Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 77

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 1B
Chunk 77
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 COMPREHENSIVE INCOME (LOSS)
    F-4

    CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
    F-5

    CONSOLIDATED STATEMENTS OF CASH FLOWS
    F6 – F-7

    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
    F-8 – F-28

    FINANCIAL STATEMENT SCHEDULE:

    SCHEDULE I – PARENT ONLY FINANCIAL INFORMATION
    S-1 – S-3

F-1 

REPORT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders of

Gulf
Resources, Inc.

Opinion on the Financial Statements

We have audited the accompanying
consolidated balance sheet of Gulf Resources, Inc. and subsidiaries (collectively the “Company”) as of December 31, 2024,
and the related consolidated statements of comprehensive income (loss), stockholders’ equity, and cash flows for the year ended
December 31, 2024, the related notes, and financial statement schedule (collectively referred to as the “consolidated financial
statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position
of the Company as of December 31, 2024, and the results of its operations and its cash flows for each of the years in the year ended December
31, 2024, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These consolidated financial statements
are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s consolidated
financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board
(United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities
laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance
with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were
we engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding
of internal control