Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 311

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 5
Chunk 311
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       Related parties

    Name of related parties
    Position
  
    Yang Ming
    Shareholder
  
    LiuXiaoBin
    Chief Executive Officer
  
    LiMin
    Chief Financial Officer
  
    MiaoNaiHui
    Chief Operating Officer
  
    Chengdu Dianjinshi Culture media Co., LTD
    Affiliated with company officers

b)    

    December 31, 2024 
    December 31, 2023
  
    Amount due to related parties: 

    Yang Ming 
    $410,350  
    $416,484 
  
    LiuXiaoBin 
     887,214  
     887,214 
  
    LiMin 
     636,264  
     641,480 
  
    MiaoNaiHui 
     650,980  
     641,480 
  
    Total 
     2,584,808  
     2,586,658 

c)    

    December 31, 2024 
    December 31, 2023
  
    Due from related party: 

    Chengdu Dianjinshi Culture media Co., LTD 
    $25,040  
     — 
  
    Total 
    $25,040  
    $— 

NOTE 11 – TAXES PAYABLE        

    December 31, 2024 
    December 31, 2023
  
    Land use tax payable 
    $19,318  
    $24,689 
  
    Value added tax and other taxes payable 
     94,681  
     450,941 
  
    Total 
    $113,999  
    $475,630 

NOTE 12 – LEASE LIABILITIES - FINANCE AND OPERATING LEASE

The components of finance lease liabilities
were as follows:

Lease Liabilities - Finance and Operating
Lease - Schedule of Finance and Operating Leased Liabilities

    Imputed Interest rate 
    December 31, 2024 
    December 31, 2023
  
    Total finance lease liability 
    6.7% 
    $1,293,608  
    $1,485,575 
  
    Less: Current portion 
      
     (217,743) 
     (172,625)
  
    Finance lease liability, net of current portion 
      
    $1,