Gulf Resources, Inc. (NASDAQ:GURE) Q2 2020 Earnings Conference Call - Final Transcript

Aug 18, 2020 • 08:30 am ET

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Gulf Resources, Inc. (NASDAQ:GURE) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Hello and welcome to the Gulf Resources 2020 Second Quarter Earnings Conference Call. [Operator Instructions]

It is now my pleasure to turn the call over to Helen Xu. Please go ahead, Helen.

Executive
Helen Xu

Thank you, operator. Good morning, ladies and gentlemen, and good evening to all of you for joining us from China, and we'd like to welcome all of you to Gulf Resources' second quarter 2020 earnings conference call. My name is Helen, the IR Director. Our CEO of the Company, Mr. Xiaobin Liu will also join this call today.

I'd like to remind you to all our listeners that in this call certain management's statements during the call will contain forward-looking statements and information about Gulf Resources, Incorporation and its subsidiaries business and products within the meaning of Rule 175 on the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the Safe Harbor created by those rules.

Actual results may differ from those discussed today, taking into account a number of risk factors, including, but not limited to, the general economic and business condition in China, the risks associated with COVID-19 pandemic outbreak, future product developments and production capabilities, shipments to end customers, market expectations of new and existing products, additional competition from our existing and new competition from the bromine and the other chemical productions, changing technology, the ability to make future bromine assets and various of other factors beyond its control.

All forward-looking statements are expressly qualified in their entirety by these cautionary statements and the risk factors detailed with the Company's reports filed with SEC. Gulf Resources assumes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this call. Accordingly, our company believes the expectation reflecting in those forward-looking statements are reasonable, and there can be no assurance of such will prove to be correct. In addition, any reference to the Company's future performance represents the management's estimates as of today, the 17th of August, 2020.

For those of you unable to listen to this entire call at this time, a replay will be available at the Company's website. The call is also accessible through the webcast, and the link is accessible through our website. So please locate our press release issued earlier for the details. [Foreign Speech]

Executive
Xiaobin Liu

[Foreign Speech]

Executive
Helen Xu

Hi. Thank you very much for -- to attend the Gulf Resources 2020 second quarter earnings release conference call. So we had to close all of our facilities to -- so the down could move ahead on plans to improve the environment. Then just as we were getting some of our bromine and crucial operations back on line, we were hit by one of the most destructive typhoons in Chinese history. Then we were impacted by the COVID-19 pandemic, which caused the delay in reopening our facilities and those of our customers.

Executive
Xiaobin Liu

[Foreign Speech]

Executive
Helen Xu

Okay. This quarter, however, was transformed make shift period for our company. E-commerce commercial