Financial ConditionAs of December 31, 2012, Gulf Resources had cash of $65.2 million, current liabilities of $11.0 million, and shareholders' equity of $264.2 million. At fiscal year end, the Company had working capital of $96.3 million and a current ratio of 9.8. For the twelve months ended December 31, 2012, the Company generated $20.5 million in cash flow from operations, primarily attributable to net income, and used $37.9 million in investing activities, mainly due to purchases of property, plant and equipment.
- In January 2013, the Company provided its 2013 financial forecast; please refer to the link http://finance.yahoo.com/news/gulf-resources-provides-2013-fiscal-133000384.html for further details.
- The Company completed the renovation of the commercial building which was acquired on September 25, 2012 and announced the commencement of the new office building in January, 2013.