Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 41

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 1A
Chunk 41
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 more authorities in Hong Kong.
The PCAOB has made such designations as mandated under the HFCAA. Pursuant to each annual determination by the PCAOB, the SEC will, on
an annual basis, identify issuers that have used non-inspected audit firms and thus are at risk of such suspensions in the future. On
August 26, 2022, the PCAOB signed the Protocol with the CSRC and the MOF of the People’s Republic of China, governing inspections
and investigations of audit firms based in mainland China and Hong Kong. The Protocol remains unpublished and is subject to further explanation
and implementation. Pursuant to the fact sheet with respect to the Protocol disclosed by the SEC, the PCAOB shall have independent discretion
to select any issuer audits for inspection or investigation and the unfettered ability to transfer information to the SEC. On December
15, 2022, the PCAOB announced that it was able to secure complete access to inspect and investigate PCAOB-registered public accounting
firms headquartered in China mainland and Hong Kong completely in 2022. The PCAOB Board vacated its previous 2021 determinations that
the PCAOB was unable to inspect or investigate completely registered public accounting firms headquartered in China mainland and Hong
Kong. However, whether the PCAOB will continue to be able to satisfactorily conduct inspections of PCAOB-registered public accounting
firms headquartered in China mainland and Hong Kong is subject to uncertainty and depends on a number of factors out of our, and our auditor’s,
control. The PCAOB is continuing to demand complete access in China mainland and Hong Kong moving forward and was already making plans
to resume regular inspections in early 2023 and beyond, as well as to continue pursuing ongoing investigations and initiate new investigations
as needed. The PCAOB has indicated that it will act immediately to consider the need to issue new determinations with the HFCAA if needed.
Therefore, the PCAOB may in the future determine that it is unable to inspect or investigate completely registered public accounting firms
in mainland China and Hong Kong.

Our auditor,
GGF CPA LTD, Certified Public Accountants, the independent registered public accounting firm that issued the audit report included in
our annual report, an auditor of companies that are traded publicly in the United States and an China-based accounting firm registered
with the PCAOB, is subject to laws in the United States pursuant to which the PCAOB conducts regular inspections to assess its compliance
with the applicable professional standards. Our auditor is based