Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 456

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 7
Chunk 456
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 No. 9 in order to meet the needs of bromide products for epidemic
prevention and control (the “March 2020 Approval”). The Company’s factories No.7 and No.1 started trial production in
middle-March, 2020, and commenced commercial production on April 3, 2020.

The Company received oral notification
from the government regarding Factory No. 8, allowing it to resume production in August 2022. Factory No.8 began contributing revenue
in the fourth quarter 2022.

36 

The Company is awaiting governmental
approval for Factories No. 2 and No. 10. To our knowledge, the government is finalizing plans for all mining areas, including flood prevention
measures . As a result, we may be required to make certain modifications to our existing wells and aqueducts prior to commencement of
operations of these factories in order to satisfy the local government's requirements. The Company completed its flood prevention project
in December 2023. This project was implemented for safeguarding its bromine facilities.

Pursuant to the notification from
the government of Shouguang City, all bromine facilities in Shouguang City were temporarily closed from December 15, 2024 until February
12, 2025. In compliance with the notification, the Company ceased production at its bromine facilities during this period and resumed
preparation operations at the bromine and crude salt factories as scheduled in February 2025.

Chemical Products

On November 24, 2017, the Company
received a letter from the People’s Government of Yangkou County, Shouguang City notifying the Company that due to the new standards
and regulations relating to safety production and environmental pollution, from certain local governmental departments, such as the municipal
environmental protection department, the security supervision department and the fire department, its chemical enterprises would have
to be relocated to a new industrial park called Bohai Marine Fine Chemical Industry Park. Although our chemical companies were in compliance
with regulations, they were also close to a residential area. As a result, the government determined we should relocate to the Bohai park.
Chemical companies that are not being asked to move into the park are being permanently closed. Since our factories closed, the Company
has secured from the government the land use rights for its chemical plant. On January 6, 2020, the Company received the environmental
protection approval by the government of Shouguang