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Gulf Resources Appoints New CEO

March 16, 2009
Gulf Resources Inc., a leading manufacturer of bromine, crude salt, and specialty chemical products in China, has announced the appointment of Xiaobin Liu as chief executive officer and director. Liu replaces Ming Yang, who resigned from his position as CEO to devote more time to his other businesses. Yang will continue as chairman of the Board of Directors.

Liu has been closely involved with Gulf Resources since January 2007. Serving as vice president, he was responsible for all the company’s operations. From June 2005 to December 2006, he was the vice president of Shenzhen SEG. Dasheng Co. Ltd., a Shenzhen-listed company engaged in the real estate and hotel industries. From May 2000 to June 2005 he managed the securities department of Saige International Trust and Investment Corp. in Hainan province and was in charge of asset management. From May 1995 to May 2000, Mr. Liu served as the vice president of Hainan Wanquanhe Development, where he was in charge of corporate operations and financial control. Prior to that, he worked in the finance departments of Chinese Black Metal Ltd. and Shanxi Aircraft Manufacturing Co. He has a Master’s degree in international accounting from the City University of Hong Kong.

“We are pleased that Mr. Liu will officially take over as CEO of Gulf Resources and I will work with him closely to ensure a smooth transition,” said Ming Yang, chairman of Gulf Resources. “We believe his rich experience in key positions at large domestic public companies, knowledge of the capital markets, and previous experience with Gulf Resources provide him with the ideal skill set required to serve as the steward of our company as we pursue our growth strategy. I look forward to working with him in my current role as chairman.”

“I am thrilled to take on the role as CEO and to lead our efforts in executing our growth strategy,” said Liu. “We are determined to continue capitalizing on the ongoing consolidation of China’s bromine industry, in addition to leveraging our environmentally friendly initiatives in the chemical business segment.”

For more information, please visit www.gulfresourcesinc.cn.