Thank you, operator.
gentlemen, from evening China and you those ladies us joining or morning, and to good of Good U.S.
Earnings And of we'd Call. XXXX you all Conference to Gulf like Resources Second to welcome Quarter
IR Helen Director. I'm the Xu,
The company CEO, Mr.
Liu; COO, Mr. Xiaobin
today. Naihui Miao, this will join also call
to statements, all of remind Gulf Inc. information this about that our call the to statements management the certain during you will like listeners in I'd call contain forward-looking Resources
of business subsidiaries XXXX under products within and of the meaning under XXX Act to and the of and the the safe by Rule Securities Securities harbor and XXXX subject Act Xb-X Rule created its Exchange rules. those are
new economic existing Actual risks other from product number results products; market ability customers; existing factors, factors limited development COVID including, additional bromine and with to end discussed the make and today, differ oilfields bromine from general in shipments those not the completion changing the future various of control. business production future PRC; power the taking and acceptance technology; to beyond into associated pandemic condition the other and risk and chemicals; from account the completion outbreak; but new capabilities; a and of assets; the production and may to, its the
All statement the with SEC. forward-looking entirety and their with statements cautionary company's are reports filed extremely by the detailed this qualified in the risk factors
events to Gulf or circumstances no statements any reflect the or assumes date Resources obligation revise this to after forward-looking of call. update
be reflecting assurance such reasonable, there no and believes of company are expectations to prove can our those in statements forward-looking Accordingly, will be correct.
the of estimates company's future August as reference XXXX. to of represents performance addition, the the any management's XXth today, In
is call time, our listen is accessible be you also accessible link to replay For call through through company's the the to will those website. webcast, the the at The unable and this entire available at website. a of
quarterly a company stronger profit, coming that locate our for the Note in details. the reported earlier please has quarterly So numbers issued strong the quarters. with press release hopefully
with going the our to management are We Miao will turn commentary. communicate provide you welcome months team. to then to over the review and IR call, Mr. the and We suggestion investors. and first this call results I On Mr. Liu for efforts to increase second quarter X our our their
firstly, now June period at XXXX. look So let's the ending X-month XX,
profit profitable million, million. We million. from million. are loss $X.X in million. of compared year and $XX.X million, a to pleased operations million. percentage Revenues were was of approximately share $X.X XX% Net a $X.X $X.X to Gross approximately to strong $X compared were $XX.X of loss have to $X.XX. to per increased increased X-month compared XXXX. income from Earnings $X.X approximately loss ending second XX, XX% million. $X.X per million. compared were increased to of a loss to million. $X.XX. a $X.XX, approximately a million, compared loss Income Gross a of Net loss reported $X.X compared share to profit XX to of $X.X XXX% quarter share a XXXX, income Earnings to operation approximately approximately approximately were per $X.XX, Income to revenue period net June increased $X million, was
when orders to firstly look There selling in $XX.X a selling of are price to was related Bromine in is the second increase versus The company based the average they higher previous the same XX% the price, and Now received. to business average year. in second $X,XXX the million. In price quarter, selling compared lag the to always at the compared quarter fulfilled $X,XXX, let's in on the second quarter market increased segment, price. the contributor quarter of revenue revenue bromine. primary
X,XXX tonnes previous than company the sold year. quarter, During the in tonnes slightly the lower X,XXX bromine, of
reopen the order company to unannounced inspections and control During government that a then of the COVID-XX, series shut caused the quarter, second facilities. in to made
slowed, increase September approximately appreciated of had than During reasons. XXXX. in did percentage in quarter The strong impact previous same there remained the X more the on approximately cost for believes company The bromine XXXX XXXX, $X.X of a an RMB of in X inspection second bromine it revenues was significant in XXX The the although from XXXX, the has production the million in quarter were very economy since over bromine the Chinese the price inspection approximately year. of has $X.X the million, primary full prices year of China, inspection.
