Company: GURE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001193805-25-001184
Chunk: 89

Company: GULF RESOURCES, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 2
Chunk 89
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 the quantity sold was 152% higher than in the second quarter of 2024.

Crude salt segment

For the three-month periods ended June 30, 2025 and 2024, the net revenue
for the crude salt was $667,411 and $523,935, respectively. The increase of net revenue of crude salt was mainly due to 22% increase in
average selling price of crude salt for the three-month period ended June 30, 2025.

Chemical products segment

For the three-month periods ended June 30, 2025
and 2024, the net revenue for the chemical products segment was $0 due to the closure of our chemical factories since September 1, 2017.

Natural gas segment

For the three-month period ended June 30, 2025
and 2024, the net revenue for the natural gas production was $0.

31 

Cost of Net Revenue

    Cost of Net Revenue by Segment 
    Percent Change

    Three-Month Period Ended 
    Three-Month Period Ended 
    of Cost of

    June 30, 2025 
    June 30, 2024 
    Net Revenue
  
    Segment 
      
    % of total 
      
    % of total 

    Bromine 
    $7,016,815  
     95% 
    $4,729,059  
     93% 
     48%
  
    Crude Salt 
     340,315  
     5% 
     382,999  
     7% 
     (11%)
  
    Chemical Products 
     —  
     —  
     —  
     —  
     — 
  
    Natural Gas 
     —  
     —  
     —  
     —  
     — 
  
    Total 
    $7,357,130  
     100% 
    $5,112,058  
     100% 
     44%

Cost of net revenue reflects mainly
the raw materials consumed and the direct salaries and benefits of staff engaged in the production process, electricity, depreciation
and amortization of manufacturing plant and machinery and other manufacturing costs. Our cost of net revenue was $7,357,130 for the
three-month period ended June 30, 2025, an increase of $2,245