Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 12

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 1
Chunk 12
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 U.S. exchange.

On February 17, 2023, the China
Securities Regulatory Commission (‘CSRC”) released the Trial Measures for Administration of Overseas Securities Offerings
and Listings by Domestic Companies (the “Trial Measures”) and five supporting guidelines, which came into effect on March
31, 2023. Pursuant to the Trial Measures, domestic companies that seek to offer or list securities overseas, both directly and indirectly,
should fulfill the filing procedures and report relevant information to the CSRC. If a domestic company fails to complete the filing procedures
or conceals any material fact or falsifies any major content in its filing documents, such domestic company may be subject to administrative
penalties by the CSRC, such as order to rectify, warnings, fines, and its controlling shareholders, actual controllers, the person directly
in charge and other directly liable persons may also be subject to administrative penalties, such as warnings and fines. As a listed company,
we believe that we, and all of our PRC subsidiaries are not required to fulfill filing procedures and obtain approvals from the CSRC to
continue to offer our securities or operate our business as of the date of this annual report. In addition, to date, none of us and our
PRC subsidiaries has received any filing or compliance requirements from CSRC for the listing of the Company at Nasdaq and all of its
overseas offerings. Furthermore, based on our understanding of the current PRC laws, we believe that the CSRC’s approval is not
required to be obtained for the Company’s listing on Nasdaq; however, there are substantial uncertainties regarding the interpretation
and application of the Regulation on Mergers and Acquisitions of Domestic Companies by Foreign Investors (“M&A Rules”),
other PRC Laws and future PRC laws and regulations, and there can be no assurance that any governmental agency will not take a view that
is contrary to or otherwise different from our belief stated herein.

On February 24, 2023, the CSRC,
the Ministry of Finance, the National Administration of State Secrets Protection and the National Archives Administration jointly issued
the Provisions on Strengthening Confidentiality and Archives Administration of Overseas Securities Offering and Listing by Domestic Companies,
or the Confidentiality and Archives Provisions, which took effective from March 31, 2023. The Confidentiality and Archives Provisions
specify that during the overseas securities offering and listing activities of domestic companies, domestic companies and securities companies
and securities service institutions that provide