Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 460

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 7
Chunk 460
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89.6% 
     (79.4%)
  
    Crude Salt 
     2,049,988  
     26.8% 
     2,971,467  
     9.9% 
     (31.0%)
  
    Chemical Products 
     —  
     —  
     —  
     —  
     — 
  
    Natural Gas 
     61,207  
     0.8% 
     150,861  
     0.5% 
     (59.4%)
  
    Total sales 
    $7,661,010  
     100.0% 
    $30,043,790  
     100.0% 
     (74.5%)

    Years Ended December 31 
    Percent Change
  
    Bromine and crude salt segments product sold in tonnes 
    2024 
    2023 
    Increase
  
    Bromine (excluded volume sold to SYCI) 
     2,250  
     7,951  
     (72%)
  
    Crude Salt 
     77,289  
     97,101  
     (20%)

38 

Bromine segment

Net revenue from our bromine segment decreased by 79.4%
to $5,549,815 for the year ended December 31, 2024, compared to $26,921,462 for the year ended December 31, 2023. This decrease was due
to a decrease in bromine unit price of 27% and a decrease in volume of 72%.

Crude salt segment

Net revenue from our crude salt segment decreased by 31.0%
to $2,049,988 for the year ended December 31, 2024, compared to $2,971,467 for the last year. This decrease was due to a decrease in crude
salt unit price of 13% and a decrease in volume of 20%.

Chemical products segment

For the years ended December 31, 2024
and December 31, 2023, the net revenue for the chemical products segment was $0 due to the closure of our chemical factories since September
1, 2017.

39 

Natural Gas segment

For the year ended December 31, 2024, and December 31, 2023