Company: GURE
Filing Date: 2025-12-31
Form Type: S-3/A
Source: 0001193805-25-001804
Chunk: 15

Company: GULF RESOURCES, INC.
Filing Date: 2025-12-31
Form: S-3/A
Chunk 15
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 Chemical Company Limited (SCHC). We also produce crude salt through our subsidiary Shouguang Hengde Salt Industry Co. Ltd
(SHSI). Through our previously wholly- owned subsidiary, Shouguang Yuxin Chemical Industry Company Limited (SYCI), we manufactured and
sold chemical products used in oil and gas field exploration, papermaking chemical agents, and materials for human and animal antibiotics.
Our wholly-owned subsidiary, Daying County Haoyuan Chemical Company Limited (DCHC), was established to explore and develop natural
gas and brine resources in Sichuan Province, China.

We are one
of the largest producers of bromine in China, as measured by production output. The extraction of bromine in the Shandong Province is
limited by the provincial government to licensed operations, and we hold one such license. Our production sites are located in the Shandong
Province in northeastern China, with facilities strategically positioned near natural brine deposits.

As of December 31, 2024, we employed
approximately 367 full-time employees and operated through our wholly-owned subsidiaries in China. Our corporate structure is linear,
with Gulf Resources owning 100% of Upper Class Group Limited, which owns 100% of Hong Kong Jiaxing Industrial Limited, which owns 100%
of our Chinese operating subsidiaries.

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CORPORATE INFORMATION

Gulf Resources, Inc., is the holding
company which was originally incorporated in Delaware and subsequently re-incorporated in Nevada.

Our current corporate structure
was established through a series of acquisitions beginning in 2006, when we acquired Upper Class Group Limited and its Chinese subsidiaries.

Upper Class Group Limited, incorporated
in the British Virgin Islands in July 2006, acquired all the outstanding stock of Shouguang City Haoyuan Chemical Company Limited (“SCHC”),
a company incorporated in Shouguang City, Shandong Province, the People’s Republic of China (the “PRC”), in May 2005.
At the time of the acquisition, members of the family of Mr. Ming Yang, our president and former chief executive officer, owned approximately
63.20% of the outstanding shares of Upper Class Group Limited. Since the ownership of Upper Class Group Limited and SCHC was then substantially
the same, the acquisition was accounted for as a transaction between entities under common control, whereby Upper Class Group Limited
recognized the assets and liabilities transferred at their carrying amounts.

On December 12,