Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 464

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 7
Chunk 464
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 the same period in 2023.

    Income (loss) from Operations by Segment

    Year ended December 31, 2024 
    Year ended December 31, 2023
  
    Segment: 
      
    % of total 
      
    % of total
  
    Bromine 
    $(17,238,619) 
     83.9% 
    $(10,005,755) 
     90.1%
  
    Crude Salt 
    $(76,694) 
     0.4% 
    $640,309  
     (5.8%)
  
    Chemical Products 
    $(3,028,479) 
     14.7% 
    $(1,653,349) 
     14.9%
  
    Natural Gas 
    $(195,364) 
     1% 
    $(86,284) 
     0.7%
  
    (Loss from operations before corporate costs 
    $(20,539,156) 
     100% 
    $(11,105,079) 
     100%
  
    Corporate costs 
    $(744,493) 
        
    $(785,646) 

    Loss from operations before taxes 
    $(21,283,649) 
        
    $(11,890,725) 

Bromine segment

Loss from operations from our bromine segment was $17,238,619
for the fiscal year 2024, compared to a loss of $10,005,755 in the same period in 2023. This decrease was due to a decrease in bromine
unit price of 27% and a decrease in volume of 72%.

Crude salt segment

Loss from operations from our
crude salt segment was $76,694 for fiscal year 2024 compared to an income of $640,309 in the same period in 2023. The main reason for
the decline in crude salt in 2024 compared with 2023 is that the unit price of sales is down by 13%, and the sales volume is also down
by 20%.

Chemical products segment

Loss from operations from our chemical products segment
was $3,028,479 for the fiscal year 2024, compared to a loss of $1,653,349 in the same period in 2023.

Natural Gas segment

Loss from operations from our natural gas segment was $195