Company: GURE
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001193805-25-001627
Chunk: 88

Company: GULF RESOURCES, INC.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 2
Chunk 88
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 80% of the transfer price shall be paid upon the execution of the agreements, and the remaining 20%
shall be paid in shares of common stock of the Company within three months from the date of the agreements after SHSI has inspected the
and accepted the crude salt fields in writing. 

On
December 17, 2024, SHSI entered into an amendment to the acquisition agreement with Seller B, pursuant to which the Article 2. 2 of the
agreement has been amended as follows: (80%) of the total amount, equaling RMB32,460,000 had been paid on the date of signing the contract
by both parties. The remaining RMB8,115,000 shall be paid in a combination of common stock of the Company and cash as follows: (1) RMB3,246,000
shall be paid in shares, calculated on a per share price of US$1.5, using the exchange rate RMB/US$:7.27. These shares shall be issued
by the Company to Seller B or Seller B’s designated parties within three months after SHSI has inspected and accepted the crude
salt field in writing; (2) the balance shall be paid in cash before December 31, 2028.

On
December 17, 2024, SHSI entered into an amendment to the acquisition agreement with Seller C, pursuant to which the Article 2. 2 of the
agreement has been amended as follows: Eighty percent (80%) of the total amount, equaling RMB35,311,680 had been paid on the date of signing
the contract by both parties. The remaining RMB8,827,920 shall be paid in a combination of common stock of the Company and cash as follows:
(1) RMB3,531,168 shall be paid in shares, calculated on a per share price of US$1.5 per, using the exchange rate RMB/US$:7.27. These shares
shall be issued by the Company to Seller C or Seller C's designated parties within three months after SHSI has inspected and accepted
the crude salt field in writing; (2) the balance shall be paid in cash before December 31, 2028.

On
December 17, 2024, SHSI entered into an amendment to the acquisition agreement with Seller D, pursuant to which the Article 2. 2 of the
agreement has been amended as follows: Eight