Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 365

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 6
Chunk 365
---
,700
for shares issued to company employees, officers and consultant for the year 2024.

Net Loss
of $61,795,279 for year 2023 was mainly attributable to decreased sales and reduced margins. Additionally, the compensation expenses amounted
to $451,350 for shares issued to company employees, officers and consultant for the year 2023. The Company also incurred losses
of $46,510,856 on a flood prevention project.

Net Revenue The
table below shows the changes in net revenue in the respective segment of the Company for the fiscal year 2024 compared to the same period
in 2023:

    Net Revenue by Segment 

    Segment 
    Year Ended
                                                                December 31, 2024
                                                                % of total 
    Year Ended
                                                                December 31, 2023
                                                                % of total 
    Percent Increase (Decrease)  of Net Revenue
  
    Bromine 
    $5,549,815  
     72.4% 
    $26,921,462  
     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