Gulf Resources, Inc. provided earnings guidance for the third quarter ending September 30, 2022 and full year ending December 31, 2022. For the quarter, the company projected that the bromine and crude salt segments are to generate revenues of approximately $20.0 million to $21.8 million, an increase of approximately 12.4% to 22.5% from that of the previous year. Profit before income tax is expected to be approximately $9.0 million to $10.3 million, an increase of approximately 20.0% to 37.3% from that in the previous year.

For the full year, the company projected the bromine and crude salt segments are to generate revenues of approximately $62.0 million to $63.7 million, an increase of approximately 12.7% to 15.8% from that of the previous year. The Company estimates that there will be fewer days of operation in the fourth quarter 2022 as compared to last year due to the earlier Chinese New Year. In addition, because of the current softness in the Chinese economy and for purposes of conservatism, the Company is assuming the selling pricing in the fourth quarter of 2022 will be below the fourth quarter of 2021. Profit before income tax is projected to be approximately $20.0 million to $21.5 million, an increase of 63.9% to 76.2% from that in the previous year.