Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 459

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 7
Chunk 459
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) 
    $(11,890,725) 
     79%
  
    Other Income, Net 
    $(62,113) 
    $144,919  
     (143%)
  
    Expenditure on water pollution treatment 
    $—  
    $(46,510,856) 
     (100%)
  
    Loss on disposal of property, plant and equipment 
    $(29,169,008) 
    $—  
     N/A 
  
    Impairment of Property, plant and equipment 
    $(6,772,500) 
    $—  
     N/A 
  
    Loss before Taxes 
    $(57,287,270) 
    $(58,256,662) 
     (2%)
  
    Income Tax Expense (Benefit) 
    $(1,648,182) 
    $(3,538,617) 
     (53%)
  
    Net Loss 
    $(58,935,452) 
    $(61,795,279) 
     (5%)

Net Loss
of $58,935,452 for year 2024 was mainly attributable to decreased sales and reduced margins. The company also suffered a loss of $29,169,008
and $6,772,500 on retirement of fixed assets and impairment of fixed assets. Additionally, the compensation expenses amounted to $194,700
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