Gulf Resources provides business update on bromine segment

Gulf Resources (GURE) issued a press release providing an update on its bromine segment. In 2024, the bromine segment reported a net loss of $8,200,236 on revenues of $5,549,815. Two primary factors contributed to this loss. First, bromine prices were significantly depressed. The average price for 2024 was RMB 17,561, representing a decline of 27.1% from 2023 and 67.3% from 2022. Due to these unfavorable market conditions, the Company intentionally scaled back bromine sales. As a result, sales volume dropped by 71.7% year-over-year. This sharp decline in volume led to a substantial increase in the cost per tonne-up 83.4%-as fixed costs and overhead expenses had to be spread across a much smaller production base.