Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 462

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 7
Chunk 462
---
 for the periods
divided by the annual production capacity in tonnes.

Bromine segment

For the year ended December 31, 2024, the cost of net revenue
for the bromine segment was $13,750,051. For the year ended December 31, 2023, the cost of net revenue for the bromine segment was $26,521,281.

Crude salt segment

For the year ended December 31, 2024, the cost
of net revenue for the crude salt segment was $996,396. The cost of net revenue for our crude salt segment for the year ended
December 31, 2023 was $1,567,993.

Chemical products segment

Cost of net revenue for our chemical products segment for
the fiscal year 2024 and 2023 was $0.

Natural Gas segment

Cost of net revenue for our natural gas segment for the
year ended December 31, 2024 and 2023 was $294 and $679.

40 

Gross (Loss) Profit. Gross (loss) was $7,085,731or
93%, of net revenue for the year ended December 31, 2024, compared to $1,953,837, or 7%, of net revenue for the same period in 2023.

    Gross Profit (Loss) by Segment 

    Year Ended
                                                                                December 31, 2024 
    Year Ended
                                                                                December 31, 2023 
    % Point Change
                                                                                of Gross
                                                                                Profit Margin
  
    Segment 
      
    Gross Profit
                                                                                (loss) Margin 
      
    Gross Profit
                                                                                (loss) Margin 

    Bromine 
    $(8,200,236) 
     (147%) 
    $400,181  
     2% 
     (145%)
  
    Crude Salt 
     1,053,592  
     51% 
     1,403,474  
     47% 
     4%
  
    Chemical Products 
     —  
     —  
     —  
     —  
     — 
  
    Natural Gas 
     60,913  
     100% 
     150,182  
     100% 
     0%
  
    Total Gross (Loss) Profit 
    $(7,085,731) 
     (