A Stock) (NFE), SOS Limited (Class A ADS) (SOS), and UP Fintech Holding Ltd (Class A ADR) (TIGR). Option delistings effective July 20th include California Resources Corporation New (CRC), Second Sight (EYES), Gulf Resources (GURE), China Finance Online (JRJC), LSC Communications Inc (LKSDQ), Powell (POWL), Sierra Oncology (SRRA), and China Rapid Finance Limited (Class A ADS) (XRF).

ShowHide Related Items >><<
XRF China Rapid Finance
$0.00 /

+ (+0.00%)

TIGR UP Fintech
$5.29 /

-0.02 (-0.38%)

SRRA Sierra Oncology
$13.10 /

+0.66 (+5.31%)

POWL Powell
$27.90 /

+0.55 (+2.01%)

NFE New Fortress Energy
$19.09 /

+0.53 (+2.86%)

JRJC China Finance Online
$13.76 /

-0.92 (-6.27%)

GURE Gulf Resources
$6.20 /

-0.12 (-1.90%)

FUV Arcimoto
$5.72 /

-0.39 (-6.38%)

EYES Second Sight
$0.96 /

+0.105 (+12.28%)

CRC California Resources
/

+

ALTG Alta Equipment Group
$7.45 /

-0.07 (-0.93%)

ALTG Alta Equipment Group
$7.45 /

-0.07 (-0.93%)

06/08/20 B. Riley
Alta Equipment Group price target raised to $11 from $10 at B. Riley FBR
04/07/20
Fly Intel: Top five analyst initiations
04/07/20
Alta Equipment Group initiated with a Buy at Dougherty
03/17/20 B. Riley
B. Riley FBR downgrades seven Industrials on broadening COVID-19 impact
FUV Arcimoto
$5.72 /

-0.39 (-6.38%)

06/25/20 Aegis
Arcimoto initiated with a Buy at Aegis
06/15/20 Roth Capital
Arcimoto price target raised to $5 from $3 at Roth Capital
12/12/19
Arcimoto initiated with a Buy at Dougherty
09/06/19 H.C. Wainwright
Arcimoto initiated with a Buy at H.C. Wainwright
KC Kingsoft Cloud
$35.73 /

+5.22 (+17.11%)

06/29/20 Goldman Sachs
Kingsoft Cloud initiated with a Buy at Goldman Sachs
NFE New Fortress Energy
$19.09 /

+0.53 (+2.86%)

10/02/19
Fly Intel: Top five analyst initiations
10/01/19 BTIG
New Fortress Energy initiated with a Buy at BTIG
09/30/19 Citi
New Fortress Energy price target raised to $22 from $18 at Citi
09/20/19 Morgan Stanley
New Fortress Energy assumed with an Overweight at Morgan Stanley
SOS SOS Limited
$3.01 /

-0.22 (-6.81%)

TIGR UP Fintech
$5.29 /

-0.02 (-0.38%)

CRC California Resources
/

+

03/25/20 Imperial Capital
California Resources downgraded to In-Line from Outperform at Imperial Capital
03/17/20 Raymond James
California Resources downgraded to Market Perform from Outperform at Raymond James
03/17/20 Raymond James
California Resources downgraded to Market Perform from Outperform at Raymond James
03/09/20 BofA
California Resources downgraded to Underperform from Neutral at BofA
EYES Second Sight
$0.96 /

+0.105 (+12.28%)

04/01/20 H.C. Wainwright
Second Sight rating placed under review at H.C. Wainwright
12/13/19
Second Sight initiated with a Buy at Dougherty
GURE Gulf Resources
$6.20 /

-0.12 (-1.90%)

JRJC China Finance Online
$13.76 /

-0.92 (-6.27%)

POWL Powell
$27.90 /

+0.55 (+2.01%)

03/19/20 Sidoti
Powell shares oversold on oil & gas demand concern, says Sidoti
03/19/20 Sidoti
Powell upgraded to Buy from Neutral at Sidoti
12/03/19 Sidoti
Powell downgraded to Neutral from Buy at Sidoti
SRRA Sierra Oncology
$13.10 /

+0.66 (+5.31%)

12/06/19
Fly Intel: Top five analyst initiations
12/05/19 Oppenheimer
Sierra Oncology initiated with an Outperform at Oppenheimer
XRF China Rapid Finance
$0.00 /

+ (+0.00%)

SRRA Sierra Oncology
$13.10 /

+0.66 (+5.31%)

POWL Powell
$27.90 /

+0.55 (+2.01%)

NFE New Fortress Energy
$19.09 /

+0.53 (+2.86%)

KC Kingsoft Cloud
$35.73 /

+5.22 (+17.11%)

FUV Arcimoto
$5.72 /

-0.39 (-6.38%)

EYES Second Sight
$0.96 /

+0.105 (+12.28%)

CRC California Resources
/

+

  • 08
    May
  • 01
    May
  • 22
    Nov
CRC California Resources
/

+

FUV Arcimoto
$5.72 /

-0.39 (-6.38%)

CRC California Resources
/

+

CRC California Resources
/

+

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.