Company: GURE
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001193805-25-001627
Chunk: 94

Company: GULF RESOURCES, INC.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 2
Chunk 94
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30, 2025 and 2024, the
net revenue for the bromine segment was $8,052,331 and $1,571,313, respectively. The increase of the net revenue of bromine was due to
the 238% increase in tonnes sold and the 52% increase in average selling price of bromine in the third quarter of 2025. The average
selling price of bromine in the third quarter of 2025 was $3,637 compared to the average selling price of bromine in the third quarter
of 2024 of $2,396 (calculated by dividing revenue by tonnes).

Crude salt segment

For the three-month periods ended September 30, 2025 and 2024, the
net revenue for the crude salt was $992,250 and $654,039, respectively. The increase of net revenue of crude salt was mainly due to the
58% increase in tonnes sold and the 4% decrease in average selling price of crude salt for the three-month period ended September 30,
2025.

Chemical products segment

For the three-month periods ended September 30,
2025 and 2024, the net revenue for the chemical products segment was $0 due to the closure of our chemical factories since September 1,
2017.

Natural gas segment

For the three-month period ended September 30,
2025 and 2024, the net revenue was $0 and $17,013.

The decrease in income was due to the fact that the relevant documents
of the client were incomplete, which prevented us from continuing the cooperation.

23 

Cost of Net Revenue

    Cost of Net Revenue by Segment 
    Percent Change

    Three-Month Period Ended 
    Three-Month Period Ended 
    of Cost of

    September 30, 2025 
    September 30, 2024 
    Net Revenue
  
    Segment 
      
    % of total 
      
    % of total 

    Bromine 
    $7,666,463  
     96% 
    $3,794,088  
     93% 
     102%
  
    Crude Salt 
     330,322  
     4% 
     277,451  
     7% 
     19%
  
    Chemical Products 
     —  
     —  
     —  
     —  
     —