Company: GURE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001193805-25-001184
Chunk: 27

Company: GULF RESOURCES, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 27
---
21,787 and $43,515. The expense associated
with this agreement for the three and six months ended June 30, 2024 was approximately $21,885 and $43,867.

NOTE 10 – RELATED PARTY TRANSACTIONS –
Continued

    a)
    Related parties

    Name of related parties
    Position
  
    Yang Ming
    Chairman Of the Board
  
    Liu XiaoBin
    Chief Executive Officer
  
    Li Min
    Chief Financial Officer
  
    Miao NaiHui
    Chief Operating Officer
  
    Chengdu Dianjinshi Culture media Co., LTD
    Affiliated with company officers

b)

    June 30, 
    December 31,

    2025 
    2024
  
    Amount due to related parties: 

    Yang Ming 
    $412,062  
    $410,350 
  
    Liu Xiao Bin 
     887,214  
     887,214 
  
    Li Min 
     652,495  
     636,264 
  
    Miao Nai Hui 
     637,718  
     650,980 
  
    Total 
    $2,589,489  
    $2,584,808 

c)

    June 30, 2025 
    December 31, 2024
  
    Due from related party: 

    Chengdu Dianjinshi Culture media Co., LTD 
    $25,144  
    $25,040 
  
    Total 
    $25,144  
    $25,040 

    15 

GULF RESOURCES, INC.

AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

JUNE 30, 2025

 (Expressed in U.S. dollars)

(UNAUDITED)

NOTE 11 – TAXES PAYABLE

    June 30, 
    December 31,

    2025 
    2024
  
    Land use tax payable 
    $19,398  
     19,318 
  
    Value added tax and other taxes payable 
     278,639  
     94,681 
  
    Total 
    $298,037  
    $113,999 

NOTE 12 – LEASE LIABILITIES-FINANCE AND
OPERATING LEASE

The components of finance lease liabilities were