Company: GURE
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001193805-25-001627
Chunk: 77

Company: GULF RESOURCES, INC.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 1
Chunk 77
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-90 days 
     —  
     —  
     —  
     — 
  
    Aged 91-120 days 
     —  
     —  
     —  
     — 
  
    Aged 121-150 days 
     —  
     —  
     —  
     — 
  
    Aged 151-180 days 
     —  
     —  
     —  
     — 
  
    Aged 181-210 days 
     —  
     —  
     —  
     — 
  
    Aged 211-240 days 
     —  
     —  
     —  
     — 
  
    Total 
    $3,422,564  
     100% 
    $564,523  
     100%

The overall accounts receivable balance as of September 30, 2025 increased
by $2,858,041, as compared to those of December 31, 2024. We have policies in place to ensure that sales are made to customers with an
appropriate credit history. We perform ongoing credit evaluation on the financial condition of our customers.

32 

Inventory

Our inventory consists of the following:

    September 30, 2025 
    December 31, 2024

    % of total 
      
    % of total
  
    Raw materials 
    $30,870  
     6% 
    $10,610  
     3%
  
    Finished goods 
     451,842  
     94% 
     304,761  
     97%
  
    Total 
    $482,712  
     100% 
    $315,371  
     100%

The net inventory level
                                                                                              as of September 30, 2025 increased by $167,341, as compared to the net inventory level as of December 31, 2024. The main reason for
                                                                                              the increase in inventory is to ensure the timely demands of customers, thereby increasing the stock.

Raw materials increased by $20,260 as of September
30, 2025 as compared to December 31, 2024.

Our finished goods increased by $147,081 as of
September 30, 2025 as compared to December 31,