Bromine, crude salt and other chemical products are highly desired in many industries in China. These products are essential for the oil and papermaking industries. China is the fourth largest bromine producer worldwide behind the US, Israel and Jordan. The production of bromine is estimated to reach over 130,000 tons/year in China. Demand for bromine in China continues to outpace supply. Currently, bromine sales worldwide are $1.24 billion with $290 million originating from China.
GFRE has an annual production capacity estimated at 26,700 tons and possesses rights on over 18,775 acres of property with proven and probable reserves of over 1.7 million tons of Bromine.Currently,
GFRE is the largest producer of bromine in China with a domestic market share greater than 15%.
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 ).
SCHC
SCHC is one of the top producers and distributors of bromine and crude salt in China, which are utilized to manufacture a wide variety of industrial compounds and products. The company employs a total of 103 people, including 6 managers, 8 technicians and 5 sales associates.
SYCI
SYCI produces and distributes chemical products and agents used in oil and gas field explorations, oil and gas distribution, oil field drilling, wastewater processing, and in the papermaking industry. The company services large customers such as SINOPEC and PetroChina. Currently, there are 98 employees at the company, including 5 managers, 10 technicians and 8 sales associates.
China is down more than 50%,nobody talks about it and everybody who is anybody hates it.The company itself is down 11.61% today.
from yahoo finance
financials
http://finance.yahoo.com/q/ks?s=GFRE.OB
PE 10.79
PB 5.83(high)
ROE 70.51%
Debt/equity 0.583
$1.37 (04/17/08)