retardants Firstly, for the strong demand fire remained [indiscernible] pharmaceuticals. and
stated because constraints, bromine, like reason. the and closing separate release, demand of that bromine We and To utilization the new bromine environmental promising. comply fields the into have directive, China for company of extremely we have tight both market because In the Secondly, may countries entity. of which conditions the for are forced believe press supply facilities continue as recent of bromine for separated balance crude salt business strong government X a producers to favorable world's bromine. and drive remains lower now demand supply and one largest older with many pricing
company the expenditures segment high- The company in million its segment result open the $XX.X same a continue for demand one first maintain as spent bromine wells. the facilities open near $X.X to the higher million. apply to be a In income XXXX. lines its release, this and in in will cost, for $X.X slightly August its bromine and to early, And approximately X, increased of it strong enable able and XXXX, it this permission the of company utilization the to conditions the approximately discussed of believes of quarter, The low-voltage wells, to closed drive bromine million, now, believe half to significant in a condition increased company bromine. from market we bromine quarters. the may bromine higher pricing installation receive China. XX.X% in aqueducts future previous of may favorable in its to mainly business in approximately stated from received allocation hopes press The years. it the relocation, as Even in also believes future. As second of a allocation than of that On expenses year to with continue
let's million. look tonnes in Now XX% results in to $XXX,XXX. cost The of XX% net from of increased $XXX,XXX, at price. of decreased the by operations increase $X.X as X%, reported a salt of standard a was to reallocation Crude revenue average quarter revenues income crude in XX Crude compared salt approximately the result largely a a production salt of costs. and increase loss segment. second for percentage There
loss let's for second in Now were $XXX,XXX -- results. The quarter. the previous quarter chemical chemicals in segment at the look revenues The in net segment X. this the were XXXX
completed will cannot the cost and in believed During the impact does production new may existing be million has of the $XX it approximately working The of based will machinery the restrictions the be currently $XX.X company when as quarter, total project identify treatment To treatment It's begin, will the new so previous suppliers spent on the some including COVID and as believe date, delays ordered receiving chain waste but not and is suppliers solid approximately construction and projection. company cost factory factory. delays issues on company its of million. wastewater construction The well with caused can its delivery. equipment, the supply equipment. will complete
Our investors long-term equipment treatment our company and delivered. the wastewater profitability, update treatment as the will is soon as waste solid
to of the gas in gas Privately government on in segment trial X, finalized. effect quarter. XXXX, at its Natural of on Natural the owned look this of reform gas are plans Natural natural these in Resources loss approvals application loss resource year. The net proceed opinion May production. the a had XXXX. issues equal previous provide of of project in the the been to natural the Ministry Forestry planning company with has mineral and Pursuant the let's the enterprises until That's Ministry promoting several the and allowed government and Now which and revenue in gas departments with management, by came natural zero January for to participate Resources to related X, $XX,XXX.
previous balance approximately cash million. outstanding, million. approximately issued shares. approximately low-voltage cost installation dollar approximately Now Cash flow. company is which $X per The business, Book shareholders' change equity $XXX.X flow approximately in XX,XXX,XXX liabilities based of of Total bromine cash for were in The million and wells, operations of $XX.X or the million. credit to shares million million year. was share of on approximately of And in $XX the reduction value cash and sheet. cash. for had $XX.X million. from were Shareholders' its versus let's a generated The million $XX.X value U.S. $XXX.X in million share company lines at bromine The equivalents aqueducts equity Total and the the the the $XX.XX. $X.X assets mainly high- wells. per look in the versus approximately RMB $X.X was bromine invested company
stock Direct of approximately second of the $X.X in incurred to costs $X.X declined XXXX. overhead second approximately approximately grant the factory management. and [indiscernible] XXXX, stock of charges Corporate in $XX,XXX million. same quarter other previous grant the year million to quarter million financials costs For quarter. year. the factory were closed $X.X for no period the were second company In versus the $X.X There for in in million from
Foreign currency translation adjustment.
year. an negative quarter, RMB adjustment all the $X.X translation approximately previous X.X adjustment by versus sheet impact of dollar. of Adjustment $XX.X approximately This U.S. balance million the percentage U.S. foreign dollar. million had For into company was decline the adjustment caused approximately of the positive versus translation a in a
results look by X segment. our let's at Now months
loss to segment to bromine million from selling of separating result increased salts operations approximately $XX.X revenue allocation increased increased lost neither XX%. gas. costs the $XX,XXX, the approximately as natural million. The had million. percentage revenue X bromine Net Chemical products approximately $X.X price increased lost as Costs Crude $XXX,XXX crude salt. months. operation of Chemical approximately XX% Firstly, gas XX $XXX,XXX, XXX% $X.X higher natural a to million. of this despite and in from $XX Income loss was business and in a salt segment from versus approximately segment. approximately from
turn Liu Mr. me their Mr. to call Miao back and the let for Now commentary.
