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

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 1
Chunk 10
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(a)(1) because the bid price for the Company’s common stock had closed below $1.00 per share
for the previous 34 consecutive business days (the “Minimum Bid Price Requirement”). In accordance with Nasdaq Listing Rule
5810(c)(3)(A), the Company has been given 180 calendar days, or until May 5, 2025, to regain compliance with the Minimum Bid Price Requirement.
If at any time before May 5, 2025, the bid price of the Company’s common stock closes at $1.00 per share or more for a minimum of
10 consecutive business days, Nasdaq will provide written confirmation that the Company has achieved compliance. In the event the Company
does not regain compliance, the Company may be eligible for additional time. To qualify for the additional compliance period, the Company
will be required to (i) submit, no later than the expiration date, an on-line Transfer Application, (ii) submit a non-refundable $5,000
application fee, (iii) meet the continued listing requirement for the market value of its publicly held shares and all other continued
listing standards for The Nasdaq Stock Market, with the exception of the bid price requirement, and (iv) will need to provide written
notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split if necessary. As
part of its review process, Nasdaq will make a determination of whether they believe the Company will be able to cure this deficiency.
Should Nasdaq conclude that the Company will not be able to cure the deficiency, or should the Company determine not to submit a transfer
application or make the required representation, the Staff will provide notice that the Company’s securities will be subject to
delisting.

The
Nasdaq Price Deficiency Letter has no immediate impact on the listing of the Company’s common stock, which will continue to be listed
and traded on The Nasdaq Global Select Market, subject to the Company’s compliance with the other continued listing requirements
of The Nasdaq Stock Market.

5 

Corporate Structure

Our current corporate structure chart
is set forth in the following diagram:

6 

Currently, we operate our business
through our wholly-owned subsidiaries in China, including (i) Shouguang City Haoyuan Chemical Company Limited, or SCHC; (ii) Shouguang
Yuxin Chemical Industry Co., Limited, or SYCI; (iii) Daying County Haoy