Company: GURE
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001193805-25-000638
Chunk: 44

Company: GULF RESOURCES, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 44
---
 located in the second living area of the Qinghe Oil Extraction Plant to Bohai
Park. As a result, direct labor and factory overhead costs (including depreciation of plant and machinery) in the amount of $3,225,808
and $3,734,689 incurred for the three-month periods ended March 31, 2025 and 2024, respectively, of factories that have not resumed production
were presented as part of the operating expense.

General and Administrative ExpensesGeneral and administrative expenses were $1,389,523 for the three-month period ended March 31, 2025, an increase of $672,067 (or 94%)
as compared to $717,456 for the same period in 2024.

Loss from OperationsLoss from operations
was $4,610,207 the three-month period ended March 31, 2025, compared to loss from operation of $5,269,419 in the same period in 2024.

                                                                     Loss from Operations by Segment                                                                                   
                                                                     Three-Month Period Ended                                       Three-Month Period Ended                           
  Segment:                                                                                                                                                                             
  Bromine                                                            $                                    (3,370,836      77.9      $                             (4,782,815       92  
  Crude Salt                                                                                                (554,062      12.8                                       (75,092        1  
  Chemical Products                                                                                         (358,629       8.3                                      (314,824        6  
  Natural Gas                                                                                                (44,844         1                                       (27,709        1  
  Loss from operations before corporate costs                                                             (4,328,371       100                                    (5,200,440      100  
  Corporate cost                                                                                            (281,836                                                 (68,979           
  Unrealized gain (loss) on translation of intercompany balance                                                    —                                                       —           
  Loss from operations                                               $                                    (4,610,207                $                             (5,269,419           

Bromine segment

Loss from operations from our bromine segment was $3,370,836 for the
three-month period ended March 31, 2025, compared to loss from operations of $4,782,815 in the same period in 2024. This decrease
was due to the a 45% increase in average selling price partially offset by a decrease of 11% in tonnes sold.

Crude salt segment

Loss from operations from our crude salt segment was $554,062 for the