Company: GURE
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001193805-25-001184
Chunk: 66

Company: GULF RESOURCES, INC.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 66
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to $9,158,243 for the six-month period ended June 30, 2025 compared to $3,005,431 for the same period in 2024 due to the higher selling
price of bromine and tonnes sold of bromine.

Crude salt segment

Net revenue from our crude salt segment increased
to $789,989 for the six-month period ended June 30, 2025 compared $640,606 for the same period in 2024 due to the higher selling tonnes
of crude salt.

Chemical products segment

For the six-month period 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 six-month period ended June 30, 2025 and 2024, the net revenue
for the natural gas production was $0 and $44,194, respectively. The 100% decrease in revenue was primarily due to the expiration of contracts.

Cost of Net Revenue

    Cost of Net Revenue by Segment 
    % Change

    Six-Month Period Ended 
    Six-Month Period Ended 
    of Cost of

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

    Bromine 
    $8,549,943  
     95.5% 
    $6,801,811  
     94.0% 
     26%
  
    Crude Salt 
     401,457  
     4.5% 
     429,893  
     5.9% 
     (7%)
  
    Chemical Products 
     —  
     —  
     —  
     —  
     — 
  
    Natural Gas 
     —  
     —  
     199  
     0.1% 
     — 
  
    Total 
    $8,951,400  
     100% 
    $7,231,903  
     100% 
     24%

Cost of net revenue reflects mainly the raw materials consumed-direct
salaries and benefits of staff engaged in the production process, electricity, depreciation and amortization of manufacturing plant and
machinery and