Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 556

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 8
Chunk 556
---
 and 10,726,924 and 10,726,924 shares outstanding as of December 31, 2024 and 2023 
     24,623  
     24,623 
  
    Treasury stock; 285,830 shares as of December 31, 2024 and 2023 at cost 
     (1,372,673) 
     (1,372,673)
  
    Additional paid-in capital 
     101,688,262  
     101,688,262 
  
    Share to be issued 
     194,700  
     — 
  
    Retained earnings unappropriated 
     37,358,804  
     96,294,256 
  
    Retained earnings appropriated 
     26,667,097  
     26,667,097 
  
    Accumulated other comprehensive loss 
     (20,854,143) 
     (18,053,269)
  
    Total Stockholders’ Equity 
     143,706,670  
     205,248,296 
  
    Total Liabilities and Stockholders’ Equity 
    $169,455,995  
    $226,671,708 

The accompanying notes are an integral
part of these consolidated financial statements.

F-3 

GULF RESOURCES, INC.

AND
SUBSIDIARIES

CONSOLIDATED STATEMENTS OF COMPREHENSIVE
INCOME (LOSS)

(Expressed in U.S. dollars)

    Years Ended December 31,

    2024 
    2023

    NET REVENUE 
    $7,661,010  
    $30,043,790 

    OPERATING COSTS AND EXPENSE 

    Cost of revenues 
     (14,746,741) 
     (28,089,953)
  
    Sales and marketing expenses 
     (46,264) 
     (59,055)
  
    Direct labor and factory overheads 
     (8,880,643) 
     (9,544,675)
  
    General and administrative expenses 
     (5,271,011) 
     (4,240,832)
  
    TOTAL OPERATING COSTS AND EXPENSE 
     (28,944,659) 
     (41,934,515)

    LOSS FROM OPERATIONS 
     (