Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 225

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 3
Chunk 225
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CEMBER 31, 2024

(Expressed in U.S. dollars)

    Years Ended December 31,
  
    Reconciliations 
    2024 
    2023
  
    Total segment operating loss 
    $(20,539,156) 
    $(11,105,079)
  
    Corporate costs 
     (744,493) 
     (785,646)
  
    Unrealized gain (loss) on translation of intercompany balance 
     —  
     — 
  
    Loss from operations 
     (21,283,649) 
     (11,890,725)
  
    Other expense, net 
     (62,113) 
     144,919 
  
    Expenditure on water pollution treatment 
     —  
     (46,510,856)
  
    Loss on disposal of property, plant and equipment 
     (29,169,008) 
     — 
  
    Impairment of Property, plant and equipment 
     (6,772,500) 
     — 
  
    Loss before taxes 
    $(57,287,270) 
    $(58,256,662)

The following table shows the major customers (10% or more)
for the year ended December 31, 2024

Business Segments - Schedule of
Revenue by Major Customers

        Bromine 
        Crude
Salt 
      Chemical
Products 
      Total
Revenue 
    Percentage
of Total
  
    Number 
    Customer 
    (000’s) 
    (000’s) 
    (000’s) 
    (000’s) 
    Revenue (%)
  
    1	 
    Shandong Morui Chemical Company Limited 
    $677  
    $770  
    $—  
    $1,447  
     18.9%
  
    2 
    Shandong Brother Technology Limited 
    $646  
    $702  
    $—  
    $1,348  
     17.6%
  
    3 
    Shouguang Weidong Chemical Company Limited  
    $646  
    $578  
    $—  
    $1,224  
     16.0%

The following table shows the major customers (10% or more) for the
year ended December